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Cabraal: Govt. about to start many investment projects especially related to Colombo Port City, Hambantota 

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By Saman Indrajith

State Minister of Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament, on Friday, that Sri Lanka’s growth prospects were positive, underscored by a stable currency and sound debt repayment capacity.

 Participating in an adjournment debate on the prevailing situation in the country, the Minister said that the government was readying to start investment projects with construction permits and other such support to revive key sectors. 

The Minister said that the government was in the process of putting delayed investment projects on track and construction permits would be given soon to revive the sector. Among the key projects would be the Colombo Port City and Hambantota Port ventures as well as hundreds of multilateral funded projects that had been delayed over the past few years. 

Sri Lanka was in a comfortable position with regards to its debt repayment ability and would not default on its payments, at all, the State Minister said, adding that the external sector had been revised quite substantially over the last one year and the trade balance had also improved largely due to import restrictions that have been in place by the government since early 2020. 

“We are comfortable about our debt payments, and even though there were instances where the rating agencies made remarks which are not complimentary, they have been able to come back and say Sri Lanka would probably be able to maintain an impeccable position vis-à-vis the debt repayment ability.”

The Minister said the government was working out a SWAP arrangement with the Central Bank of another country, which would provide the standby arrangement ensuring that the rupee would stay stable even in the longer term. 

Minister Cabraal said that the country had managed to achieve a positive economic growth of 1.5% during the third quarter of last year despite the many challenges posed by the COVID-19 pandemic.

“We see the rupee has become stable. It was depreciating at the average rate of 6.8 % for the five years under the last government but we have been able to control it effectively and as a result, the depreciation has been limited to just 2.8%, and if not for COVID, we would have seen an appreciation of our currency.”



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LAWASIA warns against ad hoc initiative to increase judges’ retirement ages

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T.L Yap

The Law Association for Asia and the Pacific (LAWASIA) has backed the campaign by the Bar Association of Sri Lanka against the government’s effort’s to extend the retirement ages of judges of the Superior Courts.

T.L Yap, President of LAWASIA, in a statement dated 26 June, has expressed concern over the NPP government’s move in the wake of President Anura Kumara Dissanayake’s recent statement in Parliament on the delay in making the appointments.

The text of the statement: “LAWASIA shares the concern expressed by the Bar Association of Sri Lanka (BASL) on 25th May 2026 in a letter to His Excellency the President of Sri Lanka regarding the prospect of the Government of Sri Lanka introducing an amendment to the Constitution which would increase the retirement age of the Judges of the Court of Appeal and the Supreme Court.

LAWASIA supports the sentiments expressed by BASL in its letter of 25 May, namely: “Extending the retirement age of the sitting Judges of these Courts at this point of time is likely to be viewed by the public as a blatant attempt to interfere with the judiciary… The independence of the Judiciary and the public confidence reposed in it, are indispensable pillars of the rule of law and the democratic framework of (Sri Lanka).

In that regard it is of paramount importance that the Judiciary must not only remain independent in fact but also must be seen by the public to be wholly independent, impartial, and free from even the slightest perception of influence, favour, accommodation, or impropriety”

The Constitution of Sri Lanka recognizes the independence of the judiciary and its importance in preserving and maintaining the rule of law. The retirement age of senior judges is presently fixed by Article 107(5) of the Constitution. Constitutional amendment in any jurisdiction is a serious matter which must not be undertaken lightly. LAWASIA’s principal concern is that the proposed constitutional amendment has the appearance of an ad hoc initiative without adequate public consultation. This in turn has the potential to undermine public confidence in the judiciary.

An independent, competent and respected judiciary is the cornerstone of any democracy. LAWASIA has long advocated the fundamental importance of this principle.

The essence of LAWASIA’s formal position in relation to the independence of the judiciary lies in the Beijing Statement of Principles on the Independence of the Judiciary in the LAWASIA Region, adopted at the Conference of Chief Justices held in Beijing in 1997 and subsequently signed by 32 Chief Justices from across the Asia-Pacific.

The Beijing Statement in essence emphasizes the fundamental importance of the independence of the judiciary, and comments on a range of related issues including the objectives of the judiciary, the appointment of judges, the tenure of judges, judicial conditions and the relationship between the judiciary and the executive.

Endorsing the concerns raised by another international organization, the Commonwealth Lawyers Association, LAWASIA accordingly calls upon the authorities in Sri Lanka to:

• refrain from proceeding with the proposed constitutional amendments seeking to increase the

retirement age of members of the Judiciary;

• resist piecemeal and ad hoc amendments to the Constitution of Sri Lanka.

• adhere to due process of consultation and stakeholder engagement in constitutional reform;

• desist from taking any steps which would undermine confidence in the Judiciary and

irreparably diminish the independence of the judiciary; and

• ensure adherence to the rule of law and respect for the independence of the judiciary.

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Countrywide drug bust:7, 300 youths arrested

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A total of 7,300 young people, below the age of 21, had been arrested on suspicion since the launch of the nationwide ‘Ratama Ekata’ anti-drug operation, DIG in charge of the Police Narcotics Bureau, Ashoka Dharmasena, told The Island yesterday.

DIG Dharmasena said the suspects included about 150 females under the age of 21. He added that more than 214,000 suspects had been taken into custody since the commencement of the national anti-narcotics operation.

The operation was launched with the primary objectives of disrupting the supply of narcotics across the country, reducing the demand for illegal drugs and rehabilitating those addicted to narcotic substances, he said.

DIG Dharmasena said law enforcement authorities had so far seized more than 15,000 kilogrammes of narcotics, including cannabis, during the ongoing operation.

He also noted that police had achieved considerable success in intercepting narcotics smuggled into the country by sea, contributing significantly to efforts to curb the illicit drug trade.

The Police Narcotics Bureau said the nationwide operation would continue as part of the government’s broader strategy to dismantle drug trafficking networks and minimise the social impact of narcotics.

by Norman Palihawadane ✍️

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ANP leader further remanded

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Leader of the Abhinava Nivahal Peramuna, Amit Weerasinghe, was yesterday ordered to be remanded until July 3 by Teldeniya Magistrate Kamal Sanjaya Jayatilake over allegations that he defrauded state officials and businessmen of approximately Rs. 120 million by promising to construct cabana holiday resorts in Ella and Digana.

The suspect was produced before court by the Teldeniya Police Headquarters following his re-arrest on fresh complaints. The Magistrate also ordered an investigation into the suspect’s assets and properties, imposed a travel ban, and directed authorities to freeze his bank accounts.

The Teldeniya Police informed the Magistrate that 26 complaints had been received against the suspect so far and that investigations had revealed a large-scale financial fraud.The Magistrate further directed the police to hand over investigations into the alleged fraud to the CID in Colombo by the next court date.

Weerasinghe had previously been granted bail by court but was arrested again following the receipt of additional complaints.

Investigations are being conducted by Teldeniya Police Headquarters OIC CI D. M. Chandrapala and Teldeniya Division SSP Harsha Amarasinghe under the supervision of Central Province Senior DIG Lalith Pathinayake and DIG Sudath Masinghe.

by SK Samaranayake ✍️

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