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JVP asks why govt. so secretive about ‘domestic debt optimisation’

By Rathindra Kuruwita
The JVP yesterday asked the government why it had closed the banks for five days and summoned Parliament without an Order Paper if it was confident that the domestic debt restructuring would have no detrimental impact on the people.
JVP’s Dr. Nalinda Jayatissa told journalists in Colombo that the government had a responsibility to tell the people what it was planning to do.
“The JVP has not tried to cause panic contrary to claims made by some government ministers, and the problem was that the government had always been very vague about domestic debt restructuring,” he said.
“In April 2022, Sri Lanka defaulted on external debt servicing. At this point, there was no discussion on domestic debt restructuring. Then the government sought assistance of the IMF and reached an agreement with the latter. Even then, the government didn’t talk about domestic debt restructuring. Actually, some ministers said there would not be domestic debt restructuring, he said.
Dr. Jayatissa said that following the IMF agreement, Sri Lankans learned that the total debt of Sri Lanka amounted to 85.5 billion U.S dollars by the end of 2022.
“41.4 is external debt, and the rest is domestic debt. Out of the domestic debt, 25 billion dollars are in Treasury Bonds, 11 billion in Treasury Bills, 5.6 billion in development bonds, and the rest has been taken from various institutions. Who has invested in bills and bonds? Either state or private banks, insurance companies, or EPF/ETF. Apart from the deposits of customers, do these institutions have other substantial assets to buy these bonds?” he asked.
The JVP stalwart also asked the government to explain the difference between domestic debt restructuring and domestic debt optimization.
“Parliament is apparently meeting over the weekend. There isn’t even an order paper or a party leader’s meeting. If there is no problem for people, why is Parliament being summoned on a weekend without even an order paper? If nothing happens, why have they given banks a five-day holiday? The President also insists he will close down the stock market. Why are they asking people to stay at home?” he asked.
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Thanuja Murugesan appointed as Chief Secretary of the Northern Province

President Anura Kumara Disanayake has appointed Ms. Thanuja Murugesan as the new Chief Secretary of the Northern Province.
The official letter of appointment was presented to her on Tuesday (20) afternoon at the Presidential Secretariat by Secretary to the President, Dr. Nandika Sanath Kumanayake.
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President directs officials to promptly renovate the canals and drainage system in Colombo

With the rapid increase in dengue and chikungunya cases in the Colombo district, President Anura Kumara Disanayake has directed the relevant officials to promptly address the urgent maintenance of the canals and drainage system
The President gave these directives during a meeting held on Tuesday (20) at the Presidential Secretariat with officials from the Ministry of Urban Development, Construction and Housing, along with other relevant institutions.
The President questioned the officials regarding the inadequate maintenance of the canals and drainage systems, directing the Urban Development Authority to devise a plan that includes sustainable solutions for the improper disposal of waste and wastewater. The President also informed the relevant officials to submit the relevant plans promptly.
During the meeting, attention was also drawn to address the issue of improper waste disposal by enhancing the active involvement of Police Environmental Protection Division and Community Committees.
Minister of Urban Development, Construction and Housing Anura Karunathilaka, Governor of the Western Province Hanif Yusoof, the Chairman of the Urban Development Authority, the Chairman of the Sri Lanka Land Development Corporation and senior officials of relevant institutions were present at the meeting.
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Committee formed under Presidential Secretariat to investigate irregularities at SriLankan Airlines

President Anura Kumara Disanayake has instructed relevant authorities to establish a committee under the Presidential Secretariat to investigate allegations of corruption and mismanagement at SriLankan Airlines.
The directive was issued during a four-hour meeting held on Tuesday (20) at the Presidential Secretariat, attended by the airline’s Board of Directors and representatives from all affiliated trade unions.
The discussions aimed to secure the collective commitment of stakeholders to uphold the government’s decision to retain state ownership of the airline, eliminate losses and steer it toward recovery. President Disanayake stressed that rebuilding SriLankan Airlines would be impossible without unified efforts, adding that the institution must develop its internal capacity to rebuild itself.
Asserting the government’s role as the political authority, the President reiterated its commitment to making “all necessary sacrifices” to rescue Sri Lanka from its economic crisis. He emphasised that reviving the national carrier is the shared responsibility of its entire workforce.
Highlighting the allocation of Rs. 20 billion from the budget for SriLankan Airlines, the President underscored the need for stringent fiscal accountability, noting that these funds, drawn from public taxes, must be utilised efficiently. He also welcomed the “positive trend” of April’s operational revenue surpassing targets.
New proposals have been presented by the Board of Directors to transform SriLankan Airlines, which operates under government ownership, into a profitable entity. In line with these proposals, the trade union representatives who participated in the discussions stated before the President that they would extend their full support to achieving these goals.
Key Attendees at the meeting included:. Sarath Ganegoda, Chairman of SriLankan Airlines and members of the Board of Directors, representatives from trade unions, including: Flight Attendants’ Union (FAU), the Airline Pilots’ Guild of Sri Lanka (ALPGSL), the Association of Licensed Aircraft Engineers (ALAE), the SriLankan Airlines Aircraft Technicians’ Association (SLAATA), and the Sri Lanka Nidhahas Sewaka Sangamaya (SLNSS), the Inter-Company Employees’ Union (ICEU) and the SriLankan Airlines Executive Association (EASLA).
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