News
Money printing not panacea for current crises – civil society activist
Rs 20.14 bn printed in 30 days
By Shamindra Ferdinando
Former Governor of Uva, Southern and Central Provinces, Rajith Keerthi Tennakoon, yesterday (08) said that the developing political, economic and social crisis couldn’t be addressed by printing money.
The continuation of money printing to address the issues had jeopardised recovery efforts, Tennakoon said, in his new capacity as the Executive Director of the Centre for Human Rights and Research (Sri Lanka).
Tennakoon said that the government policy with regard to printing money remained the same even after Ali Sabry, PC, on April 04 succeeded Basil Rajapaksa as the Finance Minister. Dr. P. Nandalal Weerasinghe received the appointment as the Governor of the Central Bank on April 08, Tennakoon said.
Quoting from the latest Central Bank data, Tennakoon said that during the past four weeks (April 08-May 08), currency notes worth Rs 20.14 bn had been printed. The civil society activist asserted that this was the government response to its failure to restore political stability, increase revenue and control expenditure.
Pointing out that the ongoing Galle Face protest launched on April 09 and planned work disruptions during this week would cause further deterioration, Tennakoon said declaring that the ruling SLPP couldn’t absolve itself of the responsibility for prolonging the political crisis.
The top SLPP leadership appeared to have quite conveniently forgotten that one-third of its own parliamentary group demanded the removal of the Cabinet-of-Ministers, including Prime Minister Mahinda Rajapaksa. Noting that the public demanded the resignation of both President Gotabaya Rajapaksa and Premier Mahinda Rajapaksa over the current crises, Tennakoon said that since January 2020 the duo oversaw the printing currency notes worth Rs. 1,795 bn. This amount was even bigger than the annual state revenue, Tennakoon said, urging the government to take remedial measures before the collapse of the national economy.
In other words, the government, in spite of entering into a dialogue with the International Monetary Fund (IMF) and Finance Minister Sabry’ acknowledgement of mismanagement at the highest levels, the government seemed to be on the same track, Tennakoon said.
Tennakoon said that those at the helm of political power appeared to have ignored the warning signs. Sharp drop in tea exports, disruption of foreign orders/supply chains as a result of work stoppages in export zones, ruination of agricultural crops, disruption in lucrative fish exports and drop in tourist arrivals caused by shortage of fuel and gas as well as continuing protests meant the recovery process was yet to start, Tennakoon said.
Tennakoon warned that economic issues couldn’t be addressed as long as the government failed to resolve the simmering political crisis over the demand for the resignation of the entire Cabinet-of-Ministers, including the Prime Minister and some demanding the resignation of the Cabinet-of-Ministers and the President.
News
Record 1,600 students take Russian Classical Ballet examination in Sri Lanka
More than 1,600 students sat this year’s Russian Classical Ballet Examination, the largest number ever to take part in the examination in Sri Lanka. Exams were held in Colombo from 5, to 18, October and in Galle on 10 October.
Students aged four and above came from across the island, including Colombo, Galle, Gampaha, Negombo, Matara, Kelaniya, Panadura, Wattala, Kiribathgoda, Ratnapura, Kandy, Kurunegala, Bandarawela and Badulla. They are taught by 15 dedicated teachers trained in the Vaganova method, the renowned Russian system of classical ballet training.
They were examined by Dr. Oxana Karnovich of the Moscow State Academy of Choreography, a distinguished academic and curator.
The Russian School of Ballet and Dancing was established in 2001 by Michael Ustinov, Buddhapriya Ramanayake and Mrs Chandi Aluvihare, with Mrs Galina Pleshakova as its founding instructor. Today the School is led by Director Madam Maria Popova, Counsellor of the Embassy of the Russian Federation in Sri Lanka.

News
Buddhist hierarchy demands prison perks for monk convicts
MONETABRIEF– Sri Lanka’s two most senior Buddhist chapters, Malwatte and Asgiriya, demanded special concessions for monks serving prison sentences, following the disrobing of convicted monk Ven. Galagodaatte Gnanasara in line with established procedures.
The chief prelate of the Asgiriya chapter, Most Venerable Warakagoda Sri Gnanarathana, told Prisons Commissioner Senaka Palletenna that Ven. Gnanasara, who is serving a six-year sentence for contempt of court, must be released immediately.
Prison authorities have no power to release or pardon convicts, but Palletenna told the monk in Kandy on Friday that he would convey his request to the relevant government authorities.
“There is no point in talking about this and that… The entire country has been shaken (??????? ) . He must be released,” the Asgiriya chief prelate said.
The Malwatte chief prelate, Most Venerable Thibbatuwawe Sri Siddhartha Sumangala, appeared to accept the court verdict against Ven. Gnanasara, but asked the prisons chief whether a separate section could be established for convicted monks.
Palletenna noted that a special ward for the clergy already existed at Welikada Prison.
At least 63 convicted Buddhist monks are currently incarcerated within Sri Lanka’s criminal justice system.
Meanwhile, a group of 34 Buddhist monks named in a Colombo Fort Magistrate’s Court order to vacate the vicinity of the Presidential Secretariat ended their protest and dispersed after lunch on Friday.The monks are demanding an unconditional pardon for Ven. Gnanasara, who has previously been imprisoned, making him a reconvicted prisoner.
News
Debate on NCM against Speaker postponed indefinitely
The debate on the no-confidence motion against Speaker Dr. Jagath Wickramaratne, submitted by the Samagi Jana Balawegaya (SJB), has been postponed indefinitely pending the Attorney General’s opinion on certain technical issues in the motion.
Government representatives raised the matter at a meeting of the Committee on Parliamentary Business, pointing out that several provisions of the motion required clarification and that the Attorney General’s advice should be obtained.
As obtaining the opinion would take time, the debate could not be scheduled for the next parliamentary week, parliamentary sources said.
Chief Opposition Whip Gayantha Karunatilaka said a date for the debate would be decided after the Attorney General’s advice was received.
Meanwhile, Parliament is scheduled to meet from October 20 to 23, Secretary General of Parliament Kushani Rohanadeera announced.
The parliamentary business for the week was finalised at a meeting of the Committee on Parliamentary Business held on Friday (16) under the chairmanship of Deputy Speaker Dr. Rizvie Salih.
On each sitting day, the period from 9.30 a.m. to 10 a.m. will be allocated for parliamentary business under Items 1 to 6 of Standing Order 22. Questions for Oral Answers will be taken up from 10 a.m. to 11 a.m., followed by questions under Standing Order 27(2) from 11 a.m. to 11.30 a.m.
On Tuesday, October 20, an Opposition-sponsored Adjournment Motion will be debated from 11.30 a.m. to 5.30 p.m.
On Wednesday, October 21, a resolution under the Public Debt Management Act and a Supplementary Estimate will be taken up for debate and approval from 11.30 a.m. to 5 p.m. The annual reports of five statutory institutions will subsequently be presented for approval without debate, while questions at the Adjournment Time will be taken up from 5 p.m. to 5.30 p.m.
On Thursday, October 22, the Second Reading debates on two Bills to amend the Poisons, Opium and Dangerous Drugs Ordinance (Bills Nos. 79 and 80) will be held from 11.30 a.m. to 5 p.m.
The annual reports of five statutory institutions will then be taken up for approval without debate, followed by an Opposition-sponsored Adjournment Motion from 5 p.m. to 5.30 p.m.
On Friday, October 23, the Second Reading debate on the Elimination of Rabies and Registration of Dogs Bill will be held from 11.30 a.m. to 5 p.m. A Government-sponsored Adjournment Motion will be debated during the final half-hour of the sitting.
-
Latest News5 days agoNissanka’s return headlines Sri Lanka’s Test squad against Pakistan
-
Latest News7 days agoFarhan and Sadaqat help Pakistan seal series in style
-
Features7 days agoIntake 16: 45 years of duty and honour
-
News7 days agoMalwathu Chapter issues statement on talks with President over Gnanasara Thera’s robes
-
News7 days agoCP alleges NPP has taken the blame for illegal US sanctions on Iranian vessels
-
News5 days agoSri Lanka, India caught in US-Iran ship crisis
-
Opinion7 days agoHow long can Sri Lanka remain silent on its demographic crisis?
-
Latest News5 days agoKusal Mendis’ unbeaten 87 hands Sri Lanka consolation win
