News

Minister Cabraal dismisses calculations made by MP Hashim

Published

4 years ago

2020/11/13

Sahan Weerasooriya

Suggests he gets some coaching from Harsha de Silva, who knows subject

By Saman Indrajith

Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday that as at the end of December 2019 total loans granted by the Central Bank to all banks for pawning advances stood at Rs. 210 billion and at the end of September 2020 it had increased by 27 billion to Rs. 237 billion.

Participating in the debate on the 2020 Appropriation Bill, the Minister dismissed the figures presented by SJB MP Hashim as being inaccurate and demanded to know where the latter had obtained the misleading information from.

MP Kabir Hashim during his speech said that it was a clear indication of the failure of the government that people had pawned jewelleries to the tune of Rs. 643 billion.

Minister Cabral said by the end of December 2019 the credit card payments stood at Rs. 131 billion but had dropped by Rs. 25 billion to Rs.126 billion. “Therefore, I urge MP Kabir Hashim to get his facts right and perhaps get some expert advice on such matters by someone like MP Harsha de Silva, who knows this subject.”

The State Minister said that the year 2020 had been a very difficult and uncertain year for the country. “For over half the year we had a minority government and during the major part of the year we were speculating on whether an election could be held. The whole world was facing difficulties with the pandemic wreaking havoc. It was only after the formation of the new government that we were able to formulate a clear policy and delegate responsibilities.

Therefore, we have been able to move forward with a clear vision during the last three months,” he said.

The Minister said that the government had faced many challenges during the first three quarters of this year apart from the Covid pandemic, due to the mismanagement and misdeeds of the previous government over the past five years.

“During the past five years under the previous regime, the 6.3 per cent growth rate we maintained from 2010 to 2014 had dropped to 2.3 per cent

For the first time in 2019 the per capita income fell by USD 227 under the yahapalana government. Now, they are trying to discredit us by claiming that the country is in a debt trap. They are hoping for the fall of the government, but they will be disappointed; we will not their dream come true.”

Minister Cabral said that the debt burden was measured as a percentage of the GDP and in 2005, it stood at 91 per cent. “However, our government had reduced it to 70 per cent by 2014 and after the Yahapalana government took over they increased it back to 87 percent. This happened as they had increased the foreign debt by 49 per cent. They increased the short term loans within a short period and now we are tasked with rectifying their mistakes. The previous government paid Rs. 1,430 billion more than we did in debt interest within their five year tenure.”

Cabraal add that the previous regime had also managed to devalue the rupee and now the present government had to pay for its predecessor’s sins.

He said that the government was committed to steering the country on a path of progress and urged all MPs to cast aside their political differences and support the passage of the Appropriation Bill.

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Heat index is likely to increase up to ‘Caution level’ at some places in Eastern and North-central provinces and Monaragala, Hambantota, Jaffna, Mullaittivu, Kilinochchi, Vavuniya and Kurunegala districts

Published

21 hours ago

2025/04/27

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology at 3.30 p.m. 26 April 2025, valid for 27 April 2025.

The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Eastern and North-central provinces and Monaragala, Hambantota, Jaffna, Mullaittivu, Kilinochchi, Vavuniya and Kurunegala districts.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

Latest News

Minister of Foreign Affairs pays his last respects to Pope Francis

Published

22 hours ago

2025/04/27

Priyan

Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath represented Sri Lanka at the funeral of Pope Francis on Saturday [26]

News

RW to visit CIABOC on Monday

Published

23 hours ago

2025/04/27

Thilina Walpola

Former President Ranil Wickremesinghe will appear before the Commission to Investigate Allegations of Bribery and Corruption (CIABOC) tomorrow (28) over the statement he had made on MP Chamara Sampath Dassanayake, his lawyers have informed the Commission.

Accordingly, the former President will appear before the commission at 9.30am on Monday.

Wickremesinghe was initially summoned by the Commission to CIABOC on April 17 in relation to a statement he had made about the corruption case filed against NDF (gas cylinder) MP Dassanayake.

In response to the previous summons, Wickremesinghe had indicated that he is prepared to appear before the commission but requested a different date citing that his lawyers will not be available in Colombo during the New Year holiday period.

Accordingly, a new was provided and Wickremesinghe requested to appear before the commission at 09.30 a.m. on Thursday (April 25).On April 7, Wickremesinghe had said that MP Dassanayake withdrew the fixed deposits belonging to the Uva Provincial Council, over which he is now facing corruption charges, in accordance with a circular issued during Wickremesingher’s tenure as Prime Minister.

The former President questioned whether the MP’s arrest over the matter was in response to Dassanayake’s vocal criticism of the government in parliament.

The sitting MP is currently in remand custody for allegedly misappropriating a sum of Rs. 1 million of the Uva Provincial Council in 2016.

He was taken into custody on March 27, over three separate corruption-related cases.

The Colombo Magistrate’s Court previously granted bail in the cases filed against him but he remains in remand custody due to an order issued by the Badulla Magistrate’s Court.

According to the CIABOC, Dassanayake had solicited funds from three state banks, claiming they were intended to provide bags for preschool children in the province.

Two banks complied, granting him Rs. 1 million and Rs. 2.5 million, which were later transferred to his foundation account.

However, when a third bank refused to provide funds, Dassanayake reportedly retaliated by withdrawing the Uva Provincial Council’s fixed deposits from that institution.The CIABOC filed a case against the MP, citing the government incurred a financial loss of Rs. 17.3 million due to his actions.