News
Lanka cannot abandon IMF framework, must strengthen foreign ties – Ranil

Sri Lanka must embrace rapid economic growth and bold reforms to secure its future, former President Ranil Wickremesinghe asserted, warning that the country cannot afford to remain stagnant.
Joining Ada Derana’s current affairs programme @hydepark, the former President emphasized that reforms are required for the country’s economy to move forward, while questioning whether the current government is willing to take the necessary steps.
“This economy is not a fully market economy. We have to do the reforms. To go ahead, we have to make major changes,” he said, adding that “I don’t know if the current government is willing to make the changes from the statements they have made. But without major changes, without getting foreign money, being friendly with countries … we have to work with India as the first step. We can’t be by ourselves in this world.”
Speaking on Sri Lanka’s foreign relations, economic policies, and the challenges ahead, Wickremesinghe defended his leadership during the financial crisis and outlined the necessary steps to drive recovery and long-term stability.
Former President Ranil Wickremesinghe defended his handling of Sri Lanka’s foreign relations and economic crisis during his tenure, stating that his government pursued a strategy of “multi-alignment” rather than balancing between global powers.
“We align with all our friends. We had a good relationship with China, and that relationship continued. We had big projects, like Hambantota Port, Port City, but unless Sri Lanka grows, they can’t get a return on these projects.”
“The framework has been laid [during my tenure], the question is if they are going to continue or not. If you stand by your word and you’re really upto performance, your economy is strong. If you don’t do that, the rest is useless.”
Addressing the International Monetary Fund (IMF) programme, Wickremesinghe stressed the importance of maintaining policy consistency. “We have stabilized the economy. The next phase is recovery. Investments lead not only to recovery but also to growth, and you [the current government] have to start now.”
He dismissed suggestions that Sri Lanka could have avoided an IMF bailout, stating, “We could not recover without going through the IMF. If not, where will you find the money? All our creditor nations and bondholders wanted an IMF certificate. Sri Lanka has broken many agreements with the IMF in the past, but under my leadership, we did not.”
Furthermore, the former President added: “You should continue the same policies, if you are amending the IMF agreement, it must be within the framework and the debt sustainability analysis and the EFF agreements and it must be agreed to by the IMF.
“Everyone has to take responsibility. IMF is also answerable to creditor nations and private bond holders. They are very, very careful, you can’t be changing things like earlier. You have to stick to it. If you want to change the economic transformation act, you have to say what it is. I mean there’s a lot of loose talk here. So far, I don’t see much of implementation taking place which I think is going to be the major problem.”
He also expressed views over the government borrowing Rs. 700 billion from the domestic market despite previous assurances against it, citing revenue shortfalls. “One treasury official said yesterday that they lost about Rs. 60 billion due to tax amendments, but some claim it to be even more. When the IMF review team arrives in early April, they will have to address this. But it’s a bit worrying that we have these figures.”
Wickremesinghe said: “We need not to be poor. We can have a trillion dollar economy. You must go for it. But to do that, you must understand the realities of economics and the current geopolitics. We have to live with it. We must know to get the best out of the world.”
News
Southern Expressway land leased to Rajapaksa allies for Rs. 10,000 – Minister

Leader of the House and Transport Minister Bimal Rathnayake told Parliament yesterday that a service area on the Southern Expressway had been leased for 99 years to individuals linked to the Rajapaksa family for just Rs. 10,000.
Responding to questions raised by Opposition MPs Rohitha Abeygunawardena and Ajith P. Perera, Minister Rathnayake also claimed that the Rajapaksa associates had obstructed the construction of several other approved service areas along the expressway.
He said that the Southern Expressway project suffered from serious irregularities, including deviations from feasibility studies, which he said led to the wastage of billions of rupees.
Highlighting specific discrepancies, the Minister pointed to the construction of two interchanges that were not part of the original expressway blueprint.
“One is at Kapuduwa, just 5 km from Godagama in Matara, serving only traffic to and from Colombo. The other is at Bedigama, 6 km from Beliatta,” he said, adding that each interchange cost over Rs. 10 million to build.
By Saman Indrajith
News
Hike in bus fares if Israel-Iran conflict results in higher fuel prices

A hike in private bus fares could be on the cards next month if global fuel prices continue to climb as a result of the ongoing Israel-Iran conflict, according to Lanka Private Bus Owners’ Association (LPBOA) President, Gemunu Wijeratne.
Wijeratne told The Island yesterday (20), that the annual bus fare revision, scheduled for the 1st of next month, could lead to a revision in fares, should fuel prices in the global market remain on an upward trajectory.
He said that while fuel prices are already high due to the prevailing geopolitical tensions, the Association is cautious about pushing for a fare increase immediately, warning that such a move could adversely affect the industry in the current economic climate.
However, Wijeratne emphasised that if international fuel prices stabilise and remain at their present levels, a fare hike may not be necessary.
“The situation is being closely monitored. We hope that the global market stabilises, but if fuel prices continue to rise, we will have no choice but to adjust fares accordingly,” he added.
By Pradeep Prasanna Samarakoon ✍️
News
Committee probing alleged abuse of power by IGP approves inclusion of two additional witnesses, currently abroad

The Committee of Inquiry investigating allegations of gross abuse of power by IGP Deshabandu Tennakoon convened for the fourth consecutive day on Thursday, under the Chairmanship of Supreme Court Justice Preethi Padman Surasena. The Committee also includes Justice W.M.N.P. Iddawala and E.W.M. Lalith Ekanayake, Chairman of the National Police Commission, the Parliament Media Division said.
It said that as of Thursday, 28 prosecution witnesses have testified before the Committee, including seven on that day (Thursday).
The Committee has also approved the inclusion of two additional witnesses, currently abroad on official duty, to testify after their return to the country on 26 June. This request was submitted by Additional Solicitor General and President’s Counsel Dileepa Peiris, and Deputy Solicitor General Rajitha Perera, representing the Attorney General’s Department.
Attorney-at-Law R.S. Weerawikrama, appearing on behalf of IGP Tennakoon, gave his consent for the two witnesses to be summoned for examination and cross-examination upon their return. The Committee granted the request.
Although initially scheduled to reconvene yesterday (20), proceedings have been postponed to Monday, 23 June, following a request by Weerawikrama to allow additional time to prepare the IGP’s defence. With the Attorney General’s Department not objecting, the Committee approved the postponement.
The next sessions will be held from 23 to 25 June, commencing at 9:30 a.m. daily. During this period, 15 witnesses are expected to testify on behalf of the Respondent IGP.The Committee will reconvene again at 2:00 p.m. on Thursday, 26June, following the conclusion of the defense’s witness testimonies.
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