SJB MP Harsha de Silva said the contents of the International Monetary Fund’s (IMF) Governance Diagnostic Assessment report has laid out a rigorous 16-point plan for Sri Lanka’s revival.
Speaking in yesterday’s Parliament session, the MP said that even if the second tranche is given to Sri Lanka, these recommendations will have to be implemented in order to carry forward the IMF programme.
He said that these recommendations will direct Sri Lanka on the right path. “This was the reason why I kept emphasizing from the beginning that we should go to the IMF,” he said.
The 16 IMF recommendations as disclosed by MP Dr. de Silva are as follows:
Establishing an Advisory Committee by November 2023 to nominate commissioners for the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).
Publishing asset declarations for senior officials by July 2024, an act that brings much-needed transparency, with only 12 out of 225 MPs having disclosed their assets.
Enacting Proceeds of Crime legislation by April 2024 to align with international standards, combating money laundering and illicit financial activities.
Amending the National Audit Act to hold officials accountable for the use of public resources.
Finalizing and implementing regulations for beneficial ownership information and creating a public registry by April 2024.
Enacting a Public Procurement Law by December 2024, addressing the alarming procurement and corruption issues.
Publishing reports on increasing competitive tendered procurement contracts, targeting agencies with low levels of competition.
Requiring the publication of all public procurement contracts above LK 1 billion and other critical financial information on a designated website.
Implementing the State-Owned Enterprise Reform Policy to ensure ethical management.
Abolishing or suspending the Strategic Development Projects Office Act until a transparent process for evaluating proposals is established.
Amending tax legislation to prevent unilateral tax changes without parliamentary approval.
Implementing short-term anti-corruption measures within revenue departments to enhance oversight and sanctions.
Exploring options for new management arrangements for the Employee Provident Fund to avoid conflicts of interest.
Revising legislation, regulations, and processes for stronger oversight in the banking sector.
Establishing an online digital land registry and ensuring progress in registering/titling-state land.
Expanding the resources and skills available to the Judicial Services Commission to strengthen justice.
The 9th China-South Asia Expo, which opened on June 19 in Kunming, China, will conclude tomorrow (June 24).
This year’s event held under the theme “Solidarity and Coordination for Common Development, has attracted over 1,400 companies from 54 countries and regions, with Sri Lanka as the Guest of Honour country and Thailand as the special partner nation.
China-Sri Lanka bilateral trade reached a record high of USD 5.36 billion in 2024, representing a 13.4% year-on-year increase. This makes Sri Lanka China’s fastest-growing trade partner in South Asia.
The Sri Lankan pavilion was officially declared open by Sri Lanka’s Minister of Trade and Commerce – Wasantha Samarasinghe and Deputy Minister of Foreign Affairs and Foreign Employment – Arun Hemachandra, who jointly led the country’s high-level delegation to the prestigious regional event.
CGTN’s Ms. Li Qiuyuan spoke with Mr. Kusal Perera, a political analyst and writer for ‘Sri Lanka Mirror’, about his expectations for the expo.
Speaking, Mr. Perera said that Sri Lanka needs to see how the ‘export basket’ can be diversified from the traditional export goods such as tea, in order to make the most of this platform to boost bilateral trade and engagement with China.
When asked which emerging areas such as energy transformation, digital economy and low carbon development seem to be the most promising for the island nation, Mr. Perera highlighted the importance of a combination of energy, technology and environment. “But in the process, we also have to have our national economy planned to accommodate all that,” he emphasised, adding that it will be a long process for Sri Lanka.
He further commented : “I see China opening up instead of getting into protectionism like Europe. It’s basically the second largest economy in the world… still expanding… still improving… still developing…”
China’s economic openness for all South Asian countries is a huge opportunity in a global economy that now retreats with regulated and protected markets. Protectionism would not be a catalyst for economic growth. We in South Asia have to be open too. China is already open and its economy is growing on global trade. It’s their openness that has taken them everywhere” he adds.
Deputy Minister of Public Security and Parliamentary Affairs – Attorney-at-Law Sunil Watagala has informed Parliament that a renewed investigation is underway into a fraudulent bank account allegedly maintained by Shiranthi Rajapaksa, wife of former President Mahinda Rajapaksa.
He stated that a fake account titled ‘Siriliya Saviya’ had been opened in her name and that the mandate form related to the ‘Siriliya’ Organization’s bank accounts had been fraudulently removed from the bank.
The Minister further revealed :
The account, now suspended, was opened on November 14, 2006, at the People’s Bank, Suduwella Branch, Darley Road, Colombo 10, under account number 143/1/001/4/6235069. Shiranthi Rajapaksa is listed as the chairperson of the account, with Kalyani Dissanayake as secretary and Nirosha Jeevani as treasurer.
The account currently holds a balance of Rs.43 million. Records indicate that Rs. 82,900,088 had been deposited on 88 occasions, while Rs.39,015,656 had been withdrawn on 129 occasions. Additionally, a fixed deposit of Rs.10 million had been opened under the name ‘Siriliya’.
The Financial Crimes Investigation Division (FCID) has resumed investigations into the matter.
Deputy Minister also mentioned several other questionable financial transactions involving the Rajapaksa family, such as ;
Rs.152 million allegedly obtained by CSN (Carlton Sports Network) from the Treasury.
Rs.35 million obtained by Gotabaya Rajapaksa from the Urban Development Authority to build a memorial for his parents.
Rs.208 million used by Basil Rajapaksa to purchase a house in Malwana.
