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Rahman’s budget speech entirely devoted to condemning President’s speech as being communal

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By Saman Indrajith

SJB Colombo District MP Mujibur Rahman told Parliament on Friday that reconciliation and inter-communal harmony would remain a distant dream as long as the government from the top to bottom worried only about the interests of one particular race.

Participating in the second reading debate on the budget 2021 on Thursday, MP Rahman said President Gotabaya Rajapaksa in his address to the nation on Wednesday commenced his speech by categorically excluding other communities focusing only on the majority community. “That is wrong. When the President holding the highest office of the country sets such an example, then it is impossible as the very same attitude is percolating down to other posts and finally the entire government machinery to the exclusion of other communities,” the MP said.

Rahman said that creating ‘us’ and ‘them’ mindset would be detrimental to the efforts to bring about ethnic harmony and reconciliation. “The President’s speech was an address to the nation and not to a single community. After winning the election, he became the President of the entire nation not the President of a particular community. But the President at the beginning of his speech stated that he had been voted in by a particular community. That is wrong. None of the former Presidents did such a thing. When the address is to the nation, it includes all communities in this country. After the recent presidential elections in the US, Joe Biden said that hereafter there would be no red and blue states in the US but he had only a single nation. That should be the attitude of a president. President Rajapaksa in his policy manifesto ‘Saubhagyaye Dekma’ (Vision of Prosperity) promises communal harmony. But in his speech he excludes other communities.

MP Rahman said the backbenchers of the government rank shouted at him hurling abuses and calling names.

Badulla District SLPP MP Thisakutti Arachchi said that the President had, in his speech, thanked those who had voted for him; he asked what was wrong with it.

Kurunegala District SJB MP Thushara Indunil raising a point of order called on the chair to control the House and requested all unparliamentary words by the government MPs be expunged from the Hansard.

Presiding member Matara District MP Weerasumana Weerasinghe ordered that all unparliamentary words of the government MPs be expunged and added that MP Rahman was to speak about budget proposals but he addressing some other issues.

MP Rahuman: “Those new comers need some coaching on how to behave in Parliament. Learn to listen even if you cannot agree with what the person says. That is the first lesson in democracy. The President, on the one hand, speaks of curtailing extremism and racism and, on the other, he himself creates divisions. If he wants to take forward the Saubhagyaye Dekma and the economy of the country he should think in terms of a Sri Lankan identity.

Presiding member Matara District MP Weerasumana Weerasinghe warned MP Rahman to stick to the subject he should be speaking on so that he could control the House.



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Sri Lanka reaches in principle agreement for restructuring sovereign debt with external commercial creditors

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On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023).

These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of international investors, and the Local Consortium of Sri Lanka (“LCSL”), a representative group of domestic financial institutions. Collectively, the two groups hold in excess of 50% of the Bonds.

Under the agreements, holders of the Bonds will be consenting to a present value concession of 40.3% in the baseline scenario, calculated with a discount factor of 11%. The agreements provide Sri Lanka with enhanced debt relief compared to the Joint Working Framework agreed in July 2024, including a further reduction in interest payments provided in the new agreement.

Sri Lanka also announced that it has finalized agreement in principle with China Development Bank (“CDB”) on the key financial terms of the restructuring of approximately US$ 3.3bn of sovereign debt.

As a result of the agreements already achieved with Eximbank of China and members of Sri Lanka’s Official Creditor Committee (“OCC”) as well as CDB and bondholders, Sri Lanka will have obtained over USD 17bn of debt service relief during the IMF program period (around USD 2.4bn from Eximbank of China, USD 2.9bn from the OCC, USD 2.5bn from CDB and USD 9.5bn from the bondholders).

His Excellency the President expressed his deep appreciation for all of Sri Lanka’s creditors who engaged in good faith throughout this process, and also for the International Monetary Fund and the OCC Secretariat for the continuous and constructive support.

The official announcement is available at: https://links.sgx.com/FileOpen/Sri%20Lanka%20%20Announcement%20of%20Agreement%20in%20Principle%20-%2019_09_2024.ashx?App=Announcement&FileID=819175

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National Security Council reviews security measures for 2024 presidential election

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The National Security Council convened this morning (19) at the Presidential Secretariat, chaired by President Ranil Wickremesinghe, to discuss security arrangements for the upcoming 2024 presidential election.

The council focused on ensuring the election is conducted independently and fairly, with full support pledged to the Election Commission to maintain law and order.

Key discussions included safeguarding candidates, securing polling centres, and upholding security at polling stations.

Additionally, President Wickremesinghe directed security agency heads to take all necessary steps to maintain peace and stability in the country during the post-election period, ensuring minimal disruption to the daily lives of citizens.

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D.B. Welagedara Central College Kurunegala receives modern library

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A fully equipped modern library funded by the Chinese Embassy in Sri Lanka was officially handed over to D.B. Welagedara Central College Kurunegala by the President’s Secretary, Mr. Saman Ekanayake.yesterday (18),

 

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