News
Response to economic revival plan pathetic: Harsha disappointed
By Shamindra Ferdinando
SJB MP Dr. Harsha de Silva yesterday said that he was quite disappointed that his economic revival plan, or common minimum programme, presented in parliament on 12 August hadn’t received the anticipated response from political parties, represented in Parliament.
The Colombo District lawmaker said so when The Island asked him whether political parties and President Ranil Wickremesinghe reacted to his plan. The lawmaker said that he was not angry but appalled at the way the political parties responded to the deepening economic crisis.
Responding to another query, MP de Silva said that he had the backing of his party though there were some differences of opinion on some matters. Lawmaker de Silva said that he was ready to discuss the overall plan with those represented in parliament and other stakeholders. The MP emphasized that so far, the government had not presented a roadmap for economic revival.
Addressing the parliament, MP de Silva urged leaders of all political parties represented there to support his proposals. The former UNP State Minister declared that his plan could secure the confidence and support of the public and external entities as well.
The set of proposals has been ratified by the Economic Policy Unit comprising lawmakers Dr. Harsha de Silva, Eran Wickramaratne and Kabir Hashim. It has been endorsed by SJB leader Sajith Premadasa.
The blueprint dealt with (1) debt crisis management (2) monetary and exchange rate policy (3) revenue consolidation (4) expenditure control (5) public sector management (6) energy and utilities reform (7) trade, agriculture, industry and service promotion (8) factor market reform (9) stronger social safety nets and (10) transparency and accountability.
The MP pointed out that though Sri Lanka received USD 4 bn Indian assistance via credit lines, currency swaps etc., this year, ongoing talks with Japan, China, Middle East countries and Russia hadn’t produced the desired results. Declaring that the country was in dire straits, MP de Silva questioned the inordinate delay on the part of the government seeking a consensus on an economic recovery plan.
Referring to emergency assistance provided by the US, Australia and EU, Dr. de Silva said that the much-needed Rapid Financing Instrument (RFI) couldn’t be secured until the government achieved significant progress in what he called debt restructuring talks. Asserting that Sri Lanka couldn’t do without short-term bridging financing from friendly countries such as credit lines for imports, foreign currency swaps or barter trade, Dr.de Silva said that privatization, too, was an option. However, the MP warned against privatization sans proper procedures. The consequences would be catastrophic, the lawmaker added.
Recently, dissident SLPP MP Dr. Nalaka Godahewa accused the government of planning to privatize Sri Lanka Insurance Corporation (SLIC) and Sri Lanka Telecom (SLT). One-time private sector executive alleged the government exploited the current financial turmoil to sell off profit making enterprises. Dr. Godahewa told The Island that there was broad consensus on the need to restructure loss-making state enterprises but the government seemed to be bent on selling off valuable assets.
Pointing out that Sri Lanka was the only country in Asia to default on foreign debt in half a century, MP de Silva emphasized that unbridled corruption contributed to the deterioration of the national economy over the past several decades to such an extent finally the Governor of the Central Bank Dr. Nandalal Weerasinghe acknowledged Sri Lanka’s inability to service its foreign debt.
The former UNPer called for the enactment of strong anti-corruption legislation and the implementation of the United Nations Convention against Corruption.
Dr. de Silva recently received appointment as Chairman of the Committee on Public Finance (COPF), one of the three parliamentary watchdog committees meant to ensure financial integrity in the public sector. The top SJB official succeeded Kurunegala district SLPP MP Anura Priyadarshana Yapa.
News
Maldives Coast Guard Ship Huravee departs island
The Maldives Coast Guard Ship Huravee which arrived in Sri Lanka for replenishment purposes, departed the island on 04 Mar 26.
In accordance with naval tradition, the Sri Lanka Navy extended a customary farewell to the departing ship at the Port of Colombo
News
‘IRIS Dena was Indian Navy guest, hit without warning’, Iran warns US of bitter regret
A day after a US submarine sunk an Iranian Navy warship off the coast of Sri Lanka, the Foreign Minister of Iran, Sayed Abbas Araghchi, has warned that the US would “pay bitterly” for targeting a ship in international waters, The Tribune has reported.
Araghchi posted on social media platform X on Thursday saying, “The US has perpetrated an atrocity at sea, 2,000 miles away from Iran’s shores.”
The frigate IRIS Dena, a guest of India’s Navy carrying almost 130 sailors, was struck in international waters without warning, said the Iran Foreign Minister, adding, “Mark my words: The US will come to bitterly regret the precedent it has set.”
US Secretary of War, Pete Hegseth, on Wednesday confirmed that a US submarine fired a torpedo and sank the Iranian Navy vessel IRIS Dena west of Sri Lanka.
In a way, the Iran and US-Israel conflict has reached close to the Indian coast. The strike today at sea was almost 4,000 kms away from Iran, significantly expanding the radius of war. Already, fearing Iranian missile strikes, several US warships have moved eastward towards India.
These ships are in international waters. India has denied that any US Navy assets were using Indian ports. The Iranian ship, hit on Wednesday, was returning after participating in the international fleet review and exercise Milan hosted by India at Visakhapatnam.
The Iranian ship went down with almost 130 sailors on board missing. The Sri Lankan Navy, acting on a distress call, rescued 32 of the Iranian sailors. Hegseth confirmed the act by the US forces, saying the ship was hit in the Indian Ocean, stating, “an Iranian warship that thought it was safe in international waters. .. Instead, it was sunk by a torpedo”.
Hegseth did not name the Iranian ship that was attacked. But earlier, the Sri Lankan Navy reported the distress call from IRIS Dena when it was some 40 kms west of Galle, located on the south-western part of the island country. On February 16, the Iranian ship had sailed into the port of Visakhapatnam, where seventy-four nations participated.
Warships from Australia, Japan, South Korea, Russia, and dozens of others were anchored alongside the now-sunk Iranian vessel. Iran’s Navy Commander, Rear Admiral Shahram Irani, held talks with India’s Chief of Naval Staff on strengthening maritime security cooperation.
The theme was “United through Oceans.” Notably, the US Navy was supposed to send the guided-missile destroyer USS Pinckney to the exercise Milan; however, the ship was diverted to Singapore on February 15. The US did not field its warship in Milan, which had ships from Russia and Iran.
The exercise ended on February 25. Three days later, on February 28, the United States and Israel launched Operation Epic Fury. The IRIS Dena was transiting home. This morning at 5:08 a.m. local time, the IRIS Dena issued a distress call. Sri Lanka’s Foreign Minister, Vijitha Herath, informed parliament that two navy vessels and an aircraft were deployed. Thirty crew members were rescued and admitted to Karapitiya Hospital in Galle.
The Straits Times reported 32 critically wounded survivors. Reuters reported 101 missing and 78 wounded. The Sri Lankan Navy spokesman said the operation was conducted in line with the International Convention on Maritime Search and Rescue.
News
Risk of power cuts due to use of low-quality coal,PUCSL warns
The Public Utilities Commission of Sri Lanka (PUCSL) has warned of a possible risk of power cuts due to the use of inferior quality coal affecting generation capacity at the Lakvijaya Power Plant, according to a recent commission report.
The commission said the risk to the continuous electricity supply was assessed based on the peak demand forecast submitted by the Ceylon Electricity Board (CEB) for 2026.
According to the report, the analysis assumed that hydropower plants could contribute up to 1,300 MW to meet the night peak demand, while the Lakvijaya Power Plant (LVPS) would be able to contribute only up to 690 MW due to a capacity shortfall, assuming a 40 MW generation capacity reduction from each unit.
The PUCSL said the assessment was carried out taking into account the planned maintenance schedule submitted by the CEB. Under the schedule, Unit 1 of the Lakvijaya plant is due to undergo maintenance checks and repairs in June for a period of 25 days, while Unit 2 is scheduled for maintenance in July for another 25 days.
The report also noted that the 270 MW West Coast Power Plant is scheduled to undergo maintenance in April for 10 days, while the 150 MW Kelanitissa Combined Cycle Power Plant (KCCP 2) is expected to undergo maintenance during May, June and July.
Under normal conditions, the report said, there is a potential risk of a generation capacity shortage if electricity demand reaches 3,030 MW in April, 3,070 MW in June and 3,000 MW in July.
The highest recorded night peak demand so far in 2026 was 2,949 MW on February 25.
The PUCSL further warned that if one coal unit or any major power plant becomes unavailable from the existing generation mix, there would be a significant risk of a generation capacity shortage to meet the night peak demand, particularly during April, June and July.
Energy sector analysts said the use of substandard coal could further aggravate operational challenges at the Norochcholai plant, potentially affecting generation efficiency and reliability if corrective measures are not taken promptly.
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