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Last Updated : 2024-05-11 19:20:00
20 July 2023 07:47 am - 13 - {{hitsCtrl.values.hits}}
A Memorandum of Understanding (MoU) is expected to be exchanged with the Indian authorities on the use of Indian Rupee instead of US dollar for international transactions between the two countries during the visit of President Ranil Wickremesinghe to New Delhi tomorrow, Daily Mirror learns.
The president will undertake his first official visit to India tomorrow for bilateral discussions with Indian Prime Minister Narendra Modi. Earlier, the Sri Lankan Central Bank announced that it was awaiting the approval of the Reserve Bank of India to designate Indian Rupee as an international currency.
Transactions with Indian Rupee - RuPay Card and RuPay mechanism – are promoted by India. Besides, two more MoUs will be exchanged during the visit for bilateral cooperation in the renewable energy sector and the development of Trincomalee as a petroleum hub. India has already initiated steps for the development of the Trincomalee oil tank farm and investments in the renewable energy sector.
Also, Daily Mirror learns that the president will brief the Indian leaders about his initiatives for the meaningful implementation of the 13th Amendment without devolving police powers to the provincial councils. The rights of the Tamils in the north and the east are a matter of concern for India which has been persistent with the request for the strengthening of the provincial council system established in terms of the 13th Amendment to the Constitution.
Ahead of the Indian visit, he briefed the MPs representing the constituencies in the north and the east about steps he will take to address their concerns. He said the government would give effect to the powers of the Provincial Council in respect of Education. The president said parliamentary legislations will be enacted empowering the provincial councils to establish universities, vocational training institutions and to undertake agriculture sector modernization. A Bill to establish District Development Councils adhering to the 13th Amendment will also be introduced. Also, action will be taken to re-gazette the Anti-Terrorism Bill considering proposals by the European Union.
As part of the reconciliation process, the Interim Secretariat for Truth Seeking Mechanism has been established and a Director General has been appointed. An informed source said the president will apprise the Indian leaders of these steps during bilateral discussions. (Kelum Bandara)
A nation of imbecils Thursday, 20 July 2023 08:39 AM
The gradual colonization of Sri Lanka by India, and our politicians and their henchman will be lighting firecrackers to celebrate.
BuffaloaCitizen Thursday, 20 July 2023 10:54 AM
Isn't that a better to when you idiots light crackers when Mahinda or his family members appear in public? When Mihin Lanka, Mattala Airport, H'Tota Port, Lotus Tower were inaugurated to bankrupt this nation? When Daisy Archie started discovering gems inside her garden?
Ravi Thursday, 20 July 2023 08:41 AM
Shocking and unbelievable ! No small country the size of Sri Lanka would ever dream of dropping the standard US dollars and go for the currency of a much bigger neighbour. The consequence is the smaller country would inevitably become weaker and end up as a colony. While we all are watching the cricket, this unelected fellow with funny accent is selling Sri Lanka to the Indians .
Ranil the enemy within Thursday, 20 July 2023 08:43 AM
The president has sold off most of the country now he is selling off the people as well. Soon we can change the name of our country to Slave Island. This is a vile president exacting his revenge on the people of the nation.
Sokrates Thursday, 20 July 2023 09:04 AM
Neither the Indian rupee nor the Chinese renminbi and many other currencies are not freely convertible currencies. Although agreements can be made between two countries, such as here between India and Sri Lanka, to recognize the respective currencies for trade between these countries, but they are useless for world trade.
joshua Thursday, 20 July 2023 09:12 AM
Hope this man knows what he is doing? Decisions taken by politicians have always led to calamity.
NIghtOwl Thursday, 20 July 2023 10:26 AM
This is a good proposal, this would open up the Indian market to Sri Lankan exporters giving much-needed currency stability. It is of India's interest also to keep Rupee steady in order to promote its currency for international trade. If this could lead to the opening up of India's fintech solutions in Sri Lanka, the number of tourists and their spending we can expect from India would be much higher and imports from
Roger Thursday, 20 July 2023 11:22 AM
You all bloody web experts, you'll don't remember who helped Sri Lanka even more than the IMF when Sri Lanka was battling close to 75 percent inflation in September 2022. And you'll are the very ones who did the Aragalaya. Not us. Not even the US stepped in. Now your talking of selling the country to India
Damned Thursday, 20 July 2023 12:56 PM
Ranil is always a traitor. He was never elected by people. Curse on aragalayaites who brought this man to power.India is never a friend they sent credit lines with these cunning plans in mind.
Amit Ray Thursday, 20 July 2023 09:19 PM
Sri Lanka is in dire straits due to crooked people like you, first you allowed the Chinese to destroy your economy and now cursing India, who stood by you at your critical time ,supplied you medicines, food and fuel including covid 19 vaccines. Rupay had been launched in France, UAE, nobody said anything. But you people because of your jealousy towards India is crying foul, what a shame.
Mike Jeya Thursday, 20 July 2023 02:06 PM
for info of all the so called experts commenting above. see below news item In the latest development in Asia's push for de-dollarisation, India and the United Arab Emirates have agreed to ditch the dollar in favour of settling their bilateral trade in rupees. The move is part of India's efforts to cut transaction costs by eliminating dollar conversions.
Tissa Fernando Thursday, 20 July 2023 05:18 PM
Roger, we remember the kind of help received, oil at 145 USD a barrel when Russia was offering it at 60 a Barrel, low quality expired drugs that is killing people , ultra inefficient lorry busses, highly expensive but low quality trains that derail all the time, stealing the retail oil sector in this process, promoting separatism in the North by training the terrorist outfit in the past and still talking in their favour, you want more?
S Paul Friday, 21 July 2023 02:37 AM
Yes really good should become next state of India. It is becoming a reality as this is a nation of beggers. Then tamils can live without fear.
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