News
SLPP dissidents ask govt. to bring back USD 35 bn ‘parked’ overseas
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.
News
Compensation payments and reconstruction activities related to the Ditwah relief measures must be expedited with special attention at the district level – PM
Prime Minister Dr. Harini Amarasuriya emphasized that compensation payments and reconstruction activities related to the Ditwah relief measures must be expedited with special attention at the district level. She further stated that all necessary allocations have already been made to Provincial Councils and instructed that the progress of disaster damage assessments and reconstruction efforts be closely monitored at the provincial level.
The Prime Minister made these remarks at a discussion held on Tuesday (21) at Temple Trees under her patronage, aimed at informing Chairpersons of District Coordination Committees and public representatives from disaster-affected districts, in order to accelerate the implementation of the “Rebuilding Sri Lanka” programme. The discussion focused on expediting disaster relief and compensation payments, as well as the swift restoration of infrastructure damaged by the disaster.
The Prime Minister emphasized that Rs. 500 billion has been allocated for damages caused by the Ditwah cyclone, and that all relevant development activities must be completed before the end of 2026. The Prime Minister also instructed officials to pay special attention to resolving issues at the local level that are causing delays in compensation payments.
Senior Additional Secretary to the President, G.M.R.D. Aponsu, stated that the estimated cost for reconstruction following the Ditwah cyclone is approximately USD 3.4 billion. Accordingly, funds have been allocated for compensation across several sectors including housing and social infrastructure, agriculture and livestock, fisheries, industry and livelihoods, and irrigation. He further noted that 99% of the Rs. 25,000 allowance has already been disbursed, while 95% of the Rs. 50,000 resettlement allowance has been paid. Compensation for fully and partially damaged houses is still ongoing, and 99% of temporary relief centres have been closed.
Additionally, attention was drawn to several other measures, including providing Rs. 25,000 to affected schoolchildren, paying Rs. 1 million as compensation for each deceased individual, compensation for children who lost one or both parents, support for persons with disabilities affected by the disaster, compensation for agricultural losses, and expediting resettlement of displaced families. Measures such as allocating land for new housing construction and accelerating the issuance of reports from the National Building Research Organization were also discussed.
Focus was also placed on the reconstruction of affected schools, hospitals, and daycare centres, improving the accuracy and speed of data collection at the local level, and accelerating infrastructure development.
The event was attended by Minister of Plantation and Community Infrastructure Samantha Vidyarathna, Minister of Public Administration, Provincial Councils and Local Government Dr. Chandana Abayarathna, Deputy Minister of Agriculture and Livestock Namal Karunaratne, Deputy Minister of Trade, Commerce, Food Security and Cooperatives R.M. Jayawardena, Deputy Minister of Education Dr. Madhura Senevirathna, Members of Parliament, Chairpersons of District Coordination Committees, Chief of Staff to the President and Commissioner General of Essential Services Prabath Chandrakeerthi, Additional Secretary to the President Jayantha Bandara; and officials of the Prime Minister’s Office.
[Prime Minister’s Media Division]
News
Parliament urged to probe questionable payment of USD 2.5 mn from Treasury
… five senior officials suspended
President’s Counsel Maithri Gunaratne has urged the Parliament to intervene in an ongoing investigation conducted by the Treasury into the wrongful payment of USD 2.5 mn loan instalment to a third party instead of the country that gave the loan to the Government of Sri Lanka.
Gunaratne, in a letter addressed to Speaker Dr. Jagath Wickremaratne copied to leaders of all political parties represented in Parliament, General Secretaries of those political parties, Committee on Public Finance, Auditor General and National Audit Office, has stated the payments were made between December 2025 and January 31, 2026.
Lawyer Gunaratne took up the issue on behalf of civil society grouping ‘Free Lawyers’ after gathering information related to the alleged payments. Spokesman for ‘Free Lawyers’ Keerthi Tennakoon told The Island that they expected the Parliament to act swiftly and decisively. Pointing out that the ‘disappearance’ of USD 2.5 mn took place amidst the massive National Development Bank (NDB) fraud, amounting to Rs. 13.2 bn, Tennakoon emphasised the responsibility of the Parliament to take charge of the investigation.
According to Gunaratne’s letter, seen by The Island, following an international investigation carried out by a technical committee, two Treasury Directors, two Deputy Treasury Directors and a senior official responsible for IT had been interdicted.
As the relevant payments amounted to USD 2.5 mn, the process couldn’t have been completed without the involvement of the Deputy Secretary, Treasury and Treasury Secretary, Gunaratne stated.
According to him, the Central Bank had been responsible for loan payments until recently but the alleged irregularities happened after that task was brought under the Department of External Resources and Public Debt Management Office.
The Free Lawyers said that as the Secretary to the Treasury, Harshana Suriyapperuma, was also the Secretary to the Finance Ministry, the Parliament should intervene to establish a suitable mechanism to investigate this.
Former NPP National List lawmaker Harshana Suriyapperuma succeeded Mahinda Siriwardena in late June 2025.
Tennakoon said that they felt the need to bring the shocking development to the public domain as those who knew of the incident remained silent.
By Shamindra Ferdinando
News
USD 2 mn bribe: CID ordered to arrest Shasheendra R, warrant issued against ex-SriLankan CEO’s wife
Colombo Fort Magistrate Isuru Neththikumara has directed the Criminal Investigation Department (CID) to arrest former SriLankan Airlines board member Shasheendra Rajapaksa and produced him in court in connection with the ongoing probe into the Airbus deal during his uncle President Mahinda Rajapaksa’s second term.
The Magistrate sought an explanation from the CID regarding the delay in executing the arrest warrant in respect of Shasheendra Rajapaksa when the case was taken up yesterday (22).
Neththikumara issued a warrant on Priyanka Nayomali Wijenayake, the wife of former SriLankan Chief Executive Officer Kapila Chandrasena, over the investigations into the Airbus transaction.
The Chandrasenas have been accused of receiving US 2 mn bribe to facilitate the transaction.
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) is also inquiring into the Airbus deal. The Magistrate further ordered that the case pending before the Court be called again on May 20.
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