News
Ahead of IMF approval, govt promises anti-corruption bill
By SHIHAR ANEEZ
Sri Lanka expects to present an anti-corruption bill to the parliament in coming days, Cabinet Spokesman said, as the island nation has been urged by the International Monetary Fund (IMF) to reduce corruption.
The IMF has urged Sri Lanka to reduce corruption vulnerabilities through improving fiscal transparency and public financial management, introducing a stronger anti-corruption legal framework, and conducting an in-depth governance diagnostic, supported by IMF technical assistance in return to a $2.9 billion loan.
Sri Lanka, in return of the loan, has agreed to reduce corruption vulnerabilities through improving fiscal transparency and public financial management, introducing a stronger anti-corruption legal framework, and conducting an in-depth governance diagnostic, supported by the IMF technical assistance.
The IMF on Tuesday said that Sri Lanka has now received financing assurances from all major bilateral creditors, which will pave the way for consideration by the IMF’s Board on March 20 the approval of the Staff Level Agreement reached on September 1, 2022 for financing under an Extended Fund Facility
“We have discussed it in the cabinet before and the act has already being drafted by the Minister of Justice Wijedasa Rajapaksa,” Cabinet Spokesman Bandula Gunawardena told the weekly cabinet briefing on Wednesday (8).
“It will be definitely presented to the parliament in the coming days.”
Most Sri Lankans are furious about systemic corruption with political leaders are ignorant of curbing them.Activists and civil society officials have accused some politically influenced people of amassing wealth in an illegal way in foreign countries since 2005.
They have blamed failures to curb corruption for the unprecedented economic crisis which later turned into a political crisis.
Former president Mahinda Rajapaksa and his family members have been accused of acquiring wealth in abroad and many protesters during the prolonged three month protest last year have demanded proper investigations with the help of international organisations like the United Nations.Rajapaksa has rejected such allegations.
The protests forced them president Gotabaya Rajapaksa and his elder brother ex-premier Mahinda to resign in the face of furious public agitations against their wrong economic policies.
The resignation of Rajapaksa led the parliament to elect Ranil Wickremesinghe as the president in an unprecedented manner.However, President Wickremasinghe is yet to act on past corruptions under previous governments.
Last month Wickremesinghe said an Anti-Corruption Bill will be introduced and the government was taking steps to include the ‘Stolen Assets Recovery (StAR)’ initiative in this Bill, together with the assistance of the World Bank and the United Nations (ECONOMYNEXT)
The Colombo Stock Exchange (GL 12) has contributed LKR 25 million to the Rebuilding Sri Lanka Fund.
The cheque was handed over to the Secretary to the President Dr. Nandika Sanath Kumanayake by the Chairman of the Colombo Stock Exchange, Dimuthu Abeyesekera, the Chief Executive Officer Rajeeva Bandaranaike and Senior Vice Chairman Kusal Nissanka at the Presidential Secretariat.
News
Karu argues against scrapping MPs’ pension as many less fortunate members entered Parliament after ’56
Former Speaker of Parliament Karu Jayasuriya has written to President Anura Kumara Dissanayake expressing concerns over the proposed abolition of MPs’ pensions.The letter was sent in his capacity as Patron of the Former Parliamentarians’ Caucus.
In his letter, Jayasuriya noted that at the time of Sri Lanka’s independence, political participation was largely limited to an educated, affluent land-owning elite. However, he said a significant social transformation took place after 1956, enabling ordinary citizens to enter politics.
He warned that under current conditions, removing parliamentary pensions would effectively confine politics to the wealthy, business interests, individuals engaged in illicit income-generating activities, and well-funded political parties. Such a move, he said, would discourage honest social workers and individuals of modest means from entering public life.
Jayasuriya also pointed out that while a small number of former MPs, including himself, use their pensions for social and charitable purposes, the majority rely on the pension as a primary source of income.
He urged the President to give due consideration to the matter and take appropriate action, particularly as the government prepares to draft a new constitution.The Bill seeking to abolish pensions for Members of Parliament was presented to Parliament on 07 January by Minister of Justice and National Integration Dr. Harshana Nanayakkara.
Five suspects, including former Minister Johnston Fernando and his two sons, who were arrested by the Financial Crimes Investigation Division (FCID), were further remanded until 30 January by the Wattala Magistrate’s Court yesterday.
The former Minister’s , sons Johan Fernando and Jerome Kenneth Fernando, and two others, were arrested in connection with the alleged misuse of a Sathosa vehicle during Fernando’s tenure as Minister.
Investigations are currently underway into the alleged misuse of state property, including a lorry belonging to Lanka Sathosa, which reportedly caused a significant financial loss to the state.
In connection with the same incident, Indika Ratnamalala, who served as the Transport Manager of Sathosa during
Fernando’s tenure as Minister of Co-operatives and Internal Trade, was arrested on 04 January.
After being produced before the Wattala Magistrate’s Court, he was ordered to be remanded in custody until 09 January.The former Sathosa Transport Manager was remanded on charges of falsifying documents.
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