For the presidential election, the security deposit for a candidate from a recognised political party has been raised from 75,000 Sri Lankan rupees to 2.6 million rupees while the security deposit for an independent candidate is to be raised from 50,000 Sri Lankan rupees to 3.1 million rupees
The presidential election in Sri Lanka is likely to be held between September- November this year. As the South Asian country heads to its decisive polls the Cabinet of ministers has approved a proposal to increase the deposit placed by candidates representing recognised political parties as well as independent candidates. The move was made collectively by President Ranil Wickremesinghe and Minister of Justice Wijeyadasa Rajapakshe.
Here’s a closer look.
Hike election deposits
The Cabinet this week noted that it is appropriate to update the existing security deposit limits according to the provisions of the President’s Election Act, Parliamentary Elections Act and the Provincial Councils Elections Act, timely in the current social, economic and political context.
For the presidential election, the security deposit for a candidate from a recognised political party has been raised from 75,000 Sri Lankan rupees to 2.6 million rupees while the security deposit for an independent candidate is to be raised from 50,000 Sri Lankan rupees to 3.1 million rupees.
In parliamentary elections, the security deposit for a candidate from a recognised political party is to be raised from 2,000 Sri Lankan rupees to 11,000 rupees while the security deposit for an independent candidate is to be increased from 2,000 Sri Lankan rupees to 16,000 rupees.
For the local government polls, its 6,000 Sri Lankan rupees for a party candidate, while an independent candidate has to pay 11,000.
Commenting on the proposed security deposit rate increases, the election monitoring groups said the changes might not come into force till the next elections as the necessary law enactments would take time.
Sri Lanka is dealing with the aftermath of its worst financial crisis in decades, which forced the postponement of the elections in 2023 due to a lack of funds.
The next presidential election must be held between mid-September and mid-November this year while the parliamentary election is due only by August next year.
The government said the legal draftsman has been advised to prepare a bill to amend the security deposit rates.
First presidential election after bankruptcy
According to reports in media, President Wickremesinghe could contest in a common alliance with the backing of some Opposition party strongmen. Though, he has not declared it officially yet.
Wickremesinghe was elected in a Parliament vote after his predecessor resigned and is unpopular due to his austerity policies. Opposition figures Sajith Premadasa and Anura Kumara Dissanayake are likely to be other candidates.
Countries such as India and China will be closely watching the polls as they provide assistance and loans to the country.
With inputs from PTI
Source: firstpost.com/explainers
