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New leader’s promises will be tricky to keep in crisis-hit Sri Lanka
Stunning election wins by a new left-leaning president and his party have changed Sri Lanka’s political landscape – but the cash-strapped island’s new rulers are quickly realising that campaign promises are easier to make than to keep.
Anura Kumara Dissanayake’s remarkable victory in the presidential election in September was swiftly followed by a landslide for his National People’s Power (NPP) alliance in parliamentary elections.
As a new year starts, he and his supporters want this to be a turning point for the country, which is trying to recover from devastating economic crisis and years of misrule.
However, they have limited room for manoeuvre to make good on pledges to voters, whose expectations from the new government are high.
Since the financial meltdown of 2022, economic recovery has been fragile and Sri Lanka is far from out of the woods.
The NPP won 159 seats in the 225-member assembly in November – an unprecedented two-thirds majority – giving Dissanayake a sweeping mandate to push through major economic and constitutional reforms.
However, even as the results were coming in, the new president had to gear up for a meeting with a visiting delegation from the International Monetary Fund (IMF), with which the outgoing government had negotiated a $2.9bn (£2.31bn) bailout package. The IMF deal became controversial as it led to severe austerity measures, tax rises and cuts in energy subsidies – hitting common people hard.
During the campaign Dissanayake and his alliance promised that they would re-negotiate parts of the IMF agreement.
But in his address to the new parliament, he performed a U-turn. “The economy is in such a state that it cannot take the slightest shock… There’s no room to make mistakes,” Dissanayake said.
“This is not the time to discuss if the terms [of the IMF loan] are good or bad, if the agreement is favourable to us or not… The process had taken about two years, and we cannot start all over again.”
The voters’ overwhelming verdict for the NPP is seen as the culmination of a people’s uprising triggered by the economic crisis. The uprising toppled president Gotabaya Rajapaksa in the summer of 2022, when Sri Lanka ran out of foreign currency and struggled to import food and fuel.
The country had earlier declared bankruptcy after defaulting on its external debt of about $46bn. India, China and Japan are among those who have loaned billions of dollars.
The recent election results also reflected people’s anger towards established political parties – of former presidents Mahinda Rajapaksa and Ranil Wickremesinghe and others – for failing to handle the economic meltdown.
“One of the priorities for Dissanayake will be to give some economic relief to the people due to excessive taxation and the cost-of-living crisis. Debt management is another big challenge,” veteran political analyst Prof Jayadeva Uyangoda told the BBC.
So far the massive political changes don’t seem to have had any impact on people like Niluka Dilrukshi, a mother-of-four who lives in a suburb of the capital Colombo. Her husband is a daily-wage labourer and the family still find it hard to get by.
The BBC spoke to her about the soaring cost of living in January 2022, months before mass protests erupted. At that time, she said her family was eating only two meals a day, instead of three, and they were giving only vegetables and rice to their children due to the high cost of fish and meat.
“We are still struggling to make ends meet and nothing has changed. The price of rice, which is the staple food, has increased further. We are not getting any relief from the government,” Mrs Dilrukshi said.
People like her want the new government to take immediate steps to bring down the cost of essentials. Sri Lanka is an import-dependent nation, and it needs foreign currency to bring in items like food and medicine.
For now, Colombo is able to hold on to its currency reserves as it has suspended its debt repayments.
The real struggle, experts point out, will start probably in the next three or four years when it starts repaying its debt.
People’s perception of President Dissanayake and his new government could change if there’s no visible change in their standard of living in the next two or three years.
“People have given him a huge mandate. The IMF should respect that by allowing him to give some relief to the people through social welfare programmes,” says Prof Uyangoda.
Dissanayake must also contend with India and China, which are jostling for influence in Sri Lanka, where both have invested heavily in recent years.
“Both India and China will try to bring Colombo under their sphere of influence. I think the new government’s foreign policy will be very pragmatic without aligning with anyone,” says Prof Uyangoda.
In a careful diplomatic manoeuvre, Dissanayake chose Delhi as his first official overseas destination in mid-December. During the visit, India promised to supply liquefied natural gas for Sri Lankan power plants and work on connecting the power grids of the two countries in the long run.
China’s increasing foothold in Sri Lanka, especially calls by Chinese “research” vessels to the island’s ports – so close to India’s southern tip – has triggered concern in Delhi.
“I have given an assurance to the prime minister of India that we will not allow our land to be used in any way in a manner that is detrimental to the interest of India,” Dissanayake said after talks with Narendra Modi. Delhi will no doubt be pleased with the assurance, but Dissanayake will find out what Beijing expects when he visits China in mid-January.
[BBC]
The Public Utilities Commission of Sri Lanka (PUCSL) has granted approval to increase electricity tariffs with effect from 1st April .
The Ceylon Electricity Board (CEB) requested a 13.56% electricity tariff revision for the second quarter of this year.
The revision announced by the PUCSL for domestic consumers:
0–30 units category, electricity tariffs will rise by 4.3%,
31–60 units category, tariffs will rise by 6.9%,
61–90 units category, tariffs will rise by 6.9%,
91–120 units category, tariffs will rise by 7.2%,
Above 180 units, electricity tariffs will rise by 25.3%
The PUCSL has decided not to increase electricity tariffs for religious and charitable institutions that consume below 180 units monthly and a 9.6% increase for institutions that consume above 180 units.
Ectricity tariffs for the general and household consumer categories has been increased by 8%, while the electricity tariff increase for the industrial sector is 8.7%, the increase in tariff for government institutions is 14.4%.
Before Sunday, Mumbai Indians had never chased down a 220-plus target in their previous seven attempts. MI had never won their opening game of the IPL since 2012. On day two of IPL 2026, MI broke two jinxes as they chased down 221 in 19.1 overs to begin their season with a comfortable six-wicket win over Kolkata Knight Riders. Rohit Sharma wound back the clock, smashing 78 off 38 balls, while Ryan Rickelton thumped 81 off 43, the duo adding 148 runs for the opening wicket off 71 balls.
That KKR were coming into this opening game severely depleted on the bowling front was known. The extent of it was visible on Sunday night with Vaibhav Arora and Blessing Muzarabani toothless, Varun Chakravarthy ineffective and Sunil Narine a shadow of his former self.
At the halfway mark, KKR might have been happy reaching 220 for 4, their second-highest score against MI in the IPL. Ajinkya Rahane, who at the toss said that he had “never seen so much of grass at Wankhede”, scored 67 off 40 balls while Angkrish Raghuvanshi, another Mumbai lad, made 51 off 29 as KKR breached the 220 mark. But against a KKR unit missing several of their frontline seamers, MI barely had any hiccups, completing the highest-successful IPL chase at the Wankhede with five balls to spare.
It was a typical Rohit innings that Wankhede has witnessed so many times, laced with some of the most pristine shots. He was on 12 off eight at one stage, but once in, he lit up Mumbai like only he can. Coming into the game, he had a strike rate of less than 100 against Varun in T20s. So, what did he do? He lofted the spinner inside-out over covers first ball and then lifted him for six the next ball. By the time the powerplay was done, Rohit had raced to a 23-ball fifty, his fastest in the IPL and MI’s chase was on course.
They raced to 80 in the first six, past 100 in 8.1 overs and by the time Rohit fell, thanks to a lovely catch by Anukul Roy running back from mid-off, MI’s required rate had gone below nine, which at the start of the innings was above 11 an over.
There were a few raised eyebrows when Rickelton was picked over the more experienced Quinton de Kock , but the former justified his selection. Rickelton needed just the first couple of overs to get a hang of the surface and once he did, there was no stopping him. He deposited Arora for back-to-back sixes, one over extra cover and then over deep midwicket, and that kickstarted a brutal takedown of the KKR bowlers.
While he saw Rohit do his thing in the powerplay, Rickelton took on Narine after the six-over mark. He slog swept him over deep midwicket in his first over and then launched him over the ropes twice in three balls in the next to raise a 24-ball fifty.
He didn’t stop there and only fell courtesy a stunning direct hit from the deep by Anukul. Suryakumar Yadav, the Impact Sub, came and went, but Hardik Pandya and Tilak Varma took MI closer. Hardik finished on an unbeaten 18 off 11 balls, while Naman Dhir hit the winning runs off Anukul as MI started their IPL 2026 in style.
Finn Allen brought his stellar form international cricket to the IPL. After facing five dot balls against Hardik, he went after MI debutant AM Ghazanfar, pumping him to the deep square fence and then spanking him for an 86-metre six over wide long-on. Another six capped off Ghazanfar’s opening over. Rahane then went after Hardik, thumping him for back-to-back sixes and Allen then got on strike and went 4, 4, 4. A monster 26-run over against Hardik helped KKR race past fifty in 3.5 overs, their fastest against MI in the IPL.
Shardul Thqkur, on MI debut, then brought his experience into play and sent back Allen who shoveled a slower length ball to long-off but Rahane carried on. He struck two fours off Thakur as KKR finished on 78 for 1 in six overs.
Two Mumbai boys on opposite ends were critical to their team’s cause. After removing Allen, Thakur sent back Cameron Green, whose innings lasted just ten balls and he then dismissed Rahane with a hard length delivery outside off that was mistimed to extra cover. At this point, KKR were still going at over ten an over but had lost steam, thanks to some terrific bowling from Bumrah, Trent Boult and Thakur.
Enter the other Mumbai boy, Raghuvanshi. He was on 17 off 14 at one stage but found a new lease of life after being dropped by Rohit at long-on. He closed out the 15th over with a four and six against Ghazanfar and then launched Thakur over long-on. Raghuvanshi added 60 off 30 balls with Rinku Singh for the fourth wicket, reaching his fifty off 28 balls as KKR raced past 200 in the 19th over.
Rinku struck unbeaten on 33 off 21 as KKR finished on 220 for 4 but it wasn’t enough.
Brief scores:
Mumbai Indians 221 for 4 in 19.1 overs (Ryan Rickelton 81, Rohit Sharma 78, Suryakumar Yadav 16, Tilak Varma 20, HardikPandya 18*; Vaibhav Arora 1-52, Kartik Tyagi 1-43, Sunil Narine 1-30) beat Kolkata Knight Riders 220 for 4 in 20 overs (Ajinkya Rahane 67, Finn Allen 37, Cameron Green 18, Angkrish Raghuvanshi 51, Rinku Singh 33*; Hardik Pandya 1-39, Shardul Thakur 3-39) by six wickets
[Cricinfo]
Oil prices have surged to their highest level in nearly two weeks amid escalation on multiple fronts of the US-Israel war on Iran.
Brent crude, the global benchmark, rose more than 3 percent on Monday morning to top $116 a barrel.
The latest climb took the global benchmark to its highest point since March 19, when it briefly touched $119 a barrel.
The surge came after Iran said it was prepared for a US ground invasion, with the speaker of the country’s parliament warning that Tehran was waiting for the arrival of US troops to “set them on fire” and “punish” their regional allies.
Tehran’s warning came as the conflict deepened over the weekend, with the Iranian-backed Houthis launching missiles at Israel for the first time in the war, and Israel expanding its invasion of southern Lebanon.
Asia’s main stock indexes fell sharply in morning trading, with Japan’s Nikkei 225 and South Korea’s KOSPI both down more than 4 percent as of 1:30 GMT.
Iran’s effective closure of the Strait of Hormuz in retaliation for the US-Israel war has disrupted about one-fifth of global oil and liquified natural gas (LNG) supplies, plunging the world into its biggest energy crisis in decades.
Oil prices have risen nearly 60 percent since the start of the war, driving up fuel prices worldwide and forcing numerous countries to adopt emergency measures to conserve energy.
Analysts have warned that oil prices are likely to keep rising unless maritime traffic returns to normal levels in the strait.
US President Donald Trump has threatened to “obliterate” Iran’s energy infrastructure if Tehran does not relinquish its stranglehold on the waterway by a deadline of April 6.
Trump, who on Thursday extended his deadline by 10 days, has proposed a 15-point plan for ending the war with Iran and insisted that the two sides are making progress towards a deal in indirect talks being mediated by Pakistan.
Tehran has flatly rejected Trump’s plan and proposed its own terms for a ceasefire, including war reparations and recognition of Iran’s right to control the strait.
Greg Newman, CEO of Onyx Capital Group, which began as an oil derivatives trading house, said energy consumers were only beginning to feel the true fallout of the turmoil.
“Physical oil moves around the world in loading cycles, and Europe has taken around three weeks to really start feeling the effects of the oil shortage,” Newman told Al Jazeera.
“Brent is starting to reflect the reality, and we think it’s a steady rise from here towards $120 and beyond.”
Newman said the scale of the disruption had yet to be fully appreciated.
“No one in the market has ever seen the outages we are now suffering from – physical premiums are the highest ever. There is still a sense that the macro world is not taking this seriously enough, but it is worse than anything that has come before it,” he said.
“The reality will come out in the economic numbers over the coming months.”
While Iran has been allowing a growing number of transits by ships that are not aligned with the US or Israel, traffic remains a fraction of pre-war levels.
On Saturday, Pakistani Minister of Foreign Affairs Ishaq Dar announced that Tehran had agreed to allow 20 Pakistani-flagged vessels to pass the strait in what he described as a “meaningful step toward peace”.
Malaysian Prime Minister Anwar Ibrahim said last week that Iran had granted an unspecified number of Malaysian vessels permission to clear the strait.
Seven non-Iranian vessels passed the strait on Thursday, up from five on Wednesday and four on Tuesday, according to maritime intelligence firm Windward.
Before the start of the war on February 28, the strait saw an average of 120 daily transits, according to Windward.
[Aljazeera]
Electricity tariffs to be increased from 1st April
A QR code system to be introduced for agricultural lands and other sectors requiring fuel
Rickelton, Rohit, Shardul break Mumbai’s first-game jinx
Oil tops $116 a barrel as Iran accuses US of preparing invasion
Iranian attack damages Kuwait power and desalination plant, kills worker
Warm weather conditions prevailing over the island are expected to continue
‘Dates have the highest sugar content to fight Coronavirus’
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