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Prez accused of seeking to gain total control of public finance
‘Public Debt Management Bill threat to democratic governance’
By Shamindra Ferdinando
Opposition MP Charitha Herath yesterday (30) alleged that the controversial Public Debt Management Bill that had been tabled in Parliament last week was aimed at bringing public sector finance entirely under the Finance Minister.
Claiming that UNP leader and President Ranil Wickremesinghe, in his capacity as the Finance Minister, seemed to be bent on achieving total control over public finance, dissident SLPP MP warned of dire consequences if the ruling party backed what he called an authoritarian move.
Herath dealt with the Public Debt Management Bill at a briefing held at the Nawala office of the Nidahasa Janatha Sabhawa.
Several members of the SLPP dissident group, including Prof. G.L. Peiris and Dr. Nalaka Godahewa, have aligned themselves with the main Opposition Samagi Jana Balawegaya (SJB).
The National List MP said that the proposed Bill would deprive other members of the Cabinet, including the Prime Minister, of powers so far exercised by them pertaining to their ministries and instead subjecting them to the Finance Minister’s control.
Once this Bill received the approval of Parliament, as far as public finance matters are concerned, all other ministries would be irrelevant, MP Herath said.
The issue at hand is that the President happened to be the Finance Minister, MP Herath said. Responding to a query regarding the responsibility of Parliament for public finance raised by The Island, MP Herath said: “In terms of Article 148, all public finances will be under the total control of Parliament. Therefore, the Finance portfolio, being under a person not represented in Parliament, is a matter for serious concern. If public finance is constitutionally under Parliament, the executive shouldn’t, under any circumstances, hold that particular portfolio.”
The Public Debt Management Bill had been formulated in such a way that once Parliament approved it, the Finance portfolio could be held only by a President, the Opposition MP said, asserting that the democratic way of governance was facing an extreme threat.
Asked to explain, MP Herath said that the latest move seemed to be in line with Wickremesinghe’s overall political strategy in the run-up to the presidential election.
MP Herath issued copies of the Bill to the media urging them to vigorously pursue the issue. The SLPPer found fault with political parties and the media for not paying sufficient attention to the developing dictatorial situation.
Referring to the passage of the Central Bank of Sri Lanka Bill on July 20, 2023, MP Herath said that though the UNP had just one National List MP in Parliament Wickremesinghe obviously achieved the unthinkable by craftily exploiting the current situation. The Second Reading of the Bill was passed by a majority of 42 votes, with 66 voting in favour and 24 voting against it.
The Public Debt Management Bill would cause further deterioration of democratic governance, MP Herath alleged, claiming that the President was seeking an apparatus hitherto unavailable to any President to control public finance.
MP Herath claimed that the Wickremesinghe-Rajapaksa government had formulated the Public Debt Management Bill on the basis of the IMF’s recommendations/conditions in the wake of the unprecedented economic crisis that erupted in late 2021. Acknowledging that the country hadn’t been out of the woods yet though the government finalized agreement with the IMF in March 2023 regarding the USD 2.9 bn bailout package, MP Herath said the solution couldn’t be found in an apparatus run by the executive.
Had that happened, there wouldn’t be any meaning to Parliament being constitutionally responsible for public finance, MP Herath said.
The first-time entrant to Parliament said that the UNP leader had no regard for democratic way of governance. The move to break-up the Ceylon Electricity Board (CEB) and privatize various cash cows meant that the UNP leader pursued his same old agenda that had been over and over again rejected by the electorate.
MP Herath urged his colleagues to be mindful of their responsibilities as the President was all out to privatize the remaining public assets.
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Landslide RED warnings continue to be in force for the Districts of Kandy, Kegalle, Kurunegala, Matale and Nuwara Eliya
The RED Landslide Early Warnings issued by the Landslide Early Warning Center of the National Building Research Organization [NBRO] to the Districts of Kandy, Kegalle, Kurunegala, Matale and Nuwara Eliya have been extended until 1600hrs today [06th December 2025]. Landslide Early warnings have also been issued to the districts of Badulla, Colombo, Galle, Gampaha, Kalutara, Matara, Monaragala and Ratnapura,
Accordingly,
LEVEL III RED warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Gangawata Korale, Deltota, Doluwa, Thumpane, Medadumbara, Minipe, Pathahewaheta, Yatinuwara, Ganga Ihala Korale, Akurana, Udunuwara, Panvila, Pathadumbara, Kundasale, Pasbage Korale, Hatharaliyadda, Ududumbara, Poojapitiya, Harispattuwa and Udapalatha in the Kandy district, Galigamuwa, Kegalle, Mawanella, Rambukkana, Dehiowita, Warakapola, Deraniyagala, Bulathkohupitiya, Ruwanwella, Yatiyanthota and Aranayaka in the Kegalle district, Narammala, Mawathagama, Mallawapitiya, Alawwa, Rideegama and Polgahawela in the Kurunegala district, Rattota, Wilgamuwa, Ukuwela, Pallepola, Matale, Laggala Pallegama, Yatawatta, Naula and Ambanganga Korale in the Matale district, and Nildandahinna, Walapane, Hanguranketha and Mathurata in the Nuwara Eliya district.
LEVEL II AMBER warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Uva Paranagama, Kandeketiya, Bandarawela, Soranathota, Hali_Ela, Meegahakivula, Badulla, Ella, Haputhale, Lunugala, Welimada, Passara and Haldummulla in the Badulla district, Nuwara Eliya, Ambagamuwa Korale, Thalawakele, Norwood, Kothmale West and Kothmale East in the Nuwara Eliya district, and Kahawaththa, Godakawela and Kolonna in the Ratnapura district.
LEVEL I YELLOW warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka and Seethawaka in the Colombo district, Elpitiya and Yakkalamulla in the Galle district, Mirigama, Attanagalla and Divulapitiya in the Gampaha district, Bulathsinhala, Ingiriya and Horana in the Kalutara district, Athuraliya and Pasgoda in the Matara district, Bibile and Medagama in the Monaragala district, and Kiriella, Nivithigala, Eheliyagoda, Kuruwita, Kalawana, Pelmadulla, Elapatha, Balangoda, Openayake, Imbulpe, Ayagama, Ratnapura and Kaltota in the Ratnapura district.
The International Monetary Fund (IMF), on Thursday, signalled strong solidarity with Sri Lanka in the wake of Cyclone Ditwah, confirming that it is actively exploring options to provide further support for recovery and resilience beyond the existing Extended Fund Facility (EFF).
Julie Kozack, Director of the IMF’s Communications Department, opened her remarks with heartfelt condolences:
“Our deepest sympathies go out to the people of Sri Lanka for the effects of the devastating cyclone. Our hearts mourn the loss of life that has taken place,” she said, extending condolences to other Asian nations also grappling with severe flooding, including Indonesia, Malaysia, Thailand, and Vietnam.
On Sri Lanka, Kozack emphasised that the IMF is closely engaging with authorities, development partners, and counterparts to assess the humanitarian, social, and economic toll of the disaster.
“Large parts of Sri Lanka have been affected by floods, and we expect economic activity to be adversely impacted, in addition to the significant human toll,” she noted.
The IMF is awaiting the completion of a rapid post-disaster damage assessment, led by Sri Lankan authorities, in collaboration with international partners, to better gauge the economic impact.
“We are continuing to support Sri Lanka’s recovery, reform, and resilience under the EFF arrangement. Our staff is looking into options to further support Sri Lanka in the recovery process,” Kozack confirmed.
She reiterated that the Board meeting, scheduled for 15 December, remains on track, following the staff-level agreement on the fifth review reached in October—prior to the cyclone.
“We will provide additional details as the assessment of economic needs and damages moves forward, and as we have more information to inform our thinking around the options,” she added.
Naina Thambi Marikkar Mohamed Thahir was sworn in as a Samagi Jana Balawegaya (SJB) National List Member of Parliament before Speaker Dr. Jagath Wickramaratne yesterday (05).
His appointment follows the resignation of SJB Parliamentarian Muhammathu Ismail Muththu Mohamed, who stepped down from his position on 28 November.
The SJB subsequently nominated Thahir to fill the resulting vacancy.
Accordingly, the Election Commission issued a Gazette Extraordinary declaring Naina Thambi Marikkar Mohamed Thahir a Member of Parliament, in terms of Section 64(5) of the Parliamentary Elections Act, No. 1 of 1981, as amended by Section 6 of the Elections (Special Provisions) Act, No. 35 of 1988.
With the issuance of the gazette, and the subsequent swearing-in, Thahir has officially assumed duties as a National List MP, representing the SJB.
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