News
Opp. alleges Prez intends to bring media under his thumb, roll back election map

‘Broadcasting Authority a political mechanism led by Media Secretary’
By Shamindra Ferdinando
Top Opposition spokesman Prof. G. L. Peiris yesterday (05) alleged that President Ranil Wickremesinghe intended to silence television and radio stations through the proposed Broadcasting Authority Bill (BAB).
The former External Affairs Minister asserted that the BAB was part of a destructive political strategy meant to neutralise the media against the backdrop of the President’s bid to roll back the election map. He said so, referring to President Wickremesinghe’s recent declaration at the Bar Association event in Nuwara Eliya that the primary interest of the public was nothing but the revival of the economy. The UNP leader downplayed the importance of elections.
Addressing the media at the party office of Nidahasa Jathika Sabhawa, Prof. Peiris explained how the President planned to rein in free media through the five-member Broadcasting Authority Commission, and a three-member committee tasked with inquiring into complaints. The MP questioned the suitability of the President naming three persons to the Commission, in addition to appointing the Secretary to the Media Ministry who would be ex-officio head of the five-member Commission.
Urging the media to be vigilant of President Wickremesinghe’s game plan, rebel SLPP lawmaker said that the proposed committee would have the power to initiate inquiries on its own and conduct raids on ‘offending’ media institutions. The MP discussed the possibility of the committee taking hold of documents and other data in the hands of journalists while threatening them with imprisonment unless they revealed their sources.
Samagi Jana Balawegaya (SJB) and Opposition Leader Sajith Premadasa, in a separate statement, vowed to oppose the proposed Bill, both in Parliament and outside. MP Premadasa said that the decision-making body of the Opposition political parties, led by the SJB, resolved to campaign against the controversial Bill.
The first salvos against the Bill were fired by one-time Media Ministry Secretary Charitha Herath, and SJB stalwart Dr. Harsha de Silva last week. In response to their criticism, Justice Minister Dr. Wijeyadasa Rajapakse PC announced that they were still in the process of discussing proposals pertaining to the proposed Broadcasting Authority Bill.
Prof. Peiris emphasized that contrary to such claims the relevant Bill was in the public domain. The former minister said that there couldn’t be any doubt over whether the government would finalize the Bill and, if enacted, would automatically silence the media.
Describing the Bill as seriously flawed, Prof. Peiris questioned the competency of those who prepared it. It couldn’t have been done at the Legal Draftsman’s Department, the ex-minister said, alleging that responsibility had been outsourced.
Prof. Peiris said that the Supreme Court would be definitely moved against the proposed law. The academic said that the government was engaged in a desperate bid to consolidate its position. Comparing the Broadcasting Authority Bill with the Bill on the Central Bank of Sri Lanka, Prof. Peiris said that the former wouldn’t receive the go ahead from the Supreme Court. The proposed Bill as a whole was contrary to the Constitution, lawmaker Peiris said, asserting that democracy couldn’t survive the death of the media.
Referring to President Wickremesinghe’s speech to the National Law Conference at the Nuwara Eliya Grand Hotel, Prof. Peiris said that just because the UNP was in a pathetic state and couldn’t do well at elections, at any level, the UNP leader shouldn’t try to justify his bulldozing actions.
Prof. Peiris accused the President of putting off Local Government polls as he feared facing the electorate. The UNP is represented in Parliament by just one National List seat, earlier held by the President.
Business
Sri Lanka’s foreign reserves up by USD 2billion over the past year – Acting Finance Minister

Acting Finance Minister Ranjith Siyambalapitiya during a press conference held today (21) at the Presidential Media Center, focusing on the theme of ‘Collective Path to a Stable Country’ said that over the past year, the government successfully increased the country’s foreign reserves from 1.8 billion dollars to 3.8 billion dollars.
He added that in August 2022, the exchange rate stood at Rs. 361 per dollar, but by August 2023, one dollar could be acquired for Rs. 321. This shift is not the result of artificial control but rather a reflection of the rupee’s value adjusting in response to supply and demand for the dollar, which holds significant economic importance.
The interest rate for deposits, previously at 14% in 2022, has been lowered to 11%, while the loan interest rate, previously at 15.5%, has been reduced to 12% this year. Notably, last year, the primary account deficit was Rs. -247 billion, but this year it has turned into a surplus of Rs. 27 billion. This marks the first surplus in the primary account balance in over 40 years.
Tourist arrivals, which numbered 496,430 in 2022, have surged to 904,318 during the first two quarters of this year. Equally impressive is the growth in tourism earnings, which rose from 832.6 million US dollars in 2022 to 1,304.5 million US dollars in the first two quarters of this year, reflecting a remarkable 56.7% increase compared to the previous year.
In the past year, the amount of money remitted by Sri Lankans living abroad to Sri Lanka has surged from 2,214.8 million US dollars to 3,862.7 million US dollars this year, marking a remarkable 74.4% increase according to data from the Ministry of Finance.
On August 1, 2022, the QR code system was introduced as a measure to manage petroleum demand due to foreign exchange shortages. This led to a significant disparity between normal demand and supply, resulting in a notable increase in diesel consumption by 28% and petrol consumption by 83% in June 2023, when the QR system was partially relaxed. However, as of September 1, the QR code system, which directly impacts economic growth, has been completely lifted.
Upon assuming office, President Ranil Wickremesinghe faced a daunting challenge of addressing a 14-hour power outage, which had a direct impact on the economy. Presently, the government ensures a continuous and stable electricity supply to the population.
As of August 23, 2023, there were 1467 imported goods banned due to foreign exchange shortages. Currently, the ban applies to only 279 items. Furthermore, the import of vehicles, which had been halted in 2020, now includes buses and trucks for public transport.
In April 2022, the country faced difficulties in meeting its debt obligations. However, the government has since secured the first installment under the International Monetary Fund’s Extended Credit Scheme, contributing to stabilizing the country’s economy compared to the previous year.
(PMC)
News
President Wickremesinghe meets US President Joe Biden in New York

President Joe Biden of the United States and President Ranil Wickremesinghe engaged in a cordial meeting in New York on Thursday (20).
The high-profile meeting took place amidst a lavish dinner hosted by President Biden, for all the heads of state who had participated in the 78th session of the United Nations General Assembly.
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