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It is important to strengthen economic cooperation and regional integration with Japan and India – President
President Ranil Wickremesinghe emphasized the importance of strengthening economic cooperation and regional integration with Japan and India, with a special focus on deepening ties with India. The President made these remarks while addressing the Head of State Session of the 3rd Voice of Global South Summit, held under the theme “An Empowered Global South for a Sustainable Future.”
Speaking from the President’s House in Anuradhapura virtually on Saturday (17), President Wickremesinghe highlighted Sri Lanka’s strategic commitment to expanding economic partnerships across Asia, particularly through the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). The President noted that as the Bay of Bengal region emerges as a hub of economic growth, the significance of BIMSTEC continues to rise. Sri Lanka, as a member, seeks closer economic integration with India and is exploring economic cooperation agreements extending from Japan to India.
The conference, chaired by Indian Prime Minister Narendra Modi, brought together heads of state from various countries. During his address, President Wickremesinghe praised India’s efforts to strengthen the Global South, acknowledging that the West can no longer maintain its dominance in global leadership. He lauded the Voice of the Global South Summit as a crucial platform for fostering consensus on challenges facing developing nations.
Reflecting on Indo-Sri Lankan relations, the President emphasized the “Vision” statement shared between the two nations, which celebrates their historical cooperation and lays the foundation for future collaboration. He expressed optimism that this vision will lead to stronger integration between Sri Lanka and India across various sectors.
President Wickremesinghe also expressed his gratitude to Prime Minister Modi and the people of India for their support during Sri Lanka’s recent economic crisis. The President acknowledged that India’s assistance played a vital role in helping Sri Lanka navigate the challenges of the past two years and emerge from bankruptcy.
President Wickremesinghe further elaborated,
“Your Excellencies, Sri Lanka thanks India for hosting the third virtual seminar on Voices of the Global South. This series enables us to engage with each other to understand our different viewpoints while also helping us arrive at a common stance on many issues confronting the South. We have reached a point where the West can no longer dominate global leadership and, furthermore, has become part of the problem. Ukraine and Gaza are prime examples, which I will not address as they have already been discussed by previous speakers. In this context, we must appreciate India’s efforts to strengthen the Global South.
Your Excellencies, let me speak a few words about my country. Sri Lanka has reached agreements with the Official Creditor Countries, the Export-Import Bank of China, the IMF, the World Bank, and the ADB to emerge from bankruptcy. At this stage, I must acknowledge the generosity of Prime Minister Modi and India, whose contributions made it possible for us to survive the two years of bankruptcy, which imposed a heavy burden on our people. The Vision Statement agreed upon by both our countries outlines the path for closer relations, emphasizing our 2,000-year history of cooperation. This will ultimately lead to deeper integration between our nations across many sectors.
We will be finalizing the Comprehensive Economic and Technological Agreement. We will also inaugurate connectivity in power, transport, and land, and we will focus on the development of Trincomalee Harbour, among other projects we have agreed upon. These efforts will help us upgrade our knowledge and technology, enabling us to move towards a digital economy. I must express my gratitude to India for the assistance it has provided.
I must also mention the Bay of Bengal, which is becoming a growth centre, with BIMSTEC gaining increasing importance. As a member of BIMSTEC, Sri Lanka, with its close economic integration with India, seeks membership in the RCEP, aiming to establish economic cooperation agreements from Japan to India. We recognize the Bay of Bengal as essential for the development of our economies.
Given that many of the topics I intended to address have already been covered by previous speakers, I would only like to mention that the post-1989 era, started with the collapse of the Soviet Union, which was dominated by such views as the clash of civilization and the end of history, which highlighted the dominance of the Western system, has now coming to an end. This summit, along with similar gatherings, the expansion of BRICS, and the expansion of the G20, will pave the way for a new order where the Global South will leave a lasting legacy. I must thank India, which, since its independence, has worked to unite Afro-Asian countries and for the role it continues to play in forging closer unity among all of us. Thank you.”

News
Power sector overhaul targets losses, debt and tariffs
Independent trade unions cry foul
The government has launched a far-reaching overhaul of the electricity industry, breaking up the Ceylon Electricity Board (CEB) into six fully state-owned companies, claiming to rein in chronic losses and mounting debt.
Under the Preliminary Transfer Plan, the newly incorporated entities, namely, Electricity Generation Lanka (Pvt) Ltd (EGL), National Transmission Network Service Provider (Pvt) Ltd (NTNSP), National System Operator (Pvt) Ltd (NSO), Electricity Distribution Lanka (Pvt) Ltd (EDL), CEB Employees Funds (Pvt) Ltd (CEBEF) and Energy Ventures Lanka (Pvt) Ltd (EVL), will take over the assets, liabilities and operations of the CEB from the appointed date.
Independent trade unions have opposed the restructuring programme.
At the core of the new model is the creation of an independent National System Operator, which will handle power system planning and competitively procure electricity from Electricity Generation Lanka, Independent Power Producers and non-conventional renewable energy developers. Power will be wheeled through the national grid operated by the NTNSP and sold to distribution companies.
Explaining the economic rationale, Eng. Pubudu Niroshan Hedigallage said the separation of functions was critical to restoring cost discipline in the sector.
“Electricity planning and procurement will now be carried out independently, based on least-cost principles. That is essential if we are to control generation costs and ease the upward pressure on tariffs,” he said.
Electricity Generation Lanka, though a successor to the CEB, will compete with private and renewable energy producers for projects, a move expected to curb inefficiencies and end guaranteed returns enjoyed under earlier arrangements.
“There will be no automatic allocation of projects. EGL must compete in the market like any other generator,” Eng. Hedigallage said.
According to officials, the Preliminary Transfer Plan provides for one generation and one distribution company initially, with further unbundling planned under the Final Transfer Plan to introduce sharper financial accountability at operational level.
Economists note that the restructuring is closely watched by multilateral lenders and investors, who have repeatedly flagged the power sector as a major fiscal risk.
The government has insisted that the reforms do not amount to privatisation, stressing that all six entities remain 100 percent state-owned. However, independent trade unions are of the view that what the government has undertaken is divestiture in all but name.
By Ifham Nizam
News
India, Sri Lanka speakers discuss technology-driven parliamentary innovation, including AI-enabled systems
Speaker of Lok Sabha Om Birla and Sri Lankan Speaker (Dr.) Jagath Wickramaratne recently discussed the possibility of expanding parliamentary cooperation through regular exchanges, formation of friendship groups, collaboration in policy and programme design and deeper engagement in technology-driven parliamentary innovation, including AI-enabled systems, real-time multilingual translation, and capacity building through Parliamentary Research and Training Institute for Democracies (PRIDE).
The discussion took place on the sidelines of the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi recently.
The following is the text of the statement issued by the Indian High Commission in Colombo: ” Speaker of the Parliament of Sri Lanka (Dr.) Jagath Wickramaratne concluded his visit to India from 14-18 January 2026, for participation in the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi. This was his first visit to India after assuming office. He was accompanied by Secretary-General of Parliament Kushani Rohanadeera and Assistant Director, (Administration) of the Parliament of Sri Lanka Kanchana Ruchitha Herath. Following the 28th CSPOC from 14-16 January 2026, Speaker and his delegation visited Jaipur, Rajasthan as a part of a two-day tour for CSPOC delegates from 17-18 January 2026.
The 28th CSPOC was inaugurated by Prime Minister of India Narendra Modi on 15 January 2026 at the Central Hall of Samvidhan Sadan, Parliament House Complex, New Delhi. Welcoming parliamentary leaders from across the Commonwealth, Prime Minister Modi highlighted the success of Indian democracy in providing stability, speed, and scale. He shared India’s efforts at giving voice to the Global South and forging new paths of cooperation to co-develop innovation ecosystems. He underlined the use of Artificial Intelligence by the Parliament of India to attract youth to understand Parliament. Prime Minister expressed his confidence in the CSPOC platform for exploring ways to promote knowledge and understanding of parliamentary democracy.
The conference, chaired by Lok Sabha Speaker Om Birla, convened 44 Speakers and 15 Deputy Speakers from 41 Commonwealth countries, along with representatives of four semi-autonomous Parliaments. The theme of the conference was “Effective Delivery of Parliamentary Democracy.” During the conference, participants addressed the role of Speakers in reinforcing democratic institutions, the integration of artificial intelligence in Parliamentary functions, the influence of social media on Members, approaches to enhance public engagement with Parliament, and measures to ensure the security, health, and wellbeing of Members and Parliamentary staff.
The visit marked a significant milestone in the evolving parliamentary partnership between India and Sri Lanka. Last year, two Parliamentary Delegations visited India for Orientation Programmes in May 2025 and August 2025 respectively. These visits, in line with the intent of the India – Sri Lanka Joint Statement on ‘Fostering Partnerships for a Shared Future’, further reinforce the strong democratic ethos and enduring friendship shared between the two nations.”
News
Pakistan HC celebrates academic achievements of Lankan graduates
The High Commissioner of Pakistan in Sri Lanka hosted a special reception on Friday (16) for Sri Lankan alumni who have recently returned from their studies in Pakistan. The event, held at the Pakistan High Commission, celebrated the academic achievements of the graduates and reinforced the deep-rooted educational ties between the two nations.
The Allama Iqbal Scholarship Programme, a flagship initiative launched in 2019, has become a vital pillar of bilateral cooperation. The High Commissioner highlighted that Pakistan offers 1,000 fully funded scholarships at graduate, postgraduate, and PhD levels, with over 500 Sri Lankan students currently pursuing their education in Pakistan’s premier universities.
“Sri Lanka and Pakistan share an enduring friendship rooted in a shared history of mutual respect and culture,” the High Commissioner remarked during the address. “Education is the key to unlocking the success of your brilliant futures and creating bonds that extend well beyond the classroom”.
Addressing the alumni as “custodians” of a noble cause, the High Commissioner urged the alumni to act as brand ambassadors by sharing their knowledge to guide deserving students toward academic opportunities in Pakistan.
He emphasised their responsibility to mentor young minds, ensuring no capable student misses the chance for a promising future. Furthermore, the alumni were encouraged to take an active role in organising frequent educational and cultural engagements to inspire and enlighten others while strengthening the ties between the two nations.
The High Commissioner emphasized that each graduate serves as a “bridge” between the two countries, playing a meaningful role in uplifting Sri Lanka while further strengthening Pakistan–Sri Lanka relations. The alumni were invited to remain closely connected with the High Commission to facilitate future initiatives that strengthen people-to-people ties.
The evening concluded with a traditional Pakistani dinner, where the alumni shared stories of their academic growth and cultural experiences in Pakistan in a spirit of friendship and togetherness.
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