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Champika claims highest tower in South Asia a white elephant
MP Patali Champika Ranawaka says the Colombo Lotus Tower would require earning a daily-revenue of US$ 41,000 for the next five years in order to cover the loans obtained for its construction.
At a meeting with the executive members of the Sri Lanka Parliamentary Journalists’ Association recently, MP Ranawaka said that a total of US$ 105 million was spent on the tower and a further US$ 56 million is required to settle the loan in the next five years.
” It’s a waste for a country like ours. We need to talk separately about the corruption that took place in this,” the MP said.
The proposal to construct the Colombo Lotus Tower estimated the total cost of the project at Rs 9.3 billion at the time, while it did not include land.
There didn’t appear to be a “proper assessment” of the income that could be generated once the facility was completed as well.
The required “proper” feasibility study was never conducted and a special Government audit in 2019 found only financial feasibility carried out by the Project Consultancy Unit (PCU) for free.
The interest on the China EXIM Bank’s loan was four percent plus prevailing LIBOR, but the financial feasibility calculated borrowing cost at 3.5 percent, causing a significant understatement of over Rs. 500 million.
The report hadn’t considered loan interest for the period of disbursement; neglected to include management and commitment fees for unutilized loan amounts; understated insurance costs by over Rs. 680 million; and overstated the present value of budgeted income by more than Rs 2 billion.
The Colombo Lotus Tower remains on the list of Sri Lanka’s failed taxpayer-funded and multibillion rupee vanity projects that have direct political backing.
The Lotus Tower at present is owned by the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) but managed by the Lotus Tower Management Company (Pvt) Ltd (LTMC) under the Treasury, with an independent Board of Directors.
The Treasury has now allocated Rs 500 million to Lotus Tower Management Company (Pvt) Ltd (LTMC).
The Colombo Lotus Tower has been rebranded as the epicenter of technology and entertainment with expected income chiefly from rent.
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Landslide early warnings issued to the Districts of Badulla, Kandy, Matale and Nuwara Eliya
The Landslide Early Warning Center of the National Building Research Organisation [NBRO] has issued landslide early warnings to the districts of Badulla, Kandy, Matale and Nuwara Eliya for the next 24 hours commencing at 1200hrs today [08]
Accordingly
LEVEL II AMBER landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Ududumbara in the Kandy District, Wilgamuwa in the Matale District, and Nildandahinna and Walapane in the Nuwara Eliya District.
LEVEL I YELLOW landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Meegahakiwula, Welimada, Kandaketiya, Lunugala, Badulla, Passara, Uva Paranagama and Hali_Ela in the Badulla District, Ambanganga Korale in the Matale District, and Mathurata and Hanguranketha in the Nuwara Eliya District.
Warning for deep depression over South-east Bay of Bengal Sea area.
Issued by the Natural Hazards Early Warning Centre, Department of Meteorology at 10.30 a.m. on 08 January 2026 for the period until 10.30 a.m. 09 January 2026
The depression in the Bay of Bengal to the southeast of Sri Lanka has intensified into a deep depression and is centered near latitude 5.4°N and longitude 85.3°E, about 420 km southeast of Pottuvil at 05.30 a.m. today (08th). The above system is currently (10:00 a.m.) located about 300 km southeast of Pottuvil.
It is very likely to move west-northwestwards across the southwest Bay of Bengal and cross the Sri Lanka coast between Hambantota and Kalmunai between 5.30 p.m. to 11.30 p.m. on Friday [9th January 2026].
Hence, showery, and windy condition over the island, particularly in the Northern, NorthCentral, Eastern, Uva and Central provinces is expected to enhance from today (08th).
For the Land area:
DAMAGE EXPECTED:
• Damage to huts, temporary shelters and light structures
• Destroy the roof tops/ sheets etc.
• Damage to power and communication lines.
• Breaking of tree branches and uprooting of large avenue trees.
• Damage to paddy crops, banana, papaya trees and orchards.
• Damage to harbor yachts
• Flash flood
• Sea water inundation in low lying areas in the near coast.
Action suggested for the Land area:
• Coastal hutment dwellers are advised to move to safer places. Other people in the affected areas to remain indoors.
• People living in hilly areas (particularly landslide prone areas) and low lying areas in river basins are requested to be vigilant.
• Drivers and people using roads in the hilly areas are requested to be vigilant.
• Beware of fallen trees and power lines.
• Avoid using wired telephones and connected electric appliances during thunderstorms.
• General public is requested to be vigilant regarding impending extreme weather situation.
• For emergency assistance contact the local disaster management authorities.
• Requested to be attentive about future advisories issued by the Department of Meteorology in this regard.
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Showers above 100 mm are likely at some places in the Eastern and Uva provinces and showers about 50-75 mm in other areas
WEATHER FORECAST FOR 08 JANUARY 2026
Issued at 05.30 a.m. on 08 January 2026 by the Department of Meteorology
The depression over the Bay of Bengal, located to the southeast of Sri Lanka, was centered near latitude 5.3°N and longitude 86.0°E, about 490 km southeast of Pottuvil, at 11:30 p.m. yesterday (07). It is expected to move west-northwestwards and towards the eastern coast of the island during next 24 hours. This system is likely to intensify further into a deep depression during the next 12 hours.
Cloudy skies can be expected over most parts of the island.
Showers or thundershowers will occur at times in the Northern, North-central, Eastern, Uva, Central and Southern provinces. Showers or thundershowers may occur at several places elsewhere in the Island after 1.00 p.m. Heavy showers above 100 mm are likely at some places in the Eastern and Uva provinces. Fairly Heavy showers about (50 – 75) mm are likely at some places in the other areas of the island.
Strong winds about (50-60) kmph can be expected at times over the Eastern slopes of the central hills, the Northern, North-central, North-western and Eastern provinces and in Hambantota, Gampaha, Colombo and Monaragala districts.
The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
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