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Trade Minister calls for two-day debate on misappropriation of Mahapola funds

Published

4 years ago

2021/04/7

By Saman Indrajith

Trade Minister Bandula Gunawardena yesterday called for a two-day parliamentary debate on the issues pertaining to the misappropriation of monies of the Mahapola Scholarship Fund during the times of the yahapalana government.

The government MPs expressed their approval for the debate.

Minister Gunawardena said that the late Trade Minister Lalith Athulathmudali had set up the Mahapola Trust Fund to help poor students pursue their higher education. Some racketeers had helped themselves to the funds meant for students, and Parliament had to discuss the issue, the Minister said.

Minister Gunawardena said so after Chairman of the Parliamentary watchdog committee- COPE (Committee on Public Enterprises) MP Prof. Chairtha Herath had presented the Committee’s report on Sri Lanka Institute of Information Technology set up by the investments arm of the Mahapola Trust Fund.

Prof. Herath said that there was a problem pertaining to the misappropriation of the Mahapola Trust Fund money and action should be taken to prevent the recurrence of such incidents. The report, tabled in Parliament yesterday, contained measures to be put in place to avoid the incidents of misappropriation of funds of the MTF in the future.

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“Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” by Mahinda Siriwardana presented to the President

Published

5 hours ago

2025/04/8

Priyan

The book “Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” ,authored by Secretary to the Ministry of Finance, Mr. Mahinda Siriwardana, was officially launched this morning (08) at the Galle Face Hotel, Colombo, with the participation of President Anura Kumara Disanayake.

The first copy of the publication was formally presented to President Disanayake by Mr. Siriwardana during the event.

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Former state minister arrested by CID

Published

5 hours ago

2025/04/8

Priyan

It has been reported that former State Minister Sivanesathurai Chandrakanthan alias ‘Pilleyan’ has been arrested by the Criminal Investigation Department (CID).

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President meets with senior officials of SriLankan Airlines

Published

5 hours ago

2025/04/8

Priyan

A meeting between President Anura Kumara Disanayake and senior officials of SriLankan Airlines was held this afternoon (April 8) at the Presidential Secretariat.

The discussions mainly focused on proposals to transform SriLankan Airlines into a more profitable state-owned enterprise. Special attention was also given to possible short-term and long-term solutions for the airline’s debt management.

The talks further explored new investment opportunities for the airline. The President instructed the officials to take all necessary steps to transform SriLankan Airlines into a profit-making entity.

Although the airline has recorded operational profits, due to past mismanagement and poor decision-making, it remains one of the leading loss-making state enterprises. The current government has decided to reverse the previous administration’s decision to privatize the airline. Instead, it plans to continue operating it as the national carrier while introducing a new management structure to ensure its profitability moving forward.

Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, President’s Senior Advisor Duminda Hulangamuwa, Chairman of SriLankan Airlines Sarath Ganegoda along with several senior officials of SriLankan Airlines, were present at the meeting.