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A strong partnership with India is needed to achieve Sri Lanka’s development goals – President
President Ranil Wickremesinghe during his address at the 31st All India Partner’s Meet 2024 (AIPM 2024), held at ICT Ratnadipa in Colombo, expressed his commitment to maintaining a strong partnership with India to achieve Sri Lanka’s development goals.
The AIPM 2024 which was organised by KPGM Sri Lanka and India provided a platform for both countries to reaffirm their commitment to collaborative projects that promise to redefine bilateral relations and propel socio-economic growth.
In his address President Wickremesinghe said:
“It’s a great pleasure and a privilege to have you in Sri Lanka, in Colombo, holding this meeting. It shows on one hand the close friendship that our two countries have, and on the other hand, the confidence that you have in Sri Lanka.
Having now survived two difficult years, I must acknowledge that this was possible because India gave us a loan of $3.5 billion. All that will be repaid. We have already repaid the loan of $200 million that Bangladesh gave us.
We have just concluded the board of directors meeting of the IMF, which was quite successful and are preparing thereafter to meet with our creditor nations, the Paris Club, India and others, who meet at the official creditors committee next week, and also carrying on discussions with China with the Exim Bank of China.
Once we conclude the discussions, then we come to the next phase. With this, we are ready to sign the agreements with our official creditors and with the Exim Bank of China. So next week, on Wednesday, we will be meeting with the OCC, and also in the course of next week, we are carrying out discussions with the Exim Bank of China. And I hope by next week, or thereafter, that we will have come out of this phase of bankruptcy and into the next phase as we go ahead.
Sri Lanka’s return to business signifies a pivotal decision-making phase. The key question is defining what this return entails. Returning to business as usual would mean continuing as an import-dependent economy, leading to on-going borrowing to fund imports and perpetuating a harmful cycle. Having faced this scenario before, the crucial question now is whether we are willing to repeat this path.
Alternatively, the objective is to gradually shift towards becoming a competitive, export-oriented economy, marking a significant goal. Acknowledging the inherent challenges in this transformation, especially in Sri Lanka’s context, we have adopted a new approach: enacting legislative economic policies to effectively steer this transition.
We will introduce policies aimed at achieving economic transformation: moving towards a highly competitive, digital, green, and export-oriented economy. These policies will establish benchmarks for foreign investments, export earnings, and reducing multi-dimensional poverty—a first in our region.
Traditionally, policies in Sri Lanka have been subject to change with each new government. To address this, we have drafted the Economic Transformation Bill, currently undergoing pre-legislative scrutiny in Parliament and the courts.
In addition to outlining policies, we are establishing new institutions such as the Economic Commission, which will assume responsibilities from the BOI to drive investment, a dedicated agency for managing investment zones, an International Trade Office to enhance global trade, and a National Productivity Commission to boost productivity. Furthermore, the Institute for Economics and International Trade will serve as a think tank, bringing together economists and experts to shape Sri Lanka’s economic strategies effectively. So this is broadly the route that we intend to take
Second is the second eye, which I have taken on today, which are on my agenda, that’s India. When I was in Delhi last week, I discussed with Prime Minister Modi the need to accelerate the joint program that we have decided, agreed on. So the major ones are identified, and Foreign Minister Jaishankar came down today to have a discussion. Now this will show the new path we are taking, and a number of projects, all will be in one parcel.
It won’t be individual projects. We’ve discussed a fair number of them. First is the grid interconnection between Sri Lanka and India, so that sustainable energy can be transmitted to India, where you all need that very badly. We have the Sampur solar power project, which is a Government to Government (G2G) project, and a three island project, which is where we hope the ground breaking can take place in July.
Additionally, there is a focus on a project to establish a land connectivity between Sri Lanka and India. Extensive discussions have also taken place regarding expediting the Trincomalee Development Project, which encompasses industrial investment zones and tourist areas. Furthermore, plans are underway to construct a multi-product oil pipeline from Nagapatnam to Trincomalee, pending the final observation report. Trincomalee is poised to become a hub for oil refining, with the development of ports and investment zones, transforming Trincomalee Port into a significant hub on the Bay of Bengal.
Today, the entire East Coast is being opened up for tourism, with additional land earmarked for hotels in Galle and southern areas. Moreover, there are plans to establish more investment zones across the country, alongside expanding our professional training programs. In these endeavours, we are collaborating closely with India”.
[PMD]
News
Fast Attack Craft P 4447 recovered in successful salvage operation
The Sri Lanka Navy successfully recovered its Fast Attack Craft P 4447 following a successful salvage operation, bringing a multi-stage emergency response to a close.
The craft, which ran into distress during a routine patrol on 15th August 2026 off Angulana, was brought to the surface on 11th September, from a depth of approximately 80 feet. It was
subsequently towed to the Colombo Dockyard premises.
The initial phase of the operation immediately following the incident focused on search and rescue. A joint effort involving the Navy, Air Force, Police, and local fishermen from Angulana
resulted in the rescue of 11 crew members. The search and rescue phase drew to a close with the recovery of the remains of the Second in Command of the craft, on 4th September.
Following the search and rescue phase, specialized Navy diving and salvage teams launched a dedicated recovery phase against rough sea conditions and underwater challenges, adhering to
strict safety protocols. The Navy’s marine, hull, electrical, and electronic engineering teams utilized specialized technical know-how and equipment to raise the vessel in stages.
Thus, the salvage operation marked an outstanding achievement attained through the professionalism, technical expertise of Navy divers, and coordinated contribution of all
engineering and technical branches of the Sri Lanka Navy. Technical support and specialized expertise were also extended by the Sri Lanka Ports Authority and Colombo Dockyard PLC.
News
CIABOC member’s appointment: Controversy over Speaker under probe heading selection process
By Shamindra Ferdinando
The Opposition should intensity its focus on the forthcoming selection of a member of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and remain vigilant as Speaker Dr. Jagath Wickremaratne, MP, the head of the Constitutional Council (CC) tasked with making the relevant recommendation, is under investigation by the CIABOC, sources familiar with the ongoing inquiry told The Island.
Chethiya Goonasekara, PC, is expected to complete his three-year term on Dec 31, 2026. Sources pointed out that CIABOC Commissioners are appointed by the President on the recommendation made by the 10-member Constitutional Council.
The CIABOC initiated the investigation following a complaint lodged by suspended Chief of Staff and Deputy Secretary General of Parliament Chaminda Kularatne in early February this year. Sources said that as Goonasekera is scheduled to complete his term toward the end of 2026, the CC would have to call applications soon to choose the successor.
Goonasekara received his appointment from President Ranil Wickremesinghe in January 2024. A Justice W. M. N. P. Iddawala was appointed Chairman of the CIABOC. The other commissioner is K. Bernard Rajapakse.
Asked whether Iddawala and Rajapakse, too, would complete their terms soon, sources said that in terms of the Anti-Corruption Act No 09 of 2023, the Chairman of CIABOC would hold office for a period of five years, second commissioner (K. Bernard Rajapakse) for four years and the third commissioner (Chethiya Goonasekara) for a period of three years.
Sources said that the Opposition as well as civil society representatives in the CC should take up the issue of Speaker facing an investigation by the CIABOC taking part in the forthcoming selection process. Responding to queries, sources emphasized that the issue was whether in terms of Section 107 of the Anti-Corruption Act the participation of the Speaker in the selection process amounted to a violation of the Act itself.
The current members of the CC are Dr Jagath Wickramaratne, Speaker and Chairman of the Constitutional Council, Dr. Harini Amarasuriya, Prime Minister, Sajith Premadasa, Leader of the Opposition, Bimal Rathnayake, MP, Aboobucker Athambawa, MP, Ajith P. Perera, MP, Sivagnanam Shritharan, MP, Austin Fernando, Civil society representative, Prof. Wasantha Seneviratne, Civil society representative and Ranjith Ariyaratne, Civil society representative.
Sources pointed out that in spite of the sensitivity of the case, the CIABOC recorded Kularatne’s statement in the second week of August, six months after he lodged the complaint.
The CIABOC on 3, 8 and 10 Sept recorded the statements from the Transport Officer, Deputy Director, Administration and Assistant Director, Finance regarding the use of facilities by the Speaker, those assigned to his staff and other relevant matters.
The NPP named Dr. Wickramaratne as the Speaker after Asoka Ranwala resigned over controversy regarding his higher education qualifications.
SJB lawmaker Dayasiri Jayaskera has repeatedly raised the issues concerning the Speaker with the focus also on the Speaker using two government-managed residences, relevant staff in addition to expenditure on food, transport and fuel provided to the Speaker’s private secretary.
Political sources said that trouble erupted after the Parliamentary Staff Advisory Council in late January sacked Kularatne accusing him of providing false information to secure his appointment. Before being appointed as the Deputy Secretary-General of Parliament in 2023, Kularatne held several high-ranking positions, including Secretary to the Chief Government Whip, Additional Secretary to the President, Additional Secretary to the Prime Minister, and Additional Secretary to the Leader of the Opposition.
The SJB declared in Parliament that Ranwala should be brought back as the Speaker as they have no faith in Wickramaratne. MP Mujibur Rahuman jokingly told parliament that the Opposition wouldn’t raise Ranwala’s educational qualifications.
News
GMOA: Countrywide cadre revision not done since 2015
The Government Medical Officers’ Association (GMOA) has stressed the need to conduct a comprehensive countrywide cadre revision urgently.
GMOA spokesman Dr. Lasitha Dhammika told The Island that the failure on the part of successive governments to conduct cadre revision caused the deterioration of the public sector health services. Due to the absence of required statistics, they hadn’t been able to fully comprehend the situation on the ground and to ascertain the requirements of the public.
Dr. Dhammika pointed out the expansion of the services without supporting statistics and the need to initiate an immediate cadre revision. According to him, the GMOA had raised this issue with successive governments without success. The GMOA spokesman said that they also sought relevant information from the Health Ministry in terms of the Right to Information (RTI) Act two weeks ago but was yet to receive response.
(SF)
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