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RW: Port City could become money-laundering hub unless …
Former Prime Minister and UNP leader Ranil Wickremesinghe said yesterday that amendments should be made to the Colombo Port City Economic Zone Special Commission Bill to prove that the centre the Bill seeks to create would not become a money-laundering hub.
Issuing a special statement via social media the former Premier said a law should be brought in this regard and passed on the advice of the Supreme Court. He said that every country had such laws.
The former Premier said the Parliament must be vested with powers to reach decisions regarding the Colombo Port City area.
Wickremesinghe has asked the following questions: “Why is the Central Bank not given the full control of the Port City? Why has the Port City been removed from the parliamentary control? Why is Parliament not empowered to pass these laws?”
“If proper procedures are not followed, it will have to be considered as a black money centre,” he has said, warning that Sri Lanka could be blacklisted once again by the Financial Action Task Force as a money laundering centre if the Port City Economic Commission Bill is enacted in its present form.
The former Prime Minister has said the Colombo Port City Economic Commission Bill will introduce gambling centres to bring money into the country’s financial institutions, and no other country has given the Central Bank such powers.
According to the Bill, casinos have been included among Off Shore Service Centres and Financial Centres, Wickremesinghe has said. “However, the government has not mentioned anything about new laws that allow offshore financial services such as banking and insurance.”
The absence of such laws and removing Port City from the purview of the Finance Ministry and making it independent from Parliament will make one conclude that the sole objective of the Port City is to convert it to a gaming centre where black money is turned white, the former PM has said.
“This is open to the interpretation that this is for money laundering. You can’t prevent that type of interpretation being made,” he said.
Wckremesinghe has further stated that if such a thing happens, it will be a fatal blow to the Sri Lankan economy and if it is done properly, it is possible to recover from this situation.
He has called on the government to put the bill up for discussions in the parliament as well as outside it to come up with a one in which the constitutional structure is also preserved.
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All set for Colombo rally against govt.’s tax policies
The Frontline Socialist Party-backed People’s Struggle Movement is set to stage a protest march in Colombo today (03) against what it describes as the growing tax burden on the public and the rising cost of living.
The organisers are due to commence the “Colombo March Against Unjust Taxes” at noon from Campbell Park, Borella. The FSP has also been mobilising support for the protest in Colombo and its suburbs in the run-up to the event.
People’s Struggle Movement National Executive Council member Wasantha Mudalige, speaking at a media briefing in Nugegoda yesterday (02), called on the public to join the protest, saying the movement intended to bring the tax burden faced by ordinary people to the forefront.
Mudalige alleged that successive tax measures had placed an excessive burden on households, particularly through taxes on food and educational items. He also criticised the Government over what he described as the high cost of basic food items and the difficulties faced by parents in meeting their children’s educational expenses.
He accused the Opposition of failing to adequately address the issue, claiming that opposition parties raised such concerns, mainly during election periods.
Mudalige also criticised the Government for what he described as a departure from promises made before the 2024 presidential election regarding taxes on educational equipment.
He questioned the tax burden on food items, citing figures of Rs. 100 per kilogramme on dried sprats, Rs. 310 per kilogramme on chicken and Rs. 11 per egg.
He further alleged that while ordinary people were bearing a heavy tax burden, wealthy groups were receiving tax concessions. He also criticised the Government’s economic programme and its implementation of measures associated with the International Monetary Fund (IMF).
The movement has framed today’s protest as part of a broader campaign over the cost of living and taxation. The People’s Struggle Alliance has separately announced that the Campbell Park demonstration will be the first in a series of public actions, with further protests planned in November.
Mudalige said the movement would continue to take the issue to the streets and urged the public to participate in today’s demonstration.
People’s Struggle Movement National Executive Council member Jayantha Amarasinghe also addressed the press.
News
Yoshitha R money laundering trial postponed
The Colombo High Court yesterday postponed the trial in the case filed under the Prevention of Money Laundering Act against Yoshitha Rajapaksa, son of former President Mahinda Rajapaksa.
The case was taken up before Colombo High Court Judge Udesh Ranatunga, with Yoshitha Rajapaksa, who is currently out on bail, appearing in court.
The trial was postponed as the President’s Counsel appearing for the defence was indisposed.
The Attorney General has filed the case against Rajapaksa, alleging that he committed an offence under the Prevention of Money Laundering Act by purchasing five plots of land in Dehiwala and Ratmalana, worth more than Rs. 73 million.
News
Lankan troops test mettle in Russian war games
A contingent of the Sri Lanka Army, comprising 20 officers and 55 other ranks, participated in the combined military exercise ‘Wolverine Path II–2026’, conducted with the Armed Forces of the Russian Federation in Vladivostok, Russia, from September 18 to 25.
According to the Ministry of Defence, the exercise primarily focused on counter-terrorism operations and provided participating troops with training in a challenging combined operational environment.
The exercise included a range of tactical activities, including heli-rappelling, close-quarters battle (CQB), ambush operations, sniper firing, drone operations, buggy training and combat medical support.
The Ministry said the training enabled Sri Lankan troops to further develop their combat skills, tactical coordination and operational readiness.
It also provided an opportunity for the two militaries to exchange professional knowledge, operational experience and tactical expertise. Sri Lankan personnel gained exposure to training methodologies, tactical approaches and operational practices adopted by the Russian Armed Forces, the Ministry said.
The participation also enabled the Sri Lankan contingent to identify lessons from the joint training and share its own experiences with the Russian military.
The Sri Lankan contingent returned to the country following the exercise and arrived at Mattala Rajapaksa International Airport on September 28.
The Ministry said participation in the exercise contributed to enhancing the professional knowledge, tactical awareness and operational preparedness of Army personnel while promoting military-to-military cooperation, mutual understanding and professional relations between Sri Lanka and Russia.
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