Latest News
Cabinet approves liquidation of Sahasya Investment Company
Approval was granted by the Cabinet of Ministers at the cabinet meeting held on 12-10-2020 for the establishment of Sahasya Investment Company, with the objective of maintaining highways, determining strategic methods for further development of these expressways, and utilizing modern technologies for the minimization of costs.
Accordingly, approval was granted by the Cabinet of Ministers at the cabinet meeting held on 25-03-2024 for the formal assignment of daily operations and management of the
expressways to Sahasya Investment Company. However, Sahasya Investment Company has not implemented the relevant operations so far, and no activities relevant to the objectives of this company have been performed since its inception. The Road Development Authority has been assigned tasks such as planning, creation, construction, and maintenance of national roads and expressways by the Road Development Authority Act No. 73 of 1981.
Since the technological expertise necessary for the management of these assets, institutional capacity, and the vision for long-term asset management have been possessed by the aforementioned Authority, it has been recognized that the transfer of ownership and regulation of these assets to the Sahasya Investment Company by the Road Development Authority would exceed the legal authority provided to the Road Development Authority.
Therefore, taking these matters into account , the Cabinet of Ministers has approved the joint proposal presented jointly by the President , in his capacity as the Minister of Finance, Planning, and Economic Development, and the Minister of Transport, Highways, and Urban Development, to liquidate the Sahasya Investment Company and to manage the network of expressways, associated lands, and other relevant activities through a separate operational unit under the Road Development Authority.
The Cabinet of Ministers granted their concurrence to the resolution furnished by the Minister of Youth Affairs to appoint S. Achchudan of Special Grade of Sri Lanka Administrative Service, who is currently serving as an Additional Commissioner of Elections at the Elections Commission who is
recommended by the panel of interviewers to the post of Director General of the Sports Development Department with effect form 01.01.2026.
The Cabinet of Ministers granted approval to the proposal furnished by the Minister of Environment to publish the draft bill of the National Environment (Amended) Act in the government gazette notification and subsequently to submit the same to the Parliament for its concurrence.
Latest News
Cabinet nod to establish the Sri Lanka Industrial Transformation and innovation Authority
Approval was granted by the Cabinet of Ministers at the cabinet meeting held on 17-03-2025 to establish a single, more effective institution by merging the Industrial Development Board, the National Entrepreneurship Development Authority and Small Business development Division under the Ministry of Industry and Entrepreneurship Development to provide industrial and enterpriser development services in a more organized and efficient manner.
Accordingly, the Ministry of Industry and Entrepreneurship
Development has initiated the establishment of the Sri Lankan Industrial Transformation and Innovation Authority with the objective of minimizing duplication of work, strengthening the provision of institutional services, and building a national integrated platform for industrial and transformation, entrepreneurship promotion and export-oriented enterprise development under a three phase framework of conceptualization, strategic planning and implementation.
Action is being taken at present to obtain the necessary technological assistance under the Policy based loan program of the Asian Development Bank.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Industries and Entrepreneurship Development to take further action according to the proposed draft concept framework regarding the ‘the Sri Lanka Industrial Transformation and innovation Authority.
S. Achchudan appointed as Director General of the Sports Development Department.
Amendment of the National Environment Act No. 47 of 1980
Tax relief for Dates received as donations or gifts for Ramadan
Cabinet nod to establish the Sri Lanka Industrial Transformation and innovation Authority
Temporary employment of Sri Lankan labour in the State of Israel
Cabinet approves liquidation of Sahasya Investment Company
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News6 days agoBritish MP calls on Foreign Secretary to expand sanction package against ‘Sri Lankan war criminals’
-
News5 days agoStreet vendors banned from Kandy City
-
Sports6 days agoChief selector’s remarks disappointing says Mickey Arthur
-
Opinion6 days agoDisasters do not destroy nations; the refusal to change does
-
News7 days agoSri Lanka’s coastline faces unfolding catastrophe: Expert
-
News5 days agoLankan aircrew fly daring UN Medevac in hostile conditions in Africa
-
Midweek Review7 days agoYear ends with the NPP govt. on the back foot
-
Sports7 days agoLife after the armband for Asalanka