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President invites party leaders for ‘collective dialogue’ with IMF

ECONOMYNEXT –President Ranil Wickremesinghe has invited political party leaders in Parliament to discuss the IMF agreement implementation with the fund’s Managing Director.
“I am willing to extend an invitation to the Managing Director of the IMF to participate in a collective dialogue here. Let us collaboratively explore different perspectives and propose modifications if deemed beneficial,” Wickremesinghe said during the International Customs Day celebrations at the Colombo Customs Headquarters on Friday (26), according to his media division.
Sri Lanka has entered into an agreement with the International Monetary Fund, a pact signed by numerous countries, including 15-20 others.
In return for a bailout, the agreement has Sri Lanka restructuring its foreign and local debt after the country defaulted in peacetime after triggering serial currency crises, and increasing its revenue.
“It is an agreement we cannot simply walk away from, necessitating collective discussion and consideration. However, the unfortunate reality is that our political landscape often resembles the fleeting nature of “papadam” —put in the pan, enjoyed when it blooms, and soon forgotten. The cycle repeats, with new issues emerging, gaining momentary attention, and eventually fading into oblivion,” Wickremesinghe said.
“While the amendment process is open for consideration, it is imperative to acknowledge the existing agreement and work towards its implementation.”
Wickremesinghe said that the economy suffered due to the politics of promises, and that all political parties need to formulate comprehensive plans for the country’s development when gearing up for an election.
Presidential and general elections are due to be held this year. Provincial Council elections have been long overdue.
Wickremesinghe thanked the Customs Department for their contributions to revenue in 2023, and said it needed to enhance efficiency to boost the country’s revenue further.
“The Customs Department holds a significant historical position, being considered one of the oldest government departments in Sri Lanka. Historical records indicate that customs taxes were collected around 2000 years ago at the ancient port of Manthai. From the Anuradhapura era, through the Kotte era and into the Kandy era, customs revenue has played a pivotal role in the nation’s existence.”
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Sun directly overhead Kahawa, Meetiyagoda, Elamaldeniya, Ambakolawewa and Bundala at about 12:13 noon today (05th)

On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka from 05th to 14th of April this year.
The nearest areas of Sri Lanka over which the sun is overhead today (05th) are Kahawa, Meetiyagoda, Elamaldeniya, Ambakolawewa and Bundala at about 12:13 noon.
News
COPA reveals highway robbery in the guise of issuing permits to import EVs

A probe by the parliamentary watchdog, the Committee on Public Accounts (COPA), has revealed a significant misuse in the process of issuing licenses to import fully electric vehicles by Sri Lankans working abroad, based on foreign remittances.
The investigation found malpractices, including some importers holding over 600 electric vehicle licenses, as well as licenses being issued to individuals who had not travelled abroad during the relevant period.
The COPA probe, chaired by MP Aravinda Senarath, uncovered evidence that raised suspicions of money laundering in the issuance of licenses.
The Auditor General pointed out that the government lost Rs. 2.42 billion in tax revenue due to an increase in the luxury tax exemption limit for 921 vehicles imported up to September 30, 2024.
The Committee also discussed special audit reports related to a scheme, implemented between May 1, 2022, and September 15, 2023, which granted permits for the importation of fully electric vehicles for Sri Lankans employed abroad, based on foreign remittances.
The Auditor General revealed that 1,077 vehicle permits were issued during this period, of which 77 permits were later cancelled. He also noted that two main institutions acted as importers, providing facilities for 640 permit holders. This suggested that a business had been created under the guise of permit issuance.
Furthermore, due to an increase in the luxury tax exemption threshold, from Rs. 6 million to Rs. 12 million for 921 vehicles imported until September 30, 2024, the Auditor General stated that the government lost tax revenue amounting to Rs. 2.42 billion.
It was also revealed that four individuals, who had not travelled abroad during the relevant period, had been issued electric vehicle permits. Since the circular relevant to this scheme did not specify a minimum duration of overseas employment required for eligibility, individuals, who had been abroad for as little as three days or up to three months, as well as those who travelled intermittently, were granted permits. The Ministry of Labour and Foreign Employment had acted under this scheme before it was revised.
Deputy Ministers Maj Gen (rtd.) Aruna Jayasekera, Nalin Hewage, Sugath Thilakaratne, and MPs Kabir Hashim, Dr. M.L.A.M. Hizbullah, Chandana Sooriyaarachchi, Sagarika Athauda, Oshani Umanga, Dinindu Saman Hennayake, T.K. Jayasundara, Manjula Suraweera Arachchi, Ruwanthilaka Jayakody, Lal Premanath, and several government officials attended the meeting.
by Saman Indrajith
News
Warning from Bribery boss against making frivolous complaints about political victimisation

Director General of the Commission to Investigate Allegations of Bribery or Corruption, Ranga Dissanayake, says that the abuse of the term “political victimisation” will no longer be tolerated, and those who misuse the term will face strict legal action.
Dissanayake told a media conference held at the CIABOC auditorium: “There is a widespread perception that the law is not effectively enforced in this country. This perception has arisen because, as the President mentioned on Anti-Corruption Day, small fish are caught while the big fish escape. This perception exists for several reasons, including delays in the Bribery or Corruption Investigation Commission’s processes. At times, the public is unaware of the injustices that occur within the Commission.”
Addressing politicians who make public statements, he requested, “I sincerely ask political leaders who issue statements to the media to kindly refer to the Anti-Corruption Act No. 9 of 2023 that you have endorsed. Please refrain from making certain statements without a proper understanding. This law has been enacted independently of any prior connections or influences. I have been in this position since the beginning of this year. The Bribery Commission currently has 31 legal officers, and there is no capacity to recruit additional staff at this time.” He also highlighted the significant challenges faced by the Commission, revealing that approximately 4,000 unresolved case files remain due to limited resources and personnel. “No matter what we do, people will still ask, ‘How many criminals have been caught?’ This situation is the result of limited resources and staff,” he explained. Dissanayake also said: “If anyone is going to claim political victimisation, let them find evidence and prove it. Otherwise, the powers granted by this law will be used against those who make false claims.”
By Pradeep Prasanna
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