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Ranil likely to go for presidential poll first – sources
ECONOMYNEXT – Sri Lanka leader Ranil Wickremesinghe is likely to hold presidential election before any other polls after November 16 2023, three sources close to him said, as he seeks a $2.9 billion IMF loan to consolidate the economy which is on a slow recovery path from a crisis.
Wickremesinghe was elected as the president in the 225-member parliament on July 19, days after former president Gotabaya Rajapaksa fled the country fearing for his life following tens of thousands of protesters stormed into the presidential palace, demanding his resignation after his failed economic policies. He quit after reaching Singapore.
Sri Lanka’s opposition parties and many protestors who led the ousting of Rajapaksa are now demanding both local government and parliamentary polls citing that the current government has no mandate to be in power as its failed economic policies have forced the people to oust them.Presidency of Wickremesinghe, a six-time prime minister, has been criticized by the opposition and protestors as he was not elected by the public.
Wickremesinghe became the president when he entered the parliament through a national list after his center-right United National Party (UNP) failed to win a single parliament seat in the 2020 parliamentary polls.
“The president is considering the presidential poll first and it will give him a legitimate mandate to push for reforms that are now formulated,” a source close to Wickremesinghe told EconomyNext.
“He can be the president for two more years. But the reforms need more time to see the country economically recovered and is on a strong foot.”
Another source close to Wickremesinghe said there could be division among the current parliament composition if he goes for any other elections other than presidential.
“We see a slight recovery though the worst is yet to come after the implementation of tax policies and IMF reforms. Doing party politics in the next one year will reverse all the reforms,” the second source said.
Focus is on crisis
The President’s office did not comment on a possible presidential poll before both local government and parliamentary elections. However, an official at the president’s office said Wickremesinghe has not been focusing on “any election” now.
“Election is not his priority right now. He has never said anything in any election so far. He is busy with the economic policies to get the country out of the current mess,” the source, a senior official at the presidential secretariat told EconomyNext.
“He has categorically told internal officials that the country’s private sector, civil society organizations, all political parties, and the people should get together to face the current crisis and if we don’t unite, there won’t be a country to do politics after one year.”
The island nation’s political parties are now gearing up for an election. The former ruling center-left nationalist Sri Lanka Podujana Peramuna (SLPP), main opposition Samagi Jana Balawegaya (SJB), and Marxist opposition Janatha Vimukthi Peremuna have already started campaigns at village level.The parliament election should be held after August 5, 2025, five years after it was held. But President Wickremesinghe can dissolve the parliament and call for an early election after February 2023,
The tenure of the current presidency ends in November 2024. However, the incumbent president can call for an early election if the leader wants. This means Wickremesinghe can call for early election after November 16, 2023.
Latest News
Fuel prices increased
The Ceylon Petroleum Corporation (CEYPETCO) has announced a revision of fuel prices, effective from midnight on Saturday (May 30).
Accordingly,
the price of Auto Diesel has been increased by Rs. 15 to Rs.407 per liter,
the price of Super Diesel has been increased by Rs. 20 to Rs. 478 per liter.
the price of Petrol 92 Octane has been increased by Rs. 24 to Rs. 434 per liter
the price of Petrol 95 Octane up by Rs. 25 to Rs. 495 per liter
the price of kerosene by Rs. 20 to Rs. 285 per liter.

News
Sangha reform drives stymied from within: CBK
Former President Chandrika Bandaranaike Kumaratunga has called for a comprehensive reform programme within Sri Lanka’s Buddhist clergy, warning that repeated efforts to strengthen the Sasana have in the past been derailed by opposition from within sections of the Sangha itself.
In a statement addressed to the Mahanayake Theras of the three Buddhist chapters, Kumaratunga stressed that the long-term preservation of Buddhism depends on safeguarding both the Dhamma and Vinaya, or disciplinary code, and urged urgent internal reform to address what she described as deep-rooted structural weaknesses.
She noted that Buddhist history has consistently demonstrated that periods of institutional crisis were addressed through reform processes, citing precedents from the First Buddhist Council to reforms during the Kandyan era under Welivita Sri Saranankara Thera.
Referring to post-independence efforts, Kumaratunga said initiatives taken during the 1956 Bandaranaike administration to strengthen Buddhism were left incomplete following the assassination of former Prime Minister S.W.R.D. Bandaranaike.
She further stated that during her own presidency, plans to convene a Buddhist Council under the guidance of the late Madihe Pannasiha Mahanayake Thera had received government backing but were ultimately abandoned due to resistance from certain sections within the clergy.
The former President alleged that, on both occasions, vested interests benefiting from existing weaknesses within the Buddhist establishment had worked to obstruct meaningful reform efforts.
Warning that Buddhism in Sri Lanka is currently facing serious challenges, she called for a broad internal dialogue within the Sangha to identify root causes and implement both short- and long-term corrective measures.
Kumaratunga urged the Mahanayake Theras to take the lead in convening a Dharma Sanghayana, or Buddhist Council, and said she was prepared to work with senior lay Buddhist leaders to support such an initiative.
News
Court orders arrest of Basil
The Colombo Fort Magistrate’s Court on Friday ordered the arrest of former Minister Basil Rajapaksa, Tourism Promotion Bureau Chairman Bhashwara Gunaratne, Managing Director Rumi Jauffer and several others over the alleged misuse of Rs. 7.8 million belonging to the Tourism Promotion Authority during the 2014 Uva Provincial Council election campaign.
Magistrate Pasan Amarasena directed the Criminal Investigation Department (CID) to arrest and produce the suspects before court, after it was informed that they would be named under the Public Property Act on the advice of the Attorney General.
The CID told court that attempts to take the suspects into custody from their residences had been unsuccessful as they were not present.
The Magistrate also imposed an overseas travel ban on the suspects and ordered that the Controller of Immigration and Emigration be notified.
Investigations have reportedly revealed that the funds were used to print 12,000 T-shirts bearing an image of former President Mahinda Rajapaksa on one side and the name of a political party on the other.
According to the CID, the T-shirts were later distributed at a political event held in the Monaragala District.
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