Connect with us

News

GL: ‘Aswesuma’ flawed, fresh scheme needed 

Published

on

frowns on privileged status to wealthy investors, bid to restore dissolved LG bodies

By Shamindra Ferdinando

Top Opposition Spokesman Prof. G. L. Peiris yesterday (02) demanded that the government cancel, what he called, the deeply flawed ‘Aswesuma’ social security project, to pave the way for a fresh scheme. Addressing the media at the Nawala Office of the breakaway SLPP faction, Nidahasa Janatha Sabhawa, the former External Affairs Minister dealt with the passage of the resolution on the ‘Domestic Debt Optimisation’ (DDO) in Parliament, the previous day, a move to amend three Acts in order to give the subject Minister (Prime Minister Dinesh Gunawardena) powers to restore dissolved local government authorities and ‘Aswesuma’

that caused countrywide turmoil.

Pointing out that several SLPP members had skipped Saturday’s vote on the resolution on DDO, National List lawmaker emphasized that the Wickremesinghe-Rajapaksa government unfairly burdened the Employees Trust Fund (EPF). Having repeatedly assured that the EPF with funds amounting to Rs 3 trillion wouldn’t be undermined in the DDO process, the government had targeted the country’s largest fund, Prof. Peiris said. That was nothing but a cruel attack on those struggling to make ends meet, the academic said.

The resolution received 122 votes while 62 voted against. Forty-two MPs abstained.However, the government conveniently left out wealthy investors who had no hesitation in taking advantage of the country’s predicament, the former minister said.

After Governor of the Central Bank Dr. Nandalal Weerasinghe declared bankruptcy in April 2022, wealthy financiers had invested in sovereign bonds at extortionate rates of interest. “Their motive was to make use of the perilous state of our economy to make a killing. They sought unconscionable profits in as short a time as possible. While the rates payable to these wealthy investors are left untouched, interest to be earned by the working people who are beneficiaries of the EPF has been reduced by the rate of income tax payable by the EPF being increased from 14 pc to 30 percent if fund declined to participate in the seriously flawed DDO exercise,” Prof. Peiris said.

The people should realise that the EPF’s participation was therefore not voluntary but enforced Prof. Peiris said. Therefore, the government strategy is not consistent with social equity, the dissident SLPPer said.

Prof. Peiris said the DDO process had been placed under the control of Finance Minister Ranil Wickremesinghe.Commenting on the raging controversy over the ‘Aswesuma’ programme, Prof. Peiris said that disruption that had been caused by ill-advised government was so much, the project couldn’t be repaired under any circumstances. There couldn’t be any other option than cancelling the announced list of beneficiaries and launching a fresh initiative as soon as possible to identify those who really required government assistance.

Pointing out that there had been well over half a mn public appeals and complaints in this regard, Prof. Peiris asked the government not to shift the blame to officials but to accept responsibility and initiate what he called a scientific examination of the poor with required technical expertise.

Those who planned to replace ‘Samurdhi’ with ‘Aswesuma’ ended up with egg on their face for want of a cohesive plan to identify the needy. The ex-minister dismissed a recent government declaration that remedial measures would be taken once appeals and complaints were received by July 10 as propaganda. “The system is so inconsistent with requirements, it cannot be salvaged by patchwork,” the MP said.

The senior politician said that the SLPP should be ashamed that one of its National List MPs, Jayantha Kategoda proposed to empower the Minister of Local Government to restore dissolved Local Government authorities. Declaring SLPP rebels’ intention to challenge the government move in the Supreme Court, Prof. Peiris said that the ruling SLPP and UNP with just one MP in parliament were trying to skip elections at all levels.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

CEB engineers raise alarm over power sector stability

Published

on

A senior electrical engineers attached to the Ceylon Electricity Board (CEB) have warned that unresolved structural and policy issues within the power sector could threaten the long-term stability of the national grid, urging authorities to act swiftly to address mounting technical and administrative concerns.

Speaking on condition of anonymity, they said the electricity network was operating under increasing strain due to delayed infrastructure upgrades, financial constraints, and growing demand.

“The national grid is not something that can be managed casually. It requires systematic planning, preventive maintenance, and timely investment. If these are compromised, the risk to system stability increases,” the engineers said.

They noted that several transmission and substation modernisation projects were behind schedule, while ageing thermal plants continued to shoulder a significant portion of the country’s base load demand.

“Engineers are committed to ensuring an uninterrupted supply. But professional expertise must be respected in decision-making. Technical matters cannot be subjected to short-term political considerations,” the engineers added.

Meanwhile, the powerful Ceylon Electricity Board Engineers’ Union (CEBEU) echoed similar concerns, warning that failure to address long standing professional and structural issues could have serious consequences for the power sector.

In a statement, the CEBEU has said that engineers have repeatedly called for reforms that safeguard the integrity of the utility and ensure that operational decisions remain grounded in technical evaluation.

“The electricity sector is a critical national asset. Any attempt to weaken institutional safeguards or bypass professional consultation will directly impact service reliability and long-term sustainability,” the union said.

The CEBEU has stressed the importance of transparent engagement between policymakers and technical personnel, noting that morale among engineers could be affected if their concerns continue to go unheard.

Industry analysts point out that the power sector plays a central role in Sri Lanka’s economic recovery efforts, particularly as the country seeks to expand industrial activity and attract investment. Stability in electricity supply remains a key determinant of business confidence.

The senior engineer stressed d that the objective of raising concerns is not confrontation but preservation of the grid’s integrity.

“Our responsibility is to the public. Electricity powers hospitals, industries, and homes. Safeguarding the system is a national duty,” he said.

With tensions simmering within the sector, stakeholders say meaningful dialogue between authorities, engineers, and trade unions will be crucial in ensuring that Sri Lanka’s power infrastructure remains resilient in the face of growing challenges.

By Ifham Nizam

Continue Reading

News

CB identifies 24 pyramid scams in Sri Lanka

Published

on

The Central Bank (CBSL) yesterday announced that investigations had identified 24 companies and applications operating prohibited pyramid schemes.

In a public notice issued under Section 83C of the Banking Act, No. 30 of 1988 (as amended), the CBSL said the following entities had been “ascertained and determined as prohibited schemes”: Tiens Lanka Health Care (Pvt) Ltd, Best Life International (Pvt) Ltd, Mark–Wo International (Pvt) Ltd, V M L International (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd, Fast3Cycle International (Pvt) Ltd, Sport Chain App / Sport Chain ZS Society Sri Lanka, OnmaxDT, MTFE App / MTFE SL Group / MTFE Success Lanka / MTFE DSCC Group, Fastwin (Pvt) Ltd, Fruugo Online App / Fruugo Online (Pvt) Ltd, Ride to Three Freedom (Pvt) Ltd, Qnet / Questnet, Era Miracle (Pvt) Ltd and Genesis Business School, Ledger Block, Isimaga International (Pvt) Ltd, Beecoin App and Sunbird Foundation, Windex Trading, The Enrich Life (Pvt) Ltd, Smart Win Entrepreneur (Pvt) Ltd, Net Fore International (Pvt) Ltd / Netrrix, Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd, SGO / sgomine.com and I.C.A.N Advertising (Pvt) Ltd and its affiliates icanonlineadvertising.com, bannercuts.com, bannercuts.lk, bannercuts.net and bannercuts.org

The CBSL said pyramid schemes, also referred to as multi-level marketing or direct selling schemes in certain instances, operate as recruitment-based programmes in which members enlist others into an expanding “downline” structure resembling a chain letter.

Under such arrangements, a portion of the fees paid by new recruits is channelled upwards to earlier participants, known as the “upline”, who are fewer in number.

The Central Bank warned that such schemes are inherently unsustainable, with the vast majority of participants at the lower tiers eventually losing their investments, while only a small number of early entrants are able to recover or profit from the funds contributed by subsequent recruits. It noted that when a pyramid scheme collapses, up to 99 per cent of those in the lower levels risk losing their money.

Continue Reading

News

Church urges patience, warns against interference with Easter attacks probe

Published

on

Director of Communications for the Archdiocese of Colombo, Rev. Fr. Cyril Gamini Fernando, yesterday expressed confidence that ongoing investigations into the 2019 Easter Sunday terror attacks would yield meaningful results and urged the public and all stakeholders to exercise patience and allow the probe to proceed independently.

Addressing a media briefing in Colombo yesterday, Fr. Fernando called on all parties to refrain from interfering with the investigations, warning that any attempt to obstruct the process would amount to a grave injustice to the victims.

He said he believed there was credible evidence to warrant the arrest of military intelligence veteran Maj. Gen. (Retd.) Suresh Sallay.

Referring to the coordinated bombings on April 21, 2019, which targeted churches and hotels and claimed nearly 300 lives, Fr. Fernando described the attacks as a “barbaric” act and a “massacre” that killed worshippers attending Easter services as well as individuals from different religious and ethnic communities.

By Norman Palihawadane

Continue Reading

Trending