Editorial
Post-budget state of play
The second reading of the Budget 2023 was comfortably passed last week with President Ranil Wickremesinghe strongly affirming that he will not permit another aragalaya and will not hesitate to use armed services muscle and, if needed, a State of Emergency to prevent it. Not surprisingly, it was thrown at his face that he would today not be President, and in that capacity, Head of State and Head of Government, but for the aragalaya. This is a fact of life that he cannot, and did not attempt to refute. But he did say that he did not ask for the job which, we are certain, is the truth, the whole truth and nothing but the truth. It was undoubtedly thrust upon him and he, unlike Opposition Leader Sajith Premadasa, did not first drop the catch and thereafter conditionally agree to accept the position of prime minister after Mahinda Rajapaksa was forced out of office. He accepted it presumably unconditionally.
Premadasa laid down the condition that a time frame for President Gotabaya Rajapaksa to relinquish office must be laid if he were to agree to be prime minister. And that too after Wickremesinghe, whose UNP was decimated to zero elected seats with him losing his own seat at the UNPs Colombo Central fortress. Nobody can quibble that RW holds an unconstitutional office. He was properly and constitutionally elected president by a comfortable majority to serve GR’s balance term after the former president fled the country and tendered his resignation from Singapore while Prime Minister Ranil Wickremesinghe was acting as president. RW was elected president by the Sri Lanka Podu Jana Peramuna (SLPP), a section of which party backed Dullas Alahapperuma as the common – barring the NPP/JVP – opposition candidate. Wickremesinghe was the Rajapaksa nominee for president earning for himself the sneering sobriquet of Ranil Rajapaksa. Thus he appears for all purposes the captive president of the SLPP.
As we have said before in this space, he will remain dependent on the pohottuwa until he is constitutionally enabled to dissolve parliament after February next year. But he formally went on record last week declaring that he will not dissolve parliament until the economy is stabilized. When that will happen is to all intents and purposes is anybody’s guess. Wickremesinghe, who our popular columnist Rajan Philips who returns to this page after a short absence today says was probably the first finance minister after Ronnie de Mel to write his own budget speech, did not even hint when the IMF bail out can be expected. Various straws are being floated in the wind but the earliest possible date seems to be March next year. Although the cost of living has hit unbearable heights with a sizable proportion of the population being compelled to forego one daily meal, the budget offered no tangible respite beyond repetition of long-held promises of social security cushions to the most vulnerable.
The last several days has seen the return to the country of former Finance Minister Basil Rajapaksa back from the U.S. whose citizenship he’s clinging on to unlike brother Gotabaya who gave it up to run for president. Basil was not long ago prevented, at the height of the aragalaya, from leaving the country but returned last week to a well publicized welcome at the VVIP lounge of the Bandaranaike International Airport. It has been widely perceived that BR pulls the strings that manipulate the SLPP. That view was enhanced by those who crowded the lounge to sycophantically receive him. They included the controversial presence of the chairman and a member of the National Police Commission (NPC). Former IGP Chandra Fernando who heads the NPC ineffectively pleaded his impartiality following the exposure of his airport presence with Basil’s cheer squad. Speaker Mahinda Yapa Abeywardene said a new NPC was being shortly appointed, implying that the rotten eggs in the existing body were soon being replaced.
With the Rajapaksas are returning to the national picture, the state-controlled Daily News on Friday front paged a photo of President Wickremesinghe with Mahinda and Shiranthi Rajapaksa at a DA Rajapaksa commemorative event in Colombo. There was a public celebration of MR’s 77th birthday both at the Abhayarama temple in Narahenpita, once the SLPP political headquarters, and at Tangalle where a jayapiritha reportedly attended by 1,000 monks had been organized. One uncontradicted report which we cannot confirm said that hefty contributions running from Rs. 50,000 to 100,000 each was collected from ministers, state ministers and corporation heads to fund this event. In a budget speech MR admitted making mistakes but did not specify what they were. Questions on whether these include the chemical fertilizer and pesticide bans, vanity projects bearing his name as well as Colombo’s Lotus Tower massively displaying the pohottuwa’s election symbol remain hanging in the air.
Perhaps President Wickremesinghe awaited the conclusion of the 2023 budget to expand his cabinet. There have been reports that he’s under pressure to do so and some observers have read ministerial ambitions among those who supported the budget. The voting figures clearly indicate the presence of Rajapaksa political muscle but whether this will presage, for instance, the return of Namal Rajapaksa to the cabinet only time will tell. The president’s focus would and obviously must be more on economic than political issues. While the critical situation that prevailed earlier this year with miles long petrol and gas queues are no longer present, the cost of living remains skyhigh. The budget offered no hope that this would change. Whether the ‘no dissolution before economic stability is restored’ declaration applies to any election whatever remains to be seen. That question will be answered by whether or not local authority elections will be held as scheduled by March 2023. That various machinations are afoot to delay these polls is very well known.
Editorial
Emperor’s new clothes
Friday 5th June, 2026
The Opposition’s propaganda mill is in overdrive, manufacturing various stories about a split in the JVP-NPP government. Mighty governments collapse not because their political enemies regain lost ground and turn the tables on them. They fall largely because the arrogance of power blinds their leaders to reality while their members dare not speak truth to power. Government members sing hosannas to their leaders and even defend the latter’s wrongdoing, committing collective political hara-kiri in the process. The incumbent JVP-NPP government has its fair share of acolytes who try to defend the indefensible.
Former Public Security Minister Sarath Weerasekera (SW), in his response to a recent editorial in this newspaper, has sought to lay the blame for the failure of the Gotabaya Rajapaksa (GR) government on others. In his letter published on the opposite page, today, he insists that the Rajapaksas had the national interest at heart. He implies that they never engaged in dynastic politics, and the 2022 economic crisis was due to factors other than the mismanagement of the economy.
The economy went into a tailspin during the GR government not solely due to the economic consequences of the Covid-19 pandemic and the repayment of foreign loans obtained by the Yahapalana government. Economists have pointed out that the pandemic did not cause bankruptcy on its own, but it acted as a major trigger that exposed pre-existing weaknesses such as high debt, weak foreign reserves, and overdependence on exports and tourism. All governments pay back loans obtained by their predecessors.
The GR government should have sought IMF help at the first signs of trouble. One may recall that acting on Central Bank (CB) advice, the Mahinda Rajapaksa (MR) government (2005-2010) secured IMF assistance and managed an emerging forex crisis, which would have derailed the war effort. If the GR government had heeded CB advice and taken action to increase tax revenue and shore up the country’s foreign currency reserves with IMF help, the 2022 economic crisis could have been averted.
Sri Lanka had to opt for a soft default and seek IMF assistance in 2022. The choice it had was between a soft default and a hard default, which would have ruined its chances of borrowing from external sources again. Sri Lanka was bankrupt, and that fact had to be announced.
The UPFA and SLPP administrations during MR’s second presidential term (2010-2015) and GR’s presidency (2019-2022) were in fact governments of the Rajapaksas by the Rajapaksas for the Rajapaksas. In the GR government, the number of key ministries held by the Rajapaksas increased to five. The share of government expenditure linked to the ministries controlled by them was more than 50% between 2010 and 2015 and between 2019 and 2022, according to political commentators. The other members of the MR government (2010-2015) became so disgruntled that a group of prominent UPFA MPs including ministers voted with their feet in 2014, and General Secretary of the SLFP Maithripala Sirisena went on to challenge MR in the 2015 presidential contest and secure the presidency. As many as 41 SLPP MPs broke ranks with the GR government in early 2022.
Aragalaya,
which crippled the Rajapaksa rule, began as a genuine, leaderless protest campaign against economic hardships, especially prolonged fuel shortages and power cuts. Some political forces infiltrated it subsequently, but it was losing steam when a group of SLPP goons set upon peaceful protesters at Galle Face in May 2022, and triggered a spree of retaliatory violence, which led to the ouster of the Rajapaksas, and paved the way for the 2024 regime change.
As for reconciliation, a retired Major General known for his distinguished military career and respected leadership, writing under a pseudonym––‘Old Soldier’––recently had this to say in his letter critical of the way the government handled this year’s War Heroes’ commemoration, which was the topic of the editorial comment under discussion: “Reparations are claimed by the winners in wars between nations. After civil conflicts there should be reconciliation. There should be no humiliation. When will commemoration of the dead be national in Sri Lanka?”
If the SLPP is to make a comeback, its leaders and their apologists must shed their aversion to self-criticism. The same applies to their equally self-righteous counterparts in other Opposition parties.
Editorial
Another game of chicken
Thursday 4th June, 2026
The government has locked horns with private bus operators, who are demanding a fare hike amidst soaring fuel prices. The former has rejected the fare hike demand out of hand, claiming that it is unfair. President of the Lanka Private Bus Owners’ Association Gemunu Wijeratne has threatened to launch a bus strike unless a fare increase is granted forthwith. He has claimed that there is legal provision for the annual bus fare revision due in July to be advanced. The government and the irate private bus owners are now playing a game of chicken.
School vehicle operators have warned that they will have to increase fees. Trishaw owners have also demanded a fare hike. Container truck operators have already increased freight charges by 5% to offset surging operating expenses, primarily driven by higher diesel prices, inflated costs of tyres and spare parts.
A brutal one-two combination—fuel price hikes and rupee depreciation—has sent all vehicle owners, save a few, to the canvas, so to speak. The prices of spare parts, lubricants and tyres have also skyrocketed. It is only natural that transport operators are demanding fare revisions. The government should stop making political statements and address the issues facing the transport sector. The public cannot take any more shocks, and another fare hike is something everyone needs like a hole in the head. It may not be feasible to grant the bus operators’ request for a fuel subsidy, but the government may be able to help them lower costs in some other way.
It will not be possible to overcome Sri Lanka’s balance of payments woes, strengthen the rupee and shore up foreign currency reserves without a proper strategy to reduce the national fuel bill, which accounts for more than 20% of the total value of imports. President Anura Kumara Dissanayake has pointed out that the country’s monthly fuel import expenditure has surged nearly six-fold. Driven by escalating tensions in West Asia, the fuel import bill rose from USD 98 million in February to USD 522 million in May, according to him. There is no gainsaying that drastic measures need to be adopted to reduce fuel consumption urgently. However, increasing fuel prices is not the only way to achieve this goal.
A country does not need a government to curtail the demand for fuel through price hikes. The JVP-NPP administration should be able to strategise to reduce fuel consumption through other means if it is to be considered worth its salt. Minister Anura Karunathilake and Ceylon Petroleum Corporation Chairman D. J. A. S Rajakaruna have gone on record as saying that action will be taken to have the QR-based fuel rationing system strictly regulated. Why didn’t the government care to do so earlier? If the fuel quota system is to be effective, the practice of motorists sharing the QR codes must be brought to an end. If the national fuel consumption has reached an unmanageable level, as President Dissanayake has said, will the government explain why fuel quotas were increased.
President Dissanayake and his government should learn from India’s efforts to reduce fuel consumption and adopt a top-down national austerity approach to conserve foreign exchange amidst external economic pressures. India’s strategy emphasises reducing official fuel use, adopting digital alternatives to travel, and promoting public transportation to manage energy consumption. After all, the JVP-led NPP came to power, promising austerity measures, which it must now adopt to curtail state expenditure while reducing the burgeoning import bill.
The JVP-NPP government is slow in responding to emergencies. Its disaster response following the landfall of Cyclone Ditwah was woefully tardy. It ignored warnings and waited until the country’s fuel reserves were almost depleted to introduce the QR-based rationing. It cannot wish away the threat of a private bus strike. It must get the bus owners around the table and have a serious discussion on how to resolve the transport sector woes instead of bellowing rhetoric.
Editorial
Lies and politics
Wednesday 3rd June, 2026
Opposition Leader Sajith Premadasa is reported to have lamented that in Sri Lanka, politicians who are adept at lying succeed at the expense of those who work really hard. He never misses an opportunity to project himself as a hardworking politician, and therefore his political rivals may claim that his lament smacks of self-promotion. Nevertheless, his argument is not untenable. During the last several decades, we have heard zillions of lies uttered by numerous political leaders, who have overtaken Machiavelli, Goebbels and even Matilda, who told “such dreadful lies” as made “one grasp and stretch ones’ eyes”. Opposition parties are lucky that people lose interest in their campaign lies after elections.
Lying is the name of the game in Sri Lankan politics. False promises made by politicians out of power should also be considered lies, for they are intended to deceive the public. What are usually described as the incumbent government’s lies are the false promises contained in the NPP manifesto or made by JVP/NPP politicians before the 2024 elections.
It has now become clear that the JVP/NPP leaders lied to the public when they said they were opposed to the manner in which debt was restructured and, if voted into office, they would renegotiate the bailout agreement signed between the IMF and the previous government. But after forming a government they opted to keep the agreement intact, and wisely so. The SJB has been saying something similar about the IMF programme, and it would have been exposed for lying if it had been able to form a government.
Some Opposition parties that have banded together to challenge the government claim that they would have handled the current energy crisis differently and granted relief to the people by reducing taxes on fuel. Accusing its political rivals of lying to garner favour with the public, the government insists that there is no way the fuel prices can be slashed. It finds itself in an IMF straitjacket, and has to fulfill the bailout conditions or lose IMF assistance. It is required to increase state revenue and ensure that energy prices are cost reflective, the JVP/NPP says. So, the only way the Opposition can disprove the government’s claim that it has to increase fuel prices to recover costs is to obtain a detailed cost breakdown and prove that the fuel prices are way above costs. The Opposition politicians shedding copious tears for the public ought to present facts and figures to support their claim that the government is jacking up fuel prices to meet the cost of extra diesel stocks purchased to operate the oil-fired power plants to make up for the Norochcholai generation loss caused by fraudulently procured low-grade coal. Mere rhetoric won’t do. Parliament is the best forum where the Opposition should pressure the government to reveal how fuel prices are determined.
Meanwhile, an SJB spokesman has said something that is construed in some quarters as an unwitting admission that the Opposition’s claim that the JVP-NPP government is not on the right course to strengthen the economy is false. Likening the JVP-NPP government, which is making a frantic effort navigate a host of vexed issues to straighten up the economy, to the proverbial bullocks pulling loaded carts up the steep slope of Haputale, SJB MP Mujibur Rahman has said the SJB is waiting until that task is completed to capture power. It is advisable to get the JVP-led administration to tackle the current economic issues because the JVP/NPP, after losing its hold on power, will never allow a future government to do so, he has said. He may have sought to make his party out to be smarter than the JVP/NPP, but what was intended as a back-handed compliment became an unintended compliment for the government besides exposing the Opposition’s hypocrisy. What one gathers from his statement is that the SJB is waiting to enjoy the fruits of the JVP-NPP government’s labour while criticising the ongoing economic recovery programme. In other words, the SJB knows that the government is doing what is necessary to strengthen the economy. If it is as patriotic as it claims to be, it should subjugate its political agenda to the national interest and help strengthen the economy.
-
News6 days agoIMF urges Lanka not to meddle with exchange rate
-
News3 days agoLankan duo emerge winners in Latin dance championship held in Blackpool, UK
-
Business4 days agoIMF’s unstated rate:Sri Lanka’s $695m loan costs about 5.33% per annum
-
News6 days agoState of emergency extended
-
Features5 days agoAre threats to Buddha Sasana external or from within?
-
News4 days agoUNP challenges NPP move to amend Vihara – Devalagam Act
-
Business4 days agoSri Lankan scientist-innovator Milinda Edirisinghe introduces AI-integrated gem testing system to gemological world
-
News3 days agoSri Lankan teen killed in Chennai clash; three arrested
