Sirisena disappointed over Cardinal’s comments

Former President Maithripala Sirisena on Monday (05) said he is disappointed over the statement made by Archbishop of Colombo His Eminence Malcolm Cardinal Ranjith on Sunday (04).

His Eminence Malcolm Cardinal Ranjith accused former president Maithripala Sirisena of shirking his responsibilities and acting irresponsibly over the April 21st attacks, that occurred under his presidency.

When reporters questioned Sirisena on the Cardinal’s comments, the former said very little and left.

General Secretary of the Sri Lanka Freedom Party, Minister Dayasiri Jayasekera said Maithripala Sirisena is being targeted to destroy the SLFP.

“There was a Prime Minister and Ministers in that government. Yet, only then-President Sirisena is being held responsible. The statement against the then-President speaks of politics,” said Jayasekera.

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Sri Lanka reports five COVID-19 deaths Monday, toll rises to 586

Sri Lanka confirmed five deaths on Monday due to COVID -19 raising the death toll from the viral disease to 586, according to health authorities.

The Director General of Health Services confirmed the following deaths caused by COVID -19 virus infection and accordingly the total number of deaths due to COVID -19 infection in Sri Lanka is 586 by now.

01. The deceased is an 80 year old female resident from Battaramulla. She was diagnosed as infected with Covid 19 virus while undergoing treatments at Moratuwa Base Hospital and transferred to Mulleriyawa Base Hospital where she died on April 05. The cause of death is mentioned as shock due to blood poisoning and pneumonia associated with a bacterial infection, COVID-19 infection and acute kidney damage.

02. The deceased is a 67 year old male resident in Colombo-10. He was diagnosed as infected with Covid 19 virus while undergoing treatments at Colombo National Hospital and transferred to Mulleriyawa Base Hospital where he died on April 04. The cause of death is mentioned as Covid pneumonia, chronic lung disease and high blood pressure.

03. The deceased is a 71 year old male resident in Jaffna. He has died on April 04 while undergoing treatments at Jaffna Teaching Hospital. The cause of death is mentioned as Covid pneumonia and internal bleeding in liver.

04. The deceased is a 77 year old male resident of Battaramulla. He has died on April 04 while undergoing treatments at National Institute of Infectious Diseases. The cause of death is mentioned as COVID-19 infection, heart disease, high blood pressure, diabetes and neurological disease.

05. The deceased is a 71 year old male resident of Colombo-10. He was diagnosed as infected with Covid 19 virus while undergoing treatments at Colombo National Hospital and transferred to National Institute of Infectious Diseases where he died on April 04. The cause of death is mentioned as COVID-19 pneumonia, and metastasized lung cancer.

SL to resume passenger flights between Jaffna, Chennai

Sri Lanka intends to resume passenger flight operations between the Jaffna International airport and Chennai, India within the next few months, Tourism Minister Prasanna Ranatunga said in a statement.

He said the flight operations connecting the Maldives with South Indian destinations via Sri Lanka would be launched. According to the Minister, several airlines have already initiated talks with the Sri Lankan authorities in this regard.

The Jaffna airport is expected to be developed in three stages. The terminal will be developed to handle 1000 passengers. The runway will also be expanded further to handle even wide-body aircraft.

The Jaffna airport which was formally called the Palali airport had been used by the Royal Air Force during World War II. After independence, it was used for flight connectivity with Indian destinations. After the advent of the civil war in the 1980s, such operations stopped. Since then, the airport has been used by the Sri Lanka Air Force for supplies.

During the time of the previous government, the international flight operations commenced. However, it could not continue due to the pandemic.

Motion presented to appoint PSC to identify changes to election laws and electoral system

Leader of the House Dinesh Gunawardene presented a motion to appoint a select committee to identify appropriate changes to the election laws and electoral system and to recommend necessary amendments.

As per the motion the chair and the members of the committee will be appointed by the Speaker while the committee shall report to the House within six months of its first stings or such extended period as Parliament may grant.

The committee could decide on its quorum, summon any person before it , to require any person to produce any document or record, to procure and receive all such evidence , written or oral as it may think necessary for the fullest consideration, obtain services of specialists and experts in the relevant fields and make interim reports from time to time and sit notwithstanding any adjournment of Parliament.

Mr. Gunawardene said proposals from the opposition will also be welcomed.

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Are you wearing clothes, Cardinal asks Maithripala

In a stunning verbal assault, Archbishop of Colombo His Eminence Malcolm Cardinal Ranjith yesterday (4) called for action to be initiated against former President Maithripala Sirisena without further delay and asked whether the former President has no shame.

“The question arises whether some politicians who have been named as being responsible for the attacks are shameless enough to go before the people once again. I heard that the former President is seeking re-election? How can somebody who knew about the deaths and went abroad contest an election? How can he be the leader of a party? I would like to ask him if he is wearing clothes when he says these things?”

Cardinal Ranjith made these comments speaking to the media after Easter Sunday services held at St. Lucia’s Cathedral in Kotahena yesterday.

“The final report of the PCoI (Presidential Commission of Inquiry) on Easter Sunday attacks clearly indicates the people who were involved in the Easter attack. So why aren’t they punished. The ministers who were involved in this attack are still in Parliament, and this is a shame to the country,” he added.

Participating in the “Black Sunday” silent protest on 7 March and speaking to the media, he said: “We wanted the commission to find out who was behind this attack. We do not know to what extent it has been achieved. I’m reading that (PCoI) report these days. Many of the things recommended in this report can be implemented. It is especially important to enforce the law against those who have committed crimes.”

The Head of the Catholic Church in Sri Lanka said earlier that the Government should be more committed to bringing the perpetrators of the tragedy to justice.

“My feeling is that the Government needs to be more committed to conducting an honest investigation. I wondered if it was necessary to appoint another committee of six members,” he questioned.

“What is needed here is for the President to directly direct himself to what he has to do on a practical level. It would be wrong to choose only a certain part of them and punish them only. This protest movement will continue with the involvement of other religious organisations until we get a definite sign,” Cardinal Ranjith said, adding that this was an issue that affected the people of the whole country.

The six-member committee is also ready to present the report recommendations soon to President Gotabaya Rajapaksa, according to Co-Cabinet Spokesman and Minister of Energy Udaya Gammanpila.

Speaking to The Morning, he said the committee is waiting for an appointment from President Rajapaksa to handover the report.

“Minister of Irrigation Chamal Rajapaksa, who is the chairman of the committee, is still waiting for the appointment,” he said.

Former President Sirisena appointed the PCoI in September 2019 to probe the co-ordinated suicide bomb attacks by terrorists on 21 April 2019, targeting hotels and churches, which cost 270 lives, injured over 500, and destroyed property. Accordingly, the Commission recorded evidence from 457 persons over 214 days to compile the six-volume report.

The report was handed over to President Rajapaksa by PCoI Chairman Supreme Court Judge Justice Janak de Silva at the Presidential Secretariat on 1 February. It comprises 472 pages, 215 annexures, and six volumes. The first and second interim reports were handed over to the President on 20 December 2019 and on 2 March 2020, respectively.

The Commission comprises Chairman Justice de Silva, Court of Appeal Judge Justice Nishshanka Bandula Karunaratne, retired High Court Judges Nihal Sunil Rajapaksha and A.L. Bandula Kumara Atapattu, former Secretary to the Ministry of Justice R. Adhikari, and Secretary to the Commission Buwaneka Herath.

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Govt has printed Rs 40 billion in March alone – Sajith

Leader of the Opposition Sajith Premadasa says that the government has printed money worth Rs 40 billion in the month of March alone.

He mentioned speaking at a program held in Hambantota yesterday (April 03).

Premadasa said, “Rs 40 billion was printed in March alone. Where does this money go? Are they used for public service? Have houses been built for the public? Do youth get jobs? Are the prices of goods going down? Are reliefs given? Nothing is received. The leaders are enjoying luxuries after printing money worth Rs 40 billion.

Back then they promised [the country] will be taken towards prosperity. However, the way money is printed [the country] will not be taken towards prosperity, but towards Zimbabwe.”

The leader of Samagi Jana Balawegaya (SJB) also commented on the depreciation of the Rupee.

He said that when the Rupee depreciated – ‘not as much as now’ – during the previous regime Minister Bandula Gunawardena held press conferences every day and claimed it was the incompetence of the government.

However, now that the Rupee has depreciated to Rs 202 against the US Dollar, Premadasa says he would like to question whether it is the skill or the incompetence of the current government.

“It is now clear that the government can neither manage the Rupee nor the country. That is the current situation.“

Cardinal questions Maithripala’s talks of re-contesting for elections

Speaking to the media following the Easter Sunday Mass at St. Lucia’s Church in Kotahena this morning (04), Archbishop of Colombo Cardinal Malcolm Ranjith urged the government to take legal action against former President Maithripala Sirisena over the 2019 Easter Sunday attacks.

He went on to ask the question of how a President who left the country while knowing that the lives of innocent people were in danger can contest for elections once again.

“No need to delay taking action against him. We ask him to stay at home. How can these leaders ask for more responsibilities now without fulfilling the responsibilities that they already had. Do they have no shame?” the Cardinal asked.

The Cardinal also mentioned that the former president has been named as an offender in the report of the Presidential Commission of Inquiry (PCoI) on the 2019 Easter Sunday attacks.

He said there is no need to appoint new committees to look into the PCoI recommendations again. “We urge the government to simply implement the report without any drama. Ministers who were involved with perpetrators are now in parliament today, this is a disgrace to us. If justice was not delivered before April 21, we will take to the streets,” he said.

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Health Minister sacks NMRA expert who opposed Chinese Sinopharm vaccine approval without data

A national drug regulatory authority member who stood strongly against approving COVID-19 vaccines, especially the Chinese Sinopharm vial, without data, was sacked by Health Minister Pavithra Wanniarachchi on Friday.

Consultant Paediatrician Dr. LakKumar Fernando, a Board Member of the National Medicines Regulatory Authority (NMRA), was the nominee of the Sri Lanka College of Paediatricians.

Not only as an NMRA board member but also as part of the independent eight-member Panel of Experts on COVID-19 vaccines, Dr. Fernando’s stance has been that Sri Lanka should not approve for emergency-use listing any vaccine without proper data, as then the guinea pigs would be the people of this country.

“We as gatekeepers must ensure the protection of the people for whom we are doing this as a service,” Dr. Fernando, who is also a well-known dengue expert, told the Sunday Times. A very bad precedent is being set, he added.

“What the NMRA has been requesting over and again is for Phase 3 efficacy and safety data, as we need to follow the right protocols,” said Dr. Fernando, adding that this was also what the World Health Organisation (WHO) was asking for.

The NMRA has been embroiled in controversy over the Chinese Sinopharm vaccine, with the first four sackings of NMRA Board Members taking place on March 8, followed soon after by the resignation of the NMRA Chairperson, Prof. Asita de Silva.

As rupee plunges, Govt. takes urgent measures to protect foreign reserves and stabilise rupee

As the Sri Lanka rupee hit the 200-mark in relation to the US Dollar this week for the first time, urgent measures to protect foreign reserves and stabilise the rupee will include delays in payments due on Sri Lanka Development Bonds (SLDBs) – a debt denominated in US dollars by the government, until next year and to differ the repayment of foreign currency loans taken by local private banks, the Treasury and the Central Bank have decided.

A senior Treasury official said the moves would help the government to repay foreign loans and meet commitments for International Sovereign Bonds — debt securities issued by the government to raise capital for spending needs. For this year, the total repayments due account for about US$ 4.1 billion.

He said the government was planning to arrange for long-term flexible loans which would serve as another measure.

Among the repayments due is a government commitment to make US$ one billion as a Sovereign Bond payment.

Sri Lanka Development Bond Returns are totally tax free in Sri Lanka, enjoy higher returns than that of a standard deposit and do not involve exchange rate risk.

Those eligible to invest are citizens of foreign states whether resident in Sri Lanka or outside Sri Lanka, Sri Lanka citizens who have made their permanent abode outside Sri Lanka, Sri Lanka citizens who have gone overseas for employment or to set up business or in a profession and Sri Lanka citizens who have dual citizenship provided that those citizens substantiate that their permanent place of abode is outside Sri Lanka.

For Board of Investment companies, SLDB investment should be from their export income while companies registered under the Regulation of Insurance Industry Ac, investment should be from funds from their Special Foreign Currency Accounts.

The moves come in the wake of the country’s Foreign Reserves dropping to US$ 4.5 billion.

The SLDB auction raised USD 24.82 million. At the auction, maturities offered varied from 1 year 2 months to 4 years 2 months at a fixed rate of 6.69 percent to 6.82 percent.

Finance Ministry sources said the next few months were “crucial” in maintaining the foreign reserves and protecting the rupee deprecating even further against the US dollar.

The Sri Lankan rupee was last quoted at 199 against the US dollar on Friday.

In view of the depleting foreign reserves the Central Bank has refrained from intervening to stabilise the rupee. Instead, it will be looking at further improving exports and increasing remittance while awaiting investments through the Port City project. The Government gazetted the Colombo Port City as a Single Window Investment Facilitator last week and declared it as a Special Economic Zone.

Sri Lanka denies plan to delay domestic dollar loan repayments, SLDBs

Sri Lanka’s central bank has denied that repayment of forex loans taken from local banks and dollar denominated domestic bonds falling due will be delayed as the country faced foreign exchange shortages and a foreign reserve drain amid money printing.

“The Central Bank wishes to inform investors and the general public that debt service payments, interest and capital, are being met in a timely manner on account of SLDBs (Sri Lanka Development Bonds) and Foreign Currency Loans from Domestic Banks, as well as all other debt obligations of the Government,” the central bank, which manages debt for the Finance Ministry as its agent said in a statement.

“The Government has no intention to tarnish its unblemished debt service record by delaying the settlement of maturing debt obligations.

“So far, during 2021, on account of SLDBs and Foreign Currency Loans from Domestic Banks, debt service payments of close to United States Dollars 1,200 million have been met, and all due obligations will also be serviced in a timely manner.’

The central bank said the “general public are advised not to get unduly concerned about” such reports.

Sri Lanka’s The Sunday Times newspaper reported that authorities had discussed delaying repayment of dollar loans from domestic banks and Sri Lanka Development Bonds, a dollar security mostly sold to domestic investors, for a year, to meet commitments for International Sovereign Bonds.

Sri Lanka has to repay a billion US dollar International Sovereign Bond in July 2021, as well as meet coupons of about 14 billion outstanding ISBs.

Of the billion dollar bond, about 300 million dollars is owned by domestic holders, the central bank has said. Sri Lankan banks have bought into sovereign bonds at steep discounts.

In May a 693 million SLDB is due and in June a 158 million SLDB is due.

Sri Lanka’s sovereign rating was downgraded to ‘CCC’ in 2020 amid money printing and a weakening of the exchange rate. Delays of debt could push the rating in a country to restricted default category or RD analysts say.

Sri Lanka’s gross official reserves fell to 4,583 million US dollars in February 2021 from around 8.5 billion US dollars in August 2019, when liquidity injections began to target an output gap.

Sri Lanka is expecting save money from inflows in 2021 to repay debt falling due.

Analysts have warned that Sri Lanka will have to maintain solvency in domestic debt markets (sell Treasury bills to banks and the public at a market interest rate and get already existing money instead of printing money and expanding the monetary base) to maintain solvency in dollar debt repayments.

Expanding the reserve money through liquidity injections to keep interest rates down creates forex shortages and forces a peg with the US dollar to break.

The rupee has fallen to around 200 to the US dollar so far this year amid liquidity injections despite the worst import controls since the 1970s.