Prime Minister Ranil Wickremesinghe has charged that the Mahinda Rajapaksa led administration has sentenced the country into a debt trap of almost Rs. 10 trillion.
Speaking in Parliament on Tuesday, Wickremesinghe alleged that due to the arbitrary procedures adopted by the previous government, the country is today submerged in a debt of Rs. 9.5 trillion. “This could even be Rs. 10 trillion,” Wickremesinghe said.
Prime Minister Ranil Wickremesinghe
But according to the Premier, instead of taking loans like previous governments and trying to get out of this crisis, his government was looking at increasing the income from within the country. “This is what we are trying to do,” he said, soon after proposing several tax amendments.
To get out of the current dept trap; Wickremesinghe said that his government was specifically focusing on bringing in new investments to the country, increasing job opportunities and exports, and implement an effective and proactive income tax process.
“Even when we were drafting the national budget for 2016, we still did not have the exact information about the debt situation the country was in. The previous government had hid all these information. It was a typical situation where the skeletons were hidden in the cupboard,” Wickremesinghe charged.
“Even though the Rajapaksa’s made a huge racket saying they were building roads and highways, it is our government that has to pay for these,” he said. According to Wickremesinghe, the debt of the highway ministry alone stands at Rs. 24 billion.
“The Rajapakse’s ate and sent the bill to us to pay,” he added. ( By Munza Mushtaq @ Colombo Telegraph )
Harry Hotter / March 9, 2016
Every Govt in Sri Lanka ( Ceylon ) since 1948 ate and sent the bill to the next Govt to pay.
Thats not uncommon and will continue till the end of the world.
Sri Lankans have now become world famous to eat and drink merrily and send the bill for someone else to pay.
It can be seen from the bulging stomachs of the Sri Lanka politicians that they are ever ready to eat, drink and depart leaving the bill for someone else to pay.
There is a joke that at a world conference of surgeons they were asked on whom they liked to operate on and whom not operate on.
The reply from all was they liked to operate on anybody accept Lankan politicians because they ( the surgeons ) ran the risk of blunting the scalpels as the lankans had thick skins.
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Amarasiri / March 9, 2016
Prime Minister Ranil Wickremesinghe
RE: Rajapaksa Sentenced Sri Lanka Into A 10 Trillion Debt Trap: PM Wickremesinghe
“Prime Minister Ranil Wickremesinghe has charged that the Mahinda Rajapaksa led administration has sentenced the country into a debt trap of almost Rs. 10 trillion.”
Please lay it out and expose.
“To get out of the current dept trap; Wickremesinghe said that his government was specifically focusing on bringing in new investments to the country, increasing job opportunities and exports, and implement an effective and proactive income tax process.”
That is fine. In the meantime can you recover the stolen billions from the Rajapaksas and his cronies?
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sarojini / March 9, 2016
Yes ,the billions 18 billion to be precise will pay all the debts and set SL in the Utopia that people want . SO where is this 18 BIlliion dollars ????
This is the dreaded disease BSE ( BLAME SOMEBODY ELSE ) !!!
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Native Vedda / March 9, 2016
sarojini
When you got a few minutes to spare would you please ask MR where he has hidden the loot?
“This is the dreaded disease BSE ( BLAME SOMEBODY ELSE ) !!!”
MR must be blaming the victims.
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Max / March 9, 2016
But the Rajapakse’s took thieving to a whole new level and why is “helping hambantota” not being put in Jail????????? Bloody thief and Hypocrite joining hands at temples and robbing and murdering. good buddist.
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Ceylonese / March 9, 2016
Not the next government, rather the future generations. The curse of Raja Paksha will continue to haunt the tax payers until the present government audits the previous regime and takes every step to repatriate the Billions from the MidEast.
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Barathan / March 10, 2016
It is true that every government in SL ate heavily and passed on the bill to the next government. The result? The $ at Rs 5 is now at Rs 145.
In December 1989, Ceaucescu who had borrowed heavily from the West subjected the people to immense hardship. To his credit lies the achievement of loans very nearly paid back. Yet the fall of the Berlin Wall, the collapse of USSR and the disintegration of East Europe, impacted adversely on Rumania and her dictator.
In 2 days after fall and capture, he and his wife were executed. On whether to investigate or not, a full 14 months have been lost in SL. The result? A livid, shell shocked, disoriented and broken down ex-President shows signs of life. Challenges to the government are thrown about. SL sees all signs as bad.
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Liyanamahathaya / March 9, 2016
Surely, there must be more than one provision in the Statute books to bring the cheating Rajapakses to book for all at least some of their major financial crimes. We know they blindly plundered the country, surreptitiously invested the stolen loot in Dubai, Mauritius, Canada, the USA and elsewhere. Most people believe this “you scratch my back and I yours” culture among the country’s top politicos that protects this family and many other rogues. It was the Rajapakses who destroyed, in the last 9 years, the once respected Middle Class in the country the UNP painstakingly built from 1977. Why can’t they, at least some of the major ones, be brought to justice? It is the lack of action in this regard which many Sinhalese take for granted as trumped up charges against the Rajapakses by the Sirisena-Ranil government.
On the other hand, it almost looks like MR still commands over 5 million Sinhala Buddhist votes in the country. This, of course, is symbolic with customary Sinhala Buddhist idiocy. By the way, the country is sinking so fast within months we will reach the levels that economically destroyed Zimbabwe – once one of the few prosperous countries in Africa. The other reason is, of course, most of the plunderers in the Rajapakse regime are now part of Sirisena’s gang – which includes Aiyo Sirisena as well.
Let us thank our wise Mahanayakas for either sleeping or hiding in their comfy temples while the country was going down the river. It is only rarely they come out with the theatrical comedy “the Sangha saved the country from impending danger over 2,500 years!!!!
It is time for all of us to collectively cry and sing I cry for you, my beloved Sri Lanka. Because, it looks almost impossible to save the bleeding country.
Liyanamahathaya
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Parakrama / March 9, 2016
Like Harry said this is the world trend not only Sri Lanka (look at US debt rate)
But this government says they cant dance due to earth being not even. This a good lesson for those who voted for Yahapalanaya saying anyone is better than MR. What do you expect from leaders fall from sky? Remember CBK came from nowhere, her time is the only time our economy went backwards since independent. Next 5-10 years will be the same, with in-fighting rudderless leaders and government in power.
Liyanna, seems to have access to all bank accounts all over the world? Why can’t you give that information to FCID. Talk is cheap, do people still believe these things?
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CJ / March 9, 2016
Mahanayakas are busy restricting higher-ordination on ‘caste’ lines.
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Peter / March 9, 2016
A great discovery!!! Was he sleeping during the time he enjoyed the opposition leader position?
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justice / March 9, 2016
Ok, but what is happening now?
Loosing state enterprises are conveniently ignored.
Recently a minister justified a rent of Rs.21 Million monthly for his office.
Even now projects are not internationally advertised and the best chosen by tender procedure.
Each politician has dozens of assistants with many designations, and many are family members.
Why does a politician want more than one vehicle?
Why cant a common pool of vehicles be created and supplied as and when necessary.
Why are politicians allowed to sell vehicle permits.
Why dozens of personnel to guard the bodies of politicians at great expense.
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thrishu / March 9, 2016
So, go and that money from Rajapakshas. Don’t Burden the Public with your taxes, and don’t expect the public to bail out Rajapakshas.
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Native Vedda / March 9, 2016
thrishu
Didn’t MR single-handedly win the 30 year war? Where is the reward for winning the war?
Whatever missing in the coffer should be written off as reward paid to MR.
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Quetzel / March 9, 2016
“Single-handedly”? What do you mean by that Vedda?
Did MR fight the war single-handedly?
Were there no expenses accounted in that 30-year period for fighting the war?
Isn’t a “head-of-state” paid the remuneration assigned for his position? Did MR have to plunder the poor citizens of the land in order to be compensated for his “services”?
If there was any “reward” that had to be handed out, it should have been to the families of the many men and women who died or were seriously handicapped while “on-the-line-of-duty”, and not this entire thieving family, that exported all their extorted loot, like Liyanamahathaya says, lest they be discovered.
Why is the present govt. just talking about all that the previous govt. robbed and not yet brought MR and his accomplices to book yet? Send the law after this robber and recover all his stolen gold whether here in SL or abroad.
The hard-working commoner of the land does not have to finance the ill-gotten wealth of the Rajapakses or the massive debt left behind. By what century do you think that the common man can finish paying enough taxes to so?
Go after the thieves Ranil and don’t expect poor citizen Perera to bridge this massive debt.
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rew / March 9, 2016
Exactly, do what is necessary legally, against the previous President, without coming out with stories about his/their misdeeds. These are well known now.
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Leelawathie / March 9, 2016
Thrisu, what is the percent of taxes you monthly pay in Uk ?
In Germany it is like over 50% we have to pay as taxes. This culture should be introduced to lankens – what is wrong with that ? But as you and any right thinking ones see it -not putting the burden on the poor of poor. In that way only you can develop the country. Basta.
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thrishu / March 10, 2016
In Germany, ou pay 50% for the highly developed infrastructure and facilities, future security, own social security, pensions and national prosperity that you enjoy there. It is also your choice to live there. And everybody rich or poor have to follow suit, pay due taxes, no one is exempted because they are MPs, family of corrupt leaders, big businessmen etc etc. Can you ever compare it with what we get in Sri Lanka, like for like. Only a couple of years ago, the dastardly government tried to tax the villagers their drinking well. If you want to impose Western system here, first bring the country to an equal footing, including putting criminal politicians in front of judges.
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WalaGemba Raja / March 9, 2016
“Even though the Rajapaksa’s made a huge racket saying they were building roads and highways, it is our government that has to pay for these,” he said. According to Wickremesinghe, the debt of the highway ministry alone stands at Rs. 24 billion.
“The Rajapakse’s ate and sent the bill to us to pay,”
If the PM knows that this is “fraud” as claimed by him, then why is it that none of these “fraudsters” behind bars or unable to be prosecuted for their bad decisions and rackets they have perpetrated during the previous regime? Can someone please explain this to me? May be I attended the wrong school and not had the distinguished honour to sit at MIT to listen to this “Fellow’s” rubbish!
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Harmanis is angry / March 9, 2016
So what do you want us sri lankans to do, Ranil !!!!!!!!!!!
Pay the Raja-Pucksirs bills. ??????????????????????????
If you have not the GUTS to go after the ROGUES and get the loot back, then better you go HOME before someone comes along and kicks you out.
You are getting on every ones nerves like a cry baby. ” He snatched my lollipop, someone get it back to me.”
Go and fight to get the lollipop back before the whole damn thing is licked and the stick given back to you.
SRI LANKA IS FED UP with poofs like you.
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Leelawathie / March 9, 2016
Hey, Over 48 lacks of people voted for Rajano.
So why not they have to bear the burden left by Raja.
If all the assets of Raja kith and kin would not make up those billions from where you want to get them ? Do you want RW to pay it ? What alternatives have we got if not going for tax increases ?
Taking loans again can never be a solution: Do you think that so called mid income nation would be granted billions to gap up the arrears.. the way gonthadiya handled all the state assets and left the manner is beyond all acceptabnce. Even today, man is not sensing the gravity of th eproblems created by his cooperation. Parah.. deserves to sink rest of his life… now the nation have to face it like or not.
One way or other this need to be discussed with Maharaja… and make the general public very clear about his real behaviour.
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Mihiri Fernando / March 10, 2016
Leelawathiyo,
this happened to any country, when people allowed wrong soldier to take the weapon.
Now with almost everything becoming clear, still there are gambbatayos like yapa dares to add thoughts like CB issue created the misery not the billions eaten by Maharaja Et al.
Maharaja has no excuses- with his eldest son being taken to custody soon. WHoever whatever being said, they looted the country aseven not comparable to uneducated afro leaders did it.
The kind of idiotic presidents we dont have in the world today.
Journos, please interview former President not allowing him to prevarticate – please question him about each and every issue accordoingly and bring them to press so that the nation finally could know the gravity of problems left by the bugger et al.
Please do your job to the word, then this nation will wake up.. they have to. Not only Sirasa, Colombo Telegraph but also other powerful insituttions should wake up LET alone today.
This is clarioN call me being in Rome.
This nation has every right and potential to become a progress nation similar to one of far eastern tiger nations. We can be an another malaysia to the region, if you Journos do the job proerply. dont be stick to the Maharaja et al – please reveal more of their village level courrption – this nation will be grateful to you if you would react properly:
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Wera / March 9, 2016
This is not at all surprising. It is one of the reasons apart from astrology that MR called for early elections. But what may help the people who have to bear this burden is if every effort is made to prosecute and expose the monumental levels of corruption that led to this situation. This is not merely one government passing the burden to the next. The previous regime was not a normal government but an extraordinarily corrupt one. But to do anything first the aegean stables have to be cleaned out. But what has happened is that the stable remain uncleaned due to the pusillanimity of some of the current ministers who harbor plans of their own to engage in corruption with the connivance of the very same officials who served before. Can we at least have a sum total estimated on how much money has been robbed? Or are we going to continue to pay the debts with no idea of how things ended up this way. I heard CBK mention figures regarding the coal power plant. She should have a pretty good idea based on her own dealings as president and what the Chinese ambassador intimated to her. For heavens sake start counting. Or is that too much to ask?
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JJ / March 9, 2016
The comments of Liyanamahathaya and Justice (above) echo my thoughts in their succinct and apropos comments on some of the major problems we face in our ‘taken for granted’ political sphere.
Unless measures are taken to rectify these glaring shortcomings of the more recent administrations, our polity will be cursed forever with the low-life political characters that overflow in the seats of Parliament.
This is the best time to set the examples by charging the criminals of the previous administration (now that the evidence seems to be in place) and to clean out the present bunch who have inveigled their sordid ways into positions of power.
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Patriot / March 9, 2016
What a discovery after One and half years in power. Well what the Batalanda Ranil is not saying to the people is that his naive belief that the west and hindia will give billions of dollars in low interest loans did not materialise. Even the IMF and WB are putting conditions that they did not put for MR’s government. The shit has hit the fan. People no longer buy the Rajapaksa story.
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Native Vedda / March 9, 2016
Patriot the pathetic
“What a discovery after One and half years in power.”
Not really, it has been one year, two months and a day, 426 days in total.
One and a half years falls on 7th July 2016, approximately 549 days from 8th January 2015.
How long would you have taken if you are assign to audit state books, given that MR’s are cronies are still working for him in various departments and ministries.
Since you are one of MR’s b***s carrier, you would not have to conduct a walk through audit, just ignore all International Auditing Standards and declare the state’s revenue and expenditures were risk free including, fraud, mismanagement ……….. asset impairment in the just over 9 years from 2005 to 8th January 2015.
Would you like to take up auditing as your next career move?
What were the UPFA MP’s doing in the 9 or so years of MR’s reign?
While enjoying crumbs thrown at them they completely ignored the big thief.
Are you one of them?
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Wow / March 9, 2016
OR.. This could all be a made up story from Ranil/Mangala clan. Do you think the poeple will keep there mouths shut about the amount of curruption of the stellar level which Ranil talks about? Don’t be so naive. According to Mangala Smaraweera, the amounts should add up to 10 bil. Do yu know how hard it is to get money out of the government system? You have to fill out dozens of vouchers and forms to get any money at all. The paper trail would be as long as the mahaweli river. Its a good story saying that it takes time to catch all the thieves, but what’s really happeing is that the current government is robbing you blind. They will still be saying the same story untill the next election. Thajudeen, Avant guard, Lasntha.. what’s next? What ever bullshit story to keep you voters happy untill the next election
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Patriot / March 9, 2016
To get out of the current debt trap the prime minister should stop unnecessary wastage in his government ministries. He should have turned down the request of former Rajapaksa henchman Duminda Dissanayaka, now the minister of Agriculture, to pay a monthly rental of Rs. 21 million to his friend(Sabitha’s husband) for a building in Rajagiriya to house the agriculrure ministry. May be Duminda being a henchman of the new president, Sirisena, and Sirisena once being an obedient servant of Mahinda Rajapaksa Ranil had no other alternative other than approving this deal.
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Point of View / March 9, 2016
Totally agree. That building is not worth 21 million a month. What is the catch ? Has Sabitha found someone from Yahapalanaya in place of Gota ???
Many private sector Companies were interested in that property but commented that it is far too expensive. Only a dumb Minister got caught to the crafty Jayasinghes.
MS / RW – why are you wasting public money ? Do these agriculture guys need such a brand new building ??
Idiotic Duminda is comparing the WTC rental with a building in Rajagiriya. WTC is prime property and departments such as BOI should be based their.
Who pays for this rent ? Agriculture Ministry ? Do they generate that much income ???
Shame on you Duminda, shame on you MS and RW !!!
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justice / March 10, 2016
Patriot,
Thanks. Now we know why this exorbitant rent while many are living on one meal a day.
This is totally immoral as well as an unwanted profligacy.
Why are Sirisena and Ranil allowing it?
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jay pathbey / March 9, 2016
The Rajapaksas have absolutely no class.
Has anyone seen how southerners eat at a dining table if invited. They would serve all the available foods (virtually pile them up on their plates) and gobble them all down. They simply do not care about others.
Rajapaksas were no different. I have never met such selfish, uneducated, savages lot in my life.
Bloody savages.
JP – USA
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RR / March 9, 2016
You said during your 2 political campaigns that you would not put the burden on the Public because you could find money for the country’s development from those who had stolen public money (a few trillions); you meant the Rajapaksas and his henchmen but it is certain now you and your henchmen had lied through their teeth.
The Rajapaksas may have stolen a lot of wealth but they did the job too. Look at the mammoth projects he started and completed during and after the war. Can you show me a single project of national importance that your Yahapalana government has started after you came to power? Continuous criticism of the Rajapaksas would not bring bread and butter to our dinner table and actually it may backfire!
Mr. Prime Minister! Please remember, many voted for you and your coalition not to get penalized or financially tortured on a daily basis, but to see a systematic development of the country and a gradual improvement of the quality of life of Sri Lankans.
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Shrikharan / March 9, 2016
So why are you Ranil still protecting Rajapakse and his family who together looted country, charge him and his family. You said in public aired on all TV channels, soon after his defeat after the Presidential elections he tried to stage a coup. So why did you leave him go scot free? It is a very serious an attempt to steal the right of all citizens of this country. Why are you now not talking any action?
Or is it that it was your own imagination and creation only to discredit Mahinda Rajapakse who in the eyes of the public he left Temple Trees even before the final results were counted. In that case you should resign for bringing false and serious charges against a citizen of your country where you abused your position as Prime Minister when you announced officially of Rajapakse attempted to nullify the elections and recapture power.
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Point of View / March 9, 2016
He is too arrogant to learn from his mistakes !
We did not vote them into power to protect MR or his Wife ! How come MS / RW decide not to prosecute them ???
This will be their down fall one day !!! Law is applicable to anyone !!!!
Shame on you MS ! Shame on you RW !!
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Jim softy / March 9, 2016
Ranil wickramsinghe and Ravi KArunayake issued billions of dol.ars worth bonds and they borrowed from every where, Belgium, Saudi Arabia and IMf.
Because, of Saudi Arabia, Sri lanka has now Sharia system, Because of IMF, they had to increase Taxes, Because of Beligium, who ever the force behind will crash the rupee and he will go assets in Sri lanka cheap.
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Antany Peter / March 9, 2016
This government’s strategy to pay the debt is blindly signing the ETCA with India. Is he any better than MR when it comes to managing economy? Politicians won’t allow smart Lankans to get involved. Talented Lankans end up in the West. This country is a breeding ground to develop the Western countries and produce maid for the Middle East. Thanks to dirty self centered politicians.
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Wow / March 9, 2016
Who the hell are we in debt to? Why are you not making those information public. You make all these accusations but with no proof. For a whole year it was Avant guard, Thajudeen, Lasantha and that’s it. Nothing in the development sector. And you say the government don’t wanna borrow more money. Then why the heck did you finish the allocated quota of foreign debts within the first 4 months of coming to power? For every damn problem you face you blame the previous government. Its been your manthra for a whole year. Its easy to say that the previous government left you with debts, but from what we see, the previous management was able to hold onto our foreign reserves while not letting the country go bankrupt. The economic development rate was at a plus. Where’s your goddamn evidence to blame it on the previous government??? Bullshit claims everyday. You gave away 10000 to all government workers when you came to power, not thinking about what this will do to the economy. and what about your skeletons in the closet? I’m not talking about the literal skeletons from batalanda and millenium city. I’m talking about the bank bonds scam. With idiots like you running the country we are doomed. And where’s the money you said that the Rajapaksa’s stole. Mangala samaraweera the liar was talking about 10 billion was he not? When you do the calculation, even with 10% commission you can’t make that amount. And are meaning to tell us that such an amount could go missing without a trace just like that? no paper trails, no witnesses? Bullshit.. Your government is a failure. You are just trying to cover up your inability by blaming it all on the previous government. Fool
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K.A Sumanasekera / March 9, 2016
Even if Batalanada PM’s bullshit is true, these are mainly low cost Chinese Loans which would have been payable when able.
Now that you have kicked the Chinese out. you and your Yahapalana suckers have to wear it.
Because the Dalits don’t have any Income to pay Tax, Neither they have Capital to pay Gains Tax.
But here is some good news for the Yahapalana suckers to drown their sorrow, although they soon will be paying extra 5 % on Red Label and the Bacon Bites while working out their GCT for next year.
Minister for our Govi Ralas’ Mr Duminda has signed a lease for his his Office at LKR 21 Million a month in Rajagiriya .according to the Elite Rag In Colombo the Daily Mirror..
This is a colossal sum of money even in depreciated LKR.
To get the gist of it, my digs in Wellala Gardens is only LKR 20 Million, now.
Minister for Goviralas is paying more than that a month, to sit at his desk and issue cow manure to our Dalits.
Or is it Glycophosate ?..
In Dollar terms for the benefit of Diasapora and Surendran, it works out to USD 1.75 Million per annum at the current rate of 144 LKR .
Wonder how much Suren Surendran and UNP London pay for their premises in London.
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ELDORADO / March 9, 2016
Ranil, pure and simple. If you are unable to find solutions to the existing problem, irrespective of who created them then give up and go, let someone who can do the job take over. This will be the true democratic way of doing it. There is no point in you crying from the roof top of what someone has done. It was precisely for this reason that he was packed off and you were brought in. We expected you to have started the cleaning up operations long time ago, instead of which you are still ‘fujigrafing’ around. It appears there are a lot of things you can start doing, as they are staring you in the face, instead you are STILL crying out about what has been done !!. Get going man…. otherwise just…..off !
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Gune / March 9, 2016
As Rajapakse is to famously say “I am from the village” (in direct contrast to his luxury living standards) he also ran the country like a village – Insecure of the outside world, persecution complex from the west when he himself had no hesitation in persecuting the Muslims and Tamils and even his own Sinhalese people who opposed him. Many of the rich countries want to lend their money to gullible and fools like MR. MR always made quite a celebration about his development plans which came at a massive cost to the people. We allowed him to getaway with this after he lined his pockets and his family’s pockets. Now we have to be patient and wait for this government to turn this around.
But there is also a serious WARNING for this government. Please be mindful of what you also do. The Arjuna M case, Ministers over spending on their offices, Ministers who are not practicing what the government preaches about Yahapalanaya, stupid utterences by Ministers on how HIV spreads, the Ranawaka accident case which is in violation of all laws and the police towing the line, there is absolutely no need for squad cars and follow-up vehicles speeding on the roads of Colombo any longer as no politician’s life is under threat other than the public who are vulnerable to accidents in such cases, MS taking his son to the UN and the list goes on….. Don’t let this list annoy the people and they will not hesitate to defeat you like the way they defeated MR despite him finishing the war. He has shamelessly gone down in history as the only President who couldn’t complete his full term in office in SL. The same shame will await you if you do not ensure Yahapalanaya.
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Jim softy / March 9, 2016
Only the Brain-Dead get caught in this kind of Circus. Ranil Wickramasinge is Saying He is not capable of doing it. That is why he is coming to the Parliament DRUNK.
Remember long ago, Sri lankan govts were blaming the previous govt and the WORLD MARKET.
So, it is the same game even now.
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Vanguard / March 9, 2016
“He says the country is mired in a debt trap and is facing an economic catastrophe. Mr. Sirisena has pledged he will stop mega corruption and wastage and act to provide the country with development ten times that of the past six years and provide relief to the people. – See more at: http://www.dailymirror.lk/59363/11-vital-provisions-for-maithri-palanaya-editorial#sthash.e0sRqaGI.dpuf“
Time to make good on the campaign promise?
Nothing to worry we are in good hands.
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Dr.Rajasingham Narendran / March 9, 2016
Dear PM,
We do understand the extent of the harm the MR government has done to this country on many fronts. We are angry no doubt. We are also angry that they have yet not been prosecuted and put where they belong. How much has your government recovered from what they looted? Why is there so much tardiness in the process? Bold accusations have been made, but yet no evidence has been produced! Everything is yet up in the air.
However, we are being asked to pay the price for the sins that are not ours. It is the government that has sinned and is continuing to sin. The government should start tightening it’s belt, as never before. There is profligacy every where yet. Cut the previleges granted to all politicians from the very top. The change should be immediate and visible. Do we need to rent a new building for the agriculture department for 20 million rupees per month? Why was new housing prepared for the president at a cost of Rs. 600 million? Do we need so many ministers? Why do we spend money on semi-government institutions that are not profitable? Eliminate corruption in the customs and excise departments.
I am sure you know more than anyone else about what should be done. Be bold and do it. You have everything to gain and nothing to lose. You will be our greatest hero.
Dr.Rajasingham Narendran
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Maghribi / March 9, 2016
Politicians by their very nature and their very presence distort, destroy, sodomize economic order and they also steal from the unborn and create economic distortions in the future, kind of like meddling time travelers, literally the mother of all economic screw ups.
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D.Nimal / March 9, 2016
Christian democratic leadership of UNP Ranil W….blaming and claiming that Government of Sri Lankan in debt 10 Trillion Rupees outstanding after MR left Power 2015 January.9th. Is that correct ?
Most of political parties, leaders, businessmen, economist and general public have yet to fathom the real cause of debt of our national economic meltdown in 2015 January 9th now that has shaken Sri Lanka development by UNP leaders statement.
Indeed People continue to believe that the ongoing credit bubble and current government debt are unrelated to one years mishandle of financial operation and indiscipline of that misrule economy by UNP Ranil W…. of Regime. Not that understanding they are intimately tied debt to the waning of UNP economic policy an introduce since 2015 January 9th.
The UNP Neo-colonial wisdom remains mired in the belief that someone the credit and debit are merely fault of failing UNP
Neo-liberal policies to properly forced by IMF, WB and ADB want to our nation oversee deregulated national (Sri Lankan national Market) market an open for US, EU Japan and India.
UNP leaders of Ranil W….. will unable to get the roots of economic crisis and fix it last 16 months since 2015 January 9th.
Ranil W… as leader of UNP, man of politics is that he is an intelligent person? Or politician? He is not that. He want blame his mismanagement of whole system to other ,is batter to passed it to MR ruling alliance!
Since 2005 MR being to power there was political economic and social instability in Global scale had been badly effects to Sri Lankan developing path of under-development capitalism of Neo-colonial type of economy since 1977.
1 Year 2008 July price of oil world market peaked at a record $147 per barrel. Just seven years early oil selling at under $24 per barrel.
Needless to say that Virtually every commercial activities in Global and Sri Lankan economy is depend on oil and other fossil fuel energies.
2 We grow or food in petrochemical fertilizers pesticides on oil. Hence most of our construction materials cements, plastics most of our pharmaceutics products are related fossil fuels. Most of part cloths are from petrochemical synthetic fibres. Due to rise of Oil price our import bill has gone double during MR era of economy management.
3 The collapse of Wall street in credit bubble and financial crisis feed into worst Economics uncertain in during MR era of instability of development since 2005 on wards.
It was worst Great Depression in than US in 1929.
When US economy almost collapse in 2008 August that had been negative effects on Sri Lankan development of economy as well.
When country saving dried up, we have to borrowed billions of Rupees more local and fore in market ,living off the match of our still-unrivalled economic prowess and continued to spend money, we did not have all of which fueled the US globalization process. Millions of Sri Lankan challenge by Unemployment.
4 2004 December Tsunami in Sri lanaka lost life more than 400,00 people and lost of properties are huge, that was unable to recover for many years to come.MR being to power 2005 was edge of collapse to national economy, but his leadership has proved economy back to recovery track within short period of time.
5 Since 1977 to 1994 UNP-JRJ regime has initiated that War tone Gun Rule politics instead of politics of ballots by means of govern by Sri Lankan way of democracy .Indeed that UNP war tone political legacy has left to MR alliance came into power 2005.
Entire nation was in bleak future during the mismanagement of CBK’s rule 1994 to 2004 of neo-colonial politics of SLFP leadership under the CBK.
In fact CBK betray national bourgeoisie stand and she shifted to UNP type of Neo-colonial policies during her 11 years misrule of Island.
When MR being to power 2005 he was handed over ruthless Gun rule political class of Tamil bourgeoisies of Eealm politics back by US UK and Indian big powers.
MR alliance has unprecedented challenge by Tamil War politics back by TNA and other Tamil outfits since 2005!
6 The 30 years war launch by LTTE Tamil terrorist has been undermined economic development and its path. The War tone economy and instability and uncertain political situation in Island has lost billions of foreign US $ direct and indirect investment from oversees during that three decades.
7 MR progressive and democratic alliance after defeated LTTE ruthless Tamil petty bourgeoisies separatist that Sri lank back peaceful era, that laid foundation for pace economy development.
MR led progressive and democratic alliance has been challenge by LTTE led war had been hindrance to the development of many major projects in Sri Lankan.
I want to noted down and reminded to Ranil W… of UNP orthodox leader to be study by 2008 Obama bailout package Us $ 750 Billions dollars; the US collapse of Wall Street accumulated household debt in USA was closed in on US $ 14 trillion.
I want UNP leader get an idea of how deeply debt US households are consider that 20 years ago. Family income average debt equalled about 83%. After ten years 92 % of family debt has risen. By 2007 household debt has risen 130% of their income.US economy that unemployment, underemployment and saddled with debt . The record 2.9 million homeowners received foreclosure notices on their houses in 2010. US debt ceiling has rise now up to US $ 18 trillion dollars in year 2016.
Altogether the two movement of US and Indian -RAW in Sri Lankan strikes demonstration, combining in various political parties including UNP leadership many forms in ours democracy on several occasions grew in and in depth, become more and more reactionary came ever more closer in practice anti-democratic gun rule politics against majority people.
Which is right thinking and progressive and democratic had long spoken then UNP came power 2015 January 9th.
The Ranil W…of Christian democratic of UNP that talk of economic gossip to instead of real term of economic crisis of politics has been an introduced by Neo-liberal out dated system of capitalism advocated by UNP moribund democracy.
MR economic policies are sustainable to majority of people of
Sri Lankan.
MR economic policies are moderate suited to our development in time being. It is not prefect one ,but it can develop into path and model of Sri Lankan way of New model of capitalism.
MR policies are more advance than UNP policies the gain made by the revolutionary democratic movement .Which has brought about a realisation of democratic sustsnibility of practical economic urgency of task and made it an essential of development issues of an our current democratic stage.
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akb / March 9, 2016
lol
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Siri / March 9, 2016
you don’t have to write pages to describe Ranil’s speech which was made in the parliamant which served to the “gallery” with no figures to substantiate claims. If one summarises this situation in three words, it would be:
IMPOTENCE (Nohakiyaawa)
ARROGANCE
CHINESE DEBACLE
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jen / March 9, 2016
Whilst we all know the robbery that took place during the MR time what were you guys in the opposition doing . keeping quiet and watch it all happen. Now that you are in power you can’t expect the public to pay for the MR Bandism..
1. You need to put the thieves behind bars.
2. Then you can proceed to solicit help from the public to bridge the gap.
3. you need to cut down on the expenses by eliminating the jumbo cabinet and show the people that you are cost cutting.
Otherwise its matter of time before some one takes you to court with an injunction…….
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Analyst / March 9, 2016
@ Jen
Good question em? were they scared stiff of the White vans and the live sharks reared in the Tanks by GORA? OR paid to stay mum to be on the good books of MARA & CO? During the last regime of the thieves.
More like the latter…. They all scrubbed each others backs and still scrubbing the thieves backs.
We are the fools expecting the YAHAPALANAYA to throw the Thieves and the Murderers in to the shark tanks which will never happen.
He’s just scoring points for himself and his party by throwing these out of the pram.
RW is just fooling us and the Yahapalanaya supporters lock stock and barrel.
Mr Ranil , Please answer us how do you allow all those thieves and murderers to walk and talk everywhere including the sacred premises where we worship Lord Buddha. Please stop your Humbug and get on with which we voted you for…
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ajantha / March 9, 2016
Wickramsinghe this is shame. Dont act as a naked man. Tell the world that you are incompetent of holding this post. Please please dont become a laughing stock. Why do you blame others. Catch them if you have proof.
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Babaralatha Jayakodi / March 9, 2016
So what allternative you have on your disposal ? Please come with that ?
THere you say, incompetent.. while the buggers were looting the nation for their pockets, you said nothing. Ajanatha – the idiots you represent will drive srilanka to ruins. Taking taxes from anyone and everyone but not influecing the poor is the only alternative any country has got. Just to stay being isolated letting idiots to abuse lanken assets cant bring us forward – those who have money should alllow them to circulate within the 22 million folks then only we can raise the head. Else, you the like frogs can stay centuries to see lankens becoming a progress state
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Douglas / March 9, 2016
Mr Prime Minister: You were the Leader of the Opposition during the entire regime of that “Monster” MR. What were you doing during that period in Parliament? In that capacity did you not know or cared even to examine and expose the “imposition of trillion debt” on the people of this country? Please admit your failure as the then Leader of the Opposition.
Now you cry. The people knew all that, although you DID NOT KNOW; but unfortunately they did not have the freedom to talk loud. You mentioned about the “High Ways” and other superficial projects such as the Mattala Airport, Suriyavewa Sports Stadium, Sri Lankan Airlines, etc. etc. We knew all that and those were not secrets to us but to you. Therefore, it is no EXCUSE to tell all that to us, because you KNEW but kept “MUM” and that is an “Indirect Support” extended to that Monster. Now you are in COMMAND. So FIX it. One proposal to you to fix it. First close the “HOLE IN THE BUCKET” in your hand with the plaster of “Good Governance”. Next RE-COUPE all that Public Funds “Robbed” and “Swindled” by the “One Family” you refer to and by the “Goons”. Instead of providing that “Biggest Rouge” – Sajin Vass with PSD Security, bring him to book and at least get him to pay all that he “ROBBED” including the funds transferred to those “LOBBY AGENCIES” he hired in USA. Go after the ex Central Bank Chairman, Cabral and get him to pay for all those money spent on acquiring real estates in Brazil, USA and also the “Lobby Agencies” hired in USA. Go after the Chairman of the Road Development Authority (RDA) who swindled million on road projects. Get the ex Presidential Secretary to pay the Rs. 600 million spent on “Sil Redi” (Devotees Clothes).
Mr. Prime Minister: The door is open to you. Enter the arena and RE-COUPE all that money ROBBED and SWINDLED from those BASTARDS. That is the only way to find the “Trillion” you speak of; BUT please, please, DO NOT think of any way to IMPOSE that BURDEN on the PEOPLE. The PEOPLE will not tolerate it and that will be the END OF THE RAOAD for you.
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Rajash / March 9, 2016
“Rajapaksa Sentenced Sri Lanka Into A 10 Trillion Debt Trap”
very strong statement indeed.
Rs10 Trillion sounds a lot.But for the public to understand the scale of the problem the PM should explain what is 10 Trillion in the context of the GDP or total Budget of the country?
is it 1% or 2% or 200%?
After a making a strong statement the PM is then shows his weakness and powerlessness against the previous regime
He did not make ant strong statement that the Rajapakse’s will be made accountable and the Govt will take tough action on them.
His panacea also sounds very weak and unachievable.
Why is the present govt dragging its feet instead of going after all the assets of all the Rajapakse siblings hidden all over the world. Surely their funds can be frozen?
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