News
Indian loan has no strings – Basil
Finance Minister Basil Rajapaksa, who returned to Sri Lanka following a visit to India, said the one-billion USD credit facility given by India, did not come with hidden conditions.
The one billion dollars had to be paid back in installments after three years, the Finance Minister said.
Speaking to journalists after returning, Rajapaksa said President Rajapaksa had a long-term plan for the country.
In recent times, loans and relief facilities provided by India to Sri Lanka had exceeded USD 2.4 billion in total. In addition to USD 1 billion agreed upon a few days ago, India has provided a $ 400 million loan, a $ 500 million loan to purchase petroleum and another $ 500 million via the Asian Clearing Union.
The Finance Minister said India had again shown that it stood by Sri Lanka in difficult times. Indian PM Narendra Modi had told him that India would help Sri Lanka with its economic and social needs, Rajapaksa said.
The Finance Minister added that the Indian PM too was an organic farming enthusiast and he had been impressed by the interest shown by the President Rajapaksa in green agriculture. Thus, India would provide adequate quantities of nano fertiliser.
“India gave Sri Lanka a loan of USD 1 billion to purchase food and other essential items for the upcoming Sinhala Tanil New Year. Now the people, people’s representatives and the business community must come together to solve current issues.” the Finance Minister said.
Former Lanka Mineral Sands Ltd. Chairman Udeni Jayaratne Dassanayake was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday over alleged irregularities in the recruitment of casual workers.
According to CIABOC, its investigating officers arrested Dassanayake at around 9.25 am in connection with the recruitment of casual labourers during 2023 and 2024.
The Commission alleged that the workers had been recruited in excess of the approved cadre and outside the prescribed recruitment procedure of Lanka Mineral Sands Ltd.
CIABOC further alleged that Rs. 34,438,650.42 had subsequently been paid as salaries to the workers recruited through the alleged irregular process.
The Commission said the payments had resulted in an undue benefit to the employees concerned and alleged that Dassanayake had committed an offence of corruption in connection with the recruitments and subsequent salary payments.
Colombo Chief Magistrate Asanga S. Bodaragama yesterday ordered the remand of Lakmanthi Hettiarachchi, wife of former Deputy Minister Sarana Gunawardena, until October 6 over an alleged attempt to bribe a court employee.
Hettiarachchi was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday morning for allegedly offering Rs. 50,000 to an office assistant attached to the Colombo High Court.
According to CIABOC, the alleged bribe was offered in an attempt to influence the imposition of a suspended prison sentence on Gunawardena.
The Magistrate issued the remand order after considering submissions by CIABOC officials and lawyers representing Hettiarachchi.
CIABOC is conducting further investigations into the alleged bribery attempt.
The case follows the Colombo High Court sentencing Gunawardena to 16 years’ rigorous imprisonment in June after finding him guilty of several corruption charges.
The Parliamentary Committee on High Posts has approved three key appointments, including Sri Lanka’s new Ambassador to the Philippines, High Commissioner to Canada and Chairman of the Sri Lanka Insurance Corporation Ltd.
The approvals were granted when the Committee met recently, under the chairmanship of Prime Minister Dr. Harini Amarasuriya.
Accordingly, the Committee approved the appointment of Anzul Banu Jhan as Sri Lanka’s Ambassador to the Republic of the Philippines.
Chandana Rohana Kumara Ambagolla was approved as the country’s new High Commissioner to Canada.
The Committee also approved the appointment of Nusith Kumarathunga as Chairman of the Sri Lanka Insurance Corporation Ltd.
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