Apr 7 (DM) Following the resignation of Ali Sabry as the Finance Minister in less than 24 hours, the position still remains vacant with many MPs hesitant to take it up amidst the economic mess Sri Lanka has been plunged into and the rising public anger against the Prez and govt. Sabry resigned from the portfolio, paving way for Prez Rajapaksa to appoint an independent economic expert who would be brought in through the national list, but nothing concrete had worked out as of last night. more..

Apr 7 (FT) SL’s rupee has plunged to a record low to become the world’s worst-performing currency, as Prez Rajapaksa struggles to contain a worsening economic and political crisis. SL rupee was hovering near SLRs300 per US dollar on Wednesday, down 32% year to date and lagging even Russia’s rouble, after Rajapaksa ended emergency rule just days after it was imposed. SL is facing a foreign exchange crisis as more..

Apr 7 (FT) It was the best of times, it was the worst of times. A polity on the street protesting price hikes and essential shortages among other woes, while politicos in the house sought to safeguard their cosy privileges and meal tickets. The writing is on the wall... for many – from the corrupt we elected to the crooks, charlatans and chauvinists who supported them in power. That the surge in civic consciousness is an organic development which is a marvel to behold is not in doubt. more..

Apr 7 (FT) Aujourd’hui, rien – Today nothing. That’s what the haughty and foolish Louis XVI king of France wrote in his diary on the day the Bastille was stormed. Either the man was speechless or too shocked by the demonstration of the common people’s resolve to challenge state tyranny. Watching parliamentary proceedings on the first day after the mass deluge I couldn’t help but recall the words of Louis XVI who may have fully comprehended the cries of the commoners more..

Apr 7 (AD) Three members of the same family have been killed following a collision involving a three-wheeler and a double cab in the Thanamalwila area. The Police Spokesman’s Office said that a father, mother and their daughter who were travelling in the three-wheeler had died after the vehicle collided with the cab. They had reportedly died on the spot while the two vehicles involved in the crash have also been severely damaged. Thanamalwila Police is conducting further investigations regarding more..

Apr 7 (DM) Former SL cricket legend Roshan Mahanama today urged people to keep the pressure and show their disappointment in a very peaceful manner without harming themselves and damaging any property of the country. “As a true patriot of this country, I urge everyone to keep the pressure and show your disappointment in a very peaceful manner without harming yourselves and damaging any property of the country. "Since I have no respect for most of the leaders of our country, more..

Apr 7 (AD) The Surcharge Tax Bill has been passed in Parliament with amendments and without a vote, a short while ago. The committee stage of the Surcharge Tax Bill had taken place this morning (07). The second reading of the Surcharge Tax Bill had been scheduled for today. Last month, the Supreme Court informed Speaker Mahinda Yapa Abeywardena that the Surcharge Tax Bill can be passed with a simple majority in parliament more..

Apr 7 (AD) Colombo Magistrate’s Court today issued an order preventing the former Governor of the CB Ajith Nivard Cabraal from leaving the country. He has been barred from leaving the country until April 18. The order was issued in connection with a complaint filed by former Southern Province Governor Rajitha Keerthi Tennakoon against the former central bank chief under four charges. Cabraal had resigned from his position as CBSL Governor on Monday following resignation more..

Apr 7 (DM) SJB MP Harin Fernando has informed the Secretary-General of Parliament that he would renounce his parliamentary salary for the upcoming year. The MP said yesterday in Parliament that considering the present national crisis he will not take his salary for one year and will not eat in the Parliament canteen. “With regard to the statement I made in parliament yesterday. I hear by renounce my parliamentary salary for the coming year. I believe that that we as public servants more..

Apr 7 (EN) JVP-led NPP will extend its support to the govt in finding a solution to the prevailing economic crisis on the condition that President Gotabhaya Rajapaksa steps down, party leader Anura Kumara Dissanayake said. “There are two factors central to the ongoing people’s struggle, one of which is that the president must no longer be in office. We must accept that,” Dissanayake told parliament. more..

Apr 7 (EN) SL’s main opposition the SJB will table in parliament a proposal to abolish the executive presidency very soon, SJB MP Lakshman Kiriella said. Kiriella’s statement came two days after opposition and SJB leader Sajith Premadasa said parliament must abolish the all-powerful executive presidency within the week. Premadasa said the legislature must also be strengthened without paving the way to a similarly dictatorial premiership while ensuring adequate checks and balances. more..

Apr 7 (AD) As Sri Lanka continues to grapple with an economic crisis and political turmoil amidst growing public agitations, it is reported that a new Cabinet of Ministers is to be appointed in the coming hours. The focus of the special meeting held between PM Rajapaksa and the ruling party’s parliamentary group last night has reportedly fallen on this matter. In addition, the current crisis situation in the country has been discussed at length during the said meeting at the Temple Trees. more..

Apr 7 (AD) Dr. Nandalal Weerasinghe, who is tipped to be appointed as the next Governor of the Central Bank of SL, has arrived in the country from Australia a short while ago. The former Senior Deputy Governor of the Central Bank is expected to officially assume duties as the new CB governor tomorrow. Dr. Weerasinghe was in Australia on a personal visit and had accepted an invitation from President Gotabaya Rajapaksa to take up the post of CBSL Governor amidst country’s economic crisis. more..

Apr 7 (FT) Dr. A.T. Ariyaratne, world-renowned civil activist and former Member of the Constitutional Council, yesterday via a statement stressed that the Govt must stop all forms of suppression of people, who carry out their democratic rights; and the media freedoms, especially the social media, which is widely considered as the fourth force of the present day. He also mentioned the use of emergency laws, curfew, blockage of social media, and the use of Police and Military to suppress the people more..

Apr 7 (AD) SL must look at restructuring a $1 billion sovereign debt due for payment in July, the former finance minister told parliament on Thursday, urging an end to calls for a change in govt amid the country’s worst economic crisis in decades. The opposition and some partners of the ruling coalition rejected calls this week for a unity govt from Prez Rajapaksa after he disbanded his cabinet, in the hope of quelling weeks-long more..

Apr 7 (EN) SL’s power regulator has sought a diesel shipment from the High Commissioner of India through a credit line in place, to avoid power cuts in the country during the upcoming traditional New Year festival. Janaka Ratnayake, Chairman of the Public Utilities Commission of SL said traditional Sinhala and Tamil New Year falls on April 13 and 14. “As the regulator of the electricity industry, it is our responsibility to ensure the uninterrupted power supply for the country during the perod,” more..

Apr 7 (EN) Sri Lanka should go for a tight reserve money program in any IMF program with progressive falling ceilings on domestic assets, and junk the flexible inflation targeting non-regime that has brought economic chaos to the country. The highly discretionary flexible inflation targeting a flexible exchange rate (soft-peg) had brought three currency crises in 7 years, caused misery to 20 million people and left politicians holding the can. The IMF can solve the monetary crisis, more..

Apr 7 (DM) While expressing that the govt has lost faith internationally, former minister Wimal Weerawansa said today that the whole govt, including PM Mahinda Rajapaksa should resign and allow an interim govt to be formed with the participation of all parties in Parliament. He told Parliament that SL should seek at least US$ 4 or 5 billion from friendly nations to increase foreign reserves. But the govt is not in a position to more..

Apr 7 (FT) AIA Insurance Lanka yesterday announced the appointment of Chathuri Munaweera as its new Chief Executive Officer (CEO). The appointment will be effective 1 May subject to approval of the Insurance Regulatory Commission of Sri Lanka. Notably, she will be the company’s first female CEO. The outgoing CEO, Nikhil Advani is relocating within the AIA Group as CEO of AIA Thailand. AIA Group Regional Chief Executive and AIA Insurance Lanka Chairman Bill Lisle said: more..

Apr 7 (Island) Post Master General Ranjith Ariyaratne said yesterday that local and overseas based Sri Lankan scholars should be given the opportunity to enter Parliament and that a pragmatic Monetary Board, consisting of those experts, should be appointed. The Post Master General, who is also the Acting President of the Sri Lanka Administrative Service Association said so attending a special media briefing organised by the SL Administrative Service Association in Colombo. more..

Apr 7 (DM) New Zealand PM Jacinda Ardern said Sri Lanka is experiencing an incredibly tumultuous period as island-wide protests continue amid an economic crisis. Economic blunders have been compounded by the pandemic, resulting in soaring inflation and a shortage of food, fuel and medical supplies. "In terms of the foreign policy implications for New Zealand that's where I am looking to receive an additional briefing over the coming 24 hours from the ministry," PM Jacinda Ardern said. more..

Apr 7 (CT) The JJB queried on what basis the Chairman of Avant-Garde, Nissanka Senadhipathi was permitted to attend meetings of the National Security Council with regard to ongoing public protests demanding Prez Rajapaksa’s resignation. Speaking in Parliament, JJB MP Vijitha Herath queried, “We got to know that before the protest near the President’s private residence in Mirihana, the National Security Council met with a few of its members including Commanders of more..

Apr 7 (DM) Minister GL Peiris pointed out that some of the demands by the demonstrators were not realistic and cannot be met and that they did not seem want a solution based on available options in keeping with the Constitution. While explaining the prevailing situation in SL to the diplomatic corps yesterday he said, the demonstrations were not directly against the govt, a political party or the ruling party but more..

Apr 7 (Island) SL Association for the Advancement of Science (SLAAS), which comprises more than 6,000 active members, and is the apex learned society of the scientific community, have observed with dismay the dire economic situation in the country, which has steadily worsened over the last several months, and is deeply concerned about the accompanying social unrest and political instability. SLAAS, representing the scientific community and an important part of the network of scientists in the country, more..

Apr 7 (USE) Reconsider travel to SL due to COVID-19 and fuel and medicine shortages. Exercise increased caution in SL due to terrorism. Read the Dept of State’s COVID-19 page before you plan any international travel. Visit the Embassy’s COVID-19 page for more information on COVID-19 and related restrictions and conditions in SL. Centers for Disease Control and Prevention (CDC) has issued a Level 3 Travel Health Notice for SL due to COVID-19, indicating a high level of COVID-19 more..

Apr 7 (DM) When the lights went out on March 31 many Sri Lankans would hardly have been surprised. Rationing of electricity has grown commonplace in recent years, particularly since March of this year, when a foreign currency shortage produced a fuel crisis and reservoir levels fell owing to dry weather. Govt has offered a variety of explanations for the blackouts, ranging from dollar shortage to COVID-19 pandemic. more..

Apr 7 (MFA) Minister of Foreign Affairs Prof. G.L. Peiris briefed the Diplomatic corps on 6 April, at the Ministry of Foreign Affairs. In his address, Minister stated that the Govt of SL was fully aware of the severe hardships of the people and its magnitude with the most pressing issues being power cuts, shortage of gas, fuel and essential medicines. The excessive heat which has exacerbated the situation and the negative impact on various industries as a result due to the power cuts more..

Apr 7 (EN) SL’s foreign reserves dropped US$ 372 million to US$ 1.9 billion as money continued to be printed to keep rates down amid a large budget deficit and looming debt repayments. Sri Lanka is following flexible inflation targeting a non-rule bound non-regime that has triggered repeated currency crises over the last 7-years including during an IMF. During the last IMF program a monetary policy consultation clause was easily circumvented to trigger a currency crisis in 2018. more..

Apr 8 (ST) The trio had gathered under the margosa tree and thankfully Aldoris, the choon- paan baker, had resumed his deliveries, although indicating, “Mama danne ne mata me bisness eka kochchara kal karanna puluwan weida kiyala mei wediwena ganan ekka (I don’t know for how long I can continue this business with rising costs).” He was rushing back after selling his breakfast food in the neighbourhood, to join a fuel queue. For the record, queues are springing up all over countryside more..

Apr 8 (DM) The word revolution does not have its origin in politics. It was originally used in astronomy to refer to the rotation of a celestial object around a fixed axis. Later, with the advancement of engineering, the word became associated with engines. The speed of engines is measured in term of RPMs or revolutions per minute. The higher the RPM, the faster the speed of a vehicle. Politically speaking, since March 31, Sri Lanka has been experiencing a high level of RPM, more..

Apr 8 (TM) The ongoing protests demanding a plethora of actions by the Govt including the resignations of Prez Rajapaksa and PM Rajapaksa continue, and they are being joined by people from all walks of life and ages, every day. As protests began on the streets, protests on online platforms also intensified, and social media platforms were flooded with various forms of expressions of opposition against the govt. more..

Apr 8 (DM) How would the current political turmoil in SL possibly end? Will Prez Rajapaksa step down as demanded by the protesters across the country? Namal Rajapaksa who resigned from his Sports Minister portfolio along with other ministers on Friday argues that if the Prez resigns, Parliament will appoint another President, “for the unexpired period of the term of office of the Prez vacating office.” according to the Constitution. The Constitution does not provide for an immediate Prez Election more..

Apr 8 (CT) The proverb is similar to 6.9 million Sri Lankans who believed in Mahinda thrice. Twice in 2005, 2010 and again in 2019. That aura is gone. They accept they were fooled. Hell hath no fury like a people scorned. When Mahinda introduced Gotabaya as his nominee for President in 2019 people chanted Hail Gotabaya. They remembered the walking paths. They remembered the refurbished Dutch Hospital, Independence Arcade, et al. Gotabaya forgot that there were Ministers more..

Apr 8 (TM) Since the beginning of the protests, the Govt made various attempts, some of which were futile, to control protests, and one such step aimed at dealing with rapidly growing protests was the temporary ban on social media platforms such as Facebook, Twitter, YouTube, WhatsApp, Viber and TikTok. Ban on social media commenced at night last Saturday (2), and amidst public opposition and criticism against the move, more..

Apr 8 (TM) A few months ago, Sri Lankans were not expecting to celebrate this year’s Sinhala and Hindu New Year festive season with no electricity, liquefied petroleum gas (LPG), other essentials such as certain food stuffs, and peace of mind. However, the situation is such that the majority of the population will have to refrain from celebrating and instead spend the New Year season in dire situations that they did not anticipate. It is in this context that the Public Administration, Home Affairs, more..

Apr 8 (CT) People are in great difficulty as prices of daily essentials keep rising to a point where daily wage earners cannot afford them. As the Sinhala and Tamil New Year is around the corner, people try to keep their sanity in place since they are not even able to live a day without being stressed. Within a very short period of time cost of living has increased unbelievably. Living a day at ease has simply become a matter of survival. This country is in a great loss and it is affecting not only the poor, more..