Rajapaksa said he has no plans to hold a snap presidential election as his term ends in 2016. He, however, said he is ready to consider a plea for early polls if the Opposition requests.
He was speaking to newspaper editors here today.
"I will need to ask the opposition leader what election he wants first," the President was quoted as saying by the Colombo Gazette.
Rajapaksa's comments came as the main opposition United National Party (UNP) has been saying it is preparing for an early presidential election.
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The President said no one is above the law and legal action will be taken against any politician, even from the Government, if they violate the law. He said he had instructed the police to take action against those responsible.
"Even politicians cannot abuse the law," the President said.
Asked about the recent incidents to raise religious tensions allegedly involving Buddhist monks, the President said a special police unit will be setup at the Religious Affairs Ministry to probe such incidents.
Yesterday, police received a complaint that a group of Buddhist monks forcibly entered the Commerce and Industry Ministry in search of a rival monk who they alleged had sided with the Muslim minority.
When asked about allegations that there are extremist groups operating in some parts of the country, IGP N K Illangakoon, who was also at the meeting, denied presence of such extremist groups but conceded that there occurred a few isolated incidents for which legal action is being taken.