News
Govt allocates 600 acres near Kothmale reservoir for climate change university
By Apsara Rodrigo
ECONOMYNEXT –Sri Lanka’s economic model would be built on competitiveness, digital transition, energy transition and the transformation to a green economy, President Ranil Wickremesinghe said.
The country plans to establish an International Climate Change University (ICCU) for which the government has allocated 600 acres overlooking the Kothmale reservoir.The ICCU would be an international stakeholder university rather than a solely Sri Lankan institution, the president said at the first International Climate Change Forum held at Temple Trees Thursday (2).
“The country’s small size could be advantageous, given its potential for excess green energy, including solar, wind power and hydrogen,” Ranil Wickremesinghe was quoted as saying in a statement by the president’s media office.
“However, Sri Lanka currently lacks the expertise to formulate detailed plans for this transition. To address this, the country is reaching out to multilateral development banks and bilateral partners to obtain the necessary knowledge and support.”
Wickremesinghe outlined the country’s plans for environmental sustainability and economic growth.
Sri Lanka intends to present a climate prosperity plan at the upcoming COP 28, Wickremesinghe said, with the goal of reaching net zero emissions by 2040.The president stressed the need for the global south, including Sri Lanka, to develop expertise in climate finance, debt relief and related economic issues.
Wickremesinghe also discussed the signing of the Agreement of Cooperation on Climate Change when he met President Yoon Suk Yeol of the Republic of Korea last month.
News
INS GHARIAL makes port call in Colombo
The Indian Naval Ship (INS) GHARIAL made a port call in Colombo for operational turnarounds on 04 Feb 26. The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
Commanded by Commander Gaurav Tewari, INS GHARIAL is a vessel with a length of 124.8 meters.
During this visit, ten (10) Bailey Bridges, brought by ship, through the coordination of the High Commission of India in Sri Lanka, will be handed over to the Disaster Management Center. These bridges will provide temporary transportation links while bridges damaged across the island by adverse weather conditions are repaired.
The crew’s itinerary features scheduled goodwill activities with the Sri Lanka Navy, alongside visits to several tourist attractions across the island.
News
Speaker’s personal secretary accused of interference with ongoing bribery investigation
SJB Gampaha District MP Harshana Rajakaruna yesterday told Parliament that the Speaker’s Personal Secretary had written to the Secretary-General of Parliament seeking information on a complaint lodged with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) by a former Deputy Secretary of Parliament against the Speaker. Rajakaruna called for an immediate investigation into what he described as interference with an ongoing probe.
Raising the matter in the House, Rajakaruna said he had formally requested the Commission to initiate an inquiry into the conduct of the Speaker’s Personal Secretary, Chameera Gallage, questioning the authority under which such information had been sought.
Rajapakaruna tabled in Parliament a copy of the letter allegedly sent by Gallage to the Secretary-General requesting details of the bribery complaint.
Addressing the House, Rajakaruna said that the letter, sent two days earlier, had sought “full details” of the complaint against the Speaker. He maintained that seeking such information amounted to interference with an investigation and constituted a serious offence under the Bribery Act.
“The Speaker’s Secretary has no right to interfere with the work of the Bribery Commission. Under what law is he acting? What authority does he have? The Speaker, like everyone else, is subject to the law of the land,” Rajakaruna said, urging the Commission to take immediate action.
He noted that the Bribery Act treated the obstruction of investigations and the destruction of documents relating to such inquiries as serious offences punishable by law, and said he believed the Minister of Justice would concur.
The allegations sparked sharp reactions in the Chamber, as Opposition members called for accountability and due process in relation to the complaint against the Speaker.
By Saman Indrajith
News
Govt: Average power generation cost reduced from Rs. 37 to Rs. 29
The Ceylon Electricity Board has managed to reduce the average cost of electricity generation from Rs. 37 per unit to Rs. 29, marking a 22 percent reduction, Minister of Power and Energy Eng. Kumara Jayakody told Parliament yesterday.
Responding to an oral question raised by Opposition MP Ravi Karunanayake, the Minister said that electricity tariffs cannot be reduced unless the cost of generation is brought down.
“You cannot reduce electricity tariffs without reducing the cost of generation. What we are currently doing is buying at a higher price and selling at a lower price. When we assumed office, the cost of purchasing and generating electricity was Rs. 37 per unit. We have now managed to bring it down to Rs. 29, a reduction of 22 percent.
Our target is to further reduce this to Rs. 25. Once that is achieved, we will reduce electricity tariffs by 30 percent within three years, as we promised,” Minister Jayakody said.
He added that the government has already formulated a long-term generation plan to further expand the country’s power generation capacity.
According to the Minister, key measures include increasing the absorption of renewable energy into the national grid, expanding the national transmission and distribution network, introducing renewable energy storage systems, and constructing thermal and liquefied natural gas (LNG) power plants to replace aging facilities and meet future demand.
He also said that steps would be taken to enhance the capacity of existing hydropower plants as part of the broader strategy to ensure energy security and reduce long-term electricity costs.
By Ifham Nizam
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