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CP blames 2022 crisis on JRJ policies

Published

8 months ago

2026/02/23

Weerasinghe

General Secretary of the Communist Party Dr. G. Weerasinghe has said the national economy nosedived in 2022 due to three factors. The depletion of the country’s foreign exchange reserves was the main factor caused by the huge chronic trade deficit blamed on the import/export policy implemented through the free/liberal/open trade policies implemented since 1978.

The second factor that led to the economic crisis was the steep decline in state revenue caused by the wrong tax policy followed by successive governments since 1978 by slashing direct taxes, giving tax concessions, imposing tax restrictions, and granting tax amnesties, especially to multinational corporations. Despite sucy concessions, Sri Lanka had not received substantial foreign investment did not receive

The third reason was the huge trade deficit and the gradually collapsing state revenue, which required more and more loans to be taken. Governments obtained loans from loans from lage private financial companies. in addition to institutions such as friendly countries, the International Monetary Fund, and the World Bank. Among those who provided such loans to the Sri Lankan governments were eight Sri Lankan financial companies.

Dr. Weerasinghe said so addressing the inaugural session of the CP’s national congress that commenced on 20 February in Colombo.

Dr. Weerasinghe said that the three basic policies, namely the import/export policy that caused the loss of dollars, the tax policy that caused the loss of rupees, and the debt-building policy, especially the borrowing policy of international/national moneylenders, are all policies that arose from the so-called open economy/free trade economic strategy introduced to the country in 1978.

At the onset of his speech, the founding leaders of the CP, including Dr. S. A. Wickramasinghe, Pieter Keuneman, Rev. Udakendawala Sri Saranankara Thero, A. Vaidialingam, P. Kandiah and M. G. Mendis were remembered with great respect.

Dr. Weerasinghe said: “In Sri Lanka, we tried implementing these policies for almost 50 years – since 1978. Our infant industries, which were being built behind state protection and with assistance from the socialist countries, were destroyed. We became a market for the products of the Global North. We borrowed from the Global North’s banks to afford to buy products made by the Global North’s industries. Eventually, an economic crisis erupted in the country and it exploded.”

“When we all came together in 1935 and founded the Sama Samaja Party, and later the Communist Party, one of their main objectives was to win sovereignty – national independence. After going through various stages in the fight for national independence, we became a Republic in 1972 and completed political independence. But a question has arisen as to whether we have true political freedom today in 2026. This question has emerged so strongly in the wake of the economic crisis that erupted in 2022.

“The free market system was introduced to the world by neoliberal leaders in the late nineteen-seventies. This system was based on the views of economists who were marginal after World War II, but became more powerful following the crisis of capitalism in the nineteen-seventies. The policies of these economists were accepted by the political leaders of the United States, Britain, and Europe. These leaders then intervened in the Global South to enforce these ideas and policies.

“The main aspects of the free market system introduced to the world were: Free trade, Free movement of finance, Restriction of state intervention in the economy and expansion of the role of the private sector

“The result of these policies are that everything is determined by a handful of private international monopolies in the so-called free market. The richest 1% get richer while the poor get poorer. The rich 1% decides how the social wealth is invested, and the poor have no voice. This system was forced upon developing countries, often by military dictatorship or authoritarian governments.

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Record 1,600 students take Russian Classical Ballet examination in Sri Lanka

Published

49 mins ago

2026/10/18

Priyan

More than 1,600 students sat this year’s Russian Classical Ballet Examination, the largest number ever to take part in the examination in Sri Lanka. Exams were held in Colombo from 5, to 18, October and in Galle on 10 October.

Students aged four and above came from across the island, including Colombo, Galle, Gampaha, Negombo, Matara, Kelaniya, Panadura, Wattala, Kiribathgoda, Ratnapura, Kandy, Kurunegala, Bandarawela and Badulla. They are taught by 15 dedicated teachers trained in the Vaganova method, the renowned Russian system of classical ballet training.

They were examined by Dr. Oxana Karnovich of the Moscow State Academy of Choreography, a distinguished academic and curator.

The Russian School of Ballet and Dancing was established in 2001 by Michael Ustinov, Buddhapriya Ramanayake and Mrs Chandi Aluvihare, with Mrs Galina Pleshakova as its founding instructor. Today the School is led by Director Madam Maria Popova, Counsellor of the Embassy of the Russian Federation in Sri Lanka.

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Buddhist hierarchy demands prison perks for monk convicts

Published

6 hours ago

2026/10/18

Thilina Walpola

MONETABRIEF– Sri Lanka’s two most senior Buddhist chapters, Malwatte and Asgiriya, demanded special concessions for monks serving prison sentences, following the disrobing of convicted monk Ven. Galagodaatte Gnanasara in line with established procedures.

The chief prelate of the Asgiriya chapter, Most Venerable Warakagoda Sri Gnanarathana, told Prisons Commissioner Senaka Palletenna that Ven. Gnanasara, who is serving a six-year sentence for contempt of court, must be released immediately.

Prison authorities have no power to release or pardon convicts, but Palletenna told the monk in Kandy on Friday that he would convey his request to the relevant government authorities.

“There is no point in talking about this and that… The entire country has been shaken (??????? ) . He must be released,” the Asgiriya chief prelate said.

The Malwatte chief prelate, Most Venerable Thibbatuwawe Sri Siddhartha Sumangala, appeared to accept the court verdict against Ven. Gnanasara, but asked the prisons chief whether a separate section could be established for convicted monks.

Palletenna noted that a special ward for the clergy already existed at Welikada Prison.

At least 63 convicted Buddhist monks are currently incarcerated within Sri Lanka’s criminal justice system.

Meanwhile, a group of 34 Buddhist monks named in a Colombo Fort Magistrate’s Court order to vacate the vicinity of the Presidential Secretariat ended their protest and dispersed after lunch on Friday.The monks are demanding an unconditional pardon for Ven. Gnanasara, who has previously been imprisoned, making him a reconvicted prisoner.

News

Debate on NCM against Speaker postponed indefinitely

Published

6 hours ago

2026/10/18

Thilina Walpola

The debate on the no-confidence motion against Speaker Dr. Jagath Wickramaratne, submitted by the Samagi Jana Balawegaya (SJB), has been postponed indefinitely pending the Attorney General’s opinion on certain technical issues in the motion.

Government representatives raised the matter at a meeting of the Committee on Parliamentary Business, pointing out that several provisions of the motion required clarification and that the Attorney General’s advice should be obtained.

As obtaining the opinion would take time, the debate could not be scheduled for the next parliamentary week, parliamentary sources said.

Chief Opposition Whip Gayantha Karunatilaka said a date for the debate would be decided after the Attorney General’s advice was received.

Meanwhile, Parliament is scheduled to meet from October 20 to 23, Secretary General of Parliament Kushani Rohanadeera announced.

The parliamentary business for the week was finalised at a meeting of the Committee on Parliamentary Business held on Friday (16) under the chairmanship of Deputy Speaker Dr. Rizvie Salih.

On each sitting day, the period from 9.30 a.m. to 10 a.m. will be allocated for parliamentary business under Items 1 to 6 of Standing Order 22. Questions for Oral Answers will be taken up from 10 a.m. to 11 a.m., followed by questions under Standing Order 27(2) from 11 a.m. to 11.30 a.m.

On Tuesday, October 20, an Opposition-sponsored Adjournment Motion will be debated from 11.30 a.m. to 5.30 p.m.

On Wednesday, October 21, a resolution under the Public Debt Management Act and a Supplementary Estimate will be taken up for debate and approval from 11.30 a.m. to 5 p.m. The annual reports of five statutory institutions will subsequently be presented for approval without debate, while questions at the Adjournment Time will be taken up from 5 p.m. to 5.30 p.m.

On Thursday, October 22, the Second Reading debates on two Bills to amend the Poisons, Opium and Dangerous Drugs Ordinance (Bills Nos. 79 and 80) will be held from 11.30 a.m. to 5 p.m.

The annual reports of five statutory institutions will then be taken up for approval without debate, followed by an Opposition-sponsored Adjournment Motion from 5 p.m. to 5.30 p.m.

On Friday, October 23, the Second Reading debate on the Elimination of Rabies and Registration of Dogs Bill will be held from 11.30 a.m. to 5 p.m. A Government-sponsored Adjournment Motion will be debated during the final half-hour of the sitting.