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Lanka got fewer benefits from Belt and Road Initiative due to anti-China environment created here – CP

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APF members at a recent press conference on the BRI

In comparison with other countries, Sri Lanka had received fewer benefits from the Belt and Road Initiative, with investments amounting to 14 percent of the gross domestic product (GDP), the Communist Party of Sri Lanka (CPSL) affiliated Asia Progress Forum (APF) said.

The investments made by this Initiative in Laos and Cambodia are 140 percent and 60 percent, respectively of their GDPs, the APF said.

“This makes it clear that our country, which has over 2,000 years of relations with China, has benefitted very little from this Initiative. Moreover, the management of what we have already received has been sluggish and subject to discriminatory treatment, the APF said. The activities of the Colombo Port City may be cited as an example.”

Given below are excerpts of the APF statement: “Sri Lanka has received a low level of investment, as detailed above, because of its unstable policy situation and the anti-Chinese environment which has been created by Western vested interests. Fictional narratives such as “Chinese colony” and “Chinese debt-trap” have been publicised to the very highest level in our country. Fake narratives, such as “the Belt and Road Initiative strengthens autocracies,” have also been spread.

What is the autocracy which has been created by this Initiative in our country? Aren’t the United States and its allied Western countries the ones which interfere in our internal politics? Only about 10 percent of the foreign loans received by Sri Lanka have come from China. Yet over 42 percent are represented by short-term International Sovereign Bonds, for which high-interest loans have come from the capital markets of the West, including (prominently) the USA. Some 16 percent has been obtained by loans from multi-lateral institutions such as the World Bank.

“From this perspective, the loans received from the West total 58 percent. With the loan taken from the Paris Club, this figure exceeds 70 percent. This does not include loans from India. Nevertheless, the fictional “China debt-trap” narrative is what has been pushed in Sri Lanka.

“If not for the fake information and the wrong impression they create, we could have obtained considerable benefits from the Belt and Road Initiative, conditional on a stable policy framework. Chinese President Xi Jinping has clarified eight major steps for the future of the Belt and Road Initiative, from which we can get an idea of ways that Sri Lanka could benefit. In future this initiative will be multi-dimensional, encompassing land, sea and air.

“In the next five years, China will aid the openness of the world economy with $37 trillion in trade. In addition to large-scale projects such as those that were carried out hitherto, “small, but smart” livelihood programmes will also be promoted. This initiative will enhance green development and scientific and technological innovations. China will support the development of people-to-people connectivity and civilisational interaction. China is carrying out Belt and Road Initiative cooperation, based upon interconnectedness, as well as establishing institutions for international cooperation.

“We can expect Sri Lanka to receive benefits from the Belt and Road Initiative by basing itself on the above policy framework. Under this, we can expect a wide variety of activities, including establishing an Ocean University and vocational and technological educational institutes, village development, entering the Chinese market, and developing health, sports and recreation, media and communications, literature and arts, religious relations, care for the elderly and people-to-people connectivity.

The world order, which developed in a bipolar mode after the Second World War and in a unipolar mode after the fall of the Soviet Union, is being transformed to a multi-polar character by the Belt and Road Initiative. Western imperialism is weakening within this new international alignment, founded on the different world zones. Unable to tolerate these changes, the Western camp is promoting fictional narratives and relentless criticism of the Belt and Road Initiative. Having suffered under Western Imperialism for over 500 years, we should not be deceived by this propaganda. Basing ourselves on our own sovereignty, we should maximise the benefits we can receive from the Belt and Road Initiative.”



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Theft of USD 2.5 mn from Treasury: CoPF accused of complicity in NPP cover-up

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Harsha rejects what he called frivolous accusations

Chairman of Committee on Public Finance (CoPF) Dr. Harsha de Silva dismissed Free Lawyers’ claim that his Committee had helped delay a proper investigation into the theft of USD 2.5 mn (nearly Rs 1 bn) from the Treasury.

The Colombo District SJB MP said that he wouldn’t comment on frivolous accusations against his Committee. “We conduct ourselves in keeping with the highest standards of professionalism and responsibility.”

Dr. de Silva said so when The Island raised the Free Lawyers’ allegation that the Treasury and the Central Bank were using the CoPF as a tool to prolong investigations into the unprecedented theft of funds. Free Lawyers targeted the CoPF in a statement issued by Maithri Gunaratne, PC, and civil society activist Rajith Keerthi Tennakoon.

The other members of the CoPF are Harshana Rajakaruna (SJB), Ravi Karunanayake (NDF), Nimal Palihena (NPP), Wijesiri Basnayake (NPP), Thilina Samarakoon (NPP), Lakmali Hemachandra (NPP), Chathuranga Abeysinghe (NPP), Kaushalya Ariyaratne (NPP), Akram Ilyas (NPP), Shanakiyan Rajaputhiran Rasamanikkyam (ITAK), Champika Hettiarachchi (NPP), Sunil Rajapaksha (NPP),

M. K. M. Aslam (NPP), Ajith Agalakada (NPP), Rauff Hakeem (SLMC), Chitral Fernando (SJB) and Nishantha Jayaweera (NPP).

Tennakoon said the theft of funds happened over eight months ago and the Parliament owed the country a clear explanation regarding the disappearance of USD 2.5 mn. The CoPF, instead of expediting the process, has conveniently granted time for those responsible for the loss to cover up their tracks. “Free Lawyers pursue the issue at hand vigorously as we were the first to reveal the loss of USD 2.5 mn. Those who knew it remained silent until our disclosure,” he said, alleging that Speaker Dr. Jagath Wickremaratne was yet to respond to their letter regarding the USD 2.5 theft.

Responding to queries, Tennakoon said that political parties represented in the CoPF should be held responsible for the developing situation. “The Committee on Public Accounts Committee (CoPA) headed by SJB MP Kabir Hashim too, should explain its failure to deal with the USD 2.5 mn theft. Both CoPF and CoPA led by two SJB MPs should act now. Dr. de Silva and Hashim are answerable to the public, particularly because they represent the main Opposition.”

The CoPA consists of Kabir Hashim, Maj. Gen. Aruna Jayasekera (NPP), Sugath Thilakaratne (NPP), Anton Jayakody (NPP), Chandana Sooriyaarachchi (NPP), Ruwanthilaka Jayakody (NPP), Nalin Hewage (NPP), Oshani Umanga (NPP), Manjula Suraweera (NPP), Sagarika Athauda (NPP), Janaka Senarathna (NPP), K.Illankumaran (NPP), Dinidu Saman Henanayake (NPP), Susantha Kumara Navaratna (NPP), Lal Premanath (NPP), Aravinda Senarath (NPP), Thushari Jayasinghe (NPP), T. K. Jayasundera, Ajantha Gammeddage (NPP), Sundaralingam Pradeep (NPP), Kavinda Jayawardena (SJB), J.C. Alawathuwala (SJB),Hector Appuhamy (SJB), Kaveenthiran Kodeeswaran (ITAK), Chamara Sampath Dassanayake (NDF), Rohitha Abeygunawardena (NDF), M.L.A.M. Hisbullah (SLMC), M.A.M. Thahir (ACMC), Chanaka Madugoda (SLPP) and Sunil Ratnasiri (NPP).

Tennakoon said that both CoPF and CoPA were dominated by the NPP though the SJBers headed them. However, as heads of the two parliamentary committees, Dr. de Silva and Hashim, should be held responsible for lapses on the part of the committees or any deliberate omissions, Tennakoon said, questioning the rationale behind giving the Treasury and the CBSL six weeks to submit their findings to the CoPF.

Free Lawyers alleged that USD 2.5 had been released in spite of JP Morgan Chase and the Federal Reserve in the United States warning Sri Lanka about the suspicious nature of those foreign transactions via SWIFT messages. Tennakoon emphasized investigators should closely inquire into the decision taken to release funds regardless of such high-profile warnings.

Tennakoon said that the integrity of two key parliamentary committees is at stake. The civil society activist said that the country was in a highly critical phase of debt restructuring following a severe economic crisis. Tennakoon pointed out in terms of a condition of the International Monetary Fund (IMF) loan programme, the government’s debt management functions, previously carried out by the CBSL, were recently transferred to a new institution established under the General Treasury—the Public Debt Management Office (PDMO).

by Shamindra Ferdinando

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Viral diseases on the rise

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The number of patients hospitalised due to viral illnesses, including dengue fever, had increased significantly, health officials said yesterday, adding that there had been a rise in daily dengue-related admissions.

Acting Director of the National Dengue Control Unit Dr. Kapila Kannangara said Sri Lanka had recorded 41,144 dengue cases as of Saturday (13).

He said more than half of the reported cases—around 51 percent—were from the Western Province.

According to Dr. Kannangara, the number of dengue patients admitted to hospital daily had reached 750, but it had declined to around 630. However, he cautioned that infection levels remained “very high,” despite the slight drop in hospital admissions.

The dengue death toll has risen to 24, prompting several hospitals to issue red alerts amid continued pressure on wards treating incoming patients.

Health officials warned that the situation could worsen if case numbers continued to rise. Dr. Kannangara noted that the growing burden on healthcare facilities could eventually exceed system capacity.

The public has been urged to take preventive measures to eliminate mosquito breeding sites and to seek prompt medical attention if dengue symptoms develop.

by Chaminda Silva

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Ranil warns of another economic crisis, calls for Opposition unity

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Former President and UNP leader Ranil Wickremesinghe has warned that Sri Lanka is heading towards a severe economic crisis, alleging that the current administration is steering the country towards “total collapse.”

Addressing a meeting of the UNP Working Committee at the party headquarters on Flower Road on Thursday, Wickremesinghe claimed that the government was facing mounting difficulties on multiple fronts, with the economy continuing to deteriorate.

He also accused the administration of pursuing policies that, he said, marginalised war heroes and Buddhist monks.

Wickremesinghe expressed concern over what he described as an erosion of fundamental and legal rights, citing the arrest and alleged ill-treatment of former State Intelligence Service Chief Suresh Sallay as an example. He said the rising cost of living had emerged as one of the main concerns of the public.

Commenting on the political situation, the former President said the Opposition had not been able to forge unity among the anti-government forces and called for greater coordination among Opposition parties and groups. He advocated a phased mobilisation strategy, beginning at village and electorate level, instead of attempting to address all issues simultaneously.

Wickremesinghe also announced a series of political campaigns and rallies aimed at strengthening the Opposition movement. The programme is scheduled to commence in Kandy this weekend, with subsequent events planned in Kurunegala and Kalutara.

He said the UNP was engaged in discussions with several political parties and organisations, including those led by Minister Jeevan Thondaman, with a view to forming a broader political alliance.Wickremesinghe urged party members to expedite discussions and arrive at a collective decision on the way forward to address the country’s challenges.

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