The COPE Committee today (20) directed the government to immediately appoint a Managing Director to Litro Gas Company.
Following a request made by Prime Minister Ranil Wickremesinghe to summon the officials of the Litro Gas Company to appear before the COPE Committee at 11.00 am today, all the top officials of the COPE Committee had been summoned to appear before the Committee.
All the details of the company’s activities were discussed at the meeting and it was revealed that the Chairman of the Litro Gas Company, Engineer Vijitha Herath, has also been appointed as the Managing Director of the company.
Vijitha Herath is also the Chairman of Sri Lanka Insurance Company, the largest shareholder in Litro, and is officially the Chairman of Litro. In addition, he is currently the Managing Director of Litro Gas and has encountered practical problems.
Due to a large number of duties, Vijitha Herath faces practical difficulties of operating a litro gas and as a result, it is often too late to make the necessary decisions.
Accordingly, COPE Chairman Prof. Charitha Herath today directed the government to appoint an independent person with knowledge of its function to the post of Managing Director of Litro Gas as soon as possible.
Chief Opposition Whip Lakshman Kiriella says that disciplinary action will be taken against Harin Fernando and Manusha Nanayakkara who joined the government today (20).
He stated in Parliament today that disciplinary action would be taken as taking over ministerial posts in this manner was against the policies of the Samagi Jana Balawegaya.
KOENIGSWINTER, Germany, May 19 (Reuters) – The Group of Seven economic powers support efforts to provide debt relief for Sri Lanka, G7 finance chiefs said on Thursday in a draft communique from a meeting in Germany after the country defaulted on its sovereign debt.
The once-booming island country has suspended debt payments as it grapples with its worst economic crisis since it won independence in 1948, facing shortages of essential goods that have triggered social unrest.
G7 countries said in their statement they were committed to finding long-term solutions for the Indian Ocean nation and urged it to “negotiate constructively” with the International Monetary Fund on a potential loan programme.
“The G7 stands ready to support the Paris Club’s efforts, in line with its principles, to address the need for a debt treatment for Sri Lanka,” they said, referring to the group of mostly rich creditor nations.
The draft statement, which is to be finalised before the end the G7finance ministers’ meeting on Friday, also called on other big creditor nations not in the Paris Club to coordinate with the group and urged them to provide debt relief on comparable terms.
G7 finance chiefs also singled out China, which has become a major creditor to low-income countries, to actively contribute to debt relief for such countries.
Chad, Ethiopia and Zambia have so far sought debt relief under a new G20 common framework, but progress has so far been slow with some officials accusing China of dragging its feet.
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 government 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.
Crisis
The economic crisis is largely man made. Starting with the huge cuts in tax revenues, suspending the IMF program and the squander of the Forex, given the pandemic. As a result, money printing has been Rs. 4 trillion. Overall inflation is now at 30% and food inflation over 50%, according to inflation tracker Steve Hanke of Johns Hopkins University, it is over 151%. Sri Lanka’s forex sector is the worst affected. Foreign reserves have fallen from $ 7.6 billion in December 2019 to a usable foreign reserve level of less than $ 25 million at end April 2022. The net foreign assets of the Central Bank are negative at $ 4.4 billion at the end March 2022. The rupee is under huge pressure, there is limited forex in the formal banking system, and a lucrative black market is thriving. The CBSL has officially suspended foreign debt servicing, which amounts to a default. Taking the crisis to another level. Therefore, Sri Lanka is now an insolvent country. Making Sri Lanka a credit worthy country will be an enormous task and cannot be done without the assistance of Sri Lanka’s long-standing friends such as India, Japan, China, UK, USA and South Korea.
We need leadership and inspiration to come out of this crisis
Ranil’s appointment
The appointment of Ranil Wickramasinghe as PM was nothing short of a miracle. Nobody in their wildest dreams would have thought it was possible. But it has now happened. The appointment of Ranil Wickramasinghe is timely. Given his vast experience. This is his opportunity to create a legacy, given all what has happened in the past.
The new Prime Minister in a statement said, “Last Thursday, I accepted office as the Prime Minister. I did not request this position. In face of the challenging situation facing the country, the President invited me to take up this position. I assumed this duty not only as a political leader, but also as a national leader who has benefited from free education.”
He went on to say at present, the Sri Lankan economy is extremely precarious. Although the former government’s budget projected a revenue of Rs. 2.3 trillion, Rs. 1.6 trillion is the realistic projection of this year’s revenue. In November 2019, our foreign exchange reserves were at $ 7.5 billion. However, today, it is a challenge for the treasury to find $ 1 million.
The Ministry of finance is finding it difficult to raise the $ 5 million required to import gas. He concluded by saying the next couple of months will be the most difficult ones of our lives. We must prepare ourselves to make some sacrifices and face the challenges of this period. My objective is to save all the people of this country and the future of our younger generation. I will undertake this task willingly risking my life if needed and will overcome the challenges facing us. I ask you to extend your support to me in this endeavour, he concluded.
Way forward
The expectations of the Prime Minister are very clear, fix the oil and gas queues ASAP. Bring back the 19th amendment, prosecute those who have plundered and mismanaged the economy and fix the Forex liquidity in the economy. The first two can be done with the support of Sri Lanka’s friends. The 19th will require the political will of the 225 in Parliament. The people will not stop protesting until this is accomplished. Fixing the economy will require time, skilled people and objective action. We can no longer rely on bureaucrats to take the lead. They have failed us and failed us miserably. We need leadership and inspiration to come out of this crisis. The Prime Minister has the maturity of a Statesman. What he does in the next three months will either make Sri Lanka the next Sudan or help to regain Sri Lanka’s soul again.
Tiran Alles will be sworn in as the Minister of Law and Order before the President today (20), sources said.
According to internal government sources, 10 members of the new cabinet will be sworn in at 10.00 am today.
Lanka News Web also published a news item on the 17th that Tiran Alles will be appointed as the new Minister.
He is a National List Member of Parliament of the SLPP and recently became an Independent Member of Parliament with Wimal Weerawansa, Udaya Gammanpila and others.
Who authorised Helicopter tours to former Prime Minister and his family to travel spending Taxpayers Money? Entire nation is suffering without Fuel and many deaths were reported in queues and severe unrest in the island with our fuel.
Tankers are waiting in our waters accumulating demurrages since the Government does not have Dollars to pay for those to unload fuel, whilst the former Strongman along with his big family enjoys helicopter travels.
Residents living adjacent to the Ratmalana Airport are complaining that there is an increase in Air traffic (Helicopters), seems that many rejected Politicos are using them to travel around since they cannot travel by road, after igniting the violence on the 9th of May.
Resigned Prime Minister with his family was packed off to Trincomalee in an Air Force Helicopter. Again he has come out of his hiding direct to the Parliament with his son brought back to Colombo by a Helicopter.
Who is authorising these wasteful trips?
Gossip says it is the Air Force Commander who instruct and approves all these trips for this strongman, after all this may be his showing of gratitude for approving him a Brand new Defender worth over Rs. 100M.
During Prime Minister’s last tenure as president prior to 2015 also they left SLAF an unpaid Helicopter travel bill running to Millions of Rupees. These rascals are wasting and enjoying with poor tax payers money and depriving the nation of their basic needs.
Whoever authorising these trips should know that they are violating the basic fundamental and human rights of the island nation and they shall be brought to justice and country must recover the cost from their personal wealth.No politician shall be given an Air lift unless they pay for those before a trip
Ten new cabinet ministers will be sworn in today (20) at 10.00 am, according to internal government sources.
According to sources, Harin Fernando, Manusha Nanayakkara, Susil Premajayantha, Wijedasa Rajapaksa, Anura Priyadarshana Yapa and others will be sworn in as Ministers.
The Colombo Magistrate’s Court has strongly condemned the duplicitous actions of the CID in not arresting the officers who neglected their duties and led to the devastation without taking action to prevent the May 9 attack on the Galle Face protest site.
When the case was taken up yesterday (19), Maithri Gunaratne, PC, representing the aggrieved party, had drawn the court’s attention to the non-arrest of Senior DIG Deshabandu Tennakoon in connection with the incident, while Colombo Magistrate Thilina Gamage had questioned CID officials in this regard.
The CID had stated that although statements had been recorded regarding the actions of the relevant officials, the veracity of those statements should be ascertained.
A meeting between the Ceylon Petroleum Corporation and the Ministry of Technology was held at the Ministry of Power and Energy on the 18th under the patronage of Minister of Power and Energy Kanchana Wijesekera to develop a program to provide the necessary technical facilities designed to alleviate the current fuel crisis, to provide customers with the information they need to obtain fuel, to obtain information about stocks at gas stations, and to inform them of fuel delivery times.
The program is expected to be operational within a week.
We need leadership and inspiration to come out of this crisis 
