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SLPP dissidents ask govt. to bring back USD 35 bn ‘parked’ overseas

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underscore need to amend Exchange Control Act

By Shamindra Ferdinando

MP Gevindu Cumaratunga, who represents the SLPP dissidents, yesterday (27) alleged that the incumbent government was yet to bring enough pressure to bear on those who had parked as much as USD 36 billion overseas to bring the money back.Cumaratunga said the government’s failure to amend the Exchange Control Act No 12 of 2017 should be examined against the backdrop of President Ranil Wickremesinghe’s Budget proposal to draw more loans in 2023.

The leader of the civil society group Yuthukama, Cumaratunga, who represents the Uththara Lanka Sabhagaya, one of the breakaway factions of the ruling SLPP, said that two of his colleagues, Vasudeva Nanayakkara and Wimal Weerawansa, had, during the ongoing Budget debate, had raised the issue of forex stashed away overseas.

Cumaratunga said that he couldn’t comprehend why the government delayed making it mandatory for exporters to bring back much required foreign exchange.Responding to The Island queries, lawmaker Cumaratunga emphasised that though the vote on the Second Reading of the Budget was approved on Nov. 22, with a majority of 37 votes, it failed to address even the basic issues. Cumaratunga was among 84 MPs who voted against the Budget whereas it received the backing of 121 lawmakers.

The other Yuthukama MP in Parliament Anupa Pasqual, now a State Minister, voted for the Budget.The parliament couldn’t absolve itself of the responsibility for taking immediate measures to amend the Exchange Control Act No 12 of 2017, the MP said, pointing out in terms of Article 148 that dealt with public finance this issue should have been addressed long ago.

Cumaratunga was not an MP at the time the Yahapalana administration introduced that controversial legislation.The first-time entrant to Parliament said that the government was on its knees before the International Monetary Fund (IMF) for USD 2.9 bn spread over a period of four years, whereas exporters deliberately denied the country more than 10 times that amount in much needed forex.

Addressing the Parliament during the debate on the Budget, lawmaker Cumaratunga questioned the role played by the then Finance Minister Ravi Karunanayake in introducing the questionable piece of legislation.  Cumaratunga slammed Foreign Minister Ali Sabry, PC, who previously held the Finance portfolio for ignoring the contentious issue of massive amount of money ‘parked’ overseas by exporters.

Declaring that Sabry hadn’t been involved with the then Joint Opposition following the 2015 change of government, lawmaker Cumaratunga questioned the circumstances under which the prominent President’s Counsel entered politics. The activist asked whether it was fair to accommodate Sabry on the SLPP National List in return for his role as leading lawyer for Gotabaya Rajapaksa, and his current role.

During two speeches in Parliament, MP Cumaratunga dealt with several contentious issues, including an alleged move to deprive farmers of their land. The outspoken MP warned the government of dire consequences of a decision regarding state land that was to be taken soon, while appealing for Premier Dinesh Gunawardena’s intervention.

Referring to a steep increase in the allocation made to the President at the 2023 Budget, MP Cumaratunga said that the President received Rs 2,467 bn last year, Rs 3,044 bn this year and a staggering Rs 7,888 bn next year.

Appreciating a significant drop in the allocation made for the Premier, MP Cumaratunga said that the ministerial staff received Rs 132 bn last year, Rs 217 bn this year and Rs 263 bn next year. Such allocations should be studied taking into consideration the state of the national economy, lawmaker Cumaratunga said, alleging that the Budget didn’t reflect the actual situation.

The MP said that having received the executive presidency, through a vote in Parliament on July 20, to complete the remainder of Gotabaya Rajapaksa’s five-year term, the UNP leader was pursuing an agenda contrary to what he preached as Premier (May 12-July 13, 2022).

Referring to statements made by Wickremesinghe during that period pertaining to the then proposed 21st Amendment to the Constitution, MP Cumaratunga questioned the rationale in the President holding onto the Finance portfolio. The MP said as Premier Wickremesinghe continuously expressed the view that the President shouldn’t hold any Cabinet portfolio. The MP said that they were of the view that the President should hold the Defence portfolio. Having vowed to strengthen Parliament, President Wickremesinghe could justify his role as the Finance Minister. The President holds several other ministerial portfolios for want of an agreement with the SLPP pertaining to sharing of portfolios.

Referring to the Budget declaration that the government intended to procure Rs 1,000 bn in loans and settle loans amounting to Rs 440 bn, MP Cumaratunga said that the bottom line is the increase in debt. “Aren’t we getting further embroiled in a debt trap?” he asked.

MP Cumaratunga strongly criticized the government for planning to open Mahaweli lands to outsiders. The declaration that profit-making Sri Lanka Telecom and Sri Lanka Insurance would be privatized, on the pretext of restructuring, came under fire by the MP, who also expressed serious concerns over the proposed privatization of Hilton as well as profit-making sections of SriLankan Airlines.



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Fuel crunch looms

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Govt. tells fuel distributors to maintain stocks to ensure uninterrupted supplies

by Saman Indrajith and Norman Palihawadane

The government had instructed private fuel distributors to maintain minimum stocks and ensure uninterrupted supplies to the market, Energy Minister Anura Karunathilaka told Parliament yesterday (06).

Karunathilaka said the Ministry of Energy Secretary had notified the relevant companies of the requirement, following a reduction in supplies by some private distributors, amid higher international fuel prices.

The Minister said private companies had informed the government that they were facing losses because international prices had risen while fuel was being sold, locally, at prevailing prices. As a result, some companies had reduced the volumes released to the market.

The reduced supplies had increased the burden on the Ceylon Petroleum Corporation (CPC), whose share of the diesel market had risen from about 54% to 82%, the Minister said.

“The CPC currently holds an 82% share of the market,” he said, adding that it had increased its supplies, compared with February, to compensate for the reduction by private distributors.

Karunathilaka said the government could not, under the existing agreements with private companies, specify the quantities they should supply to individual filling stations. However, it could require them to maintain minimum stocks in the country.

The Minister said the Energy Ministry had already instructed companies that had failed to maintain the required stocks to take steps to prevent supply disruptions.

The Minister attributed the queues reported at some filling stations to reduced supplies from private distributors, as well as normal variations in fuel distribution. He also said demand for CPC fuel had increased because private companies generally did not provide fuel to dealers on credit, while the CPC offered a three-day credit facility.

“We expect that, as the Ceylon Petroleum Corporation takes on this additional burden, the problem will ease to some extent by Wednesday or Thursday,” Karunathilaka said.

He said instructions had also been issued to increase supplies to CPC filling stations. A special discussion on the issue is scheduled for today (07), with officials of the Energy Ministry and CPC expected to participate,

along with President Anura Kumara Dissanayake.

Meanwhile, Petroleum Dealers’ Association officials have called for an early solution to the supply issue. Association Chairman D.V. Shantha Silva said queues had been reported at many filling stations, mainly those operated by private distributors.

He said the situation was not due to an overall shortage of fuel, but was linked to reduced orders by Lanka IOC, Sinopec and R.M. Parks amid concerns over losses incurred on fuel sales.

The Ceylon Petroleum Private Tanker Owners Association has urged motorists to refrain from panic buying, saying there was no nationwide disruption to fuel supplies.

The government earlier increased fuel prices and introduced a per-litre diesel subsidy following concerns raised by distributors over rising international prices.

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Gnansara Thera to be assigned to prison printing section: Officials

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Bodu Bala Sena General Secretary Ven. Galagodaaththe Gnanasara Thera, who was taken into custody to serve the remainder of his prison sentence, was produced before the Colombo High Court yesterday by prison officials in connection with a warrant issued by the court. He appeared before the court in layman’s clothes. Pic by Nishan S. Priyantha.

by Norman Palihawadane

Bodu Bala Sena General Secretary Ven. Galagodaatte Gnanasara Thera, who has been ordered by the court to serve the remainder of his prison sentence, is to be assigned to the prison ‘printing work party’, prison officials said yesterday.

The monk was produced before the Colombo High Court yesterday by prison officials in connection with a warrant issued by the court.

He appeared before the court in civilian attire.

Prison sources said arrangements were being finalised for his detention and that he would subsequently be assigned to the printing work party.

The Thera initially objected when prison officials instructed him to change from his robes into the attire worn by convicted prisoners.

He later agreed to wear the prescribed prison clothes, sources said.

The Supreme Court, in September, annulled the presidential pardon granted to Gnanasara Thera in 2019. He had been serving a six-year prison sentence imposed following his conviction for contempt of court but had served only about nine months when then President Maithripala Sirisena granted him a presidential pardon in May 2019.

Following the Supreme Court ruling, the Thera was required to serve the remainder of his sentence. He was subsequently reported missing, prompting the Court of Appeal to issue an open warrant for his arrest.

The Court of Appeal on Monday ordered the authorities to enforce the remainder of his prison sentence.

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Speaker rejects Ajith Perera’s privilege complaint

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Speaker Dr. Jagath Wickramaratne yesterday ruled that a privilege complaint submitted by SJB Kalutara District MP Ajith P. Perera did not constitute a prima facie breach of parliamentary privilege.

The ruling was made in response to a notice of privilege submitted by Perera on October 02.

Perera alleged that his parliamentary privileges had been breached over the failure to take formal action or reach a final decision on a written request submitted on August 03 by 18 Opposition MPs seeking the appointment of a Special Select Committee to investigate delays in the judicial system and prison overcrowding.

He had also requested that the matter be referred to the Committee on Ethics and Privileges for investigation and recommendations.

In his ruling, Speaker Wickramaratne said the Speaker, as the Presiding Authority and guardian of the powers, rights and privileges of Parliament, could not be subjected to a privilege complaint or disciplinary inquiry by a committee subordinate to the Chair in respect of actions taken in an official capacity.

He said that, under the Standing Orders, the Speaker was required to independently determine whether a prima facie case of breach of privilege existed.

Referring a complaint against the Speaker to a committee functioning under the Speaker’s authority would, therefore, create a procedural contradiction, he said.

Accordingly, the Speaker ruled that Perera’s notice did not constitute a prima facie breach of parliamentary privilege and disallowed the request to refer the matter to the Committee on Ethics and Privileges.

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