Wimal hints at forming new opposition group

Former Minister and Government MP Wimal Weerawansa has hinted at moves to form a new opposition group and sit in the opposition benches in Parliament.

Speaking during a live television program last night, Weerawansa said that he and former Minister Udaya Gammanpila are currently sitting as independent MPs in Parliament.

Asked if he is now a member of the opposition, Weerawansa responded saying “not yet”.

He said that there are several political parties in the opposition, including the Samagi Jana Balawegaya, JVP and Tamil National Alliance.

Weerawansa said that there is a move no form a new group in the opposition and several are expected to join it.

The former Minister said that their intention is to ensure the Government loses its majority in Parliament.

He said that if the Government loses its majority then there will be pressure on Finance Minister Basil Rajapaksa to step down.

Weerawansa said that what is required today is not for the President to step down but for the Finance Minister to be removed.

Jaishankar inaugurates India-made Jaffna Cultural Centre in Sri Lanka

External Affairs Minister (EAM) S Jaishankar and Sri Lankan Prime Minister Mahinda Rajapaksa on Monday virtually inaugurated the Jaffna Cultural Centre constructed by Indian grant.
In Colombo, both ministers witnessed the signing of an agreement on supporting Buddhist culture and heritage. They also virtually toured an ongoing camp in Jaffna on fitting ‘Jaipur Foot’.
“Thank Prime Minister @PresRajapaksa for his gracious welcome. Our discussions were followed by some notable events: Witnessed the signing of an agreement on supporting Buddhist culture and heritage. Virtually toured an ongoing camp in Jaffna on fitting ‘Jaipur Foot’. Virtually inaugurated the Jaffna Cultural Centre constructed by India,” Jaishankar tweeted.

The purpose of the Jaffna Cultural Centre is to provide suitable social infrastructure for the people of the Northern Province, especially for the people of Jaffna, to help them to reconnect with their cultural roots as well as to the rest of the country and to rejuvenate and nurture the ancient cultural heritage of Jaffna.

The Centre will enable the people of Jaffna to enjoy various local and international cultural products. It would also serve as a delivery centre for training, instruction and education in a variety of cultural disciplines. The Centre is developed as an iconic building that will emerge as a cultural forum that embodies coexistence and cooperation amongst the various communities on the island.

Jaishankar arrived in Colombo on Sunday. He called on Sri Lankan President Gotabaya Rajapaksa as part of his three-day visit.

He reviewed various dimensions of India-Sri Lanka’s close neighbourly relationship and assured Gotabaya of India’s continued cooperation and understanding.

“Pleased to call on President @GotabayaR of Sri Lanka. Reviewed various dimensions of our close neighbourly relationship. Assured him of India’s continued cooperation and understanding,” Jaishankar tweeted.

During the meeting, Sri Lankan President thanked Jaishankar for assistance in form of a USD 1 billion credit line.

“Met with Indian Foreign Minister @DrSJaishankar today, and I expressed my gratitude to the Government of #India for the invaluable assistance provided recently via the line of credit, on behalf of the people of #lka,” wrote the official Twitter account of The President of Sri Lanka.
During his bilateral visit, Jaishankar will also attend the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) meeting.

(ANI)

SLPP squashes rumours: Ranil Won’t be Appointed PM

Sri Lanka Podujana Peramuna (SLPP), while challenging the recently ousted MPs Wimal Weerawansa and Udaya Gammanpila to make the Government lose its majority in Parliament, as they claimed they would, also squash speculation that UNP Leader, Ranil Wickremesinghe would soon be appointed as Prime Minister of a soon-to-be-formed National Government.

SLPP MP and Minister Rohitha Abeygunawardena addressing a media briefing yesterday (28) when Gammanpila and Weerawansa have time and again said the Government will lose its majority in Parliament but has not done anything to that effect.

Abeygunawardena said, certain people have issues with the Minister of Finance Basil Rajapaksa and are trying to slander him, noting that Rajapaksa was the one who formed the SLPP and has worked relentlessly to make it victorious.

He rejected claims that UNP MP Wickremesinghe would be appointed Prime Minister. Meanwhile, General Secretary of the SLPP Sagara Kariywasam added the most suitable person to be Prime Minister is currently in office and there is no need to make any change.

Kariyawasam said the Government is strong and will overcome the economic crisis and will secure a huge win in the next election.

Weerawansa on 23 March, stressed that they will ensure the Government would lose its majority in Parliament, while visiting Malwathu and Asgiri Maha Nayaka Theras in Kandy to present proposals of 11 constituent parties of the Government.

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Crisis-hit Sri Lanka seeks further US $ 1bn credit line from India: sources

REUTERS: Sri Lanka has sought an additional credit line of US $ 1 billion from India to import essentials amid its worst economic crisis in decades, two sources said yesterday, as the Indian foreign minister began talks with the government of its neighbour.

The island nation is struggling to pay for essential imports of food and fuel after a 70 percent drop in foreign exchange reserves since January 2020 led to a currency devaluation and efforts to seek help from global lenders.
New Delhi has indicated it would meet the request for the new line, to be used for importing essential items such as rice, wheat flour, pulses, sugar and medicines, said one of the sources briefed on the matter.

“Sri Lanka has requested an additional US $ 1 billion credit line from India for imports of essentials,” the second source said.
“This will be on top of the US $ 1 billion credit line already pledged by India.”
Both sources declined to be identified as the discussions were confidential.
The finance and foreign ministries of Sri Lanka, as well as India’s foreign ministry, did not immediately respond to requests seeking comment.

Sri Lankan Finance Minister Basil Rajapaksa signed the earlier credit line of US $ 1 billion this month in the Indian capital of New Delhi to help pay for critical imports.
Indian Foreign Minister Subrahmanyam Jaishankar met Rajapaksa yesterday after arriving in the Sri Lankan capital of Colombo late the previous day.

“Discussed the economic situation and India’s supportive response,” Jaishankar said on Twitter, with a photograph of the two officials next to each other.

In addition to the credit lines, India extended a US $ 400 million currency swap and a US $ 500-million credit line for fuel purchases to Sri Lanka earlier this year.

Sri Lanka’s imports stalled, causing shortages of many essential items, after foreign currency reserves fell to US $ 2.31 billion by February.

The nation just off India’s southern tip has to repay debt of about US $ 4 billion in the rest of this year, including a US $ 1 billion international sovereign bond that matures in July.
Rajapaksa is set to fly to Washington, D.C. next month to start talks with the International Monetary Fund (IMF) for a rescue plan.

“India is also very supportive of Sri Lanka’s decision to seek an IMF programme and has given their fullest support,” one of the sources added.

Foreign Minister briefs South African Ambassador on reconciliation efforts

Minister of Foreign Affairs Prof. G.L. Peiris discussed the reconciliation efforts underway in Sri Lanka with Ambassador of South Africa Sandile Edwin Schalk, at the Ministry of Foreign Affairs last Friday (25), as per a Foreign Ministry media release.

The ministry stated that the main focus of the discussion was the experience of the Truth and Reconciliation Commission of South Africa. The Foreign Minister explained to the Ambassador that it was the intention of the Government of Sri Lanka to closely study the positive experiences of other countries, while taking care to ensure that these experiences were creatively adopted to suit the circumstances of Sri Lanka.

Ambassador Schalk comprehensively briefed Prof. Peiris on all aspects of the process in South Africa, and on various initiatives by former South African President Nelson Mandela upon his election as President.

Prof. Peiris had said last week, at a media briefing held jointly with US State Department Undersecretary for Political Affairs Victoria Nuland, following the fourth Sri Lanka-US Partnership Dialogue in Colombo, that the Government hopes to develop a truth-seeking mechanism, similar to the one used in South Africa, as part of Sri Lanka’s reconciliation process.

“The Nawaz Commission of Inquiry (CoI) report is very informative. One of its recommendations that we want to develop is the truth-seeking mechanism. Here, we do not wish to reinvent the wheel. There is no purpose in going back. No two situations are exactly alike, when we look at the experiences of other countries such as South Africa in particular. But we are always taking care to adopt the successful experiences of other countries to suit the circumstances in our country,” Prof. Peiris had said.

He added that the assistance of the US is “most welcome” in this endeavour of a truth-seeking mechanism.

Nuland had said that the notion of setting up a truth-seeking mechanism is a “very good step” and that the US looks forward to supporting Sri Lanka in that process.

“Setting up a truth-seeking mechanism, as other countries with difficult histories have done, particularly taking advantage of the South African experience, is a very good step,” she noted.

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Dissenting parties plan to dissolve Parliament

The 11 parties which unveiled their own manifesto recently, despite being the coalition partners of the incumbent Sri Lanka Podujana Peramuna (SLPP)-led Government, plan to present a motion to Parliament to dissolve Parliament, as soon as nine more SLPP Members of Parliament (MPs) join their group.

Speaking to The Morning yesterday (27), Pivithuru Hela Urumaya (PHU) Leader MP Udaya Gammanpila said that only nine more MPs need to join their group to pass a motion to enable the dissolution of Parliament, as there are two SLPP MPs with them already.

“We need only 11 SLPP MPs to defeat the Government. However, when a motion is submitted to Parliament, there may be last-minute changes in the minds of certain MPs. For instance, MPs are vulnerable to various perks such as ministerial portfolios, vehicles, and cash rewards. There may also be threats to expose certain MPs’ misconduct and corruption. Therefore, we need MPs three times higher than the actual requirement, so we need 33. This is so that we can be 100% confident that a motion is passed in Parliament. Right now, we have 24 and as soon as the remaining nine MPs join us, we plan to submit such a motion,” he said.

The said 11 parties including the National Freedom Front (NFF), the PHU, and the Sri Lanka Freedom Party (SLFP) last week warned that they would soon collectively take away the parliamentary majority of 113 seats enjoyed by the current Government.

Asked if they would be able to get the support of the remaining nine MPs any time soon, Gammanpila said that the support of those MPs would be delayed if the public was to receive some relief thanks to the Indian credit line. However, he claimed, even if so, “things” would worsen again in some time, and that it would be possible to get the MPs’ support at such a time.

When the said 11 political parties’ representatives met the Mahanayakes (chief prelates) of the Malwathu and Asgiri Chapters of the Siam Sect on 24 March, Gammanpila said: “Our 11 parties have 30 MPs. When those 30 are removed, the Government will be left with only 124 seats. As soon as another 12 MPs quit the Government, it will lose its parliamentary majority. Because of the mad things this Government is doing, there are far more than 12 MPs who are extremely disappointed and disillusioned.”

NFF Leader and SLPP Government MP Wimal Weerawansa, during the meeting and speaking to the media afterwards, stated that it would not be difficult to take away the parliamentary majority of the Government.

“An all-party conference was convened for all parties to work together in unity, but Finance Minister Basil Rajapaksa has shown that he is arrogant so much so that he called a former Prime Minister (a reference to incumbent United National Party (UNP) Opposition MP Ranil Wickremesinghe) ‘you’. He wants to create a conflict there as well. This country cannot move forward with such an arrogant, ‘ugly American’. We will soon end this Government’s majority of 113 seats and thereby put an end to this arrogant regime,” he claimed.

Following the said 11 parties of the Coalition Government having unveiled the “Mulu Ratama Hari Magata (the entire country on to the correct path)” document – a set of proposals to overcome the current economic crisis in the country – on 2 March, Weerawansa was removed from the post of Industries Minister. In addition, Gammanpila, who attended the launch of the said proposals, was also removed from the post of Energy Minister.

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Sri Lanka, India bilateral naval exercise in Sea of Sri Lanka

A bilateral naval exercise between Sri Lanka Navy and Indian Navy commenced in seas off Colombo on 26th March and it will be held until 29th March.

The exercise is being conducted by Sri Lanka Naval Ship Sayurala and the shipborne Advance Light Helicopter – IN 715 of Indian Naval Ship Sharda, which arrived in Colombo on 23rd March.

Chief among the exercises demonstrated were deck landing and communication exercises between the ship and helicopter. The exercise is also joined by a group of personnel from Sri Lanka Air Force.

This bilateral naval exercise is expected to increase operational readiness and interoperability between both navies when conducting coordinated search and rescue operations, anti-smuggling operations in the Indian Ocean Region as well as to strengthen cooperation between both partners.

Further, this kind of naval exercises will pave the way to find collective solutions to common maritime challenges in the Indian Ocean Region as well.

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Give the Finance Minister post to PM – Ven. Muruththettuwe Ananda Thero

Venerable Muruththettuwe Ananda Thero says that in order to minimize the public dissatisfaction which has built up towards the government, the Finance Minister’s position should be handed over to the Prime Minister.

Speaking to reporters in Colombo, the Chief Incumbent of the Abhayarama Temple in Narahenpita said that the people of the country did not appoint a government to stand in queues or stay in the dark or travel by foot.

He said that the aspiration of the people was to develop this country and build a beautiful Sri Lanka. The Chancellor of the University of Colombo said that although 69 lakh people voted to give power to the government, it is not listening to those 69 lakh people.

He accused the government of listening to only one person and doing that person’s work and that this has led to an increase in the public’s dissatisfaction.

He proposed that to minimize the disappointment and frustration of the people, the Minister of Finance Basil Rajapaksa should be handed another development task, and the the affairs of the Ministry of Finance should be handed over to the Prime Minister for him to take the country forward.

The Venerable Thero said their only demand is that the President continues to hold the presidency.

He said that if this “era of queues” continues for much longer the people of the country will fall from the prying pan to the fire.

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Sri Lanka Crisis: India Helps, China Holds Back -NDTV

Hi, This is Hot Mic and I’m Nidhi Razdan. This week, you may have seen the heart-wrenching pictures of a batch of Sri Lankan refugees arriving on the coast of Tamil Nadu. Including little children, one as young as four months old. They are fleeing an unprecedented economic crisis in their own country. The situation in Sri Lanka is so bad at the moment that there is a shortage of food, a shortage of fuel, long power cuts and a massive rise in prices across the board. Intelligence agencies in Tamil Nadu say that thousands more may land upon Indian shores in the next few weeks. So why has this happened? What has caused this economic crisis – the worst that Sri Lanka has ever seen?

The meltdown has been driven by a shortage of foreign currency, which has led to a reduction in the imports of essential items. Sri Lanka depends heavily on imports, whether it’s for essentials like food, sugar, daal, petroleum, paper, medicines, cement and much, much more. The shortage of foreign currency has hit these imports badly, so badly, in fact, that the Sri Lankan government has had to cancel all examinations for schools for millions of children simply because they didn’t have paper. There have been long queues of people waiting to buy food and fuel. Angry protests have also broken out on the streets.

On Tuesday, the army was sent in to prevent protests from breaking out at petrol pumps because people had begun protesting there. There were reports that three people died while waiting for fuel in a queue for several hours. So how has the shortage of foreign currency actually happened?

Well, last week Sri Lanka’s president said in an address to the nation that the country has a trade deficit of $10 billion. This basically means that the country imported more items last year than it exported. That means more money went out of the country and less money came into the country. Over the years, this policy has led to a shortage of foreign currency within Sri Lanka. The collapse of Sri Lanka’s tourism industry is a major reason for this, since it contributes to around 10% of the country’s GDP. The 2019 serial bomb blasts across Colombo during Easter had already hit the country’s tourism sector. And then the last couple of years of the pandemic have made things exponentially worse. Another reason that Sri Lanka’s foreign currency reserves have gone down is that foreign direct investment into the country has also plummeted over the last few years. If you look at government data, FDI into Sri Lanka decreased to $540 million in 2020 compared to $793 million the previous year. And $1.6 billion in 2018. In this crisis, Sri Lanka has turned to other countries for help, including India.

On the 17th of March, India announced a $1 billion line of credit to Sri Lanka to procure food, medicines and other essential items. Last month, India extended a $500 million line of credit to Sri Lanka to help it buy petroleum products. But ironically, one of Colombo’s closest friends, China, has actually added to their problems and turned out to be less dependable than they had hoped. Sri Lanka has been borrowing recklessly from China over the last few years to fund its infrastructure projects. Before the pandemic, Sri Lanka owed China, about $5 billion amounting to 10% of the country’s external debt that is dominated by sovereign bonds. Faced with the economic crisis now, President Rajapaksa had asked China to restructure its debt to the country.

But according to a report in the Hong Kong Post a few days ago, Beijing actually turned its back on Colombo. Publicly, China has only said that the two sides are negotiating the matter and hasn’t given any specific details. In recent days, soon after New Delhi extended help to Sri Lanka, Sri Lanka sought a new loan and buyer’s credit from China for $2.5 billion. It’s interesting to note here that President Rajapaksa has been seen as pro-China. But over the last year or so, the mood within Sri Lanka has turned more wary about Beijing. A lot of the debt burden on Sri Lanka is a result of China’s Belt and Road Initiative projects like the Hambantota Port and Colombo Port City, for which Chinese agency lent large amounts to Sri Lanka under stiff terms of repayment.

A media report recently said that China-assisted projects in Sri Lanka are likely to deepen the debt of the island nation. Moreover, locals have been protesting against some of these projects which they say will affect their livelihoods. One of these projects is an industrial park attached to the Hambantota International Port, which has incited violent protests by locals because they fear that the area will turn into a Chinese colony. As a result of all of this, Sri Lanka may be reassessing the extent to which it can bank on China At the end of the day, India has turned out to be a more dependable neighbour.

Citing Sri Lankan crisis, Kerala Finance Minister asks Centre to correct its policies

Citing the financial crisis in Sri Lanka, Kerala Finance Minister K N Balagopal on Sunday said that the Central government should correct its policies and added that states should be given Goods and Services Tax (GST) compensation and additional grants.

“Central government should look into the financial crisis of Sri Lanka which is happening due to international policies. The Indian government is also following the same and should correct its policies. States should be given GST compensation and additional grants,” Balagopal told ANI.
“The price hike is a basic issue which we would be going to face in a big way. The cost of administration and cost of living will be increasing in every sphere, which will get very difficult for the state,” said Balagopal.

Sri Lanka’s economy has been in a free-fall since the COVID-19 pandemic due to the crash of the tourism sector. The country’s foreign reserves have dried up and the country is facing a severe shortage of fuel and other essential commodities.

Sri Lanka’s currency has devalued by almost SLR 90 against the US dollar since March 8, as the country’s central bank attempts to stabilise the economy.

India provided more than USD 500 million in foreign currency swaps to strengthen Sri Lanka’s foreign reserves, taking the total up to USD 900 million. India also extended the repayment time frame for the USD 500 million debt of Sri Lanka under the Asian Clearance Arbitration. (ANI)