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Siyambalapitiya alleges move to trigger run on banks

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Siyambalapitiya

By Rathindra Kuruwita

A sinister attempt is being made in some quarters to trigger a run on banks and the five-day bank holiday is aimed at countering that move, State Minister of Finance Ranjith Siyambalapitiya has said.

Siyambalapitiya, addressing the media, yesterday, assured that bank and other deposits and pension funds would not be affected by Domestic Debt Restructuring (DDR) and that there is no reason for people to panic.

Sri Lanka’s total debt amounted to USD 83.6 billion made up of foreign debt of USD 42.6 billion and domestic debt of USD 42 billion.

“Out of the domestic debt amounting to USD 25 billion are in Treasury bonds, USD 11 billion in Treasury Bills, USD 5.6 billion in development bonds and the rest has been from various institutions. When we restructure domestic debt, there will be no haircuts,” he said.

DDR will amount to extensions of payment dates, moratoriums and reducing interest rates, he said.

“If we can restructure foreign debt well, we don’t need too much from domestic debt. People should not panic and rush to the banks. Your deposits are safe. Your pension funds are safe,” the State Minister of Finance added.



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Treasury chief’s citizenship details sought from Australia

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Nagananda / Harshana

New controversy erupts over missing USD 2.5 mn:

Public interest activist Nagananda Kodituwakku has sought citizenship details of Finance Ministry Secretary Harshana Suriyapperuma from the Department of Home Affairs, Australia.

According to a letter dated 28 April, addressed to the relevant department, Solicitor England and Wales Kodituwakku sought the required information in terms of Section 15 of the Freedom of Information Act No 3 of 1982 of Australia. Suriyapperuma is also the Secretary to the Treasury.

The former Deputy Minister of Finance and Planning Suriyapperuma (from November 2024 to June 2025) is embroiled in a deepening controversy over the theft of USD 2.5 mn from the Treasury.

The leader of the Vinivida Foundation said that he intended to move court against Suriyapperuma for entering Parliament through the NPP National List in violation of the country’s Constitution (Article 91(1)(d)(xiiii).

Kodituwakku said: “This is clearly an accountability and integrity issue and violation of the Constitution of Sri Lanka and also this act contravenes the law of a member in the Commonwealth.”

USD 2.5 mn paid to a third party was meant to be an instalment of a loan taken from Australia. Suriyapperuma neither responded to an SMS nor answered his hand phone.

Geetha Kumarasinghe (UPFA/Galle District) and Diana Gamage (SJB National List) lost their seats in 2017 and 2024, respectively, over citizenship issues.

Meanwhile, public interest group ‘Free Lawyers’ that exposed the theft of Treasury funds questioned the failure on the part of Dr. Harsha de Silva, Chairman of Committee on Public Finance (CoPF), to pressure President Anura Kumara Dissanayake to temporarily remove Suriyapperuma to facilitate unhindered investigations.

On behalf of ‘Free Lawyers’, Rajith Keerthi Tennakoon yesterday expressed concern over the way the CoPF, under SJBer de Silva’s leadership, handled the issue at hand. Issuing an open letter, Tennakoon, urged the CoPF chief to explain his stand on a spate of vital issues which needed to be addressed without any further delay.

By Shamindra Ferdinando

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President Anura Kumara Dissanayake handing over a sapling of the Sri Maha Bodhiya in Anuradhapura to Ven Bhikku Pannakara

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President Anura Kumara Dissanayake handing over a sapling of the Sri Maha Bodhiya in Anuradhapura to Ven Bhikku Pannakara (Sue Tue Nhan) at the conclusion of the 161 km ‘International Peace Walk’ in Colombo yesterday. The Bo-sapling will be taken to the US by the spiritual leader. Pic by Sujata Jayaratne

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USD 625,000 meant for US Postal Service goes missing

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Cabinet Spokesman Minister Dr. Nalinda Jayatissa yesterday revealed that a USD 625,000 payment made by Sri Lanka’s Department of Posts to the US Postal Service (USPS) had not been received by the intended party.

The declaration was made at the post-Cabinet media briefing.

According to the Minister, an investigation has been initiated into the incident.

The Minister said that an investigation was underway within the Sri Lanka Postal Department regarding the missing funds paid to the US Postal Service.

He added that the US Postal Service has indicated the non-receipt of a payment amounting to USD 625,000, and that investigations were being conducted by both the Postal Department and the CID to determine how the incident occurred.

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