Revelations by Sabry, Nandalal cited; CIABOC asked to investigate

Prime Minister Ranil Wickremesinghe has been named the first responded in a fundamental rights case filed by Dr. Athula Kumara Samarakoon of the Open University, Sri Lanka, Soosaiappu Neavis Morais and Dr. Mahim Mendis, in connection with the wrong policies which led to the current economic meltdown.The application filed in terms of the Articles 17 and 126 of the Constitution named the entire Cabinet of Ministers, including former PM Mahinda Rajapaksa and Basil Rajapaksa and Ali Sabry, PC. Among others named are former presidential secretary Dr. P.B. Jayasundera, ex-CBSL Governors, Prof. W.D. Lakshman and Ajith Nivard Cabraal and ex-Treasury Secretary S.R. Attygalle.

Members of the CIABOC (Commission to Investigate Allegations of Bribery or Corruption), too, have been made respondents; the petitioners have in a letter, asked the CIABOC members to investigate the mismanagement of the economy by former members of the Monetary in violation of Section 70 of the Bribery Act as well as lawmakers Mahinda Rajapaksa and Basil Rajapaksa.The petition cited the controversial decision taken to reduce a range of taxes in terms of SLPP presidential election candidate Gotabaya Rajapaksa’s manifesto titled, ‘Vistas of Prosperity’ as one of the major causes of the current crisis.

The petitioners have stated that as at April 2022, the price of essential goods had increased from the previous year as follows: (a) The price of Petrol increased by 85%;, (b) The price of Diesel increased by 69%;, (c) The price of a cylinder of Liquid Petroleum Gas increased by 84%;, (d) The price of turmeric increased by 443%;, (e) The price of bread increased by 433%;, (f) The price of rice increased by 93%; and (g) The price of dhal had increased by 171%

The petitioners have adduced incumbent CBSL Governor Dr. Nandalal Weerasinghe’s statement before the Committee on Public Enterprises (COPE) on 25 May in support of their argument. Dr. Weerasinghe was quoted as having told COPE that the government lacked foreign currency reserves to pay its foreign debt or buy essential imports, and the assistance of the International Monetary Fund and foreign nations was required.

Petitioners have also quoted statements made by ex-Finance Minister Sabry to underscore the crisis created by what they call the wrong policies of the then government. They cited President Rajapaksa’s unilateral decision to prohibit the use of chemical fertilizer and agrochemicals as another reason for the crisis.Issues such as the government using foreign reserves to prevent the depreciation of the rupee have also been raised by the petitioners. Statements made by Dr. Ranee Jayamaha and Sanjeeva Jayawardena PC, two appointed members of the Monetary Board, before the COPE were also cited in support of the petition. They were quoted as having said that they received instructions to use dollar reserves to hold the rupee as Rs. 203 in spite of their strong objections (SF)