News

DEW: Rs. 229 bn relief package will lead to printing more money

Published

4 years ago

2022/01/14

Sahan Weerasooriya

… says govt. has got priorities mixed up

By Shamindra Ferdinando

Former Minister D.E.W. Gunasekera says that the cash-strapped government lacked the wherewithal to implement the much publicized Rs 229 bn relief package.

Therefore, the one-time General Secretary of the Communist Party said the government had no option but to print more money at the expense of financial stability at a time the country was under tremendous pressure. The former minister quit the top party post in August 2020.

CP organ ‘Aththa,’ in its January 09, 2022 edition quoted the former lawmaker as having alleged that the Rs 229 bn relief package meant for the public sector, pensioners and Samurdhi recipients was nothing but a political strategy to revive the waning popularity of the government.

Declaring that he had no issue with the government providing relief to the public sector et al, the ex-MP warned that such measures wouldn’t help resolve the growing crisis. The outspoken former minister said that the controversial relief package should be examined against the backdrop of the failure on the part of the government to allocate the required funds through the 2022 budget.

Mr. Gunasekera last served as a National List MP from 2010 to 2015.

Reiterating that such a move had been necessitated by political compulsions, the veteran Communist warned of the grave risk of rising inflation. The CP member questioned the absence of a mechanism to assist those in the private sector, small and medium scale industries as well as the unregulated economy. The much weakened national economy couldn’t be revived unless the government paid attention to the neglected sectors.

The veteran politician explained how the global Covid-19 epidemic devastated the unregulated economy world over. However, the government hasn’t taken into consideration the fuller picture. Instead the government sought to use the financial package to counter dissenting views within the government.

The ex-Minister said that even if printing money caused inflation, the government could have achieved positive results if the total amount was used to increase domestic production. Had that happened, the government could have accomplished both political and economic objectives.

The former MP said that incumbent Finance Minister Basil Rajapaksa hadn’t still understood the developing economic crisis.

Mr. Gunasekera told The Island that the private sector, including the plantation companies had quite clearly turned down the government request to match the special Rs. 5,000 monthly grant to employees. The government seemed not to have examined the situation at all, the former MP said, asserting that the current crisis could be the worst ever in post-independence Sri Lanka.

Continuing political instability in the wake of serious differences among coalition members with three ministers challenging a cabinet decision in the Supreme Court has jeopardized recovery attempts, Mr. Gunasekera said.

The one-time Chairman of the Committee on Public Enterprises (COPE) emphasized the pivotal importance of some real effort to reach consensus on the country’s response to the emerging threat. “We are almost overwhelmed. Unless tangible measures are taken there can be a catastrophe. Losses are likely to be immeasurable and irrevocable.”

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Police officers donate LKR 9,687,462 from day’s salary to ‘Rebuilding Sri Lanka’ Fund

Published

2 hours ago

2026/04/27

Priyan

A sum of LKR. 9,687,462, raised from day’s salary officers of the Police Department, has been donated to the ‘Rebuilding Sri Lanka’ Fund, established to support the recovery of communities affected by Cyclone Ditwah and to assist in rebuilding the country following the disaster.

To date, officers of the Police Department have contributed over LKR. 74 million to the ‘Rebuilding Sri Lanka’ Fund through three such contributions of one day’s salary.

The donation was presented on Wednesday (22) afternoon at the Presidential Secretariat by the Personal Assistant to the Inspector General of Police, Senior Superintendent of Police C. C. Bamunuarachchi, to the Secretary to the President, Dr Nandika Sanath Kumanayake.

Chief Inspector Udaya Kumara, Officer-in-Charge of the Police Secretariat, was also present on the occasion.

[Presidents Media Division]

Latest News

Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time

Published

10 hours ago

2026/04/27

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 26 April 2026, valid for 27 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry
of Health in this regard as well. For further clarifications please contact 011-7446491.

News

Opposition asks for PSC to probe Treasury theft

Published

11 hours ago

2026/04/27

Sahan Weerasooriya

Sajith

Opposition and SJB Leader Sajith Premadasa has called for the appointment of a Parliamentary Select Committee (PSC) to investigate the illegal diversion of Treasury funds, amounting to US$2.5 million to a third-party account.

Premadasa has said both the chairmanship and a majority of the Committee’s membership should be held by the Opposition to ensure impartiality.

The government has not only failed to account for the loss of US$2.5 million but also deliberately withheld information from Parliament, the Committee on Public Finance (COPF) and the public, Premadasa has told the media, accusing the ruling party of seeking to deflect responsibility by initiating an internal departmental inquiry, which he describes as a biased process designed to justify predetermined conclusions.

The Opposition Leader has said only a transparent and independent probe could establish the facts, adding that such an investigation could be effectively carried out through a Parliamentary Select Committee led by the Opposition.

He has also warned that the alleged failure to inform Parliament about the missing funds amounted to a serious breach of accountability.