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SC ruling on economic meltdown: Lacille wants wrongdoers appropriately dealt with

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By Shamindra Ferdinando

One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court ruling on the economic crisis.

On the basis of a thorough examination of the ruling, action should be initiated against those who had been found guilty of economic ruin, regardless of their standing in the society, de Silva said.The prominent civil society activist who had served as Director, Administration of Parliament for over a decade during a turbulent period said that if political leaders genuinely responded to the situation, SC ruling could help Parliament to clean up the mess. “They’ll never get another opportunity like this,” de Silva said.

Lacille de Silva said that the political parties couldn’t ignore the Supreme Court faulted former President Gotabaya Rajapaksa who chaired the Cabinet-of-Ministers (Nov 2019-May 2022) and Finance Ministers, Mahinda Rajapaksa (Nov 2019-June 2021) and Basil Rajapaksa (June 2021-April 2022) and the five-member Monetary Board for the current crisis.

The former House official said so responding to The Island queries regarding political developments in the wake of the SC ruling. Pointing out that Transparency International Sri Lanka (TISL) as one of the petitioners in this case has already underscored the responsibility on the part of Parliament and relevant institutions and ministries to act on the SC ruling, de Silva emphasized that wrongdoers shouldn’t be shielded under any circumstances.

Responding to another query, the ex-House official said that though former President Mahinda Rajapaksa, MP, and MP Namal Rajapaksa commented on the SC ruling, political parties were yet to disclose how they intended to deal with the situation.

“It wouldn’t be an easy task. I know how the powers that be during the Yahapalana administration reacted to investigations undertaken by the PRECIFAC. I was sacked as its Secretary. On a directive given by the then President Maithripala Sirisena, Presidential Secretary P.B. Abeykoon informed me, in writing, of my removal. They didn’t at least give a reason,” de Silva said. “This happened in late Feb or early March 2016,” de Silva said, urging the Parliament to take up the challenge.

The SC ruling meant that the Gotabaya Rajapaksas’ government caused the unprecedented economic crisis, de Silva said, pointing out that the court was told of the need to refer the case to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

The SC ruling quoted Upul Jayasuriya, PC, appearing for some petitioners that a proper investigation under the relevant laws relating to Bribery and Corruption would ensure due respect to accountability.

Lacille de Silva said that against the backdrop of the SC ruling the Parliament constitutionally responsible for ensuring financial discipline and enactment of laws should inquire into its failure on its part to identify the impending catastrophe. “Perhaps, statements made by Governor of the Central Bank Dr. Nandalal Weerasinghe before the Committee on Public Accounts (COPA) and Committee on Public Enterprises (COPE) on May 24 and 25, 2022, respectively, should be re-examined. Dr. Weerasinghe didn’t mince his words when he quite rightly and clearly placed the blame on those who were found guilty by the SC on Nov 14, 2023.” Dr. Weerasinghe explained how tax revision declared and implemented in Nov 2019 contarry to the advice of IMF triggered the crisis, de Silva said.

The former House official emphasized that consequent to the SC ruling, Speaker Mahinda Yapa Abeywardena and leaders of political parties represented in Parliament would have to ascertain the requirement for the Parliamentary Select Committee (PSC) on the economic crisis. Noting that Prof. Charitha Herath, the former COPE Chairman, too, has been preparing a report on the continuing crisis, de Silva suggested the government and Opposition should reach consensus on a common action plan.

Referring to the judgment, de Silva said that the Supreme Court was told how the government ignored interventions made by the Central Bank in a bid to initiate a programme with the International Monetary Fund (IMF). The government’s irresponsible response led to the downfall of the economy, the SC was also told.

The IMF according to President’s Counsel Jayasuriya not only denied the last tranche of the IMF programme commenced in 2016 but also refused to grant a relief facility – Rapid Financing Instrument (RFI) – to overcome the ill-effects of the pandemic.



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Power sector overhaul targets losses, debt and tariffs

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Independent trade unions cry foul

The government has launched a far-reaching overhaul of the electricity industry, breaking up the Ceylon Electricity Board (CEB) into six fully state-owned companies, claiming to rein in chronic losses and mounting debt.

Under the Preliminary Transfer Plan, the newly incorporated entities, namely, Electricity Generation Lanka (Pvt) Ltd (EGL), National Transmission Network Service Provider (Pvt) Ltd (NTNSP), National System Operator (Pvt) Ltd (NSO), Electricity Distribution Lanka (Pvt) Ltd (EDL), CEB Employees Funds (Pvt) Ltd (CEBEF) and Energy Ventures Lanka (Pvt) Ltd (EVL), will take over the assets, liabilities and operations of the CEB from the appointed date.

Independent trade unions have opposed the restructuring programme.

At the core of the new model is the creation of an independent National System Operator, which will handle power system planning and competitively procure electricity from Electricity Generation Lanka, Independent Power Producers and non-conventional renewable energy developers. Power will be wheeled through the national grid operated by the NTNSP and sold to distribution companies.

Explaining the economic rationale, Eng. Pubudu Niroshan Hedigallage said the separation of functions was critical to restoring cost discipline in the sector.

“Electricity planning and procurement will now be carried out independently, based on least-cost principles. That is essential if we are to control generation costs and ease the upward pressure on tariffs,” he said.

Electricity Generation Lanka, though a successor to the CEB, will compete with private and renewable energy producers for projects, a move expected to curb inefficiencies and end guaranteed returns enjoyed under earlier arrangements.

“There will be no automatic allocation of projects. EGL must compete in the market like any other generator,” Eng. Hedigallage said.

According to officials, the Preliminary Transfer Plan provides for one generation and one distribution company initially, with further unbundling planned under the Final Transfer Plan to introduce sharper financial accountability at operational level.

Economists note that the restructuring is closely watched by multilateral lenders and investors, who have repeatedly flagged the power sector as a major fiscal risk.

The government has insisted that the reforms do not amount to privatisation, stressing that all six entities remain 100 percent state-owned. However, independent trade unions are of the view that what the government has undertaken is divestiture in all but name.

By Ifham Nizam

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India, Sri Lanka speakers discuss technology-driven parliamentary innovation, including AI-enabled systems

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Indian and Sri Lankan delegations meet in New Delhi (pic courtesy IHC)

Speaker of Lok Sabha Om Birla and Sri Lankan Speaker (Dr.) Jagath Wickramaratne recently discussed the possibility of expanding parliamentary cooperation through regular exchanges, formation of friendship groups, collaboration in policy and programme design and deeper engagement in technology-driven parliamentary innovation, including AI-enabled systems, real-time multilingual translation, and capacity building through Parliamentary Research and Training Institute for Democracies (PRIDE).

The discussion took place on the sidelines of the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi recently.

The following is the text of the statement issued by the Indian High Commission in Colombo: ” Speaker of the Parliament of Sri Lanka (Dr.) Jagath Wickramaratne concluded his visit to India from 14-18 January 2026, for participation in the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi. This was his first visit to India after assuming office. He was accompanied by Secretary-General of Parliament Kushani Rohanadeera and Assistant Director, (Administration) of the Parliament of Sri Lanka Kanchana Ruchitha Herath. Following the 28th CSPOC from 14-16 January 2026, Speaker and his delegation visited Jaipur, Rajasthan as a part of a two-day tour for CSPOC delegates from 17-18 January 2026.

The 28th CSPOC was inaugurated by Prime Minister of India Narendra Modi on 15 January 2026 at the Central Hall of Samvidhan Sadan, Parliament House Complex, New Delhi. Welcoming parliamentary leaders from across the Commonwealth, Prime Minister Modi highlighted the success of Indian democracy in providing stability, speed, and scale. He shared India’s efforts at giving voice to the Global South and forging new paths of cooperation to co-develop innovation ecosystems. He underlined the use of Artificial Intelligence by the Parliament of India to attract youth to understand Parliament. Prime Minister expressed his confidence in the CSPOC platform for exploring ways to promote knowledge and understanding of parliamentary democracy.

The conference, chaired by Lok Sabha Speaker Om Birla, convened 44 Speakers and 15 Deputy Speakers from 41 Commonwealth countries, along with representatives of four semi-autonomous Parliaments. The theme of the conference was “Effective Delivery of Parliamentary Democracy.” During the conference, participants addressed the role of Speakers in reinforcing democratic institutions, the integration of artificial intelligence in Parliamentary functions, the influence of social media on Members, approaches to enhance public engagement with Parliament, and measures to ensure the security, health, and wellbeing of Members and Parliamentary staff.

The visit marked a significant milestone in the evolving parliamentary partnership between India and Sri Lanka. Last year, two Parliamentary Delegations visited India for Orientation Programmes in May 2025 and August 2025 respectively. These visits, in line with the intent of the India – Sri Lanka Joint Statement on ‘Fostering Partnerships for a Shared Future’, further reinforce the strong democratic ethos and enduring friendship shared between the two nations.”

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Pakistan HC celebrates academic achievements of Lankan graduates

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A section of the participants at the Pakistan HC event

The High Commissioner of Pakistan in Sri Lanka hosted a special reception on Friday (16) for Sri Lankan alumni who have recently returned from their studies in Pakistan. The event, held at the Pakistan High Commission, celebrated the academic achievements of the graduates and reinforced the deep-rooted educational ties between the two nations.

The Allama Iqbal Scholarship Programme, a flagship initiative launched in 2019, has become a vital pillar of bilateral cooperation. The High Commissioner highlighted that Pakistan offers 1,000 fully funded scholarships at graduate, postgraduate, and PhD levels, with over 500 Sri Lankan students currently pursuing their education in Pakistan’s premier universities.

“Sri Lanka and Pakistan share an enduring friendship rooted in a shared history of mutual respect and culture,” the High Commissioner remarked during the address. “Education is the key to unlocking the success of your brilliant futures and creating bonds that extend well beyond the classroom”.

Addressing the alumni as “custodians” of a noble cause, the High Commissioner urged the alumni to act as brand ambassadors by sharing their knowledge to guide deserving students toward academic opportunities in Pakistan.

He emphasised their responsibility to mentor young minds, ensuring no capable student misses the chance for a promising future. Furthermore, the alumni were encouraged to take an active role in organising frequent educational and cultural engagements to inspire and enlighten others while strengthening the ties between the two nations.

The High Commissioner emphasized that each graduate serves as a “bridge” between the two countries, playing a meaningful role in uplifting Sri Lanka while further strengthening Pakistan–Sri Lanka relations. The alumni were invited to remain closely connected with the High Commission to facilitate future initiatives that strengthen people-to-people ties.

The evening concluded with a traditional Pakistani dinner, where the alumni shared stories of their academic growth and cultural experiences in Pakistan in a spirit of friendship and togetherness.

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