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CoPF approves, subject to conditions, the bill to suspend the “parate law” until December 15

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The Committee on Public Finance (CoPF) has approved, subject to conditions, the Recovery of Loans by Banks (Special Provisions) (Amendment) Bill which was amended to facilitate legal provisions for the suspension of Parate Law until December 15 2024. Accordingly, the banks’ practice of acquiring properties of whose loans are yet to be paid off will be suspended until December 15 and the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990 will be amended to facilitate the necessary legal provisions.

The approval was given when the Committee on Public Finance met in Parliament recently (Apr. 30) under the chairmanship of Member of Parliament Dr. Harsha De Silva.

Officials representing the Ministry of Finance said that they hope to provide temporary relief to the creditors. Accordingly, the committee questioned the officials what action will be taken in this regard after December 15. Thus, the officials present failed to give a clear answer in this regard and the committee recommended to provide a road map for the actions to be taken after December 15 to those subject to Parate Law.

Also, the committee recommended that all the parties who have done business with the banks subject to Parate Law should be given a fair opportunity to negotiate with the banks.

The committee also questioned the officials about the distribution of loans under the Parate Law. The chair of the committee inquired about the manner in which the micro, small scale and medium scale enterprises in particular have received loans under this law and the criteria under which they are classified. The officials did not have the correct data about this and the chair of the committee instructed the officials to provide that data to the committee.

The committee also inquired the percentage of the sectors that were most affected. Furthermore, the committee asked the officials to provide data on the implementation of the Parate Law in other periods compared to the specific period in which there was an economic recession due to the impact of the corona virus in 2020, 2021 and 2022. The officials present mentioned that the data on this matter this will be presented to the committee in the future.

Meanwhile, the committee has also given its approval for the orders under the Foreign Exchange Act No. 12 of 2017 and the regulations under the Sri Lanka Securities and Exchange Commission Act No. 19 of 2021. Also, the committee approved the regulations under the Import and Export (Control) Act No. 1 of 1969.

State Minister. (Dr.) Suren Raghavan, Members of Parliament Hon. Premnath C. Dolawatta and Hon. Madhura Withanage participated in this committee.

Officials representing several government institutions including the Ministry of Finance, Economic Stabilization and National Policy, the Auditor General’s Department, the Central Bank of Sri Lanka, and Sri Lanka Customs were present.



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Sri Lanka’s World Cup winning team conduct coaching session in KL

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(Pics by Rex Clementine's Fb page)

On day two of Sri Lanka’s World Cup winning cricket team’s tour of Malaysia, they conducted a coaching session for children at the Royal Selangor ground in Kuala Lampur.

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Marsh onslaught, Akash three-for dent Chennai Super King’s playoffs chances

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Mitchell Marsh smashed 56 runs on his own in the powerplay [BCCI]

Mitchell Marsh’s boundary-laden 90 off 38 balls dented Chennai Super Kings’  playoffs chances and gave the Lucknow crowd something to cheer about. Chennai Super Kings (CSK) dropped from fifth to sixth after the result, with Rajasthan Royals (RR) leapfrogging them on net run-rate.

In pursuit of 188 on a tricky surface, Marsh flew out of the blocks, smashing 56 of the 86 runs Lucknow Super Giants (LSG) had hit in the powerplay. At the halfway mark of the game, ESPNcricinfo’s forecaster had pegged LSG’s win probability at 39.49%. It zoomed up to 91.24% after Marsh’s unfettered powerplay assault. Marsh fell ten short of a century, but Nicholas Pooran increased the count to 100% and sealed LSG’s fourth win this season.

They won by seven wickets with 20 balls to spare, but it still wasn’t enough to drag them up from the foot of the points table.

Akash Singh emerged from the sidelines for his first game of the season and produced career-best IPL figures of 4-0-26-3, against his former team. While Mohammed Shami explored the full length and conceded three fours to Sanju Samson in the first over, Akash banged it away on a hard length on a bouncy, red-soil Ekana pitch. He cramped all of Ruturaj Gaikwad, Samson and Urvil Patel and celebrated every wicket by pulling out a note from his pocket, which read: “#Akki on fire – Akash knows how to take wickets in a T20 game”

Only four of Akash’s 18 balls in the powerplay were fuller than a good length, according to ESPNcricinfo’s logs. His impeccable lengths were central to LSG restricting CSK to 37 for 2 in six overs. Akash bowled four overs on the trot and proved his point.

CSK’s 36 for 2 became 52 for 3 when Urvil holed out, but rookie Kartik Sharma repaired the innings along with Dewald Brevis, who contributed 25 off 16 balls. When left-arm fingerspinner Shahbaz Ahmed dragged one marginally short, Kartik picked up the length in a flash and swatted a six over midwicket in the ninth over. While Kartik’s back-foot play was Ambati Rayudu-esque, some of his front-foot shots and off-side range were reminiscent of Samson.

All told, Kartik took Shahbaz for 30 off 15 balls before the spinner had him caught at long-on in the 16th over. Kartik showed that he could also cut it against extreme pace as well when he backed away against Mayank Yadav and scythed a 144kph delivery to the right of point for four.

Kartik reached his half-century off 35 balls and hushed Ekana with his finger-on-the-lip celebration. When he was looking good for more, he fell for 71 off 42 balls.

Shivam Dube managed just one boundary off his first 11 balls, but went 6,4,4,6 off his last four balls to finish with an unbeaten 32 off 16 balls. Prashant Veer made a more sedate 13 not out off ten balls. With LSG incurring a penalty for slow over rate in the last over of the innings – they had just four men outside the circle – Prince Yadav cracked under pressure and leaked 23 runs.

Marsh set the tempo for the chase when he walked down the track to Mukesh Choudhary and picked him for four. Mukesh ended up conceding 15 runs in his first over and was taken out of the attack.

At the start of the third over, Marsh charged at Anshul Kamboj, manufactured swinging room and cracked him through the covers. It threw Kamboj off his signature hard length and he kept digging it shorter without having enough pace to trouble Marsh. In the penultimate over of the powerplay, Marsh lined Kamboj up for four sixes and a four. Marsh didn’t spare his Australia compatriot Spencer Johnson, who was on CSK debut, either, bashing him for three fours and a six in the sixth over.

In the absence of Jamie Overton, whose IPL has been cut short by injury, CSK lacked a middle-overs enforcer. They tried Gurjapneet Singh, but Marsh advanced at him too and launched him over the covers. Josh Inglis was just content to ride in Marsh’s slipstream.

Soon after Johnson knocked Abdul Samad over for seven off three balls, but Pooran rushed LSG home with four successive sixes off Kamboj, leaving CSK’s best bowler this season nursing figures of 2.4-0-63-0.

Brief scores:
Lucknow Super Giants 188 for 3 in 16.4 overs (Mitchell Marsh 90, Josh Inglis 36, Nicholas Pooran 32*, Mukul Choudhary 13*; Mukesh Choudhary 1-24, Spencer Johnson 1-39) beat Chennai Super Kings 187 for 5 in 20 overs (Sanju Samson 20, Rutraj Gaikwad 13, Kartik Sharma 71, Dewald Brevis 25, Shivam Dube 32*, Prashant Veer 13*; Mohammed Shami 1-41, Akash Singh 3-26, Shahbaz Ahmed 1-45) by seven wickets

[Cricinfo]

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ICC suspends funding to Cricket Canada over governance-related issues

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Cricket Canada has also faced administrative challenges over the last year [Cricinfo]

The ICC has suspended funding to Cricket Canada over governance-related issues. Cricket Canada was informed earlier this week by the global governing body and faces a freeze in the funding it receives for the next six months.

ESPNcricinfo understands the funding suspension will not impact any cricket activities, including high performance programmes. But it will be a significant blow to Cricket Canada, who, as an Associate Member, rely heavily on ICC distributions. Its financial statement for the year-ending 2024 showed that income from the ICC made up 63% of the board’s total income (CAD$3.6 million out of a total revenue of CAD$5.7 million).

The details around the governance failures are not yet known, though the fifth estate in Canada, an investigative documentary programme, has reported “breaches of ICC policies, including concerns over Cricket Canada’s governance and lack of financial oversight.”

Cricket Canada has gone through a period of turmoil on and off the field recently. Canada’s match against New Zealand at the recent T20 World Cup is the subject of a probe by the ICC’s anti-corruption and integrity unit.

Another ACU investigation is underway, stemming from a recording of a telephone call involving then Canada coach Khuram Chohan,  in which he claimed that senior (now former) Cricket Canada board members put pressure on him to select certain players to the national side. The audio was leaked last year and also contains claims of attempts to corrupt matches.

Last month, in a statement to ESPNcricinfo on the corruption investigation, Andrew Ephgrave, the ICC’s interim anti-integrity unit head had said: “Governance matters in relation to ICC Members are considered by the ICC, where they fall under its jurisdiction, in accordance with the ICC’s standard constitutional processes.”

Cricket Canada has also faced administrative challenges over the last year, most notably in the appointment and subsequent removal of former CEO Salman Khan. His appointment had attracted ICC attention, for failing to disclose prior criminal charges and he has been charged with theft and fraud by Calgary Police. Salman has denied the claims. In April, Arvinder Khosa was made the interim board president, replacing Amjad Bajwa.

The ICC’s funding decision came immediately after Cricket Canada’s annual general meeting last weekend (May 9-10), in which the board announced reforms it said were part of its “ongoing governance transformation initiative”. It also elected a new nine-person board of directors, with Khosa elected president, after his interim stint.

The ICC did not comment on the development and ESPNcricinfo has approached Cricket Canada for comment. In a statement to the fifth estate, the board’s media manager Jimmy Sharma said: “The current Board has inherited these issues and is fully committed to resolving all governance, compliance, and financial control deficiencies.”

[Cricinfo]

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