Law & Order
Dilshan Tharaka
Tags:
Print Edition
An Interim Order issued preventing former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa from leaving the country without Court’s permission was yesterday extended until September 5 by the Supreme Court.
The pledge was made by former Finance Ministry Secretary S. R. Artigala and former Central Bank Governor Prof.W. D. Lakshman stating that they will not go abroad to the Supreme Court through their counsels was also extended to be effective till that date.
These directives were given when the Fundamental Rights petitions filed seeking an order to conduct an investigation against the people responsible for bankrupting the country and the public were taken up before the Supreme Court yesterday.
The petitions were taken up before the Supreme Court Five-Judge-Bench comprising Chief Justice Jayantha Jayasuriya, Justices Buwaneka Aluwihare, Priyantha Jayawardena, Vijith Malalgoda and L.T.B Dehideniya.
President’s Counsel Upul Jayasuriya appearing for the petitioners pointed out that the Rs. 681 billion tax reliefs which was granted to businessmen after Gotabaya Rajapaksa came to power was the main factor in creating the current economic crisis.
He pointed out that it is a reckless act to grant tax concessions even though the International Monetary Fund (IMF) has warned that an economic crisis may occur in the country.
The President’s Counsel further said that Former Central Bank Governor Ajith Nivard Cabral, who was aware that the country was becoming bankrupt and misled the public by hiding the real circumstances and saying that everything was under control.
He said that the two former Finance Ministers as well as the Central Bank Governors to be responsible for this economic crisis.
He said that although the Cabinet Ministers should be informed about the decisions taken by the Central Bank Finance Board, such notification has not been done regarding certain decisions taken.
Pointing out that, two years ago it was decided to pay 4.1 billion US dollars as foreign debt, while the US dollar was maintained at Rs. 200 by the authorities. Therefore, foreign reserves were greatly damaged due to such a decision, he said.
He further said that although W.D. Lakshman who was the Central Bank Government at that time had stated in last January that we do not have sufficient reserves to pay off foreign debt, Ajith Nivard Cabraal, who was then the Finance Minister, stated that it was not a true statement and that there was no such problem.
He said that due to their irresponsible actions, the country has now become bankrupt and the people have to suffer the negative consequences.
He highlighted that the Finance Board of the Central Bank is responsible for the foreign assets and reserves of a country and the Finance Minister and the Secretary of the Ministry are responsible for the relations with the foreign countries.
He mentioned that it was a wrong decision of the respondents to allow the rupee to depreciate.
He emphasized that as the fundamental rights of the petitioners have been violated due to such decisions, the petitioners have the right to get the relief they are seeking.
He alleged that the country became bankrupt due to the arbitrary decisions of the respondents such as misuse of money, as well as not going to the rescheduling of foreign debt, not going to the International Monetary Fund (IMF).
The petitions will be taken up again on August 31.
The petitions were filed by Professor Mahim Mendis, former Chamber of Commerce Chairman Chandra Jayaratne, swimming champion Julian Bolling, Jehan Canegaratne and Transparency International Sri Lanka.
The Petitions have cited the Attorney General on behalf of the President, former Minister of Finance and former Prime Minister Mahinda Rajapaksa, former Minister of Finance and Prime Minister Ranil Wickremesinghe, former Governors of the Central Bank Ajith Nivard Cabraal, Dr. W.D Lakshman, former Finance Ministers Basil Rajapaksa, Ali Sabry, former Finance Ministry Secretary S.R. Artigala,Bar Association of Ceylon President Saliya Peiris, PC and 39 others as the respondents.
The petitioners allege that the country is currently in a state of bankruptcy and the people are in dire straits due to the unwise economic policies and inefficient administration pursued by the respondents.
The petitions allege that this has made it difficult for the people to access essential services such as fuel, electricity, food and medicine.
The petitions state that due to this situation, Sri Lanka has been listed as a country that cannot repay foreign loans and this has brought more disrepute to the country internationally.
The petitions point out that the tax concessions granted unnecessarily by the respondents in 2019 were one of the reasons for this economic crisis.
The petitioners also allege that the failure to seek the assistance of the International Monetary Fund (IMF) at the right time during the economic crisis has led to such a crisis in the country.
The petitions have sought a declaration that the respondents have violated the fundamental human rights of the public. Also, the petitioners request the Supreme Court to issue an order to conduct an immediate investigation into the matters pointed out in this petition.
The petitions also sought an order directing the several respondents to appoint a committee under the supervision of the court to compile a report on the financial irregularities and mismanagement of the economy in relation to the specific cases outlined in the petition.
Also, the petitions have requested that the cabinet decisions taken regarding the financial matters, the documents exchanged between the respondents be submitted to the court.
Thursday, August 11, 2022 – 01:00
