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SJB asks govt. to negotiate ‘successor programme’ with IMF urgently

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Sajith

Opposition Leader Sajith Premadasa yesterday called on the government to begin negotiations immediately for a successor programme with the International Monetary Fund (IMF), warning that Sri Lanka is not on track to meet reserve targets under the current arrangement.

“I am calling on the government to begin negotiations for a successor IMF programme. Not to renegotiate the existing arrangement. A successor programme, the arrangement that takes effect when this one ends,” Premadasa said in a statement.

Full text of Premadasa’s statement, titled ‘Negotiate Now, While We Still Have Something to Negotiate With’: The numbers are not complicated. Sri Lanka has $7 billion in gross official reserves. The IMF’s own target for when our current programme ends in March 2027 is $14.2 billion. To bridge that gap, we would need to accumulate $600 million in reserves every month for the next twelve months. We are not on track to meet that target.

And yet the government has said nothing about what comes after March 2027. I am calling on the government today to begin negotiations for a successor IMF programme. Not to renegotiate the existing arrangement, which is proceeding.

A successor programme, the arrangement that takes effect when this one ends. What I am proposing is not a retreat from fiscal discipline. It is the opposite.Sri Lanka is not in a position of strength indefinitely.

The rupee has weakened by approximately 14% against the dollar over the past twelve months. Petrol stands at Rs. 410 per litre today close to the Rs. 470 crisis peak of June 2022, reached in just four months from Rs. 294 in January. Our $8.1 billion in annual remittances, depends heavily on continued employment in Gulf states at a moment when the Middle East conflict is reshaping the regional economy. These are not distant risks.

We have had seventeen IMF programmes. Every one of them that involved a genuine crisis was negotiated after the reserves were gone and the rupee was in freefall. Every time, Sri Lanka accepted whatever terms were offered, because it had no other choice.

We have a choice right now. The window to negotiate from relative strength with $7 billion in reserves, a functioning programme, and demonstrated reform credibility. I am asking this government to plan for March 2027 and explain to the country Sri Lanka’s contingency plan when we fail to meet the IMF target.



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Proposed EPF-ETF merger harmful to private sector workers – FSP

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Nagamuwa

… alleges NPP trying to implement UPFA, UNP plan

Front-line Socialist Party (FSP) yesterday (24) alleged that the NPP government’s move to amalgamate the Employees’ Trust Fund (ETF) and the Employees’ Provident Fund (EPF), under a unified, tripartite governance framework, would be detrimental to the private sector workers.

Addressing the media at Melder Place, Nugegoda, FSP spokesman Duminda Nagamuwa said that the Cabinet of Ministers approved this proposal on 15 June.

Nagamuwa claimed that the NPP was trying to implement what President Mahinda Rajapaksa had sought to do, in 2011, causing the police to open fire on a group of the Export Processing Zone workers, protesting against the move to create a private pension scheme. A worker, identified as Roshen Chanaka, was shot by police on May 30, 2011, and he succumbed to his injuries.

Pointing out that the EPF and the ETF had been established for the benefit of private sector workers but with different objectives, Nagamuwa warned that amalgamation of the two funds could cause unnecessary complications.

The FSP spokesman said that Ravi Karunanayake, in his capacity as the Finance Minister of the Yahapalana government, in late November 2015 had declared their intention to amalgamate the ETF with the EPF.

FSP’s Pubudu Jayagoda told The Island that they expected all political parties, other than the NPP, to disclose their stand on the vital issue. Jayagoda urged the Opposition to take a stand on the vital issue .

By Shamindra Ferdinando

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Opposition argues that National Environment Amendment Bill is unconstitutional

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Premadasa

The Opposition yesterday argued in Parliament that the National Environment Amendment Bill was unconstitutional. The Opposition said that it violated the 13th Amendment.

SJB and Opposition Leader Sajith Premadasa argued that the approval of the Provincial Councils was required for the Bill to go ahead, as it was a subject in the Concurrent List of powers as per the 13th Amendment to the Constitution.

The MP also said that the clause which enables the Central Government to file legal actions against Local Government bodies was unconditional as well, since local bodies are included in the Provincial Councils list.

“How can you go ahead at a time when the Provincial Councils do not function properly,” Premadasa questioned.

ITAK MP P. Sathyalingam also raised the issue, but Speaker Jagath Wickramaratne, who responded, said the MPs could raise the relevant matters during the debate.

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ITAK makes representations to BJP TN President

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Sivagnanam Shritharan (left) meets BJP's Tamil Nadu state President, Nainar Nagenthran

The leader of the Ilankai Tamil Arasu Kachchi (ITAK) and parliamentarian Sivagnanam Shritharan recently met the Bharatiya Janata Party’s Tamil Nadu state president, Nainar Nagenthran in India during a three-day visit in which discussions centred on the political and livelihood challenges facing Tamils in the North-East of Sri Lanka.

According to a statement issued by MP Shritharan, the talks ranged across a number of contemporary issues confronting the Tamil people among them the demolition of ancestral Tamil Hindu temples and the construction of Buddhist viharas in their place, the skeletal remains being exhumed at the Chemmani mass grave, and efforts to secure justice for the alleged genocide committed against the Tamil people.

The statement said the two sides had also discussed a lasting settlement to the Tamil national question.

“There was an extensive exchange of views between both sides on a permanent political solution for the Eelam Tamils and the political aspirations of the Tamil people.”

The two had agreed to continue such meetings and consultations in future, the statement added, and Shritharan was hosted for lunch during the visit.

Also present was the veteran Tamil political figure K. S. Radhakrishnan, described in the statement as having more than fifty years of experience in Tamil political affairs, along with the BJP’s Tamil Nadu state secretary and several senior party representatives.

Nagenthran, a former Tamil Nadu state minister, has headed the BJP’s Tamil Nadu unit since April 2025 and is leading the party’s bid to unseat the governing DMK in the state.

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