News
Harsha urges dialogue between govt. and opposition on grave foreign exchange crisis
“Better understand problem….we’re all in this together”
Opposition SJB MP, Dr. Harsha de Silva, last week urged President Gotabaya Rajapaksa to initiate a dialogue with the opposition to find a way out of the country’s precarious foreign exchange crisis “to better understand the problem as we’re all in this together.”
Quoting several recent news reports and accusing the Central Bank Governor Ajith Nivard Cabraal of making “factually incorrect statements,” the respected economist MP said: “……. I urge President Gotabaya Rajapaksa to initiate a dialogue with us, the Opposition, to better understand the problem and find solutions together, as we are all in this together.”
He prefaced his request for a dialogue with the following remarks:
“The Governor of the Central Bank reiterates his factually incorrect statements to a certain newspaper today that there is no dollar shortage in the country. However, many other newspapers report otherwise. In fact, one of the leading newspapers states that we are in need of $20mn to clear 2,000 containers stuck at the port, while another claims that we are not able to import medicine as there is a shortage of dollars.
“Meanwhile, another prominent newspaper states that the Central Bank is preparing to sell more of our gold reserves, as we do not have sufficient financial resources to keep the country functioning. Who is the Central Bank Governor trying to fool? We are at the brink of an economic collapse with insufficient dollars to import essential commodities such as medicine, milk powder, fuel, food etc
“According to the Central Bank data, at the end of November 2021, we had a mere $1.5 bn of reserves left. Thereafter, at the end of December 2021, the Central Bank claimed that they possessed $3 bn of reserves after manipulating the data with a currency swap from China for an amount of $1.5 bn.
“However, at the end of January 2022, we possessed only $2.3 bn even with the currency swap with China, thus ending up with only $700 mn of usable reserves. Therefore, we are in a precarious situation as the Central Bank needs to settle a debt payment of $70 mn today (Feb. 9) and another Sri Lanka Development Bond payment on February 17 for $160 mn.
“These two payments themselves come to a total of $230 mn, thus depleting our reserves even further. Neither the Government nor the Central Bank has a plan to try and get us back on track and bring in dollars to not only pay off our debts but also money to pay for our essentials.
“Thus, I urge President Gotabaya Rajapaksa to initiate a dialogue with us, the Opposition, to better understand the problem and find solutions together, as we are all in this together.”
News
Water Board security guard nabbed with six kilos of ganja
A security guard attached to the National Water Supply and Drainage Board’s Gorakadeniya Water Treatment Plant has been arrested by Peradeniya Police after more than six kilos of cannabis were found inside the facility’s guard room.
The 25-year-old suspect, a resident of Gorakadeniya, was taken into custody following a targeted operation conducted by Peradeniya Police on 02 June based on intelligence received by Officer-in-Charge Chief Inspector Wijith Wijekoon.
During a search of the guard room, police officers recovered a bag containing approximately 6.1 kilos of cannabis, police said.
Investigators believe the suspect had been using the guard room as a storage location for narcotics.
Further inquiries revealed that the suspect had allegedly been engaged in distributing cannabis to various locations in the region using a motorcycle. Police said he had adopted a location-based delivery method to supply the narcotics to customers.
Authorities suspect that the individual had been involved in drug trafficking activities for a considerable period, and have obtained a detention order from court to facilitate further interrogation.
Police said the ongoing investigation is expected to uncover additional information regarding the suspect’s alleged links to a broader narcotics distribution network operating in the Peradeniya area.
The suspect is to be produced before court following the completion of preliminary investigations.
Peradeniya Police are conducting further inquiries.
By SK Samaranayake
News
Climate summit to map Lanka’s growth strategy
As climate-linked regulations, investor expectations, and financing requirements increasingly influence global trade and market access, the Sri Lanka Climate Summit 2026, will place business readiness at the centre of national conversation, with a high-level line-up of policymakers, international agencies, corporate leaders, and technical experts set to examine what climate preparedness means for Sri Lanka’s economy in practice. Organised by The Ceylon Chamber of Commerce, the Summit will take place on 9 June at the Grand Marquee, Taj Samudra Colombo.
Held under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story,” the Summit’s agenda will examine the realities of climate preparedness for businesses, industries, and policymakers, with discussions spanning investment readiness, disaster resilience, governance, industry transition, and climate finance.
The Summit will open with a high-level plenary titled “Is Sri Lanka Climate Ready for Investment?” exploring how climate readiness is increasingly influencing investor confidence, trade access, and economic competitiveness. Dr. Dammika Patabendi, Minister of Environment, will deliver the keynote address, and join a panel discussion that includes Shannon Cowlin, Country Director for Sri Lanka at the Asian Development Bank, Vimlendra Sharan, UN-FAO Country Representative for Sri Lanka and Maldives, and Dilhan Fernando, Chairman and CEO of Dilmah Tea. The discussion will examine the opportunities and barriers shaping Sri Lanka’s climate investment outlook, and will be moderated by Shiran Fernando, Secretary General and CEO of the Ceylon Chamber.
The conversation will then turn to resilience through “Build Better – Before, During, and Beyond,” a session focused on disaster preparedness and climate-linked disruptions, featuring keynote remarks by Marco Toscano-Rivalta, Chief of the Regional Office for Asia and the Pacific of the United Nations Office for Disaster Risk Reduction (UNDRR). Climate risk and adaptation specialist Rohan Cooray will join the discussion, moderated by Dr. Lalanath de Silva, Executive Director of Environmental Law Alliance Worldwide.
A second technical session, “Sector Pathways – Where Policy Meets Industry,” will examine how regulation, industry readiness, digitalisation, and finance intersect as Sri Lanka responds to emerging climate obligations. The session will feature keynote remarks by Azusa Kubota, UNDP Resident Representative in Sri Lanka, and an address by Dr. Lalanath de Silva, both of whom will then join the panel discussion featuring Secretary to the Ministry of Environment K.R. Uduwawala, Chief Advisor to the President on Digital Economy Dr. Hans Wijayasuriya, and Sanath Manatunge, Managing Director/CEO of Commercial Bank of Ceylon PLC. The session will be moderated by Saliya Wickramasuriya, Co-Chair of the Ceylon Chamber Energy Committee.
The private sector response will take centre stage during “Climate in the Boardroom: From Compliance to Competitive Advantage,” which will explore how companies are responding to climate disclosure requirements, sustainability expectations, and business risks while identifying opportunities for long-term competitiveness. The session will feature keynote remarks by Neha Khanna, Associate Director at Climate Policy Initiative, with perspectives from Sabrina Esufally, Managing Director of Hemas Consumer Brands, and Dr. Leonie Vaas, General Manager – Group Sustainability at Hirdaramani Apparel. Yasangi Muditha Randeni, Chief Sustainability Officer and AVP – Corporate Strategy & Sustainability at Aitken Spence PLC, will moderate the discussion.
The Summit will conclude its technical programme with “Unlocking Climate Finance: From Global Funds to Local Projects,” examining how Sri Lanka can better translate international climate funding into bankable, investable local opportunities. Rajesh Miglani, Senior Climate Business Specialist and Climate Anchor for IFC South Asia, will deliver the keynote address, while Dr. Ananda Mallawatantri, Co-Chair of the Climate Action Committee of the Ceylon Chamber of Commerce, will lead the discussion alongside Punyamali Saparamadu, Senior Vice President – Commercial of the Colombo Stock Exchange, and Shayani Weerasinghe, Sustainable Business Specialist at Expertise France
The Sri Lanka Climate Summit 2026 is expected to attract business leaders, policymakers, development agencies, sustainability professionals, financiers, and technical experts seeking to better understand how climate readiness is reshaping economic opportunity and business competitiveness in Sri Lanka.
News
CB Governor to brief House on fiscal policy and related economic matters next week
Central Bank Governor Dr. Nandalal Weerasinghe is scheduled to brief Members of Parliament on the country’s fiscal policy and related economic matters next Wednesday as Parliament convenes for sittings from June 9 to 12.
The awareness programme to be held within the Parliamentary Complex on June 10 was approved by the Committee on Parliamentary Business at its meeting on June 1 chaired by Speaker Dr. Jagath Wickramaratne. The session has been arranged at the request of Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha and will also be attended by senior Central Bank officials.
Secretary General of Parliament Kushani Rohanadeera said the parliamentary agenda for the four-day sitting had been finalised by the Committee on Parliamentary Business.
On June 9, Parliament will debate and seek approval for several orders under the Stamp Duty (Special Provisions) Act, Ports and Airports Development Levy Act, Excise (Special Provisions) Act and Value Added Tax Act, as well as a decision under Standing Order 119. A resolution under the Public Security Ordinance is also scheduled for debate and approval later in the day.
The following day, lawmakers will take up the Second Reading debate on the Telecommunication Levy (Amendment) Bill and the Finance (Amendment) Bill, while a resolution under the Essential Public Services Act is also due to be debated. An Opposition adjournment motion will be taken up at the end of the sitting.
On June 11, Parliament will debate the Mediation (Civil and Commercial Disputes) Bill at the Second Reading stage and an order under the Mutual Assistance in Criminal Matters Act before proceeding to an Opposition-led adjournment debate on the current situation of the country.
On June 12, Members will debate rules under the Central Bank of Sri Lanka Act and a supplementary estimate seeking approval for Rs. 20 billion in additional expenditure. Parliament will thereafter continue the adjournment debate on the Central Bank’s Annual Economic Review for 2025, which commenced on May 20.
As per the schedule, the period from 9.30 am to 10 am on each sitting day has been allocated for parliamentary business, followed by questions for oral answers. On June 10, however, questions directed to the Prime Minister will be taken up from 10 am to 10.30 am.
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