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JVP: Corruption, not lack of relief, driving investors away

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Existing laws sufficient to attract foreign investment

By Saman Indrajith

Foreign investors were reluctant to park their money here not due to lack of tax relief or legal issue but because of corruption, the JVP said yesterday.

Addressing the media at the party headquarters in Pelawatte, JVP General Secretary Tilvin Silva said that investors had chosen many other destinations where the laws were tougher than in Sri Lanka. “Chinese investments are not determined by the laws and regulations of their investment destinations but by the decisions of centralised single party administration. Whenever the Chinese government names the places of investment, their investors go there. Foreign investors from other countries have concerns over a country’s infrastructure, legal system and tax regimes. But such investors are put off by Sri Lanka’s political leaders who demand commission. The investors are asked to give huge commissions to many politicians starting from the very top. This is the reason why investors are not coming here. The solution for this problem is not building special economic zones such as the Port City, but ending the culture of corruption.

The JVP General Secretary said that the government’s claim that the Port City Bill was aimed at attracting investors was unacceptable.

“We accept that investors should be attracted by giving them some relief and facilities ensuring their objective of maximising their profits. But the country already has such mechanisms. The Greater Colombo Economic Commission was set up for the said purpose and it was later expanded to form the Board of Investment, which gives relief to investors. In order to give more tax reliefs to investors, the Strategic Development Act was implemented. Those legal provisions are sufficient to attract foreign investors but will they come to this country when the ministers and their wheeler-dealers are asking for huge percentages in commissions?” Silva queried.

NPP MP Dr Harini Amarasuriya and writer Keerthi Welisarage also addressed the press.

 

 



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Fuel price hikes trigger transport disruptions and calls for fare increases

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The latest fuel price increases have sparked widespread concern among transport operators and raised questions about the government’s supportive measures. Cabinet Spokesman and Minister Dr Nalinda Jayathissa told a media briefing yesterday that the government was incurring a monthly loss of Rs. 20 billion by maintaining subsidies on fuel. According to the Minister, the state loses Rs. 100 per litre of diesel and Rs. 20 per litre of petrol under the current pricing system, a burden that the Treasury continues to absorb as part of a “supportive mechanism.”

The Ceylon Petroleum Corporation (CPC) revised fuel prices from midnight on March 21, raising the price of a litre of Lanka Auto Diesel by Rs. 79 to Rs. 382, Super Diesel by Rs. 90 to Rs. 443, Octane 95 petrol by Rs. 90 to Rs. 455, and Octane 92 petrol by Rs. 81 to Rs. 398. Lanka Kerosene was increased by Rs. 60,bringing the price to Rs. 255 per litre. Other suppliers, including Sinopec and Lanka IOC, also implemented similar hikes, with Sinopec’s Super Diesel rising sharply by Rs. 219 to Rs. 572 per litre.

The surge in fuel prices has had an immediate impact on public transport. The Chairman of the Lanka Private Bus Owners’ Association, Gamunu Wijerathne, told The Island that 90% of private buses were off the road yesterday (22). He called for a 15% increase in bus fares, raising the minimum fare from Rs. 27 to Rs. 35, warning that services could be suspended if fare adjustments are not approved.

Three-wheeler operators have also pressed for immediate fare revisions. L. Rohana Perera, General Secretary of the National Joint Three-Wheeler and Industrialists’ Association, said the rising fuel costs have made it difficult for drivers to continue operating. The Association has proposed a Rs. 20 increase for the first kilometre fare for all meter-operated three-wheelers and plans to present its concerns to the Presidential Secretariat.

Fuel price monitoring has also intensified amid concerns over potential smuggling. A senior police officer told The Island that intelligence units have been deployed near fuel stations to prevent hoarding. The police suspect that certain fuel station employees and owners could be facilitating stockpiling.

Political leaders have warned that the hikes will ripple across the economy. SJB MP S.M. Marikkar said transport cost increases will drive up the prices of essential goods such as rice and fish, leaving consumers struggling under rising costs.

Import and export container transportation charges will be increased by 20% from midnight yesterday (22) due to the recent fuel price hike, according to the Container Transport Vehicle Owners’ Association.

The latest increases follow two rounds of price hikes since March 9, driven by surging global oil prices amid the Middle East conflict. Since then, Lanka Petrol 92 Octane has risen by Rs. 105 to Rs. 398, Petrol 95 Octane by Rs. 115 to Rs. 455, Auto Diesel by Rs. 101 to Rs. 382, and Super Diesel by Rs. 114 to Rs. 443 representing an overall increase of around 35% across key fuel categories.

by Norman Palihawadane and Pradeep Prasanna Samarakoon

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Prof. Peiris honoured by International Institute of Rehabilitation

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Felicitating Prof. Peiris at the event were Senior Lecturer Ravindra Samarawickrama, Chairman of the International Organisation for Crime Prevention and Rehabilitation, Director Nilantha Kotikawatte, and Senior Lecturer Udaya Kumara Amarasingha, Head of the Department of Criminology and Criminal Justice at the University of Sri Jayewardenepura

At the award presentation ceremony of the International Rehabilitation Institute last week, Professor G.L. Peiris, as Chief Guest, in his keynote address, dealt with the special relevance of rehabilitation at this time. The traditional criminal law makes provision for punishment after a crime has been committed, and punishment usually takes the form of a prison sentence. It is even more important, however, to explore practical means of prevention and also to have recourse to a custodial sentence as a last resort rather than as the typical response.

The modern approach is that punishment is seen not as retributive but as a means of rehabilitating the offender in society. Prison sentences, bringing a first offender into the prison environment and association with habitual offenders, carries the risk of recidivism, the available statistics indicating the likelihood of return to prison on repeated occasions.

He placed emphasis on the importance of informed social attitudes to ensure that an offender does not carry a permanent stigma, reducing his opportunities for employment and acceptance in society. The importance of religious instruction in early childhood, and the close connection between temple and village, was stressed.

Professor Peiris was honoured with an award of appreciation by academic colleagues.

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CMC resumes parking fees

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The Colombo Municipal Council (CMC) has resumed parking fees in the city with effect from today (23).

Parking management and fee collection will recommence from 6 am, following a decision by the Finance Standing Committee of the Council.

Charges were temporarily suspended from March 18 due to heavy traffic and long queues near fuel stations. Authorities said the situation had improved with the introduction of the QR code system and odd-even rationing.

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