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Australia keen to invest in Sri Lanka phosphate, graphite, ilmenite sectors: High Commissioner

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ECONOMYNEXT –Australian firms are interested in investing in Sri Lanka, particularly in resource sector, but a more conducive investment environment is needed, High Commissioner Paul Stevens said.

Sri Lanka is looking to foreign direct investment as a factor in taking the country out of an economic crises triggered by excessive deployment of ‘macro-economic policy’ involving fiscal and monetary stimulus.

Sri Lanka is also planning to draw up a new foreign investment law as well as speeding up the processes within the Board of Investment.

Sri Lanka has to “continue to work towards a more conducive foreign investment environment” High Commissioner Stevens told a forum in Colombo, where Australia supported training journalists in macro-economics, with the central bank and Sri Lanka Press Institute.

“There are a number of Australian businesses making substantial investments Sri Lanka in certain sectors,” he said.

Australian firms are interested in investing in phosphate, graphite and ilmenite sectors, he said. Australia has a strong mining sector.

Australia also made economic reforms to boost investments and the economic. At one time Australian economy was also “not competitive and efficient” as it should have been and the country went on a reform drive involving de-regulation and changing systems and process.

It was not necessarily an easy process, as some sectors faced more competition. Australia has about the same population as Sri Lanka but the country has monetary stability.

Sri Lanka privatized some graphite mines in the 1980s, and one is listed in the Colombo Stock Exchange and now controlled by a foreign firm.A state-run firm is involved in collecting ilmenite sands that wash up in the Eastern Coast of Sri Lanka.

Attempts to bring a private mining firm into phosphate about two decades ago however failed amid resource nationalism as well as environmental concerns, observers say.



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President opens Wax Museum at the historic Ehelepola Walawwa in Kandy

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President Anura Kumara Dissanayake officially opened the Wax Museum  established at the historic Ehelepola Walawwa in Kandy.this morning (17)

The Ehelepola Walawwa, which was renovated by the Urban Development Authority, has been handed over to the Temple of the Sacred Tooth Relic. The museum was then established, ensuring the preservation of its archaeological and cultural significance.

The museum features wax recreations depicting the architecture, customs and arts and crafts of the Kandyan Kingdom, to which the Ehelepola Walawwa belongs. There are also exhibition stalls showcasing traditional industries, as well as a dining area illustrating how ancient royal meals were prepared, complete with their recipes.

Furthermore, 35 lifelike wax figures of significant historical figures have been recreated at the museum. These include Ven. Weliwita Sri Saranankara Sangharaja Thera, Ven. Wariyapola Sri Sumangala Thera, King Wimaladharmasūriya I, Queen Kusumāsana Devi, Monarawila Keppetipola Disawe, Devendra Mulachari, Governor Robert Brownrigg, Ehelepola Maha Adikaram, Kumarihami, and their two children.

It’s anticipated that this museum, designed to showcase Sri Lanka’s grandeur and pride, will be a major attraction for both local and international tourists visiting Kandy.

It’s also expected to become a centre where the current generation can accurately study the Kandyan Kingdom and its associated history.

Athula Herath, a resident of Gampola, is the designer of the museum. The project, which falls under the Ehelepola Walawwa Museum Special Project, was implemented at a cost of Rs. 300 million.

Among those present at the opening were Most Venerable Dr Niyangoda Vijithasiri Thera, Anunayake of the Malwathu Chapter of the Siyam Maha Nikaya and Most Venerable Ven. Dimbulkumbure Wimaladhamma Thera, Anunayake of the Malwathu Chapter of the Siam Maha Nikaya; Most Venerable Wendaruwe Upali Thera and Most Venerable Anamaduwe Dhammadassi Thera, the Anunayake Theras of the Asgiri Chapter of the Siam Maha Nikaya, along with other revered monks from both the Malwathu and Asgiri Chapters of the Syamopali Maha Nikaya, including their registrars and executive council members.

Also in attendance were K.D. Lalkantha, Minister of Agriculture, Livestock, Land and Irrigation,  Pradeep Nilanga Dela, Diyawadana Nilame of the Sri Dalada Maligawa and a host of invited dignitaries and scholars from various fields.

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Police SI’s who demanded free service at a SPA interdicted

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It has been reported that three police officers holding the rank of Sub Inspector [SI] attached to the Matara Division Intelligence Unit  and the Thihagoda and  Mawarala police stations  have been interdicted following allegations of misconduct.

The three officers are alleged to have visited a Spa in the Walgama area in  Matara and demanded free service..

Based on a complaint received,  an internal investigation conducted by the Office of the Superintendent of Police in Matara found the officers guilty of misconduct and corrupt practices.

Further investigations into the incident are being conducted.

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Indictments served on former Minister Keheliya Rambukwella and family

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It has been reported that indictments have been served on former Minister of Health Keheliya Rambukwella, his wife,  three daughters and son-in-law  charged for acquiring wealth unlawfully.

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