News
SLPP rebels propose amendments to 2017 Foreign Exchange Act to overcome financial crisis
By Shamindra Ferdinando
The economy was in such a precarious situation that the Wickremesinghe-Rajapaksa government couldn’t further delay the restoration of the relevant provisions of the 1953 Foreign Exchange Act to compel the private sector to bring back export proceeds, rebel SLPP MP Prof. G.L. Peiris said yesterday (30).
Referring to a spate of declarations made by Justice Minister Dr. Wijeyadasa Rajapakshe, both in and outside Parliament, Prof. Peiris emphasised the urgent need to amend the 2017 Foreign Exchange Act enacted by the Yahapalana administration to discard the tried and tested law that existed since 1953. Altogether 94 MPs voted for the new Bill whereas 18 voted against. The rest skipped the vote.
The former minister dealt with the issue at the weekly media briefing held at the SLPP rebels’ office at Nawala.
Prof. Peiris explained how tangible measures, if taken to amend the Yahapalana Foreign Exchange Act, could help the government to ease pressure on the Treasury. “People do not have to be further burdened in a bid to bridge the Budget deficit. The government shouldn’t hesitate to pressure exporters to bring back export proceeds by amending the 2017 Bill,” Prof. Peiris said, warning the government of dire consequences if it failed to act immediately.
The academic alleged that the country was paying a very heavy price for the deliberate failure on the part of the government to collect taxes and tax concessions granted to those near and dear to the powers that be.
Prof. Peiris asked whether the Treasury and the Inland Revenue Department deliberately allowed influential private sector persons to skip paying taxes. Referring to statements issued by MP Patali Champika Ranawaka and Minister Wijeyadasa Rajapakshe, Prof. Peiris said that the IRD and the Excise Department pathetically failed to meet revenue targets.
The former minister said that the overall failure of revenue collection apparatus consisting of IRD, Excise and Customs to meet revenue targets over the years had contributed to the developing economic crisis and the powers that be were yet to take remedial measures.
Prof. Peiris said that massive fraud perpetrated by liquor manufacturers with the connivance of the interested parties is a case in point. The former minster discussed how the Treasury suffered heavy losses and how two liquor manufactures were allowed to continue without paying what they owed the Excise Department.
News
Navy seizes an Indian fishing trawler poaching in Sri Lankan waters north of Talaimannar
During an operation conducted in the wee hours of Tuesday (23 Dec 25), the Sri Lanka Navy seized an Indian fishing trawler and apprehended 12 Indian fishermen, while they were poaching in Sri Lankan waters north of Talaimannar.
Recognizing the detrimental effects of poaching on marine resources and the livelihoods of local fishing communities, the Sri Lanka Navy continues to conduct regular operations as
proactive measures to deter such activities. These efforts underscore the collective robust approach steadfast commitment to safeguarding the nation’s marine ecosystems while ensuring the economic security and wellbeing of its citizens.
The fishing trawler along with the fishermen held in this operation was handed over to the Fisheries Inspector of Mannar for onward legal proceedings.

News
India’s External Affairs Minister meets Sri Lanka PM
India’s External Affairs Minister, Dr. Subramaniam Jaishankar, met with the Prime Minister of Sri Lanka, Dr. Harini Amarasuriya, on 23 December at Temple Trees, during his visit to Sri Lanka as the Special Envoy of Indian Prime Minister Shri Narendra Modi.
The meeting took place as part of the official visit aimed at holding discussions with Sri Lanka’s top leadership, at a time when the nation commenced reconstruction efforts following the devastation caused by Cyclone Ditwah.
During the discussions, the Minister of External Affairs of India reaffirmed readiness to extend support for Sri Lanka, including assistance in rebuilding railways, bridges, and strengthening of the agricultural sector in the country. He also highlighted the importance of having effective systems in place to respond to disaster situations, supported by strong legislative, administrative, and institutional frameworks. Both sides reviewed ongoing relief efforts and explored avenues to further strengthen bilateral cooperation in disaster response and recovery.
The Prime Minister commended the Government of India for the continued support, noting that the recovery process following the devastation caused by Cyclone Ditwah include beyond immediate relief efforts to long-term measures such as resettlement, and reconstruction of habilitation and infrastructure.
The Prime Minister further stated that steps have been taken to reopen schools as part of the process of restoring normalcy, with close monitoring in place. The Prime Minister emphasized the need to ensure stability, reduce vulnerability, and strengthen protection mechanisms highlighting the solidarity of the people, their strong spirit of volunteerism, and collective action demonstrated during the emergency situation.
The event was attended by the High Commissioner of India Santosh Jha, Additional Secretary (IOR), MEA Puneet Agrawal, Joint Secretary (EAMO), MEA Sandeep Kumar Bayyapu, Deputy High Commissioner Dr. Satyanjal Pandey, and representing Sri Lankan delegation, Secretary to the Prime Minister Pradeep Saputhanthri, Additional Secretary to the Prime minister Ms.Sagarika Bogahawatta, Director General (South Asia), Ministry of Foreign Affairs Samantha Pathirana, Deputy Director, South Asia Division, Ministry of Foreign Affairs Ms.Diana Perera.
[Prime minister’s media division]
News
Sri Lanka’s coastline faces unfolding catastrophe: Expert
Sri Lanka is standing on the edge of a coastal catastrophe, with the nation’s lifeline rapidly eroding under the combined assault of climate change, reckless development and weak compliance, Director General of the Department of Coast Conservation and Coastal Resource Management (DCC&CRM) Dr. Terney Pradeep Kumara has warned.
“This is no longer an environmental warning we can afford to ignore. The crisis is already unfolding before our eyes,” Dr. Kumara told The Island, cautioning that the degradation of Sri Lanka’s 1,620-kilometre coastline has reached a point where delayed action could trigger irreversible damage to ecosystems, livelihoods and national security.
He said accelerating coastal erosion, rising sea levels, saltwater intrusion and the collapse of natural barriers, such as coral reefs and mangroves, are placing entire coastal communities at risk. “When mangroves disappear and reefs are destroyed, villages lose their first line of defence. What follows are floods, loss of homes, declining fisheries and forced displacement,” he said.
Dr. Kumara stressed that the coastline is not merely a development frontier but the backbone of Sri Lanka’s economy and cultural identity. “More than half of our tourism assets, fisheries and key infrastructure are concentrated along the coast.
If the coast fails, the economy will feel the shock immediately,” he warned.
Condemning unregulated construction, illegal sand mining and environmentally blind infrastructure projects, he said short-term economic interests are pushing the coastline towards collapse. “We cannot keep fixing one eroding beach while creating three new erosion sites elsewhere. That is not management—it is destruction,” he said, calling for science-driven, ecosystem-based solutions instead of politically convenient quick fixes.
The Director General said the Department is intensifying enforcement and shifting towards integrated coastal zone management, but warned that laws alone will not save the coast. “This is a shared responsibility. Policymakers, developers, local authorities and the public must understand that every illegal structure, every destroyed mangrove, weakens the island’s natural shield,” he added.
With climate change intensifying storms and sea surges, Dr. Kumara warned that Sri Lanka’s vulnerability will only worsen without urgent, coordinated national action. “The sea has shaped this nation’s history and protected it for centuries. If we fail to protect the coast today, we will be remembered as the generation that allowed the island itself to be slowly eaten away,” he went on to say.
By Ifham Nizam
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