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President must address nation at this point: Namal Rajapaksa

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President Gotabaya Rajapaksa must be addressing the nation and making a statement at this point, said former Minister Namal Rajapaksa, speaking to an Indian media agency.

“It is mandatory that the President should be working with his team strongly. He is already doing that. The President should be addressing the nation and revealing the plans at this moment to the country. The people are concerned of what the President’s move would be. I like to see the people work together not only against the crises but also to build the country.”

MIAP

CSE to be closed for a week

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The Colombo Stock Exchange (CSE) will be closed for a period of one week effective from next Monday (18).

The decision has been taken in consideration of a request made by the CSE Board of Directors to the Securities and Exchange Commission (SEC).

A number of parties involved in the stock market including the Colombo Stock Brokers Association have also made the request to close the CSE amidst the current economic situation.

Sri Lanka officially announced a debt default on April 12, which most parties defined as an unofficial declaration of the island nation being bankrupt.

MIAP

Police trucks parked near Galleface retreat. BASL warns against repression

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About ten Police trucks believed to have been deployed in dissolving the anti-government protest were parked near Galleface this (16) this morning.

Since yesterday, revelations were made by media, including us, that the government was planning to dissolve the anti-government protest held at Galleface, following which the parking of Police trucks near the premises had aroused the suspicion of the people. Accordingly, a strong objection was building up on Social Media against the move.

However, these trucks have been removed from the place and sent back.

Meanwhile, the Bar Association of Sri Lanka (BASL) in a statement told the government that the right to stage peaceful demonstrations is protected by the Constitution of Sri Lanka and the peaceful protest held at Galleface, therefore, must not be hampered.

MIAP

A discussion between the President and the resigned Cabinet

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A discussion is to be held between the President and the resigned Cabinet Ministers today (16).

The discussion will be held at 05.00 pm at the President’s Residence.

There will be a special discussion on future political matters and how the Cabinet will be sworn in as there is a need for re-swearing in.

Meanwhile, despite growing protests against President Gotabhaya Rajapaksa’s resignation, top security officials and the President have emphasized that he will not resign.

President assures that he would not resign

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Sources say that President Gotabhaya Rajapaksa has stated with a group of senior security officials that he will not step down from the presidency.

On the 14th, several senior security officials met the President and he assured them that he would not resign.

It is also stated that the President has emphasized to them that he is acting in accordance with the constitution of the country.

Youth Cabinet to be sworn in on the 18th!

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The new cabinet is due to be sworn in on April 18, according to internal government sources.

Sources added that the cabinet will be made up of more young politicians with many new faces.

It was also reported that after the swearing in of the cabinet, pro-government rallies would be held in every district.

The executive presidency will be definitely abolished – Sajith

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The Leader of the Opposition said that the family government was entirely responsible for the devastation that befell the country today and stressed that they would definitely recover all the money that was looted and hidden in various countries and that the thieves would be punished.

He said that certainly all necessary steps will be taken to abolish the executive presidency and to defeat the government and the President through a no-confidence motion and an impeachment motion. The Leader of the Opposition Sajith Premadasa stated that steps will be taken to reverse the 20th Amendment and establish the 19th Amendment in the name of all the people who are struggling in this country.

Sajith said that their demands were in complete agreement with the policies of the Samagi Jana Balawega and that the Samagi Jana Balawega would be their voice in action.

The Leader of the Opposition Sajith Premadasa yesterday (15) handed over Rs. 2,134,400 Valuable essential hospital equipment was donated to Akkaraipattu Panamkadu Regional Hospital in Ampara District, as the 48th step of the ‘Jana Suwaya’ CSR program aimed at creating a healthy country in line with the ‘Samagi Jana Balawegayen Husmak’ program.

Shantha Bandara bursts into tears before Camera, begs not to protest in front of his house (VIDEO)

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Residents of the area staged a protest in front of the house of Shantha Bandara of the Sri Lanka Freedom Party who was sworn in as a Minister of State last week.

He held a media briefing in this regard yesterday (15) and wept in front of the media asking the people not to protest in front of his house.

He said that he had a young daughter and the Minister said to the media saying that the daughter had not even eaten on the day of the protest.

He said that if the residents of the area were asked to come to another place instead of in front of their house, he would definitely come to the place and answer their questions.

SL Currency printing and airlifting money to Uganda open can of worms

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The recent exposure of details of Sri Lanka currency printing ata local printing press during previous Mahinda Rajapksa regime in 2020-2021 period , transporting lorry loads of currency from ‘Temple trees’ the PM’s residence has opened a can of worms.

riLankan Airlines on Thursday (14) said it received an air cargo order to transport about 102 tons of printed material from Colombo to Entebbe International Airport in Uganda in February 2021.

consignment was purely commercial in nature and brought in much-needed foreign revenue to the airline and country at the time. SriLankan wishes to emphasize that this cargo order was undertaken for commercial reasons only, it added.

The details of the cargo consignment were withheld due to contractual obligations as per air cargo industry standards said the statement.\

However, in response to concerns raised following the statement the national carrier tweeted to say that the Ugandan government ordered Ugandan currency notes from a global security printer who operates several factories worldwide, including one in Sri Lanka, exporting to global markets.

It went on to note that SriLankan aircraft which were underutilised at this time (2021) during the pandemic were chartered by a UK based freight forwarder.

A tweet by the Airline Pilot’s Guild of Sri Lanka on the 23rd of February 2021, revealed that SriLankan Airlines operated three consecutive cargo flights to Entebbe in Uganda.

Sri Lankan Airlines said what is now being misunderstood is the Airline Pilots Guild proud announcement of this achievement of using unutilized pax aircraft.

However multiple events between Uganda and Sri Lanka in recent times sparked serious concerns among Sri Lanka’s social circles.

The most recent of these events was when Sri Lankan Prime Minister Mahinda Rajapaksa travelled to Tirupati, India on pilgrimage, in a private jet.

This particular jet was leased for a very high price, and it arrived at the Ratmalana Airport for the Prime Minister to travel to India, from the Entebbe International Airport in Uganda.

Startling details of this particular jet were revealed by the Frontline Socialists Party in late 2021.

The Frontline Socialists Party on the 28th of December 2021 said that the private jet used by the Prime Minister to travel to India on pilgrimage had a flight history that is a cause for concern.

“The T7 – JSG has a very interesting flight history,” said Pubudu Jagoda, the Academic Secretary of the FSP, and the flight path detailed by him has exposed the connection with PM Mahinda Rajapksa’s viist to Thirupathi kovil in India.

Pubudu Jagoda said that after reaching Sri Lanka on the 16th of December, the private jet had flown to Cochin and Chennai in India on two separate occassions, before reaching the country once again.

Jagoda pointed out that the around Rs. 32 Million was spent for this priate jet, and raised concerns as to why the Prime Minister of Sri Lanka would resort to using a private jet, when he could have easily used a passenger plane.

Uganda’s financial industry risks being blacklisted by international systems for failure to put in place measures that can effectively prevent financial crimes like money laundering.

This is a requirement by the Financial Action Task Force (FATF), a global inter-governmental organisation on the initiative of the G7countries to develop policies to combat money laundering and terrorism financing.

Uganda was put on the ‘Grey List’, a list that shows the performance of countries regarding the safety or level of risk of their financial systems.

To avoid being downgraded to the “Blacklist”, Uganda must submit a revised report by May 2022, showing improvements responding to the gaps that were cited in the current report.

Former Parliamentarian Hirunika Premachandra, the National Organizer of the Samamgi Vanitha Balavegaya told reporters on Friday (15) that rumour has it that all the money looted from the people were moved to Uganda.

She said based on the calculations of the weight of the currency that was supposedly airlifted by SriLankan Airlines Cargo, approximately 10 Million US Dollars have been moved out.

The Former MP also said that from 1986 to 2021 the Foreign Reserves of Uganda were around 1.5 Billion US Dollars, however in 2021 that figure has moved upto over 4.4 Billion US Dollars.

Concerns are mounting in the country over the transactions taking place between Sri Lanka and Uganda, an African country with so many issues concerning finances and monetary security.

Sri Lanka  sells gold reserves amidst price escalation

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Sri Lanka has sold another tranche of its gold reserves in January 2022 amid an overall fall of its gross reserves, official data shows.

The central banks gold reserves were down to 92 million US dollars in January 2022 from 175 million US dollars in December.

Sri Lanka also sold gold in December 2021. By end December 2021 Sri Lanka was estimated to have had about 3.1 tonnes of gold. The latest sale is estimated to have brought gold holdings down to around 1.6 tonnes.

SJB MP and eminent economist Dr. Harshade Silva disclosed that the Central bank has sold  over 10 Tonnes of gold in February-March this year when prices were relatively low. The weekly bulletin of the Bank shows official gold reserves falling from US$ 940m to US$ 340m; reduction of US$ 600m

With gold prices touching Rs 1.85 lakh per 10 gram, Sri Lankans selling assets amid economic crisis

Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the Covid-19 pandemic.

With gold prices touching Rs 1.85 lakh per 10 gram, Sri Lankans selling assets amid economic crisis

Amid the severe economic collapse in Sri Lanka, people are selling their gold jewellery and assets to pay their bills and purchase daily-use items. Jewellery shops owners in the Sri Lankan capital say the situation is unprecedented as they have never seen such a rush among people to “sell” gold.

The island nation is reeling under great economic distress and its currency is now the world’s poorest performing currency. The Sri Lankan rupee hit a new record low at 315 against USD officially recently .

Meanwhile, the price of gold is fluctuating daily, at present the price of 24-carat gold is one lakh ninety thousand (1,95,000) in Sri Lankan rupee.

While speaking to media, a gold trader in Colombo said, “People are selling their gold primarily because they have to pay their own prices for daily use, loans and other important expenses.”

“Today the price of 24-carat gold is Rs. 205,000 (Sri Lankan rupee- SLR), when it’s converted to 22-carat it comes to SLR 185,000. 

Last week it soared to SLR 210,000 then it came down to SLR 180,000 the day before yesterday, now it is SLR 15,000 more, around 195,000. the currency is so much that we expect it to be SLR 200,000 in coming weeks,” he added.

Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the Covid-19 pandemic.