Opposition Leader Sajith Premadasa has decided to appoint a special committee to closely monitor escalating international tensions and assess their potential impact on Sri Lanka’s fragile economy.
Premadasa convened a meeting with Opposition Parliamentarians yesterday (3), where discussions centred on the possible economic fallout from the intensifying conflict involving Israel, the United States and Iran, as well as the unresolved issue of substandard coal imports.
Speaking to The Daily Morning, a media official representing the Opposition said the primary focus of the meeting was to evaluate the adverse effects the geopolitical crisis in the Middle East could have on Sri Lanka, particularly in the context of fuel prices, supply chains and overall economic stability.
“Premadasa proposed the appointment of a committee comprising experts from relevant fields to closely observe the evolving geopolitical tensions,” the official said. “The aim is to examine ways to cushion the impact on Sri Lanka and also explore how assistance could be extended to people in countries currently facing attacks.”
The move comes amid heightened tensions in the Middle East following recent strikes against Iran, developments that have triggered concern among Sri Lankan policymakers about possible ripple effects on the local economy. Sri Lanka, still recovering from its worst economic crisis in 2022, remains vulnerable to external shocks, particularly fluctuations in global oil prices and disruptions to international trade routes.
In addition to the geopolitical crisis, the meeting also addressed the ongoing controversy surrounding the importation of substandard coal for power generation. The issue relates to a shipment of allegedly low-quality coal supplied to the country’s coal power plant, which has reportedly resulted in operational inefficiencies and increased costs.
The Opposition has previously raised concerns that the use of inferior coal has contributed to higher electricity generation expenses, potentially placing additional pressure on tariffs. Questions have also been raised about transparency and procurement procedures related to the import.
With global instability threatening to aggravate Sri Lanka’s already delicate economic recovery, the Opposition’s proposed committee is expected to analyse developments closely and make recommendations aimed at mitigating risks to the public and the broader economy.