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Friday June 2nd, 2023

Sri Lanka Attorney General claims “grand conspiracy” behind Easter attack: report

Attorney General Dappula De Livera

ECONOMYNEXT – There is clear evidence of a grand conspiracy linked to Sri Lanka’s 2019 Easter bombings, the privately owned NewsFirst network quoted Attorney General Dappula De Livera as saying today (18).

In an exclusive comment given to NewsFirst, the channel reported, De Livera has said that information by the state intelligence service, “with times, targets, places, method of attack and other information is clear evidence there was a grand conspiracy in place with regard to the April 21 2019 attack.”

The identities of those involved in the grand conspiracy must come by way of evidence, the AG has said, adding that there are multiple suspects connected to the attack including Maulavi (Islamic preacher) Mohamed Ibrahim Mohamed Naufer, “the person that the Sri Lankan government ruled as the mastermind of the attacks.”

On April 06 this year, Public Security Minister Rear Admiral Sarath Weerasekara said Naufer and one Rasheed Hajjul Akbar, both of whom are in custody, had been identified as the only confirmed masterminds of the attack. The minister told reporters that no other suspect had been identified as having masterminded the attacks and stressed that the government has no intention to hide its findings.

The official account has been contested by opposition lawmakers and others. Main opposition Samagi Jana Balavegaya (SJB) MP Harin Fernando in a controversial statement made in parliament on April 20 claimed that the Islamic preacher was never brought before a presidential commission of inquiry that probed the Easter bombings.

In his comment to NewsFirst today, the Attorney General said Naufar is a key figure in the alleged conspiracy.

“It is not possible to confirm if he was the mastermind though he is the leader of the group. The suicide bombers are the people who executed this conspiracy and they’re not among the living,” the network quoted the AG as saying. A considerable number of people who assisted the suicide bombers have been identified detectives, he had added.

“The conspirators of these attacks are at a different level. People like Zaharan Hashim, the leader of the group that carreid out the attacks, would’ve been involved in the conspiracy though he decided to explode himself,” the AG was further quoted as saying.

“For the moment, the investigators have brought evidence of foreign individuals who are connected to the attacks and these people are referred to as others unknown to the prosecution,” he add added, noting it is probable they would never be known.

In a letter written to the Inspector General of Police (IGP) and a subsequent statement to the public, AG De Livera said last Saturday (15) that he has been unable to press charges or file indictments against the conspirators and abettors of the attack due to the Criminal Investigation Department (CID) investigations being incomplete. The AG’s statement prompted Minister Weerasekara to seek a report from the CID.

“I inquired a report from the CID about the reasons for such a statement at the last moment,” Weerasekara told reporters.

De Livera is expected to retire at the end of this month.

On May 06, he turned down an appointment as High Commissioner to Canada.

The AGs’ Coordinating Officer (CO) State Counsel Nishara Jayaratne was unavailable for comment.  (Colombo/May18/2021)

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Sri Lanka to ramp up weekend fuel deliveries after petrol price cut

More deaths reported at Sri Lanka fuel queues

ECONOMYNEXT – Sri Lanka’s state-run Ceylon Petroleum Corporation will be operating on the weekend to complete all fuel deliveries to end vehicle queues forming outside fuel stations after the price revision earlier in the week, Energy Minister Kanchana Wijesekera said.

“Instructions have been given to CPC and Ceylon Petroleum Storage Terminals to continue fuel deliveries on Saturday and Sunday this week to supply sufficient stocks to all fuel stations,” Minister Wijesekera said in a TWITTER.COM MESSAGE

“To reduce expenses on overtime, CPC and CPSTL have not been operating on Sundays and public holidays in the last 4 months,” Wijesekera said.

“Non-placement of orders by fuel stations from last Saturday, anticipating a price reduction, not maintaining minimum stocks, immediate increase in demand by consumers after the price revision, and quota increase have created shortages in the fuel stations.”

The Minister in April 2023 said all fuel stations would be required to maintain a minimum of 50 percent of stock tank capacity.

“I have asked CPC to review and suspend the license of fuel stations that had not maintained minimum stocks.” (Colombo/ June 02/ 2023)

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Sri Lanka bonds yield up at close, rupee at 291.75/292.50 against the US dollar

ECONOMYNEXT – Sri Lanka’s bonds closed steady on Friday, dealers said, following the central bank’s decision to cut its main policy rate by 250 basis points.

The Spot US dollar closed at 291.75/292.50 rupees, dealers said.

The rupee opened at 290.25/75 to the US dollar Thursday and closed at 292.50/295.50 to the US dollar.

A bond maturing on 15.09.2027 closed at 24.70/90 percent up from 24.50/90 percent a day earlier, dealers said.

A bond maturing on 15.05.2026 closed at 25.75/26.25 percent up from 25.00/26.00 percent a day earlier.

A bond maturing on 01.05.2025 closed at 27.00/30 percent, up from 26.30/27.00 per cent at last close.

A bond maturing on 01.07.2032 closed at 20.25/21.00 percent, up from 20.00/40 per cent at last close.
(Colombo/ June 02/2023)

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Sri Lanka’s shares edge up on positive macroeconomic sentiments

ECONOMYNEXT – Sri Lanka’s shares closed higher in trade on Friday, over positive macro-sentiments encouraging investors to redeem their interest towards buying, an analyst said.

The main All Share Price Index was up 0.72 percent or 62.19 points to 8,753.80,  while the most liquid index S&P SL20 was up 0.68 percent or 16.87 points to 2,487.29.

Sri Lanka’s inflation in the 12-months to May 2023 has eased to 25.2 percent from 35.3 percent a month earlier according to a revised Colombo Consumer Price Index calculated by the state statistics office.

Prior to the Monetary Policy investors were quite optimistic that inflation is to lower and interest rates will decrease and since exp, an analyst said.

Sri Lanka Central Bank is waiting for the government proposal on the domestic debt restructuring (DDR), the central bank governor Nandalal Weerasinghe said amid uncertainty over DDR and speculations over instability in the banking sector.

“On debt restructuring, the borrower is the ministry of finance’s treasury. Certainly we will announce what the strategy will be. We are waiting for a government proposal,” Weerasinghe said.

Sri Lanka’s investors are waiting on assurances to be made on debt restructuring and optimization, Central Bank Governor Nandalal Weerasinghe said, “It is up to the government to clear the uncertainty, because from our side we have done that part.”

The central bank cut the key policy rates by 250 basis points to spur a faltering economic growth as inflation was decelerating faster than it projected.

The speculation of DDR has hit the market and the risk premium has kept the market lending rates well above the central bank’s policy rates. The government has yet to present its plans on DDR.

Weerasinghe said the central bank has done its best to reduce the risk premium through bringing down the market lending rates while keeping the policy rates unchanged.

Sri Lanka’s President Ranil Wickremesinghe has discussed progress of International Monetary Fund program and debt restructuring during a visit of Deputy Managing Director Kenji Okamura, statement said.

“The discussion primarily focused on the progress of the IMF program between Sri Lanka and the IMF,” a statement from President’s office said.

“Attention was also paid to the on-going debt restructuring negotiations.”

However Officials from IMF have said Sri Lanka has to focus on expanding taxes.

“We discussed the importance of fiscal measures, in particular revenue measures, for a return to macroeconomic stability,” Deputy Managing Director Kenji Okamura said in a statement.

The finance ministry this week issued rules requiring everyone above 18 year of age to register to pay income tax.

“I was encouraged by the authorities’ commitment to negotiate a debt strategy in a timely and transparent manner.

The market generated a revenue of 738 million rupees, while the daily average was 1 billion rupees.

Top gainers in trade were Vallibel One, LOLC Finance and Browns Investment. (Colombo/June02/2023)

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