News
SPARK: Youth Entrepreneurship Competition 2023

The Ceylon Chamber of Commerce and the International Labour Organization (ILO) are delighted to announce following an overwhelming response to the recently launched SPARK: Youth Entrepreneurship Competition, the competition has now progressed to its second stage, where the top 100 applicants will be shortlisted to continue their journey towards the prestigious top prize.
Since its launch on May 31, 2023, SPARK has captured the attention and ambition of young thinkers and innovators between the ages of 15 and 24 throughout the nation, who have eagerly embraced the opportunity to showcase their entrepreneurial skills, novel innovations and groundbreaking ideas.
Following a vast number of applications submitted by aspiring young entrepreneurs from across the country, the competition has now entered its second stage, where a selection committee comprising veterans of the entrepreneurship ecosystem will carefully evaluate the applications to identify the top 100 contenders who will advance to the next phase of the competition.
The competition is a flagship initiative of the ILO’s South Asia Leadership in Entrepreneurship (SALE) programme, of which the Ceylon Chamber is the implementing partner. Through strategic interventions such as SPARK, ILO’s SALE programme, funded by the U.S Department of State is endeavouring to boost young people’s transition into the entrepreneurial world and create a shift in the entrepreneurial ecosystems.
News
Sajith asks govt. to submit its MoUs with India to Parliament

Prof. Jayasumana raises possibility of Lanka ending up with “Quad’
Opposition and SJB Leader Sajith Premadasa has said it is the responsibility of the NPP government to submit the MoUs/agreements that were recently signed with India to the respective Sectoral Oversight Committees (SOCs).
Premadasa said so when The Island raised the issue with him. He said that during his meeting with Premier Modi his focus had been on opening the Indian market for Sri Lankan garment exports.
The seven MoUs/agreements signed on 05 April included defence cooperation, energy, Eastern Province development and digitalisation.
Meanwhile, the Vice President of Sarvajana Balaya and former lawmaker Prof. Channa Jayasumana said that the government owed an explanation whether the recently signed MoU on defence cooperation directly or indirectly attached Sri Lanka to the Quad security alliance, consisting of the US, Australia, Japan and India.
The former SLPPer raised the issue at a meeting held at Boralesgamuwa on Monday (07) in support of Sarvajana Balaya candidates contesting the May 6 LG polls.
Prof. Jayasumana urged that the MoU on Defence Cooperation be placed before Parliament, and the people, without further delay. The academic who served as State Health Minister during President Gotabaya Rajapaksa’s tenure said that President Anura Kumara Dissanayake’s foreign policy direction should be dealt with.
By Shamindra Ferdinando
News
Govt. won’t extend suspension of ‘parate executions’

The government would not extend the suspension of ‘parate executions’ that was now effective, Deputy Minister of Finance Harshana Suriyapperuma told Parliament yesterday.
Suriyapperuma said so in response to a question raised by Opposition Leader Sajith Premadasa, who asked about the government’s plans regarding a relief package to assist small and medium-scale enterprises (SMEs) struggling to repay loans.
Pointing out that about 263,000 SMEs had closed down, Premadasa asked what action the government would take to address the grievances of these SMEs.
He said that from 01 Jan., 2019, to 01 Dec., 31, 2023, licensed banks had collected Rs. 113.7 billion through 2,263 parate executions. As of 31 Dec., 2024, Rs. 1,380 billion had been recovered from Stage III defaulters.
The government has introduced loan schemes to assist SMEs impacted by the economic crisis. They included capital loans of up to Rs. 10 million, with a six-month grace period and a three-year repayment term at 8% interest, Suriyapperuma said. Additionally, another loan scheme under the consolidated fund aimed to help SMEs that werecurrently paying their loans. That scheme offered loans of up to Rs. 15 million, which must be repaid over ten years with a one-year grace period and a 7% interest rate. For SMEs that had defaulted on their loans, a loan of up to Rs. 5 million is available at 8% interest, with a six-month grace period and a five-year repayment term, Suriyapperuma said.
By Saman Indrajith
News
Resolution to remove IGP: Resolution passed, four Opp MPs vote with govt.

The Parliament yesterday approved a Resolution to appoint a Committee of Inquiry (CoI) in terms of Section 5 of the Removal of Officers (Procedure) Act, No. 5 of 2002, to remove Inspector General of Police (IGP) Deshabandu Tennakoon from office.
The parliament announced 151 votes were received in favour of the Resolution and was passed without debate. Three opposition MPs R. Ramanathan Archuna, Nizam Kariyappar, Mujibur Rahuman and Ajith P Perera voted with the government.
The Resolution moved by NPP MP Lalkmali Hemachandra aims to appoint the CoI to investigate charges of misconduct and gross abuse of power of his office.
NPP MP Gayan Janaka seconded the motion.
SLMC MP Nizam Kariyappar said that the motion carrying the resolution should better be amended citing the Standing Order 91 (F) stating that the matter of Tennakoon was sub judice.
Deputy Speaker Dr. Mohamed Rizvie Salih said that the matter does not arise as per the agreements reached by the party leaders.
Chief Government Whip Health and Mass Media Minister Dr Nalinda Jayatissa called for a division on the resolution.
By Saman Indrajith
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