Features
When will the Gang of Four be held accountable for their irresponsible decisions?
by Sanjeewa Jayaweera
Most living in Sri Lanka feel like they have got into the boxing ring with Muhammad Ali. The ferocious punches thrown regularly are taking their toll, with most either on their knees or on the canvas. The final punch that will knock us out seems inevitable, but the question is when?
The pounding started initially with queues to buy milk powder for children, which then got extended to buying cooking gas, then to long power cuts, and now to queues extending several kilometres to buy petrol, diesel, and kerosene. Along the journey of suffering, we have also been penalized with hyperinflation. The saying “it never rains but it pours” seems so accurate.
The country is facing a humanitarian catastrophe of a magnitude not previously experienced. Most foreign commentators say, “Sri Lanka is facing the worst economic crisis since 1948.” In a release, the World Food Programme (WFP), the world’s largest humanitarian organization, stated, “An estimated 4.9 million people – 22 per cent of the population – are currently food-insecure and require humanitarian assistance. Reduced domestic agricultural production, scarcity of foreign exchange reserves and depreciation of the local currency have caused food shortages and a spike in the cost of living, which is limiting people’s access to healthy and affordable meals. The economic crisis will push families into hunger and poverty – some for the first time – adding to the half a million people who the World Bank estimates have fallen below the poverty line because of the pandemic.”
The latest WFP assessment reveals that 86 per cent of families are buying cheaper, less nutritious food, eating less and, in some cases, skipping meals altogether. Before the economic crisis and the pandemic, malnutrition rates across Sri Lanka were already high. Before the COVID-19 pandemic, Sri Lankan women and children suffered from far higher rates of malnutrition than most other middle-income countries: 17 per cent of children aged under five were too short because of stunting, and 15 per cent were too thin for their height (wasted). The current economic crisis will likely aggravate this further.”
The peaceful uprising, predominantly by the youth referred to as the “Aragalaya”, and the violence that erupted on May 9 resulted in the resignation of the Prime Minister and the cabinet. Thankfully, quite a few unsavoury characters are no longer in the cabinet and have remained mainly underground, although a few are making occasional media appearances to test the waters. A few less savoury but still abject failures of the Mahinda Rajapaksa regime have managed to get back into the cabinet. It is a paradox that a person who led his party to political oblivion and lost his seat is now the Prime Minister. So much for the will of the people!
However, my article is about the architects of our economic Armageddon. In a previous article, I identified them as Nivard Cabraal , P B Jayasundera , S.R. Attygalle and W D Lakshman and referred to them as the Gang of Four (G4). I have consistently advocated for the G4 to be charged and prosecuted for their actions that I would call criminal.
I am glad that recently a Fundamental Rights (FR) petition has been filed in the Supreme Court (SC) seeking appropriate action against those responsible for the prevailing economic crisis in the country, including the G4. One must hope that the SC will commence hearing the case on a priority basis and arrive at a verdict as soon as possible because most people I talk to say, “These fellows should be taken to Galle Face and be mercilessly whipped!” Although I don’t subscribe such drastic action, I understand their anger.
A few weeks back, the Committee on Public Finance (COPF) called the G4 for a hearing to ascertain the reasons for the economic collapse. Unfortunately, I have not been able to view the entire proceedings of the hearing as only a 15-minute video is available on YouTube. In that clip, Nandalal Weerasinghe, the incumbent Governor of the Central Bank of Sri Lanka, in an apparent snide remark aimed at Attygalle, said, “Responsible Government officials should refrain from engaging in politics and that the difference between a politician and an official should be properly recognized.”
It must be recalled that Attygalle was appointed as the Treasury Secretary in haste by the Mahinda Rajapaksa(MR) administration during the short-lived constitutional crisis in 2018. Some will also remember how MR immediately appointed Kapila Chandrasena as the CEO of SriLankan Airlines but had to quickly rescind the appointment due to public backlash. It was only subsequently revealed that Chandrasena’s wife had been paid US $ 2 million by Airbus as a bribe.
The belief is that many of the appointments made by MR appear to have been based on friendship and loyalty as opposed to competence. Therefore, it might be difficult for Attygalle to convince too many that he is not politically aligned with the Rajapaksas.
When questioned about the tax cuts that resulted in a significant loss of revenue to the government, Attygalle said that due to the commencement of the covid pandemic, it was not possible to pass judgment on whether the experiment of reducing taxes was correct. However, it does not need an Einstein to predict that a country grappling with a chronic budget deficit and a balance of payments crisis would get into severe economic difficulties due to such irresponsible decisions.
I highlighted my concern over several of the tax proposals in an article written by me called “Sri Lanka’s Tax Conundrum” published in the Sunday Island of January 12, 2020. Although I am no economist, my two and half decades of working in Sri Lanka, mainly as a Chief Financial Officer in several hotels, manufacturing and retail businesses, have given me sufficient knowledge and exposure to raise concerns.
The tax cuts entailed the reduction of Value Added Tax (VAT) to 8% from 15%, reduction of corporate tax for manufacturing companies to 18% from 28%, abolishing the 2.5% Nation Building Tax, the increase in the taxable supply threshold for VAT from Rs. 12 million to Rs. 300 million, the increase in single-person tax-free allowance to Rs. 3 million from Rs. 1.2 million together with significant widening of tax slabs and reduction of rates resulting in the highest rate coming down to 18% from 24%.
All these changes were done with no projection of how much tax revenue will be lost. Neither was there any comment about how the government intended to bridge the revenue deficit. It was all so reckless and irresponsible.
The international credit rating agency, Fitch Ratings, reacted immediately and, in a release, stated that tax concessions granted are “credit negative” and revised the outlook on Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable.
These agencies are independent and skilled in their assessments. However, our Treasury Secretary (Attygalle) and the Central Bank Governor (Lakshman) released statements sharply rebuking the Fitch statement. In fact, in a TV chat show, he accused the international credit agencies of being politically biased and being part of an international conspiracy against GOSL! Furthermore, every subsequent downgrade of our credit ratings drew a sharp rebuke from Attygalle, Lakshman and Cabraal, questioning the motives of such downgrades.
For those of us who had engaged credit rating agencies on behalf of the companies we worked for, such criticisms were not valid and were downright stupid. Given the critical role that international rating agencies play, commonsense dictated that even if there is disagreement, there was a need for a far more diplomatic engagement and consensus building than releasing strongly worded rebukes and questioning their motives. The arrogance and the stupidity of the G4 are stunning.
In addition, in their infinite wisdom, the GOSL also decided that the PAYE tax at source previously collected from employers and Withholding Tax (WHT) from interest income paid by banks and financial institutions to individuals should be abolished. To say that this was a stupid and irresponsible decision is being polite.
In my article of January 12, 2020, I published a table from the Department of Inland Revenue Performance Report for 2018 setting out statistics of low compliance by businesses and individuals when filing their tax returns from 2013-14. I stated, “In such a scenario, expecting individuals to be compliant with their tax returns and payment of quarterly tax is being optimistic.”
I believe the architect of the above changes was none other than PBJ. When he was the Treasury Secretary during the period 2010 – 15, at many private sector forums, he said, “I have told the IRD to stop worrying about collecting PAYE taxes as the collection is so small.” However, he also stated, “If government servants are exempt from income tax, why should the private sector employees pay tax?” The end result was that many of us had our income tax files closed by the IRD, which was way back in 2011!
The decision to print money under both Lakshman and Cabraal led a former deputy governor of the CBSL to state that “Lakshman has turned the CBSL to a printing press.” It is believed that the G4 and others in charge of economic policy were disciples of the highly controversial Modern Monetary Theory (MMT). Many independent economists raised concerns and predicted that such action would lead to hyperinflation. Abraal arrogantly refuted these concerns.
The Island of April 27, 2021 quotes Cabraal as follows “State Minister of Money and Capital Markets Ajith Nivard Cabraal said yesterday that there was no relationship between money printing by the Central Bank of Sri Lanka and the depreciation of the local rupee in the foreign currency market. Minister Cabraal commented while responding to questions during an interview on Swarnawahini television. When asked whether the value of the Sri Lanka rupee showed a negative correlation to a surge in money printing by the Central Bank as the Opposition claimed, the state minister replied, “Generally, people say it may be because they don’t know. The issue is when those that claim to be in the know of these matters also say the same thing.”
The G4 also pursued a policy of keeping interest rates well below the inflation rate. This was purported to encourage borrowing. This ludicrous policy resulted in depositors being able to negotiate higher rates for their US Dollar deposits than for their LKR deposits! One of the first actions of the new Governor was to increase the treasury bill interest rates significantly. It is a tried and tested formula to raise interest rates to curtail demand and reduce inflation. Currently, the world over, nearly all central banks have resorted to this policy. It seems that G4 are the only exception.
The decision to peg the Lankan Rupee to the US Dollar at 200 for a considerable period against the advice of many independent economists and bankers has had a debilitating impact on our economy. Undoubtedly, this has resulted in a burgeoning black/ grey market where the rate differential was significant. In addition, this has led to a substantial decrease in the receipt of remittances by Sri Lankans working overseas and also by exporters who may be keeping the funds overseas in anticipation of a devaluation. We all are fully aware of the pain now endured by a lack of dollars in the country.
Having held on to the US Dollar to LKR 200 for too long, the Monetary Board under the chairmanship of Cabraal recklessly let go of the peg resulting in a steep depreciation of the LKR by nearly 80% over just two months. This was despite the IMF’s explicit warning that any peg relaxing needs to be done carefully and systematically. A couple of members of the former monetary board have stated that Cabraal unilaterally decided to abandon the peg. This is being disputed by him, claiming that it was a collective decision. Whether it was collective or unilateral, Cabraal needs to bear complete responsibility for this reckless decision that has upended the lives of millions of our people. Lastly, I must say that my personal opinion is that the members of the Monetary Board who objected to the policy decisions of Cabraal should have resigned and made their reasons public at the time. To claim that to have resigned would have been cowardly is unacceptable.
Cabraal has recently released several public statements in which he has attempted to exonerate himself. He has stated that even now, the exchange rate is being pegged, and money is still being printed. Yes, no doubt. However, the damage done in the last two years is so immense that it is impossible to stop the rot immediately. As the saying goes, it is like riding a tiger and not being able to get off. That is the country’s predicament.
I believe the COPF meeting ended with another scheduled follow-up meeting. There has been no news of any further deliberations involving the G4. I doubt whether anything of value emanates from these deliberations. In the last couple of months, the Committee of Public Enterprises (COPE) reviews, Chaired by Professor Charita Herath, have made headlines over how poorly the state-owned enterprises are being administered and managed. However, for me, they are just theatrics as most such disclosures have been included in the Auditor General’s reports of such enterprises and have been in the public domain for quite some time. It is just that no one bothered to read such reports.
Undoubtedly, the G4 need to be charged and prosecuted for bringing this country and its people to its knees. Our lifestyle has been taken back several decades. As stated in the WFP report, millions of our people will starve and be malnourished. The youth of our country, referred to as the future, do not see any future, and most are in a mad scramble to leave the country.
The President, PM and the Cabinet are equally responsible for this dastardly state of affairs. Still, for me, the G4 bears the greater responsibility in that, as so-called experts, they failed, and their failure is due to sheer arrogance and their reckless decision to experiment with the lives of millions of people.
For me, the comment made by MP M A Sumanthiran when addressing the G4 at the COPF meeting is relevant in meting out punishment to those responsible for the current situation in our country. He said, “The former minister of finance Mangala Samaraweera, who was a fashion designer and not an economist, predicted in October 2019 that the tax proposals of Gotabaya Rajapaksa as set out in his manifesto would result in an express train to bankruptcy, default and a Greek-style financial crisis.” He rebuked the G4, saying that their so-called expertise in economic management could not foresee what a fashion designer was able to!
That is precisely my conclusion too. This is a man-made disaster, and it is a travesty of justice that those responsible are still not behind bars whilst the people of this country are on their knees.
Features
Challenges faced by the media in South Asia in fostering regionalism
SAARC or the South Asian Association for Regional Cooperation has been declared ‘dead’ by some sections in South Asia and the idea seems to be catching on. Over the years the evidence seems to have been building that this is so, but a matter that requires thorough probing is whether the media in South Asia, given the vital part it could play in fostering regional amity, has had a role too in bringing about SAARC’s apparent demise.
That South Asian governments have had a hand in the ‘SAARC debacle’ is plain to see. For example, it is beyond doubt that the India-Pakistan rivalry has invariably got in the way, particularly over the past 15 years or thereabouts, of the Indian and Pakistani governments sitting at the negotiating table and in a spirit of reconciliation resolving the vexatious issues growing out of the SAARC exercise. The inaction had a paralyzing effect on the organization.
Unfortunately the rest of South Asian governments too have not seen it to be in the collective interest of the region to explore ways of jump-starting the SAARC process and sustaining it. That is, a lack of statesmanship on the part of the SAARC Eight is clearly in evidence. Narrow national interests have been allowed to hijack and derail the cooperative process that ought to be at the heart of the SAARC initiative.
However, a dimension that has hitherto gone comparatively unaddressed is the largely negative role sections of the media in the SAARC region could play in debilitating regional cooperation and amity. We had some thought-provoking ‘takes’ on this question recently from Roman Gautam, the editor of ‘Himal Southasian’.
Gautam was delivering the third of talks on February 2nd in the RCSS Strategic Dialogue Series under the aegis of the Regional Centre for Strategic Studies, Colombo, at the latter’s conference hall. The forum was ably presided over by RCSS Executive Director and Ambassador (Retd.) Ravinatha Aryasinha who, among other things, ensured lively participation on the part of the attendees at the Q&A which followed the main presentation. The talk was titled, ‘Where does the media stand in connecting (or dividing) Southasia?’.
Gautam singled out those sections of the Indian media that are tamely subservient to Indian governments, including those that are professedly independent, for the glaring lack of, among other things, regionalism or collective amity within South Asia. These sections of the media, it was pointed out, pander easily to the narratives framed by the Indian centre on developments in the region and fall easy prey, as it were, to the nationalist forces that are supportive of the latter. Consequently, divisive forces within the region receive a boost which is hugely detrimental to regional cooperation.
Two cases in point, Gautam pointed out, were the recent political upheavals in Nepal and Bangladesh. In each of these cases stray opinions favorable to India voiced by a few participants in the relevant protests were clung on to by sections of the Indian media covering these trouble spots. In the case of Nepal, to consider one example, a young protester’s single comment to the effect that Nepal too needed a firm leader like Indian Prime Minister Narendra Modi was seized upon by the Indian media and fed to audiences at home in a sensational, exaggerated fashion. No effort was made by the Indian media to canvass more opinions on this matter or to extensively research the issue.
In the case of Bangladesh, widely held rumours that the Hindus in the country were being hunted and killed, pogrom fashion, and that the crisis was all about this was propagated by the relevant sections of the Indian media. This was a clear pandering to religious extremist sentiment in India. Once again, essentially hearsay stories were given prominence with hardly any effort at understanding what the crisis was really all about. There is no doubt that anti-Muslim sentiment in India would have been further fueled.
Gautam was of the view that, in the main, it is fear of victimization of the relevant sections of the media by the Indian centre and anxiety over financial reprisals and like punitive measures by the latter that prompted the media to frame their narratives in these terms. It is important to keep in mind these ‘structures’ within which the Indian media works, we were told. The issue in other words, is a question of the media completely subjugating themselves to the ruling powers.
Basically, the need for financial survival on the part of the Indian media, it was pointed out, prompted it to subscribe to the prejudices and partialities of the Indian centre. A failure to abide by the official line could spell financial ruin for the media.
A principal question that occurred to this columnist was whether the ‘Indian media’ referred to by Gautam referred to the totality of the Indian media or whether he had in mind some divisive, chauvinistic and narrow-based elements within it. If the latter is the case it would not be fair to generalize one’s comments to cover the entirety of the Indian media. Nevertheless, it is a matter for further research.
However, an overall point made by the speaker that as a result of the above referred to negative media practices South Asian regionalism has suffered badly needs to be taken. Certainly, as matters stand currently, there is a very real information gap about South Asian realities among South Asian publics and harmful media practices account considerably for such ignorance which gets in the way of South Asian cooperation and amity.
Moreover, divisive, chauvinistic media are widespread and active in South Asia. Sri Lanka has a fair share of this species of media and the latter are not doing the country any good, leave alone the region. All in all, the democratic spirit has gone well into decline all over the region.
The above is a huge problem that needs to be managed reflectively by democratic rulers and their allied publics in South Asia and the region’s more enlightened media could play a constructive role in taking up this challenge. The latter need to take the initiative to come together and deliberate on the questions at hand. To succeed in such efforts they do not need the backing of governments. What is of paramount importance is the vision and grit to go the extra mile.
Features
When the Wetland spoke after dusk
By Ifham Nizam
As the sun softened over Colombo and the city’s familiar noise began to loosen its grip, the Beddagana Wetland Park prepared for its quieter hour — the hour when wetlands speak in their own language.
World Wetlands Day was marked a little early this year, but time felt irrelevant at Beddagana. Nature lovers, students, scientists and seekers gathered not for a ceremony, but for listening. Partnering with Park authorities, Dilmah Conservation opened the wetland as a living classroom, inviting more than a 100 participants to step gently into an ecosystem that survives — and protects — a capital city.
Wetlands, it became clear, are not places of stillness. They are places of conversation.
Beyond the surface
In daylight, Beddagana appears serene — open water stitched with reeds, dragonflies hovering above green mirrors.
Yet beneath the surface lies an intricate architecture of life. Wetlands are not defined by water alone, but by relationships: fungi breaking down matter, insects pollinating and feeding, amphibians calling across seasons, birds nesting and mammals moving quietly between shadows.
Participants learned this not through lectures alone, but through touch, sound and careful observation. Simple water testing kits revealed the chemistry of urban survival. Camera traps hinted at lives lived mostly unseen.
Demonstrations of mist netting and cage trapping unfolded with care, revealing how science approaches nature not as an intruder, but as a listener.
Again and again, the lesson returned: nothing here exists in isolation.
Learning to listen
Perhaps the most profound discovery of the day was sound.
Wetlands speak constantly, but human ears are rarely tuned to their frequency. Researchers guided participants through the wetland’s soundscape — teaching them to recognise the rhythms of frogs, the punctuation of insects, the layered calls of birds settling for night.
Then came the inaudible made audible. Bat detectors translated ultrasonic echolocation into sound, turning invisible flight into pulses and clicks. Faces lit up with surprise. The air, once assumed empty, was suddenly full.
It was a moment of humility — proof that much of nature’s story unfolds beyond human perception.

Sethil on camera trapping
The city’s quiet protectors
Environmental researcher Narmadha Dangampola offered an image that lingered long after her words ended. Wetlands, she said, are like kidneys.
“They filter, cleanse and regulate,” she explained. “They protect the body of the city.”
Her analogy felt especially fitting at Beddagana, where concrete edges meet wild water.
She shared a rare confirmation: the Collared Scops Owl, unseen here for eight years, has returned — a fragile signal that when habitats are protected, life remembers the way back.
Small lives, large meanings
Professor Shaminda Fernando turned attention to creatures rarely celebrated. Small mammals — shy, fast, easily overlooked — are among the wetland’s most honest messengers.
Using Sherman traps, he demonstrated how scientists read these animals for clues: changes in numbers, movements, health.
In fragmented urban landscapes, small mammals speak early, he said. They warn before silence arrives.
Their presence, he reminded participants, is not incidental. It is evidence of balance.

Narmadha on water testing pH level
Wings in the dark
As twilight thickened, Dr. Tharaka Kusuminda introduced mist netting — fine, almost invisible nets used in bat research.
He spoke firmly about ethics and care, reminding all present that knowledge must never come at the cost of harm.
Bats, he said, are guardians of the night: pollinators, seed dispersers, controllers of insects. Misunderstood, often feared, yet indispensable.
“Handle them wrongly,” he cautioned, “and we lose more than data. We lose trust — between science and life.”
The missing voice
One of the evening’s quiet revelations came from Sanoj Wijayasekara, who spoke not of what is known, but of what is absent.
In other parts of the region — in India and beyond — researchers have recorded female frogs calling during reproduction. In Sri Lanka, no such call has yet been documented.
The silence, he suggested, may not be biological. It may be human.
“Perhaps we have not listened long enough,” he reflected.
The wetland, suddenly, felt like an unfinished manuscript — its pages alive with sound, waiting for patience rather than haste.
The overlooked brilliance of moths
Night drew moths into the light, and with them, a lesson from Nuwan Chathuranga. Moths, he said, are underestimated archivists of environmental change. Their diversity reveals air quality, plant health, climate shifts.
As wings brushed the darkness, it became clear that beauty often arrives quietly, without invitation.

Sanoj on female frogs
Coexisting with the wild
Ashan Thudugala spoke of coexistence — a word often used, rarely practiced. Living alongside wildlife, he said, begins with understanding, not fear.
From there, Sethil Muhandiram widened the lens, speaking of Sri Lanka’s apex predator. Leopards, identified by their unique rosette patterns, are studied not to dominate, but to understand.
Science, he showed, is an act of respect.
Even in a wetland without leopards, the message held: knowledge is how coexistence survives.
When night takes over
Then came the walk: As the city dimmed, Beddagana brightened. Fireflies stitched light into darkness. Frogs called across water. Fish moved beneath reflections. Insects swarmed gently, insistently. Camera traps blinked. Acoustic monitors listened patiently.
Those walking felt it — the sense that the wetland was no longer being observed, but revealed.
For many, it was the first time nature did not feel distant.

A global distinction, a local duty
Beddagana stands at the heart of a larger truth. Because of this wetland and the wider network around it, Colombo is the first capital city in the world recognised as a Ramsar Wetland City.
It is an honour that carries obligation. Urban wetlands are fragile. They disappear quietly. Their loss is often noticed only when floods arrive, water turns toxic, or silence settles where sound once lived.
Commitment in action
For Dilmah Conservation, this night was not symbolic.
Speaking on behalf of the organisation, Rishan Sampath said conservation must move beyond intention into experience.
“People protect what they understand,” he said. “And they understand what they experience.”
The Beddagana initiative, he noted, is part of a larger effort to place science, education and community at the centre of conservation.
Listening forward
As participants left — students from Colombo, Moratuwa and Sabaragamuwa universities, school environmental groups, citizens newly attentive — the wetland remained.
It filtered water. It cooled air. It held life.
World Wetlands Day passed quietly. But at Beddagana, something remained louder than celebration — a reminder that in the heart of the city, nature is still speaking.
The question is no longer whether wetlands matter.
It is whether we are finally listening.
Features
Cuteefly … for your Valentine
Valentine’s Day is all about spreading love and appreciation, and it is a mega scene on 14th February.
People usually shower their loved ones with gifts, flowers (especially roses), and sweet treats.
Couples often plan romantic dinners or getaways, while singles might treat themselves to self-care or hang out with friends.
It’s a day to express feelings, share love, and make memories, and that’s exactly what Indunil Kaushalya Dissanayaka, of Cuteefly fame, is working on.
She has come up with a novel way of making that special someone extra special on Valentine’s Day.

Indunil is known for her scented and beautifully turned out candles, under the brand name Cuteefly, and we highlighted her creativeness in The Island of 27th November, 2025.
She is now working enthusiastically on her Valentine’s Day candles and has already come up with various designs.
“What I’ve turned out I’m certain will give lots of happiness to the receiver,” said Indunil, with confidence.
In addition to her own designs, she says she can make beautiful candles, the way the customer wants it done and according to their budget, as well.
Customers can also add anything they want to the existing candles, created by Indunil, and make them into gift packs.
Another special feature of Cuteefly is that you can get them to deliver the gifts … and surprise that special someone on Valentine’s Day.
Indunil was originally doing the usual 9 to 5 job but found it kind of boring, and then decided to venture into a scene that caught her interest, and brought out her hidden talent … candle making
And her scented candles, under the brand ‘Cuteefly,’ are already scorching hot, not only locally, but abroad, as well, in countries like Canada, Dubai, Sweden and Japan.
“I give top priority to customer satisfaction and so I do my creative work with great care, without any shortcomings, to ensure that my customers have nothing to complain about.”
Indunil creates candles for any occasion – weddings, get-togethers, for mental concentration, to calm the mind, home decorations, as gifts, for various religious ceremonies, etc.
In addition to her candle business, Indunil is also a singer, teacher, fashion designer, and councellor but due to the heavy workload, connected with her candle business, she says she can hardly find any time to devote to her other talents.
Indunil could be contacted on 077 8506066, Facebook page – Cuteefly, Tiktok– Cuteefly_tik, and Instagram – Cuteeflyofficial.
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