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Indian CEO Forum welcomes Lanka’s High Commissioner designate to India, Milinda Moragoda’s comprehensive road map

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Milinda Moragoda being welcomed by ICF President Umesh Gautam. Also present (from left) S Prakash, Manoj Gupta, Mayank Arora and Kishore Reddy - Board Members ICF

The Indian CEO Forum (ICF) has welcomed Lanka’s High Commissioner designate to India, Milinda Moragoda’s comprehensive road map for the next two years, through the Integrated Country Strategy, strongly based on the teachings of the Buddha such as ‘having faith or trust’ and ‘full realisation thorough understanding’ which was noted as principles that should underpin the foundations of diplomacy and support in building trust and confidence between India and Sri Lanka, an ICF press release said.

It said: Moragoda, Designate High Commissioner of Sri Lanka to India, met with the (ICF) on Aug 3 for an initial discussion on India-Sri Lanka ties.

The ICF is the preeminent body for Indian investment in Sri Lanka, representing some of the country’s oldest and largest foreign direct investments and Indian professionals heading large companies marking a significant contribution to the local economy. The dialogue marked a special occasion as the High Commissioner shared The Integrated Country Strategy for Diplomatic Missions in India 2021/2023 with the ICF. At the meeting, also present were V.K. Vethody, Designate Consul General of Sri Lankan Mission at Mumbai, Ambassador Bernard Goonetilleke – Former diplomat and Chairman Pathfinder Foundation and K. Balasundaram – Director/CEO MMBL-Pathfinder.

The ICF specifically commended Moragoda on Mission Goal 2 in the strategy which focused on ‘Bolstering foreign investments as well as earnings from exports and to achieve significant export growth and increase foreign exchange earnings, with the ultimate objective of increasing productivity, employment generation and international competitiveness to uplift the living standards of the people in Sri Lanka, with a view to achieving the macro-economic targets set out for the period 2020- 2025, in the Government Policy framework document, “Vistas of Prosperity and Splendour”.

The ICF stands as a key partner to support in achieving specific mission objectives set out in under Mission Goal 2 to Increase Indian investments in Sri Lanka, facilitate ongoing large-scale economic development and investment-driven projects and Increase exports from Sri Lanka and expand Sri Lanka’s market share in India. India is among the top five overall investors in Sri Lanka and stands as an important trading partner to the country. Accordingly, The ICF appreciated the opportunity provided by Moragoda to engage in fruitful discussion with Indian business partners, with a focus on strengthening business ties and to explore opportunities for collaboration, at a time when economic recovery has become a key priority for Sri Lanka following the detrimental effects of the COVID-19 pandemic.

Umesh Gautam, President ICF, remarked that several members of ICF have been in Sri Lanka for decades and are running successful businesses here, and they can act as beacons to attract more prospective investors to this country. The ICF stands as a key partner to support in bolstering Sri Lankan Interests and in facilitating foreign investments into Sri Lanka.

Moragoda also engaged with members of the Forum through a video link specially set up for this occasion. He presented his thoughts and answered questions on how to remove roadblocks and create an environment of investor friendly approach. He was keen to play a role in collaborating and helping the investors in finding solutions.



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PSTA worse than PTA: FSP

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The Frontline Socialist Party (FSP) yesterday accused the government of seeking to use the proposed Protection of the State from Terrorism Act (PSTA) to suppress popular political activity, claiming that some of its provisions were more repressive than those of the Prevention of Terrorism Act (PTA).

FSP Education Secretary Pubudu Jayagoda told a media briefing, in Nugegoda, that the definition of terrorism in the Bill was so broad that it could be used to label almost any form of popular political activity as terrorism.

He said the Bill’s approach to defining terrorism was based largely on attempts to compel a government, or an international organisation, to do, or refrain from doing something, rather than on internationally recognised criteria, such as killings, causing serious bodily harm, kidnapping or acts intended to spread terror among the public.

Jayagoda also alleged that the Bill transferred substantial powers from the judiciary to the executive, while extending powers of arrest, investigation and detention to the armed forces, in addition to the police.

He claimed that the government had sought to portray the Bill as a replacement for the PTA while retaining or introducing provisions that could facilitate political victimisation and repression.

The FSP also questioned the government’s decision to proceed with the Bill, despite having previously sought public views on an earlier draft.

Jayagoda said a draft had been published earlier this year, with the period for public submissions ending on February 28, but the Bill subsequently gazetted was essentially the same draft with some provisions rearranged.

Jayagoda also referred to a letter reportedly sent by Attorney-at-Law Saliya Peiris, a member of a Committee, chaired by President’s Counsel Rienzie Arsecularatne, that had been appointed to draft the legislation. He said Peiris had stated, in the October 06 letter, that changes had been made to the draft prepared by the Committee.

“This means that even the Committee, appointed to prepare the Bill, was a deception,” Jayagoda alleged.

He said that the PSTA was fundamentally similar to the Anti-Terrorism Bill introduced by the previous government, in 2023, which the National People’s Power (NPP) opposed and challenged in court.

“If the NPP opposed that Bill then and is now bringing the same legislation before Parliament, the government must explain its position,” he said.

Jayagoda called on NPP MPs to oppose the PSTA in Parliament and urged trade unions and other groups to build a broad public movement against the legislation.

He challenged the government to an open debate on the Bill.

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Shiranthi R remanded until 13 Oct.

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Former First Lady Shiranthi Rajapaksa was yesterday remanded until 13 October after being produced before the Colombo Magistrate’s Court following her arrest by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Shiranthi, wife of former President Mahinda Rajapaksa, was arrested at her residence on Poorwarama Road, Kirulapone, after CIABOC officers recorded a statement from her for nearly two hours.

According to the CIABOC, the arrest was made over allegations that Rs. 10 million obtained from the National Savings Bank through the Siriliya Saviya organisation was misappropriated.

The money was allegedly obtained to provide a Computed Tomography (CT) scanner to the children’s hospital. Investigators allege that the scanner was not provided and that the funds were instead unlawfully used.

CIABOC is investigating alleged offences under the Public Property Act and corruption-related provisions in connection with the transaction and other financial activities involving Siriliya Saviya, which was headed by Rajapaksa.

Rajapaksa returned to Sri Lanka on Monday night on a flight from Malaysia after travelling overseas for medical treatment. She left for Singapore on 16 September after being admitted to a private hospital in Colombo on 15 September following an illness.

She had been due to appear before the Financial Crimes Investigation Division (FCID) on 13 October in connection with its investigation into the financial affairs of Siriliya Saviya.

Meanwhile, her lawyers filed an anticipatory bail application before the Maligakanda Magistrate’s Court on Monday, seeking an order preventing her arrest in connection with the FCID investigation.

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Former NSB Chairman Kariyawasam granted bail

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Former National Savings Bank (NSB) Chairman Pradeep Kariyawasam was yesterday granted bail by the Colombo Magistrate’s Court following his arrest by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Kariyawasam, husband of former Chief Justice Shirani Bandaranayake, was arrested in connection with the Bribery Commission’s investigation into the ‘Siriliya Saviya’ account linked to former First Lady Shiranthi Rajapaksa.

The investigation concerns financial activities involving the Siriliya Saviya initiative, which was headed by Rajapaksa, wife of former President Mahinda Rajapaksa.

CIABOC is continuing investigations into the alleged financial irregularities relating to the account.

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