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Lanka seeks long-term credit line from KSA to procure oil

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Environment Minister Naseer Ahamed initiates talks

Special Envoy of President Ranil Wickremesinghe to the Kingdom of Saudi Arabia (KSA), Environment Minister Naseer Ahamed has entered into discussions with the Saudi government, seeking Riyadh’s collaboration with Colombo, for a five-year credit line of US $ 6 billion per annum for the supply of fuel, on a government to government basis as a long-term solution to Sri Lanka’s current economic crisis, sources disclosed.

Minister Ahamed as special envoy also proposed Saudi investments in Sri Lanka for manufacturing fertiliser, constructing petroleum storage facilities, establishing fuel supply stations, modernising and expanding the refinery, opportunities in mining minerals and promoting renewable energy.

During the meeting with the Saudi Vice Minister of Foreign Affairs, Waleed Al Khuraiji, in Riyadh, last week, Minister Ahamed intimated President Wickremesinghe’s desire to invite the Saudi Crown Prince Mohammed bin Salman to visit Sri Lanka at his convenience. A possible visit of President Wickremesinghe to Riyadh, prior to the Saudi ruler’s visit to Sri Lanka, had also surfaced in the discussions, sources said.

At the meeting with Eng. Mansour bin Hilal Al Mushaiti, Vice Minister of Environment, Water and Agriculture, Special Envoy and Environment Minister Ahamed referred to the role of coconut peat in the 10 million trees project of the Saudi Green Initiative and the possibilities of the Saudi Ministry investing in a coco-peat venture in Sri Lanka, and also setting up a fertiliser manufacturing project, that may help Sri Lanka achieve self-sufficiency in food. The Ministers followed up with a visit to the Saudi Basic Industries Corporation (SABIC) which produces fertilisers, industrial polymers, triple phosphate fertiliser and petrochemicals. ‘SABIC’ had responded with its readiness to supply Sri Lanka’s requirements, on a government to government basis, or to the private sector.

The Sri Lankan Minister also called on the Saudi Development Fund. Its CEO, Dr. Sultan Al Marshad said that the Fund is principally a development partner in projects and a lending agency. They would take a flexible approach, if invited for the meetings relating to the restructuring of Sri Lanka’s loans with other lending nations and entities, and that the Fund’s participation can benefit Sri Lanka.

The Special Envoy also visited the ACWA Power headquarters, in Riyadh, an entity which had made investments worth US $ 2.4 billion, in Uzbekistan, on 22nd August, this year, on a 1.5 GW wind farm project, and invited the group to explore investment opportunities in Sri Lanka. ACWA Power had already indicated interest in investing, in the range of US $ 600 to 800 billion, in Sri Lanka.

According to an internal report, received by the government from Riyadh, the Arabic speaking Environment Minister of Sri Lanka, “an alumnus of the King Fahd University of Petroleum and Mineral, in Riyadh, had received considerable recognition during all his engagements with the Saudi establishments, widening considerably the scope for cooperation between the two countries”.

The Environment Minister was in Saudi Arabia, from 28 August to 1st September, and was accompanied by Sri Lanka’s Ambassador to Saudi Arabia, P. M. Amza, and other officials. The Minister is understood to have briefed the President and the Cabinet on Monday.



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16 years of unpaid EPF benefits and gratuity payments of JEDB workers will finally be disbursed

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The Kandy South Labour Office has launched a special programme to commence the payment of Employees’ Provident Fund (EPF) contributions and gratuity payments which have remained unpaid since 2010 to the estate labour community of the Janatha Estates Development Board (JEDB) in the Kandy District.

Due to various reasons, the relevant company had failed to pay these entitlements to estate workers, country-wide. As the government has allocated Rs. 2000 million, from the previous Budget, to expedite these long-overdue payments, investigations have been fast-tracked to begin disbursing benefits to the rightful beneficiaries.

Under the supervision of the Assistant Commissioner of Labour for the Kandy District, Ms. Padma Ratnayake, a team of officers, including Senior Labour Officer of the Kandy South Labour Office, Upul Ariyaratne, has taken steps to visit the Loolkandura Estate, in Galaha, to collect information from the workers. Special investigations are currently underway in several areas of the Kandy District where the majority of JEDB estates are located, with the aim of ensuring these benefits reach the correct claimant, or their dependents, accurately.

The labour community, who dedicated their labour to the country, had been severely distressed due to the non-payment of these benefits for 16 years. Approximately 4,500 workers, who served under the said estate company, and were entitled to these benefits, had made various requests, while others had initiated legal action against the failure to pay these contributions.

By S.K. Samaranayake

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Speaker endorses Microfinance and Credit Regulatory Authority Bill

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Speaker Dr. Jagath Wickramaratne yesterday (20) endorsed the certificate on the Microfinance and Credit Regulatory Authority Bill, which was recently passed by Parliament.

The Microfinance and Credit Regulatory Authority Act provides for the establishment of a new regulatory authority to introduce a strong legal framework for regulating and supervising money lending and microfinance businesses in Sri Lanka. The objective of this authority is to regulate and supervise licensed money lenders and licensed microfinance institutions, protect customers engaged with such institutions, and coordinate with the Central Bank and other regulatory bodies. Additionally, the Bill provides for the repeal of the Microfinance Act No. 6 of 2016 and includes provisions related to matters connected therewith or incidental thereto.

The Microfinance and Credit Regulatory Authority Bill was first presented to Parliament on 26th November, 2025, and was passed by Parliament on 4th March, 2026.

Accordingly, the Microfinance and Credit Regulatory Authority Bill comes into force from yesterday (20) as the Microfinance and Credit Regulatory Authority Act, No. 9 of 2026.

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Cyber safety training conducted for Parliament staff by Sri Lanka CERT

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Cyber Safety Training Programme for staff members of the Parliament in progress

The Sri Lanka Computer Emergency Readiness Team (Sri Lanka CERT) recently conducted a Cyber Safety Training Programme for staff members of the Parliament of Sri Lanka, as part of its ongoing efforts to strengthen cybersecurity awareness across the public sector.

A release issued yesterday by Sri Lanka CERT said: The training programme was organised following the directive of President Anura Kumara Dissanayake, who has instructed the Ministry of Digital Economy and Sri Lanka CERT to enhance the digital security capacity of government officers across state institutions.

Participants in this capacity building programme included department heads, senior officials, and the Secretary-General of Parliament, Kushani Rohanadeera.

The sessions were conducted by Nirosh Ananda, Chief Information Security Officer of Sri Lanka CERT; Charuka Damunupola, Lead Information Security Engineer; and Thilina Dissanayake, Manager Capacity Development on Cyber Safety.

The workshop covered several key topics, including crisis management in social media contexts, cybersecurity and online safety, ethical and responsible use of social media, and emerging trends in digital media. These sessions aimed to equip participants with the knowledge and skills required to adopt safer digital practices in their professional roles and to better understand the evolving landscape of cyber threats.

Through the training, participants gained practical insights into protecting sensitive information, maintaining professional standards in online communication, and effectively managing digital risks and challenges in today’s interconnected environment.This initiative forms part of Sri Lanka CERT’s broader efforts to enhance cybersecurity awareness and build cyber resilience across government institutions in Sri Lanka.

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