News
FSP: Ranil’s new finance bill based on IMF formula, detrimental to country
Frontline Socialist Party aka Peratugaami pakshaya has alleged that the so-called Economic Transformation Bill will benefit only the corrupt at all levels.
FSP spokesman Pubudu Jagoda claimed that four parties, namely the International Monetary Fund (IMF), the Wickremesinghe-Rajapaksa government that had no mandate from the people, influential and politically connected business community and the neo liberalists masquerading as educated and academics were involved in the operation to enact this law.
The former JVPer said so addressing the media from FSP office at Melder Place, Nugegoda on Wednesday (22) afternoon.
Jagoda said that the proposed law was entirely based on IMF thinking. “They wanted to blame the economic fallout on the budget deficit, thereby hiding the decades’ long balance of payments crisis. That is the real reason,” Jagoda said.
The FSPer alleged that the current dispensation, through the proposed law, aimed to create an environment of impunity for powers that be to go ahead with their sordid operations. Referring to specific sections in the bill that had been submitted to parliament on Wednesday, Jagoda said, adding that the relevant minister could take unilateral decisions with regard to necessary approvals unless anticipated responses weren’t received during the stipulated period.
The existing labour, environments and other laws could come redundant overnight if President Ranil Wickremesinghe enacted the Economic Transformation Bill.
Jagoda claimed that in terms of this law the government could go ahead with projects regardless of consequences for national security as well as public health etc.
On the other hand, Wickremesinghe’s unrealistic dreams, too, had been included in this bill, he said.
Referring to a recent statement issued by SLPP Chairman and former President Mahinda Rajapaksa, Jagoda said that while backing Wickremesinghe in parliament, he, too, had admitted that the current dispensation lacked mandate to take far reaching decisions in respect of privatisation and restructuring.
Declaring that the existing 15 export processing zones were run profitably, Jagoda alleged that Wickremesinghe’s controversial law would pave the way for those near and dear to him and his acolytes to take over these zones. Jagoda disclosed that 90 percent of land of 12 zones had been already assigned to investors. However, the new law would facilitate the establishment of a top-heavy set-up that could be used to accommodate current rulers’ friends and associates (SF)
Latest News
Tri-Forces donate LKR. 372 million, a day’s pay of all ranks to ‘Rebuilding Sri Lanka’ Fund
Members of all ranks from the Sri Lanka Army, Sri Lanka Navy and Sri Lanka Air Force have collectively donated a day’s basic salary to the ‘Rebuilding Sri Lanka’ Fund, which was established to restore livelihoods and rebuild the country following the devastation caused by Cyclone Ditwah.
Accordingly, the total contribution made by the Tri-Forces amounts to LKR. 372,776,918.28.
The cheques representing the financial contributions were handed over on Wednesday (31 December) at the Presidential Secretariat to the Secretary to the President, Dr. Nandika Sanath Kumanayake.
The donations comprised LKR. 250 million from the Commander of the Army, Major General Lasantha Rodrigo; LKR. 73,963,879.71 from the Commander of the Navy, Rear Admiral Kanchana Banagoda and LKR. 48,813,038.97 from the Commander of the Air Force, Air Marshal Vasu Bandu Edirisinghe.
Secretary to the Ministry of Defence, Air Vice Marshal Sampath Thuyacontha, was also present on the occasion.
News
CEB demands 11.57 percent power tariff hike in first quarter
The Ceylon Electricity Board (CEB) has submitted a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) seeking an 11.57 percent increase in electricity tariffs for the first quarter of 2026, citing an estimated revenue shortfall and additional financial pressures, including cyclone-related damages.
According to documents issued by the PUCSL, the proposed tariff revision would apply to electricity consumption from January to March 2026 and includes changes to both energy charges and fixed monthly charges across all consumer categories, including domestic, religious, industrial, commercial and other users.
Under the proposal, domestic electricity consumers would face increases in unit rates as well as fixed monthly charges across all consumption blocks.
The CEB has estimated a deficit of Rs. 13,094 million for the first quarter of 2026, which it says necessitates the proposed 11.57 per cent tariff hike. The utility has noted that any deviation from this estimate whether a surplus or a shortfall will be adjusted through the Bulk Supply Tariff Adjustment (BSTA) mechanism and taken into account in the next tariff revision.
In its submission, the CEB said the proposed revision is aimed at ensuring the financial and operational stability of the power sector and mitigating potential risks to the reliability of electricity supply. The board-approved tariff structure for the first quarter of 2026 has been submitted to the PUCSL for approval and subsequent implementation, as outlined in Annex II of the proposal.
The CEB has also highlighted the financial impact of Cyclone Ditwah, which it said caused extensive damage to electricity infrastructure, with total losses estimated at around Rs. 20 billion. Of this amount, Rs. 7,016.52 million has been attributed to the first quarter of 2026, which the utility said has a direct bearing on electricity tariffs.
The CEB warned that if external funding is not secured to cover the cyclone-related expenditure, the costs incurred would need to be recovered through electricity tariffs in the second-quarter revision of 2026.
Meanwhile, the PUCSL has said that a decision on whether to approve the proposed tariff increase will be made only after following due regulatory procedures and holding discussions on the matter.
By Sujeewa Thathsara ✍️
News
Health Minister sends letter of demand for one billion rupees in damages
Ondansetron controversy
Minister of Health and Mass Media Dr Nalinda Jayatissa has sent a letter of demand for Rs. 1 billion in damages from YouTube content creator Dharmasri Kariyawasam, accusing him of disseminating false and defamatory material linking the Minister to the importation of Ondansetron and inciting public unrest.
The notice, sent through the Minister’s lawyers, states that investigations are currently under way into 10 medicines, including Ondansetron Injection, manufactured by India-based Maan Pharmaceutical Limited.
Ondansetron Injection was among nine injectable drugs recently suspended by the National Medicines Regulatory Authority (NMRA) following reports of patients administered with the drug suffering adverse complications.
Despite the ongoing investigations, Kariyawasam allegedly aired a widely viewed programme on his YouTube channel titled “The hidden story of the Indian drug that claimed lives, Mayor Balthazaar’s relative, and Minister Nalinda’s cover-up.”
According to the letter of demand, the programme falsely portrayed Minister Jayatissa as being directly responsible for importing the drug, colluding with the supplier, and attempting to conceal the issue, while depicting him as indifferent to public suffering.
The Minister’s lawyers maintain that these allegations are entirely false and defamatory, citing passages in which Kariyawasam allegedly accused Jayatissa of lying about the supplier, concealing facts related to PTC Medicals (Pvt) Ltd., the actual importer, and showing a lack of concern over deaths purportedly linked to the drug.
The programme also claimed links between the directors of PTC Medicals and family members of Colombo Mayor Vraîe Cally Balthazaar, implying political favouritism.
-
Sports5 days agoGurusinha’s Boxing Day hundred celebrated in Melbourne
-
News3 days agoLeading the Nation’s Connectivity Recovery Amid Unprecedented Challenges
-
Sports6 days agoTime to close the Dickwella chapter
-
Features4 days agoIt’s all over for Maxi Rozairo
-
News6 days agoEnvironmentalists warn Sri Lanka’s ecological safeguards are failing
-
News4 days agoDr. Bellana: “I was removed as NHSL Deputy Director for exposing Rs. 900 mn fraud”
-
News3 days agoDons on warpath over alleged undue interference in university governance
-
Features6 days agoDigambaram draws a broad brush canvas of SL’s existing political situation
