Finance and Media Minister Mangala Samaraweera had said he had no intention of axing his party leader and becoming the Prime Minister of the country.
Samaraweera, speaking to a website run by his close associates, had said he had never gone against the party leadership. He said he policy had been to discuss internal issues within the party and find solutions.
The Minister's remarks came after some websites reported that President Maithripala Sirisena had asked Prime Minister Ranil Wickremesinghe to resign before making a statement to the Bond Commission.
Samaraweera, in his statement, rubbished the media reports claiming that the President and the Prime Minister had a good understanding and a strong working relationship.
"They meet a few times a week and discuss the government's affairs. Their relationship remains solid," Samaraweera told the website.
Samaraweera said he met the President recently, along with Ministers Malik Samaraweera and Kabir Hashim, and such an issue was never discussed at the meeting.
The Minister said that the media reports were completely false.