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Wajira raises issue of onus on settling defaulted payments
UNP Chairman Wajira Abeywardena said yesterday that the onus was on the government to take constructive steps to address the issue of defaulted payments on international sovereign bonds by diverting money allocated for certain other projects for settling them, and by entering into discussions to restructure such payments, without resorting to outright ceasing of such payments, as it will have a direct negative impact on the economy.
Addressing a press conference in Colombo, Abeywardena said that the decision taken by the Government to cease all international payments on sovereign bonds, has, in effect,taken a, high toll on every sector of the country, including many successful businessmen.
“Even though the present Government is insolvent, it did not affect the business activities of our businessmen who were making profit through their day-to-day business. However, the drastic decision taken by the Government has resulted in most businesses closing down,” he said.
The UNP Chairman said that the Constitution has granted full powers to Parliament on handling Public Finance, as per the provisions of Articles 148, 149 (1), 151 (1). But despite such full powers being granted to Parliament, Sri Lanka became an officially insolvent country in April 2022.
“In such a dire economic circumstances, the public must be made aware of the fact that recent economic analyses have shown that certain treasury bills issued by the Sri Lankan Treasury have lost recognition in international bond markets. It was incumbent upon the Government to pay around $ 70 million on sovereign bonds in April this year, and another $ 1.5 billion by 15 June,” he said.
Abeywardena added that although it has been stipulated in the budget that such payments shall be made in due time, if the Government is unable to fulfil such payment due to poor inflow of revenue, such fact must be duly reported to Parliament in accordance with the provisions stipulated in the Constitution, following which Parliament has the mandate to establish a Contingencies Fund, despite any provisions to the contrary being stipulated in Articles 149 and 151.
Abeywardena added that the Ministry of Finance should bear direct responsibility for the great tragedy that has befallen the country. “Any citizen whose name appears in the Crib is denied any loan facility by Sri Lankan banks. It is an onus on the Government, too, to keep in mind that it is now in the same situation.
“If foreign nations refuse to grant loans to Sri Lanka, we will end up as a bankrupt country. Therefore, similar concessions need to be granted to Sri Lankan businessmen who have become insolvent due to imbecile decisions taken by the Government,” he said.
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
