News
Wajira raises issue of onus on settling defaulted payments
UNP Chairman Wajira Abeywardena said yesterday that the onus was on the government to take constructive steps to address the issue of defaulted payments on international sovereign bonds by diverting money allocated for certain other projects for settling them, and by entering into discussions to restructure such payments, without resorting to outright ceasing of such payments, as it will have a direct negative impact on the economy.
Addressing a press conference in Colombo, Abeywardena said that the decision taken by the Government to cease all international payments on sovereign bonds, has, in effect,taken a, high toll on every sector of the country, including many successful businessmen.
“Even though the present Government is insolvent, it did not affect the business activities of our businessmen who were making profit through their day-to-day business. However, the drastic decision taken by the Government has resulted in most businesses closing down,” he said.
The UNP Chairman said that the Constitution has granted full powers to Parliament on handling Public Finance, as per the provisions of Articles 148, 149 (1), 151 (1). But despite such full powers being granted to Parliament, Sri Lanka became an officially insolvent country in April 2022.
“In such a dire economic circumstances, the public must be made aware of the fact that recent economic analyses have shown that certain treasury bills issued by the Sri Lankan Treasury have lost recognition in international bond markets. It was incumbent upon the Government to pay around $ 70 million on sovereign bonds in April this year, and another $ 1.5 billion by 15 June,” he said.
Abeywardena added that although it has been stipulated in the budget that such payments shall be made in due time, if the Government is unable to fulfil such payment due to poor inflow of revenue, such fact must be duly reported to Parliament in accordance with the provisions stipulated in the Constitution, following which Parliament has the mandate to establish a Contingencies Fund, despite any provisions to the contrary being stipulated in Articles 149 and 151.
Abeywardena added that the Ministry of Finance should bear direct responsibility for the great tragedy that has befallen the country. “Any citizen whose name appears in the Crib is denied any loan facility by Sri Lankan banks. It is an onus on the Government, too, to keep in mind that it is now in the same situation.
“If foreign nations refuse to grant loans to Sri Lanka, we will end up as a bankrupt country. Therefore, similar concessions need to be granted to Sri Lankan businessmen who have become insolvent due to imbecile decisions taken by the Government,” he said.
An opposition grouping alleged yesterday (18) that the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) had become a political tool in the hands of the JVP/NPP to suppress the Opposition both in and outside Parliament.
Former Minister Prof. G. L. Peiris accused the CIABOC of fabricating cases against political opponents by manipulating those summoned. He tore into the institution, alleging that it drove people to suicide.
Addressing the media at the former President Ranil Wickremesinghe’s Flower Road office, Prof. Peiris alleged that former SriLankan Airlines CEO, Kapila Chandrasena, had been a victim of that despicable strategy. Director General of CIABOC, ex-High Court Judge Ranga Dissanayake, had warned Chandrasena of dire consequences unless the latter fully cooperated with the Commission, Prof. Peiris said.
Prof. Peiris emphasised the responsibility on the part of all concerned to examine Chandrasena’s affidavit regarding the intervention made by the Director General.
Chandrasena committed suicide while being on bail in connection with an investigation into the alleged USD 2 mn bribe to facilitate an Airbus deal during the second term of President Mahinda Rajapaksa.
Prof. Peiris alleged that the CIABOC Director General had taken control of the Commission and was pursuing an agenda inimical to the law. (SF)
News
Over 5,000 military personnel promoted to coincide with 17th anniversary of victory over terrorism
In line with the 17th National War Heroes’ Commemoration Day, which falls on 19 May, a total of 5,289 Tri Service personnel have been granted promotions to their next respective ranks in recognition of their dedicated service rendered to the nation, the Defence Ministry announced.
The National War Heroes’ Commemoration Day is commemorated annually on 19 May to honour and appreciate the invaluable sacrifices and exemplary service of members of the Tri Forces who contributed immensely towards restoring peace and safeguarding the sovereignty of the motherland.
Accordingly, these promotions have been awarded, based on the recommendations of the respective Service Commanders, and in accordance with the established administrative procedures of the Tri Forces.
Kalutara is the worst affected district due to the prevailing adverse weather conditions. According to the Disaster Management Centre (DMC) of approximately 200 houses partially damaged so far, about 90% are in the Kalutara district.
DMC said that 22 houses had been damaged in the Ratnapura District, 14 in the Galle District, 4 in the Moneragala District, 25 in the Batticaloa District, 5 in the Colombo District, 4 in the Jaffna District, 25 in the Gampaha District, 2 in the Hambantota District, 2 in the Anuradhapura District, 5 in the Mannar District, and 2 in the Trincomalee District..
One house was destroyed in the Ratnapura District.
The DMC further stated that 1,582 families had been affected by the inclement weather.
The affected families are in 66 Divisional Secretariat divisions across the country.
Accordingly, a total of 5,267 individuals from 1,582 families have been impacted by adverse weather, according to the statement issued by the Centre.
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Over 5,000 military personnel promoted to coincide with 17th anniversary of victory over terrorism
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