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Friday November 13th, 2026

UNP silent on Gnanasara Thero’s pardon

It is mystifying that the United National Party is yet to articulate its position on the release of the Sinhala Right-Wing demagogue Galagodaththe Gnanasara Thero from jail, through a Presidential pardon.

The UNP has neither publicly supported nor condemned the pardoning of this Monk, who has for over a decade been at the forefront of leading Sinhala Buddhist supremacist ideology.

Instead it remains silent.

That silence is deafening. This seeming inability to take a position on such a fundamentally important issue reveals a governing party that has tied itself into knots and has become immobile.

President Maithripala Sirisena has pardoned Ven. Gnanasara. It is also a known fact that Sirisena in looking for a possible second term is flailing in the dark, looking for a savior. He may be hoping that freeing the Thero would win him some votes.

One of the President’s senior staff told this columnist, “it will make some Sinhala Buddhists happy.”

But by pardoning a man who has been accused of repeatedly instigating mobs to attack minorities, particularly Muslims, Sirisena has legitimised anti-minority violence and hate-crime.

Sirisena’s narrow political interests
President Maitrhipala Sirisena meets Glagodaththe Gnanasara Thero and his Mother at the President’s residence on Thursday/ President’s Media Division

The President of the Methodist Church Bishop Asiri Perera correctly observes that the move was “for narrow political interest.”

In the past decade or so Gnanasara Thero has been publicly warning the authorities of Islamic extremism. After the Islamic state-inspired Easter Sunday attacks, and his release from jail, Gnanasara has become a Prophet.

But the UNF and Wickremesinghe cannot dump the entire responsibility on Sirisena.

The Centre for Policy Alternatives (CPA) quite rightly pointed out that although it is the President who has granted the pardon “the wider government” must accept responsibility.

In a media statement immediately following Gnanasara’s release, CPA points out that the Minister of Buddha Sasana, Gamini Jayawickrama Perera had “earlier endorsed requests by religious and political third parties to issue the pardon, and numerous members of the government have spoken out and acted in support of it.”

“Accordingly, the government as a whole must justify, with stated reasons, why the grant of a pardon in this case will not be inconsistent with the Constitution, the rule of law, and the administration of justice in Sri Lanka and will not exacerbate inter-communal tensions. Anything less will directly undermine the legitimacy of Sri Lanka’s democracy” the statement added.

At a time when communal tensions are high releasing a high-profile Sinhala Right wing activist such as Gnanasara is surely ill-advised and likely an incendiary act.

It is a time where there is widespread paranoia about Muslim Sri Lankans. They have faced many threats since the Easter Sunday attacks.

Anti Muslim paranoia at its highest
Mobs attacked Muslim-owned businesses in Minuwangoda destroying 28 shops and damaging nearly 65/ Pathum Dhananjaya RepublicNext

One such instance is of a Muslim family involved in the textile business who are currently in protective custody following a threat from a mob that accused them of having for sale cloth which seemed to depict the robes of a Buddhist monk.

Police inaction in the face of anti-Muslim mobs is legion. The Human Rights Council is the latest body to fault the police in this regard after the anti-Muslim violence in the Kurunegala and Gampaha areas which erupted earlier this month. The HRC has said that there was evidence that the Police watched as the mobs rampaged.

In an egregious case police have arrested a wealthy Obstetric Surgeon whom the Nationalist Sinhala daily Divaina has accused of sterilizing “thousands of Sinhala Buddhist women” without evidence or complainants. Professor Hemantha Senanayake Head of Obstetrics and Gynecology at the University of Colombo calls the accusation “implausible.”

At the same time the Minuwangoda police have failed to arrest the Deputy Leader of the Pivithuru Hela Urumaya, Madhumadava Aravinda whose role in inciting the May 13 riots in that town is clearly gathering evidence.

There is great disquiet amongst the legal fraternity about the release of Gnanasara.

As the CPA points out the pardon “cannot be called a fit and proper exercise of that power by any metric.  The trial, conviction and sentencing of the Thero raised no legitimate questions of any miscarriage of justice and there was ample opportunity for the Thero to fully exercise his right to a fair trial by appealing his conviction. Indeed this option was pursued by him at both the Court of Appeal and the Supreme Court which both duly dismissed the appeals. As such, the pardon itself amounts to an undue interference with the legal process” it adds.

Methodist Bishop Perera did not mince his words. The pardon he said is “direct ridicule hurled against the independence of the judiciary carried out by the executive of this country. Such acts of the executive of our country are repeatedly pushing peace-loving citizens to utter frustration.”

No wonder Justice Minister Thalatha Athukorale “is incensed. She threw a fit,” multiple sources in the government said. Athukorale had gone up to Wickremesinghe and demanded that something be done. But the Prime Minister had demurred and said the government would allow the pardon to go ahead.

The action has deeply affected the minority communities.

The Tamil National Alliance which has stood by Wickremesinghe through No-Confidence Motions and other travails says “it makes the minorities in the country feel that they are no longer safe.” The alliance also accused the government of allowing majoritarianism “to take to a new level.”

Ranil admits people have lost faith in politicians and parties
On Saturday the Prime Minister Ranil Wickremesinghe met leading Civil Society figures/ PMD handout

On Saturday Wickremesinghe met with leading Civil Society figures. They were Dambara Amila Nayaka Thera, Dr. Wickremabahu Karunaratne, Dr. Paikaisothy Saravanamuttu, Dr. Jehan Perera, Prof. Chandraguptha Thenuwara, Saman Rathnapriya and Raja Uswetakeyiyawa.

All powerful folk who had thrown their weight behind the Yahapalanaya idea at great personal risk.

At the meeting, Wickremesinghe admitted that his government is aware that “a lot of people have lost their confidence not only in the government but in the political system, we have to win your trust back not only in the way we do things also in the measures we take and the results you see on the ground. Party politics have become a dirty word today to many of our average voters.”

When the participants addressed the Gnanasara issue Wickremesinghe had implied that it was up to civil society to take action.

So why has the UNP not addressed the Gnanasara issue head on?

If Wickremesinghe thinks that it will win him support from the Sinhala Buddhist majority, he is wrong. That vote is pretty firmly secured by the Podu Jana Peramuna. Political actors such as the Sinhala Right-Wing parties led by Udaya Gammanpila and Wimal Weerawansha ensure that.

On the flip side the UNP’s silence has spread disquiet among its minority allies.

In an interview with the Sunday Observer published yesterday (26) UNP stalwart Minister Malik Samarawickrama says the UNP is a “democratic party and will choose a Presidential candidate” through a democratic process.

So is the decision to remain non-committal over the Gnanasara pardon also a democratic one? Has a majority of the party-members or its leadership decided this is the best way?

Or is it that the party leader Premier Wickremesinghe has decided on his own and his word is law.

It is also a cowardly decision. The UNP wants to hunt with the Gnanasara hounds and run with the minority Rabbits.

Wickremesinghe may have a vast vision for Sri Lanka’s future. But his small mind is killing the little hope there is of saving this nation that is fast hurtling towards an undemocratic one!

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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