News
Central Bank urged to save collapsing local industries
The National Freedom Front (NFF) has requested the immediate intervention of the Governor of the Central Bank Ajith Nivard Cabraal to save micro, small and medium scale industries badly affected by the current economic downturn caused by the Covid-19.
The NFF parliamentary group comprises six members, including one National List.
Industries Minister Wimal Weerawansa, on behalf of the SLPP constituent parties, has warned of steep increase in unemployment, drop in the contribution made by small and medium scale industries to the national economy and the further widening of the gap between the rich and poor.
Party sources told The Island that the NFF had decided to take up the urgent matter because, in spite of repeated promises, those who had been severely affected were yet to receive assistance. Minister Weerawansa has urged the Central Bank to restructure loans obtained by affected industries and also extend the moratorium.
Weerawansa has in a letter dated Oct.18, told Cabraal that according to a survey conducted by the Industrial Development Board, micro, small and medium enterprises suffered serious setbacks. However, of the loans made available through the banking sector, a substantial segment had been disbursed among major players, the Minister said, while pointing out that in other countries in the region more than 50 percent of total loans were made available to micro, small and medium industries.
Unfortunately, here in Sri Lanka they received approximately 15 percent of the total given as loans, the minister said.
Minister Weerawansa said that though industries suffered, almost all state and private banks had recorded much improved performances with significant profits.
The Minister said that following his intervention with the cabinet of ministers, the government agreed on a plan of action to deal with the situation. It would be the responsibility of the Central Bank to implement the agreed proposals, he said.
(SF)
The Sri Lanka Bureau of Foreign Employment (SLBFE) recently apprehended a person who tried to entice youth, through parliamentarians representing the South, to join a non-existent project, involving Lions International, to secure employment in South Korea.
According to a statement issued by the SLBFE, the 49-year-old suspect has identified himself as a journalist. The SLBFE launched investigations after several MPs received letters (from the arrested person) requesting them to direct youth to an introductory programme that was to be held in Matara.
Those interested in joining the programme have been asked to pay Rs 20,000 each, while promising them vouchers worth Rs 35,000, issued by Lions International, for them to join Korean language classes.
The government has succeeded in securing the release of six fishers apprehended by Bangladesh while poaching in its waters in July last year.
Government sources said that the released fishermen were scheduled to return home today (02).
The group had set sail on 16 July, 2025, onboard the multi-day fishing vessel ‘Sudu Duwa 4,’ and were subsequently apprehended by the Bangladesh Navy.
The fishermen were detained at the Chittagong central jail, in Bangladesh.
Sources said that the release was made possible through successful diplomatic interventions, coordinated by the Ministry of Fisheries, Aquatic and Ocean Resources, the Ministry of Foreign Affairs, and the Sri Lankan High Commission in Bangladesh.
The Central Provincial Council has taken steps to auction 32 vehicles, including high-priced SUVs and vehicles deemed unfit for road use, imported for the Council in the past.
The Chief Secretary of the Central Provincial Council, Ajith Premawansha, stated that the bidding process opened yesterday, where over 30 vehicles, including high-valued Prado, Land Cruiser, and V8 models, were put up for auction.
It is reported that during this vehicle auction, bids exceeding Rs. 40 million were received for the super Prado and Land Cruiser models. These luxury vehicles were originally imported for the Chief Minister and Cabinet Ministers of the Central Provincial Council in the past. Following the dissolution of the Central Provincial Council, these luxury vehicles were released to certain politicians, in Kandy, under previous governments.
Due to the absence of a political authority, within the Central Provincial Council, these vehicles had subsequently been reserved for the official use of the Provincial Governor and top-level state officials of the Central Province.
The other vehicles sold at the auction were those condemned as unfit for road use.
There was a very high demand at this vehicle auction, with a particularly significant interest shown for ultra-luxury vehicles.
By S.K. Samaranayake
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