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Cabinet approves liquidation of Sahasya Investment Company

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4 months ago

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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.


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Warm welcome extended to the President of the Socialist Republic of Vietnam at the Presidential Secretariat

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8 hours ago

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2026/05/8

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The official welcoming ceremony for the President of the Socialist Republic of Vietnam and General Secretary of the Central Committee of the Communist Party of Vietnam,  To Lam, who is on a State visit to Sri Lanka at the invitation of President Anura Kumara Dissanayake, was held this morning (08th May 2026) at the Presidential Secretariat under the patronage of President Dissanayake.

President To Lam is undertaking this State visit with the aim of further strengthening the economic, cultural and social ties between Vietnam and Sri Lanka.

Upon his arrival at the Presidential Secretariat, escorted by the Police Mounted Division, President To Lam was warmly received by President Anura Kumara Dissanayake.

Following the playing of the national anthems of both countries, the official welcoming ceremony for President To Lam formally commenced.

On the occasion, President To Lam was accorded a ceremonial gun salute with full State honours.

Thereafter, President To Lam and President Anura Kumara Dissanayake reviewed the Tri-Forces Guard of Honour, following which the Vietnamese and Sri Lankan delegations were introduced.

The two leaders also posed for official photographs.

Representing the Government of Sri Lanka at the occasion were Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath, Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando, Minister of Science and Technology Professor Krishantha Abeysena, Minister of Buddhasasana, Religious and Cultural Affairs Dr Hiniduma Sunil Senevi, Minister of Environment Dr Dhammika Patabendi, Minister of Public Security and Parliamentary Affairs Ananda Wijepala, Secretary to the President Dr Nandika Sanath Kumanayake, Secretary to the Ministry of Defence Air Vice Marshal Sampath Thuyacontha (Retired), Secretary to the Ministry of Foreign Affairs Aruni Ranaraja, along with a number of senior officials from both countries.

(PMD)

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BCCI to conduct surprise checks on IPL teams over compliance of guidelines

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8 hours ago

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2026/05/8

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The BCCI has said it will conduct periodic checks on the IPL teams to assess the adherence of the new set of guidelines [BCCI]
The Board of Control for Cricket in India (BCCI) has said it will conduct periodic checks on the IPL teams to assess the adherence of the new set of guidelines issued to the team on Thursday evening. The surprise checks will be undertaken by BCCI/IPL operation teams.

BCCI secretary Devajit Saikia, in his communication to the franchises, has noted that, “The BCCI / IPL Operations Team may conduct periodic checks to assess adherence to the directives set forth in this Advisory. Team Managers are required to maintain records of all approved guest visits and hotel movements.

“Any breach of the aforementioned directives must be self-reported to the IPL Operations Team or the relevant IPL Venue Team at the earliest opportunity. The BCCI trusts that all IPL franchises will treat this Advisory with the seriousness it warrants and take all necessary steps to uphold the integrity and reputation of the Indian Premier League.”

Consequences of non-compliance

Saikia has also warned teams about the consequences of non-compliance with the guidelines, stating that any violations will be treated as a serious disciplinary matter, while also outlining the possible action that could be taken against those found breaching the code.

Saikia wrote: “The BCCI and the IPL Governing Council wish to make unequivocally clear that any breach of the directives set out in this Advisory shall be treated as a serious disciplinary matter. Non-compliance shall expose the relevant IPL franchise and the individual concerned to proceedings under the applicable provisions of the IPL Regulations, the BCCI Rules & Regulations, and other applicable statutes, as the circumstances may warrant.

“Without prejudice to the generality of the foregoing, the following consequences may be imposed at the sole discretion of the BCCI / IPL Governing Council:

1. Show-Cause Notice:Issuance of a formal show-cause notice to the Franchise and/or the individual concerned.

2. Financial Penalties:Imposition of financial penalties on the Franchise or individual, as prescribed under the IPL Regulations.

3. Suspension or disqualification: Suspension or disqualification of the player, support staff member, or team official from the ongoing or subsequent IPL season(s).

4. For Legal Violations: In cases involving legal violations, including use of prohibited substances, breach of security protocol, or conduct amounting to harassment, referral of the matter to the appropriate law enforcement authorities.

5. Other Action: Any other action as the BCCI / IPL Governing Council may deem appropriate in the interest of the tournament and the sport.

“Franchises are strongly advised to take cognisance of this Advisory and take all necessary steps to ensure full compliance. The BCCI reserves the right to conduct periodic audits and inspections to ascertain adherence to these directives,” the Saikia’s signed seven-page note said.

 

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President of the Socialist Republic of Vietnam arrives in Sri Lanka on State Visit

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12 hours ago

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2026/05/8

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President To Lam, President of the Socialist Republic of Vietnam,  General Secretary of the Central Committee of the Communist Party of Vietnam, accompanied by a delegation of 209 members arrived in Sri Lanka on Thursday (07) night on a state visit.

 

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