Shehan Semasinghe: Latest News

COLOMBO (News 1st); State Minister Shehan Semasinghe raising a privilege issue in parliament on Friday (10) noted that it is a serious offense to proceed with the Interim Order given by the Supreme Court on 3rd March, when the matter is already produced to the Committee on Parliamentary Ethics and Privileges.He requested the Deputy Speaker to advise relevant authorities not to proceed further or take any action on the interim order with regard to the Local Government election until the Committee on Parliamentary Ethics and Privileges concludes its hearing on the privilege issue raised by MP Premanath C Dollewatte.MP Premnath C. Dolawatte told Parliament on 7th of March that the powers and privileges of Parliament have been violated by the Interim Order issued by several judges of the Supreme Court on March 3rd, 2023.On March 3rd, the Supreme Court, considering Samagi Jana Balawegaya (SJB) General Secretary Ranjith Madduma Bandara’s petition, issued an Interim Order to the Finance Ministry Secretary and the Attorney General preventing them from withholding the funds allocated for elections in Budget 2023.Dolawatte claimed the said Interim Order can be viewed “as clear breach of privileges and powers of Parliament.”MPs from the opposition led by Opposition Leader Sajith Premadasa on Friday (10) met with the Deputy Speaker to discuss the privilege issues raised by State Minister Shehan Semasinghe, and MP Premnath C.

COLOMBO (News 1st) – Sri Lanka's Finance Ministry said that a circular on slashing 5% of the budgeted funds of the ministries will be issued soon.A Senior Officer at the Finance Ministry said the circular will be directed to the Ministry Secretaries in due course.President Ranil Wickremesinghe had informed the cabinet that the fund allocations made via the budget for all ministries will have to be cut down by 5%.This was announced by Minister Bandula Gunawardena, the Cabinet Spokesperson on Tuesday (10) at the weekly Cabinet media briefing."There is no stable income to even support the essential welfare expenses.

COLOMBO (News 1st) – President Ranil Wickremesinghe has informed the cabinet that the fund allocations made via the budget for all ministries will have to be cut down by 5%.This was announced by Minister Bandula Gunawardena, the Cabinet Spokesperson on Tuesday (10) at the weekly Cabinet media briefing."There is no stable income to even support the essential welfare expenses.

COLOMBO (News 1st) – State Minister of Finance Shehan Semasinghe said Sri Lanka's second round of discussions with creditors concluded successfully.He added that legal advisers, financial advisers and major creditors including China, India and Japan joined the discussions.Several reforms were made since March, in order to obtain IMF assistance, and restructure the country's debt.The State Minister added that Sri Lanka has agreed to deal with all creditors in a transparent manner.The Central Bank of Sri Lanka and the Ministry of Finance have communicated that they will work with the creditors to provide them with the necessary information and clarifications.The State Finance Minister said that the IMF Board of Directors will grant its approval, as soon as Sri Lanka obtains assurance from its creditors, and these discussions are vital for the process.Sri Lanka expects to receive assistance from the IMF by the end of 2022.

COLOMBO (News 1st) – Sri Lankan authorities held a virtual meeting with Sri Lanka’s official creditors on Thursday (3). The meeting was chaired by the Secretary to the Treasury and the Ministry of Finance, K M Mahinda Siriwardana, and the Governor of the Central Bank of Sri Lanka, Dr. P.

COLOMBO (News 1st) – The State Minisrer of Finance Shehan Semasinghe says that he hopes to reach an agreement with regard to the financial assurance by creditors, which is expected by the International Monetary Fund during the negotiations that will begin on 3rd November.The State Minister said that although Sri Lanka's bilateral creditors such as China, India and Japan have verbally agreed to assist the country in debt restructuring, however, the IMF needs proper financial assurance in time for the negotiations.The Minister said that they are attemtpting to obtain the approval of the IMF board as soon as possible. The minister made these comments during an inquiry made by Newsfirst regarding the second phase of the official-level negotiations to be initiated with the International Monetary Fund.The minister stated that no moves will be made to bypass the Parliament in dealing with the International Monetary Fund.Minister Semasinghe added that no parties other than the Ministry of Finance and the Central Bank of Sri Lanka have been informed with regard to the staff level agreement with the IMF.

COLOMBO (News 1st) –  The Paris Club has assured its fullest support to Sri Lanka in its ongoing efforts to find an early resolution to its debt crisis.Paris Club is a group of officials from major creditor countries whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor countries.State Minister Shehan Semasinghe said that he meet with William Roos, Co-Chairman of the Paris Club during the IMF/World Bank Annual Meetings."Mr. Roos assured The Paris Club’s fullest support for Sri Lanka’s ongoing efforts to find an early resolution to its debt crisis," he tweeted.What Is the Paris Club?The Paris Club is an informal group of creditor nations whose objective is to find workable solutions to payment problems faced by debtor nations.

COLOMBO (News 1st) –  The Paris Club has assured its fullest support to Sri Lanka in its ongoing efforts to find an early resolution to its debt crisis.Paris Club is a group of officials from major creditor countries whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor countries.State Minister Shehan Semasinghe said that he meet with William Roos, Co-Chairman of the Paris Club during the IMF/World Bank Annual Meetings."Mr. Roos assured The Paris Club’s fullest support for Sri Lanka’s ongoing efforts to find an early resolution to its debt crisis," he tweeted.What Is the Paris Club?The Paris Club is an informal group of creditor nations whose objective is to find workable solutions to payment problems faced by debtor nations.

COLOMBO (News 1st) – The 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) will take place today (10) and will go on to October 16 at the IMF and World Bank Group headquarters, in Washington DC.Sri Lanka decided to send eight representatives for the annual summit of the IMF and the World Bank.Sri Lanka's delegation will be led by State Finance Minister Shehan Semasinghe.Also, the Governor of the Central Bank of Sri Lanka, the Finance Secretary, and several others will accompany to the State Minister.

COLOMBO (News 1st) – Sri Lanka has decided to send a delegation for the annual summit of the International Monetary Fund and the World Bank.The 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) will take place in person from Monday, October 10, through Sunday, October 16 in the IMF and World Bank Group headquarters, in Washington DC.Sri Lanka's delegation will be led by Acting Finance Minister Shehan Semasinghe.He said the Governor of the Central Bank of Sri Lanka, the Finance Secretary and several others will accompany him.The Acting Finance Minister said that the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) will be of paramount importance for Sri Lanka to restrucutre its debt, and also obtain financial assistance from the IMF.

COLOMBO (News 1st) – During President Wickremesinghe’s official overseas tour, the state ministers of the ministries under the purview of the President, will be appointed as acting ministers to oversee their operations.Accordingly, State Minister Premitha Bandara has been appointed as the Acting Defence Minister, State Minister Shehan Semasinghe as the Acting Minister of Finance, Economic Stabilization & National Policies, State Minister Dilum Amunugama as the Acting Minister of Investment Promotion, State Minister Kanaka Herath as the Acting Minister of Technology and State Minister Anupa Pasqual has been appointed as the Acting Minister of Women, Child Affairs, and Social Empowerment.

COLOMBO (News 1st); Sri Lankan Finance Minister Basil Rajapaksa’s Indian visit has been postponed again.Basil Rajapaksa was to fly to India to wrap up credit lines worth a billion US dollars, that would be used for essential goods and medicines.“We are ready to enter into several agreements with India for financial facilities worth a billion US dollars,” State Minister Shehan Semasinghe told the Parliament.Sri Lankan Sports Minister Namal Rajapaksa said personally he has no issue with discussing matters on approaching the International Monetary Fund and other agencies.However, he said the decision on such a matter should be taken by the Finance Minister and the Central Bank.

COLOMBO (News 1st): It is important to introduce ethics for social media usage, Shehan Semasinghe, the State Minister of Samurdhi, Household Economy, Micro Finance, Self Employment, and Business Development said. He pointed out that social media is being used to circulate misinformation.“Certain people have taken the lead in tarnishing Sri Lanka’s reputation with regard to Human Rights, every time the Geneva Human Rights Council session is there. This is because they cannot stand the revival of a collapsed economy,” State Minister Semasinghe emphasized.Thereby, he highlighted the need to introduce social media ethics, since the use of social media for personal gains may negatively impact the country on the diplomatic front.He shared these remarks at an event held in Anuradhapura.