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Tuesday October 27th, 2026

SJB calls on Police chief to protect Harin Fernando

Harin Fernando Member of Parliament from Opposition Samagi Jana Balavegaya

ECONOMYNEXT – The main opposition Samagi Jana Balavegaya (SJB) is calling on the Inspector General of Police to offer extra security to their Member of Parliament Harin Fernando after President Gotabaya Rajapaksa appeared to threaten the Badulla MP in recent remarks.

At a press conference held in Colombo today, SJB Parliamentarian Eran Wickremeratne said Fernando has asked for extra protection after the President said he had the LTTE leader who had bombed him “killed like a dog.”

Wickremeratne said that the record of assassinations, corruption and violence with the years of previous Rajapaksa rule is “well known.”

“It is 12 years since Lasantha Wickrematunga was killed and his family has yet not got justice,” Wickremeratne said.

He added that although the current government came to power promising to punish those who were responsible for the Bonds scam and the Easter bombings the government has failed to do both.

Meanwhile, in the letter Fernando has written to the IGP and released by the SJB on social media the MP has said that he “saw video footage of President Nandasena Gotabaya Rajapaksa delivering remarks at an event in Uhuna, Ampara. In his remarks, the President refers to me by name and addresses speeches made by me in Parliament in which I referred to his first name, Nandasena. The President stated that he has a peaceful side and a dark side and that he is perfectly capable of returning to his dark roots from his tenure as Secretary of Defence.”

“As you can see from the annexed video clip and transcript, the President fails to differentiate between a seditious, genocidal terrorist tyrant and a legislator exercising his fundamental right to freedom of speech in Parliament. He must be reminded that I have never engaged with terrorists. I have never bribed terrorists to prevent the Tamil people from voting. I have not embraced Karuna Amman, who has butchered more police officers than any man who ever lived. Above all, I am and have always been, a citizen of Sri Lanka and no other country.”

“The President clearly insinuates that he is capable of having me “killed like a dog” if I continue saying things that displease him. So long as he continues to fail in his duties, I must do my own duty by continuing to say things that displease him, whatever the risk to my life. Therefore, I must bring this matter to your urgent attention. Given the serious nature of the threat made by President Nandasena Gotabaya Rajapaksa, who is also Commander-in-Chief of the security forces and Minister of Defence, I have no reason to doubt him when he implies that he is capable of doing me harm.”

“But I am stunned that the President is so agitated simply because I mentioned his first name. Presidents have long been called by their names or initials. No one has been threatened with death for using the names “JRJ”, “Premadasa”, “DB”, “Chandrika”, “Mahinda” or “Sirisena”. Unless the President proves otherwise, I find it difficult to believe that members of the Buddhist clergy have truly advised him to resort to violence. My understanding as a Catholic is that Buddhism shuns violence and espouses peace.”

“I am painfully aware that many journalists, activists and Members of Parliament who criticized the President when he was Defence Secretary have since either disappeared or been assassinated. In many of these cases, the attacks were preceded by implied threats or frivolous litigation initiated by politicians and officials including Nandasena Gotabaya Rajapaksa. Indeed, it is ironic that the President turned his guns on me exactly 12 years after Lasantha Wickrematunge, one such man who fearlessly expressed his thoughts and opinions, was assassinated.”

“I ask that you kindly arrange without delay, to provide me with adequate security against this grave threat to my life and to my duty to speak freely on behalf of the 2.8 million voters who supported the Samagi Jana Balawegaya. It is my fundamental right to say what I wish without fear of being summarily executed like a terrorist.”

“Mr Wickremaratne, I must remind you that you are the Inspector-General of Police for the Republic of Sri Lanka, not the personal servant of Nandasena Gotabaya Rajapaksa. Protecting the life and liberty of Members of Parliament discharging their duties is not a personal favour I am asking of you, but an exercise of your solemn duty to defend the Constitution of the Republic, which you are sworn to do. As a career police officer, I trust that you do not want to be remembered as the IGP who oversaw the first assassination of a Sri Lankan Parliamentarian since the end of the civil war.”

“For the record, this is the first time I have ever received a credible death threat. I am used to democratic politics, where politicians engage each other and debate their ideas and opinions. This is my first experience of a political opponent trying to terrorize me into silence using fear and the threat of violence. Since I refuse to be silenced, if I am killed, I must assume it will be at the behest of the only man who has ever threatened to kill me.”

“In the hope that it will result in additional pressure on Nandasena Gotabaya Rajapaksa to desist from the criminal course of action he appears to be contemplating, I am copying this letter to the Speaker of Parliament, the Attorney General, heads of foreign missions in Colombo and the United Nations Special Rapporteurs on Freedom of Opinion and Expression, and on Extrajudicial, Summary or Arbitrary Executions.”
(Colombo, January 10, 2021)

Reported by Arjuna Ranawana

Sri Lanka Cabinet approves $60mn OPEC Fund loan for Mahaweli project Phase 2

ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers has approved a proposal to enter into an agreement with the OPEC Fund for International Development (OFID) to secure a 60 million US dollar loan facility for Phase 2 of the Mahaweli Water Security Investment Program (MWSIP).

The total estimated cost for Phase 2 of the program is 536.5 million dollars, which the government plans to finance through co-financing arrangements with multiple development partners. The Asian Development Bank (ADB) has already agreed to provide 200 million dollars toward the program.

“Phase 2 of the Mahaweli Water Security Investment Program is planned for implementation to achieve the Government’s long-term objectives: enhancing food security in the Dry Zone, strengthening water resource management, improving resilience to climate change, and alleviating poverty,” Minister Nalinda Jayatissa said.

Following prior cabinet approval on July 20, 2026, to begin negotiations with OFID, the development fund confirmed its willingness to provide the 60 million dollar facility in two components of 48 million dollars and 12 million dollars.

The proposal was submitted by the President in his capacity as the Minister of Finance, Planning, and Economic Development.

Under Phase 2, key construction works include finishing the remaining section of the main tunnel with about seven kilometers of excavation, constructing 68 kilometers of open and covered canals, conduits, and short tunnels, and building an eight-kilometer canal section for the Ellapothana Irrigation Project.

The project will also establish commercial farming infrastructure, including around 13 pressurized distribution networks to supply reliable irrigation water for high-value and field crops.

The cabinet paper noted that the phase will also focus on:

“Transforming agricultural production systems by introducing climate-resilient value chains and expanding farmers’ access to financial services and agricultural project-related services.” (Colombo/Oct27/2026)

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Sri Lanka stocks close up, ASPI gains 0.27-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Tuesday, CSE data showed, with the benchmark All Share Price Index moving up 0.27 percent.

The ASPI was up 52.11 points at 19,693 (19,692.67), while the more liquid S&P SL20 was up 0.19 percent, or 10.44 points, at 5,612 (5,612.31).

Positive contributors to the ASPI were Dialog Axiata (up 0.48 percent at 42.20 rupees), Carson Cumberbatch (up 1.02 percent at 670 rupees), Ceylon Cold Stores (up 1.25 percent at 121.50 rupees), Laugfs Gas (up 5.07 percent at 37.30 rupees), and Lion Brewery (Ceylon) (up 1.86 percent at 1,849.75 rupees).

Colombo Dockyard (down 3.74 percent at 95.30 rupees), Vallibel One (down 1.19 percent at 83 rupees), Hatton National Bank (down 0.27 percent at 367.50 rupees), LOLC Finance (down 2.22 percent at 4.40 rupees), and LOLC Holdings (down 0.64 percent at 390 rupees) were top negative contributors.

Market turnover was 849.37 million rupees. Materials led turnover with 229.66 million rupees.

Digital Mobility Solutions Lanka announced a first interim dividend of 2.75 rupees per share for the financial year 2026/27, subject to withholding tax. The ex-dividend (XD) date is November 5, 2026, and the dividend payment is scheduled to be dispatched on November 25, 2026. (Colombo/Oct27/2026)

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Sri Lanka rupee closes at 332.40/50 to US dollar spot, bond yields edge up

ECONOMYNEXT – Sri Lanka’s rupee closed at 332.40/50 to the US dollar in the spot market on Tuesday, weaker from 332.25/35 the previous day, while bond yields closed slightly higher, dealers said.

A bond maturing on 15.09.2029 closed flat at 11.08/15 percent.

A bond maturing on 01.08.2030 closed at 11.55/60 percent, up from 11.45/55 percent.

A bond maturing on 01.02.2031 closed at 11.75/80 percent, up from 11.70/75 percent.

A bond maturing on 01.12.2031 closed at 11.85/95 percent, up from 11.80/90 percent.

A bond maturing on 15.01.2033 closed at 12.15/30 percent, up from 12.15/25 percent.

A bond maturing on 15.10.2034 closed at 12.5/60 percent, up from 12.45/55 percent. (Colombo/Oct27/2026)

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Sri Lanka approves performance-based framework for SOE collective agreements

ECONOMYNEXT — Sri Lanka’s Cabinet of Ministers has approved a new performance- and sustainability-based framework for collective agreements in State-Owned Enterprises (SOEs), which will take effect from January 1, 2027, minister Nalinda Jayatissa said.

The decision follows an earlier cabinet decision when the government decided to extend existing collective agreements in state enterprises under their current terms and conditions until December 31, 2026, while preparing a revised structure for 2027.

To facilitate the transition, the Secretary to the Treasury appointed an expert committee tasked with reviewing the current collective agreement mechanism and formulating the new framework.

Following consultations with relevant stakeholders, the committee submitted its report.

According to Jayatissa, the expert committee recommended aligning workplace pacts with key statutory regulations:

“It is recommended that collective agreements be implemented within state-owned enterprises, subject to the Industrial Disputes Act, the Trade Unions Ordinance, the Shop and Office Employees Act, and other relevant labour laws.”

The new structure also addresses employee incentives and financial returns.

“Recommendations have also been put forward regarding a framework for profit-sharing and bonuses.” (Colombo/Oct27/2026)

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Sri Lanka awards Rs756.9mn road project to Asset Engineering

ECONOMYNEXT – Sri Lanka’s Cabinet has approved a proposal to award a road improvement contract to cover an additional section of roadway in the Central Province to Asset Engineering (Pvt) Limited, minister Nalinda Jayatissa said.

The contract is valued at about 756.9 million rupees (excluding taxes).

The project will upgrade the road from kilometre 10+500 to kilometre 16+890 on the Norwood-Bogawanthalawa-Campion (B329) route.

Bids were called and 3 bids were received, Jayatissa said. (Colombo/Oct27/2026)

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Sri Lanka to lease 15 plantation properties to investors

ECONOMYNEXT – Sri Lanka’s Cabinet has approved the long-term leasing of 15 state plantation properties to selected local investors, minister Nalinda Jayatissa said.

The assets are owned by the Sri Lanka State Plantations Corporation, the Janatha Estates Development Board and Elkaduwa Plantations Company.

The government had earlier called for expressions of interest from investors for 1,514 hectares of land, 10 tourist bungalows and scenic locations, and 15 inactive factories managed by the three plantation entities.

A total of 470 investors submitted expressions of interest, Jayatissa said, after which shortlisted applicants were invited to submit detailed proposals.

“The government received 44 proposals covering 50 land and property lots.”

“Cabinet approved the proposal to lease 15 selected land and property plots to investors on a long-term basis.”

The government expects the initiative to attract private investment and improve the utilization of underused plantation-sector assets, he said.

He did not respond to reporters’ questions on how long the lease periods are, or how much the government hopes to raise through the leasing, or if the lands and properties will be distributed among parties loyal to the government.

Historically, most lands under the SLSPC and JEDB originated from the 1972 and 1975 land reform laws, when large privately owned plantations were taken over by the state. Many tea, rubber and coconut estates were nationalized and later placed under state plantation entities. (Colombo/Oct27/2026)

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