News
JVP predicts crash of economy imminent, due to mismanagement

By Saman Indrajith
The 2020 Central Bank annual report presented to Parliament last week is a testimony to the fact that the country’s economy is in dire straits, says the JVP.
Addressing the media at the party headquarters in Pelawatte yesterday, JVP Politburo member and former MP Sunil Handunnetti alleged that the government was using the funds meant for the development of the country for its projects to cling on to power. “The Central Bank report confirms many warnings we have been issuing in the recent past. The country’s economy is sliding into a recession and there would be a crash soon. The economy recorded a growth of -1.6% during the first quarter of 2020. That was before the onset of the pandemic. The situation worsened in the second quarter. The government is citing the pandemic as the reason for the sharp economic downturn.
“The impact of the pandemic on the economy is evident, but what we are experiencing is mainly due to the economic mismanagement. There are five main crises in our economy. The first is the loan crisis. The revenue received by the Treasury is not sufficient even to pay the installments of loans taken. To pay-back the due installments the country needs to borrow an additional 135 billion rupees. The total outstanding loans as at 2019 was Rs 14,115 billion. That increased to Rs 16,427 billion in 2020. The government has to pay 6.9 billion US dollars as loan repayments. The second is the import-export crisis.
“The government came into power promising to improve the production industry and bring down imports. We have sea areas, which eight times the country’s land masse, but we imported fish worth Rs 34,650 million in 2020. In 2010, we produced 27 percent of the onion requirement in this country; now it has dropped to eight per cent so that we have to import 92 per cent of the country’s onion requirement. We have imported Rs 27,610 million worth of salt, milk and milk products worth Rs 61,930 million. The third crisis is the weak government revenue. In 2016 the government income was around 23 per cent of the GDP. As at 2014 the figure dropped to 11.5 per cent. Now it’s at 9.1 percent.
“The fourth crisis is the collapse of the industrial sector due to the high cost of raw materials, failure to combine technological support with the industrial process and inability to create a proper market for industrial output. The fifth crisis is the inequitable distribution of national wealth.”
Of the total population, the top 10 percent of rich enjoy 38.4% of national income while 10 per cent at the bottom receive only 1.1 per cent of the national income. There is a huge tax burden on the people. This government promised to maintain 40 percent direct taxes and 60 percent indirect taxes. Yet now the indirect taxes are around 80 percent. Sri Lanka is the only country in the world with this much taxes on food consumed by the people. Even in India it’s 49 per cent, in Indonesia its 50 percent and in Thailand it is at 40 percent.”
JVP Central Committee Members Wasantha Samarasinghe and Nalin Hewage also addressed the press.
News
Turkish Naval Ship TCG BÜYÜKADA departs island concluding her visit

The Turkish Naval Ship TCG BÜYÜKADA which arrived in Sri Lanka on a formal visit, departed the island on 18 Jun 25.
The Sri Lanka Navy bade customary farewell to the departing
ship at the Port of Colombo, following naval traditions. Upon leaving, the Turkish Naval Ship engaged in a successful Passage Exercise (PASSEX) with SLNS Gajabahu in Colombo seas. The PASSEX involved training exercises in communication and tactical maneuvering, concluding with the traditional cheer ship salute.
Meanwhile, the Ambassador of the Republic of Turkey to Sri Lanka, Semih Lütfü Turgut, accompanied by the Commanding Officer of the visiting ship, Lieutenant Commander Anil
BİLGİN met with the Commander of the Navy, Vice Admiral Kanchana Banagoda at the Navy Headquarters on 13 Jun 25. The cordial discussion mainly focused on several matters of
bilateral importance and it importance of the occasion.
During her stay in Colombo, crew members of TCG BÜYÜKADA took part in several programmes including sporting events organized by the Sri Lanka Navy, aimed at enhancing mutual cooperation. In addition, they also explored some tourist attractions in the island.
Further, personnel of Sri Lanka Navy had the opportunity to visit the Turkish Naval Ship gaining insights into the ship’s operational capabilities.
Meanwhile, the enhanced cooperation and interoperability fostered through this nature of port calls made by foreign naval ships will provide a strong foundation for the Sri Lanka Navy to
collectively and effectively respond to emerging trends and challenges in the maritime fraternity.
News
Students of Nittambuwa Sanghabodhi National School visit President’s House

A group of students from Nittambuwa Sanghabodhi National School visited the Presidential Secretariat and the President’s House on Wednesday (18).
The visit was facilitated under the ‘Vision’ programme series, a collaborative initiative for schoolchildren organised by the Presidential Secretariat, the Ministry of Education and the Department of Communication of the Parliament of Sri Lanka.
As part of the visit, the students toured the Old Parliament building located within the Presidential Secretariat and received a briefing on the history of parliamentary democracy in Sri Lanka.
The students and teaching staff were also briefed on the Clean Sri Lanka initiative, spearheaded by President Anura Kumara Disanayake, as well as on the functions of the executive branch and the importance of the rule of law.
To symbolically emphasise the importance of environmental preservation, K.M.N. Kumarasinghe, Senior Additional Secretary to the President, presented the school with a valuable plant sapling.
Among those in attendance were Colonel Dhananjaya Senarath, Deputy Director of the Tri-Forces Security Operations Coordinating Unit; N.A.L. Wijerathna, Principal of Nittambuwa Sanghabodhi National School; and members of the school’s teaching staff.
News
President commends the service of outgoing Treasury Secretary Mahinda Siriwardana

President Anura Kumara Disanayake on Wednesday (18), lauded Mahinda Siriwardana, the outgoing Secretary to the Treasury, for his exemplary service, stating that it is the responsibility of public officials to strive to prevent adverse outcomes and contribute to positive change.
The President particularly commended Mr Siriwardana’s exceptional dedication and commitment in expertly navigating the nation’s economy through the transformative period following the recent economic crisis, ultimately achieving significant economic victories for the country. President Disanayake expressed his gratitude for Mr Siriwardana’s invaluable contributions.
These remarks were made by President Disanayake at a farewell ceremony organised at the Presidential Secretariat on Wednesday (18) morning to mark Mr Siriwardana’s retirement from his post as Secretary to the Treasury.
The President highlighted the need for a new value system focused on individual merit in an era where material possessions often overshadow genuine human values. He stressed that the country requires a public service driven by humanity and empathy towards others, fulfilling its duties rather than one marred by excessive consumerism and corruption.
President Disanayake further emphasised that the public service should not be an inaccessible mechanism aloof from citizens. He underscored the importance of considering the impact of decisions on people’s lives when making policy choices. The President concluded by stating that young public officials have much to learn from the distinguished career of Mr Mahinda Siriwardana, a senior public servant with extensive experience and profound understanding.
In his address, Mr Siriwardana described his three-year tenure as Secretary to the Treasury as the most significant period of his professional life. He thanked the President for maintaining confidence in him and allowing him to continue in the position despite a change in government leadership, noting that the President’s support was a great source of strength. Mr Siriwardana added that the country might not have overcome its economic crisis without President Anura Kumara Disanayake’s faith, resilience and boundless dedication.
During the ceremony, the President also presented Mr Siriwardana with a token of appreciation for his outstanding service.
The event was attended by Dr Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Economic Development; Dr Harshana Suriyapperuma, Deputy Minister of Finance and Planning; Dr Nandika Sanath Kumanayake, Secretary to the President; Dr Hans Wijayasuriya, Chief Presidential Adviser on Digital Economy; Duminda Hulangamuwa, Senior Presidential Adviser on Economic Affairs; other government officials; and family members of Mr Siriwardana, amongst other invited guests.
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