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Ahead of IMF approval, govt promises anti-corruption bill

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By SHIHAR ANEEZ

Sri Lanka expects to present an anti-corruption bill to the parliament in coming days, Cabinet Spokesman said, as the island nation has been urged by the International Monetary Fund (IMF) to reduce corruption.

The IMF has urged Sri Lanka to reduce corruption vulnerabilities through improving fiscal transparency and public financial management, introducing a stronger anti-corruption legal framework, and conducting an in-depth governance diagnostic, supported by IMF technical assistance in return to a $2.9 billion loan.

Sri Lanka, in return of the loan, has agreed to reduce corruption vulnerabilities through improving fiscal transparency and public financial management, introducing a stronger anti-corruption legal framework, and conducting an in-depth governance diagnostic, supported by the IMF technical assistance.

The IMF on Tuesday said that Sri Lanka has now received financing assurances from all major bilateral creditors, which will pave the way for consideration by the IMF’s Board on March 20 the approval of the Staff Level Agreement reached on September 1, 2022 for financing under an Extended Fund Facility

“We have discussed it in the cabinet before and the act has already being drafted by the Minister of Justice Wijedasa Rajapaksa,” Cabinet Spokesman Bandula Gunawardena told the weekly cabinet briefing on Wednesday (8).

“It will be definitely presented to the parliament in the coming days.”

Most Sri Lankans are furious about systemic corruption with political leaders are ignorant of curbing them.Activists and civil society officials have accused some politically influenced people of amassing wealth in an illegal way in foreign countries since 2005.

They have blamed failures to curb corruption for the unprecedented economic crisis which later turned into a political crisis.

Former president Mahinda Rajapaksa and his family members have been accused of acquiring wealth in abroad and many protesters during the prolonged three month protest last year have demanded proper investigations with the help of international organisations like the United Nations.Rajapaksa has rejected such allegations.

The protests forced them president Gotabaya Rajapaksa and his elder brother ex-premier Mahinda to resign in the face of furious public agitations against their wrong economic policies.

The resignation of Rajapaksa led the parliament to elect Ranil Wickremesinghe as the president in an unprecedented manner.However, President Wickremasinghe is yet to act on past corruptions under previous governments.

Last month Wickremesinghe said an Anti-Corruption Bill will be introduced and the government was taking steps to include the ‘Stolen Assets Recovery (StAR)’ initiative in this Bill, together with the assistance of the World Bank and the United Nations (ECONOMYNEXT)



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Cut power bills by 3-5%, don’t hike them, consumers demand

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By Anuradha Hiripitiyage

Electricity tariffs should be reduced by between 3 and 5 percent instead of being increased by 2.88 percent in the fourth quarter, as proposed by the National System Operator (NSO), Electricity Consumers’ Association Secretary Sanjeewa Dhammika said.

Addressing a media briefing in Maradagahamula, Divulapitiya, Gampaha, yesterday (16), Dhammika said a proper assessment of electricity generation costs, including the contribution of hydropower, could justify a reduction in tariffs.

He said the NSO had sought approval from the Public Utilities Commission of Sri Lanka (PUCSL) for a 2.88 percent tariff increase, which was expected to generate an additional Rs. 4,438 million.

However, the Commission had indicated that an increase of only 1.46 percent was warranted, amounting to Rs. 2,245 million, he said, adding that even this increase was unnecessary.

Dhammika alleged that the proposed revision sought to pass on to electricity consumers the financial burden arising from the non-arrival of five coal shipments and failed tenders.

“The Government had said that the burden of coal-related losses would not be passed on to the public. It is therefore unjust to make consumers bear these costs,” he said.

He pointed out that the PUCSL had forecast that hydropower would account for 32.34 percent of total electricity generation in the coming quarter, while the cost of such generation would represent only 3.45 percent of the overall cost of electricity production.

Consumers should benefit from the lower cost of hydropower generation rather than bear the burden of more expensive thermal power generation, he said.

Dhammika also questioned the inclusion of Rs. 669 million in capacity charges that had not been approved by the PUCSL, as well as a further Rs. 1,069 million to repay loans relating to incomplete projects.

Including such charges in the proposed tariff revision was unjustifiable, he said.

The PUCSL has given the public until October 30 to submit their views on the proposed tariff revision.

Dhammika said the possibility of increased hydropower generation in the coming weeks, as reservoir levels rise, should also be taken into account when determining electricity tariffs.

He maintained that tariffs could be reduced by 3 to 5 percent if hydropower generation was properly assessed and coal-related losses and unapproved charges were excluded from the calculations.

He further claimed that electricity tariffs could be reduced by as much as 10 percent through the promotion of renewable energy and the effective use of solar power and battery storage systems.

The Electricity Consumers’ Association urged the Government to withdraw the proposed tariff increase, insisting that consumers should not be made to bear costs arising from coal supply problems and other disputed charges.

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Asgiri Mahanayake calls for immediate release of Gnanasara Thera

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Most Ven. Warakagoda Sri Gnanaratana Mahanayake Thera

By S.K. Samaranayake

Most Ven. Warakagoda Sri Gnanaratana Mahanayake Thera of the Asgiri Chapter has called for the immediate release of Ven. Galagodaaththe Gnanasara Thera, who is currently serving a prison sentence, following a court ruling.

The Asgiri Mahanayake made the appeal when a delegation of senior prison officials, including Assistant Commissioner of Prisons and Director of Operations Senaka Pallegedara, called on him on the 16th.

During the meeting, the prelate warned that the continued incarceration of Ven. Gnanasara Thera could lead to a volatile situation and cause public agitation.

Responding to the appeal, the prison officials informed the Mahanayake Thera that the authority to order the release of Ven. Gnanasara Thera did not rest with the Prisons Department but with the President.

Other senior prison officials, including Rajeev Srimal Silva, Sampath Warnakulasooriya and Mangala Welivita, were also present at the meeting.

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Lanka Air Force joins multinational exercise in India

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A Sri Lankan Air Force Beechcraft King Air 360ER during Exercise Tarang Shakti 2026. Photograph: Sri Lanka Air Force

The Sri Lanka Air Force participated in a multinational air exercise in India, alongside the air forces of the United States, France and Germany, as Sri Lanka continues to expand military cooperation with foreign countries.

A Sri Lankan Air Force Beechcraft King Air 360ER aircraft, and a six-member crew, took part in Exercise Tarang Shakti 2026, held at Air Force Station Jodhpur, from September 26 to October 12.

The exercise was hosted by the Indian Air Force, under the theme “Power in Partnership,” and involved Australia, Bangladesh and the United Arab Emirates, among other participating countries.

According to the Sri Lanka Air Force, the exercise was aimed at enhancing operational cooperation and interoperability among participating air forces and providing opportunities to share tactics and operational experience.

India’s public broadcaster reported that the exercise included training and experience in planning and conducting joint multinational combat operations, including counter-air, air defence, reconnaissance and air-to-air refuelling missions.

The exercise also involved 32 countries as observers.

Sri Lanka’s participation comes amid increased military engagement with foreign partners. India and Sri Lanka recently exchanged 240 military personnel under a tri-service exchange programme.

Sri Lankan military personnel also recently participated in a counter-terrorism exercise with Russia, while a senior US Army Pacific official visited Sri Lanka and discussed opportunities for greater joint training.

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