News
SL wouldn’t have been in this mess if IMF conditions had been complied with – State FM
By Shamindra Ferdinanado
State Finance Minister Ranjith Siyambalapitiya has said that Sri Lanka wouldn’t have ended up being bankrupt if previous governments had adhered to agreements with the International Monetary (IMF).
Reiterating that the country is experiencing the worst ever economic crisis, lawmaker Siyambalapitiya warned that the government would be under IMF scrutiny this time around.
Appearing on weekly Hiru political programme Salakuna on Monday (26), the Kegalle District MP, who had previously served as State Finance Minister during Mahinda Rajapaksa’s tenure as the President, said that successive governments hadn’t been honest with the IMF. “We conveniently forgot what was promised to the IMF after having received a couple of tranches,” MP Siyambalapitiya said adding that the IMF would be alert now.
The State Finance Minister said that the first tranche amounting to USD 400 mn was expected in January 2023. The SLFPer emphasised that the financial mess couldn’t be settled with the USD 2.9 bn received from the IMF over a period of four years. However, the agreement with the IMF would restore the foreign governments’ faith in Sri Lanka, the State Minister mentioned.
Pointing out that Sri Lanka had received IMF loans on 16 previous occasions and the recently finalised Staf- Level agreement would lead to the 17th loan facility, MP Siyambalapitiya said that he signed the 15th agreement on behalf of Sri Lanka.
Responding to Hiru anchor Chamuditha Samarawickrema’s query whether economic crimes had been perpetrated as referred to by the United Nations Human Rights Commissioner’s latest report on Sri Lanka, lawmaker Siyambalapitiya said that there were no such crimes here. Therefore, the Geneva statement was not applicable to Sri Lanka. But, when Samarawickrema pressed the Minister on the accountability on the part of former President Gotabaya Rajapaksa’s government for the economic fallout, the lawmaker acknowledged the wrongdoing on their part.
Commenting on former President Gotabaya Rajapaksa’s government depriving the Treasury of over Rs 500 bn by implementing a wide tax cut, soon after the last presidential election, State Minister Siyambalapitiya faulted those who advised the President on economic matters. The State Minister said that the economy was handled by Presidents and Ministers who didn’t know the subject. When Samarawickrema pointed out that the former President was advised by Dr. P.B. Jayasundera, MP Siyambalapitiya said that he didn’t know that. Subsequently, MP Siyambalapitiya acknowledged the role played by Dr. PBJ, who then functioned as Secretary to the President, and previously as Secretary to the Treasury.
During an heated exchange, the State Finance Minister said that the then government reduced the number of tax files from 1.5 mn to 400,000 and the number registered taxpayers from 1.7 mn to 500,000. The MP said that the country was in a pathetic state today as successive governments followed wrong economic policies. The Covid-19 eruption in 2020 and external factors, too, contributed to the overall deterioration of the situation, the MP said.
In spite of clear indications that the country was heading for an unprecedented crisis, the powers that be steadfastly refused to seek IMF interventions. Instead, they continued the same harmful policies.
Asked whether as the State Finance Minister he felt the need to inquire into those responsible for the economic crisis, the MP said “Geneva was conducting investigations.” Samarawickrema asked why Geneva should be placed in charge of such an investigation when the responsibility lies with Sri Lanka. The Minister said: “I won’t hand over investigations to Geneva. I acknowledge the policies followed by successive governments were utterly wrong.
State Minister Siyambalapitiya also explained actions taken by him to explore ways and means of recovering losses suffered by the Treasury as a result of reduction of duty on a kilo of imported sugar from Rs 50 to 25 cents on Oct 13, 2020. The Minister said that Sri Lanka lacked laws to deal with those who perpetrated the sugar scam, adding that one of the sugar importers immensely benefited from the duty reduction.
State Minister Siyambalapitiya strongly defended his decision to accept ministerial portfolio, regardless of specific instructions from party leader Maithripala Sirisena not to do so.
Dismissing accusations that he switched allegiance to President Ranil Wickremesinghe for personal benefit, lawmaker Siyambalapitiya said that some of them accepted portfolios, as the Samagi Jana Balavegaya (SJB), the JVP and others would never have joined the government. They always feared the consequences of President Wickremesinghe overcoming the crisis, MP Siyambalapitiya said.
News
Joint programme between President’s Fund and Janashakthi Foundation to expand healthcare facilities for children
A special collaboration between the Presidents’s Fund and the Janashakthi Foundation, aimed at expanding healthcare facilities available to children under the age of 18, was launched on Wednesday (06) morning.
Implemented under the theme “Building a Healthier Today for a Winning Tomorrow”, this national initiative has been introduced through the joint efforts of the President’s Fund and the Janashakthi Foundation with the objective of reducing the financial barriers associated with children’s healthcare.
Under the President’s Fund, only a portion of the medical expenses incurred by a patient is generally covered. However, under this new collaboration, the Janashakthi Foundation will provide either an equivalent amount or the remaining balance of the treatment cost, whichever is lower.
Speaking on the occasion, Secretary to the President’s Fund and Senior Additional Secretary to the President, Roshan Gamage, stated that the present Government had taken steps to decentralise and digitalise the operations of the President’s Fund, thereby transforming it into a truly people-centric fund. He noted that this had reinforced public confidence in the Fund’s transparency, accountability and effectiveness and added that the collaboration with the Janashakthi Foundation had further strengthened this process.
Gamage further stated that close and meaningful coordination with the private sector would help enhance healthcare assistance provided to children and minimise the gap between the financial aid available and the actual cost of essential medical treatment.
Also addressing the gathering, Managing Director and Group Chief Executive Officer of the Janashakthi Group, Ramesh Schaffter, stated that difficulties in accessing medical treatment constitute a major obstacle preventing children from progressing towards a better future.
He further stated that the collaboration seeks to reduce that obstacle by extending support to children who are in urgent need of assistance, thereby laying the foundation for future generations to face tomorrow with greater confidence.
Under this programme, applicants seeking additional financial assistance are required, when applying to the President’s Fund, to duly complete and submit a consent form authorising the secure sharing of their information with the Janashakthi Foundation.
The identification of children requiring financial assistance, verification of their information and approval of funds will continue to be carried out by the President’s Fund.
Under this initiative, payments will generally be made to the guardians of children following the completion of treatment. However, in cases involving emergency treatment and treatment conducted overseas, payments will be made in advance.
Applicants submitting medical assistance applications to the President’s Fund from 15 May 2026 onwards will be eligible to apply for additional funding from the Janashakthi Foundation.
The event, held at the Hilton Colombo, was attended by J.M. Wijebandara, Director General of Legal Affairs at the Presidential Secretariat and Advisor to the President (Legal Affairs); C.T.A. Schaffter, Founder and Chairman Emeritus of the Janashakthi Group; Gamika De Silva, Group Chief Marketing Officer; Dilshan Wirasekara, Deputy Chief Executive Officer of the Janashakthi Group; as well as officials of the President’s Fund and the Janashakthi Foundation.
President’s Media Division (PMD)
News
Maldivian President concludes state visit to Sri Lanka
The President of the Republic of Maldives, Dr. Mohamed Muizzu, departed Sri Lanka on Wednesday morning (06) from the Bandaranaike International Airport, Katunayake, concluding a successful state visit to the country.
The visit by the Maldivian President and his delegation further strengthened the longstanding friendship and cooperation between the Maldives and Sri Lanka, while delivering a range of mutual benefits to the peoples of both nations.
This marked President Muizzu’s first state visit to Sri Lanka, during which several mutually beneficial areas of cooperation were agreed upon, underscoring the success of the visit.
Minister of Science and Technology, Krishantha Abeysena, Minister of Youth Affairs and Sports , Sunil Kumara Gamage, Member of Parliament Oshani Umanga, along with senior officials of the Ministry of Foreign Affairs, were present at the airport to bid farewell to the Maldivian President, the First Lady and the accompanying delegation.
(President’s Media Division)
News
Govt. draws flak over Rs. 500 mn excess Aswesuma payments
Close on the heels of the USD 2.5 mn theft from the Treasury, the Welfare Benefits Board has reported payment of nearly Rs 500 mn in excess to Aswesuma beneficiaries.
Public action group ‘Free Lawyers’ has raised the latest fiasco to come to light with Speaker Dr. Jagath Wickramaratne, while requesting that the Parliament, in line with its constitutional obligations, initiate an inquiry.
The letter, dated 06 May, signed by Maithree Gunaratne, PC, Attorney-at-Law Athula de Silva, and Rajith Keerthi Tennakoon, on behalf of ‘Free Lawyers’, has alleged that some of the Aswesuma beneficiaries have been paid twice while others received the additional/extra payment.
Responding to The Island queries, Tennakoon said that sheer negligence on the part of those responsible for public finance was shocking.
Alleging that the NPP government seemed to be operating outside basic rules and regulations pertaining to public finances, the former Governor asked the Speaker whether the wrongful Aswesuma payments had been made due to political appointments made at the expense of the experienced and competent staff. (SF)
-
News2 days agoCJ urged to inquire into AKD’s remarks on May 25 court verdict
-
News6 days ago“Three-in-one blood pressure pill can significantly reduce risk of recurrent strokes”
-
News3 days agoUSD 3.7 bn H’tota refinery: China won’t launch project without bigger local market share
-
News6 days agoAlarm raised over plan to share Lanka’s biometric data with blacklisted Indian firm
-
News4 days agoEaster Sunday Case: Ex-SIS Chief concealed intel, former Defence Secy tells court
-
News5 days agoTen corruption cases set for court in May, verdict ordered in one case – President
-
News6 days agoUSD 2.5 mn fraud probe: Interdicted MoF official found dead at home
-
Editorial3 days agoDeliver or perish
