News

BASL concerned about impact of economic crisis on rule of law and democracy

Published

4 years ago

2022/01/17

The Bar Association of Sri Lanka (BASL) has said that it is gravely concerned about the signs of a looming economic crisis in Sri Lanka and its possible impact on the rule of law and democracy and on the living conditions of the people.

Secretary to the BASL, Rajeev Amarasuriya has said that the spiraling inflation, shortages of essential goods including cooking gas, the unavailability of foreign currency, people’s inability to remit monies overseas, the downgrading of Sri Lanka’s ratings by multiple international rating agencies, the temporary closure of the oil refinery at Sapugaskanda, reports of the operations of certain foreign airlines being suspended, warnings of a possible power crisis are all indicators which demonstrate the urgency of the need for the government to address the economic crisis without any further delay.

Text of the BASL statement: “A downturn in the economy can have far reaching adverse consequences to the Rule of Law and Governance of a Country. At its worst, economic decline can result in a complete breakdown of Law and Order, but even prior to that, serious repercussions flow from growing financial hardships that have to be borne by citizens that perpetuates inequality and the ability of citizens to enjoy or vindicate their rights, be they public or private rights. It goes without saying that the worst affected by economic hardship are the most vulnerable in society,” Amarasuriya said

Given below are excerpts of the press release: “It is an undisputed fact that since March 2020 there has been a gradual erosion of foreign reserves from approximately USD 7 billion. Although it was announced by the Central Bank that the reserves have increased to USD 3 billion, it remains to be ascertained how much of that are usable reserves to repay the debt and used to redress the prevailing balance of payments crisis. Even out of the available reserves a large proportion contains moneys obtained in the form of short-term foreign exchange swaps.

“There have been several sovereign credit ratings downgrades in the corresponding period by all the major credit rating agencies. The latest being the downgrades by Fitch Rating Agency to CC and Standard and Poor’s (S & P) to CCC. The International Sovereign Bonds yields across all tenures have remained in double digits for over a period of 2 years. This has made rollover of maturing sovereign bonds not feasible.

“There have also been reports of a flight of foreign capital both from the equities and as well as the money markets. Foreign participation in both markets at present is only negligible. The Economist magazine named Sri Lanka as one of the most vulnerable countries to the expected fallout in emerging markets from the anticipated raising of interest rates by the Federal Reserve of the United States. Debt to GDP from approximately 85% in 2019 is now estimated to have risen to approximately 104% of GDP. However, in the same period the government revenue as a percentage of the GDP has fallen from approximately 12% to 10%. Year on Year headline inflation in the month of November 2021 was recorded at 9.92% and December 2021 recorded a double digit figure of 12%, the highest in the past 7 years. The Net International Reserve Position of the Country has been negative for over three months consecutively. All of this has resulted in the scarcity of foreign exchange to sustain essential imports.

“The ability of the government to meet its total dollar requirements of approximately USD 6.9 billion in 2022 is being questioned, although the Central Bank has pledged that such commitments will be met. Questions as to the stability of the financial sector are also being raised.

“The BASL notes with deep concern the statement made in late December by the Joint Chambers of Commerce calling upon the government that if actions as envisaged by the recently announced Roadmap by the Central Bank of Sri Lanka are not materialized within the anticipated timeframes to reconsider other alternative courses of action available to the country such as engaging with the IMF to explore the funding options they can offer. The Joint Chambers have warned that if conditions do not improve many local companies would look to relocate their business operations overseas and that the ability to attract Foreign Direct Investment (FDI) into the country will be constrained.

“The BASL acknowledges that the government has been confronted with extraordinary challenges in the form of the pandemic which has caused disruptions to the economic activities. It also recognizes the fact that the government has taken measures to address the challenges arising thereof. Similarly, the Government has sought to undertake remedial measures to address the fallout from the prevalent crisis consequent to the loss of access to financial markets and the resulting paucity of foreign exchange domestically thereof. However, none of those measures have brought about the desired results and have failed to build confidence to reverse the flight of foreign capital from the equities and money markets. Neither have these steps resulted in regaining access to international financial markets to raise debt.

“Enjoyment of a living standard based on desired lifestyle choices and income has become a challenge. Our members who are mostly self-employed are particularly vulnerable and adversely impacted by these events as savings and assets form the bedrock of their economic safety net. Some of the measures taken by the Government have directly impeded the ability of our members to perform their professional duties, particularly the purported regulation that compels the conversion of foreign inflows into rupees within a stipulated time period.

“We believe that the present crisis is the crescendo of the crisis emanating from the systematic undermining of the rule of law and governance based on executive convenience and expediency rather than on institutional independence and autonomy over a long period of time by successive governments.

“In these circumstances, the BASL calls upon the government to seek the assistance of acknowledged independent and non-partisan experts both domestically and internationally and also of multilateral institutions that have a proven record of providing resources financially as well as in the form of technical expertise that will enable sustainable solutions to this crisis. It is our belief that such assistance will result in the prescriptions that manifest to the world Sri Lanka’s belief in institutions as a country where effective governance is not contingent on personalities. It will manifest the fact that Sri Lanka has the desire and institutional capacity to respond to the exigencies brought by the present crisis via prescriptions that subscribe to the Rule of Law. Moreover, it is our belief that only such a response will create the institutional framework that ensures the efficient collection of revenue and the result in the efficient allocation of scarce resources and the formulation of monetary policy that ensures economic stability rather than a permissive one which facilitates executive expediency and convenience. The achievement of these outcomes is in our opinion indispensable to resolve the crisis at hand.”

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India A beat Sri Lanka A by 8 runs in thriller

Published

8 hours ago

2026/06/9

Priyan

Sahan Arachchige played a crucial knock for Sri Lanka A

India A beat Sri Lanka A by eight runs in the first match of the tri series being played at Dambulla.

Batting first India A powered by almost a run a ball century by Rutraj Gaikwad [101 off 114 balls] and a half ton from Tilak Varma [60] posted 277/6. Mohammed Shiraz captured 2 wickets including the wicket of India’s 15 year old batting sensation Vaibhav Sooriyawanshi who was caught by Sahan Arachchige for 14.

In the chase Sri Lanka were in the hunt with 40 plus scores from Niroshan Dikwella, Avishka Fernando and Saddera Samarawickrema and a 72 ball 74 from Shan Arachchige but lost the momentum after Arachchige fell with the score on 262. Sri Lanka A fall short by 8 runs losing their last three wickets for the addition of seven runs !

SCORES:
INDIA A 277/6 in 50 overs [Priyansh Arya 32, Rutraj Gaikwad 101, Tilak Varma 60; Mohamed Shiraz 2-67] beat SRI LANKA A 269 in 48.5 overs [Niroshan Dickwella 47, Avishka Fernando 45, Sadeera Samarawickrama 46, Sahan Arachchige 74; Arshad Khan 2-24, Anukul Roy 2-49, Ayush Badoni 2-46, Vipraj Nigam 2-46] by 8 runs

Vaibhav Sooryavanshi in action on India A debut•Jun 09, 2026 [SLC]

Mohamed Shiraz celebrates the wicket of Vaibhav Sooryavanshi [SLC]

News

Food Policy and Security Committee meets

Published

11 hours ago

2026/06/9

Priyan

A meeting of the Food Policy and Security Committee was held on Monday (08) afternoon at the Presidential Secretariat under the co-chairmanship of Minister of Agriculture, Livestock, Land and Irrigation, Lal Kantha and Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe.

The meeting extensively discussed the measures that should be taken and the preparedness required to mitigate any potential impacts on Sri Lanka arising from the anticipated global El Niño phenomenon.

Particular attention was given to the possible effects of El Niño on the agricultural sector. Discussions also focused on the need to ensure adequate water storage in reservoirs for the forthcoming Yala season and to safeguard drinking water supplies. Minister Wasantha Samarasinghe instructed officials to obtain the views and recommendations of the relevant institutions on these matters.

It was further decided to convene a special meeting of the Food Policy and Security Committee in the near future to continue discussions on the issue. Relevant line agencies, including the Ministry of Agriculture, the Department of Agriculture, the Mahaweli Authority and the Department of Irrigation, were instructed to prepare and submit comprehensive plans outlining measures to address the potential impacts of the El Niño phenomenon.

The Ministers noted that, just as the country had successfully managed challenges arising from Cyclone Ditwah and the conflict situation in the Middle East, plans were already in place to effectively manage this potential global challenge. They emphasised that the Government was giving special attention to the matter.

Minister Wasantha Samarasinghe further pointed out that natural disasters cannot be predicted with certainty and stressed the importance of developing contingency plans in advance to respond effectively to any eventuality.

Among those present were Senior Additional Secretary to the President Kapila Janaka Bandara, Secretary to the Ministry of Public Administration, Provincial Councils and Local Government, S. Aloka Bandara, Secretary to the Ministry of Health and Mass Media, Dr. Anil Jasinghe, Director General of Health Services Dr. Asela Gunawardena, Acting Director General of the Department of Meteorology, A. L. K. Wijemannage, Director General of the Department of Agriculture W. A. R. T. Wickramarachchi and other members of the Food Policy and Security Committee.

President’s Media Division (PMD)

News

PM launches the first phase of the National Education Management Information System

Published

20 hours ago

2026/06/9

Priyan

Prime Minister and Minister of Education, Higher Education and Vocational Education, Dr. Harini Amarasuriya, stated that as a government committed to ensuring the future of the nation’s children, it is essential to establish an education system in which every child can equally experience quality education. The Prime Minister emphasized that decisions must be made based on accurate data, sound policies, and technological evidence in order to achieve this goal.

The Prime Minister made these remarks while attending the official launch of the first phase of the Human Resources Module of the National Education Management Information System (NEMIS) and the pilot project of the e-Thaksalawa Learning Management System (LMS), held at Temple Trees on Saturday [6th of June 2026].

The National Education Management Information System has been developed to enhance the efficiency and effectiveness of human resource management and administration, which are among the five key pillars of the ongoing education reforms.

Previously, each province operated its own independent information systems, and through this new platform, it is expected to manage all information relating to both national and provincial schools under a single integrated system. Accordingly, the first phase, the Human Resources Module, was officially launched. Under this initial module, teacher transfers in the provinces of Sabaragamuwa, Western, Southern, and North Western will be managed through the system, with plans to expand it island-wide in due course.

The remaining modules to be introduced in the future are designed to facilitate comprehensive human resource management for all academic staff in schools.

This initiative has been implemented through the collaborative efforts of the Prime Minister’s Office, the Ministry of Education, Higher Education and Vocational Education, the Ministry of Digital Economy, the Task Force on Digital Transformation in Education, provincial and zonal education authorities, technical teams, and the Sri Lanka Air Force.

Simultaneously, the pilot project of the e-Thaksalawa Learning Management System (LMS) was also launched, aiming to expand digital learning opportunities and enhance the teaching, learning, and assessment processes for students.

Addressing the occasion, Prime Minister Dr. Harini Amarasuriya stated:

“Instead of allowing different sectors of the education system to function in isolation, we are integrating educational administration, the delivery of education, and educational content into a one framework. What we have embarked upon is by no means a minor undertaking.

Digitalisation is importance to our government. We must evolve and move forward with rapidly changing world. We believe that digitalisation is essential in order to deliver the public services more efficiently and transparently. In particular, the education reforms we will implement in the future require accurate data. Through the National Education Management Information System, we will be able to obtain reliable data while ensuring transparency and quality in education.

All national schools will be incorporated into this system in the near future. Teacher data from several provincial schools have already been entered. Through this platform, we expect to manage teacher recruitment, transfers, promotions, and other services related to the education sector in a transparent and efficient manner.

When digitalising public services, we must also nurture citizens with the knowledge and skills to use them. The primary responsibility for this lies with the education sector. That is why we have planned to build human capital through the e-Thaksalawa Learning Management System.

Digitalisation is not a substitute for teachers. Education is fundamentally based on human relationship. No matter how much technology is available in classrooms, learning does not happen automatically. It is the teacher who engages directly with students. Therefore, digital technology should serve as a tool that empowers teachers and further enhances their importance.

By using digitalisation, we intend to address key challenges such as providing high-quality education to under-resourced schools, ensuring that every school benefits from the expertise of capable teachers, and creating educational opportunities for children with special needs. Our vision is to use digitalisation to nurture humane, enlightened citizens who are prepared for the future.

During the event, commemorative plaques were presented by the Prime Minister to officials representing the Sabaragamuwa, Eastern, and Uva Provinces, as well as to officers of the Sri Lanka Air Force, in recognition of their contribution to the development of the first phase of the National Education Management Information System.

The occasion was attended by the Deputy Minister of Digital Economy Eranga Weeraratne, Secretary to the Prime Minister Pradeep Saputhanthri, Secretary to the Ministry of Education, Higher Education and Vocational Education Nalaka Kaluwewa, and Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, and Chief Secretaries of Provincial Councils, the Commander of the Sri Lanka Air Force, Provincial Secretaries of Education, provincial education authorities, senior officials representing the Prime Minister’s Office, the Ministry of Digital Economy and the Ministry of Education, as well as members of the Task Force on the Digital Transformation of Education and senior officers of the Sri Lanka Air Force.

[Prime Minister’s Media Division]