News
Chinese loans: Debt restructuring to commence in earnest after 20th National Congress of CPC

‘Previous govt. printed money excessively’
By Saman Indrajith
The government would start discussions on debt restructuring with China in earnest after the 20th National Congress of the Chinese Communist Party that starts on 16 October, President Ranil Wickremesinghe said yesterday in Parliament.The President added that preliminary discussions with China had already begun. “Japan has agreed to help us negotiate with China. This is a very positive development. China has helped us in times of difficulty in the past. We believe that they will help us in this time of need as well,” he said.
President Wickremesinghe said the government was also holding discussions with India. He had the opportunity to explain the current Sri Lankan situation to Prime Minister Narendra Modi recently.
“Prime Minister Modi has always supported us. During the recent crisis, they helped us greatly. India will help us during the coming revitalisation process,” President Wickremesinghe said.The President said that he had met a large number of Finance Ministers while he was in Manila at the ADB conference. Given that Finance Ministers play a big role in allocating assistance and restructuring debt, it had been a great opportunity to state the case for Sri Lanka, he said.
“We expect to come to a common agreement with our creditors including Japan, India and China.
“Once we reach an agreement with bilateral creditors, we will hold discussions with the London Club, an informal group of private creditors on the international stage. We also wish to come to an agreement o debt restructuring. Once we come to an agreement with bilateral and private creditors, we can get an IMF facility.”
Wickremesinghe said that the ADB had already pledged 500 million dollars to Sri Lanka and once the agreement with the IMF is signed, Sri Lanka could secure bridging finance.
“Given our situation, we can’t obtain commercial loans from the World bank or other lending agencies. Joining hands with the Global Development Conference, we have asked for an opportunity to obtain concessional financial aid,” he said.
The President added that the government was trying to boost tourism, which could bring in much needed remittances in the short term. He added that in the past two years, the previous government hsf printed too much money.
“The previous government printed 13 times more than the 2015-19 government did. However, production did not increase. This was a recipe for inflation. Because of the steps we took, we managed to keep the inflation under 70 percent in September. By the end of the second quarter of 2022, the Ceylon Petroleum Corporation (CPC) has incurred a loss of 1,057 billion, Ceylon Electricity Board (CEB) 251 billion and SriLankan airlines has accumulated 791 million in losses. We can’t make people bear this burden. We will restructure them.”
News
Presidential secretariat launches initiative to install sanitation facilities at fuel stations under “Clean Sri Lanka”

In a landmark move to promote public hygiene and accessibility, the Government on Wednesday (14) launched a national-level initiative to install modern sanitation facilities at fuel stations across the country under the “Clean Sri Lanka” programme.
The official launch was held at the Presidential Secretariat, with the participation of top government officials and key industry stakeholders.
The initiative aims to transform fuel stations into clean, safe and inclusive spaces by providing essential sanitation infrastructure accessible to all segments of the public, particularly women, children, the elderly and people with disabilities.
An MoU was signed between the Presidential Task Force on Clean Sri Lanka, the Ministry of Energy and the island’s four major fuel providers: Ceylon Petroleum Corporation (CPC), Lanka IOC PLC (LIOC), Sinopec Energy Lanka (Pvt) Ltd and RM Parks (Pvt) Ltd.
Under the three-year programme, 540 modern public sanitation facilities will be established at selected fuel stations islandwide. The timeline for rollout is as follows:
Company | 2025 | 2026 | 2027 |
---|---|---|---|
CPC | 25 | 50 | 50 |
LIOC | 25 | 50 | 40 |
Sinopec | 25 | 50 | 75 |
RM Parks | 25 | 50 | 75 |
Total | 100 | 200 | 240 |
By the end of 2025, at least 100 of these facilities are expected to be operational, providing clean and user-friendly amenities to travellers across the country.
Speaking at the event, Secretary to the President Dr Nandika Sanath Kumanayake stated, “This is not just a policy commitment but a promise to build a healthier, cleaner and more dignified Sri Lanka. The Clean Sri Lanka initiative seeks to deliver long-term public services that meet modern hygiene standards.” He also highlighted that this partnership between the public and private sectors sets an example for delivering effective and sustainable services. Plans are in place to encourage further participation from large-scale private sector entities, such as retail chains, to extend the reach and impact of the programme.
The event was attended by Secretary to the Ministry of Energy, Prof. Udayanga Hemapala; Senior Additional Secretary to the President, Russell Aponsu; senior executives from the four fuel providers; and officials from the Clean Sri Lanka Presidential Task Force.
News
Financial assistance from the President’s Fund for next of kin of victims of the Kotmale bus accident disbursed through Divisional Secretariats

On the instructions of President Anura Kumara Disanayake, the funds allocated from the President’s Fund for those who lost their lives in the recent bus accident in the Garandiella area, Kotmale have now been forwarded to the relevant Divisional Secretariats.
Accordingly, a sum of Rs. 1 million will be provided to the next of kin of each individual whose life was lost in the accident, and the funds will be handed over to their respective family members.
These funds have been released to the Divisional Secretariats of the following areas—Tissamaharama, Lunugamvehera, Welimada, Haldummulla, Ella, Kundasale, Bamunakotuwa, Paduwasnuwara West, Polpithigama, Wanathawilluwa, Chilaw, Buttala, Thanamalwila, Wellawaya, Kanthale and Rambewa where the 22 individuals who lost their lives in the accident were residents.
News
USD 6.9 mn loss due to fertiliser imports: Mahindananda seeks anticipatory bail

Shasheendra, too, is to be questioned soon
Former Agriculture Minister Mahindananda Aluthgamage has filed an anticipatory bail application in the Fort Magistrate’s court in a bid to prevent the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) from taking him into custody in connection with the ongoing investigation into the importation of a stock of allegedly substandard organic fertiliser from China during Gotabaya Rajapaksa’s presidency.
Colombo Chief Magistrate Thanuja Lakmali has asked the CIABOCt to present its position regarding the issue at hand to the court on May 19.
The CIABOC has asserted that the transaction caused Sri Lanka a loss of USD 6.9 mn.
The CIABOC arrested former Additional Secretary (Development) to the State Ministry of Agriculture, Mahesh Gammanpila on April 28, 2025, over his role in the deal with China’s Qingdao Seawin Biotech in 2021.
At the time Mahesh Gammanpila served as the Secretary to the State Ministry of Agriculture, Shasheendra Rajapaksa had been its Minister. Gammanpila is the current Chief Secretary of the Uva Provincial Council.
Aluthgamage had been the Cabinet Minister at the time the government finalised the questionable deal with the Chinese company.
CIABOC, on May 5, told court that the investigations were continuing and the ministers who decided on the importation of fertiliser from China, too, would be arrested and produced in court.
According to the CIABOC website, Mahesh Gammanpila has caused approximately USD 6.9 million loss to the government by issuing orders to open the suspended Letters of Credit to import the substandard organic fertiliser consignment from Qingdao Seawin Biotech, China, in 2021.
Although Fort Magistrate granted bail to Gammanpila on May 5, he continued to be in remand as he couldn’t meet the bail conditions. The court has also imposed a travel ban on him. (SF)
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