29 C
Friday, June 21, 2024

Petition filed again against Domestic Debt Restructuring

- Advertisement -

A petition invoking fundamental rights (FR) has been submitted to the Supreme Court, contesting the government’s Domestic Debt Restructuring (DDS) initiative.

The petition has been presented by MP Prof. G.L. Peiris and the General Secretary of the Samagi Jana Balawegaya, MP Ranjith Madduma Bandara.

In this petition, the respondents named include the Central Bank of Sri Lanka (CBSL), its governor Dr. Nandalal Weerasinghe, and its Monetary Board, as well as the Secretary of the Finance Ministry, the Attorney General, and several others.

The petitioners are raising concerns about the decision to lower the interest rates offered when investing the assets of the Employees’ Provident Fund (EPF) in government securities under the DDO program.

The petitioners have pointed out that the EPF holds active accounts for a minimum of 2.5 million working individuals, and a significant portion of their funds is invested in treasury bills and bonds. They argue that reducing the interest rate to 9% is a violation of the fundamental rights of the people.

Furthermore, the Monetary Board of the CBSL did not seek the opinions of EPF members before permitting the Fund to participate in the DDS program.


Chinese traveler from Colombo found infected with COVID-19 on arrival at Shanghai

A Chinese national who arrived from Sri Lanka has been infected with COVID-19, Shanghai (China) Health Commission said on Thursday morning.  According to Chinese media,...

Another 160 Omicron cases detected in Sri Lanka

Another 160 cases of Omicron COVID variant have been recorded in Sri Lanka, Dr. Chandima Jeewandara from University of Sri Jayewardenepura said. According to Dr....

PM visits Tirupati

Prime Minister Mahinda Rajapaksa has left for India on a 2-day pilgrimage to the temple city of Tirupati today (23). He was accorded a warm...


Breaking: Nathasha Edirisooriya Released from ICCPR Case

The cases filed against Nathsha Edirisooriya and Bruno Diwakara under the draconian ICCPR Act were dropped by the Colombo Fort Magistrate's Court a short...

Thailand Passes Landmark Bill Recognising Marriage Equality

Thailand’s Senate passed the final reading of a marriage equality law on Tuesday, paving the way for the country to become the third territory...

Dr. Jaishankar Arrives in Sri Lanka to Boost Bilateral Ties

Indian External Affairs Minister Dr. S. Jaishankar arrived in Sri Lanka a short while ago on an official visit. He was welcomed at Bandaranaike...