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JVP accuses SLPP of helping President supersede Parliament

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3 years ago

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By Rathindra Kuruwita

Sri Lanka Podujana Peramuna (SLPP) has allowed President Ranil Wickremesinghe to supersede Parliament with regards to public finance, JVP National Trade Union Coordination Centre Convenor Wasantha Samarasinghe told The Island.

He said the same Parliament that was unaware that Sri Lanka was going to default on April 2022, have voted for the resolution to restructure domestic debt without any understanding of its consequences.

The Government Printer, who had a million reasons to delay the printing of ballot papers for the local council polls, has worked on a Poya Day to issue a special Gazette notification about the domestic debt restructuring process, recently passed in Parliament, Samarasinghe said.

Samarasinghe added that Gazette has been issued by President Ranil Wickremesinghe in his capacity as the Minister of Finance under the Registered Stock and Securities Ordinance, No. 07 of 1937.

“Sri Lanka Podujana Peramuna (SLPP) MPs made Ranil the President. Now the SLPP has given Ranil power over public finance. The Parliament was given power over public finances because a single person should not have such power. However, it is obvious that Ranil now takes decisions on public finance on his own,” he said.

In this gazette, the President has given the Secretary to the Ministry of Finance, Economic Stabilization, and National Policies, and the Registrar of Public Debt the following powers; to offer to any holder of any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment the option of converting or exchanging, as the case may be, the holding as of 28th June 2023 or part thereof; to convert or exchange, as the case may be, any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment held by holders into Treasury Bonds to be issued under the Ordinance and to specify the manner in which payment of interest is made and the conditions subject to which such Treasury Bonds may be converted or exchanged, as the case may be, under the Ordinance.

“In April 2022, Sri Lanka declared bankruptcy. The Parliament didn’t know that we were going to default until the MPs saw the press release issued. The same Parliament has passed the resolution on domestic debt restructuring,” he said.

The domestic debt stock is about 42 billion U.S. Dollars. President Wickremesinghe said that he wants the foreign creditors to waive off 17 billion dollars, Samarasinghe said. That’s about 40 percent of the foreign debt stock.

“The President added that local debt holders must also waive off about 40 percent of the value of the debt. He said that there should be equity. However, it is the EPF and other pension funds that is taking a cut. Parliament has approved the stripping down of the EPF and the gazette issued is a part of laws that will be amended to implement what was approved by the Parliament,” he said.

Neither the President nor the Central Bank or Treasury officials have revealed how much of the domestic debt will be restructured, Samarasinghe said.

“122 MPs voted in favour of this resolution. I challenge anyone of those 122 MPs to tell us the amount of local debt that will be restructured,” he said.

The former MP said that for years EPF funds have been invested in sectors that gave less than market rates in return. Now, the government has officially declared that EPF will only get nine percent interest rate till 2038, he said. This is well below what people would have got if they invest in Treasury Bonds.

“EPF has loaned the government significant amounts of money at below market rates for a long time. We have asked the government to appoint representatives from unions and employers to the board that makes decisions on EPF. There are 2.4 million active accounts and 67,000 employers. Shouldn’t they have some representation? This is the largest fund in the country, but the money is being handled without any transparency,” he said.

In 2018, EPF was strapped with a 14 percent tax, up from 10 percent. The Central Bank governs the EPF finds, and it is also entrusted with restructuring domestic debt, and this is a clear conflict of interest. Meanwhile, the owners of the fund have no say in how their money is used.

There are 117 superannuation funds. Each year, due to the lowering of interest rates, workers will lose between 600 and 1000 billion rupees a year from EPF alone, he said.

“The government doesn’t let workers invest in higher-yielding sectors. The Central Bank invests EPF funds in things that give it low returns. After doing that, it proposes to further cut benefits for the workers. Between 2008 and 2012, EPF money was invested in stocks, and workers lost three billion rupees. Over the years, money was invested in SriLankan and other bad bets. How much money did the EPF lose due to the bond scam?” Samarasinghe asked.

Samarasinghe said that the government has done nothing to increase foreign revenue, and once the country starts to pay external debt, the dollar will significantly appreciate against the rupee.


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Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern and Southern provinces and in Monaragala district

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5 hours ago

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2026/04/19

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 18 April 2026, valid for 19 April 2026

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.


Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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‘Agents of the devil’ seeking to block Easter probe, Cardinal warns

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5 hours ago

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2026/04/19

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Warning that “agents of the devil who wish to hide the truth behind a wall of political posturing” were attempting to obstruct investigations into the Easter Sunday terror attacks, the Catholic Church has called for intensified public support and prayer to ensure justice for victims.

In a message issued ahead of the seventh anniversary of the April 21, 2019 bombings, Colombo Archbishop Cardinal Malcolm Ranjith said there were ongoing efforts by various forces to derail credible inquiries into the coordinated attacks that claimed 278 lives and left nearly 500 injured.

The statement noted that many of those killed had been attending Easter Sunday Mass when suicide bombers struck churches, including St. Anthony’s Shrine, Kochchikade, St. Sebastian’s Church, Katuwapitiya, and Zion Church, Batticaloa, causing widespread devastation and long-term suffering among survivors.

Seven years on, the Caridnal said, critical questions remain unanswered, including who masterminded the attacks, their motives, and why places of worship were targeted on Christianity’s most sacred day.

Full text of Cardinal Malcolm Ranjith’s message: On 21st April 2026, the Church in Sri Lanka will be commemorating the 7th Anniversary of the Easter Sunday bomb blasts, which killed 278 of our fellow human beings and brethren in the faith in the most brutal fashion. Most of these people had come to our Churches for Easter Sunday Masses and prayer services. Many families were rendered destitute. Nearly 500 people were injured and some of them carry life long disabilities, suffering from the after effects of these blasts. St. Anthony’s Church Kochchikade and St. Sebastian’s Church Katuwapitiya of the Catholic community and the Zion Church in Batticaloa were, quasi totally destroyed. The economy of the country suffered immensely with untold problems affecting many families, ever since then. However much we try to console the families of these victims, it is something that we humans are unable to achieve as only the Lord can truly console them.

Besides, we still do not know who murdered these people and caused so much of suffering to many others, and why and for what purpose they chose our Churches on a day that was most sacred to us to organize these attacks. After repeated pleas by the Catholic Church, now at last, the incumbent government and the security establishment, seem to be holding a credible inquiry into this episode of mass murder in order to find out who was really behind it.

And there are many forces actively seeking to obstruct these inquiries and divert the direction of the inquiry in an aimless fashion in order to hide the truth behind these attacks. They are nothing but the agents of the devil who wish to hide the truth behind a wall of political posturing. We need to storm Heaven and ask the Lord to strengthen the hands of the investigators to find out what really happened and who was behind this mass murder as well as why it was done to innocent people who had nothing to do with politics.

Hence, I call upon all of you to kindly storm Heaven with your prayers calling upon the Lord to help us find out what really happened that most tragic day. And so, I am declaring Sunday, the 19th of April 2026, as a special day of prayer for this purpose. I shall be most grateful to every one of you, beloved brethren, if you could recite special prayers in all the parishes of the Archdiocese at Sunday Mass on that day and offer prayers at home too for the success of these investigations. The special prayer for truth and justice for the victims of the bomb attacks, already approved by the Catholic Bishops’ Conference, could also be recited. I call upon all our Catholic devotees to join us in this effort.

Let us stand together firmly behind the efforts to find out the truth. Let us not be deceived by attempts of different people to hide the truth or divert attention in all kinds of directions in order to confuse the public.

May the Blessed Mother, our Lady of Lanka, intercede for us in this most important matter.

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Nation to mark Easter Sunday attacks with countrywide observances, march for justice

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5 hours ago

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2026/04/19

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A series of solemn religious observances and commemorative events will be held on Tuesday, April 21, to mark the seventh anniversary of the Easter Sunday terror attacks, with ceremonies planned across the island and a public march for justice in Negombo.

The programme will begin with a coordinated observance in churches nationwide. At 8:45 a.m., funeral bells will toll, followed by a two-minute silence in memory of the victims. At 8:47 a.m., bells will toll again as the faithful light candles or oil lamps, with the morning observance concluding in a special prayer service at 8:50 a.m.

Major ceremonies are to be held at key locations affected by the 2019 attacks.

At St. Anthony’s Shrine, Kochchikade, the commemoration will be led by Malcolm Cardinal Ranjith and Bishop Anton Ranjith. Proceedings will commence at 8:15 a.m. with the arrival of ambassadors and dignitaries. Following the national moment of silence and prayer at 8:45 a.m., invitees will participate in a candle-lighting ceremony at 8:47 a.m. The programme from 9:10 a.m. will include interfaith reflections and addresses by the Apostolic Nuncio, a representative of the United Nations, and Cardinal Ranjith.

At St. Sebastian’s Church, Katuwapitiya, religious observances will be conducted under the guidance of Bishop Maxwell Silva and Bishop J. D. Anthony. Holy Mass is scheduled for 7:30 a.m., followed by the tolling of bells, a two-minute silence, and the lighting of candles at the memorial monument at 8:45 a.m.

The day’s commemorations will culminate in a Prayer March for Justice in Negombo. The march is set to begin at 4:00 p.m. from the Maris Stella grounds, with clergy and lay participants proceeding to St. Sebastian’s Church, where bishops and priests will conduct a Benediction service.The events are expected to draw large numbers of clergy, devotees, diplomats and members of the public, as the nation continues to remember the victims and call for truth and accountability.

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