A week of high stakes and power struggles

By Our Political Editor

Sri Lanka’s political landscape saw yet another week of high drama, strategic maneuvering, and intensifying battles between the government and opposition forces. From corruption allegations against the Rajapaksa family to speculation over key financial officials and a brewing political realignment, the country’s political stage remained as volatile as ever.

The week’s biggest headline was the arrest of Yoshitha Rajapaksa, son of former President Mahinda Rajapaksa, on Friday. Government supporters initially saw this as a serious step toward accountability, hoping it would mark a decisive break from the culture of impunity surrounding corruption cases. However, their optimism was short-lived as Yoshitha was granted bail by Monday, reinforcing skepticism about whether such high-profile arrests ever translate into real consequences. The situation worsened for the government when a leaked image of a smiling Yoshitha inside police custody went viral, fueling criticism that the entire episode was nothing more than political theatrics. For Rajapaksa loyalists, the ordeal served as a rallying point, with Namal Rajapaksa leading the charge in pushing back against the government’s anti-corruption narrative.

Namal himself is now in the spotlight, facing allegations over the controversial Krish deal and broader corruption charges. Government insiders suggest that an intensified legal and political assault on Namal is imminent, setting the stage for another chapter in the ongoing battle between the AKD administration and the Rajapaksa dynasty. The ruling coalition seems intent on making an example out of the family, using legal action to keep them on the defensive.

Meanwhile, President AKD took a momentary break from political battles to inaugurate the Sri Lanka Economic Summit, where he made one of his most direct statements on economic policy to date. In a notable departure from traditional JVP rhetoric, he openly echoed the public sector as a burden on the economy and emphasised the need for private sector-led growth. He also hinted at tough decisions ahead regarding loss-making state-owned enterprises, including potential listings on the Colombo Stock Exchange. While these statements signaled a pragmatic approach to governance, they also exposed the president to criticism. His opponents were quick to point out the irony—historically, the JVP has fiercely opposed privatisation, making AKD’s stance a significant ideological shift that some see as an uncomfortable compromise.

Adding to the heightened economic discourse, the nation’s financial stewards—Central Bank Governor Nandalal Weerasinghe and Finance Ministry Secretary Mahinda Siriwardena—dominated the news cycle. Weerasinghe addressed pressing issues such as exchange rate volatility, balance of payments, and the decision to relax vehicle import restrictions after five years. His remarks underscored the government’s delicate balancing act between economic stability and political pressure to ease restrictions on imports.

Siriwardena, on the other hand, found himself at the center of swirling speculation. Rumors circulated that he would resign by February 1, with media reports suggesting tensions between JVP headquarters in Pelawatte and senior finance ministry officials. The controversy was fueled further by Waruna Rajapaksa, a former JVP figure who now aligns himself with the opposition camp. On his YouTube podcast, Waruna Rajapaksa spoke at length about alleged internal power struggles that could lead to a high-profile resignation ahead of the president’s inaugural budget on February 17. However, sources close to AKD dismissed these rumors, stating that Siriwardena remains committed to overseeing the budget process. This would indicate an effort by the government to project stability amid the speculation.

As the government remains fixated on dismantling the Rajapaksa political network, another seasoned player has quietly resurfaced—former President Ranil Wickremesinghe. His presence in ongoing discussions to unite the United National Party (UNP) and Samagi Jana Balavegaya (SJB) suggests a broader attempt to consolidate the opposition. Multiple rounds of talks have taken place between both camps, with the majority favoring a partnership. However, internal resistance persists, with certain factions actively working to sabotage the alliance. If successful, a UNP-SJB merger could reshape the opposition’s political calculus and pose a greater challenge to AKD’s administration.

Interestingly, despite the government’s aggressive approach toward the Rajapaksas, it has largely left Wickremesinghe and Premadasa unscathed, suggesting a strategic decision to focus on dismantling the Rajapaksa political machine before taking on other opposition figures. This selective targeting has allowed Premadasa and Wickremesinghe breathing space to reorganize, while Rajapaksa loyalists remain under relentless attack.

Beyond formal opposition politics, voices outside Parliament have also emerged as influential critics of the government. Firebrand politicians like Wimal Weerawansa and Udaya Gammanpila have actively fueled anti-government sentiment, keeping public discourse highly critical of AKD’s leadership. Their ability to dominate news cycles despite being outside the parliamentary system illustrates the broader frustration with the government’s perceived inefficiencies and lack of decisiveness.

One of the most damaging moments of the week came from outside traditional politics. Billionaire businessman and Western Province Governor Hanif Yusoof, a close ally of AKD, found himself at the center of a scandal involving the release of containers from the port without proper inspection. The issue quickly escalated into a political firestorm, with critics using it to question the government’s commitment to transparency and governance. Yoosuf’s attempt to defend himself in front of the press backfired spectacularly—his pleading tone only reinforced the perception of wrongdoing, turning the incident into a reputational disaster as he did not receive any narrative backing from the political authority for his defense.

While AKD’s administration has succeeded in maintaining control over state affairs, the opposition has found renewed energy and confidence in challenging the government’s authority. With a two-thirds parliamentary majority, the government remains powerful, but the narrative battle is intensifying. Public frustration over economic stagnation, government contradictions, and the absence of decisive action is beginning to resonate more strongly with opposition forces.

As Sri Lanka moves closer to the presentation of the national budget, all sides are bracing for what comes next. The AKD administration must deliver a budget that satisfies both its IMF commitments and public expectations while avoiding further political missteps. Meanwhile, the opposition will continue to exploit every weakness, hoping to erode the government’s standing further.

For now, the political battlefield remains fierce, with neither side willing to back down. In an environment where perception is as important as policy, the ability to control the narrative will determine who gains the upper hand in Sri Lanka’s ongoing power struggle.