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Treasury will not bail out loss incurring SOEs: State Minister

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State Minister of Finance Shehan Semasinghe on Wednesday said that the Treasury could not save the State-Owned Enterprises that incurred losses.Sri Lanka must follow the globally accepted economic methods, he said. During a ceremony held at the Ministry of Finance on Tuesday (04), the state minister emphasised that Sri Lanka’s adoption of counter economic measures was a direct response to a major economic crisis.

He emphasised that each country must identify and implement its own strategies to stabilise its economy. The Minister’s comments were made in conjunction with the signing of Corporate Intention agreements between the Ministry of Finance and several state-owned enterprises.

The state minister provided insight into the financial performance of 52 strategically important public institutions. According to his report, 39 of these institutions have been generating profits, while the remaining 13 are currently running at a loss. Shockingly, these 13 institutions have collectively incurred losses of over 1029 billion rupees. In contrast, the total profits generated by the profitable institutions amount to only 218 billion rupees.

He also drew attention to the alarming fact that the overall annual losses of government institutions exceed 811 billion rupees. However, he acknowledged that the profit-making institutions have contributed Rs. 28 billion to the national treasury.

The state minister also acknowledged that while the government enjoys a market monopoly in several related businesses, many of its institutions are still incurring losses. In light of the current economic crisis, the Minister emphasised that the treasury can no longer sustain institutions that have not met their financial targets or that continue to operate at a loss. He pointed out that any allocation of funds from the treasury ultimately amounts to an allocation of taxpayer money for the maintenance of these institutions. Therefore, the government cannot afford to burden the public any further by continuing to financially support such institutions. Instead, the government will take a regulatory role in overseeing the operations of these entities.



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PM meets Sri Lankan community living in London

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Prime Minister Dr. Harini Amarasuriya, who is currently on an official visit to the United Kingdom, met with members of the Sri Lankan community living in London on Wednesday [20th]  and engaged in cordial discussions.

Despite the event being held on a weekday, it was notable that nearly one thousand Sri Lankans representing the Sinhala, Tamil, and Muslim communities attended with great enthusiasm.

Addressing the gathering, Prime Minister Dr. Harini Amarasuriya stated that despite natural disasters and international crises, the present government has succeeded in stabilizing the country’s economy while providing relief to the people. She further noted that Sri Lanka’s political culture has now undergone a positive transformation that is irreversible.

Minister of Women and Child Affairs Saroja Paulraj, addressing the event, stated that a governance system has now been established in the country where all communities are treated equally and the benefits of economic development are shared fairly among all citizens.

Moving away from the traditional method of political gatherings, the event also provided an open platform for members of the Sri Lankan community to directly raise questions and express their views to the Prime Minister and the Minister.

Commenting on the organization of the event, the organizing committee stated that all expenses, including dinner, were borne by the participants themselves. The organizers further remarked that it is unsurprising that opposition groups, accustomed to organizing such events through the misuse of public funds, appear unsettled by this transparent process.

The occasion was attended by the Minister of Women and Child Affairs Saroja Paulraj and Sri Lanka’s High Commissioner to the United Kingdom, Nimal Senadheera.

[Prime Minister’s Media Division]

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Prime Minister Dr Harini Amarasuriya meets Foreign Secretary of the United Kingdom

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Prime Minister Dr Harini Amarasuriya currently undertaking an official visit to London, United Kingdom, to participate in the 43rd Commonwealth of Learning (COL) Board of Governors Meeting 2026  held a bilateral meeting with the Yvette Cooper MP, Foreign Secretary of the United Kingdom ON Wednesday [20]. The Prime Minister was accompanied by Sri Lanka’s High Commissioner to the United Kingdom, Nimal Senadheera, along with officials from the Sri Lankan High Commission.

During the meeting, the Prime Minister conveyed Sri Lanka’s appreciation to the United Kingdom for the support extended in the aftermath of Cyclone Ditwa, including ongoing rebuilding and recovery assistance. The Prime Minister also commended the United Kingdom’s support in facilitating increased bilateral trade and exports for Sri Lanka.

The Prime Minister briefed the UK delegation on Sri Lanka’s recent economic developments and policy priorities, the Government’s commitment to advancing human rights and reconciliation, as well as Sri Lanka’s positive growth trajectory.

The two sides also exchanged views on current global geopolitical developments, challenges in the energy sector, and the importance of enhancing regional connectivity and long-term energy security.

Both sides also emphasised the importance of strengthening structured academic mobility frameworks while ensuring fairness, clarity, and integrity within migration systems.

They also reaffirmed their commitment to further strengthening bilateral cooperation between the two countries in areas of mutual interest.

[Prime Minister’s Media Division]

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Suspects involved in sureties controversy granted bail

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Kapila Chandrasena

Airbus bribe case:

Colombo Additional Magistrate Lahiru Silva yesterday (20) granted bail to Mohamed Riswan and Mohamed Irshan, who allegedly received money to stand as sureties for the late former SriLankan Airlines CEO, Kapila Chandrasena. They were identified as residents of Sanchi Arachchi Watta, situated next to the Hulftsdorp court complex.

Chandrasena was found dead at his brother-in-law, Aravinda De Silva’s residence, at No. 38, Pedris Road, Kollupitiya, on 8 May.

The Magistrate also granted bail to B. A. Tissa and Perumal Ganesh, who arranged for Riswan and Irshan to stand as sureties for Chandrasena, who is under investigation for allegedly receiving a USD 2 million bribe through his wife to facilitate an Airbus deal. They, too, residents of Sanchi Arachchi Watta, were granted bail on two personal bail of Rs. 500,000 each.

Airbus had to pay USD 4 billion in penalties after admitting it had paid huge bribes to secure contracts in 20 countries. Sri Lanka is among them.

The Magistrate directed that the Grama Niladhari should certify their residence and the relevant certificates submitted to court and to establish the financial status of those who stood as sureties for the four persons.

The court was told that Mohamed Riswan and Mohamed Irshan obtained 17 Grama Niladhari certificates from January till May 2026. On the basis of a statement recorded from Keselwatta Grama Niladhari S. Nilantha Silva police informed court that the first suspect had obtained 10 certificates and the second person seven.

Fourth suspect Ganesh had first met those who stood as sureties, on 05 May, in the court premises and struck the deal. Crime OIC of Keselwatta Police, Sub Inspector K.W.D. Anuruddha, told court that Mohamed Riswan, Mohamed Irshan and B. A. Tissa hadn’t even known who Chandrasena was and were not related to him in anyway, according to investigations. Police requested that the four persons be further remanded.

The Magistrate granted them bail and set the next hearing for 25 June.

Legal sources said that such illegal practices were rampant, and in this particular case the Court Registrar should have been able to see that the sureties were very much unlikely to be relatives of Chandrasena.

By Shamindra Ferdinando

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