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Economy: UNP leader sounds dire warning

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UNP leader Ranil Wickremesinghe on Saturday said that the country would face bigger problems starting in the coming weeks if the government did not re-streamline its financial strategies immediately.

Speaking at a seminar organised by bankers in Colombo, the UNP leader said that the government would have to rethink its strategies to revive the economy as Sri Lanka was not qualified for the International Monetary Fund (IMF) Rapid Financial Initiative and the Indian credit line was coming to an end next month.

“A Sri Lankan delegation, led by the Finance Ministry, requested for rapid financial initiative assistance from the IMF and the latter had stated that Sri Lanka was not qualified for such a package. The Indian credit line will be over next month. On top of that the supply of fertiliser also faces uncertainty. Around 30 percent of fertiliser comes from Russia, and Sri Lanka is going to face an issue even during the next harvesting season. We are going to have a food shortage,” he said.

“The value of funds held in fixed deposits and value of funds held by EPF and ETF funds will decline by at least 59 percent. A person who is 30 years old may be able to escape this situation. Yet, how could a person who is about to retire manage the situation,” he queried.

“We warned of this economic crisis in 2020. We also said that Sri Lanka should go to the IMF in 2021. This did not happen. Therefore, we have to rethink our strategies to revive the economy and begin a new programme for survival,” the UNP leader said.

Wickremesinghe said Sri Lanka would face a bigger problem next month as the Indian credit facility given for fuel and the $ 1 billion loan scheme for essential commodities would end by the first week of May. There could be a severe food shortage in Sri Lanka in the future as the government was not able to provide the fertiliser needed for the Yala season yet.  The public, including the youth had taken to the streets, demanding the immediate resignation of the government; they said Parliament had failed to provide a proper solution. The people’s call for a radical change had to be heeded, he said.



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New Court of Appeal Judge Sajeewani Dilka Lakmali Sworn In

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Ms Sajeewani Dilka Lakmali Karunannayake was sworn in as a Judge of the Court of Appeal before President Anura Kumara Dissanayake at the Presidential Secretariat this afternoon (03).

She previously served as an Additional Solicitor General at the Attorney General’s Department.

The appointment has been made to fill a vacancy on the Court of Appeal.

Secretary to the President Dr Nandika Sanath Kumanayake was also present on the occasion.

(President’s Media Division)

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Sun directly overhead Madampe, Thorayaya, Thotagamuwa, Rattota and Kalavanchikudy about 12.09 noon today (03)

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The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (03) are Madampe, Thorayaya, Thotagamuwa, Rattota and
Kalavanchikudy about 12.09 noon.

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22A: SC urged to suspend hearing, appoint full bench

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Attorney-at-Law Sugandhika Fernando, on behalf of the Vinivida Foundation, petitioned the Supreme Court yesterday (02), seeking a full bench, excluding Chief Justice Preethi Padman Surasena, to hear the petitions challenging the 22nd Amendment Bill. She also requested that the hearing be suspended immediately until the matter was fully heard and determined.

Among the respondents are Chief Justice Surasena, the first respondent, and Attorney General Parinda Ranasinghe. Justices Yasantha Kodagoda, Shiran Gooneratne, Achala Wengappuli and Priyantha Fernando have also been named as respondents.

The petitioner has sought to have quashed the decision of the first respondent to appoint a five-member bench, which she alleged was made in violation of the norms of public law. She also sought a bench comprising all Supreme Court judges, excluding those cited as respondents, to hear the special determination applications on the 22nd Amendment.

The petitioner further contended that Chief Justice Surasena, who is due to retire on December 1, 2026, would be the main beneficiary of the 22nd Amendment.

The hearing of the petitions continued for a second day yesterday (02) before a five-member Supreme Court bench comprising Chief Justice Preethi Padman Surasena and Justices Achala Wengappuli, Arjuna Obeyesekere, Sampath Abeykoon and Gihan Kulatunga.

The hearing, which commenced on Tuesday morning, continued for nearly 12 hours, until 10:30 p.m.

Solicitor General Viraj Dayaratne, appearing for the Attorney General, submitted yesterday that the Government had presented the 22nd Amendment Bill to the Constitution and the Judicature (Amendment) Bill with the objective of expanding and streamlining the country’s judicial system.

After the Solicitor General’s submissions concluded, counsel representing the petitioners requested an opportunity to respond to the Solicitor General and the intervening petitioners. However, the Chief Justice declined to allow the petitioners’ counsel to make further oral submissions, concluded the determination hearing and directed them to file written submissions instead.

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