Connect with us

News

IMF cranks up pressure on SL; next tranche put off to April – Verite chief

Published

on

Nishan de Mel

The International Monetary Fund (IMF) was cranking up pressure on the government of Sri Lanka to do its bidding, Executive Director of Verité Research Nishan de Mel said in a recent televised interview.

The IMF has converted some indicative targets given to Sri Lanka into quantitative targets,

“For example, the IMF has said Sri Lanka must publish the tax breaks it gives to various entities to ensure transparency. This was a normal commitment. Now, it has been converted into a structural commitment. It means that this commitment will be taken more seriously when the IMF releases the next tranche,” he said.

De Mel said that the IMF had insisted that tax exemptions not be given. However, the government continues to do so, he said.

“Successive governments have used the Strategic Development Projects Act (SDPA) to give significant tax concessions to various companies. On 22 December 2023, it used SDPA to give big tax breaks to China Merchants Port Holdings Company Limited (CMPort),” he said.

De Mel said that there should be a way to contrast the revenue forgone from such projects against their potential benefit in a transparent process.

“The IMF, on 12 December 2023, again insisted this. They said giving tax exemptions must end in December itself. But as mentioned, on 22 December, a tax exemption was given.

“This shows we are not serious about the national interest. We must not give tax exemptions if there is no rational basis. The more tax exemptions we give, the more taxes we will have to impose on people. VAT will have to be increased more, etc. The government needs revenue, but there must be some element of justness,” he said.

The Executive Director of Verité Research said that it was likely that the country will be able to finalise external debt restructuring by the end of March 2024. “The going has been slower than expected. Initially, the government said that could be done in June 2023. Then they said August 2023. The deadline was again postponed to December. Now, we are in January. We expect that this can be finalised by the end of the first quarter of 2024,” he said.

The IMF was to give the next tranche by March 2024, but it had been postponed to April, he said.

“It is best if we can finish debt restructuring as soon as possible. We must also ensure that we get an adequate haircut on the debt. It will be hard for us to recover if the haircut is too small,” he said. (RK)



News

Teachers’ unions ‘ready to bring govt. to its knees’

Published

on

Teachers, principals up in arms against alleged NGO driven education reforms

Teachers, principals and education professionals on Friday vowed to commence a nationwide campaign against the government’s plans to reform the education sector at the expense of what they described as cultural values.

President of the All-Ceylon United Teachers’ Association Ven Yalwala Pannasekera thera addressing a press conference yesterday said that trade unionists would join forces to urge the government to withdraw its educational reforms.

“We are ready to form a common front with education professionals, teachers and principals against this government. We demand that the government withdraw these reforms or get ready to go home,” Ven Pannasekera said.

“Some modules promote homosexuality. Contents in some of the modules being distributed have been copied from Indian text books.

We ask the government to explain why it had paid the National Education Institute curriculum designers,” Ven Pannasekera said.

Meanwhile, representatives of 16 teachers’ and principals’ unions visited the National Child Protection Authority yesterday to lodge a complaint demanding a probe into the inclusion of materials promoting homosexuality in school books.

Concerns were also raised at a National Sangha Council meeting held in Colombo last week at the Colombo Foundation Institute, organised to discuss the objectives of the proposed reforms.

Addressing the gathering, Professor Venerable Induragare Dhammaratana Thera said the reforms required extensive discussion, consultation with subject experts and consideration of the experience of senior administrators.

He warned that the proposed education reforms could trigger the biggest crisis currently facing the country. “Implementing these reforms in this manner will harm future generations and could even destroy the present government,” he said, likening the process to “forcing a round peg into a square hole.”

Continue Reading

News

Education Ministry drops idea of extending school hours

Published

on

The Ministry of Education on Friday decided not to extend school hours for the 2026 academic year, citing the ongoing impact of recent disasters on schools and transport systems in several provinces.

According to the Ministry, school hours for Grades 5 to 13 will remain unchanged at 7:30 a.m. to 1:30 p.m. until both education and transport networks are fully restored.

Government schools, government-approved private schools, and pirivenas are set to begin the first term of 2026 on January 5. Students in Grades from 6 to 13 will have seven 45-minute periods a day.

Education reforms will be introduced for Grades 1 and 6 in 2026.

The Ministry confirmed that activity books for Grade 1 and learning modules for Grade 6 will be distributed before lessons begin. Textbooks for all other grades have already been fully handed out.Meanwhile, the remaining sessions of the 2025 G.C.E. Advanced Level examination are scheduled to take place from January 12 to January 20, 2026.

by Chaminda Silva ✍️

Continue Reading

News

SLRC to disburse Rs 2420 mn in relief funds to 28,000 families

Published

on

The Sri Lanka Red Cross Society will provide relief funds totaling Rs. 2,420 million to assist 20,000 families displaced and 8,000 families who have lost their livelihoods due to cyclone Ditwah.

Accordingly, the Society has arranged to give Rs. 1,620 million to 20,000 displaced families, at the rate of Rs. 85,000 per family, and Rs. 800 million to 8,000 families who lost their livelihoods, at Rs. 100,000 per family, Sri Lanka Red Cross Communications Head Navindra Senarathne told the Sunday Island on Friday.

He said the funds for the 20,000 displaced families would be distributed in three instalments.

A total of 20,000 families across the country, including 1,505 families in the Trincomalee District, have been selected for this relief, with beneficiaries identified by the decision-makers of the Sri Lanka Red Cross Society, he added.

In addition, the Society is preparing to install toilet systems in 400 safe centers and provide 15,000 sets of school equipment worth Rs. 7.5 million, Navindra Senarathne told the Sunday Island.

By Sirimantha Rathnasekera ✍️

Continue Reading

Trending