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Govt. should not deviate from agenda of national needs in discussions to find solutions to crises – Eran

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Member of Parliament of the Samagi Janabalavegaya, Eran Wickramaratne has said the country’s crises cannot be resolved only by agreeing to the agendas of multilateral agencies that provide assistance to find solutions to the crises that Sri Lanka is currently facing. When holding discussions with the International Monetary Fund, the government should adopt a strategy to discuss not only their agenda but also to include our agenda of national interest.

Wickramaratne said this while addressing the debate held in Parliament yesterday (10) on the President’s policy statement.

The MP said:

The International Monetary Fund has advised us to revise the electricity tariffs. It has also been said to restructure the balance sheet of the petroleum corporation. It is also said to increase the perimeter of the external credit limit. As of now, our foreign debt is about 30% of the total debt.

Dealings have to be negotiated with other parties who agree to assist in resolving issues. The unique problem for Sri Lanka is the non-availability of dollars. There are also issues with financial problems and a balance of payments related to the budget. But we have no problem with banks. If we do not engage in negotiations to protect our banking system, the emergence of another crisis cannot be avoided.

Wickramaratne asserted that Sri Lanka should not ever consider the domestic debt restructuring proposal in particular. We must be firm in that position. Otherwise, while trying to solve one problem, the country may be pushed into another problem. If a banking crisis occurs, it will take another decade to resolve it.

He said:

In the economic crisis we are facing, the huge problem is the national debt. According to government statistics on public debt, the percentage of debt received from China is 10%. 13% from the Asian Development Bank, 9% from the World Bank, and 47% from sovereign bonds (ISB). 10% from Japan, 2% from India and 9% from all other countries.

Statistics prove that China has actually given more than what was shown in the debt stock. The China Exim Bank has given loans directly to several SoEs with sovereign guarantees and the government has not reported them as government loans. These loans given to public corporations are also government loans and the government itself has to repay them. Also, in Foreign Currency Financing, the amount to be paid to China Development Bank is not included as public debt. From this point of view, the total amount of debt received from China is about 20%.

There are other facts that explain the magnitude of our crisis. Japan’s JICA has stopped the concessional loan of 570 million dollars given for the construction project of the second terminal building at Katunayake Airport. And China’s Exim Bank has also stopped US $ 51 million offered for the construction of the first phase of the Central Expressway from Kadawata to Mirigama, Also, the World Bank announced, on July 29, 2022, that it will not lend to Sri Lanka until macroeconomic stability is established.

“How can the government solve the country’s problems in the midst of such crises” asked Eran Wickramaratne.

The government should understand that these problems cannot be solved just as suggested by other parties involved in the discussion with the government. When holding discussions with the International Monetary Fund, the government should be strategic to include our agenda in the discussion, instead of merely agreeing to follow their agenda alone.

Focusing on the President’s policy statement, Eran Wickramaratne quoted as follows:

“It is imperative to completely eradicate bribery, corruption, and fraud from this society. I will implement a national anti-bribery and corruption policy. We are also approaching combatting corruption with the International Monetary Fund,” declared in that policy statement.

But how can we deviate from the culture of corruption in our country? The main reason for this culture is bribery and corruption. The current Prime Minister also then said that the current President robbed the Central Bank when he was the Prime Minister.

What is clear when studying the history of the last four decades is that there is no way to find out how much the public funds of this country have been looted more or less by the politicians and high officials like chain links by making use of the words democracy, religion, racism and national security in front of them.

Politicians protect their fellow officers who are accused of irregularities and theft. Officers protect their employers – the politicians – and, throughout history, these two parties have been seen sneaking through the loopholes of the law through a soul bond and Wickramaratne demanded that apart from politicians, professionals, too, should come forward in order to build the country.



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The Sun is directly overhead Warakapola, Aranayaka, Gampola, Bibile, Inginiyagala, and Akkaraipattu at about 12:12 noon today (08)

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On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka from the  05th to 15th of April this year.

The nearest areas of Sri Lanka over which the sun is overhead today (08th) are Warakapola, Aranayaka, Gampola, Bibile, Inginiyagala, and Akkaraipattu at about 12:12 noon.

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AKD admits import of substandard coal, blames technicalities and supplier

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President

… announces temporary relief package

President Anura Kumara Dissanayake yesterday acknowledged in Parliament that the import of substandard coal had adversely impacted electricity generation.

“There’s an issue with the coal. That’s true,” the President said, addressing the House.

President Dissanayake maintained that the problem had not arisen from the tender process but from the failure of the supplier to deliver coal that met the required standards. “The issue did not arise from the tender process. It resulted from the supplier’s failure to deliver coal that met the required standards. I would also like to point out that coal is not tested by individuals through simple inspection or personal judgment; it is examined in certified laboratories,” he said.

The President went on to say that coal shipments are tested through certified laboratories before dispatch, and an initial payment of 80 percent was made after receiving laboratory certification confirming that the coal meets stipulated specifications.

The President said the balance 20 percent was released only after a second verification carried out by an Indian laboratory selected for the purpose in 2023. Tests had revealed that three shipments failed to meet the required specifications.

The President added that although some shipments had passed laboratory tests, operational assessments at the power plant indicated that the coal was not performing to the expected standard. As a result, the government had withheld the remaining payments for certain consignments, imposed penalties on some suppliers, and in a few instances suspended even the initial 80 percent payment.

He said the use of substandard coal would increase electricity generation costs as the shortfall would have to be compensated by alternative sources, such as diesel. However, he assured Parliament that the additional costs would be recovered from the coal suppliers and would not be passed on to consumers.

The President also said the government expected to receive the fourth and fifth tranches of financial assistance from the International Monetary Fund by the end of May. He told Parliament that Sri Lanka hoped to reach a staff-level agreement with the IMF by Thursday, which would enable the country to secure about USD 700 million in funding.

Meanwhile, the President announced a temporary increase in cash assistance under the Aswesuma welfare programme to provide relief to low-income households during the April festive season.

He said the government continued to face challenges in accurately identifying eligible beneficiaries but noted that Aswesuma remained the only available framework to determine eligibility. Under the scheme, current benefit categories include payments of Rs. 17,500, Rs. 10,000 and Rs. 5,000.

For April, the Rs. 17,500 allowance will be increased by Rs. 7,500 to Rs. 25,000, while the Rs. 10,000 payment will rise by Rs. 5,000 to Rs. 15,000. Beneficiaries in the transitional category will receive an additional Rs. 2,500. The temporary increases are expected to cost the Treasury about Rs. 8.5 billion and will apply only for the month of April.

Addressing electricity tariffs, the President said the adjustment that came into effect on April 1 had been determined earlier and was not linked to the present crisis. According to him, the increase for households consuming less than 30 units amounts to about Rs. 15 per month, while other tier increases translate to approximately Rs. 1 to Rs. 1.50 per day.

He said the government had considered three options to manage rising electricity costs: requiring the Ceylon Electricity Board to absorb the losses, transferring the burden entirely to the Treasury, or passing the cost on to consumers. Instead, the government opted for a shared approach involving the State, the public and the national power system operator.

Under this arrangement, consumers using less than 90 units of electricity will receive a subsidy during the next tariff revision. The government has allocated Rs. 5 billion per month for the programme, amounting to Rs. 15 billion over three months. The President said losses in the electricity sector during the same period were estimated at about Rs. 32 billion.

Turning to agriculture, the President outlined measures to stabilise fertiliser supply amid rising global prices. He said the Department of Agriculture currently held about 14,000 metric tonnes of urea imported at the previous price, while private companies also possessed stocks.

Following discussions with fertiliser suppliers, companies had agreed to release all remaining stocks purchased at the old price to Agrarian Service Centres. These quantities, together with government stocks, are expected to be sufficient for two paddy cultivation seasons.

However, fertiliser required for the third season would have to be imported at higher prices. The President said recent offers for urea ranged from USD 680 to USD 850 per metric tonne.

To cushion farmers from price increases, the government has decided to sell fertiliser for the third season at a fixed price of Rs. 10,200 per bag despite the estimated market price ranging between Rs. 13,500 and Rs. 14,000. The Treasury will absorb the difference, amounting to roughly Rs. 3,000 per bag, at a total estimated cost of about Rs. 1.7 billion.

The President also announced increases in fertiliser subsidies. Farmers cultivating paddy will receive Rs. 30,000 per hectare, up from Rs. 25,000, while subsidies for subsidiary crops during the Yala season will increase from Rs. 15,000 to Rs. 18,000. Small tea holders will receive a one-time additional payment of Rs. 5,000 per fertiliser bag in addition to the existing Rs. 4,000 subsidy.

He said the expanded fertiliser support programme would cost the government about Rs. 6.5 billion, with an additional Rs. 600 million allocated specifically for fertiliser subsidies.

The President also outlined plans to manage rising energy costs, particularly in the fuel sector. He said the government had considered allowing fuel prices to fully reflect market costs or introducing a subsidy mechanism.

According to current estimates, he said, diesel would exceed Rs. 600 per litre if sold strictly at cost. Instead, the government has decided to maintain the existing tax structure and provide Treasury-funded subsidies.

Under the proposed scheme, diesel will receive a subsidy of up to Rs. 100 per litre, while petrol will receive up to Rs. 20 per litre. Fuel prices will continue to be adjusted based on monthly cost calculations, with the next revision scheduled for May 1.

The subsidy programme is expected to cost around Rs. 20 billion per month and will operate for three months at an estimated total cost of Rs. 60 billion.

In addition, fishermen will receive targeted assistance. Small fishing boats will qualify for an extra Rs. 50 per litre fuel subsidy for up to 625 litres per month, credited directly to bank accounts. This will provide a monthly benefit of Rs. 31,250 per boat.

Multi-day fishing vessels will receive a fuel allowance of Rs. 150,000 per vessel during the three-month subsidy period, the President said.

By Saman Indrajith

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‘Sri Lanka – China relations: Community with a Shared Future’ launched

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Chinese and Sri Lankan officials at the book launch

The Chinese Embassy in Colombo launched the commemorative publication in connection with the 70 years of Sri Lanka Diplomatic Relations with China titled, “Sri Lanka – China Relations: Community with a Shared Future” on 03 April 2026 in the presence of a large distinguished audience.

Cao Jing, Deputy Director General of the Asian Department of the Ministry of Foreign Affairs, Officials of the Chinese Foreign Ministry, Diplomatic Corps, Xu Yan of the Chinese People’s Association for Friendship with Foreign Countries, officials of Ministry’s line agencies and state-owned enterprises and several other guests having interests in Sri Lanka participated at the event.

The commemorative publication captures the essence of Sri Lanka’s resilience as a nation by tracing its rich history, civilization and culture. It offers insights into salient features of Sri Lanka that has been recognized for ages as “a land like no other”.

The publication was authored by the distinguished career Ambassador Dr. Ananda Kumarasiri.

In delivering the opening remarks Ambassador Majintha Jayesinghe, expressed his appreciation to the author Dr. Ananda Kumarasiri. Recalling the establishment of Diplomatic Relations in 1957, Sri Lankan Ambassador stated that the impressive tapestry of genuine friendship that exists between our two countries since ancient times have grown exponentially.

Ambassador Majintha Jayesinghe expressed the aspiration that this book will present an insightful account of the rich heritage of Sri Lanka’s relations with China. He hoped that the commemorative publications would encourage future generations to look at the shared history and relations with pride and motivate them to further enhance this unique friendship and goodwill to higher vistas of achievements.

In his address, Ambassador, Dr. Ananda Kumarasiri among other important observations, pointed out that there is much scope for Sri Lanka and China to collaborate in a number of fields. In particular, he highlighted that China’s tremendous technological and industrial progress can be harnessed for Sri Lanka to embark into-the development of alternative sources of energy, backward integration of Sri Lanka’s primary resources that would ensure value added exports and also in recycling wastes from various primary resources.

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