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Sajith accuses govt. of hiding behind IMF and not having a strategy to overcome crisis

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By Saman Indrajith

The government did not have a social contract with the people, Opposition leader Sajith Premadasa told Parliament on Monday (21).

The government had to tell people what its strategy for overcoming the crisis was and secure the cooperation of all stakeholders, he said.

“We are facing a serious crisis. We are not the only country to face a crisis. Many governments have successfully faced similar crises and they have done this by coming into a social contract with the people. The Ranil Wickremesinghe government has no contract with the people. The only contract the President has is the one with the 134 MPs that voted him into power,” he said.

Premadasa said that MPs have been debating the 2023 budged for days. However, the rationale behind the budget is not revealed to the MPs, the opposition leader said.

“The government has come to a staff level agreement with the IMF and all its policies are based on that. However, the MPs have not seen it. The Parliament is supposed to determine state finances, but this is not true. Everyone knows this. The government is also using the IMF agreement to fleece the people. If anyone criticizes the economic policy of the government, its leaders say that this is what the IMF wants, and that Sri Lanka will be in deep trouble without IMF funding. I don’t know about the IMF, but rich henchmen of the government are benefitting,” he said.

Premadasa added that the budget 2023 has many inconsistencies. It talks about encouraging exports while burdening exporters with taxes.

“The ministers talk about an environmentally friendly budget and about digitization. This is good but where is the money allocated for this? This is not different to the 2022 budget presented by Basil Rajapaksa. The average Sri Lankan is taxed while people involved in corruption are given tax breaks. The sugar scam had cost the state 45 billion rupees. The state is not taxing cigarettes. Officials don’t want to tax tobacco because they are getting money from big tobacco,” he said.

Basil Rajapaksa reduced the taxes on tobacco, Premadasa said. Under a Samagi Jana Balavegaya (SJB) government those who had stolen state funds will be punished and these individuals will have to pay what they owe the state, he said.

“The government is trying to embezzle EPF money again by introducing an insurance scheme for the private sector. 20 percent of the money allocated for welfare will be used for administration work. We need to change this. How do we identify poor people and ensure that the money doesn’t go to cronies? I heard a professor saying that the best way to identify the poor is to look at people’s electricity consumption. This is a good method. We need to do a survey on poverty. We should have done this after COVID. If we had done research and taken steps, we wouldn’t be seeing this level of poverty,” he said.



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CEB engineers raise alarm over power sector stability

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A senior electrical engineers attached to the Ceylon Electricity Board (CEB) have warned that unresolved structural and policy issues within the power sector could threaten the long-term stability of the national grid, urging authorities to act swiftly to address mounting technical and administrative concerns.

Speaking on condition of anonymity, they said the electricity network was operating under increasing strain due to delayed infrastructure upgrades, financial constraints, and growing demand.

“The national grid is not something that can be managed casually. It requires systematic planning, preventive maintenance, and timely investment. If these are compromised, the risk to system stability increases,” the engineers said.

They noted that several transmission and substation modernisation projects were behind schedule, while ageing thermal plants continued to shoulder a significant portion of the country’s base load demand.

“Engineers are committed to ensuring an uninterrupted supply. But professional expertise must be respected in decision-making. Technical matters cannot be subjected to short-term political considerations,” the engineers added.

Meanwhile, the powerful Ceylon Electricity Board Engineers’ Union (CEBEU) echoed similar concerns, warning that failure to address long standing professional and structural issues could have serious consequences for the power sector.

In a statement, the CEBEU has said that engineers have repeatedly called for reforms that safeguard the integrity of the utility and ensure that operational decisions remain grounded in technical evaluation.

“The electricity sector is a critical national asset. Any attempt to weaken institutional safeguards or bypass professional consultation will directly impact service reliability and long-term sustainability,” the union said.

The CEBEU has stressed the importance of transparent engagement between policymakers and technical personnel, noting that morale among engineers could be affected if their concerns continue to go unheard.

Industry analysts point out that the power sector plays a central role in Sri Lanka’s economic recovery efforts, particularly as the country seeks to expand industrial activity and attract investment. Stability in electricity supply remains a key determinant of business confidence.

The senior engineer stressed d that the objective of raising concerns is not confrontation but preservation of the grid’s integrity.

“Our responsibility is to the public. Electricity powers hospitals, industries, and homes. Safeguarding the system is a national duty,” he said.

With tensions simmering within the sector, stakeholders say meaningful dialogue between authorities, engineers, and trade unions will be crucial in ensuring that Sri Lanka’s power infrastructure remains resilient in the face of growing challenges.

By Ifham Nizam

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CB identifies 24 pyramid scams in Sri Lanka

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The Central Bank (CBSL) yesterday announced that investigations had identified 24 companies and applications operating prohibited pyramid schemes.

In a public notice issued under Section 83C of the Banking Act, No. 30 of 1988 (as amended), the CBSL said the following entities had been “ascertained and determined as prohibited schemes”: Tiens Lanka Health Care (Pvt) Ltd, Best Life International (Pvt) Ltd, Mark–Wo International (Pvt) Ltd, V M L International (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd, Fast3Cycle International (Pvt) Ltd, Sport Chain App / Sport Chain ZS Society Sri Lanka, OnmaxDT, MTFE App / MTFE SL Group / MTFE Success Lanka / MTFE DSCC Group, Fastwin (Pvt) Ltd, Fruugo Online App / Fruugo Online (Pvt) Ltd, Ride to Three Freedom (Pvt) Ltd, Qnet / Questnet, Era Miracle (Pvt) Ltd and Genesis Business School, Ledger Block, Isimaga International (Pvt) Ltd, Beecoin App and Sunbird Foundation, Windex Trading, The Enrich Life (Pvt) Ltd, Smart Win Entrepreneur (Pvt) Ltd, Net Fore International (Pvt) Ltd / Netrrix, Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd, SGO / sgomine.com and I.C.A.N Advertising (Pvt) Ltd and its affiliates icanonlineadvertising.com, bannercuts.com, bannercuts.lk, bannercuts.net and bannercuts.org

The CBSL said pyramid schemes, also referred to as multi-level marketing or direct selling schemes in certain instances, operate as recruitment-based programmes in which members enlist others into an expanding “downline” structure resembling a chain letter.

Under such arrangements, a portion of the fees paid by new recruits is channelled upwards to earlier participants, known as the “upline”, who are fewer in number.

The Central Bank warned that such schemes are inherently unsustainable, with the vast majority of participants at the lower tiers eventually losing their investments, while only a small number of early entrants are able to recover or profit from the funds contributed by subsequent recruits. It noted that when a pyramid scheme collapses, up to 99 per cent of those in the lower levels risk losing their money.

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Church urges patience, warns against interference with Easter attacks probe

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Director of Communications for the Archdiocese of Colombo, Rev. Fr. Cyril Gamini Fernando, yesterday expressed confidence that ongoing investigations into the 2019 Easter Sunday terror attacks would yield meaningful results and urged the public and all stakeholders to exercise patience and allow the probe to proceed independently.

Addressing a media briefing in Colombo yesterday, Fr. Fernando called on all parties to refrain from interfering with the investigations, warning that any attempt to obstruct the process would amount to a grave injustice to the victims.

He said he believed there was credible evidence to warrant the arrest of military intelligence veteran Maj. Gen. (Retd.) Suresh Sallay.

Referring to the coordinated bombings on April 21, 2019, which targeted churches and hotels and claimed nearly 300 lives, Fr. Fernando described the attacks as a “barbaric” act and a “massacre” that killed worshippers attending Easter services as well as individuals from different religious and ethnic communities.

By Norman Palihawadane

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