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Peoples Leasing & Finance PLC wins the most loved brand in Lanka’s finance leasing sector

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Shamindra Marcelline – Chief Executive Officer/General Manager-People’s Leasing & Finance PLC

People’s Leasing & Finance PLC, the trusted leader in the finance leasing sector, takes great pride in securing the top position among Sri Lanka’s Most Loved Brands 2023 in the Finance and leasing category, as recognized by Brand Finance. This remarkable achievement is featured in the LMD Brands Annual 2023 publication.

Shamindra Marcelline, Managing Director/CEO of PLC, expressed the company’s purpose of promoting financial inclusivity and providing advisory solutions to empower businesses and support livelihoods, especially those of small and medium entrepreneurs. PLC has consistently prioritized customer needs and remains dedicated to delivering excellent customer service. Marcelline stated, “I take immense pride in seeing People’s Leasing being acknowledged for its commitment to meeting consumer’s financial requirements and providing excellent service that resonates with their hearts.”

PLC is a leading Non-Bank Financial Institution in Sri Lanka and the flagship subsidiary of the People’s Bank, which is one of the largest state-owned banks in the country. PLC commenced business operations in 1996 and was listed on the Colombo Stock Exchange in 2011. PLC has grown to become a diversified non-bank financial powerhouse with six subsidiaries in allied areas of specialization, including an overseas venture in Bangladesh.



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Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern and Southern provinces and in Monaragala district

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 16 April 2026, valid for 17 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.


Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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Ex-COPE head questions Prez Secy’s intervention in coal scam probe

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“Auditor General’s reports a matter for Legislature not the Executive”

Former Chairman of the Committee on Public Enterprises (COPE) Charitha Herath has said it is the COPE, and not the Secretary to the President, that should have asked the CID to probe irregularities in the procurement of coal for the Lakvijaya power plant.

Dr. Nandika Sanath Kumanayake, who is the Secretary to the President, lodged a complaint with the CID last week seeking an investigation into coal procurement.

No previous Secretary to a President had done so, the former parliamentarian and the Samagi Jana Balawegaya (SJB) Working Committee member said. Herath said so responding to The Island query regarding Kumanayake calling for a probe into coal procurement, since 2009, following the National Audit Office (NAO) report on the controversial procurement process for the 2025/2-26 period.

Herath emphasised that COPE, taking into consideration the growing discontent over coal procurement, especially after the NAO exposed serious irregularities, should have initiated action. Herath cited the National System Operator’s (NSO) seeking an additional electricity tariff increase of 15%, in addition to 10% increase announced on 01 April, for the second quarter, to cover-up Rs 16 bn deficit in power generation, as a matter of grave concern. NSO has cited the prevailing dry weather, the continuing crisis in West Asia, and the low-grade coal that had been procured as primary reasons for the unanticipated shortfall in electricity generation.

Herath said that as the Secretary to the Ministry concerned was the Chief Accounting Officer, the actions of the Secretary to the President caused a technical issue. Prof. Udayanga Hemapala, now under a cloud over the violation of procurement procedures, as confirmed by the NAO, is the Secretary to the Energy Ministry. Herath emphasised the importance of the procedure adopted in appointing a Secretary to a Ministry. “President issues one letter making the appointment. Secretary to the Finance Ministry issues a second letter underscoring the responsibilities of a Ministry Secretary as the Chief Accounting Officer of a particular Ministry,” Herath said.

The second letter emphasised the accountability on the part of the Ministry Secretary regarding public finance and his direct answerability to Parliament.

The ex-COPE Chief pointed out that the Secretary to the President was part of the executive. He was not part of the legislature. If there had been a directive from COPE, that should have been issued to the Secretary to the Energy Ministry, Herath said, emphasising the entire process had to be led by the legislature not the executive. In this instance to make matters worse the finger is also pointed at the executive for being part of the alleged cover up.

The Auditor General, who heads the NAO, is answerable to Parliament, Herath said, pointing out that the AG never sent reports to the Secretary to the President, who, too, comes under the purview of the NAO. The intervention made by the Secretary to the President could set a very bad precedent and it was unfortunate that the NPP, having campaigned on an anti-corruption platform at national elections in 2024 was now struggling to cope up with the major post-Aragalaya coal scandal.

The NAO undertook the examination of the 2025/2-26 coal procurement on a request made by Dr. Nishantha Samaraweera, Galle District lawmaker, representing the ruling NPP.

Lakvijaya, the country’s sole coal power plant, situated at Norochcholai, requires approximately 2.25 mt million annually and is credited with generating 30% to 40% of the overall national electricity requirement.

According to the NAO report, the Energy Ministry had awarded the term tender for the supply of coal to India’s Trident Chemphar Ltd., though it wasn’t properly registered. The NAO also pointed out the failure on the part of the supplier to follow proper procedure in respect of loading and unloading at respective ports.

Herath said that intentionally, or inadvertently, the NPP had erred in handling the investigation. He said after receiving the NAO’s report, COPE could have averted unnecessary controversy by following the laid down procedures. The COPE Chairman could direct the Energy Secretary to inquire into the coal procurement within seven days and submit a report to Parliament. In addition, if there had been any wrongdoing on the part of officials, relevant documents/files should be sent to the CIABOC or the CID.

The COPE, in consultation with the Speaker, could also take up in Parliament as an urgent/emergency issue at the onset of the proceedings, Herath said, adding that an interim report could be presented. On the basis of that report, in terms of the Standing Orders the Parliament could immediately decide to send it to the CID.

In addition to the above mentioned procedures, the COPE could on its own initiate a fresh inquiry and submit a report to Parliament and the country, Herath said. Pointing out that the coal company comes under the purview of the executive and not the legislature, Herath said that actions of the executive could be investigated. Herath explained how the British and the US responded to such situations. Unfortunately, here in Sri Lanka apparently the COPE was being used to clear the Minister concerned while holding the officials responsible for the coal scandal.

In the wake of the NAO report signed by Auditor General Samudrika Jayarathne, the defeat of the no-confidence motion moved against Energy Minister Kumara Jayakody couldn’t be considered a victory for the government, the ex-MP said. In fact, the coal scam has challenged the NPP’s much propagated anti-corruption stance, Herath said, adding that the issue couldn’t be examined without discussing the Energy Minister being indicted over corruption by the Colombo High Court recently.

By Shamindra Ferdinando

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NJC asks govt. to seek compensation for IRIS Dena sinking

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The National Joint Committee (NJC) has urged the government to seek compensation for the environmental damage caused by the US sinking of the unarmed Iranian Frigate IRIS Dena just outside Sri Lanka’s territorial waters and within its Exclusive Economic Zone, on 4 March.

The following is the text of the NJC statement issued jointly by Lt Gen Jagath Dias (Retd) and Dr Anula Wijesundere, co-Presidents of the outfit: Sri Lanka’s economy, political landscape and social fabric was battered for too long due to man-made and natural disasters. This include two southern insurgencies, 30 years of terrorism, tsunami, Covid- 19 pandemic, Easter Sunday terrorist attack-related political instability, 2022 economic collapse, sovereign default announcement in 2022, IMF intervention, Cyclone Ditwah, numerous external shocks, with the latest being the West Asia conflict, could be named a few.

 The sinking of the Iranian warship IRIS Dena on March 4, 2026, roughly 19 to 25 nautical miles off the coast of Galle, Sri Lanka, caused severe environmental pollution, and long-term economic concerns for local communities.

Comprehensive Damage Assessment

Cost of the recovery of dead and human casualties: Out of approximately 180 personnel of the Iranian warship, the Sri Lankan Navy recovered 84-87 bodies and rescued 32 survivors, with roughly 60 sailors of the ill-fated naval vessel still missing and/or presumed dead.

As of early April 2026, the total financial damage from the IRIS Dena explosion, and sinking, off Sri Lanka’s southern coast, has not yet been fully quantified, but preliminary assessments indicate severe ecological and socio-economic risks that may have to be borne by the taxpayer.

Environmental Impact Assessments

The Marine Environment Protection Authority (MEPA) and other experts have highlighted several critical concerns:

* Toxic Spills: The vessel released thousands of tonnes of hazardous materials, including heavy fuel oil and potentially specialised military chemicals, into a highly sensitive marine ecosystem.

* Shoreline Contamination: Oil barrels and debris, including burnt parts of support craft, have washed ashore in popular coastal areas like Hikkaduwa and Dodanduwa. Laboratory tests by MEPA confirmed the presence of lubricant oil in these areas.

* Threats to Marine Life: The southern coast is a vital habitat for whales, dolphins, and vibrant coral reefs. Experts warn of a “silent” impact on ichthyoplankton (fish eggs and larvae), which are particularly vulnerable during the March-April period.

Turtle Nesting: The incident coincided with the sea turtle nesting season. Oil spills and debris are expected to increase mortality rates for sea turtle hatchlings and impact adults coming ashore to breathe and feed.

 Livelihood and Socio-Economic Damage

The explosion occurred near the international maritime boundary close to Galle, a major hub for tourism and fishing:

Fisheries: Concerned local fishermen were the first to report oil patches. While no immediate mass fish deaths were initially reported, authorities warn that long-term depletion of shallow-water fish stocks is likely with some reports suggesting up to 50% depletion of shallow-water fish in the affected area.

Tourism: Contamination at Hikkaduwa—a key tourist destination—faced disruption /threatened the local hospitality industry with oil staining the shore during the peak tourism season.

Rescue and Recovery: Sri Lanka deployed naval and air force units to rescue 30 out of approximately 180 personnel aboard torpedoed Iranian vessel. The ongoing monitoring and cleanup efforts add a significant administrative and operational burden to the state.

The Damage: While some experts draw parallels to the 2021 MV X-Press Pearl disaster (which cost over $6 billion in environmental damage), the specific “total damage” figure for the IRIS Dena is still being calculated as debris continues to wash ashore

 Accountability and Response

Sri Lanka was left to manage the search-and-rescue (SAR) and environmental clean-up at its own cost, sparking debates regarding liability for damages caused to neutral third parties by warring nations.

A 2021 study on the natural resource damage assessment for oil spills in Sri Lanka states that 39 oil spills occurred in Sri Lanka between 1999 and 2021, including the MV X-Press Pearl. A previous study published in 2017 on oil spill events in marine waters in Sri Lanka showed the sea around Sri Lanka being highly vulnerable to oil spills, as approximately 25% of the world’s oil transportation passes through Sri Lanka’s exclusive economic zone.

In August 2025, the Sri Lankan Supreme Court ordered owners of the MV X-Press Pearl to pay $1 billion in compensation for the 2021 sinking that caused the country’s worst maritime pollution disaster.

Applying the “polluter pays principle,” the ruling mandates payments for extensive plastic pellet contamination and ecological damage.

Some experts are of the opinion that once the origin of the current oil spill is determined and is confirmed linking to the sunken Iranian warship, those who carried out the attack should be held responsible for any environmental damage.

“This should be then handled at a diplomatic level. Considering the already ailing economy and the financial burden Sri Lankan taxpayer is likely to bear short, medium and long term:

1. N. J. C urge the government to do a thorough and a comprehensive damage assessment involving appropriate experts in each subject matter. N. J. C also urge the government to make necessary early dialogue with parties / countries responsible for the incident in order to recover damage cost/compensation.

2. In the backdrop of continued global tensions, vulnerability of sea trade and maritime activities in the Indian Ocean, N.J.C urge the government to represent / engage appropriate bilateral / multilateral and world bodies to declare Indian Ocean a zone of peace.

3. N. J. C recognizes the need for the government to take proactive measures joined by other littoral states at international level to devise/project a protective package from likely future disasters in the Indian Ocean.

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