News
Another Japanese company pulls out of SL
Close on the heels of Mitsubishi Corporation winding up its operations in Sri Lanka, another Japanese company Taisei Corp, too, has decided to pull out as Sri Lanka’s economic crisis makes doing business difficult, said a report published by the Nikkei Asia on Saturday.
The report said: Trading house Mitsubishi says it will close its Colombo office at the end of March, citing “changes in the economic environment.” The office was set up to gather information and to serve as a liaison with the headquarters in Japan.
The company handles engineering, procurement and construction for power plants and trades in steel and chemical products in Sri Lanka. Projects already in progress will continue and be managed by staff in neighbouring countries.
In March 2020, engineering group Taisei won a contract worth 62 billion yen ($462 million at current rates) for the construction of a four-story passenger terminal building, an elevated bridge and more for the second phase of the expansion of the Bandaranaike International Airport near Colombo.
As the economic turmoil deepened, the Japan International Cooperation Agency stopped lending to state airport operator Airport and Aviation Services (Sri Lanka), drying up funds for the project. The engineering company is negotiating with the airport operator to cancel the project and is in the process of liquidating the project. It has apparently booked losses on the project.
“We will refrain from commenting on individual projects,” the company said.
JICA is not expected to withdraw funding for the airport construction itself and will likely look for another company to take over. Sri Lankan media have reported that a Chinese company was interested in the project, but the JICA loan is conditioned on participation by Japanese companies.
The Cabinet of Ministers approved the resolution furnished by the Minister of Transport, Highways and Urban Development to accept 08 used low floorboard buses offered as a grant by the Government of Japan.
News
Payment of the financial subsidy for fertilizer to farmers cultivating paddy lands for the Yala season 2026.
While approval has been granted at the Cabinet meeting held on 18.08.2025 to pay the financial subsidy for fertilizer to farmers cultivating paddy lands for the Maha season 2025/26, the programme is planned to be continued for the Yala season 2026 as well.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to pay a financial subsidy of Rupees 25,000/- per hectare and for a maximum of 02 hectares per farmer for paddy cultivation and to pay Rupees 15,000/- per hectare for field crops cultivated in paddy lands[maximum of 02 hectares per farmer]
News
Ministerial Committee appointed to submit recommendations on proposed program to mitigate loss of crops to wild animals
The rural agricultural livelihood and food security have been severely impacted due to the damage caused by wild animals such as elephants, wild boars, monkeys, toque macaque, squirrels, and peacocks roaming around human habitats and cultivated lands.
Animal-human conflicts and property destruction have mostly been reported around these areas, and serious social and economic issues have also arisen.
Therefore, the Ministry of Agriculture, Livestock, Land, and Irrigation has prepared a comprehensive program based on the opinions of all stakeholders, including the public, university community, farmers’ organizations, environmentalists, non-governmental organizations which work for environmental issues, the Department of Agriculture, the Department of Agrarian Development, and other relevant organizations.
Taking into consideration the report submitted by the Minister of Agriculture, Livestock, Land, and Irrigation, the Cabinet of Ministers has decided to appoint a ministerial committee with the participation of other relevant ministers, chaired by the Minister of Agriculture, Livestock, Land, and Irrigation, to submit appropriate recommendations on how the aforementioned program should be implemented by further reviewing the proposals included in the said program and incorporating new proposals.
Cabinet nod to accept Japanese government grant of 08 used low floorboard buses
Payment of the financial subsidy for fertilizer to farmers cultivating paddy lands for the Yala season 2026.
Ministerial Committee appointed to submit recommendations on proposed program to mitigate loss of crops to wild animals
New Zealand elect to bowl first at Eden Gardens
Cabinet approves import of Maize to meet shortfall
Cabinet nod for the removal of Cess tax imposed on imported good
‘Dates have the highest sugar content to fight Coronavirus’
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