May 19 (DM) The newly-elected PM Ranil Wickremesinghe warned Monday that the crisis-stricken nation was down to its final day of petrol and Minister Kanchana Wijesekara urged residents not to join the long lines at petrol stations that have sparked weeks of anti-govt rallies. As part of the measures designed to cope with the country’s most significant economic crisis in decades the PM also advocated privatising SriLankan airlines. more..

May 19 (GV) Sri Lanka is grappling with its worst economic crisis since its independence in 1948. But amid this serious economic situation, Tamils on the island and around there world are going to commemorate the 13th anniversary of the civil war’s end on May 18, a war that lasted from 1983 to 2009, ushering in the so-called Mullivaikkal massacre committed by the SL Army. Almost at a similar time every year on May 15, around 12.4 million Palestinians around the world commemorate more..

May 19 (Island) Retired Supreme Court Justice Rohini Marasinghe, in her current capacity as the Chairperson of the Human Rights Commission of SL (HRCSL), directed the police to provide adequate protection for the Prez and PM while protecting the freedom of speech and assembly through necessary and proportionate measures. Justice Marasinghe, who received the appointment in Dec, last year, would never have believed she would be compelled to issue such a statement. more..

May 19 (TM) The Govt seems to be taking every possible measure to stabilise the crisis-ridden country with a focus on strengthening the country’s foreign reserves situation, one of the main reasons that has led to the economic collapse. The country has had to deal with not only dwindling foreign reserves – which, according to PM Ranil Wickremesinghe, has declined to less than $ 1 million – but also newer challenges faced by more..

May 19 (TM) Media freedom is a promise that has been common among every government that comes to power, although each of their tenures has, equally commonly, been marked by incidents that have violated or undermined media freedom. The latest of such incidents was reported on Tuesday, sadly from the venue that is meant to set an example for the rest of the country – Parliament. According to reports, two SLPP MPs had allegedly snatched the mobile phones of two journalists – more..

May 19 (CT) Not since the arrest of the then ruling UPFA Govt’s former Tangalle PS Chairman Sampath Vidanapathirana, a confidant of the then UPFA leader and Prez Mahinda Rajapaksa, 8 years ago in 2014, for the murder of a British citizen, committed three years earlier in 2011, has action being taken against ruling SLPP Govt politicos and their supporters for any acts, until violence was unleashed earlier this month on peaceful protesters in front of Temple Trees and at Galle Face. more..

May 19 (TM) These days, many discussions are taking place concerning the issue of restoring democracy by way of undoing the Executive Presidential system. As a way of achieving this, the suggestion is for the abolition of the 20th Amendment to the Constitution, and to replace it with the former 19th Amendment with suitable changes as the 21st Amendment to the Constitution. However, the belief that this in itself will restore democracy is based on an underestimation more..

May 19 (CT) Major General Jagath Alwis, Secretary to the Ministry of Public Security slammed the judiciary in a high-handed letter addressed to Chief Justice Jayantha Jayasuriya, accusing lower court judges of being responsible for the violence that unfolded in Sri Lanka, after SLPP led mobs attacked peaceful protestors at Galle Face on 9 May. Colombo Telegraph exclusively learns that Major General Alwis directed his complaint to the Chief Justice, in a warning to the Supreme Court more..

May 19 (TM) Although the rising prices of essential food items is a major topic amidst the current crisis, the matter has been a growing concern for several years, especially following the Govt’s decision to adopt an organic fertiliser-only policy last year. The country’s agriculture sector was crippled by that decision, and combined with the inability to import adequate fertilisers and food items due to the foreign reserves crisis, the nation more..

May 19 (Island) Dissident SLPP MP Wimal Weerawansa has hinted that goon attacks on a group of anti-govt protesters on 09 May were due to a clash between Prez Rajapaksa and his brother, Mahinda Rajapaksa, who was the PM at the time. He went ballistic in Parliament, on Tuesday, while decrying the attacks on the Galle Face protesters. He laid the blame for the incidents of violence at the feet of those who had organised a meeting of local govt members at Temple Trees, on that day. more..

May 19 (FT) SL yesterday succumbed to an embarrassing hard default as the grace period for the International Sovereign Bonds (ISB) Coupon payment lapsed. Last month Sri Lanka announced a pre-emptive negotiated default of all outstanding debt as of 12 April. On 18 April ISB Coupon worth $ 78 million fell due and those had 30 days to obtain Consent Solicitation from all ISB holders for payment suspension by 18 May. Daily FT last Friday exclusively reported the looming hard default. more..

May 19 (FT) The SLPP said that the decision to field a candidate for the post of Deputy Speaker was taken by a majority decision of its parliamentary group and refuted allegations levelled at the Party’s National Organiser Basil Rajapaksa that he had conspired to force a vote instead of agreeing to a consensus candidate for the post. General Secretary of the SLPP MP Sagara Kariawasam said the decision to field MP Ajith Rajapakse for the post of DS was taken on 14 May at more..

May 19 (Reuters) U.S. investment bank JPMorgan backed SL's crisis-hit govt bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks with the IMF. Adding an overweight - effectively a buy recommendation - JPMorgan analysts said: "political stability should pave the way for bonds to move higher from near all-time lows". SL is officially now in default as a so-called grace period to make some already-overdue bond interest payments more..

May 19 (TM) Protestors at the GotaGoGama sites in Minuwangoda and Kurunegala have alleged that attempts are being made to intimidate peaceful protestors on the instructions of Minister of Urban Development and Housing and Chief Govt Whip MP Prasanna Ranatunga, and former Minister of Highways and former Chief Govt Whip MP Johnston Fernando. Protestors at the GotaGoGama in Minuwangoda claimed that more..

May 19 (DM) The headline given is to focus attention on the significance and importance of the workers day this year, and secondly on the tragic situation employees find themselves in at present as a result of the economic mess Sri Lankans are in. This led to the coalescing of the workers labour issues with the protests of the public in general because of its disappointment with governance which has brought the country to acknowledge bankruptcy. Granted, everyone is responsible for economic mess. more..

May 19 (FT) Workers’ remittances inflow has more than halved in the first quarter of this year to $ 783 million from a year ago. As per the CB data, the January to March figure is down by 58% from $ 1.86 billion achieved in the first quarter of last year. In March workers remittances inflow declined by 48% to $ 318 million. However, it is the highest since $ 325 million inflow in December last year. In January, workers remittances amounted to $ 259 million and February it was $ 205 million. more..

May 19 (EN) Former minister Ramesh Pathirana had arrogated to himself the powers of the IGP and was the sole authority deciding police transfers in the island’s south, a parliamentary colleague alleged. SLPP legislator Chandima Weerakkody told parliament that the breakdown of law and order on May 9 across the country was the fault of their own party in interfering in key appointments in the police. more..

May 19 (FT) Amidst flour companies Prima and Serendib increasing prices again by Rs. 35 per kilo yesterday, the ACBOA said the members are grappling to remain in the industry. This was the second time the wheat flour prices were revised for the year just within a month. On 18 April, the highest ever hike by a record Rs. 42 per kilo was announced, whilst the previous hike was Rs. 17.50 per kilo in Nov 2021. With the latest upward price revision, a kilo of wheat flour will range more..

May 19 (Island) The CSE slipped in the first hour of trading yesterday after opening over 2% up due to SJB lawmaker Dr Harsha de Silva informing that Sri Lanka has now become a hard default country with the failure to pay loans raised from other countries, stock market analysts said. Sri Lanka’s impending default on US $12.6 billion of overseas bonds is flashing a warning sign to investors in other developing nations. Besides surging inflation is set to take a painful toll. more..

May 19 (TM) Minister Kanchana Wijesekera said in Parliament that there has been a delay in unloading liquefied petroleum gas (LPG) stocks due to inclement weather, and therefore requested the public to not queue up to obtain the same today (19). “On Monday (16), the Finance Ministry and PM Ranil Wickremesinghe had paid for two gas ships. They are close to our harbour now, but due to bad weather, we were unable to unload the stocks on Tuesday evening. more..

May 19 (FT) The Colombo stock market yesterday posted sharp gains with improved turnover as investor sentiment turned bullish. The active S&P SL20 Index gained by 5.5% and the benchmark ASPI gained by 4.4%. Turnover was Rs. 2.75 billion involving 178 million shares. Asia Securities said the market commenced the week on a buoyant note with the ASPI recording a gain of 359 points, its biggest single-day gain since 27 April 2022, boosted by price gains in front-line stocks across more..

May 19 (TM) Claiming that the answering of questions raised by MPs has been postponed for around two weeks due to the non-appointment of a Cabinet of Ministers, JVP-led NPP Leader MP Anura Kumara Dissanayake has requested the Govt and PM Ranil Wickremesinghe to inform Parliament of the exact date of the appointment of Cabinet. Dissanayake said: “For about two weeks now, the questions asked by MPs have been more..

May 19 (CT) The CEB said, starting up the first unit of the Norochcholai Coal Power Plant Complex will have no effect on the duration of power outages. CEB Spokesman noted that once the urgent maintenance at Norochcholai Power Plant is completed, the unit will be brought back online, but this will not help reduce the number of hours of power outages. He noted that the reason they are unable to reduce the duration of blackouts is because the amount of diesel they are more..

May 19 (Island) Newly-elected Deputy Speaker Ajith Rajapaksa said that he was not a member of Prez Gotabaya Rajapaksa’s clan. The Hambantota District SLPP lawmaker said so when The Island asked him whether he, too, was a member of the Rajapaksa family now under fire over the continuing political-economic-social turmoil. Rajapaksa polled 109 votes at a secret vote held in Parliament on Tuesday to secure the Deputy Speaker’s post. MP Rajapaksa defeated SJB MP Rohini more..

May 19 (ANI) Gripped by a severe economic crisis, SL, a major player in the global tea market, has not been able to export tea, creating an opportunity for the Indian tea industry to tap the market. The tea traders of North Bengal said that the present condition in SL, which has been unable to export its tea, can create opportunities for the new market in India. Kamal Kumar Tiwari, Chairman of the Siliguri Tea Auction Committee and Trader said, "SL buyers who are unable to get tea due to more..

May 19 (DM) The remaining Cabinet ministers of the new govt will be sworn in today by Prez Rajapaksa. Two MPs from the independent group of SLPP- Susil Premajantha and Anura Priyadarshana Yapa- will also be among them. Besides, Nimal Siripala de Silva and Mahinda Amaraweera of SLFP will also join the new Cabinet. Daily Mirror learns that two members of SJB are likely to take up positions in the new Cabinet regardless of their party’s decision not to be an ally of the govt. more..

May 19 (CNA) Central Bank held its key lending and borrowing rates steady on Thursday following a massive 700 basis points increase at its previous meeting and reiterated the need for more fiscal measures and political stability in the crisis-hit economy. Standing Lending Facility rate remained unchanged at 14.5% while the Standing Deposit Facility Rate was steady at 13.5%. "It is envisaged that the recent tightening of more..

May 19 (DM) Sri Lanka is yet to respond to a Chinese offer of a shipment of diesel to tide over the present crisis of fuel shortage, Daily Mirror learns. According to an informed source, China has made the offer in terms of emergency assistance. However, Sri Lanka has not yet responded to it. The country is currently going through a fuel crisis. PM Ranil Wickremesinghe announced earlier that diesel stocks have been secured, but the country has been down to its last day of petrol. more..

May 19 (CT) PM Ranil Wickremesinghe said in Parliament that discussions have commenced on the possibility of using the $ 160 million received this week under the World Bank Emergency Humanitarian Assistance for petroleum imports. “Yesterday we received 160 million dollars from the World Bank. We cannot use it for fuel but we are discussing with them if we can or not,” Wickramasinghe said in Parliament. Petrol imports have come to a standstill due to the current more..

May 19 (TM) Sri Lanka is facing delays in its debt restructuring process, as the debt advisors required for this purpose are yet to be appointed by the Government due to the absence of a full Cabinet of Ministers, according to Former Minister of Finance and incumbent MP Ali Sabry (PC). MP Sabry stated that even though the country has finalised its Request For Proposals (RFPs) for the appointment of debt restructuring advisors to aid more..

May 19 (FT) Sri Lanka’s current economic crisis is nothing short of an economic tsunami. The former Deputy Governor of the Central Bank Dr. W.A. Wijewardena, said in a newspaper interview recently “In every respect, Sri Lanka is a bankrupt country,” adding that the challenge of the new interim govt was to make it solvent. “If Wickramasinghe fails, Sri Lanka will also fail, not in the next few years but for the rest of the period Sri Lanka will be nonentity as a nation,” he warned. more..

May 19 (FT) Talk about disappearances. Like a conjurer, PM Ranil Wickremesinghe, with his rhetoric, re-definitions and re-direction, has made the Gota Go Home slogan submerge. He replaces the Gota Go Home Aragalaya (Struggle) with economic imperatives and thereby displaces the epicentre of the struggle. Some Opposition parties and some within Opposition parties are following the PM’s cue like children following the Pied Piper of Hamelin. His construct is a diversion away from more..

May 19 (EN) Sri Lanka’s commercial banks quoted the rupee at 364 against telegraphic transfers on Thursday (19) while the central bank set a daily guidance rate for interbank spot trade for 359.55 plus or minus 2.50. Commercial banks were quoting 354/364 for telegraphic transfer dollars on Thursday, remaining unchanged from Wednesday. On Wednesday, the spot was quoted at 359.65. Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below the market rates. more..

May 19 (AD) Public sector employees, except those in essential services, are not required to report to work tomorrow due to the prevailing fuel crisis, PM Ranil Wickremesinghe said in parliament this morning. Delivering a speech in the House, the Premier also urged the general public to limit non-essential travels tomorrow. Meanwhile, Minister Kanchana Wijesekara who addressed the parliament, appealed to the general public not to stand in queues for petrol today, as supplies are unavailable. more..

May 19 (EN) Some lawmakers in SL had asked for hotel accommodation near the parliament complex, Speaker Mahinda Yapa Abeywardena said on Thursday after an uproar ensued in the House over reports that MPs were being sold fuel at a subsidised rate at the Narahenpita police garage, a claim hotly denied by the minister in charge. “A few members wanted [to go back home] soon. So they wanted some fuel. Otherwise they asked me to book a hotel for them to stay here,” said the Speaker. more..