The Committee on Public Finance (COPF) has been informed that Central Bank officials are not required to seek approval from the Finance Ministry to purchase vehicles.
Finance Ministry officials, appearing before COPF, said that under the Central Bank Act, the institution operates independently and therefore does not fall under the Ministry’s purview for such approvals.
They also said the Ministry has no records of how many vehicles the Central Bank has purchased or their value.
Clarifying existing regulations, officials noted that a 2022 circular prohibits ministries from purchasing private vehicles outright, though they may obtain used vehicles or acquire private vehicles through operational leases or rentals.
This was disclosed in response to a query from opposition MP Ravi Karunanayake raised during the meeting, as to how Central Bank officials have made vehicle purchases. (Islandnews)
