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HC Moragoda meets FICCI President to woo Indian investments

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Sri Lanka’s High Commissioner to India, Milinda Moragoda, at the meeting with Federation of Indian Chambers of Commerce and Industry (FICCI) President Subhrakant Panda (second from left). FICCI Secretary General Sallesh Pathak and FICCI Assistant Secretary General Dr. Gunveena Chadda are present, too 

Continuing his discussions with senior Indian private sector figures, Sri Lanka’s High Commissioner to India Milinda Moragoda held a meeting in New Delhi with the Federation of Indian Chambers of Commerce and Industry (FICCI) President Subhrakant Panda.

Panda, who is also the Managing Director of Indian Metals & Ferro Alloys Ltd. (IMFA), India’s foremost fully integrated producer of value-added ferro chrome, engaged in fruitful discussions with High Commissioner Moragoda.

Panda and the High Commissioner of Sri Lanka discussed a range of issues pertaining to possible cooperation between FICCI, Trade Chambers in Sri Lanka and the Sri Lanka High Commission. The High Commissioner provided Panda with an update on the assistance provided by the Indian Government during the economic crisis. Moreover, he underscored Sri Lanka’s current state of readiness to embrace large-scale investment from India. Panda shared valuable insights into FICCI’s rich history, spanning 96 years, highlighting its vast network that encompasses not only India’s largest companies but also small and medium-sized enterprises (SMEs).

Both parties recognised the significance of targeted sector-specific investments, aiming for greater integration with the Indian economy. It was agreed to engage with Sri Lankan trade chambers and the High Commission to take this initiative further.

FICCI Secretary General Sallesh Pathak and FICCI Assistant Secretary General Dr. Gunveena Chadda were present at the meeting. The High Commissioner was accompanied by Minister Counsellor Sarath Godankanda, and First Secretary (Commercial) Geshan Dissanayake.



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Rs 1. 3 bn yahapalana building deal under investigation

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Jayasinghe building

Several ex-Cabinet ministers questioned; Ranil, Sajith, too likely to be summoned

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has initiated an inquiry into the shifting of the Agriculture Ministry situated at Rajamalwatte, to a building belonging to the D. P. Jayasinghe Group of Companies, at Rajagiriya, during the Yahapalana government.

The building was rented for a five-year period at a cost of over Rs 1 bn by the yahapalana government within months after the then President Maithripala Sirisena declared opened the 10-storey building complex.

The CIABOC yesterday morning recorded former yahapalana minister Gayantha Karunatilleke’s statement in connection with the investigation. Later in the day, CIABOC recorded the statement of SJB General Secretary Ranjith Maddumabanadara. Earlier CIABOC summoned former ministers Thalatha Atukorale, Wajira Abeywardena and Lakshman Kiriella. At the time of the finalisation of the deal, KIriella was in the UNP.

Sources said that former PM and President Ranil Wickremesinghe, too, was likely to be questioned in this regard. Responding to The Island queries, sources pointed out even SJB leader Sajith Premadasa was expected to be questioned.

The then Speaker Karu Jayasuriya is on record as having said that the building was rented in keeping with a decision taken by the government and not Parliament.

The UNP-SLFP coalition shifted the Agriculture Ministry to accommodate 16 Sectoral Oversight Committees therein.

Although the government paid as much as Rs. 21.5 mn monthly rent to D.P.A. Jayasinghe Company, the Agriculture Ministry failed to move in for over a year. The then Agriculture Minister Duminda Dissanayake sought Cabinet approval on Dec 1, 2015 to rent the building.

According to inquiries conducted earlier by the Presidential Commission appointed to probe state sector corruption, the Agriculture Ministry sought Cabinet approval for a new building after the then Prime Minister Wickremesinghe submitted a cabinet proposal on 21 September, 2015, to use the Agriculture Ministry building for Parliament’s sectoral oversight committees.

PM Wickremesinghe’s Secretary Saman Ekanayake has told the Commission that public funds could have been saved if the several vacant floors of Suhurupaya belonging to the Defence Ministry had been made available to the Agriculture Ministry.

By Shamindra Ferdinando ✍️

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SL Railways suffers staggering losses; more than 2/3 of rail tracks out of service

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Army personnel engaged in repairing damaged railway tracks in the Boo Oya area. Cyclone Ditwah caused extensive damage to railway tracks in several parts of the country (pic courtesy Army)

Railway sources said that the damages caused to railway tracks could be more than USD 300 mn.

According to UNDP Rapid Crisis Assessment Sri Lanka’s railroad system, over 278 km of railways were exposed to cyclone-related flooding, including 35 railroad bridges nationwide. This figure reflects flooding only, but other hazards (such as localised debris, landslides, or damage to a single bridge) can also disrupt operations, meaning that even relatively small obstructions can render long stretches of railway non-operational. Like road exposure, railway exposure limits mobility and the capacity of affected populations to access key services and infrastructure.

At the level of divisional secretariats, Colombo and Thimbirigasyaya in Colombo District, Ja Ela in Gampaha District, as well as Mannar Town and Nanaddan in Mannar District all registered over 10 km of exposed railways each.

Commissioner-General of Essential Services B.K. Prabath Chandrakeerthi is on record as having said that only 478 kilometers of Sri Lanka’s 1,593-km railway network were currently usable following extensive damage caused by the recent cyclone.

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US, SL advancing free, open, and resilient Indo-Pacific region: Embassy

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Allison Hooker

Under Secretary of State for Political Affairs Allison Hooker arrived in Colombo yesterday (11) to underscore US interest in defence, trade and maritime security in line with their Indo-Pacific strategy.

The US embassy here issued the following statement: “Under Secretary Hooker will meet with Sri Lankan counterparts to discuss a wide range of bilateral issues, focused on deepening economic and commercial ties, strengthening defence cooperation, and supporting Sri Lanka’s economic and maritime sovereignty.

The United States and Sri Lanka share a strong and enduring partnership rooted in our mutual commitment to regional security, economic growth, and prosperity for our peoples. Through close cooperation on defence, trade, and maritime security, we are working together to advance a free, open, and resilient Indo-Pacific region.

As we continue to build on our strategic partnership, the United States also stands with the people of Sri Lanka as they respond to the devastating impacts of Cyclone Ditwah. We remain committed to working together to address both immediate challenges and long-term opportunities for our two nations, reflecting our ongoing commitment to the U.S.-Sri Lanka partnership.”

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