President’s visit to India Sri Lanka to ditch US Dollar for Indian Rupee in landmark MoU with India

• Two more MoUs on electricity, Trincomalee development  
• 13 A to be implemented in full with powers to provincial councils to set up even universities
• No police power to be devolved  

 By Kelum Bandara  

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.