News
FSP traces current forex crisis to PM doing away with Exchange Control Act under yahapalana rule
By Saman Indrajiith
The Frontline Socialist Party, on Tuesday, said that amending of laws in favour of forex racketeers by the Yahapalana government in 2017 was one of the main causes of the prevailing forex shortage crisis.
Addressing the media at the party head office in Nugegoda, FSP Education Secretary, Pubudu Jagoda, said that the then Prime Minister Wickremesinghe had got the Exchange Control Act amended. “Since 1953, we have had the Exchange Control Act which prevented questionable outflows of forex. Wickremesinghe brought in a new law under the name Foreign Exchange Act, in 2017, replacing the former legislation. He said the reason for doing away with the Exchange Control Act of 1953 was to liberalise the foreign exchange flow. However, the new law proved detrimental to this country’s interests. Around 30 forex fraudsters were released from the cases against them. The new law has led to the present foreign exchange crisis.
“As per the previous legislation, exporters required to bring home an equivalent, or more, of foreign exchange of the worth of their exports via the banking system. The violation of the law was a criminal offence. The offences, under the former legislation, were non bailable offences. As per the provisions of the Exchange Control Act, the property of the offender was to be confiscated. At the time the new law was introduced, there were around 30 cases pending before our courts against alleged violators of the former Act. Among those were close associates of Wickremesinghe and some members of the Rajapaksa family.
“It is usual when a new Act is introduced, replacing the former Act, mention has to be made with regard to the procedure to be adapted for the cases pending before the courts for offences committed under the previous Act. The new Foreign Exchange Act, introduced by Wickremesinghe, converted the criminal offence into a civil offence. It relegated the forex offences under the new act to the jurisdiction to Magistrates’ Courts from High Courts and also provided for bail to be granted by a Magistrate. With regard to the mandatory confiscation of property and earnings of forex crimes, the new Act placed it under the discretion of the judge. As per the provisions of the new Act, those pending cases came to an end. The provisions of the new Act called for a fresh filing of the cases within a period of three months. There were no cases filed for the same offences and all those who had been charged under the former Act were allowed to get away.
The new Act, which came into force in 2017, was favourable to forex racketeers and enabled many unscrupulous exports to park their dollars overseas, contributing to the present crisis.
News
Police officers donate LKR 9,687,462 from day’s salary to ‘Rebuilding Sri Lanka’ Fund
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
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
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.
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