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Govt. says selling state assets only way to build reserves and prevent crippling shortages

Published

3 years ago

2022/12/7

By Rathindra Kuruwita

Cabinet spokesman Minister Bandula Gunawardena yesterday (06) said Sri Lanka wouldn’t be in a position to be part of the international trading system unless it boosted its foreign reserves by selling some of its assets. Gunawardena, who also holds media and transport portfolios said so at yesterday’s post-Cabinet press briefing.

Responding to a query about the government’s decision to divest vital national assets, the Minister said that if Sri Lanka did not shore up its reserves to the tune of over three billion dollars, international companies would not accept the letters of credit given by Sri Lankan banks.

President Ranil Wickremesinghe, in his capacity as the Finance Minister, has proposed privatising of several state enterprises including Sri Lanka Insurance and Sri Lanka Telecom.

“Former President Chandrika Bandaranaike Kumaratunga sold a number of state owned enterprises. If we don’t increase our reserves, to over three billion USD soon, we will have problems importing fuel, and other essential items. Last week, Fitch again reduced our rating. No matter who governs Sri Lanka, they will all face the same problem. We need to build our reserves,” the Minister said.

Minister Gunawardane said that the need of the hour was to sell some assets and boost Sri Lanka’s reserves.

“China, India, Vietnam, and Malaysia are attracting a lot of investors. Only we have failed to do so, and we need to think why this is. Even our entrepreneurs are leaving for other countries. We need to change the way we think, if we want to attract investors to Sri Lanka,” he said.

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Pakistan High Commissioner pays courtsey call on PM

Published

5 hours ago

2026/05/2

Priyan

High Commissioner of the Islamic Republic of Pakistan to Sri Lanka Major General (Retd) Nayyar Naseer met with the Prime Minister Dr. Harini Amarasuriya at Temple Trees on 30th April

Welcoming the High Commissioner of the Islamic Republic of Pakistan to Sri Lanka, the Prime Minister expressed sincere appreciation for the continued support and cooperation extended by the Government of Pakistan to Sri Lanka, particularly the assistance provided following the Ditwah Cyclone.

Both sides reaffirmed the longstanding and cordial relations between Sri Lanka and Pakistan, which are founded on mutual respect, friendship, and shared interests.

The meeting also focused on the importance of further strengthening collaboration in key sectors such as education, tourism, and sports, with a view to enhancing people-to-people ties and creating new opportunities for cooperation reiterating Sri Lanka’s commitment to deepening bilateral engagement.

The meeting was attended by the Deputy High Commissioner of Pakistan to Sri Lanka Ms. Zunaira Latif, Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.

(Prime Minister’s Media Division)

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Ambassador of Nepal to Sri Lanka pays farewll call on PM

Published

5 hours ago

2026/05/2

Priyan

The Ambassador of Nepal to SriLanka, Dr. Purna Bahadurn Nepali paid a farewell courtesy call on Prime Minister Dr. Harini Amarasuriya on Thursday (30th of April) at Temple Trees.

During the meeting, the Prime Minister conveyed sincere appreciation for the dedicated service and valuable contributions towards strengthening the longstanding bilateral relations between Sri Lanka and Nepal during the tenure of Dr. Purna Bahadurn Nepali.

Both parties reaffirmed the longstanding bilateral relations between the two countries, which are based on shared cultural, religious, and historical linkages. The Prime Minister also reaffirmed Sri Lanka’s commitment to further deepening bilateral relations with Nepal and enhancing cooperation for the mutual benefit of both nations.

The meeting was attended by the Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.

(Prime Minister’s Media Division)

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Heat Index at Caution Level in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time

Published

5 hours ago

2026/05/2

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 01 May 2026, valid for 02 May 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on the human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.