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`People swept away by economic tsunami’ -Eran

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The main opposition SJB says that Sri Lanka is the only country in the world that has faced unprecedented price increases of essential commodities such as gas and fuel.

Addressing the media at the SJB office in Kirulapone, SJB MP Eran Wickramaratne on Sunday said that during the same period Sri Lanka degenerated into a dangerous situation with regard to its foreign exchange reserves.

Wickramaratne said even the countries in the Asian region had recorded a positive GDP growth, FDI and foreign reserves.

Before the start of the press conference, Wickramaratne observed a two-minute silence in remembrance of the tsunami victims, where over 35,000 Sri Lankans were killed 17 years ago on Boxing Day 2004.

Wickramaratne said that Sri Lankans were looking for solutions brought forward by an individual, a President, which had been greatly disappointing. As a result, the country had plunged into an Economic disaster through autocratic policies and family rule.

“In a society problems are complex and there are no easy solutions. There is a need for a wise leader who should have the support of a team who are honest and have proven expertise and experience in governance and economic management. People’s belief in an individual’s ability to steer the nation has ended in disarray ushering autocratic family rule. Higher officials take no responsibility for decision-making as their views and opinions are often disregarded.”

“Because of this family rule, the higher officials say they were not part of the decision-making process even though they were present at such discussions. Even the Cabinet of Ministers claims that they were not aware of Cabinet decisions, even though the Cabinet secretary has publicised those decisions. It proves the decisions are taken by a closed coterie, and the ministers have become just on-lookers. Recently, the Agricultural Ministry Secretary, who is an agricultural scientist, was removed from his position as he warned of the possibility of starvation due to the decision not to import chemical fertiliser. The Secretary had pointed out that it was due to ill advice and a dead rope given to the President by people who did not know the subject,” the former banker turned politician said.

Elaborating further, the MP explained that the promotion of myths and lies made people believe in an individual or family being able to rescue the nation. Speaking on corruption that had engulfed the country, he pointed out that millions of dollars had been paid for unseen aircraft and unseen fertiliser.

He said that Sri Lanka was an exception where revenue from exports, foreign direct investment had gone down due to economic mismanagement rather than the Covid pandemic. Almost all countries were affected by the pandemic, but not a single country was as badly affected as Sri Lanka, because of better economic management in those countries.

“The people of this country are being swept away by the economic tsunami just as they were swept away by the tsunami in 2004,” he said.

The MP referred to the irrational management of the exchange rate and forcing Sri Lankan workers overseas to convert their Dollar remittances at banks at Rs 200 per Dollar while the gray market was over Rs 250 per Dollar. The overvalued Sri Lankan Rupee logically encourages exporters to under invoice their exports in Dollars. Poor exchange rate management has caused foreign reserves to plunge to dangerously low levels.

Over 1.5 trillion Rupees of money printing by the Central Bank has been the main contributory factor pushing inflation into double digits within a short period. The average inflation rate of 2014-2019 of 3.5% has shot up to an average inflation rate of over 10% in 2019-2021. The inflation rate in November has exceeded 11%, Wickramaratne said.



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Committees with accountable district-level officials to be appointed to resolve Human-Elephant Conflict

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President Anura Kumara Disanayake instructed relevant officials to swiftly implement a formal mechanism to resolve the human-elephant conflict, which significantly impacts both the rural economy and people’s lives.

The President issued these directives during a discussion on resolving the human-elephant conflict, held this  (20) afternoon at the Presidential Secretariat.

During the discussion, particular attention was paid to the districts most affected by the human-elephant conflict, including Anuradhapura, Puttalam, Polonnaruwa, Ampara, Hambantota, Monaragala, Kurunegala, Badulla and Trincomalee. The respective District Secretaries presented the specific issues in their districts to the President.

Discussions also covered existing vacancies within the Department of Wildlife, vehicle requirements and the challenges faced in carrying out their duties.

The President emphasised the need to streamline the mechanism for resolving the human-elephant conflict and highlighted the importance of implementing this programme in close collaboration with the public.

Accordingly, the President instructed that committees comprising accountable officials from the relevant districts be appointed within the next month to carry out these activities.

The President also directed that retired officers be recruited on a contract basis to fill current vacancies in the Department of Wildlife. As an immediate measure, he instructed officials to assign Civil Security Department officers to the Department of Wildlife with specific training and to enact relevant legislation for this purpose.

Furthermore, the President instructed that the ongoing joint operations by the Police, other security forces and the Department of Wildlife to resolve the human-elephant conflict be made more systematic and efficient.

The event was attended by Professor Chandana Abeyrathne, Minister of Public Administration, Provincial Councils and Local Government; Ananda Wijepala, Minister of Public Security and Parliamentary Affairs; T.B. Sarath, Deputy Minister of Housing; Aruna Jayasekara, Deputy Minister of Defence; Dr. Nandika Sanath Kumanayake, Secretary to the President; Ranjan Marasinghe, Director General of Wildlife; Major General Lasantha Rodrigo, Army Commander; Priyantha Weerasuriya, Acting Inspector General of Police; as well as District Secretaries and other government officials.

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Students from Thambuttegama Central College visit President’s House

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A group of students from Thambuttegama Central College, Anuradhapura, visited the Presidential Secretariat and President’s House this (20) afternoon  during their annual educational tour.

The students had the opportunity to participate in the ‘Vision’ programme, an initiative for schoolchildren jointly organised by the Presidential Secretariat, the Ministry of Education, and the Department of Communication of the Parliament of Sri Lanka.

After touring the Old Parliament building within the Presidential Secretariat, the students were also briefed on parliamentary history.

The college’s teaching staff and students were also informed about the ‘Clean Sri Lanka’ programme, which operates under a concept by President Anura Kumara Disanayake, as well as the role of the executive and the rule of law.

During the visit, the Legal Advisor to the President J.M. Wijebandara symbolically demonstrated the value of environmental protection by presenting a valuable sapling to the school.

The event was attended by Senior Additional Secretary to the President K.N.M. Kumarasinghe, Deputy Director of the Tri-Forces Security Affairs Coordinating Unit Colonel Dhananjaya Senarath, Deputy Principal of Thambuttegama Central College M.G. Asanka Wijesuriya, along with teaching staff and other officials.

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Foreign Direct Investment records 90% Increase in First Quarter of 2025

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The Board of Investment (BOI) of Sri Lanka has successfully increased Foreign Direct Investment (FDI) by US$96 million in the first quarter of 2025, compared with the same period in 2024.

This was disclosed today (20) during a progress review meeting of the Board of Investment of Sri Lanka, chaired by President Anura Kumara Disanayake at the Presidential Secretariat.

BOI officials also noted that, relative to the first quarter of 2024, domestic investment rose by US$21 million, while export income increased by US$176 million during the first quarter of 2025. In total, Sri Lanka has attracted US$4,669 million in investment proposals thus far in 2025.

The meeting also focused on the issues and challenges associated with attracting investment to the country and discussed potential strategies to address them.
Addressing the gathering, President Anura Kumara Disanayake stated that the Board of Investment holds a pivotal role in enhancing the national economy and improving the living standards of the rural population.

He stressed that opportunities to attract investment in traditional sectors are becoming increasingly limited and therefore the nation must identify new areas for investment, an endeavour that falls under the BOI’s mandate.

The President further noted that Sri Lanka has attracted only around US$22 billion in investment since 1978. In comparison to other countries in the region, he stated, Sri Lanka must advance rapidly, referencing Vietnam’s achievement of securing US$23 billion in investment in 2022 alone.

He went on to state that the BOI should prioritise the expansion of investment in the services sector and proactively seek new investment opportunities, rather than focusing solely on recapturing missed ones.

The event was attended by senior officials of the Board of Investment, including  Duminda Hulangamuwa, Senior Advisor to the President on Economic Affairs;  Arjuna Herath, Chairman of the Board of Investment; and Ms Renuka Weerakone, Acting Director General of the Board of Investment.

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