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Long-denied IMF report tabled in Parliament

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The report of the International Monetary Fund on Sri Lanka was tabled in Parliament today (05).

The Finance Ministry had received the draft of the report, but at the recent All Party Conference, former Finance Minister Basil Rajapaksa said it was not possible to present it.

However, the final report was tabled in Parliament today amidst a heated situation.

Meanwhile, Minister Wimal Weerawansa and 16 other government MPs function independently and Anura Priyadarshana Yapa on behalf of the Sri Lanka Freedom Party also informed Parliament that all 12 of their MPs function independently in parliament

Protests at Lipton Circle(PHOTOS)

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The protests against the government, including the President, are still active and are joined by all sections of society.

Photographs: Ajith Seneviratne

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Foreign missions call on the Govt to respect the right to peaceful protests

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US Ambassador Julie Chang joined several other heads of missions in Colombo to call on the Government to respect the people’s right to peaceful protests.

“Sri Lankans have a right to protest peacefully – essentially for democratic expression. I am watching the situation closely, and hope the coming days bring restraint from all sides, as well as much-needed economic stability and relief for those suffering,” Ambassador Chang said on Twitter.

The Office of the European Union expressed concern over the state of emergency and strongly urged Sri Lankan authorities to safeguard democratic rights of all citizens, including the right to free assembly and dissent, which has to be peaceful. “Challenging times for Sri Lankan people – EU continues to follow situation closely,” the EU office in Colombo said.

The German Ambassador in Colombo Holger Seubert associated himself with the sentiments of the EU and added that people demonstrating for their rights is no emergency. “It’s the emergency that brings them to the streets,” he said.

The Canadian High Commissioner in Colombo David McKinnon said that the freedom of expression and the right to peaceful protest are fundamental to the success of any democracy, including Sri Lanka’s. “The free exchange of ideas is also how solutions to challenges will be found,” he said on Twitter.

Meanwhile thousands of Lankans abroad from around the world yesterday staged protests demanding the Government resign over the failure to resolve multiple crises.

Protestors from Australia, New Zealand, UK, France, US, Finland, Canada, Italy and Germany held placards and shouted slogans demanding that President Gotabaya Rajapaksa step down along with the rest of the Government.

Irrespective of religion or race, Sri Lankans living overseas gathered in unity to show their support to fellow Lankans at home, who are suffering from the worst economic crisis, amidst a state of emergency, where curfew has been imposed countrywide.

They called on the Government to stop oppression against people’s right to protest peacefully.

A small group of protestors have gathered outside President Gotabaya Rakapaksa’s son’s house in Los Angeles, USA, with protestors calling on him to call his father back home.

The protester said that President Gotabaya had to go down and his money had to come back. The protester said that people in Los Angeles are with Sri Lankans

Protests in front of the President’s house in America

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It is reported that protests have also taken place in front of the house in Los Angeles, USA where the son of President Gotabhaya Rajapaksa resides. It is reported that a group of Sri Lankans residing in the United States has been involved in this.

The group of Sri Lankans has staged this protest demanding the President’s son Manoj Rajapaksa to bring his father back to America.

Tissa Jananayake apologizes to the people

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Tissa Jananayake, a popular tuition teacher who supported Gotabhaya Rajapaksa in the 2019 presidential election, has apologized to the people.

It is about deceiving and supporting this unfortunate regime.

Following is a note he posted on his Facebook page.

Parliament convenes today amidst the protests of people

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Parliament is due to convene today (05) amid continuing protests across the country demanding the resignation of President Gotabhaya Rajapaksa and the government.

Parliament convenes today for the first time since the start of the mass protests, and today the government is likely to lose a majority of 113 in parliament.

The Sri Lanka Freedom Party (SLFP), the main partner of the government, announced yesterday that it would leave the government today and serve as an independent member of parliament.

In the face of the current situation, the President has stated that any party that can show a majority of 113 in Parliament will be given the opportunity to form a government.

But the first demand of the protesting people is that the president should resign.

51st Anniversary of April 1971 insurrection

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Today (05) marks the 51st anniversary of the April 1971 insurrection. The uprising was launched by the Janatha Vimukthi Peramuna (JVP) and was the first mass armed struggle launched by a political party in Sri Lanka.

Oppressed youth went on strike against the government – led by the then Prime Minister Sirimavo Bandaranaike – in many parts of the country with the aim of seizing power by attacking the police.

Under certain circumstances, the insurgency failed and the young people were subjected to severe state repression, killing and imprisoning large numbers of others.

However, the courage, commitment and sacrifice they showed then should be commemorated today with a common purpose instead of personal goals.

CB Governor’s resignation makes monetary authority in shambles

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Central Bank Governor Ajith Nivard Cabraal’s resignation and appointment of Ali Sabri,a lawyer handling the country’s treasury at a time of financial crisis have raised eyebrows of economic experts and moderate intellectuals in the island nation.

With the resignation of the Governor and pending a successor, the Central Bank has postponed the April monetary policy review which was scheduled for yesterday.

Post the pre-scheduled meeting, the Central Bank was to release the statement today followed by a press conference.

However the resignation of the Governor at a time where the country is facing sevre forex crisis and results of corrective measures are pending will not bring any relief for the suffering masses, several economic experts said.

The Governor of the Central Bank Ajith Nivard Cabraal on Monday said he has tendered his resignation to the President as he doesn’t want to continue under the present circumstances.

“In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, CBSL to President Gotabaya Rajapaksa,” he announced in a twitter post.

All 26 Cabinet Ministers had resigned with immediate effect late on Sunday night.

Cabraal, who had served as the State Minister of Money & Capital Market and State Enterprise Reforms of the 9th Parliament, had tendered his resignation as an SLPP National List MP to once again take over the position of Governor of the Central Bank of Sri Lanka in September last year.

Former CBSL Deputy Governor W.A. Wijewardena following Cabraal’s resignation said he had hope for CB and the monetary sector because Cabraal was better than his predecessor Prof. W.D. Lakshman.

“Many blamed me for doing so; my explanation was that like King Mahasen, he had done both merits and demerits and we should now give him an opportunity;Mr Wijewardena said.

He noted that he even gave him four pieces of advice. That advice was: 1) Remove Lakshman shock of holding the rupee at 203/$ and getting importers to put 100% margin 2) He should realise he is Governor of the nation’s CB and not Rajapaksa and serve our interest 3) Ask Gota to go back to tax system prior to 2019 and 4) Seek IMF funding,” Wijewardena recalled.

“Sadly, he failed to listen to this advice and instead pronounced that he will go for a ‘homegrown solution’ claiming that CB has more experts than outside bodies, he disclosed.

He said that thisCB road map was a non-event because ANC had touched on areas for which he had no authority. Also, it was reviewed in December 2021 to find none of the goals have been achieved. T

here was still no positive response from ANC and he stubbornly held to his view of not allowing the rupee to depreciate and MF support; finally, when all reserves were gone, he had to allow LKR to fall freely causing problems for his political masters and SL, how nice had he been listening to us?” queried Wijewardena via his tweet

Referring to the new appointment of Finance Minister,another eminent economists who wished to remain anonymous noted that this is not the time for experimenting with ad hoc patch work solutions for the benefit of a few in the government headed by Gotabaya Rajapaksa as his decision to appoint Ali Sabri for the post of Finance Minister and the acceptance of resignation of Mr. Cabraal will make the crisis situation worse aggravating it to boiling point.

Several high level officials have alaready expressed concern on the decision taken by the president claiming that it will definitely boomerang over the present administration.

They expressed their dismay at the failure of the President to find suitable ruling party members to hand over the Finance ministerial portfolio as there are many qualified and experienced MPS with economic and financial background in the SLPP.

They noted that Ali Sabri was doing a good job as Justice and he was working tirelessly to introduce judicial reforms and a new constitution.

But the public officials will soon protest against this appointment unless no remedial action is taken by the President , they added.

TISL says people’s power cannot be contained by the chains of corruption

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Transparency International Sri Lanka (TISL) strongly condemns the attempts of the President and the administration to stifle the constitutionally enshrined freedoms of expression and lawful assembly of the citizens through the use of emergency regulations, curfew and social media blackouts.

TISL said that as an independent local organization that has been working in Sri Lanka for the past two decades with the mission to fight corruption, it stands in solidarity with the people across the country who are mobilizing independently against the corrupt in a non-violent manner.

TISL notes that the current situation in the country has been caused by decades of misuse and mismanagement of public resources on a large scale, systemic corruption coupled with kleptocracy, and an overall lack of transparency and accountability in both governance as well as in the public service sector.

The people have now delivered their message loud and clear. The dormant voices of the people of this country have joined in unison to create a powerful shockwave that might have taken most of those in power by surprise.

Sri Lankans should be vigilant at this point as chaos at the highest levels affords the opportunity for political maneuvering and for those with ulterior motives to rise to power. This is as true in Sri Lanka as in other countries – in times of strife, those who rise to power can have further corrupt influence, devastating our beloved motherland.

It is important to recognize the fact that Sri Lanka has been on this path to economic turmoil since gaining independence in 1948, due to corruption. TISL’s work in Sri Lanka has shown that those in power employ a number of varying tactics to support their corrupt activities.

Structural weakening of accountability frameworks, interference with the public service, abuse of state-owned enterprises (SOEs), rampant abuse of public resources, siphoning away of public funds, cronyism and nepotism are but a few ways in which successive governments have plundered the wealth of this nation and brought the country to its knees.

If a country’s policies, laws and systems are changed for the benefit of those in power and not for the country, that is identified as a captured state.

However, the fact that there is now a common understanding as a nation that eradicating corruption is essential for the country to overcome this crisis, provides Sri Lanka a great moment and hope of transformation.

TISL calls for the President and the current administration to bow to the will of the peopledemanding the law enforcement authorities to act independently in order to ensure that those in power are held accountable for their actions and brought before the law.

They must also safeguard the constitutionally guaranteed rights of the people and impose serious penalties against officers of the law who carry out their own form of vigilante justice.

NCE expresses disappointment over failure of Govt. to resolve crisis

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The National Chamber of Exporters of Sri Lanka (NCE), the exclusive Chamber representing Sri Lankan Exporters, has expressed grave concern and disappointment over the failure of policy makers and responsible State institutions to resolve this disaster.

The Chamber predominantly points with dismay at the poor decisions, faulty assumptions, ineffective planning, sluggish responses and above all, the poor and weaker leadership itself that has helped to create this ill-fated condition.

Despite a set target to reach $ 20 billion export revenue in 2022, the Government has failed to maintain a regular supply of power and energy, completely disrupting the production process of this country.

Sri Lankan Exporters are facing extreme difficulties in continuing with their daily operations under these tragic circumstances and opting for generators have increased the cost of production.

The stark assessment that, time and time again those who were responsible for protecting and leading the nation have failed miserably to do either. One failure leading to another has created a mayhem which fractured the whole system leading to massive social unrest.

The prolonged power cuts of 10-13 hours impact both the general public and also the industries, causing them to suffer. The production cannot be planned properly and workers also cannot report to work with no transport.

Making things worse, with the high inflation and the cost of living becoming unbearable, the country is currently experiencing social unrest as people have no other option but to fight for their rights, with especially the children, old and the sick being affected badly, not to mention deprived of sleep.

NCE also laments the fact that the current crisis has arisen due to the abject failure of the policy makers and responsible State institutions in the power and energy sector to implement the projects for alternative power generation, over and above the capacity for hydropower generation, to meet the projected demand in terms of the Master Power Sector Plan, in respect of expanded production activities and domestic consumer demand.

“The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy. The economic and social failure has turned Sri Lanka on its head.

“It is clear that responsible decision makers need to step up and act quickly to find ways to at least mitigate further disasters. There is much we don’t know about what happens next, but what we do know is that leadership is not where it should be and the system as it stands now is clearly unfit to resolve these matters.”