News
Cabraal asks Sajith why they were silent when Rs 10 bn was released to PTL in 10 minutes
…nothing wrong with Rs 3.1 bn loan to D.S.Gunasekera
By Saman Indrajith
State Minister of Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament yesterday that there was nothing wrong in the Bank of Ceylon releasing a Rs 3.1 billion loan facility to D.S. Gunasekera Company.
“The BoC has adhered to its procedures and followed all accepted methods in releasing that loan. Nothing wrong has happened in that transaction,” said Minister Cabraal, responding to a series of questions raised by Opposition Leader Sajith Premadasa on the loan facility. “However, when 10 billion rupees was released in 10 minutes from the same bank to the Perpetual Treasuries in 2015 by a government in which you were a Cabinet minister, all of you kept silent. You should have raised questions then.”
Minister Cabraal said that the D.S. Gunasekera Company was operating in the North Central, Eastern, Central and the Southern Provinces. The company had its accounts at the Katuwana Branch of the BoC since 2015. The company had been a customer of the BoC for 62 years since 1958. As per the audit reports of recent years, the company has shown an income increasing by 10 billion rupees in the years of 2017, 2018 and 2019. The BoC has released the loan facility of Rs 3.1 billion considering the long standing relationship between the bank and the company and the latter’s financial feasibility. The bank had followed all accepted guidelines and procedures in releasing a pledge loan. The company used a sum of Rs 2.1 billion for stockpiling. In releasing the loan the bank had kept the stockpile as a pledge and it has been released in installments as the company settled their loan in installments.
Opposition leader Premadasa made a special statement alleging that the company named D.S. Gunasekara (Pvt.) Ltd. had obtained a sum of Rs. 3.1 billion from the BoC Katuwana branch as a pledge loan.
News
Establishment of an Institutional Framework to Inagurate Upper Hydro Catchment Areas Management Authority
Policy approval of the Cabinet of Ministers was granted at their meeting held on 08.06.2026 to establish the Upper Hydro Catchment Areas Management Authority for identification and
execution of a formal and long – lasting remedy to secure the central hills including the upper hydro catchment areas enabling them to sustain amidst extreme weather conditions
due to natural calamities and human activities as well as to be used for the sustainable development of the country.
Accordingly, a concept paper has been prepared including
institutional structure, activities, powers, active subject area as well as administrative and coordination mechanism for the proposed authority by an expert technical committee appointed by the Secretary to the President.
Based on the said concept paper, the Cabinet of Ministers granted approval to the resolution furnished by the President to instruct the Legal Draftsman to prepare a draft bill including legal provisions required for the establishment of Upper Hydro Catchment Areas Management Authority.
News
Introduction of Flora and Fauna (Regulation of actions of the Indigenous Community within the nominated areas) Regulations
With the objective of securing the traditional livelihood and the eco system of the indigenous community, it has been recognized the necessity of introducing a formal regulation methodology to secure their engagement in livelihood activities by being more sensitive to the existing laws.
Thereby, the Fauna and Flora (regularizing) regulations under the Fauna and Flora Protection Ordinance (Authority 469) have been prepared so that nominated activities within the prescribed area to a member of the indigenous community
who has been registered for securing the rights acquired from law or custom or usage or traditional stance to execute an act within a certain state land that is fundamental to the survival of the indigenous community permission can be granted
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Environment to publish the said regulations in the government gazette notification and thereby submit to the Parliament for its concurrence.
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M. M. D. J. Senarathne, appointed Director General of the Department of National Botanical Gardens
The Cabinet of Ministers approved the resolution furnished by the Minister of Environment to appoint M. M. D. J. Senarathne, who is the senior most officer in Grade I of Sri Lanka Scientific Service se
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Introduction of Flora and Fauna (Regulation of actions of the Indigenous Community within the nominated areas) Regulations
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