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Probe into country’s bankruptcy: Ex-COPE Chief going ahead with own inquiry

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‘PSC appointed by Speaker irrelevant’

By Shamindra Ferdinando

Rebel SLPP lawmaker and former Chairman of Committee on Public Enterprises (COPE) Prof. Charitha Herath, on Tuesday (11) declared that he would lead a thorough inquiry into the economic crisis, regardless of the probe announced by SJB leader Sajith Premadasa.

Pointing out that the Parliamentary Select Committee (PSC), headed by SLPP General Secretary Sagara Kariyawasam that had been appointed by Speaker Mahinda Yapa Abeywardena to investigate the crisis didn’t find favour with the Opposition, Prof. Herath vowed to finalise his inquiry within three months. As stressed by Opposition Leader Sajith Premadasa at a meeting with senior party representatives, the Opposition could go ahead with its investigation, Prof. Herath said.

The PSC named by Speaker Abeywardena consisted of SLPP MPs Sagara Kariyawasam, Pavithra Devi Wanniarachchi, D.V. Chanaka, Mahindananda Aluthgamage, Jayantha Ketagoda, Pradeep Undugoda, Sanjeewa Edirimanna, Nalaka Bandara Kottegoda and Prof. Ranjith Bandara, Samagi Jana Balawegaya (SJB) MPs Eran Wickramaratne, Ashok Abeysinghe and Harshana Rajakaruna, National People’s Power (NPP) MP Vijitha Herath, and Tamil National Alliance (TNA) MP Shanakiyan Rasamanickam.

Addressing the media at Nidahasa Janatha Sabhawa Office, at Nawala, Prof. Herath explained the need to investigate the period from 2010 with the focus on the Mahinda Rajapaksa government (2010-2014), the Maithripala Sirisena-Ranil Wickremesinghe administration (2015-2019) and the Gotabaya Rajapaksa administration (2019-April 2022).

Prof. Herath said that Speaker Abeywardena ridiculed Parliament by naming a PSC that only represented the interests of the SLPP. Therefore, the Opposition had no option but to quit that PSC, thereby rendering it useless, Prof. Herath said.

The new entrant to parliament told The Island as the Chairman of the parliamentary watchdog committee COPE that called for the setting up of a PSC in early July last year to investigate the economic crisis, he strongly felt the country couldn’t move an inch until those responsible for economic ruin were identified.

Herath said his inquiry would pay special attention to Sri Lanka’s entry into the Sovereign Bond market in 2008, the year before the armed forces brought the war against the LTTE to a successful conclusion.

The MP explained that he intended to investigate the allegations directed at the Mahinda Rajapaksa administration that the country suffered as a result of imprudent investments on major infrastructure projects. President Mahinda Rajapaksa also served as the finance minister during that period.

The focus of the Yahapalana administration would be on record Sovereign bonds worth USD 12.5 bn taken during that period. Of USD 16 bn, yahapalana rulers took USD 12.5 bn within five years, the MP said. The current main Opposition SJB had been part of the Yahapalana administration.

According to the former COPE Chief, the basis for the inquiry on Gotabaya Rajapaksa’s administration would be the Special Audit report on financial management and public debt control in Sri Lanka (2018-2022).



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Delay in govt. response to UK sanctions on ex-military chiefs, and others causes concern

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General Silva / Admiral Karannagoda

Admiral of the Fleet Wasantha Karannagoda said that he is still waiting for the government’s response to the UK sanctions imposed on three ex-military officers, including him, and a former member of the LTTE.

The former Navy Chief said so in response to The Island query whether he was aware of the position taken by a three-member ministerial committee, consisting of Foreign Minister Vijitha Herath, Justice and National Integration Minister Harshana Nanayakkara and Deputy Defence Minister Maj. Gen (retd) Aruna Jayasekera.

The government named the committee in the wake of the UK declaration of travel bans and asset freezes in respect of Karannagoda, General Shavendra Silva, General Jagath Jayasuriya and Vinayagamoorthy Muralitharan, also known as Karuna. Maj. Gen. Jayasekera said that they inquired into the issue at hand.

Karannnagoda said that he would like to know the government’s recommendations if the ministerial committee briefed the Cabinet as per a decision taken by the Cabinet of Ministers. Karannagoda said that the issue should have been taken at the highest level as various interested parties continue to humiliate the war-winning military by targeting selected individuals.

Other sources, familiar with the issues at hand, told The Island that the government was yet to announce its stand.

Sources pointed out that the Opposition has been silent on what they called a matter of utmost national importance.

Cabinet spokesman Dr. Nalinda Jayathissa is on record as having described the UK move as a unilateral move and that committee was formed to examine the developments and recommend appropriate measures to the Cabinet.

Foreign Minister Herath told The Island the government was not successful in getting the British to withdraw sanctions. Describing the UK decision as unilateral, the Miniser said that the government conveyed its concerns but the UK didn’t change its stand.

The Island raised the issue with Minister Herath and Admiral Karannagoda in the wake of British MP of Sri Lankan origin, Uma Kumaran requesting the UK Foreign Secretary Yvette Cooper to expand on the government’s sanctions imposed on the four above-mentioned persons.

During a Foreign Affairs Committee meeting on 16 December, the MP for Stratford and Bow highlighted the lack of accountability and political will from the current Sri Lankan government to address war crimes and mass atrocities committed in Sri Lanka.

Sources said that David Lammy, who served as Secretary of State for Foreign, Commonwealth and Development Affairs at the time of the declaration of sanctions, had no qualms in declaring that the action taken against four Sri Lankans was in line with a commitment he made during the election campaign to ensure those responsible wouldn’t be allowed impunity. The UK government statement quoted Lammy as having said that this decision ensured that those responsible for past human rights violations and abuses were held accountable.

By Shamindra Ferdinando

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Sri Lanka outlines seven key vectors of international cooperation at Moscow forum

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Shobini

Sri Lankan Ambassador to the Russian Federation, Shobini Gunasekera recently presented a conceptual framework of seven key vectors that defined contemporary international relations and facilitated dialogue among States. She made the presentation at XI Moscow International Financial and Economic Forum held under the theme “Building Bridges: Partnership without Borders”.

In her address, the Ambassador emphasised that these vectors represent the channels through which ideas circulate, trade expands, and peace is strengthened, serving as guiding principles for cooperation amid global uncertainties. The seven key vectors highlighted were economic ties as a foundation for long-term stability; political choice and diplomacy through dialogue and multilateral engagement; security cooperation to address cross-border threats; cultural linkages through education, tourism, and professional exchanges; technological advancement, particularly in digital systems and artificial intelligence; environmental stewardship through collective action on renewable energy and climate change; and humanitarian obligations, including disaster relief and development cooperation.

 Drawing on Sri Lanka’s experience, the Ambassador illustrated the practical application of these principles by highlighting the country’s strategic location in the Indian Ocean, its role as a trade and logistics hub, and its active engagement in regional groupings such as BIMSTEC and the Indian Ocean Rim Association, where the Russian Federation serves as a Dialogue Partner.

 The potential for enhanced Sri Lanka–Russia bilateral cooperation was underscored, particularly through complementarities between Russia’s technological and energy expertise and Sri Lanka’s logistical capabilities and maritime infrastructure. She noted that such synergies could support joint initiatives in trade, innovation, tourism, and logistics, while cultural and scientific exchanges would further strengthen mutual understanding between the two countries.

Concluding her remarks, the Ambassador stated that sustained progress requires dialogue, mutual respect, and forward-looking partnerships capable of shaping a shared and stable future.

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Sri Lanka third most preferred destination for Indians

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Thailand takes top place

Travel website Make My Trip has named Sri Lanka as the third most booked international destination by Indian travellers for the festive period, following Thailand and the United Arab Emirates (UAE).

According to a report released by MakeMyTrip, an analysis of booking trends between 20 December and January 2026 compared to the same period last year, highlighted a growing interest in Sri Lanka as a preferred destination.

Thailand ranked first, while the UAE secured second place. Vietnam recorded a notable rise, moving from seventh position last year to fourth this year, followed by Malaysia, Indonesia, Singapore, the UK, the US, and Hong Kong.

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