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Friday November 13th, 2026

President Sirisena Dead Man walking?

B

They hail me as one living,

But don’t they know

That I have died of late years,

Untombed although?

I am but a shape that stands here,

A pulseless mould,

A pale past picture, screening

Ashes gone cold.

….. Yet is it that, though whiling
The time somehow
In walking, talking, smiling,
I live not now.

Thomas Hardy’s Dead Man Walking

Maithripala Sirisena, the sixth executive president is the ‘title’ and the subject of this essay. Dead man walking is a euphemism for a person trapped in an untenable position and is about to lose his exalted roost.

Fifteen days after the carnage on Easter Sunday, President Maithripala Sirisena appeared before parliament on Tuesday 7t May.

With ill-disguised condescension he told parliament “I am the sixth person to hold this office”.  

Oh! Didn’t you know that?  was the implied refrain.

Then with unbelievable audacity and brutal contempt he posed his damning rhetoric – “Am I the first president under whose watch bombs exploded?”

His spine-chilling gambit has a logic and a purpose. He has convinced himself that he bears no responsibility for the blood bath.

The ‘whisper’ or the implicit message is clear. Come October, he intends to seek a second term. Self-delusion is not his exclusive preserve. There are others.

The Indian intelligence warning reached our powers that be on 4th April. On 16th April Sirisena left the island on his pilgrimage to the Tirumala temple to perform the ‘Suprabhatha’ ritual and offer prayers to the presiding deity of Lord Venkateswara in the early hours of Wednesday 16th April. He returned in the early hours of 22nd April via Singapore.

President Maithripala Sirisena visits the bombed out St Sebastian’s Church Katuwapitiya

Sirisena’s many “Firsts”

That makes him the first president who was out in Singapore, shopping with his immediate and extended family, when terrorists struck multiple points in a coordinated attack with the highest toll on human lives in a single day in this benighted land. 

He is the first President and Minster of Defense who left the island when the state he presides over   had already received a serious warning from our Giant neighbor India whose spying technology is as good as its ability to explore outer space.

For India, Islamic fundamentalist terror is more than a ‘thinkable threat’. It is an unthinkable threat.  To Indian Intelligence agencies, Islamic fundamentalism is an imminent, immediate and real threat.

Intelligence throws light on what exists but obscure. A rather complex proposition to a ‘Grama Sevaka’ mind conditioned to catch the culprit with the bunch of bananas. (I deeply regret voting for the Swan on 8th January 2015).

Sirisena is the first President who alleged that an Intelligence arm of the Indian state was hatching a conspiracy to eliminate a serving president of Sri Lanka.

He is the first president who swore in the Leader of the Opposition as the Prime minster with no notice to the incumbent Prime minister in a cloak and dagger operation.  

He is the first President whose executive act of dissolving parliament was held as unconstitutional by the Supreme court.

He is the first President to claim that an action held to be unconstitutional was undertaken with a mind of untainted purity – ‘Sathbhavayen’ with advice from Erudite lawyers who were also President’s Counsel.

He is the first President of Sri Lanka who got our permanent representative to the United Nations to vacate his seat for his son to watch ‘papa’ addressing ‘universal mankind’. 

As for ‘firsts’, President Maithripala Sirisena has carved his niche in the history of our dysfunctional democracy.

President addresses Parliament on 7 May
Sirisena dead as a Dodo

It was scary listening to him in parliament on Tuesday. Politically speaking he is dead as a dodo. Mahinda Rajapakse will not agree to make him the anti UNP common candidate.

It was scary to watch a man elected to high office with the hopes of six million two hundred thousand men and women explaining the inexplicable.

It was agonizing in the wake of the carnage of Easter Sunday to listen to a man totally dead inside no longer feeling any sadness but driven only by an agenda to cling on to power. 

I am expressing my opinion. Criticism is not mudslinging. 

To be alive and unfeeling?  It’s impossible for me to contemplate that it is a natural condition of a politician in the pursuit of power. It is frightening. Hence my resort to the poetic description of Thomas Hardy’s ‘walking dead man’.

The dead man is “untombed” and merely a “shape that stands here,” a “pulseless mould.”

Rewind dear reader to the house proceedings last Tuesday. The house listened in detached discomfort. The members were singularly conscious of the unfeeling of the speaker.

This writer believes in Hobbes’s dictum that the purpose of the state and the role of the president of a state is to prevent ‘war of every man against every man’.  In that sense this President is politically finished. But finished men don’t feel pain.

 As Thomas Hardy voices in profound poetry, he is nothing more than “a shape that stands there.”

That the shape stands there is the work of the self-obsessed super strategist Ranil Wickremesinghe- another subject of another essay for another day.   

Big questions Big answers

The nation now awaits the key findings of the   special three-member committee appointed to probe the Easter Sunday terror attacks.

The President has promised that it will be made available to all parties. If it is not doublespeak, all parties should include ‘we the people.’ 

There is a question that demands an unambiguous answer.  We were warned of the possible attacks. Why didn’t we stop them?

There are questions that need to be answered by either the committee of inquiry or by the defense establishment headed by the President.

What was the routine and standard operating procedures adopted after receiving the first warning and subsequent updates from the Indian agencies?   

What was the form of the existing organization and most importantly the role of the key decision makers in the organization?

The nation awaits with bated breath to learn how decisions were made by policy actors and operational actors.

 What is most vital to know, is the truth that explores “the influence of unrecognized or undeclared assumptions upon the thinking” that led to the first official knee jerk response that the magnitude of the disaster exceeded their threat assessment.


Such blunders are not triggered by a unitary actor such as the Defense Secretary or an IGP partial to parade his proclivity to act the bozo.  His present stance indicates that beneath the bozo lies a brave spirit. We must await unfolding events.  

There should have been   some discussions on the reports received and some bargaining of ideas within the organization structure that reaches up to the commander in chief.

Gotabaya Rajapakse put in place an efficient intelligence outfit. Robert Blake is right. It served the state in fighting the war against terrorism.

 After the war   GR abused it for political purposes which again is a different subject to be explored another day.

Efficient or otherwise our intelligence mechanism was politicized   and key individual decision makers with varying degrees of influence shaped the organizational actors.

The President has already briefed us about his cultural disconnect with Prime minster Wickremesinghe.

Hemasiri Fernando is the president’s personal pick. 

Just as he holds Ranil to be responsible for his selection of Arjuna Mahendran, the President is responsible for replacing Secretary Kapila Waidyaratne with Secretary Fernando.

It is possible that Sirisena’s cultural connectivity with the suave cosmopolitan Hemasiri Fernando was not based on a bonhomie as strong as his cultural intimacy with some other good people in the defense outfit whose unalloyed native instincts managed to stir deeper heart strings in the simple peasant mind.

We already know that Hemasiri was capable of discerning the distinction between the ‘Ranaviruwa’ and the ‘Mineemaruwa’. A distinction on which Sirisena had his own convoluted views.  

In the business of Sate Security and Intelligence gathering I tend to agree with Graham Allision the Harvard Don whose seminal study

‘Essence of Decision’ based on the Cuban Missile crisis is now a standard text book on national intelligence and crisis management.

Decision makers in the inner sanctums of intelligence have different perceptions, priorities, commitments and organizational positions. Where you stand depends on where you sit.  

We can only hope that the committee of inquiry has determined who sat where and who stood up to what and when ?  

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

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Sri Lanka MP slams budget speech for omitting Tamil national question

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

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Sri Lanka sells extra Rs6.5bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

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Sri Lanka Treasury bill yields hold broadly steady, less bills sold

The settlement date is November 13. (Colombo/Nov13/2026)

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Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

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Sri Lanka private sector says timely implementation of Budget 2027 key

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

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Sri Lanka stocks trend lower day after budget reading

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)

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