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Cabinet nod for placing SOEs under holding company to fast-track restructuring

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By Rathindra Kuruwita

The Cabinet had approved a proposal to establish a holding company which will include all State Owned Enterprises (SOEs) that are to be restructured, Cabinet Spokesman, Minister Bandula Gunawardane said yesterday, addressing the post-Cabinet press briefing.

The proposal was presented by President Ranil Wickremesinghe, he said.

This holding company will be fully owned by the Treasury and will fast-track restructuring of SOEs, Minister Gunawardane said.

“We know that most SOEs are making huge losses and the burden of maintaining these ultimately falls on the taxpayer. This can’t go on. Whether we like it or not the state can’t continue to run these businesses,” he said.

Minister Gunawardane said that in 2022, President Wickremesinghe established a State-Owned Enterprise Restructuring Unit (SOERU) to restructure SOEs and allocated 200 million rupees to implement the proposal.

The SOERU has studied 60 key SOEs and has come up with a number of recommendations, the Cabinet Spokesman said.

“The new holding company will be established to carry out restructuring rapidly and efficiently.



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Navy intercept multi-day fishing trawler carrying 200kg of narcotics

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It has been reported that the Sri Lanka Navy has intercepted a multi-day fishing trawler carrying around 200kg of narcotics suspected to be heroin and crystal methamphetamine (‘Ice’) off the southern coast of the island.

The boat and crew  were to be brought to the Galle Harbour,

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Advisory for Severe Lightning issued to Western, Southern, Sabaragamuwa, Northern and North-western provinces and in Monaragala district today (12)

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Advisory for Severe Lightning issued by the natural hazards early warning center at 01.30 p.m. to 11.30 p.m. on 12 April 2024

Thundershowers accompanied by severe lightning are likely to occur at several places in Western, Southern, Sabaragamuwa, Northern and North-western provinces and in Monaragala district.

There may be temporary localized strong winds during thundershowers.

General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.

ACTION REQUIRED:

The Department of Meteorology advises that people should:
• Seek shelter, preferably indoors and never under trees.

• Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.

• Avoid using wired telephones and connected electric appliances during thunderstorms.

• Avoid using open vehicles, such as bicycles, tractors and boats etc.

• Beware of fallen trees and power lines.

• For emergency assistance contact the local disaster management authorities.
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Rear Admiral Princely Liyanage (Retd) sets Serendib World Record climbing Adam’s Peak in record time

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Rear Admiral Princely Liyanage (Retd) of the Sri Lanka Navy achieved a remarkable feat, setting a Serendib World Record for climbing Adam’s Peak (Sri Pada) in an impressive time of 23 hours and 46 minutes, using four different routes  (Nallathanniya, Erathna, Palabaddala, and Malingboda.)  as well as becoming the first person to complete the most ascents of Adam’s Peak within 24 hours.

He began his quest to set this record on 08th April, starting from the Nallathanniya Sri Pada entrance at 3:00 a.m all the way to the peak. His journey continued with climbs up and down the Erathna, Palabaddala, and Malingboda routes, ultimately concluding with the challenging trek from Adam’s Peak to Nallathanniya.

The Serendib World Records Committee officially acknowledged Rear Admiral Princely Liyanage’s (Retd) achievement and awarded him the Serendib World Record certificate on 09th April.

(Navy Media)

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