Connect with us

News

SJB belatedly defends 2017 Foreign Exchange Act, rejects Justice Minister’s claim of funds ‘parked’ overseas

Published

on

Dr. Rajapakshe and Dr. de Silva

By Shamindra Ferdinando

Top SJB spokesman Dr. Harsha de Silva on Monday (20) dismissed Justice Minister Dr. Wijeyadasa Rajapakshe’s claim that well over USD 56.5 bn had been parked overseas by some exporters.

Dr. de Silva also contradicted claims made by rebel SLPP MPs Vasudeva Nanayakkara, Wimal Weerawansa and Gevindu Cumaratunga on the matter.

The Justice Minister and rebel SLPP MPs have declared that the enactment of Foreign Exchange Act No 12 of 2017 had led to the current situation.

Appearing on the live political programme Salakuna on Hiru, the Colombo District lawmaker said that such accusations were nothing but a joke. One-time Economic Reforms and Public Distribution State Minister de Silva declared that it was nothing but a made-up story.

The SJB lawmaker said so when Hiru anchor Chamuditha Samarawickrema asked whether the Yahapalana government contributed to the current crisis by doing away with the time-tested Exchange Control Act No 24 of 1953. Samarawickrema pressed for an answer pointing out that Harsha de Silva and SJB leader Sajith Premadasa were among 94 MPs who voted for the new law whereas 18 voted against.

A section of the UNP registered SJB as a political party, in early 2020, ahead of the general election held in Aug of the same year.

Governor of the Central Bank Dr. Nandalal Weerasinghe, too, has on several occasions raised concerns over the failure on the part of exporters to bring back proceeds.

Samarawickrema said that according to Minister Rajapakse the actual figure could be as much as USD 100 bn though official records were lower.

Dismissing the Justice Minister’s declarations, MP de Silva questioned the recent claim made by the former President of the Bar Association that export proceeds amounting to USD 8 bn hadn’t been repatriated last year. There was no basis for the Justice Minister’s claim on USD 8 bn as well as the previous declarations on over USD 50 bn being held overseas, MP de Silva said, adding that the total amount of exports were USD 12 bn last year.

Accusing some lawmakers of propagating lies, the former UNPer challenged them to reveal where even USD one bn was held.

Referring to leaked Panama Papers and Pandora Papers beginning April, 2016 and Oct 2021, respectively, MP de Silva said they disclosed the amounts parked overseas. “I won’t say funds hadn’t been parked. Thieves are everywhere. Some under invoice. Others over invoice. There are people who park money abroad. The funds mentioned in Panama Papers are part of the total amount of money stashed overseas.”

MP de Silva firmly denied that Sri Lanka engaged in large scale export business. There was absolutely no basis of claim regarding USD 56.5 bn, MP de Silva said.

Asked whether Justice Minister lied in this regard, MP de Silva insisted that this figure couldn’t be accepted under any circumstances.

Responding to Samarawickrema’s query whether the new law contributed to the bankruptcy, MP de Silva said that it was meant to pave the way for Sri Lankans to set up businesses abroad. The economist said that Sri Lankans should be allowed to invest overseas the way foreign companies did here. The former State Minister named several such investments made by Sri Lankans.

Dr. de Silva dismissed claims that the Capital Account hadn’t been opened. Utilization of funds had to be approved by the Central Bank on a case-by-case basis.

At the onset of the programme, Dr. de Silva said that the SJB accepted the general direction of President Ranil Wickremesinghe’s budget. One-time Wickremesinghe deputy on economic affairs?? during the yahapalana government, lawmaker de Silva said that SJB is comfortable with the budget in spite of concerns.



News

Showers about 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Uva, Southern, North-western, Northern and North-central provinces and in Trincomalee district.

Published

on

By

WEATHER FORECAST FOR 11 MAY 2026
Issued at 05.30 a.m. on 11 May 2026 by the Department of Meteorology

 

The low-level atmospheric disturbance in the vicinity of Sri Lanka is likely to develop into a low-pressure area around the next 36 hours. Therefore, the prevailing showery conditions over the island are expected to continue during the next few days.

Showers or thundershowers will occur at times in most parts of the island and Cloudy skies are expected, under the influence of the aforementioned system. Heavy showers about 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Uva, Southern, North-western, Northern and North-central provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.

Continue Reading

News

Treasury theft: Speaker’s conduct brought to IPU’s attention: SJB  

Published

on

Dayasiri

SJB MP Dayasiri Jayasekera has sought the intervention of the Inter-Parliamentary Union (IPU) to pressure the JVP-NPP government to respect the rights of the Opposition.

MP Jayasekera told The Island that they wouldn’t allow the NPP to suppress the truth regarding the theft of Treasury funds amounting to USD 2.5 million. He accused Speaker Dr. Jagath Wickremaratne of depriving the Opposition of its legitimate rights, at the behest of the government.

Jayasekera said that the Speaker’s conduct regarding the action taken against Deputy Secretary General of Parliament Chaminda Kularatne, too, had been brought to the notice of IPU and other international associations.

The text of MP Jayasekera’s letter to the Secretary general of IPU: “I respectfully submit this petition seeking the attention and intervention of the Inter-Parliamentary Union concerning a matter affecting parliamentary accountability, the rights of elected representatives, and the proper functioning of constitutional oversight within the Parliament of Sri Lanka.

On 06 May 2026, I Dayasiri Jayasekara MP submitted a formal request to the Hon. Speaker of Parliament seeking permission, under the Parliament (Powers and Privileges) Act No. 21 of 1953 and Standing Order 29(1), to raise a question of privilege regarding alleged constitutional and parliamentary violations by Mr. Harshana Suriyapperuma, Secretary to the Treasury of Sri Lanka.

The proposed privilege motion raised matters including:

1. Alleged violations of Articles 148, 149, and 150 of the Constitution of Sri Lanka concerning parliamentary control over public finance;

2. Alleged failure to report to Parliament concerning a controversial and unlawful transfer of approximately USD 2.5 million from the Treasury;

3. Alleged non-compliance with parliamentary committee procedures under the Standing Orders of Parliament;

4. Questions relating to constitutional eligibility under Article 91(1)(d)(xiii) of the Constitution concerning dual citizenship and qualification to sit and vote in Parliament;

5. A request that the matter be referred to the Parliamentary Ethics and Privileges Committee established under Standing Order 118.

 Despite the seriousness of the constitutional and parliamentary issues raised, the Hon. Speaker declined permission for the privilege issue to be raised in Parliament.

It is respectfully submitted that this refusal has the effect of:

•  Preventing an elected Member of Parliament from exercising his parliamentary oversight function;

• Restricting parliamentary scrutiny over matters involving public finance and constitutional accountability;

•  Undermining the privileges of Members of Parliament to raise matters of urgent public importance;

•  Limiting institutional transparency concerning allegations involving senior state officials.

The right of parliamentarians to raise questions of privilege and matters relating to constitutional governance is an essential component of parliamentary democracy and legislative independence. The refusal to permit even the presentation or preliminary consideration of such a matter raises serious concerns regarding parliamentary accountability mechanisms in Sri Lanka.

Accordingly, I respectfully request that the Inter-Parliamentary Union:

1.Take cognizance of this matter as one affecting the rights and functions of Members of Parliament;

2.Seek clarification from the relevant parliamentary authorities in Sri Lanka regarding the grounds upon which the privilege motion was disallowed;

3.Consider whether the refusal is compatible with internationally recognised principles of parliamentary democracy, accountability, and freedom of parliamentary speech;

4. Encourage the Parliament of Sri Lanka to ensure fair and transparent procedures governing parliamentary privilege motions and constitutional oversight.

I further request that this communication be placed before the appropriate committee or mechanism within the IPU dealing with the rights and duties of parliamentarians.”

Continue Reading

News

Navin calls for formal alliance between UNP and SJB

Published

on

UNP Vice President and Kandy District Leader, Navin Dissanayake, on Saturday, stressed that any proposed merger between the UNP and the SJB must be carried out formally rather than in an ad hoc manner.

Addressing a media briefing in Kandy, Dissanayake said a structured framework was essential to ensure the successful reunification of the two parties ahead of future elections.

“A formal mechanism must be established for the unification of the UNP and the SJB. This process cannot be confined to personal verbal assurances given to suit individual interests. We must build a strong framework to contest future elections as a united force,” he said.

He added that the UNP could only regain political strength by reuniting with factions that had broken away from the party.

Dissanayake also claimed that the Government would be compelled to hold Provincial Council elections amid mounting international and domestic pressure.

“India is exerting pressure to conduct these elections, while the people in the North are also demanding governance under the Provincial Council system. They are awaiting the polls,” he said.

Announcing his own political intentions, Dissanayake said he hoped to contest as the Chief Ministerial candidate for the Central Province at the next Provincial Council election.

“I intend to contest as the Chief Ministerial candidate for the Central Province. Having served as a Governor, I understand the extent of service that can be delivered to the people through a Provincial Council,” he said.

Recalling the history of constitutional devolution, Dissanayake said his late father, Gamini Dissanayake, had played a significant role in the introduction of the 13th Amendment to the Constitution of Sri Lanka.

by SK Samaranayake

Continue Reading

Trending