Public Security Minister Ananda Wijepala announced in Parliament yesterday that the government expected to save Rs. 1,200 million annually in taxpayer funds by pruning down VIP security. The announcement was made following a review of security arrangements for former Presidents.

The Minister defended the government move in response to concerns raised by critics, stating that those opposing the decision were primarily motivated by personal interests, seeking to misuse public funds.

Minister Wijepala emphasised that the government remained committed to fiscal responsibility while maintaining necessary security measures.

As part of the cost-cutting initiative, the government will begin withdrawing Tri-forces personnel from the security details of former Presidents, starting next week. This move is expected to help reduce the burden on the public purse, without compromising the safety of the individuals concerned.

To further justify the changes, Minister Wijepala provided a detailed breakdown of security expenditure for former Presidents for the first 11 months of 2024, up to 15 December. The cumulative expenditure for this period amounted to Rs. 1,448 million.

The breakdown of security expenses is as follows: Mahinda Rajapaksa’s security costs totalled Rs. 710 million, with Rs. 328 million spent on Tri-forces, Rs. 327 million on police, and Rs. 55 million on the Presidential Secretariat. Maithripala Sirisena’s security expenses amounted to Rs. 207 million, with Rs. 6 million for Tri-forces, Rs. 185 million for the police, and Rs. 16 million for the Presidential Secretariat. Gotabaya Rajapaksa’s security costs were Rs. 307 million, with Rs. 258 million spent on Tri-forces, Rs. 39 million on police, and Rs. 10 million on the Presidential Secretariat. For Ranil Wickremesinghe, the total for three months was Rs. 82 million, broken down as Rs. 19 million for Tri-forces, Rs. 60 million for police, and Rs. 3 million for the Presidential Secretariat. Chandrika Bandaranaike Kumaratunga incurred no costs for Tri-forces but spent Rs. 99 million on police and Rs. 12 million on the Presidential Secretariat, bringing her total to Rs. 110 million. Hema Premadasa, the widow of the late President Ranasinghe Premadasa, spent Rs. 33 million, with no costs for Tri-forces, Rs. 30 million for the police, and Rs. 3 million for the Presidential Secretariat.

SJB chickens out at eleventh hour

NPP MP (Polonnaruwa) Dr. Jagath Wickramaratne was elected Speaker unopposed yesterday in Parlament following Asoka Ranwala’s resignation over his questionable academic qualifications,

The SJB opted out of the contest. SJB MP Nalin Bandara, on Sunday, declared his party’s intention to contest for the post of Speaker.

Sri Lanka will issue GDP-linked bonds worth 10.4 billion US dollars as part of its debt restructuring efforts, according to a statement on the Singapore Stock Exchange. This includes 1.6 billion dollars in governance bonds and 155 billion rupees in domestic bonds.

The new bonds are set to be issued on 20 December, having met the required minimum thresholds. Residual amounts will also be converted as part of the process.

The statement further noted that the 2022 bonds received 73 percent acceptance for the exchange. Residual 2022 bonds will continue to trade under the existing security.