News
Prez urges MPs to sink differences, support IMF deal
By Saman Indrajith
President Ranil Wickremesinghe told Parliament yesterday that the MPs had been left with no other alternative but to support the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) for Sri Lanka.
Delivering a special statement in the House when the IMF/EFF facility was taken up for debate, the President said that there was no other solution for the economic crisis here. Nobody had come up with any alternative. This is the only path to recovery and therefore all MPs would have to vote for this, the President said.
“Sri Lanka’s total debt is USD 83.6 Billion. Foreign debt amounts to USD 41.5 Billion. Domestic debt amounts to USD 42 Billion. We need to restructure the debt. A separate discussion on debt restructuring will be held with China after which discussions will get underway with private creditors.”
President Wickremesinghe said that Sri Lanka was expected to receive financial assistance of USD three billion within the next four years. “Sri Lanka can expect to obtain a total of USD seven billion as financial assistance from various institutions, following the necessary discussions. We cannot put conditions, prior to the discussion, as it will result in the other party also putting forth conditions. We have to first engage in discussions and then look at the various issues,” he said.
The President said that some banks have raised concerns that the Colombo Stock Exchange would collapse due to certain measures taken with regard to the banking system.
“Some banks say they cannot face this situation. Then all I have to say is take over this responsibility and carry forward the economy. The stock market says that it will collapse. If that happens, I will close it down. They cannot come and speak about conditions now. If that is the case and the CSE collapses, then I will shut it down. Various sectors cannot come forth and put conditions at a time when the country is slowly moving forward. The matter will be discussed in Parliament and a final decision will be taken, which will be conveyed to the relevant sectors,” he said, adding that eight months after the unrest in July 2022, Sri Lanka has now made a comeback. “This is Sri Lanka’s comeback story.”
The President urged the whole country, including opposition political parties, to join in the efforts to resurrect Sri Lanka.
“Some trade unions have raised their issues with regard to taxation. All those things can be discussed and resolved. We, the whole Parliament, should be turned into a government in order to complete this purpose. Let’s get together for this, despite the differences in opinions.”
He said that now the country should be built up for the year 2048. “If we don’t do this, we will ruin the future of the youth”, he said.
“We have no alternative except for the IMF. No one has proposed any such programme. In the absence of a working alternative, our option is to approve this, the President said.
The IMF/EFF will be taken up for debate in Parliament for three days from April 26 to 28.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
