UNP says the government will be forced to call a snap election

Opposition and United National Party (UNP) leader Ranil Wickramasinghe told journalists in Colombo that the government has planned the controversial deals in 2005, long before the fuel prices increased.

UNP leaders says that Sri Lanka currently has a debt of Rs. 200,000 million as a result of hedging deals signed by the Ceylon Petroleum Corporation (CPC) and debts to Iran, Asian Development Bank, India and other debts.

Every citizen in Sri Lanka, Mr. Wickramasinghe said, is indebted Rs. 10,000 each as a result.

Early election

Sri Lanka Supreme Court last week suspended the chairman of the CPC, Asantha de Mel, and advised President Mahinda Rajapaksa to replace minister in charge of petroleum resources, AHM Fowzie.

	UNP says hedging deals signed by Mr. de Mel were planned early as 2005

Accusing Mr. de Mel of 'gambling with public funds,' CJ Sarath Silva added that Sri Lanka has lost 700 million USD as a result of the deals.

The government was ordered to immediately stop further payments according to the agreement and the court ordered Central Bank to launch a full investigation into the deals.

The opposition leader says minister Fowzie should not be made solely responsible and the Cabinet of ministers and the Central Bank was also aware of the hedging deals signed by Mr. de Mel.

He added that the government is forced to call a snap election as the economy is on the verge of collapse as a result of the hedging deal.

The UNP, he said, will not honour agreements to pay ‘illegal loans’ back when come in to power.