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GL cites Maithri-Ranil battle over economy to highlight dangers of 19A

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By Shamindra Ferdinando 

 

Education Minister Prof. G. L. Peiris says the new government cannot move forward due to the 19th Amendment to the Constitution.

Prof. Peiris, who is also the Chairman of the SLPP, said that their priority would be to do away with controversial sections in the 19A causing hindrance to the new administration.

The minister said so addressing the media at the SLPP Office on Monday (24) at Nelum Mawatha.

 The crisis caused by the 19th Amendment was such that the government couldn’t move forward, systematically, Prof. Peiris said. The success of the new administration depended on the repealing of those sections inimical to the wellbeing of the country.

At the onset of the briefing, Prof. Peiris said that a Vote-on-Account would be presented to parliament later this week to secure funding required until the government presented the budget for 2021.

The Education Minister said that the SLPP never sought to suppress its intention to amend the 19th Amendment. Pointing out that it had been the SLPP’s main campaign slogan at the parliamentary election; Prof. Peiris said that they required a two-thirds majority in parliament to address the problem.

The SLPP obtained 145 seats, one more than the UPFA’s 144 at the 2010 general election. Prof. Peiris said that the government commanded an overwhelming majority of 150 seats with the backing of those friendly parties who contested on their own. The Eelam People’s Democratic Party (EPDP/2 seats), Sri Lanka Freedom Party/1 seat), National Congress (NC/1 seat) and Tamil Makkal Viduthalai Pulikal (TMVP/1 seat) back the SLPP.

Calling the 19th Amendment a curse, Prof. Peiris alleged that it undermined the country in numerous ways. The Education Minister dealt with one major problem caused by the 19th Amendment. The creation of two power centres by it ripped apart the then administration with President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe struggling for control. They caused unprecedented chaos, Prof. Peiris said, pointing out that such a situation wouldn’t have arisen if there was no 19th Amendment.

Prof. Peiris explained how President Sirisena in the wake of the debilitating setback experienced by the SLFP and the UNP at the Local Government poll in February 2018, abolished the Cabinet Committee on Economic Management (CCEM) headed by Premier Wickremesinghe. The President then named a National Economic Council (NEC) under his leadership.

The former law professor said that the CCEM that had been established to make recommendations to the Cabinet of Ministers on implementation of laws and related subjects concerning economic affairs, monetary and financial policy, national investment programme, facilitating private sector investments, investments and economic development of the country in a way functioned as an alternative to the cabinet. The Education Minister said that the Premier exercised powers to form his own cabinet as the cabinet of ministers included SLFPers.

Prof. Peiris said that investors wouldn’t have considered Sri Lanka a safe destination due to the battle between the two partners. President Sirisena, himself sacked a person whom he appointed to the NEC claiming that he was more away from Sri Lanka than in being paid half a million rupees a month.

Under no circumstances could power centres be created at the expense of stability. The 19th Amendment created an extremely dangerous situation that enabled various interested parties to undermine the country at will, the top academic said.

The former External Affairs Minister said that 19th Amendment paved the way for the Speaker, too, to play a nosy role not exercised by any previous Speaker.

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa tasked Justice Minister Ali Sabri to bring in the 20th Amendment to the Constitution to do away with controversial sections in the 19 A.

Prof. Peiris said that the government measures to introduce a new Amendment were on track.



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SJB: Excise, FM officials all out to pocket Rs 1 bn

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By Saman Indrajith

Matara District SJB MP Buddhika Pathirana yesterday told Parliament that the Finance Ministry and Excise Department officials had misled Prime Minister Mahinda Rajapaksa and State Minister Ajith Nivard Cabraal in order to obtain billion rupees, fraudulently.

The officials had got a contract for printing stickers or barcodes to be displayed on bottles of liquor awarded to an Indian company.

“The project would result in one-billion-rupee loss to the government coffers annually,” the MP said, adding that the money being taken from the public purse would end up in the pockets of corrupt officials.

Pathirana said that the Excise Department had commenced a project to paste stickers on bottles of liquor to differentiate them from the fake and counterfeit bottles in the market.

“As per this project’s requirements, 32 million stickers would be needed per month. The stickers are to be purchased from Madras Security Printers company of India. This method was proposed in 2016 but it failed and the officials thereafter decided to introduce a barcode system.

“The cost of a sticker at 25 cents and the new barcode system will cost of two rupees a piece. This is a dubious deal. It seems that the Finance Ministry officials and the Excise Department heads have ganged up to give the contract to the Indian company and get commissions. There are many unanswered questions. First, the contract of printing the barcode too has been given to the MSP company, which could not secure the first contract. I want to know whether the proper procurement process has been followed. The second question is whether the barcodes would be up to the standards listed in the tender. Third question is who had selected the MSP company which is black-listed in India after being found guilty of frauds with Indian liquor companies in providing stickers to them. MSP has been blacklisted in many other countries. The company has been banned in Sudan and Liberia for supplying the stickers to private companies. The last question is whether this fraud is being committed with the knowledge of ministers of this government.”

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Reserves fall to lowest since 2009, rupee strengthening to be short-lived: report

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by Sanath Nanayakkare

Sri Lanka’s Foreign reserves had dropped to USD 4.1bn in March 2021, the lowest since August 2009, on the back of over US$ 4bn outstanding debt payment during April-December 2021 period, a report issued by First Capital Research yesterday said.

According to the report, rupee appreciation is likely to be short-lived considering Sri Lanka’s depleting foreign reserve position, high foreign currency debt repayment requirement and limited funding sources available in the market are expected to further increase depreciation pressure on the currency during 2Q and 3Q.

“We maintain our exchange rate target for 1H2021 at Rs. 196-202 with 2021 year-end target at Rs. 205-215 as mentioned in our ‘Investment Strategy 2021 – January 2021,” the report recalls.

“Sri Lankan rupee appreciated 5% against the US dollar over the last 2 market days reversing the continuous accelerated depreciation witnessed in January-April 2021. On 12th April, Sri Lankan rupee recorded a historical low of Rs. 201:1 US$. Ministry of Finance (MoF) reported on the same day that the government of Sri Lanka entered into a loan agreement with the China Development Bank (CDB) for US$ 500mn and MoF expected the funds to be disbursed during the same week. Following the announcement, the market registered a steep appreciation with mid-rate recording at Rs. 190.9 on April 19,” it says.

The total foreign debt repayment (capital and interest) for 2021 is US$ 6 bn, according to the report.

Meanwhile FC Research believes that the temporary appreciation in USD-LKR, may adversely impact earnings of export companies such as Hayleys, Haycarb, Dipped Products, MGT Knitting Mills, Teejay Lanka, Expolanka Holdings etc. in the short term.

“However, considering the potential future currency pressure, we expect an overall depreciation of approximately 12% for the rupee providing a significant gain for companies with foreign currency revenue”, FC research predicts.

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Govt. asks Opposition not to propagate lies

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By Saman Indrajith

Chief Government Whip and Highways Minister Johnston Fernando yesterday accused the Opposition MPs of abusing parliamentary privileges to mislead the public by propagating lies about the Easter Sunday terror attacks. 

Addressing Parliament, Minister Fernando said: “The Opposition MPs level wild allegations in the House knowing that they have the cover of parliamentary privilege. If they have anything substantial or any knowledge of the perpetrators of the Easter attacks still not in custody they can go to the CID and lodge complaints so that such complaints could be investigated.”  

Fernando said so after SJB Galle District MP Manusha Nanayakkara had told the House that he possessed evidence of those who carried out the Easter Sunday terror attacks.

Nanayakkara also said that the facts that he had were not in the report of the Presidential Commission of Inquiry into the Easter Sunday carnage.

“You are making various statements regarding the Easter Sunday terror attacks in the Chamber without any proof because you know that you have Parliamentary privilege. You even quoted some statements which are not included in the PCoI report. How did you obtain such information? Why didn’t you complain about this to the CID in the first place? Your action is aimed at misleading the public,” the Minister said. 

Minister Fernando said that the Opposition should stop insulting Archbishop of Colombo Malcolm Cardinal Ranjith by misinterpreting the latter’s statements. 

“When you are in the Government you never said that this is a Buddhist country. Now you are insulting the Cardinal too. You should not do that,” the Minister said. 

“The former Government should be responsible for the terror attack. Now we are trying to punish those who are responsible for it. We will take action against everyone who is responsible. You should support us, not try to obstruct the on-going investigations,” Minister Fernando said.

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