News
CB Governor highlights key challenges and opportunities facing country’s construction industry
Governor of the Central Bank Dr. Nandalal Weerasinghe yesterday (14) emphasized the importance of promoting a sustainable and cost-effective construction industry in the country, highlighting key challenges and opportunities in the sector.
Speaking at ‘Construction Expo 2025’, Dr. Weerasinghe underscored the need for Sri Lanka to align with global trends in sustainable construction, integrating cost-effective energy solutions and eco-friendly building practices.
“I must say my views here are not necessarily as a Governor of the Central Bank of Sri Lanka, but as a person looking at this construction industry and how this can be developed and what the issues are. Sustainability in construction is essential, not just for new projects but also for existing buildings,” he noted.
Dr. Weerasinghe acknowledged that the construction sector has been one of the hardest-hit industries due to multiple economic pressures in recent years, including the decline in public investments, high material costs and the industry being dependent on government projects.
The CBSL Governor, who acknowledged that the government faced fiscal constraints, limiting infrastructure spending and delaying payments to contractors, said that, however, the outstanding arrears had now been settled.
“Government did not have space to spend money for public investment, especially construction, and that had a significant impact on the industry, in the last couple of years, plus the government inability to pay the arrears for a long period. That was other issue we all recognize
that has been one of the adverse impacts the industry had in the past”, he expressed.
“Also the cost of materials went up significantly, partly because of foreign exchange shortages. As a result, the shortage had shot up the prices of construction materials, as well as depreciation of the currency, high interest rates, finance costs, and other factors. We all recognize that it had an adverse impact on the industry. It’s one of the worst affected industries because of all these factors.”
News
Ranawaka accuses govt. of using JVP cadres and police to suppress political opponents
… reminds AKD led over 560 protests during Yahapalanaya
Former Yahapalana Minister and United Republican Front (URF) leader Patali Champika Ranawaka yesterday (19) alleged that the JVP, which carried out over 560 protests during the 2015-2019 period, was now bent on preventing the Opposition from exercising its democratic right to protest.
Recalling the declaration made by the JVP at the height of the violent protest campaign in July 2022 that it would set the Parliament ablaze, the former parliamentarian lashed out at the JVP-led administration for using the police excessively to curb political opposition. Ranawaka said this while addressing the media at the former President Ranil Wickremesinghe’s Flower Road Office .
Commenting on the protest campaign launched by the Maha Sangha, demanding presidential pardon for General Secretary of the Bodu Bala Sena (BBS) Ven. Galagotaatte Gnanasara, the ex-Colombo District lawmaker alleged that President Anura Kumara Dissanayake used a combination of police, investigative units and JVP cadres to break up the monks’ protest. The government went to the extent of compelling the JVP/NPP-run Colombo Municipal Council (CMC) to deprive the peaceful protesters of basic toilet facilities, he alleged.
The government’s actions proved that only those with prior approval from JVP Pelawatte headquarters could launch protests in Colombo, its suburbs or in the provinces. The police have become a political tool in the hands of the JVP, the ex-Minister said. (SF)
News
Six killed as speeding bulker crashes into vehicles, shop in Akurana
By SK Samaranayake
Six people were killed and seven others injured when a speeding bulker lorry carrying cement and concrete ploughed into several vehicles and a shop on the Kandy-Jaffna A9 road at Kurugoda, Akurana, yesterday (19).
Four of the victims, two women and two men, died on the spot in the accident which occurred around 10.30 am, according to Alawathugoda Police.
Police said the bulker, travelling at high speed from the Matale direction, collided with three three-wheelers, two motorcycles and two lorries before veering off the road and crashing into a commercial establishment.
Five of the injured were rushed to the National Hospital of Kandy, where hospital sources said two remained in critical condition.
The bodies of the four victims were placed at the Akurana Hospital, where two others, who suffered minor injuries, were also receiving treatment.
The driver of the bulker was arrested by the Alawathugoda Police Traffic Division and is to be produced before court.
Investigations are being conducted under the supervision of Central Province Senior DIG Lalith Pathinayake.
News
Prof. Peiris, summoned by CIABOC, appeals for Ven. Gnanasara’s release
By Shamindra Ferdinando
owledging that there had been an administrative lapse on the part of the President’s Office in 2019 when Maithripala Sirisena granted presidential pardon to Ven. Gnanasara Thera, Convener of Janathawadi Joint Opposition Prof. G.L. Peiris yesterday (19) urged President Anura Kumara Dissanayake to rectify whatever those shortcomings and release the General Secretary of Bodu Bala Sena.
Addressing the media at the former President Ranil Wickrekmesinghe’s Flower Road Office, Prof. Peiris emphasized that it was not fair to hold Ven. Gnanasara accountable for lapse or technical fault of others at the Presidential Secretariat during President Sirisena’s tenure.
Prof. Peiris was flanked by UNP Chairman Wajira Abeywardena and United Republican Front (URF) leader Patali Champika Ranawaka.
The fresh appeal was made on behalf of Ven. Gnanasara in the wake of President Dissanayake and JVP heavyweight Anura Kumara Dissanayake ruling out fresh presidential pardon for the monk. Minister Lal Kantha declared that the government couldn’t under any circumstances meet the continuing monks’ protest demanding Ven. Gnanasara’s release. President Dissanayake dismissed repeated appeals for Ven. Gnanasara’s release when he addressed the NPP really in Badulla.
Sirisena granted presidential pardon in May 2019 even before he completed a year of his six-year term of rigorous imprisonment for contempt of court during proceedings of the media personality Prageeth Ekneligoda’s 2010 January disappearance in the Homagama Magistrate’s court.
At the onset of the regular weekly briefing, Prof. Peiris said that he would report to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) today (20) morning as requested by the commission. “The CIABOC wanted to record my statement regarding a meeting I chaired at the ministry after the conclusion of the war in 2009 pertaining to an ongoing investigation.”
Commenting further on the imprisonment of Ven. Gnanasara, the former parliamentarian said that President Sirisena intervened following a spate of requests made on behalf of BBS General Secretary by the Mahanayakes, Anunayakes and other Maha Sangha.
The Supreme Court on 10 September, 2026 rescinded the presidential pardon granted in late May 2019.
-
Features2 days agoKotahena:A Small Enclave, An Extraordinary Legacy
-
News6 days agoSri Lanka, India caught in US-Iran ship crisis
-
News3 days agoAsgiri Mahanayake calls for immediate release of Gnanasara Thera
-
Latest News6 days agoMissiles intercepted near Riyadh after Saudi coalition hits Yemen fuel depot
-
Latest News7 days agoKusal Mendis’ unbeaten 87 hands Sri Lanka consolation win
-
News2 days agoRecord 1,600 students take Russian Classical Ballet examination in Sri Lanka
-
News5 days agoAC President recuses himself from hearing prison attire case pertaining to Gnanasara Thera
-
Latest News6 days agoHeavy showers above 100 mm are likely at some places in the Western, Sabaragamuwa, Southern, Central, and North-western provinces and in Anuradhapura district.
