– President says Addressing Sri Lankan Community in Maldives
President Anura Kumara Dissanayake emphasised that his government will honour the trust placed in them by all Sri Lankan people and fulfil the responsibility of building the prosperous nation they envision.
The President made these remarks yesterday (30) afternoon while addressing the Sri Lankan community residing in the Maldives at the Maldives National University (MNU) Auditorium.
The gathering, organised by the Sri Lankan High Commission in the Maldives, brought together Sri Lankan professionals, students and individuals working in various fields in the country.
The President pointed out that the government has prioritised establishing a new political culture and reviving the economy, which were key aspirations of the mandate received in the last presidential election. He stated that a new political culture has been created in the country, replacing the corrupt political system and that the current government has taken steps to breathe new life into the stagnant economy. The President also mentioned that the rule of law is now actively enforced across the country, applying equally to everyone.
The President urged everyone to “work together to build a better country for future generations, ensuring they do not inherit the hardships faced by the current generation and to create a future full of hope and aspirations.” He also thanked all Sri Lankans residing in the Maldives who dedicated themselves to the victory of the National People’s Power government in the last Presidential and General Elections.
Furthermore, the President answered questions raised by the community concerning the current situation in Sri Lanka and issues faced by the Sri Lankan expatriate in the Maldives.
President Anura Kumara Dissanayake, addressing the Sri Lankan community in the Maldives, further stated:
“During the last presidential election, we met with Sri Lankans abroad. The Maldives has become the first country where I, as President, have addressed the expatriate Sri Lankan community. I believe many of you here wished to see our country become a very developed nation and for its people to achieve a higher standard of living.
It’s not enough for each of us to have individual assessments of our country. To make it a reality, we had to gain political power. In the last presidential and general elections, with the support of all of you, we received the political change and power needed to transform our country for the better. Just as I stated before you then, we will not allow the trust you placed in us to waver even slightly. Why did the people choose us for a new political change?
Back then, our country had one law for the rich and powerful and another for the poor and vulnerable. Therefore, the people desired the re-establishment of the supremacy of the rule of law in the country. Additionally, our country had an ugly political culture where the political authority enjoyed privileged positions, acting above citizens rather than engaging with them. So, the people wanted to end this ugly political culture and build a new, more accessible political culture. There was also a desire to eliminate the rampant fraud, corruption, bribery and waste that permeated our entire state machinery.
Furthermore, due to the highly unsuccessful and flawed economic policies pursued by our state for a long time, our country had become largely economically bankrupt and the people of this country had hoped for an economic revival. The people gave us power hoping for a new transformation in these and many other areas. The people of this country, marking a profoundly significant political leap in world history, elevated us to the highest political position. A political movement that received 3% in the previous election achieved an exceptional victory in the subsequent general election, electing the highest number of MPs in Sri Lankan history to Parliament.
Every one of you contributed to that political transformation. That’s why today I am the President, our Cabinet is formed and a significant power block has been created in Parliament, it is all thanks to the contribution given by the people of our country, including yourselves. This power was not created by wealth, nor by media influence, nor by any inherited power. This power was not created on the basis of our family lineage or background. This entire power was created by the people of the country. Therefore, as President and as the Cabinet, we have an undeniable, inalienable responsibility. We will protect the trust you have placed in us.
I know there’s a lot of noise out there. All of that is an expression of defeat, uncertainty about power and political failure, not reality. The reality is that we are slowly but steadily building our country. We will free our country and its people from the challenges they face.
It was your expectation to see a very strong rule of law implemented in our country. How was the law enforced in our country back then? Power bent the law. The law was trampled upon. Rulers believed they should be above the law. But today, we are happy to say that the supremacy of the rule of law has been established, irrespective of status. We have no personal desire for revenge against anyone. However, we have a sincere desire that citizens must be subject to the law. Power, wealth, or position are not the criteria that determine whether one is subject to the law or not.
Our country needs a new political culture. Everyone must be equal before the law. And everyone is subject to the law. Everyone should fear the law. There was an era in our country when people did not fear the law. We must gradually transform our country into a society where citizens are subject to the law and show some fear of it. People should be afraid to engage in fraud or accept bribes. Yet, amassing great wealth became a tool for being above the law. An era was created where state property and public funds were wasted on a grand scale. We are building a state where everyone is equal before the law. We will make Sri Lanka a country where people are not only afraid to take bribes but even to think about taking one.
You know, the head of the prison has been arrested. Officials from the Department of Motor Traffic and Customs have been arrested. The Inspector General of Police is under arrest. A large number of former police officers have been suspended. A former Navy Commander has also been arrested. All these individuals were above the law and manipulated it as they wished. Today, we are enforcing the law without regard for rank or status. We are doing this to uphold the supremacy of the rule of law, which was a key expectation of the mandate the people gave us.
The fraud and corruption that plagued our country’s political authority must be eradicated. I can give you one guarantee: for the first time, we have established a government that will not steal a single cent of public money. We have completely stopped the bribery, corruption and waste that enveloped the political authority. However, there’s a state mechanism that runs on habit. I know there are people who don’t pay taxes to the Inland Revenue Department. We have a list of those who portray themselves as very wealthy, luxurious businessmen but have defaulted on payments to state banks.
There was a tendency to commit fraud and corruption, evading taxes owed to the government. The banking system, which was eager to auction off the properties of good individuals, provided protection to those with political patronage. Therefore, the people of our country had a desire to stop fraud and corruption. This has now been achieved within the political authority and we will do the rest.
Furthermore, the people of this country wanted to see those who committed fraud and corruption punished. Punishing the corrupt is not, personally speaking, the President’s task. Laws are needed to punish the corrupt. We have a very strong law, the Public Property Act. If public funds exceeding Rs. 25,000 are misappropriated, there is no bail.
Under the Prevention of Money Laundering Act, if one cannot show how wealth was acquired, that wealth can be confiscated. Additionally, a law for the confiscation of illegally acquired property was passed in Parliament on April 8th.
Therefore, the necessary laws to combat bribery and corruption have been enacted. We also need to activate the institutions for this purpose. The Commission to Investigate Allegations of Bribery or Corruption has been provided with the necessary legislation. The necessary institutions have been established and buildings have been provided for them to operate their offices. We are also planning to place the officials of the Bribery or Corruption Commission on a higher salary scale very soon. In this way, we are providing the necessary facilities. We have made the necessary changes and provided facilities to the Criminal Investigation Department and the Attorney General’s Department.
Changing this ugly political culture in our country was a major goal of the people. Today, we are changing that culture. As President, I have a responsibility. Similarly, as the Cabinet, as state officials, as ambassadors, everyone has a responsibility. We are obliged to fulfil these responsibilities. In the past, the political authority was above all this. And sometimes, the people of our country even expected such a thing. But today, we are all striving to fulfil the responsibilities entrusted to us. Therefore, instead of the political culture that existed in our country, where politicians were above the public, we have taken steps towards a new political culture that integrates
the political authority, the state machinery and the public, shoulder to shoulder, for this transformation.
Another primary expectation of the people was to strengthen the country’s economy. If the economy is not strong, it’s difficult to establish the rule of law, a good culture, or a state with reduced crime. Therefore, our biggest challenge was to create a strong economy. We were a bankrupt country two or three years ago. Even a hundred years from now, if the economic history of Sri Lanka is written, 2022-2023 will have a separate chapter dedicated to it. It is something that can never be erased from the country’s economic history.
With our country becoming bankrupt, trust in the financial system began to collapse. As a result of bankruptcy, investments stopped coming into Sri Lanka. All ongoing projects came to a halt. Inflation reached nearly 70%. Trust in the dollar completely began to crumble. Bank interest rates increased dramatically. A situation was created where no one would start a new business. It became impossible to import medicines, gas and fuel. As a country and a society, we faced the consequences of the economic policies pursued for a long time. The victims of this economic problem were by no means those who were involved in those decisions.
We didn’t inherit a country that was running well. We inherited a country that was grinding to a halt. Our initial step was to figure out how to revive this stagnant state. When we took over the government, debt restructuring discussions had already begun. We concluded the debt restructuring programme on December 21st last year. This is the biggest turning point in this economic transformation.
Since 2022, we had become a country that did not repay its debts. However, on December 21st, 2024, we reached an agreement with the lending countries that we would start repaying debts from 2028. Now we are officially free from bankruptcy. Accordingly, agreements have been made to gradually restart stalled projects. Especially, all development projects provided to our country by China, India and Japan will largely recommence before the end of this year. This is the first step in a country that had come to a standstill.
We also need dollars. We are very happy to say that there are three main factors contributing to us receiving dollars. The first group is you, the expatriate Sri Lankans. We would like to say that this year will be the year with the highest dollar remittances from overseas Sri Lankans. The second source of dollars for the country is tourism. This year will be the year with the highest number of tourist arrivals and the highest dollar earnings from tourism in Sri Lankan history.
The third source is export revenue. Regarding export revenue, 2025 will be the year with the highest export earnings in Sri Lanka. In this way, a very strong stability has been created in the economy. As a result, we have managed to maintain the dollar’s value around the 300 rupee mark for nearly a year now.
For five years, vehicle imports in our country were stopped. We have opened up the vehicle market. As of yesterday, we have opened LCs worth USD 1200 million for vehicle imports. However, the dollar remains stable. This reflects a very important characteristic of the economy.
Foreign direct investment is also a very important part of the economy. This year, so far, USD 563 million in foreign direct investment has come through the Board of Investment of Sri Lanka. This is a 101% increase compared to last year. Especially in Port City, we have approved four new projects. In addition to foreign direct investment, a large amount of investment has also been received by the Port City.
Similarly, bank interest rates are also a crucial factor. Bank interest rates had risen to 30%-35%. This was a very bad situation. No one would take a loan at such an interest rate to run a business. Therefore, money flowed into fixed deposits, or was invested in treasury bills and bonds. Banks began lending to the government.
For a long time, the government’s account in our country was in the negative. Not only have our country’s dollar reserves improved, but the Central Bank is now maintaining a reserve of Rs. 01 trillion. Bank interest rates have been kept at single digits for the longest period. This is a very important factor for the economy.
Foreign reserves currently stand at USD 6.3 billion and we expect to accumulate foreign reserves exceeding USD 7 billion by the end of this year. We have to repay debts by 2028. In the debt restructuring programme, a large burden does not fall in the initial years. The amount increases slightly in 2032. Therefore, we have a good six years to prepare well.
According to the commitment between us and the International Monetary Fund, we can obtain commercial loans in 2028. However, our utmost effort is to strengthen dollar reserves without taking commercial loans. Why were we plunged into this crisis? Commercial loans. For the first time in Sri Lanka, we went to the market and obtained commercial loans in 2007. The administration from 2007-2015 obtained USD 3.5 billion in commercial loans. These loans, taken at high interest rates, trapped us in a debt trap. During the period of 2015-2019, when economic experts governed, we obtained USD 12.5 billion in commercial loans. We could not repay these short-term, high-interest loans.
Even though we will have the ability to obtain loans in 2027, our maximum effort is to achieve debt repayment capability without taking any commercial loans. Therefore, even though people say a debt crisis is coming or the country will collapse in 2028, none of that will happen.
In Sri Lanka, typically, a government’s revenue is estimated in the budget. Except for last year, in every preceding year, the estimated revenue was not received. However, this year, for the first time in Sri Lanka, the government is earning more than the estimated revenue. In this way, we have achieved economic victories.
However, we face the challenge of how to extend these high-level economic achievements to the ordinary people. It’s pointless showing economic growth in data if the lives of the people are not improving. But, without creating stability in high economic data, we cannot even consider uplifting the lives of the common people. Therefore, as a first step, we have stabilised the country’s economy. Investors are now coming to the country. We are creating the necessary environment for these investors within the country. Now, we need to ensure that the benefits flow to the people of the country. We will focus on this in the next budget.
A good state mechanism must operate within the country. Our entire state mechanism was in ruins. Vehicles and equipment were old, buildings were dilapidated. To move our country forward from these ruins, a modernised government, suitable for the present, is needed. Therefore, in the upcoming budget, we will place a greater emphasis on modernising the government.
We are very successfully completing digitisation. The digital identity card is a very important step in our country’s digitisation. Furthermore, with digitisation, governance will be elevated to a very important level. We will carry out this digital transformation within these four years to elevate the country to a new level.
Education is a very important area for improving the lives of rural people. Therefore, we expect a major modernisation of the school system. Our education system is flawed. Our education is on a single linear path. Education should be open to a wide range of possibilities. We will not allow any child who enters school to leave without a vocational or academic skill. Therefore, we are making a major shift in education for societal change.
Also, to uplift rural livelihoods, the economic sectors they are engaged in must be developed. Here, agriculture and fisheries must become profitable businesses. The old era of agriculture is over. Today’s supply chain is not seasonal but continuous. Accordingly, we must move to new cultivation plans. We have prepared plans for this. Our products must go out of the country.
We also need to create new economic opportunities. The facilities that the government should provide must be provided quickly. In particular, we need a strong public transport service. The cost incurred by citizens for their transport facilities in our country is very high. Therefore, we have prepared plans to develop public transport.
The energy sector is also a crucial area. For a long time, the Kelanitissa and Kerawalapitiya power plant systems have been running on naphtha and furnace oil. We will very quickly convert them to LNG. This will enable us to reduce energy costs.
There are also several sectors like education, health and agriculture. If we consider the health sector, it’s true that there are medicine shortages in some places. But that’s not a money problem. There’s a crisis in our procurement system. Recently, I summoned everyone in the supply sector. Typically, we have about 6000 tenders. The problem is not simple. Therefore, we will very quickly discuss with the Procurement Commission and move towards a new procurement process for medicine purchases. In this budget, we have allocated sufficient funds for medicines and equipment. However, a large number of tenders for next year have already been called and concluded.
We also plan to establish 200 primary healthcare centres this year. A community health centre will be established for every Grama Seva division so that every family has a doctor. Annually, 60 million people receive treatment from the outpatient departments of hospitals. The population is 20 million. That means each person has visited three or four times. We need a strong community health service.
We consider developing health, education and transport as the foremost tasks of our government. Only then can the lives of the people be uplifted. If the government bears the cost of these, citizens will have more income left. That’s how living standards should be improved. Because this government is working with a very good plan, we believe we can elevate our country from its current position to a much higher one.
In this journey, expatriate Sri Lankans play a significant role. We are very grateful for your work in gaining power and protecting it. We also understand the problems you face. Especially, we are paying attention to the difficulties in repatriating bodies if someone unexpectedly passes away in the Maldives. It is the responsibility of our government to care for every Sri Lankan citizen, no matter where they live in the world. Therefore, we are focusing on the problems you face. The Maldivian President has agreed to provide us with 90-day visas.
Let’s work together with the hope of creating a better country than the one we were born into, a country where our children don’t suffer the hardships we did and a future generation with more hopes and aspirations than us. This is the government for that. We ask about what we don’t know. We are ordinary people, not distorted individuals with seven brains. Our specialty is that we absorb capabilities. We give opportunities to those who know. We have no competition. That’s why people from various fields are voluntarily working in our government today. We have given them the necessary freedom. Building this country is the task of everyone with these capabilities. We are undertaking this journey by unifying all these individuals. Thank you once again for your contribution to this endeavour.
