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Sabry asks MPs to abhor Machiavelli type behaviour

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By Saman Indrajith

Justice Minister Ali Sabry, on Friday, said that MPs should take the duty of leading their followers seriously and therefore had to be careful with their public statements while keeping in mind that they could not act against the Constitution.

Participating in the debate on vote on account, the Minister said that the members had taken oaths to uphold and protect the Constitution and not to directly or indirectly within or outside of the country to support, espouse, promote, finance, encourage and advocate the establishment of a separate state within the territory of Sri Lanka. “If that is the case we should never by our act or conduct espouse that kind of thing,” Minister Sabry said.

Minister Sabry said that the Svasthi (Constitutional proclamation) of Lankan Constitution says that “We, the freely elected representatives of the people of Sri Lanka, in pursuance of such mandate, humbly acknowledging our obligations to our People and gratefully remembering their heroic and unremitting struggle to regain and preserve their rights and privileges so that the dignity and freedom of the individual may be assured, just, social, economic and cultural order attained, the unity of the country restored, and concord established with other nations, do hereby adopt and enact this constitution.”

“I believe we as MPs should stand for those values without resorting to rhetoric,” he said.

The Minister said that they had to abide by the Article Nine of the Constitution which gave first and foremost place to Buddhism. “Republic of Sri Lanka shall give to Buddhism the foremost place and accordingly it shall be the duty of the State to protect and foster the Buddha Sasana, while assuring to all religions the rights granted by Articles 10 and 14(1)(e)”. The Article 10 of Constitution says that every person is entitled to freedom of thought, conscience and religion, including the freedom to have or to adopt a religion or belief of his choice. Article 12 of the Constitution says that no citizen shall be discriminated against on the grounds of race, religion, language, caste, sex, political opinion, place of birth or any one of such grounds. “Now, the time for everyone to read and understand them,”

Minister Ali Sabri said: “We have got to protect the Constitution and if so we have to foster Buddhism. In the meantime we have got to guarantee the right to religion and to treat all equally. If we read them clearly we don’t have to listen to those unnecessary statements made by some here. It is enough.

“I remember the inaugural speech of the late Gamini Dissanayake mentioned a quotation from French revolutionary Camille Desmoulins -‘Let us watch in which diversion the mob is running, so that we can lead them.’ But, that is not the leadership. Leaders need to find for themselves what is right for this country and it is that direction they should lead followers, lead them to safety, dignity and integrity of this nation. That is how we can build this country. It is no point in positioning yourself at the front of the mob and getting their votes to be on this side or that side. We have to find what is right for this country. We must give leadership to this country. That is exactly President Gotabaya Rajapaksa wants. He made it very clear in his address before this august assembly that he wants to create a country where all citizens will feel safe, secure and dignified. I invite everyone to join hands, forget the past and move on to build a Sri Lanka which is inclusive. That is called inclusive nationalism. We do not want any sort of division. It is with unity we can build this country and go towards prosperity.”



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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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