News
AKD assures captains of industry that an NPP govt. will keep its hands off Central Bank
NPP presidential candidate Anura Kumara Dissanayake on Wednesday assured Sri Lanka’s business community that an NPP government would not use the Central Bank for political purposes.
Speaking at the National Business Forum held at Monarch Imperial in Sri Jayawardenepura Kotte, Dissanayake emphasised the importance of keeping the economy at the center of political debates, noting that the ongoing economic collapse has forced both the public and political leaders to seriously engage with economic issues.
Dissanayake highlighted that the NPP was presenting its economic policies for public scrutiny ahead of the election.
Addressing concerns regarding the NPP’s potential impact on the economy, Dissanayake dismissed rumours that the stock market downturn was linked to the party’s growing popularity. He reflected on the NPP’s challenging political journey and the current opportunity for victory, adding that the party would not follow policies that could lead to the downfall of the government or cause it to flee as previous administrations had. He cited the Supreme Court’s ruling, which blamed the President, Prime Minister, Finance Minister, and other officials for the country’s economic collapse, and assured the public that the NPP would not repeat their mistakes.
Dissanayake stressed that the NPP was not seeking power through popular slogans or hollow promises, recognising the severity of Sri Lanka’s economic situation. He noted the complexities of the current economic structure and emphasised the need for responsible adjustments. He assured that his party is committed to a careful and accountable approach, aware that even minor changes could have significant consequences.
In terms of international relations, Dissanayake underscored the importance of continuing cooperation with the International Monetary Fund (IMF), as many of Sri Lanka’s economic transactions, including bilateral debt, multilateral debt, and sovereign bonds, are tied to the IMF. He rejected the notion of unilaterally withdrawing from the IMF programme, stressing that such a move would be irresponsible. Instead, he promised to work within the IMF’s parameters, ensuring that they were beneficial to the country.
Dissanayake also outlined the NPP’s position on the role of government in public enterprises. He agreed that while certain sensitive sectors such as energy, financial markets, and national security should remain under government control, the government should not operate profit-driven businesses. Instead, a strong regulatory framework would be established to ensure the continuous provision of essential goods and services at fair prices.
Further, Dissanayake criticised the restrictive nature of the country’s governance structures, which have hindered economic progress. He highlighted the stark contrast between Sri Lanka’s stagnating export earnings and South Korea’s exponential growth over the past decades, attributing this to corruption and the lack of a national economic plan. To address this, he promised to reform outdated laws and provide the infrastructure needed for business growth, urging investors to take the lead in driving economic progress.
He concluded by calling for a new partnership between politicians and entrepreneurs, where their goals are aligned to build a stronger Sri Lanka. Dissanayake assured the business community that the NPP government would not seek special favours but would work collaboratively for the country’s development. The forum was attended by numerous prominent business leaders from across the country.
(RK)
Several ex-Cabinet ministers questioned; Ranil, Sajith, too likely to be summoned
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has initiated an inquiry into the shifting of the Agriculture Ministry situated at Rajamalwatte, to a building belonging to the D. P. Jayasinghe Group of Companies, at Rajagiriya, during the Yahapalana government.
The building was rented for a five-year period at a cost of over Rs 1 bn by the yahapalana government within months after the then President Maithripala Sirisena declared opened the 10-storey building complex.
The CIABOC yesterday morning recorded former yahapalana minister Gayantha Karunatilleke’s statement in connection with the investigation. Later in the day, CIABOC recorded the statement of SJB General Secretary Ranjith Maddumabanadara. Earlier CIABOC summoned former ministers Thalatha Atukorale, Wajira Abeywardena and Lakshman Kiriella. At the time of the finalisation of the deal, KIriella was in the UNP.
Sources said that former PM and President Ranil Wickremesinghe, too, was likely to be questioned in this regard. Responding to The Island queries, sources pointed out even SJB leader Sajith Premadasa was expected to be questioned.
The then Speaker Karu Jayasuriya is on record as having said that the building was rented in keeping with a decision taken by the government and not Parliament.
The UNP-SLFP coalition shifted the Agriculture Ministry to accommodate 16 Sectoral Oversight Committees therein.
Although the government paid as much as Rs. 21.5 mn monthly rent to D.P.A. Jayasinghe Company, the Agriculture Ministry failed to move in for over a year. The then Agriculture Minister Duminda Dissanayake sought Cabinet approval on Dec 1, 2015 to rent the building.
According to inquiries conducted earlier by the Presidential Commission appointed to probe state sector corruption, the Agriculture Ministry sought Cabinet approval for a new building after the then Prime Minister Wickremesinghe submitted a cabinet proposal on 21 September, 2015, to use the Agriculture Ministry building for Parliament’s sectoral oversight committees.
PM Wickremesinghe’s Secretary Saman Ekanayake has told the Commission that public funds could have been saved if the several vacant floors of Suhurupaya belonging to the Defence Ministry had been made available to the Agriculture Ministry.
By Shamindra Ferdinando ✍️
Railway sources said that the damages caused to railway tracks could be more than USD 300 mn.
According to UNDP Rapid Crisis Assessment Sri Lanka’s railroad system, over 278 km of railways were exposed to cyclone-related flooding, including 35 railroad bridges nationwide. This figure reflects flooding only, but other hazards (such as localised debris, landslides, or damage to a single bridge) can also disrupt operations, meaning that even relatively small obstructions can render long stretches of railway non-operational. Like road exposure, railway exposure limits mobility and the capacity of affected populations to access key services and infrastructure.
At the level of divisional secretariats, Colombo and Thimbirigasyaya in Colombo District, Ja Ela in Gampaha District, as well as Mannar Town and Nanaddan in Mannar District all registered over 10 km of exposed railways each.
Commissioner-General of Essential Services B.K. Prabath Chandrakeerthi is on record as having said that only 478 kilometers of Sri Lanka’s 1,593-km railway network were currently usable following extensive damage caused by the recent cyclone.
Under Secretary of State for Political Affairs Allison Hooker arrived in Colombo yesterday (11) to underscore US interest in defence, trade and maritime security in line with their Indo-Pacific strategy.
The US embassy here issued the following statement: “Under Secretary Hooker will meet with Sri Lankan counterparts to discuss a wide range of bilateral issues, focused on deepening economic and commercial ties, strengthening defence cooperation, and supporting Sri Lanka’s economic and maritime sovereignty.
The United States and Sri Lanka share a strong and enduring partnership rooted in our mutual commitment to regional security, economic growth, and prosperity for our peoples. Through close cooperation on defence, trade, and maritime security, we are working together to advance a free, open, and resilient Indo-Pacific region.
As we continue to build on our strategic partnership, the United States also stands with the people of Sri Lanka as they respond to the devastating impacts of Cyclone Ditwah. We remain committed to working together to address both immediate challenges and long-term opportunities for our two nations, reflecting our ongoing commitment to the U.S.-Sri Lanka partnership.”
Showers or thundershowers will occur at times in the Northern, North-Central, Eastern and Uva provinces and in Puttalam, Matale and Kurunegala districts
Rs 1. 3 bn yahapalana building deal under investigation
SL Railways suffers staggering losses; more than 2/3 of rail tracks out of service
US, SL advancing free, open, and resilient Indo-Pacific region: Embassy
Vetaran lankan artistes domiciled in UK felicitated in London ceremony
Forced disappearances, a contentious issue warranting NPP’s attention – FSP
‘Dates have the highest sugar content to fight Coronavirus’
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