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SJB belatedly defends 2017 Foreign Exchange Act, rejects Justice Minister’s claim of funds ‘parked’ overseas

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Dr. Rajapakshe and Dr. de Silva

By Shamindra Ferdinando

Top SJB spokesman Dr. Harsha de Silva on Monday (20) dismissed Justice Minister Dr. Wijeyadasa Rajapakshe’s claim that well over USD 56.5 bn had been parked overseas by some exporters.

Dr. de Silva also contradicted claims made by rebel SLPP MPs Vasudeva Nanayakkara, Wimal Weerawansa and Gevindu Cumaratunga on the matter.

The Justice Minister and rebel SLPP MPs have declared that the enactment of Foreign Exchange Act No 12 of 2017 had led to the current situation.

Appearing on the live political programme Salakuna on Hiru, the Colombo District lawmaker said that such accusations were nothing but a joke. One-time Economic Reforms and Public Distribution State Minister de Silva declared that it was nothing but a made-up story.

The SJB lawmaker said so when Hiru anchor Chamuditha Samarawickrema asked whether the Yahapalana government contributed to the current crisis by doing away with the time-tested Exchange Control Act No 24 of 1953. Samarawickrema pressed for an answer pointing out that Harsha de Silva and SJB leader Sajith Premadasa were among 94 MPs who voted for the new law whereas 18 voted against.

A section of the UNP registered SJB as a political party, in early 2020, ahead of the general election held in Aug of the same year.

Governor of the Central Bank Dr. Nandalal Weerasinghe, too, has on several occasions raised concerns over the failure on the part of exporters to bring back proceeds.

Samarawickrema said that according to Minister Rajapakse the actual figure could be as much as USD 100 bn though official records were lower.

Dismissing the Justice Minister’s declarations, MP de Silva questioned the recent claim made by the former President of the Bar Association that export proceeds amounting to USD 8 bn hadn’t been repatriated last year. There was no basis for the Justice Minister’s claim on USD 8 bn as well as the previous declarations on over USD 50 bn being held overseas, MP de Silva said, adding that the total amount of exports were USD 12 bn last year.

Accusing some lawmakers of propagating lies, the former UNPer challenged them to reveal where even USD one bn was held.

Referring to leaked Panama Papers and Pandora Papers beginning April, 2016 and Oct 2021, respectively, MP de Silva said they disclosed the amounts parked overseas. “I won’t say funds hadn’t been parked. Thieves are everywhere. Some under invoice. Others over invoice. There are people who park money abroad. The funds mentioned in Panama Papers are part of the total amount of money stashed overseas.”

MP de Silva firmly denied that Sri Lanka engaged in large scale export business. There was absolutely no basis of claim regarding USD 56.5 bn, MP de Silva said.

Asked whether Justice Minister lied in this regard, MP de Silva insisted that this figure couldn’t be accepted under any circumstances.

Responding to Samarawickrema’s query whether the new law contributed to the bankruptcy, MP de Silva said that it was meant to pave the way for Sri Lankans to set up businesses abroad. The economist said that Sri Lankans should be allowed to invest overseas the way foreign companies did here. The former State Minister named several such investments made by Sri Lankans.

Dr. de Silva dismissed claims that the Capital Account hadn’t been opened. Utilization of funds had to be approved by the Central Bank on a case-by-case basis.

At the onset of the programme, Dr. de Silva said that the SJB accepted the general direction of President Ranil Wickremesinghe’s budget. One-time Wickremesinghe deputy on economic affairs?? during the yahapalana government, lawmaker de Silva said that SJB is comfortable with the budget in spite of concerns.



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“We will not make decisions for rural level schools while sitting in Colombo” – PM

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The Minister of Education, Higher Education and Vocational Education Prime Minister Dr. Harini Amarasuriya stated that aligning with the development activities carried out under the new education reforms, decisions at the rural level will not be taken from Colombo and plans should be sent based on the requirements of the rural level through the District Coordination Committees by structural committees. She further noted that all officials, from the Ministry of Education down to the school level, must commit to working efficiently and with a human-centered approach.

The Prime Minister made these remarks while addressing a discussion held with education authorities of the Hambantota District on Thursday [February 12]  at the auditorium of the Hambantota District Secretariat regarding the new education reforms and prevailing issues in the education sector.

During the meeting, the Prime Minister provided an opportunity for education authorities including chief prelates of pirivenas, zonal education directors, teacher advisors, and principals to present the challenges they face and officials raised concerns including salary disparities among principals, developing school infrastructure, issues arising from the division between national and provincial schools, and uplifting  pirivena education.

Further elaborating, Prime Minister stated:

“The new education reforms were initiated from 2025 through dialogue, consultations, and the collection of necessary data. As officials, you have extended your support to us during this process. We have embarked on a difficult and long journey, and we look forward to your continued cooperation.

We initiated these reforms in response to a strong social demand. Many have attempted such reforms at different times. Within our political vision, we understood clearly that if this country is to be rebuilt, an educational transformation is essential. The human resource is the most valuable resource of this country and it should be nurtured properly.

Solutions to many of the crises our country faces lie within the education system. Addressing the issues in economic challenges, social issues, drug abuse, violence, the breakdown of political culture, corruption, waste, and even the deterioration of human relationships all lie within the education.

In order to achieve the transformation we envision as a government, that an education transformation is necessary.

This education system should focus on reducing the pressures within the system, minimize school dropouts, increase employability, and instill confidence in children about their future.

There are disparities within the school system, between rural and urban schools, national and provincial schools, and difficult schools. This should not happen. All children must have equal opportunities.

Decisions regarding the establishment of schools or expansion of classes should not be political decisions. They must be decisions taken through Structural Committees. Those representatives understand their divisions, village economies, and population dynamics. Based on your decisions and assessments of needs, prepare the plans, discuss them with the District Coordination Committees, and submit them to us. We will then take steps to provide the necessary allocations and other support. We will not make decisions for the rural level while sitting in Colombo.

We are taking steps to minimize salary disparities. A Cabinet paper regarding the salary anomalies of principals has already been prepared for submission. Steps are also being taken to introduce new reforms in pirivena education through the Pirivena Committee of the Ministry of Education. We require the support of the chief prelates in this regard.

A significant number of teachers turn to human rights due to delays caused by inefficiency. Therefore, all officials from the Ministry of Education down to the schools must commit to working efficiently and in a humane manner”

The discussion was attended by Chief prelates of pirivenas, deputy ministers, Members of Parliament, zonal directors, principals, and other education sector officials.

[Prime Minister’s Media Division]

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Landslide Early Warnings issued to the Districts of Kandy and Nuwara Eliya

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The Landslide Early Warning Center of the National Building Research Organisation [NBRO] has issued landslide early warnings to the districts of Kandy and Nuwara Eliya valid  from 06:00 hrs on 13.02.2026 to 06:00 hrs on 14.02.2026

Accordingly,
Level II [AMBER] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Walapane and Nildandahinna in the Nuwara Eliya district.

Level I [YELLOW] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pathahewheta in the Kandy district.

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Former Minister Professor Tissa Vitharana has passed away at the age of 91

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Former Minister Professor Tissa Vitharana has passed away at the age of 91, according to family sources

 

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