News
JVP: SLPP members won’t be able to distance themselves from Budget 2024
By Shamindra Ferdinando
Jathika Jana Balawegaya (JJB) MP Vijitha Herath yesterday (14) said that having supported the preparation of the 2024 Budget proposals, the Sri Lanka Podujana Peramuna (SLPP) couldn’t complain now of what was presented by President Ranil Wickremesinghe, in his capacity as the Finance Minister.
The Gampaha District lawmaker pointed out that both State Ministers of Finance, Ranjith Siyambalapitiya (SLPP Kegalle District) and Shehan Semasinghe (SLPP Anuradhapura District) had been present at the finalisation of the budget proposals at President Wickremesinghe’s official residence at Mahagamasekara Mawatha (formerly Paget road) on Sunday (12).
MP Herath said so when The Island sought JJB’s response to former President Mahinda Rajapaksa and ex-Minister Namal Rajapaksa distancing the SLPP from the budget proposals. The JVP leads the JJB. MP Herath pointed out that SLPPers in the Cabinet, too, endorsed budget proposals therefore the Rajapaksas attempt to question budget proposals didn’t hold water.
Except for President Wickremesinghe and Ministers Manusha Nanayakkara and Harin Fernando (both members of the SJB) all other members of the Cabinet, including Prime Minister Dinesh Gunawardena were either elected on the SLPP ticket or appointed on its National List.
The JVPer stressed that Budget 2024 was Wickremesinghe-Rajapaksa government’s baby, therefore the SLPP would have no option but to vote for it. Responding to another query, the top JJB spokesperson reminded the SLPP that Wickremesinghe was chosen as Finance Minister and President in April and July, 2022, respectively by the SLPP and then it overwhelmingly endorsed the UNP leader’s mini budget presented on Aug 30, 2022.
A total of 115 MPs voted for the interim budget whereas the JJB’s three members and two All Ceylon Tamil Congress MPs voted against it.
Soon after the presentation of the 2024 Budget MP Namal Rajapaksa said most of the proposals in Budget 2024 had been announced at the mini budget. “Those proposals haven’t been implemented at all therefore they were presented again,” MP Rajapaksa said, declaring that the SLPP was waiting to see whether this year’s presentation too was only talk.
MP Rajapaksa said that as Wickremesinghe presented Budget 2024 as Finance Minister of the Pohottu government, the ruling party’s proposals, too, should have been included.
MP Herath said that as two SLPP MPs functioned as State Ministers of Finance, the party owed an explanation whether the SLPP parliamentary group furnished proposals to the Finance Minister. The JVP insisted that the SLPP couldn’t under any circumstances deny Budget 2024 being its responsibility unless they voted against it.
The President’s party UNP is represented in Parliament by single National List MP Wajira Abeywardena. Lawmaker Herath said that President Wickremesinghe during the budget presentation reminded the SJB that they reached consensus on some of the proposals when they were on the same side. The President was referring to the 2015-2019 Yahapalana administration.
MP Herath said that the contrary to SJB statements, the main Opposition party could easily reach consensus with the Wickremesinghe-Rajapaksa budget proposals.
The JVPer pointed out that the proposal to divest 20 percent stake in each of the two major State Banks had been a longstanding project of the UNP and President Wickremesinghe seemed hell bent on implementing what he couldn’t do in the 2002-2003 and 2015-2019 periods.
Commenting on the SLFP, MP Herath said that those SLFPers who had received portfolios would back the budget hence the party’s stand is irrelevant, the JVPer said.
News
Sri Lanka, India caught in US-Iran ship crisis
By Shamindra Ferdinando
Iran has sought the Indian intervention, at the highest level, to provide lifesaving support to the crews of empty Iranian vessels stranded just outside Sri Lanka’s 12-nautical mile territorial waters off Galle.
Sources familiar with the issue said that Iran had brought the developing situation to the attention of New Delhi as the crews of almost 20 vessels, included Indian nationals. Sources stressed that the group of vessels that unloaded crude oil a couple of months back were now stranded within Sri Lanka’s Exclusive Economic Zone (EEZ).
The US Navy torpedoed an unarmed Iran frigate, returning from India, on 04 March, 2026, about 19 nautical miles off the Galle coast. The unprovoked attack killed nearly 100 Iranians.
The Iranian Embassy in Colombo has inquired from the Indian High Commission of their response to the situation, sources said. The US has issued a global warning against providing food, water, medicine and other services to the Iranian vessels. The outcome of Iran-India talks on the issue at hand was not known, though sources asserted India may not throw its weight behind Iranian efforts to address the issue.
Responding to The Island queries, sources said both Sri Lanka and India were in a dilemma due to the US warning. India couldn’t ignore the plight of the Indian crew members and the Iranian vessels in its backyard.
The Sri Lankan government remains tight-lipped about the vessels stranded in its EEZ. Our efforts to elicit a response from relevant authorities were in vain. In addition to Indians, there are Bangladeshis among the crew members. Iran has explicitly stated the responsibilities of the countries concerned to provide assistance in terms of international law.
The Iranian position was articulated by its Ambassador to Sri Lanka, Dr.Alireza Delkhosh, recently. In a special statement, Ambassador Delkhosh emphasised that in terms of the Convention on the Law of the Sea (Article 98) as well as SOLAS and SAR
Conventions, Sri Lanka couldn’t refrain from providing the needs of the Iranian vessels stranded in its EEZ.
SLMC leader Rauff Hakeem lambasted the NPP government in Parliament for failing to provide assistance to the Iranian ships. The former Minister alleged that the government was simply carrying out dictates of the US. He strongly criticised the way Foreign Minister Vijitha Herath was handling the issue.
News
Namal further remanded
MP Namal Rajapaksa, who is in remand custody over the controversial Airbus deal, was further remanded until October 27 by the Colombo Magistrate’s Court yesterday (13).
Colombo Chief Magistrate Asanga S. Bodaragama made the order after considering submissions by officers of the Commission to Investigate Allegations of Bribery or Corruption and lawyers representing Rajapaksa.
News
IMF projects Lankan economic growth to moderate amidst mounting global uncertainties
Sri Lanka’s economy is expected to sustain its recovery over the next two years, although growth is projected to moderate amid mounting global uncertainties, according to the International Monetary Fund’s (IMF) latest World Economic Outlook.
In its World Economic Outlook 2026: Resilience Under Strain, Urgent Choices, the IMF projects Sri Lanka’s economy to expand by 4% in 2026, slowing to 3.7% in 2027, following estimated growth of 5% in 2025.
Inflation, meanwhile, is forecast to rise to 5.3% in 2026 and 5.4% in 2027, reversing the average deflation rate of 0.5% recorded in 2025.
Unemployment is expected to remain steady at 3.9% throughout the forecast period.
The projections come amid growing pressure on the global economy from the ongoing conflict in the Middle East, elevated energy prices, geopolitical tensions and trade disruptions.
Sri Lanka’s external position is also expected to weaken, with the current account balance projected to shift from a surplus of 1.6% of gross domestic product (GDP) in 2025 to deficits of 0.5% in 2026 and 0.3% in 2027.
The IMF’s outlook points to continued economic expansion in Sri Lanka, but with slower growth, rising inflation and a narrowing external surplus giving way to current account deficits over the forecast period.
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