Tamil Information Centre
User Name:   
Password:   
  Remember Me  
Sign up  |  Forget password
Home   
Search
    Contact us
Listen to the Religious leaders
Published Date: 20/02/2018 (Tuesday)

Religious leaders, business leaders and the Governor of the Central Bank are among those who have made loud calls for Sri Lanka's fractious politicians to resolve the current crisis surrounding the Government of Prime Minister Ranil Wickremesinghe as soon as possible.

The Mahanayake of the Asgiriya Chapter, of the Siam Nikaya Most Venerable Warakagoda Sri Gnanarathana Thera, has now added his voice to the chorus of calls by asking the parties to form a Government.

He has said that the way forward should be through the formation of a Government by a single party or alliance and wants an end to the Unity Government.

The Mahanayake condemned moves by political parties, leaders of political parties and the Government to retain power or topple the Government calling them a lust for power.

The statement pointed out that the current situation was adversely impacting the economy.

That is precisely what the Governor of the Central Bank Dr. Indrajit Coomaraswamy said last week. He too called for a quick resolution.

Bucking the trend, the Colombo Stock Exchange closed the week last Friday (16), on a positive note, as the benchmark index closed higher with increased foreign buying, despite opening on a negative footing due to the apparent political instability.

The benchmark All Share Price Index (ASPI) on Friday (16), gained 0.16 per cent (10.48 points) to close at 6,563.69 points, while the S&P SL 20, representing the top 20 listed entities gained 0.11 per cent (4.20 points) to close at 3,705.21 points, Ceylon Today reported. The day's turnover reached Rs 737 million, lower than Thursday's (15) Rs 878 million, with 79 winners ahead of 61 losers.

After seeing foreign capital retreating on Thursday, the CSE saw a foreign inflow of Rs 110 million on Friday (16), as foreign purchases amounted to Rs 157 million as against Rs 47 million.

The rupee which was falling all week also saw a recovery on Friday.

The benchmark 'spot' 'held' at Rs 155.00 to the US dollar in two way quotes at Friday's, (16 February) trading compared to its previous day Thursday's close of Rs 154.90/155.10 to the dollar on thin volumes, market sources told this newspaper.

'Nonetheless, the fact that the gap between the 'buy' and 'sell' quotes has since narrowed by Friday is a reflection that stability is returning to the interbank foreign exchange market', they said. Going forward, it may strengthen to the Rs 154.50 level, sources said.

These sources blamed the win for the Sri Lanka Podujana Peramuna at the Local Government Polls for the fall.

But instability and its impact on the exchange rate cannot be a permanent feature, sources said. The rupee fall has bottomed out, they said.

Sri Lanka's politicians have constantly been known for their propensity for power-grabbing.

After the results of the LG polls became known what our Indian neighbours call 'horse trading' began behind the scenes. The term, which means hard bargaining with benefits for both sides, was accompanied by dozens of rumours being spread and plenty of misinformation on Social Media.

Some of those stories made it into the mainstream media as well.

These stories have exacerbated the situation, turning it into a crisis.

What we lacked in the entire period was an individual or group with the credibility to explain the reality of the situation to the nation. Everybody was seen as partisan to one competing political entity or the other.

That is why the statements by the religious leaders are timely and should get a hearing.

What we needed to do, when the Governing coalition got a drubbing at the LG polls, was see how the constitutional process works if this electoral result means that the Government is so unpopular that the leaders must go.

The President has to appoint the person who commands the confidence of Parliament as Prime Minister. Unless he resigns of his own free will, he needs to be defeated by a motion of no-confidence in the House to be removed.

This in itself is a crisis, but the furore that was created by misinformation and fake news caused the impression of a greater instability than was the factual situation.

That is why the investors became nervous and some took their money and fled.

The market stabilizing is probably an indication that investors feel that this might end as a storm in a teacup.

Let's hope so.

Source: Ceylon Today

Share on Facebook


 Latest 25 News/ பிந்திய 25 செய்திகள்:
Sri Lanka\'s UNF expects Wickremesinghe re-appointment, JVP wants \'coup\' leaders punished
Published Date: 20/02/2018 (Friday)
‘Citizens’ as suckers
Published Date: 20/02/2018 (Thursday)
Wheelchair Expedition 'Perseverance' Finished in Point Pedro Challenging 'Challenges in Life'
Published Date: 20/02/2018 (Thursday)
UNP: Purported pact with TNA, forged by SLPP
Published Date: 20/02/2018 (Thursday)
Diasporas as a force in foreign affairs: the case of Tamils in Britain and Canada
Published Date: 20/02/2018 (Thursday)
Life in 'slavery' or as a refugee? Cuban doctors' stark choice in Brazil
Published Date: 20/02/2018 (Thursday)
US lawmaker seeks an end to Chinese debt trap
Published Date: 20/02/2018 (Thursday)
US envoy called upon to exercise diligence - Cabraal
Published Date: 20/02/2018 (Wednesday)
Lanka’s high ageing population, a cause for concern - WHO
Published Date: 20/02/2018 (Wednesday)
Estate workers protest against Thondaman
Published Date: 20/02/2018 (Wednesday)
TNA says its support was conditional
Published Date: 20/02/2018 (Wednesday)
Teach everyone’s history for reconciliation
Published Date: 20/02/2018 (Wednesday)
First comprehensive survey of Sri Lankan art organized by a U.S. museum opens in Los Angeles
Published Date: 20/02/2018 (Wednesday)
New study estimates 500 Tamils disappeared in Army custody in Sri Lanka after surrendering at the end of the war in 2009.
Published Date: 20/02/2018 (Wednesday)
Ancient grape seeds may link Sri Lankan trading port to Roman world
Published Date: 20/02/2018 (Wednesday)
Mannar mass grave: Skeletal remains of 21 children unearthed
Published Date: 20/02/2018 (Wednesday)
HR should be part of daily life – HRCSL Chair
Published Date: 20/02/2018 (Wednesday)
The new arms race: American businesses vs. China’s government money How we outsourced foreign aid to private companies
Published Date: 20/02/2018 (Tuesday)
PM, ministers not removed; only functions suspended: GL
Published Date: 20/02/2018 (Tuesday)
President to appoint new govt. if P’ment undissolved: SLFP
Published Date: 20/02/2018 (Tuesday)
Sri Lanka needs its own leaders
Published Date: 20/02/2018 (Tuesday)
Former DIG Nalaka de Silva further remanded
Published Date: 20/02/2018 (Tuesday)
Investigate President’s claims on bribing MPs-TISL
Published Date: 20/02/2018 (Tuesday)
Lord Ahmad of Wimbledon has given the interim statement on the human rights situation in 2018 in the FCO’s 30 human rights priority countries.
Published Date: 20/02/2018 (Tuesday)
Sri Lanka President faces fresh challenge over his mental health
Published Date: 20/02/2018 (Monday)
Donate
Support our work to bring rights to life in any way big or small
 Amount:

Donate using PayPal

Select dates to view
past and future events
<<<Dec - 2018>>>
SunMonTueWedThuFriSat
      1
2345678
9
10
1112131415
16
171819202122
23242526272829
3031     
 Stand up for Rights and Justice
Call to Ban Monsanto’s pesticide
Read more...
Take Action
Trump’s child hostages
Set Noura Free -- sign now!
Tamil men accuse continuing torture in Sri Lanka Take a stand against torture and urge UN Human Rights commission for human rights to investigate
Latest Publication
Proto Sumero Dravidian: The Common Origin of Sumerian and Dravidian Languages Conference Report:

Proto Sumero Dravidian: The Common Origin of Sumerian and Dravidian Languages

Read more...

Thiruvalluvar
About us
Site Help
Getting in touch
Other
Facebook Youtube twitter
Sitemap  |  Privacy Policy  |  Terms and Conditions
Copyright © 2018 ticonline.org, All rights reserved.