Author: Branita

India, Lanka close to sealing 3 defence-related pacts to boost maritime security

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India and Sri Lanka had close to firming up three defence-related pacts and arrangements to boost maritime security ahead of Sri Lanka finance minister Basil Rajapaksa’s visit this week.

Ahead of a visit by Sri Lanka finance minister Basil Rajapaksa to India this week, the two countries are close to finalising three defence-related agreements and arrangements that are expected to boost cooperation for maritime security.

Rajapaksa, the younger brother of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa, has been coordinating with the Indian side to firm up an economic assistance package to help Sri Lanka tide over a severe balance of payments crisis. He is expected to visit New Delhi during February 25-26, his second trip to the Indian capital since December.

While a $1-billion line of credit to be provided by India to Sri Lanka to purchase food, medicines and essential items will be the focus of Rajapaksa’s visit, the two sides are close to finalising three defence-related agreements and arrangements that will bolster the capabilities of Sri Lanka’s armed forces and boost cooperation for maritime security.

In addition to agreements for the purchase of two Dornier aircraft and the acquisition of a 4,000-tonne naval floating dock by Sri Lanka, Colombo has agreed to post a naval liaison officer at the Indian Navy’s Information Fusion Centre-Indian Ocean Region (IFC-IOR) in Gurugram, people familiar with the matter said.

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Tense situation in Parliament as Harin attempts to shed light into power crisis

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The Parliamentary debate was adjourned for 10 minutes on 24th February due to MP Harin Fernando’s attempt to convince the Parliament of the impact of power cuts on the public, by bringing a torch to the Parliament.

The Leader of the House, Dinesh Gunawardana informed the House that a confrontation broke out when the Police had requested to examine an object brought by an MP to the Parliament and emphasized that such actions can have consequences as MPs are not permitted to bring such objects.

SJB MP Fernando, responded to the allegations stated that a power cut could occur when he is using the washroom, and that is the reason why he brought three torches to use.

Minister Gunawardana responded stating that an investigation should be conducted as such objects are not permitted within the Parliament, and even if there is a power cut, it’s clear that this action is unlawful and goes against parliamentary practices.

This object could prove to be a security risk and must be banned, he added.

Swiss Bank Exposé: Names of 40 Lankans Revealed; US$ 50 Million in Secret Accounts

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Some 40 Sri Lankans stashed away around US$ 50 million in secret Swiss bank accounts, according to details made available exclusively to the Sunday Times by the US based International Consortium of Investigative Journalists (ICIJ). The details were obtained by the ICIJ from the French newspaper Le Monde and led to many collaborative projects by the ICIJ in what came to be known as Swiss Leaks. The Sri Lankans are among 100,000 clients of the HSBC Private Bank (Suisse) worldwide. The names and account details are in a trove of 60,000 leaked files covering up to 2007. The highest amounts remaining in the accounts during 2006-2007 under different Sri Lankan names are available.

The largest amount is in the name of Edmund Wijenaike Balasuriya and members of his family. Mr. Balasuriya is described in bank documents as the “owner of a shop of games” with an address in Colombo north. The Balasuriya family amounts listed in the balances add up to US$ 16,325,742 which at today’s exchange rate works out at more than two billion rupees. Together with his wife, his account balance is shown as US$ 10,668,094. The balance in the name of his daughter Lakshmi Fernando is listed as US$ 1,989,370. His son Rohan Balasuriya, the records show, has a balance of US$ 1,975,594. Three other sons – Mahendra, Lakshman and Asoka – reflect the same balance of US$ 1,975,319 each in accounts under their names.

Documents from the HSBC describe the Balasuriya family as being “good clients of ours for many years and retain an account in Barclays Bank Suisse holding several million dollars.” Among some 17 Sri Lankans whose names appear as having closed their accounts are Jeevaka Lalith Bhupendra Kotelawala, the holder of the country’s highest national honour – Deshamanya — and head of the beleaguered Ceylinco Consolidated. His Golden Key Credit Card Company collapsed in 2008 owing millions of rupees to clients who are still fighting court action.

Mr. Kotelawala opened his account on December 21, 1988 and closed it on March 3, 1997. Also opened and closed on the same dates was an account in the name of Daya Ranjit Senanayake, described in Colombo business circles as Mr. Kotelawala’s deputy at one time. The Sunday Times is in possession of all details related to the Sri Lankan secret account holders. They include their IBAN (International Bank Account Numbers), dates of birth, listed addresses, dates of opening of account, dates of closure and other related details. Whilst some operated accounts giving Sri Lankan addresses, they were found to be residents in countries including Australia, Britain and Canada. At least one was an attorney representing a ‘client.’

Exchange Controller D.M. Rupasinghe declined to comment when the Sunday Times asked whether Sri Lankans were allowed to open bank accounts overseas, particularly secret offshore accounts. He only cited the Exchange Control Act which requires the permission of the Central Bank (CB). Another high ranking CB official who spoke on grounds of anonymity said no clearance was given for any Sri Lankan to operate offshore “secret” accounts since they were illegal and a mechanism to avoid tax payments.

The HSBC Private Bank (Suisse) was accused of knowingly aiding thousands of individuals to evade taxes and break other financial laws of a number of countries. The bank’s Chief Executive Officer, Stuart Gulliver, extended his “sincerest apologies” after his bank was charged with helping clients conceal their identities to avoid taxes on deposits. The apology was printed as large advertisements in British and other foreign newspapers.

The second highest amount in the secret accounts is held in the name of Subramaniam Surendran, a Colombo businessman and his wife. He is described in local trade circles as one who did a large volume of business with the Ceylon Electricity Board (CEB). They are shown together in two separate accounts as holding US$ 13,129,904. While his balance is reflected as US$ 6,564,952 in two accounts, his wife Charlotte Ranjitha, described as a ‘housewife’ held a balance of US$ 6,495,287.

The names of others who are listed as holding large sums are Anura Leslie Perera (Bandarawela) US$ 1,692,959. He is described as an attorney and was reportedly representing an account holder. Others are Aruna Rajendran Vasvani (Colombo) US$ 1,384,149, Nikhil Kishore Hirdaramani (Colombo) US$ 817,446, Vinod Kishore Hirdaramani (Colombo) together with Leena Vinod Hirdaramani US$ 646,243

Man arrested by Met’s War Crimes team as part of Sri Lankan murder investigation

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The Met’s War Crimes team are appealing for information as part of an ongoing investigation into a murder committed in Sri Lanka more than 20 years ago.

Officers from the War Crimes Team – part of the Counter Terrorism Command – arrested a 48-year-old man at an address in Northamptonshire on Tuesday, 22 February as part of a proactive operation.

He was arrested on suspicion of offences under Section 51 of the International Criminal Court Act 2001. He was taken into custody, and has since been released under investigation.

The arrest relates to the murder of journalist Mylvaganam Nimalarajan who was killed in 2000.

Mr Nimalarajan’s family have been informed of this development, and they are being supported by specialist officers.

Enquiries continue, and officers are eager to hear from anyone who may have information that could assist the investigation – particularly members of the Sri Lankan community who emigrated to, and now reside in, the UK.

Commander Richard Smith, who leads the Met’s Counter Terrorism Command, said: “This is a significant update in what is a sensitive, complex investigation.

“There will still be people who may have information, particularly in relation to the murder of Mr Nimalarajan, and we would urge those people to come forward and help achieve justice for Mr Nimalarajan’s family.”

The Met Police War Crimes Unit sits within the Met Police Counter Terrorism Command. It is committed to investigating and bringing to justice anyone who may fall under the UK’s jurisdiction and who is suspected of committing war crimes, crimes against humanity, genocide or torture anywhere in the world. This approach directly supports the UK Government’s ‘no safe haven’ policy.

Such investigations often require enquiries to be made overseas and evidence to be secured from abroad, so they can be very complex and lengthy.

All allegations of war crimes referred to the War Crimes Team are considered, assessed and dealt with in line with the War Crimes/Crimes Against Humanity referral guidelines, which are jointly agreed with the Crown Prosecution Service (CPS).

The War Crimes Team is part of the UK War Crimes Network, which is comprised of a number of key bodies, including the Foreign, Commonwealth and Development Office, Crown Prosecution Service and other government and non-government organisations, all working together to ensure the UK is not a safe haven for war criminals.

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EC holds talks with Secretaries of recognised political parties

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A discussion was held today between the National Election Commission and Secretaries of recognised political parties.

The meeting was held over four hours.

Political party representatives speaking to media after the meeting said preparations for future elections, the compilation of the Voter Register and other matters were discussed at length.

They claimed political parties are prepared for elections at any given time.

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Sri Lanka settles payment for 37,500 MT diesel shipment

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Udaya Gammanpila, Minister of Energy said that US$ 35.3 million was paid for the 37,500 metric tons of diesel on board the tanker ship which had been docked for four days outside the Port of Colombo.

Mr. Gammanpila further stated that the payment for the oil imported from a Singaporean company was paid last night and consignment of will be unloaded as soon as possible.

Sri Lankans are experiencing island wide power cuts due to the lack of fuel for power plants as a result of shortage of dollars.

At the special cabinet meeting convened yesterday, the President has instructed officials to take steps to ensure a continuous supply of fuel.

India willing to make investments in Sri Lanka

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India is willing to make investments in Sri Lanka to help it ease a financial crisis, the Reuters news service quoted Indian Foreign Minister Subrahmanyam Jaishankar as saying.

Sri Lanka has been suffering a severe shortage of foreign exchange, leading to widespread power cuts in recent days after being left unable to pay for fuel shipments.

Finance Minister Basil Rajapaksa is to travel to India again as the relationship between both countries strengthens.

Rajapaksa, who was in India in December, will travel to New Delhi again.

During the upcoming visit Rajapaksa will sign a USD 1 billion financial assistance deal with India.

Meanwhile, Indian Prime Minister Narendra Modi has been invited to visit Sri Lanka in March to attend the BIMSTEC Summit.

Sri Lanka Ports Authority to waive penalties for delayed containers as dollar bites

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The Sri Lanka Ports Authority (SLPA) is in the process of waiving demurrage charged on containers at the SLPA-owned Colombo port after importers failed to clear them on time amid forex shortage, officials said.

‘’We are still at the primary stage of examining documents and we are still not sure about the amount that will be waived off,” a senior SLPA official told EconomyNext on Tuesday (23).

“We can’t even be sure of the exact number of requested waivers as we have received many in a short period.’’

The island nation’s main port saw hundreds of containers stuck in its dockyards as importers struggled to clear them because they could not open letters of credit or secure adequate US dollars.

The government has given priority to clearing essential food containers to avert a possible food shortage and arbitrary price increase in essential commodities amid higher demand.

The SLPA has already called for documentary evidence to review the eligibility for waivers, as a special concession to importers, towards cargo landed at SLPA-owned terminals (JCT & ECT) pending clearance up to January 31, 2022, in the wake of the prevalent foreign exchange situation.

The SLPA has said “some number of consignments [are] lying uncleared over a significant period of time”.

Importers have complained of no US dollars to clear their imported containers since the last quarter of 2021.

“The individuals have to bring in documents from the bank to prove that they could not pay the fees due to the forex crisis,” another senior SLPA official told EconomyNext.

“Every day we get many documents, and we are working to get them all processed. We are giving preference to food items like rice, sugar, and so on.”

Neither official commented on the total number of containers stuck in the port but claimed that it was not 2,000 as reported in media.

‘That it is not true. At any given time there are a lot of containers coming and going from the dockyards. I don’t know from where these figures went to the media, but there is no such problem.’’

In January 2019, only 10.10 percent of cargo remained in the dockyards for over a week. In January this year, the figure has increased to 11.59 percent. SLPA officers said, ‘There’s an increase but not as drastic as reported, and it is not even worth mentioning.’’

“At this time we were made aware that we don’t need to earn a super profit and charge unnecessary charges to take advantage of this crisis. So the decision to remove the demurrage and penal costs were made while thinking of the importers.’’

Massive drug shortage within three months: Pharmacy owners’ Assn.

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A massive drug shortage is imminent as the existing backup stocks of medicines are due to be used up within three months, All-Island Private Pharmacy Owners’ Association (ACPPOA) President Chandika Gankanda said.

He told the Daily Mirror that the country has a 5% shortage of required medicines.

“Medications are labelled with different identification brands. Most of the pharmacies used to give alternative brands to the consumers as the requested brands were out of stock. With the current backup stocks, he believes this practice can not be sustained for long.

If the government does not intervene, there would be a huge issue, which is more than the shortage of cement, domestic gas, and milk powder. Everything in the country is based on people’s health. He said if people suffer from ill health, we cannot think of a future.

“With the current dollar crunch in the country, the manufacturers and importers are unable to manufacture or import the required medicines as they are higher in price. If some of the drugs they import are subject to price control, they cannot sell them in the local market. Most of the drugs are sold at controlled prices.

“If the shortage continues, there would be a possibility of a shortage of insulin (medication). Most of the local drug manufacturing companies used to keep buffer stocks that were sufficient for three months. Therefore, the country does not feel it, “Gankanda said.

Manufacturing of certain products in the country have slowed down due to higher raw material import costs.

If the government cannot remove the control price on certain drugs, they should introduce a price formula that fluctuates according to the dollar rate.

Hence, most of the popular drugs such as paracetamol, Panadol, Panadein, Frisium, normal saline and zinnat are found to be in shortage. Also, there is a shortage of antibiotic syrups given to children in the country.

Mr. Gankanda said that the demand for paracetamol tablets has increased not because of the triple threat of Omicron, dengue, and viral flu in society, but because of not having a sufficient supply.

A list of district wise drug shortages are as follows:

Paracetamol, Panadol, Panadein, Nitrofufurantoin, Nitrocontin, Norfloxacin, Magnesium sulphate (powder), Manorest Oxetol Phenobarbital, Frisium 10mg (keolax), Normal saline, Nitrofurantoin Normal saline, Amikacin injection, Oxetol 300, Azee 500mg, Zinnat 500mg, 250mg Tolbutamide, MINIPRESS XL, TNT.