News
Opposition MPs, former Speaker urge govt. to have debt resheduled
LSSP endorses collective repsonse
Ranil, Harini notable absentees at signing
Heads of COPE, COPF present but refrain from signing
MPs from five political parties and former Speaker Karu Jayasuriya have issued a joint statement urging the government to take immediate action to solve the economic crisis affecting Sri Lanka.
The current MPs and the former Speaker “recognizing the unprecedented nature of the economic challenges facing us” have sought “urgent, constructive, and sustainable solutions” to the pressing situation.
The joint statement was signed by the Leader of the Opposition Sajith Premadasa, MPs R. Sampanthan, MA Sumanthiran, Shanakkiyan Rasamanikkam for Tamil National Alliance (TNA), Kabir Hashim, Dr. Harsha de Silva, Rishad Bathiudeen and Eran Wickramaratne of the SJB, MP Rauf Hakeem for SLMC and MP Mano Ganesan, for the TPA. SLPP MP Prof. Tissa Vitarana on behalf of the Lanka Sama Samaja Party and former Speaker Karu Jayasuriya, Chairman of the National Movement for a Just Society have also signed the joint statement.
Full text of the statement titled ‘A collective response to our economic crisis’ said: “We the undersigned, recognising the unprecedented nature of the economic challenges facing us, seek urgent, constructive, and sustainable solutions to this pressing situation.
We note that:
(1) The country’s ratings have fallen to the level of being blacklisted In international credit markets. Since April 2020, Sri Lanka has been locked out of borrowing using International Sovereign Bonds (ISBs) in the international market,
(2) Repaying US dollar debt in this context means that the usable foreign reserves are down to below one month of imports — the lowest on record since independence.
(3) The ratio of interest on debt to government revenue was above 70% in 2020, a historical high for Sri Lanka, and amongst the highest in the world.
(4) The ratio of public debt compared to the value of Sri Lanka’s domestic production (GDP) is also the highest on record, at 120%. It skyrocketed, by almost 25 percentage points, in the last two years. Each of these situations by themselves would spell a serious economic challenge.
Occurring simultaneously, this pressing and historic economic crisis is threatening our future, in both the short term and long term.
We recognize that undoubtedly the government has a daunting task ahead, and as a country there is a need for us all to come together to overcome this challenge.
We acknowledge that Sri Lanka should take immediate measures to ensure strong social welfare for its people so that the poor and vulnerable communities are protected from the adverse impact of this economic crisis.
We further acknowledge the need for sound reform to the national economic policy that will address the root causes for this situation and ensure sustainable solutions to steer the country out of this unprecedented economic crisis, and forge an equitable and just solution for our future generations.
We are fully cognizant that Parliament has full control of public finance, and that each member of parliament has a fiduciary responsibility to ensure the proper management of public finances in Sri Lanka.
In such a context, we recognize the best way forward for Sri Lanka is to immediately Initiate a multi-step process towards an orderly negotiated postponement and restructure of repayment of its sovereign debt. Sri Lanka can then correct its policies towards a path of sustainable economic growth and debt management, while also ensuring access to essential needs and goods for the Sri Lankan economy and its people. This will reduce the pain and hardship that is currently experienced due to the shortage of foreign currency. In any path forward, it is essential that the government takes measures to consider the difficulties of the poorest and the most vulnerable people in the country and provide them with adequate social security, protection, and relief.”
News
Senior citizens above 70 years to receive March allowances on Thursday (26)
The Welfare Benefits Board has announced that the March allowance for senior citizens over 70 years of age will be credited to each beneficiaries account on Thursday (26th).
693,801 senior citizens over the age of 70 years are set to benifit under this welfare scheme
News
CEB Engineers warn public to be prepared for power cuts after New Year
A looming power crisis is casting an ominous shadow over the country, with engineers warning that the current “no power cut” situation may not last beyond the Sinhala and Tamil New Year due to worsening diesel shortages and ongoing coal-related disruptions.
A senior electrical engineer, attached to the Ceylon Electricity Board Engineers Union, cautioned that while authorities appear to be managing the system for now, the underlying fuel constraints are reaching a critical point.
He told The Island: “At the moment, there are no scheduled power cuts across the country. But this is being maintained under significant strain. With the diesel shortage and unresolved coal issues, sustaining uninterrupted supply, beyond the New Year period, will be extremely challenging.”
The engineer noted that thermal power generation — particularly diesel-based plants — has become increasingly difficult to sustain due to limited fuel stocks and logistical bottlenecks. At the same time, the substandard quality coal supply issues that have plagued recent shipments continue to undermine the efficiency of base-load generation.
“We are stretching available resources to avoid immediate outages. owever, unless there is a rapid improvement in fuel availability, the system will be forced into load shedding soon after the New Year,” he warned.
According to him, authorities are likely to delay any scheduled outages until after the festive season to avoid public backlash and economic disruption during a traditionally sensitive period.
“Most probably, they will try to continue like this until the New Year. But after that, daytime or peak-time load shedding becomes almost inevitable if the situation remains unchanged,” he added.
Energy analysts say the warning reflects a deeper structural vulnerability within the power sector, where over-reliance on imported fossil fuels — particularly diesel and coal — continues to expose the system to external shocks and procurement failures.
The recent use of substandard coal has already resulted in reduced generation capacity at the country’s sole coal power plant at Norochcholai, compounding the pressure on thermal plants to bridge the shortfall. Engineers say this has forced operators to depend more heavily on costly diesel generation — an option now constrained by supply shortages.
Industry sources indicate that demand is also on the rise, particularly during night peak hours, possibly driven by increased reliance on electricity for cooking, amid gas shortages, further tightening the supply-demand balance.
Despite the absence of official announcements, insiders suggest contingency planning for load shedding is already underway.
“If the fuel situation does not improve within the next few weeks, controlled power cuts will be the only viable option to protect the grid from a total system failure,” the engineer stressed.
The warning comes at a time when the country is attempting to maintain economic stability following successive crises, with uninterrupted power supply considered critical for industry, commerce, and daily life.
However, unless urgent corrective measures are taken to secure reliable fuel supplies and stabilise generation capacity, the return of power cuts — including during daytime hours — appears increasingly unavoidable, an expert said.
By Ifham Nizam
News
Japanese boost to Sri J’pura Hospital, an outright gift from Tokyo during JRJ rule
Japanese Ambassador to Colombo, Akio Isomata, on 24 March, handed over the newly established dental unit and 4D Angio CT suite at Sri Jayewardenepura General Hospital. Health Minister Dr. Nalinda Jayatissa and other senior officials from the Ministry of Health and the hospital attended the event.
Highlighting the strong partnership between Japan and Sri Lanka in the health sector, the Embassy issued the following press release yesterday: “This handover marks the second phase of the project, following the initial provision of ophthalmic equipment in December 2023. The current phase represents a significant milestone, featuring the introduction of a state-of-the-art CT Angiography system – the first of its kind in South Asia – as well as dental units. These contributions are expected to enhance Sri Lanka’s capacity to address non-communicable diseases (NCDs), including cancer, stroke, and diabetes, thereby saving lives, reducing long-term complications, and improving the quality of life of patients.
The CT Angiography system integrates CT scanning and angiography functions, enabling highly accurate and timely diagnosis and treatment. It is expected to further strengthen the hospital’s role as a key medical hub in Sri Lanka and the wider region.
In addition, the provision of 10 dental units will support the establishment and enhancement of dental services at the hospital. In Japan, oral health is considered closely linked to overall health and plays an important role in extending healthy life expectancy. This support is, therefore, also expected to contribute to the promotion of preventive healthcare in Sri Lanka.
The Sri Jayewardenepura General Hospital was constructed in 1984 with grant assistance from the Government of Japan. The well-known “1001-bed” story—originating from former President J.R. Jayewardene’s remark to add one more bed to the originally planned 1,000—remains a memorable episode reflecting the history of this cooperation.
Japan has consistently supported Sri Lanka’s health sector over the decades, including the development of medical facilities, strengthening of blood supply systems, and support during the COVID-19 pandemic through vaccine delivery assistance. Furthermore, during Sri Lanka’s recent economic crisis, Japan provided fuel essential for maintaining healthcare services, and in times of natural disasters, dispatched emergency medical teams to deliver urgent care. These efforts demonstrate Japan’s continued commitment to standing by Sri Lanka, especially in times of need. These efforts reflect Japan’s commitment to “investment in people” and “human security,” supporting a healthcare system in which all individuals can live healthy and dignified lives.

Japanese Ambassador Isomata with Minister Dr Jayatissa and officials (pic courtesy Japanese Embassy)
Ambassador Isomata remarked, “This support is not merely for the provision of equipment, but also for the consolidation of the foundation for safeguarding lives and livelihoods. Sri Jayewardenepura General Hospital, built with the support of Japan, stands as a symbol of the longstanding friendship between our two countries. We sincerely hope that this project will contribute to building a sustainable healthcare system that benefits future generations in the field of medicine and further strengthen our partnership.”
Minister Jayatissa highlighted,” This is not just a donation of machines. It is an investment in the lives and futures of our patients. By establishing this modern dental unit, we are addressing a critical need in the prevention and treatment of oral diseases for our population. I wish to express our deepest gratitude to the Government and people of Japan for this generous assistance. These are acts of true friendship, and the people of Sri Lanka will always remember them with gratitude.”
Japan will continue to work closely with Sri Lanka to further strengthen the healthcare sector and deepen the longstanding friendship between the two countries.”
-
Features3 days agoTrincomalee oil tank farm: An engineering marvel
-
News7 days agoBailey Bridge inaugurated at Chilaw
-
News6 days agoCIABOC tells court Kapila gave Rs 60 mn to MR and Rs. 20 mn to Priyankara
-
News7 days agoPay hike demand: CEB workers climb down from 40 % to 15–20%
-
Features6 days agoScience and diplomacy in a changing world
-
Features3 days agoThe scientist who was finally heard
-
News5 days agoColombo, Oslo steps up efforts to strengthen bilateral cooperation in key environmental priority areas
-
News24 hours agoJapanese boost to Sri J’pura Hospital, an outright gift from Tokyo during JRJ rule
