News
SC ruling on economic crisis: Parliament also responsible, says Foreign Minister
By Shamindra Ferdinando
Foreign Minister Ali Sabry, PC, yesterday said that Parliament like other institutions should bear responsibility for the unprecedented economic crisis caused during President Gotabaya Rajapaksa’s administration.
Minister Sabry said so when The Island sought his response as regards the responsibility of Parliament for the developing situation against the backdrop of the country being bankrupted mainly due to overall mismanagement of the economy.
At the time of the eruption of public protests in early 2022, Minister Sabry served as the Foreign Minister of the Gotabaya Rajapaksa government.
Addressing the media at the President’s Media Centre (PMC), the SLPP National List MP dealt with the 2024 Budget presented by President Ranil Wickremesinghe, in his capacity as the Finance Minister.
Having compared the period leading to President Gotabaya Rajapaksa’s ouster with the significant improvements made under incumbent President Ranil Wickremesinghe’s resolute leadership, the top lawyer explained how successive governments ruined the economy by resorting to utterly irresponsible strategies.
The first time entrant to Parliament, following the last general election held in Aug. 2020, Minister Sabry emphasized how flawed tax strategies over the years caused the economic ruination. The Minister questioned the rationale in 80:20 ratio in indirect and direct taxes when the acceptable radio was 60:40 world over. The Minister went on to highlight the circumstances that led to the drop in revenue to just over 8 percent of the Gross Domestic Product (GDP) from 23% to 25% ahead of 2019/2020 crash.
Asked whether he had been present in the parliamentary chamber when a section of the ruling SLPP went berserk over a statement made by SJB and Opposition Leader Sajith Premadasa in respect of the landmark Supreme Court judgment on economic crisis and what was his response to such unruly behaviour, the Minister said that he was there.
The SC on Nov 14 in a 4 to 1 verdict declared that former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, ex-Governors of the Central Bank Prof. W.D. Lakshman and Ajith Nivad Cabraal, ex-Finance Secretary S.R. Attygalle, Presidential Secretary Dr. P.B.J. Jayasundera and the then Monetary Board were responsible for the economic collapse.
They were directed to pay Rs 150,000 each to those who filed fundamental rights applications.
The Minister emphasized that he never condoned such conduct and he never behaved that way or intended to do so in the future. “That was one side of the issue. We see various interested parties interpret the SC ruling the way they want. I read this judgment entirely. The ruling doesn’t say there had been fraud and money robbed. Funds had been sent overseas and measures should put in place to recover the money. It doesn’t say so. The SC found fault with the respondents for their failure to take timely action to avert the crisis. One specific issue artificial measures to control Rupees. I have pointed this out even last year. The other issue was the tax cut. They were policy decisions. The third issue was the timing of the IMF intervention. The fallout of those decisions should be political.”
The Minister said that there was no harm in prosecuting if there were fraud and robbery. But the Rajapaksas had already taken responsibility for those decisions, Minister Sabry said, pointing out that Gotabaya Rajapaksa, who won a five-year term, had to quit, and the Prime Minister, too, had to go. The entire government had to be handed over. They have to face the people, the Minister said.
“We genuinely believed the government should have sought the IMF intervention at that time, the depreciation of the Rupee should have been allowed to some extent. Perhaps those who decide on policy may have felt they were right,” Minister Sabry, said reminding that Sri Lanka sought IMF interventions on 16 previous occasions.
Minister Sabry insisted that no one would come into politics if those who had been found fault for lapses on their part in respect of policy decisions were dealt with in terms of criminal liability. Reiterating that the fallout should be solely political, the Foreign Minister said, adding that in case someone engaged in fraud, corruption and crime he should bear criminal responsibility.
News
Sri Lanka says it denied US request to land two aircraft at Mattala airport
Sri Lanka’s president says his government turned down a request from the United States to land two US combat aircraft at a civilian airport earlier this month.
President Anura Kumara Dissanayake told Sri Lanka’s parliament on Friday that Washington had requested permission for the aircraft to land at Mattala Rajapaksa International Airport in southern Sri Lanka from March 4 to 8.
The request was made on February 26, two days before the US and Israel launched their military offensive against Iran.
“They wanted to bring two warplanes armed with eight antiship missiles from a base in Djibouti”, Dissanayake told lawmakers. “We turned down the request to maintain Sri Lanka’s neutrality”, he added to applause.
The US-Israeli war on Iran has sparked widespread concern globally, as Iranian missile and drone attacks across the wider Middle East have sent energy prices soaring and fuelled fears of a widening conflict.
US President Donald Trump has also been pressuring Washington’s allies to show more support for the war, slamming NATO countries as “cowards” for refusing to help secure the Strait of Hormuz.
Iran has essentially shuttered the critical Gulf waterway amid the war, forcing leaders around the world to scramble to try to offset the effects on their economies and energy supplies.
Amid the turmoil, many countries have refused to get directly involved in the war while calling for urgent de-escalation.
On Friday, Switzerland announced that it would halt any weapons exports to the US that could be used in military operations against Iran, citing its longstanding policy of neutrality.
“The export of war materiel to countries involved in the international armed conflict with Iran cannot be authorised for the duration of the conflict”, the Swiss government said.
Sri Lanka’s president also cited his country’s neutrality in the decision to deny the US request to land the two aircraft at Matalla airport earlier this month.
Dissanayake said he had received another request that same day, on February 26, from Iran to seek permission for three naval vessels to make a goodwill visit to Sri Lanka.
“With two requests before us, the decision was clear,” he said, noting that the government denied both to avoid taking sides as signs of escalating conflict emerged.
“Had we said ‘yes’ to Iran, we would have had to say ‘yes’ to the US, as well”, Dissanayake added.
In early March, Sri Lanka’s navy rescued 32 Iranian crew off IRIS Dena after it was torpedoed by a US submarine off the country’s coast, killing at least 84 people.
Days later, Sri Lanka evacuated more than 200 crew members from a second Iranian vessel, IRIS Bushehr, after the ship requested assistance from Colombo.
[Aljazeera]
News
President maintains Lanka has been even-handed in dealing with Iran and US
Sri Lanka refused the request by three Iranian ships to come to Sri Lanka on a goodwill visit and the request by the United States to land two of its fighter jets in Mattala, President Anura Kumara Dissanayake told Parliament yesterday.
“Sri Lanka maintained neutrality by refusing the two requests by both the US and Iran,” he said.
President Dissanayake provided a clarification on domestic fuel prices in light of rising crude oil prices in the global market and subsequent fuel price increases in other countries, triggered by the ongoing crisis in the Middle East.
The President highlighted that the Ceylon Petroleum Corporation (CPC) currently supplies 57% of the country’s fuel requirements, while the remaining 43% is supplied by the private sector.
He further noted that private sector suppliers have requested pricing that reflects current global market rates for the fuel they import.
Accordingly, the President emphasised that a decisive decision on fuel price adjustments must be reached as expeditiously as possible to ensure the continuity of the national fuel supply.
Addressing the Parliament, the President stated that the current pricing formula dictates that for every one-dollar increase in global oil prices, domestic fuel prices must rise by Rs. 2.
He noted that the primary impact being faced is driven by the surge in global fuel prices rather than the depreciation of the rupee against the US dollar.
The President said that, globally, countries have been compelled to make difficult decisions regarding fuel costs, with price increases ranging from approximately 6% to 50%.
He added that while global prices have risen by as much as 49%, the domestic increase has been limited to 8%.
He further stated that Sri Lanka is currently facing a significant challenge in maintaining fuel supply.
The Ceylon Petroleum Corporation (CPC) accounts for 57% of the country’s fuel supply. He noted that had the CPC been the sole supplier, fluctuations could have been managed by offsetting current losses with future profits.
However, he said the private sector now controls 43% of the market, and their position is that if retail prices do not reflect the current landed cost of fuel, they will cease imports.
He added that, from a business perspective, this is a valid concern, as private companies reportedly incur a loss of approximately USD 55 million per shipment, which he said is unsustainable.
The President emphasised that the contribution of the private sector is essential to maintaining the national fuel supply, but noted that they will only participate if they are able to sell at cost-reflective prices.
He stressed that the issue of fuel pricing must, therefore, be addressed urgently.
He also pointed out that under the existing Act, companies are permitted to increase prices; however, the maximum retail price is determined by the Ceylon Petroleum Corporation.
“Although we have entered into agreements with these private companies, the necessary legislative amendments to the Act have not yet been finalised,” he noted.
Regarding government revenue, the President stated that tax income from fuel currently stands at Rs. 20 billion, compared to Rs. 240 billion generated last year from taxes on diesel.
Latest News
Heat Index likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, North-central, Southern and North-western provinces and in Monaragala, Mannar, Vavuniya and Mullaitivu districts
Warm Weather Advisory Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology at 3.30 p.m. on 20 March 2026, valid for 21 March 2026
The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, North-central, Southern and North-western provinces and in Monaragala, Mannar, Vavuniya and Mullaitivu districts.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491
-
Business5 days agoBrowns EV launches fast-charging BAW E7 Pro at Rs. 5.8 million
-
Life style6 days agoFrom culture to empowerment: Indonesia’s vision for Sri Lanka
-
News3 days agoCIABOC questions Ex-President GR on house for CJ’s maid
-
Life style6 days agoRanjith Fernando celebrates cricketing journey with Hob Nails to Spikes
-
News4 days agoSri Lankan marine scientist Asha de Vos honoured at UNGA opening
-
Features5 days agoAchievements of the Hunduwa!
-
Latest News6 days agoQR code system will be implemented for fuel with effect from 06.00 a.m. today (15th)
-
News4 days agoAustralian HC debunks misleading travel risk claims for Sri Lanka
