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SC ruling on economic collapse: TISL expects Parliament to act

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Nadishani

By Shamindra Ferdinando

Executive Director, Transparency International Sri Lanka (TISL), Attorney-at-Law, Nadishani Perera yesterday (15) said that it would be the responsibility of the Parliament and relevant institutions to take appropriate actions in the wake of the landmark Supreme Court judgment pertaining to the unprecedented economic crisis.

Lawyer Perera said so in response to The Island query regarding the status of Sanjeeva Jayawardena, PC, and Dr. Ranee Jayamaha, both members of the Monetary Board who had served the body during the tenure of Prof. W.D. Lakshman (Dec 2019-Sept 2021) and Ajith Nivaard Cabraal (Sept 2021-March 2022) as the Governor of the Monetary Board.

The SC found fault with the Monetary Board for the economic crisis. Jayawardena and Jayamaha continued to serve the Monetary Board whereas Samantha Kumarasinghe was replaced in the wake of the political crisis triggered by the economic collapse.

TISL is one of the petitioners among those who filed FR cases heard before the five-judge bench of the apex court. Chief Justice Jayantha Jayasuriya, PC, Justices Buwaneka Aluwihare, PC, Priyantha Jayawardana, PC, Vijith K. Malalgoda, PC, and Murdu N.B. Fernando, PC.

Lawyer Perera emphasized the need for a dialogue over the SC ruling. The SC faulted former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, former Presidential Secretary Dr. P.B. Jayasundera, former CBSL Governors Prof. W.D. Lakshman and Ajith Nivard Cabraal and former Treasury Secretary S.R. Attygalle et al.

The other petitioners were Dr. Athulasiri Kumara Samarakoon, Soosaiappu Neavis Morais, Dr. Mahim Mendis, Chandra Jayaratne, Julian Bolling and Jehan Canagaretna.

Even President Ranil Wickremesinghe, in his capacity as the Finance Minister, has been named as a respondent.

Petitioners asserted that a series of decisions taken during the relevant period, including the decisions to revise taxes, artificial control of the exchange rate, failure to maintain official reserves leading to their serious depletion, failure to seek the IMF’s intervention and the failure to make necessary adjustments to the interest rates caused the economic collapse.



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Sri Lanka is an example of hope, recovery and resilience in a world of conflict – PM

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Prime Minister Dr. Harini Amarasuriya participated in a high-level dialogue titled “Tourism as Soft Power and Diplomatic Capital” held at the Euronews Hub, Piz Buin Davos, on the sidelines of the World Economic Forum on January 20.

The session explored how tourism functions as a strategic instrument of diplomacy by strengthening international trust, cultural exchange, and regional cooperation through mobility and people-to-people engagement. The Prime Minister shared the panel with Mr. Kuban Omiraliyev, Secretary General of the Organization of Turkic States and Mr. Meshari Alnahar – ‏CEO Aseer Investment Company, Saudi Arabia.

Addressing global trends, the Prime Minister emphasized that Sri Lanka is an example of hope, recovery and resilience in a world of conflict demonstrating how tourism can play a critical role in a changing global environment particularly amid climate shocks, geopolitical instability, and uneven economic recovery. She noted that tourism is not only an economic sector but also a vital diplomatic bridge that supports livelihoods, builds relationships and connects people.

Drawing on Sri Lanka’s recent experience, she highlighted the country’s strong tourism recovery despite multiple crises, including the impact of Cyclone Ditwah. Transparent crisis management and strategic engagement with international partners helped sustain visitor confidence, resulting in record tourist arrivals even in challenging circumstances.

The Prime Minister also underscored the importance of green and climate friendly tourism infrastructure and underlined that Sri Lanka welcomes long term investment in tourism. She pointed out that tourism supports millions of jobs worldwide and that inclusive policies are essential to ensure fair opportunities, particularly for women and vulnerable communities.

[Prime Minister’s Media Division]

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Navy seizes 02 Indian fishing boats poaching in northern waters

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During an operation conducted in the dark hours of 20 Jan 26, the Sri Lanka Navy seized two (02) Indian fishing boats and apprehended seven (07) Indian fishermen while they were poaching in Sri Lankan waters, off Kovilan, Jaffna.

The seized boats and Indian fishermen was to be handed over to the Fisheries Inspector of Myliddy, Jaffna for onward legal proceedings.

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Prime Minister participates in high-level bilateral meetings at World Economic Forum

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Prime Minister Dr. Harini Amarasuriya participated in a series of high-level bilateral meetings on January 20 on the sidelines of the 56th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland.

The Prime Minister attended a productive bilateral meeting with Mr. Jozef Síkela, European Commissioner for International Partnerships. During the discussion, both sides focused on strengthening Sri Lanka–EU cooperation and advancing mutual interests.

Prime Minister Amarasuriya also met with Mr. Masato Kanda, President and Chairperson of the Board of Directors of the Asian Development Bank (ADB), at the WEF Congress Centre. The meeting provided an opportunity to discuss ongoing engagement and future collaboration between Sri Lanka and the ADB.

In addition, the Prime Minister held discussions with Mr. Hassan El Houry, Chairman of Menzies Aviation, where opportunities for collaboration in aviation services and connectivity were explored.

The Prime Minister also participated in a high-level dialogue at the Global Tourism Forum held at the Euronews Hub, Piz Buin, Davos, as part of the World Economic Forum engagements.

Dr. Anil Jayantha, Minister of Labour, and the Deputy Minister of Finance were also present at these meetings.

[Prime Minister’s Media Division]

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