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Tennakoon says economy cannot be saved by printing money alone

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‘Rs 6.65 bn printed on Dec 31; Rs 678 bn in 2021’

By Shamindra Ferdinando

Former Governor of Uva, Southern and Central Provinces Rajith Keerthi Tennakoon says that the ailing national economy cannot be saved by printing money.

Civil society activist Tennakoon quoting official figures claimed that Rs. 6.65 bn had been printed on Dec 31, 2021, just 48 hours after the Central Bank claimed official reserves reached USD 3.1 bn.

One-time executive director of polls monitoring outfit Caffe, Tennakoon said that the current dispensation had quite conveniently ignored the real challenges experienced by the national economy. “Some apparently believe that printing money is a panacea for the economic crisis. Unfortunately, the SLPP leadership is obviously on the wrong path,” Tennakoon said.

Tennakoon said that according to available official records the government during 2021 had printed a staggering Rs 678.33 bn and the trend was certain to continue in the new year.

In spite of the national economy being in such a bad shape, government leaders issued public statements as if everything was in order, Tennakoon said. The government was aware of further worsening of the situation as a result of disruption of supplies and possible food shortage ahead of the Sinhala and Tamil New year, Tennakoon said.

Responding to another query, Tennakoon said that police headquarters recently issued a statement regarding long queues outside the retail shops of the Pelwatte Dairy Industries Ltd located near Jubilee Kanuwa in Mirihana.

The statement followed recent social media posts of police harassment and undue interference, Tennakoon said, drawing the attention of the police that queues were common sight all over the country, not only at Mirihana.

Tennakoon said that in spite of repeated assurances that LPG gas supply would be normalized, there were queues in the City and its suburbs. The activist urged the Opposition to vigorously take up the issues at hand or face the consequences. Current challenges couldn’t be overcome by proroguing Parliament or postponing election, Tennakoon said. He was referring to the moves to put off Local Government polls scheduled to be held before March 20, 2022 by one year.



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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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GL: Proposed anti-terror laws will sound death knell for democracy

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Prof. Peiris

‘Media freedom will be in jeopardy’

Former Minister of Justice, Constitutional Affairs, National Integration and Foreign Affairs Prof. G. L. Peiris has warned that the proposed Protection of the State from Terrorism Act (PSTA) will deal a severe blow to civil liberties and democratic rights, particularly media freedom and the overall freedom of expression.

Addressing a press conference organised by the joint opposition alliance “Maha Jana Handa” (Voice of the People) in Colombo, Prof. Peiris said the proposed legislation at issue had been designed “not to protect people from terrorism but to protect the State.”

Prof. Peiris said that the proposed law would sound the death knell for the rights long enjoyed by citizens, with journalists and media institutions likely to be among those worst affected.

Prof. Peiris took exception to what he described as the generous use of the concept of “recklessness” in the draft, particularly in relation to the publication of statements and dissemination of material. He argued that recklessness was recognised in criminal jurisprudence as a state of mind distinct from intention and its scope was traditionally limited.

“In this draft, it becomes yet another lever for the expansion of liability well beyond the properly designated category of terrorist offences,” Prof. Peiris said, warning that the elasticity of the term could expose individuals to prosecution on tenuous grounds.

Prof. Peiris was particularly critical of a provision enabling a suspect already in judicial custody to be transferred to police custody on the basis of a detention order issued by the Defence Secretary.

According to the proposed laws such a transfer could be justified on the claim that the suspect had committed an offence prior to arrest of which police were previously unaware, he said.

“The desirable direction of movement is from police to judicial custody. Here, the movement is in the opposite direction,” Prof. Peiris said, cautioning that although the authority of a High Court Judge was envisaged, the pressures of an asserted security situation could render judicial oversight ineffective in practice.

Describing the draft as “a travesty rather than a palliative,” Prof. Peiris said the government had reneged on assurances that reform would address longstanding concerns about existing counter-terrorism legislation. Instead of removing objectionable features, he argued, the new bill introduced additional provisions not found in the current Prevention of Terrorism Act (PTA).

Among them is a clause empowering the Defence Secretary to designate “prohibited places”. That was a power not contained in the PTA but previously exercised, if at all, under separate legislation such as the Official Secrets Act of 1955. Entry into such designated places, as well as photographing, video recording, sketching or drawing them, would constitute an offence punishable by up to three years’ imprisonment or a fine of up to Rs. 3 million. Prof. Peiris said. Such provision would have a “particularly chilling effect” on journalists and media personnel, he noted.

The former minister and law professor also criticised the breadth of offences defined under the draft, noting that it sought to create 13 categories of acts carrying the label of terrorism. This, he said, blurred the critical distinction between ordinary criminal offences and acts of terrorism, which require “clear and unambiguous definition with no scope for elasticity of interpretation.”

He cited as examples offences such as serious damage to public property, robbery, extortion, theft, and interference with electronic or computerised systems—acts which, he argued, were already adequately covered under existing penal laws and did not necessarily amount to terrorism.

Ancillary offences, too, had been framed in sweeping terms, Prof. Peiris said. The draft legislation, dealing with acts ‘associated with terrorism,’ imposed liability on persons “concerned in” the commission of a terrorist offence. “This is a vague phrase and catch-all in nature.” he noted.

Similarly, under the subheading ‘Encouragement of Terrorism,’ with its reference to “indirect encouragement,” could potentially encompass a broad spectrum of protest activity, Prof. Peiris maintained, warning that the provision on “Dissemination of Terrorist Publications” could render liable any person who provides a service enabling others to access such material. “The whole range of mainstream and social media is indisputably in jeopardy,” Prof. Peiris said.

Former Minister Anura Priyadarshana Yapa and SLFP Chairman Nimal Siripala de Silva also addressed the media at the briefing.

by Saman Indrajith ✍️

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