President’s Powers May Be Reduced- Say’s Sri Lanka’s PM

President’s Powers May Be Reduced- Say’s Sri Lanka’s PM

On Tuesday, Sri Lanka’s PM stated that the constitution will be changed to affix presidential powers and warrant Parliament as protesters continued to call on the president and his powerful family to discontinue over the country’s economic crisis.

Prime Minister Mahinda Rajapaksa mentioned to the Parliament that the power transfer will be one of the swift and rapid steps that can be taken to politically ballast the country and help talks with the International Monetary Fund for an economic recovery plan.

While deeming for solutions to the economic problems, it is crucial that we have political and social stability in the country,”. Rajapaksa also said that to regress a constitutional status with more powers to Parliament will be the ignition point to the reforms.

President Gotabaya Rajapaksa, who is the prime minister’s brother, thickened more powers in the presidency on being elected to the office in 2019.

Thousands of protesters were employing the entrance to the president’s office for a 11th day Tuesday, holding him accountable for the economic crisis.

President Rajapaksa divulged that he made mistakes like delaying going to the IMF for help and banning agrochemicals with the aim of converting Sri Lanka’s agriculture to fully organic, leading to the crisis.

Similarly, both the president and prime minister have refused to step down, stemming in a political impasse.

Opposition parties have rejected the president’s offer to join a unity government, but they are unable to hold a majority in Parliament and form a new government.

In a Cabinet reshuffle Monday, the president employed many new faces and left out four family members who held Cabinet and non-Cabinet ministries in what seemed an attempt to please the protesters without giving up his family’s grip on power.

The Rajapaksa brothers are likely to retain their same grip on power even if the constitution is amended, since they hold both offices.

Sri Lanka is on the brink of bankruptcy, with nearly $7 billion of its total $25 billion in foreign debt due for repayment this year. A severe shortage of foreign exchange means the country lacks money to buy imported goods.

Last week, the government said it was suspending repayment of foreign loans pending talks with the IMF. Finance Minister Ali Sabry and officials left for talks with the IMF on Sunday.

Leave a Reply

Your email address will not be published.

Glycerin Market Previous post Glycerin Market Industry Growth Analysis on Latest Trends and Forecast by 2030
Health Products Market Next post Health Products Market 2022 Growth Opportunities, Top Players, Regions, Application, and Forecast to 2028