News

`People swept away by economic tsunami’ -Eran

Published

5 years ago

2021/12/29

The main opposition SJB says that Sri Lanka is the only country in the world that has faced unprecedented price increases of essential commodities such as gas and fuel.

Addressing the media at the SJB office in Kirulapone, SJB MP Eran Wickramaratne on Sunday said that during the same period Sri Lanka degenerated into a dangerous situation with regard to its foreign exchange reserves.

Wickramaratne said even the countries in the Asian region had recorded a positive GDP growth, FDI and foreign reserves.

Before the start of the press conference, Wickramaratne observed a two-minute silence in remembrance of the tsunami victims, where over 35,000 Sri Lankans were killed 17 years ago on Boxing Day 2004.

Wickramaratne said that Sri Lankans were looking for solutions brought forward by an individual, a President, which had been greatly disappointing. As a result, the country had plunged into an Economic disaster through autocratic policies and family rule.

“In a society problems are complex and there are no easy solutions. There is a need for a wise leader who should have the support of a team who are honest and have proven expertise and experience in governance and economic management. People’s belief in an individual’s ability to steer the nation has ended in disarray ushering autocratic family rule. Higher officials take no responsibility for decision-making as their views and opinions are often disregarded.”

“Because of this family rule, the higher officials say they were not part of the decision-making process even though they were present at such discussions. Even the Cabinet of Ministers claims that they were not aware of Cabinet decisions, even though the Cabinet secretary has publicised those decisions. It proves the decisions are taken by a closed coterie, and the ministers have become just on-lookers. Recently, the Agricultural Ministry Secretary, who is an agricultural scientist, was removed from his position as he warned of the possibility of starvation due to the decision not to import chemical fertiliser. The Secretary had pointed out that it was due to ill advice and a dead rope given to the President by people who did not know the subject,” the former banker turned politician said.

Elaborating further, the MP explained that the promotion of myths and lies made people believe in an individual or family being able to rescue the nation. Speaking on corruption that had engulfed the country, he pointed out that millions of dollars had been paid for unseen aircraft and unseen fertiliser.

He said that Sri Lanka was an exception where revenue from exports, foreign direct investment had gone down due to economic mismanagement rather than the Covid pandemic. Almost all countries were affected by the pandemic, but not a single country was as badly affected as Sri Lanka, because of better economic management in those countries.

“The people of this country are being swept away by the economic tsunami just as they were swept away by the tsunami in 2004,” he said.

The MP referred to the irrational management of the exchange rate and forcing Sri Lankan workers overseas to convert their Dollar remittances at banks at Rs 200 per Dollar while the gray market was over Rs 250 per Dollar. The overvalued Sri Lankan Rupee logically encourages exporters to under invoice their exports in Dollars. Poor exchange rate management has caused foreign reserves to plunge to dangerously low levels.

Over 1.5 trillion Rupees of money printing by the Central Bank has been the main contributory factor pushing inflation into double digits within a short period. The average inflation rate of 2014-2019 of 3.5% has shot up to an average inflation rate of over 10% in 2019-2021. The inflation rate in November has exceeded 11%, Wickramaratne said.

All News Advertisement

Latest News

Flood warning issued to the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara

Published

13 hours ago

2026/09/20

Priyan

Due to heavy rainfall received in the upper catchment areas of the Mahaweli River over the past few hours, there is a risk of minor flooding in the low-lying areas surrounding the Mahaweli River within the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara.Residents living in the above mentioned areas and motorists using roads passing through these areas are urged to exercise extreme caution and remain highly vigilant regarding the prevailing situation.

Furthermore, residents living in close proximity to the Mahaweli River in these areas are advised to remain highly alert to the situation and take all necessary precautions to protect themselves from any potential flooding.The relevant disaster management authorities are requested to take all necessary measures in response to this situation.

Latest News

Landslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya

Published

13 hours ago

2026/09/20

Priyan

The National Building Research Organisation [NBRO] has issued landslide Red Alerts to the districts of Kandy, Kegalle and Nuwara Eliya effective from 14:00 hrs on 20.09.2026 To 14:00 hrs on 21.09.2026

Accordingly,
LEVEL III [RED] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pasbage Korale in the Kandy district, Dehiowita, Aranayake, Deraniyagala, Mawanella and Yatiyanthota in the Kegalle district and Kothmale West, Kotmale East, Ambagamuwa and Norwood in the Nuwara Eliya district

LEVEL II [AMBER] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka in the Colombo district, Nagoda, Thawalama and Neluwa in the Galle district, Bulathsinhala, Palindanuwara, Walallawita and Agalawatta in the Kalutara district, Ganga Ihala Korale in the Kandy district, Bulathkohupitiya and Kegalle in the Kegalle district, Akuressa and Pitabeddara in the Matara district, Thalawakele in the Nuwara Eliya district and Pelmadulla, Ratnapura, Ayagama, Kuruwita and Ratnapura in the Ratnapura district.

LEVEL I [YELLOW] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka in the Colombo district, Niyagama and Baddegama in the Galle district, Mirigama in the Gampaha district, Ingiriya in the Kalutara district, Udapalatha and Yatinuwara in the Kandy district, Galigamuwa, Warakapola and Ruwanwella in the Kegalle district, Kotapola, Pasgoda and Athuraliya in the Matara district, and Eheliyagoda, Kalawana and Elapatha in the Ratnapura district.

News

Development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common goal – PM

Published

15 hours ago

2026/09/20

Priyan

Prime Minister Dr. Harini Amarasuriya stated that development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common, people-oriented objective.

The Prime Minister made these remarks while participating in a discussion held on Friday [September 18] at the Western Province Council Auditorium to review the progress of the development project to rehabilitate Rathmalana Kandawala Road and the drainage system on either side of the road, within the Dehiwala–Mount Lavinia Municipal Council limits in the Colombo District.

The project, which commenced on September 10, 2026, is scheduled to be completed before June 30, 2027. Implemented by the Provincial Road Development Authority (PRDA), the project includes the construction of a bridge at a cost of Rs. 64 million, the rehabilitation of the drainage system at a cost of Rs. 930 million, and the rehabilitation of the road at a cost of Rs. 115 million.

The Prime Minister also paid special attention to the progress of the responsibilities assigned to the Western Province Council, the Irrigation Department and the Ratmalana Divisional Secretariat in accordance with decisions taken at the previous committee meeting. Attention was also given to the current status of the plans being carried out by the Sri Lanka Land Development Corporation (SLLRDC), as well as the construction and maintenance activities being undertaken by the Provincial Road Development Authority (PRDA).

Commending the expedite and commendable progress of the project, the Prime Minister particularly appreciated the commitment demonstrated by officials of the relevant government institutions to work in close coordination with one another and in collaboration with the political authority.

The Prime Minister also emphasised the importance of taking measures well in advance to control flooding and minimise its impact on Colombo and several other districts in view of the rainy weather that may affect the Western Province during the latter part of this year.

The meeting was attended by the Chairman of the Colombo District Coordinating Committee and Member of Parliament Lakshman Nipuna Arachchi, Chairperson of the Ratmalana Divisional Coordinating Committee and Member of Parliament Samanmalee Gunasinghe, Chairman of the Roads Sub-Committee of the Colombo District Coordinating Committee Dewananda Suraweera, Mayor of the Dehiwala–Mount Lavinia Municipal Council Parakum Shantha, Chief Secretary of the Western Province K.G. Pradeep Pushpakumara, along with a number of government officials.

[Prime Minister’s Media Division]