News
President outlines his track record since assuming office in 2022
President Ranil Wickremesinghe told Parliament yesterday, making a statement, that he had assumed leadership of the country without any conditions, despite being a sole Member of Parliament from his party.
The President said he expected to conclude all negotiations with external creditors by the middle of this year, and that the ultimate goal of debt restructuring was to reduce the total amount of debt to 95% of the GDP by 2032.
Furthermore, he mentioned that during the first three months of the year, the exchange rate of the US dollar had been brought down to below Rs. 300 and the foreign reserves raised to a value of more than USD 5 billion.
He said a salary increment for government employees could be considered only next year based on the economic growth of 2024 and state income since the current revenue was not sufficient.The President emphasised that achieving a consensus was not solely the responsibility of public representatives in Parliament, and the onus was also on religious leaders, trade unions, professionals, the business community, non-governmental organizations, various opinion leaders, individuals with social influence, and every citizen.
“We anticipate economic growth of at least 3% this year, a forecast supported by multiple domestic and international financial institutions. Inflation has significantly decreased to 1.5%. Additionally, the primary account balance, previously in deficit for several years, turned into a surplus of 0.6% of GDP in 2023.
For the first time in many decades, a surplus in the current account of the balance of payments was achieved in 2023. Furthermore, interest rates decreased substantially, reaching levels as low as 10-13%.
Through a series of reforms, we established financial discipline within the country. Another crucial reform for economic stability was restructuring our debt.
This was a significant consideration for finalising the IMF agreements in September 2022. By December 2022, the total debt as a percentage of GDP had reached 128%, a concerning level. Hence, we devised a debt restructuring program, which was structured into three primary phases.
Over the past couple of years, our government has diligently endeavoured to bring relief to our citizens through the outcomes of our economic recovery initiative. We arranged to directly grant substantial sums of money to economically disadvantaged groups in our country under the “Aswasuma” programme and other relief initiatives. Moreover, allowances granted to kidney patients, the elderly, and individuals with disabilities have been increased by 50%.
Under this programme, economically disadvantaged groups receive more than three times the existing Samurdhi subsidy. In 2024, a total of Rs. 205 billion will be spent for these relief programmes. Relief programs in Sri Lanka trace their origins back to the Second World War. Since then, there has not been such a significant allocation of funds to aid the impoverished.
Over the course of the 2022 Yala season, 2022/23 Maha season, 2023 Yala season and 2023/24 Maha season, our agricultural practices have yielded successful harvests.
The government has contemplated providing a portion of the crops to the impoverished free of charge.
It is imperative to exceed mere economic stabilization and recovery efforts and transition our economy onto a sustainable path. Implementing a formal and swift programme to achieve this transformation is essential.
News
No PC polls this year, says Tilvin
The much-delayed Provincial Council (PC) elections cannot be held this year due to financial and legal constraints, JVP General Secretary Tilvin Silva has said in Jaffna.Silva said so, fielding questions from journalists after the opening of the NPP coordination office in the Jaffna District on Saturday.
When asked whether the government was under Indian pressure to conduct the Provincial Council elections soon, Silva answered in the negative, claiming that Sri Lankan and Indian governments maintained close and friendly relations with a strong level of understanding.
He said budgetary allocations had been made for the PC elections, but the government had been compelled to divert resources for disaster relief following the impact of Cyclone Ditwah. According to Silva, nearly Rs. 500 billion had to be allocated for relief measures, making it difficult to hold the elections this year. He further said legal complications in the electoral reform process had also contributed to the delay in holding the PC elections, noting that a parliamentary committee had been appointed to determine the electoral systems under which the PC polls should be conducted. Once the committee submitted its report and if no further issues arose, the elections could possibly be held next year, he said.
Silva also said the government had taken measures to strengthen reconciliation and development in the North by releasing lands previously occupied by military camps and improving road infrastructure.He added that empowerment initiatives were being implemented under the Praja Shakthi programme and that both Sri Lanka and India were continuing to work in close cooperation.
News
Weather conditions worsen, displacing 31,000 people
More than 31,000 people across Sri Lanka have been affected by worsening weather conditions, as the southwest monsoon intensifies ahead of its full establishment, raising fears of renewed flooding in vulnerable low-lying areas, the Disaster Management Centre (DMC) has warned.
The DMC has said 31,072 individuals from 7,983 families have already been impacted by persistent rain, strong winds and rising water levels across multiple districts, with the situation most severe in the Gampaha District where 15,313 people from 3,950 families have been affected and one death reported.
Officials have cautioned that the scale of disruption could worsen as the southwest monsoon is expected to fully establish over the island around May 26–27, bringing heavier and more sustained rainfall to the southwestern region.
At present, 18 safety centres are in operation, sheltering 1,724 displaced persons from 446 families. One person has been injured and 859 houses have been partially damaged. Two houses have been destroyed.
The Department of Meteorology has forecast increased rainfall over the coming days, warning that conditions are likely to deteriorate further as monsoon activity strengthens.
Flood-hit areas remain widespread, with river systems still under pressure despite a brief easing in rainfall on Saturday. The Kelani River has returned to normal levels, but minor flooding persists along the Kalu River basin, particularly in the Millakanda area, where tributary water levels remain elevated.
Low-lying areas in Bellapitiya, Horana, continue to be inundated, while traffic on the Bulathsinhala–Kalutara road remains disrupted due to flooding in Diyakaduwa. Authorities have also flagged continued risk in Putupawula and Ellagawa along the Kalu River.
The Attanagalu Oya basin is also slowly receding, though residents in Dunamale have been urged to remain on alert. Several homes in Ja-Ela remain underwater, with residents alleging that delayed repairs to a damaged canal embankment worsened the flooding.
In a fresh blow to infrastructure, the Swarna Hansa Podi Ela bridge in Ja-Ela collapsed on Saturday evening, further disrupting local transport links, while the main Ja-Ela–Gampaha bus route remains submerged in parts of Yakkaduwa.
Meteorologists have warned that rainfall is expected to intensify again from May 26 to 28, when the southwest monsoon is likely to be formally declared over Sri Lanka, raising the risk of further flooding and landslides in already saturated areas.
by Norman Palihawadane and Chaminda Silva
News
Dickoya double murder suspect arrested
Police said a suspect wanted in connection with the murder of an elderly couple inside a shop in Dickoya town, Hatton, had been arrested on Saturday evening (23).
The arrest was made in the Bogawantalawa police area. Acting on a tip-off, the police arrested him while he was hiding in a house on a tea estate.
Police said stolen gold jewellery had been recovered.
Preliminary investigations revealed that the suspect, originally from Badulla, had been residing in Dickoya after his marriage.
Earlier on Saturday, Hatton Police released CCTV footage of the suspect and sought public assistance to trace and arrest him.
According to police, the suspect allegedly slit the throat of the elderly woman and killed her husband using a sharp weapon on Thursday (21) before fleeing with gold jewellery valued at around 18 sovereigns, including a necklace and earrings.
Investigations further revealed that the suspect had arrived in Dickoya town on the morning of May 21 and visited several jewellery shops claiming he intended to purchase a gold necklace, while loitering in the area.
Police said that around 1.15 pm, he entered the couple’s shop and remained concealed inside the premises before allegedly carrying out the attack.
Hatton Police added that the suspect is believed to have committed the murders and left the shop around 5.30 pm the same day before going into hiding.
by Norman Palihawadane
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