Ranil Wickremesinghe

Indian delegation calls on Wickremesinghe for alliance in energy sector

A high-level Indian delegation called on Sri Lankan President Ranil Wickremesinghe here on Sunday and briefed him on the developments in the jointly-identified priority areas for collaboration in the energy sector. President Wickremesinghe provided his insights on the early implementation of these initiatives, the Indian High Commission in Colombo said. It said India would gift Sri Lanka 500 solar-powered indoor cooking systems. The Lanka India Oil Company (LIOC), the local operator of Indian Oil Corporation (IOC), said the visiting Secretary to the ministry of power and natural gas Pankaj Jain and Chairman IOC Shrikant Madhav Vaidya had earlier visited the Trincomalee eastern Sri Lanka's IOC terminal. Sri Lanka and India run a joint venture storing fuel in the World War II time storage tanks in Trincomalee. Jain had inaugurated three new LIOC retail fuel sheds in their ongoing expansion whilst addressing the chamber of commerce and attended a meeting of chief executive officers

IMF facility debunks Sri Lanka's bankrupt status: President Wickremesinghe

President Ranil Wickremesinghe told Parliament on Wednesday that the IMF bailout had restored Sri Lanka's international recognition, ending the image of bankruptcy and helping the local banks regain foreign investors' confidence. The IMF board had on Tuesday approved a USD 3 billion facility over a four-year period to help Sri Lanka emerge from its balance of payment crisis which plagued the island since April last year. Wickremesinghe said the bailout would create opportunities for low-interest credit, restore foreign investors' confidence, and lay the foundation for a strong new economy. The receipt of the IMF Facility is a step towards building a better future for the youth and uplifting the country. Additionally, the country is expecting about USD 7 billion dollars more in rapid credit support from other parties. Amidst numerous hardships, bearing all kinds of pressure, and undergoing suffering with equanimity, the people of this country remained calm and patient. Their commit

Sri Lankan unions end strike after President Wickremesinghe offers talks

Sri Lanka's state-sector trade unions on Wednesday called off their daylong strike to protest against the envisaged tax reforms after President Ranil Wickremesinghe pledged to give them an opportunity to discuss the issue with the IMF which has set this as a precondition for a crucial bailout package. The trade unions of doctors, ports, banks, electricity and teachers observed a day-long strike with the hope to convert it to a continuous protest action. They want the government to roll back the high personal taxes which the government had claimed was a necessity as part of the reforms demanded by the IMF to unlock the USD 2.9 billion bailout package. President Wickremesinghe's secretary Saman Ekanayake in a letter sent today to the doctors' trade union said: The Hon President has directed me to inform you that he wishes to continue the dialogue with the trade unions to resolve the issues An opportunity would be provided to the trade unions to discuss tax reforms with the IMF," he

SL Prez Wickremesinghe calls for unity, to continue with his decisions

President Ranil Wickremesinghe said on Wednesday that he will go ahead with the devolution of powers within a united Sri Lanka and continue with his unpopular decisions to ensure that the bankrupt country recovered from the economic crisis. In a major policy address, Wickremesinghe also told Parliament that talks with the IMF to unlock a USD 2.9 billion bailout package are in the final stages. "We expect to devolve power within a Unitary State. However, I wish to reiterate a fact that has been emphasised on many occasions. There will be no division of the country, Wickremesinghe told lawmakers. His remarks came days after the powerful Buddhist clergy expressed strong opposition to the move, claiming it challenges the unitary nature of the country. President Wickremesinghe has underlined the need to fully implement the 13th Amendment to the Constitution to grant political autonomy to the minority Tamils in the country. India has been pressing Sri Lanka to implement the 13A which w

Cannot reboot SL's battered economy through painkillers: Wickremesinghe

Sri Lanka President Ranil Wickremesinghe on Sunday said he is fixing the debt-ridden country's economy by treating the "root cause" of the malaise and not by administering "painkillers", asserting that systematic change and national unity in conjunction with economic reforms are needed to achieve prosperity. President Wickremesinghe made these comments through a series of tweets a day after Sri Lanka celebrated its 75th Independence Day. Sri Lanka was hit by an unprecedented financial crisis last year due to a severe paucity in foreign exchange reserves that also sparked political turmoil in the island nation that led to the ouster of the all-powerful Rajapaksa family. I'm not treating the superficial condition with painkillers. I am treating the root cause of the malaise. Many of the decisions I have been compelled to take are unpopular, but because of these, no citizen will die in queues or starve, Wickremesinghe tweeted. From April to July last year, chaos reigned supreme in Sri

Sri Lanka must correct its errors, failures: Prez at 75th Independence Day

Sri Lanka needs to rectify its "errors and failures" and review its strengths and gains as a nation, President Ranil Wickremesinghe said on Saturday, as the country marked its 75th anniversary of independence at a critical time when it is reeling under an unprecedented economic crisis. The main Independence Day event was attended by foreign dignitaries, including India's Minister of State for External Affairs V Muraleedharan. Wickremesinghe presided over the ceremony which featured a military parade with a 21-gun salute. The celebrations happened despite criticism from Opposition groups who claimed the events costing Rupees 200 million were a waste as the island nation continues to grip in its worst economic crisis since gaining independence. In his message, Wickremesinghe said: Our 75th anniversary of independence from colonial rule is being observed during an extremely critical and challenging time in the country. However it presents an opportunity for us not only to review our

Sri Lanka's economic growth in 2022 at minus 11%: President Wickremesinghe

Sri Lanka's overall economic growth in 2022 was minus 11 per cent and it could be - 3.5 to - 4 per cent this year, President Ranil Wickremesinghe said on Saturday, as the island nation tried hard to overcome its worst economic crisis since independence. Wickremesinghe, who also holds the finance ministry portfolio, said that 2022 overall economic growth was larger than the expected at - 8 per cent and in 2023 the growth rate could hover somewhere around - 3.5 per cent to - 4 per cent. The growth rate of the economy in 2022 was - 11 per cent. It could be - 3.5 to - 4 per cent this year, Wickremesinghe told a gathering in the north central district of Anuradhapura. During mid 2022 Sri Lanka faced the worst economic crisis which led to months long public protests leading to a political crisis. Shortages of essentials due to the forex crisis forced people onto the streets demanding the resignation of president Gotabaya Rajapaksa. Last year in April, Sri Lanka declared its first-ever d

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Sri Lanka concludes debt restructuring talks with Japan: Wickremesinghe

Sri Lanka has concluded debt restructuring talks with Japan and will continue to hold such meetings with India this month, President Ranil Wickremesinghe announced on Saturday, as the cash-strapped country looks to carve a path out of its worst financial crisis. The crisis-hit island nation, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to get financial assurances from its major creditors China, Japan and India which is the requisite for Colombo to get the bailout package. The IMF bailout has been put on a halt as Sri Lanka pursues talks with creditors to meet the global lender's condition for the facility. Addressing trade unionists here, the president said that the debt restructuring talks with China's Exim bank were held this week and further dialogue is in progress. On January 19, the Indian foreign minister is expected to visit and we will continue to have debt restructuring talks with India, Wickremesingh

Cash-strapped Sri Lanka plans to downsize military by half by 2030

President Ranil Wickremesinghe said last year that military strategy reforms were needed to gear the island's army to face new challenges

Public service not an eight-hour job: Lanka president Ranil Wickremesinghe

Wickremesinghe urges public servants to work overtime 'to make cash-strapped island a prosperous nation this year'

Coordinated assistance programme vital for SL's recovery from crisis

Wickremesinghe, who also holds the Finance portfolio, presented Sri Lanka's development programme associated with the economic recovery and growth

No point in economic reforms when we don't have an economy: Sri Lanka Prez

President Ranil Wickremesinghe has acknowledged that there was no point in economic reforms in Sri Lanka because the cash-starved island nation didn't have an economy, as he made a strong pitch for a new economic model. Sri Lanka is going through its worst economic crisis since its independence in 1948, triggered by a severe paucity of foreign exchange reserves. In mid-April, Sri Lanka declared its international debt default due to the forex crisis. Addressing the inaugural session of the Sri Lanka Economic Summit 2022 on Monday, Wickremesinghe said the country's beleaguered economy cannot be set right through outdated economic systems. As Sri Lanka's economy went into a perpetual tailspin in recent times, Wickremesinghe acknowledged that economic reforms were not the antidote for the current malaise. What is the plan for reform? Frankly, I have no plan for it. What reforms when we don't have an economy, the Daily Lanka Mirror newspaper quoted Wickremesinghe as saying. "What we w

Sri Lanka's Tamil parties to discuss federalism ahead of talks with govt

Sri Lanka's all Tamil political parties based in the East and the North are set to meet on Friday to push for federalism ahead of President Ranil Wickremesinghe's proposed all-party meeting next month to address the long-held demand for political autonomy for the minority community in the country. The meeting will be held at the Colombo residence of R Sampanthan, the 89-year-old leader of the Tamil National Alliance, sources in the party said. Wickremesinghe told parliament on Wednesday that it was important to build trust between the majority Sinhalese and the Tamils to resolve the long-standing conflict. He proposed the all-party meeting under his chair to discuss the issue to strike a solution by February 4 next year which is the 75th anniversary of the country's independence from Britain. "Regardless of inter and intra-party differences, the bottom line is that all Sri Lankan Tamil nationalist parties are firmly supportive of a power-sharing arrangement based upon federal ...

SL President rules out early elections, vows to crush anti-govt protests

Sri Lankan President Ranil Wickremesinghe on Wednesday rejected the opposition's demand for early parliamentary elections and vowed to use the military to crush any future anti-government protests aimed at regime change. Wickremesinghe, 73, who took over as the President of Sri Lanka in July this year after then-president Gotabaya Rajapaksa fled Colombo in the face of the country's worst economic crisis since 1948, said that he will not dissolve the parliament until the economic crisis is resolved. "I will not dissolve parliament early until the economic crisis can be resolved," he said while speaking in Parliament. Wickremesinghe has a mandate to serve out the rest of Rajapaksa's term, which ends in November 2024. However, the opposition parties are demanding early parliamentary elections, claiming that Wickremesinghe's government lacks electoral credibility. The next presidential election is scheduled to be held in 2024. Sri Lanka has witnessed its worst economic crisis since ear

Sri Lanka must use its ports for economic growth: President Wickremesinghe

Sri Lanka must use its ports and strategic location for its economic growth, President Ranil Wickremesinghe said on Friday while expressing regret over scrapping of the country's trilateral deal with India and Japan to develop the Colombo Port's Eastern Container Terminal. Former prime minister Mahinda Rajapaksa's office said on February 1 last year that his government has decided to run the Colombo Port's Eastern Container Terminal (ECT) as a fully-owned operation of the state-run ports authority. India, Japan and Sri Lanka inked an agreement in 2019 on the development of the Eastern Container Terminal project. Our strategic location is also a means of enhancing our economic prospects. Firstly, our location says we should be a logistics centre with three good harbours, he said. Wickremesinghe said it was regrettable that the trilateral agreement with India and Japan to develop the ECT was scrapped. Last time when I was the Prime Minister, I wanted to push it forward. We had an ..

Wickremesinghe hopeful of resolving problems faced by ethnic Tamils

Sri Lankan President Ranil Wickremesinghe has said he is hopeful of resolving the problems faced by ethnic Tamils in the country, as he announced the appointment of a committee to find ways to integrate the Indian-origin workers in the plantation sector into the society. Wickremesinghe's remarks came on Sunday during an event in Colombo to accept a consignment of medicine donated by the Union Territory of Puducherry at the request of Ceylon Worker's Congress (CWC), a leading political party representing the Indian-origin Tamils in the Central Province. While some of the Tamils of Hill Country origin had integrated successfully into the Sri Lankan society, some have failed and measures would be taken to assist them to do so, he said. Wickremesinghe said that the government will appoint a committee to seek how best to integrate the Tamils of Hill Country origin further into the Sri Lankan society. He said that these issues would be gradually resolved in the coming years as the ...

SL President Wickremesinghe expresses grief over Gujarat bridge collapse

Sri Lankan President Ranil Wickremesinghe on Monday expressed grief over a bridge collapse in Gujarat's Morbi city and extended his condolences to the victims and their families. The more than a century-old bridge, which had reopened five days back after extensive repairs and renovation, was crammed with people when it collapsed on Sunday evening. Over 130 people have died so far in the accident. In a message to Prime Minister Narendra Modi, Wickremesinghe said he is "shocked and saddened" by the tragic bridge collapse incident in Morbi, according to a press release issued by the president's office. "The government and people of Sri Lanka join me in extending deepest condolences to you, the government and people of India especially the families of the citizens who lost their lives. May the injured have a speedy recovery and wish every success in the rescue and recovery operations underway," the president said. Modi has announced an ex-gratia of Rs 2 lakh from the Prime Minister's .

Debt restructuring talks underway with IMF, India, China: Sri Lanka Prez

Sri Lanka has started debt restructuring talks with the IMF, India and China, President Ranil Wickremesinghe said on Sunday, exuding confidence that if the discussions move forward in a systematic way, the country would tide over its worst economic crisis. Addressing a gathering in the Siyambalanduwa district, Wickremesinghe said talks have also started with private creditors on debt restructuring. For the first time yesterday, we began talks with the IMF, China, Japan and India on lessening our debt burden, he said. It will be difficult for us to pay back debt, still we have to find ways to lessen our debt burden. We are faced with a situation where we are unable to meet interest payments. But I'm hopeful that if our talks could be carried forward in a systematic way, we would be able to solve our problems, he said. The president said he spoke to the Chinese finance minister while Sri Lanka's finance minister Shehan Semasinghe on Saturday started talks with India on debt ...

Lankan president issues gazette, revokes order on high security zones

Sri Lankan President Ranil Wickremesinghe issued an extraordinary gazette on Saturday, revoking last week's order that declared several key locations in Colombo as high security zones, after sustained pressure from the Opposition and country's human rights watchdog condemning his move. On September 23, Wickremesinghe declared the Parliament, Supreme Court complex and the President's Secretariat among others as high security zones, and banned any kind of protest or agitation near its premises. The move, which many see as a throwback to the restrictions imposed during the Liberation Tigers of Tamil Eelam (LTTE) days that saw suicide explosions at such key locations, prevents even the parking of cars near the vicinity of key government buildings. By gazette number 2299/71 dated today, President Wickremesinghe states that he was revoking the said order, according to an extraordinary gazette notification issued by the Presidential Secretariat on Saturday. In a notification issued on ...