News
Former State FM Wickramaratna questions IMF’s Sri Lanka strategy
SJB MP Eran Wikramaratne has alleged that the ordinary public has been burdened with extremely high taxes even before the implementation of the IMF conditions. But the implementation of the taxes on the rich has been delayed until January 2025. According to the agreement between the government and the IMF, property, wealth and wealth transfer tax will be implemented beginning January 2025, he has said.
The IMF-government agreement aims to increase state revenue. The government exploits the poor and workers. The tax threshold has been reduced to the limit Rs. 100,000. The government should understand that today there are strikes in the country because the ordinary people cannot pay taxes.
MP Wickramaratne, who addressed the media at the office of the Opposition leader in Colombo, dealt with a report submitted by President Ranil Wickremesinghe to the Parliament on regards the IMF loan. The former State Finance Minister said questions arose about not only the government of Sri Lanka but also the IMF.
“The first page of the report, which provides extended financial credit facilities to Sri Lanka, states that “The IMF’s transparency policy allows for the deletion of market-sensitive information and premature disclosure of the authorities’ policy intentions in published staff reports and other documents”
“I can understand as a former banker that nobody should reveal market information. But I do not agree with this clause which says they must not disclose the authorities’ policy intention. I think the IMF needs to look at its own Transparency policy. Some of these global institutions talks to countries like Sri Lanka about transparency why not your policy intention what was the secrecy about your policy intention.”
“What has really happened due to this agreement is that Sri Lanka, which is burdened with debt and bankrupt without ability to repay them, has just taken another loan. The government supporters are celebrating the release of the IMF loan. It was shown in the media that crackers were being lit at the United National Party headquarters. Some people were also eating milk rice. If the government does not properly understand the reality that the government which was unable to solve the country’s problems, has taken this loan just to prolong the problem, the situation may worsen further.
“According to these conditions, we will have to curtail our expenditure.”
The very people who created economic and political instability in the country are coming forward to solve this problem. Therefore, people should be careful about this.
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.
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.
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.
Oscar-winning Star Wars editor Marcia Lucas dies aged 80
Hundreds arrested in France after wild Champions League celebrations
‘Disappointing’ – Sangakkara on Sam Curran turning out for Surrey with IPL still on
Truck carrying Afghan returnees from Pakistan flips on highway, killing 18
PSG beat Arsenal to win back-to-back Champions League titles after shootout
What Hegseth’s comments at Shangri-La Dialogue say about US foreign policy
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News2 days agoIMF urges Lanka not to meddle with exchange rate
-
News7 days agoPolice probe underway to ascertain links between criminals deported from UAE and local politicians
-
News6 days agoEaster Sunday carnage: Court told Maulana’s statement cannot be accepted without cross-examination
-
News6 days agoUK passport holder hiding here wants to have deportation order rescinded to leave without blemish
-
Opinion6 days agoUndermining the democratic political framework
-
Features3 days agoThe Division Bell Mystery
-
News7 days agoDickoya double murder suspect arrested
-
Midweek Review5 days agoIsraeli-US aggression won’t go unanswered -Iranian Ambassador