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Ex-BASL chief: SL loses USD 2 bn annually due to its failure to set up foreign universities

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One-time President of the Bar Association Upul Jayasuriya, PC, says the country lost about USD 2 bn a year due to the failure on the part of successive governments to allow the setting up of foreign universities here. Referring to the Government Medical Officers’ Association (GMOA), Jayasuriya, who once headed the BoI said that foreign universities attracted Sri Lankan students at a tremendous expense to the national economy. At any given time, there were more than 70,000 Sri Lankan students studying overseas.

Jayasuriya said so delivering the Daya Wettasinha memorial oration organised by the Sri Lanka-Japan Friendship Society backed by the Sri Lanka-Japan Business Council, at the Sasakawa Hall.

Jayasuriya faulted successive governments for having given in to pressure from the GMOA.

Several universities had been interested in setting up universities here. The PC said: “There was a famous British university that has been allocated 20 acres of land in the Mirigama Zone. They refused to start off. There was Manipal University and Deakin University that were extremely enthusiastic in starting their universities in Sri Lanka. They were all traumatised with the actions of this Trade Union that is a law unto itself in opposing SAITM. At the moment Sri Lanka has no hope of such educational institutes starting in Sri Lanka. This would have averted the dollar drain but we could have also earned much needed foreign investments and the inflow of dollars from prospective foreign students, particularly from India. It is vital as India has no international universities granting foreign degrees. If Sri Lanka can offer these foreign degrees, Indian parents would be so happy to send their children to Sri Lanka, rather than to European destinations particularly Australia where some of them are getting brutally assaulted and undergo cultural disparities.”

Referring to the then Sri Lankan Finance Minister JRJ’s famous San Francisco speech in 1951 in support of Japan, Jayasuriya emphasised Sri Lanka had received1.35 Trillion yen loan, approximately Rs. 270 Billion as grant aid, 108 Billion Technical Cooperation in addition to about 130 Japanese investments here. Daya Wettasinha, lawyer, businessman and more than anything else was a great human being. Wettasinghe was one of the select group of Sri Lankans to receive The Order of the Rising Sun. It is the third highest order bestowed by the Japanese government.

Commenting on current crises, Jayasuriya said that though Sri Lanka brought the war to a successful conclusion in May 2009, the country wasn’t able to achieve its true potential.

“For some people, with numerous personal bodyguards round the clock, fancy vehicles acquired with public funds whisking through crowded streets… probably now they fly about in helicopters or now in private Jets….and all other unimaginable means of luxurious living. People have entered a rat race with an insatiable greed for money and power. People are also self-indulgent and revel in false valour at the expense of the innocent peasantry, who perpetually struggle to make ends meet. Some get a sadistic delight displaying their prowess and money power. Those with Aston Martins, Lamborghinis, and Porsches have no qualms about displaying their wealth, and of course we have those who purchase iconic fashion merchandise such as, Louis Vuitton, Gucci and Giorgio Armani, while bare footed children walk their way to school in the hot sun. There are those who are without furniture, toilets or even water in the school. They can barely afford their meals. Where is our development, where are we heading?”

“Where have we failed? Let’s go back a few decades. We have had an excellent civil administration, highly commendable Judiciary, Police and Public service and a top tier education system. These we inherited from our colonial forefathers. Of course we could be proud of what we inherited. But where are we today? Is it that the systems have failed or the people have failed? I would say that the systems have deteriorated and failed the people. Our values have failed. Our expectations have failed, our attitudes have failed. In short, we have failed. I don’t blame anyone but ourselves. We are all to blame for it. ‘Mea culpa!’ ‘Mea maxima culpa’ Where is the problem? How do we resolve it?”

Jayasuriya also discussed how foreign capital could be attracted by offering resident visas to those interested in spending US$ 500,000 to make Sri Lanka a second home. Similar schemes were already practiced in Malaysia with US$ 80,000 whereas earlier it was only US$30,000. Similar facilities were available in many countries in the West and East, the PC said (SF)



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Poson Week will be observed from June 7 to June 13

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The Chief Incumbent of Mihintale Rajamaha Viharaya, Ven. Walawahengunawewa Dhammarathana Thero, expressed his appreciation to the government for its decision to hold the Poson Festival 2025 with full state patronage.

The Nayaka Thero made these remarks during a discussion held on Wednesday (21) at the Presidential Secretariat regarding the State Poson Festival 2025.

The meeting was attended by the Minister of Buddhasasana, Religious and Cultural Affairs , Dr. Hiniduma Sunil Senevi and Secretary to the President Dr. Nandika Sanath Kumanayake.

Venerable Dhammarathana Thero further reiterated that it is the responsibility of the government to reinstate the State Poson Festival, which has been on hold since 2023, and to safeguard it for the benefit of future generations.

The theme of this year’s State Poson Festival will be “May the world be enlightened by the teachings of Buddha.”

In line with the State Poson Festival, a series of religious programmes focusing on offerings of both material and doctrinal significance will commence from June 1.

Poson Week will be observed from June 7 to June 13. During this period, it was decided to close all liquor outlets in the Anuradhapura District to maintain the sanctity of the observances.

Special attention was also drawn to ensuring that all necessary facilities are provided for the thousands of pilgrims expected to visit Anuradhapura during the festival period.

Secretary to the President, Dr. Nandika Sanath Kumanayake, instructed state officials to take appropriate measures to facilitate the successful conduct of the State Poson Festival.

Senior Additional Secretary to the President Roshan Gamage, Director General of Buddhist Affairs R.M.P. Rathnayake and other Heads of institutions were also present at the occasion.

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‘India-UK FTA could adversely impact SL apparel exports’

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NEXT factory closure in Katunayake ominous sign: Trade Exprt

One-time Director General of Commerce, Gomi Senadhira, has warned that the Free Trade Agreement (FTA) between India and the United Kingdom, signed on 06 May, could cause a significant drop in Sri Lanka garment exports to the UK.

The FTA is expected to take effect in January 2026. In an exclusive article to The Island––carried in today’s edition––Senadhira has said that the FTA will provide India with a nearly 10 percent tariff advantage. India would gain at the expense of other exporters, including Sri Lanka, Sri Lanka’s former Permanent Representative to the World Trade Organisation, from January 2004 to December 2006, said.

Senadhira

The trade expert, contacted for comment, following the sudden closure of the NEXT Katunayake production unit, said it was an ominous sign. NEXT is the largest apparel retailer in the UK and perhaps NEXT factories are the only manufacturing plants owned by a British retailer in Sri Lanka.

Senadhira also chaired the WTO Committee on Trade and Development (2005). Prior to his appointment in Geneva, he served as the Minister (Commercial and Economic Affairs) in the Sri Lanka Mission to European Communities in Brussels (2001 – 2003) and the Embassy of Sri Lanka, Washington D.C. (1998 – 2001).

Senadhira has found fault with the government for its failure to address the issues at hand while underscoring the importance of public discussions with trade chambers, think tanks, exporters and the media.

The independent trade consultant has explained how Sri Lanka’s exports to the UK eroded over the years, primarily due to our failure to face competition from Bangladesh, Cambodia, Pakistan, Pakistan and Vietnam.

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Shritharan praises Canadian Tamil Genocide Monument and slams Sri Lankan politicians

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A weeping woman at a plaque put up in memory of those who had been killed allegedly by the military. MP Shritharan stands by her (pic courtesy Tamil Guardian)

Illankai Tamil Arasu Kachchi (ITAK) MP Shritharan recently condemned continued genocide denial by senior Sri Lankan politicians, the Tamil Guardian reported.

The lawmaker was addressing a remembrance event held in Neduntheevu to mark the 40th anniversary of the Kumuthini massacre.

“The Sinhala supremacists who claim that no genocide was committed against the Eelam Tamils are attempting to blind the eyes and conscience of the world,” Shritharan said, denouncing ongoing state-sponsored historical revisionism.

On the occasion, which commemorated the massacre of Tamil civilians aboard the Kumuthini vessel in 1984, Shritharan conveyed his gratitude to international actors who have supported Tamil efforts for justice and recognition.

In particular, he extended thanks to the Canadian Prime Minister and the Mayor of Brampton for their role in recognising the Tamil genocide.

Reflecting on the long arc of massacres carried out across the Tamil homeland, Shritharan stated:

“From the boat of Kumuthini, the seas of Gurunagar, Kokkilai, Chathurukondan, Vakarai, Navali, and Nagercoil, all the way to Mullivaikkal—massacres were carried out in waves, systematically annihilating Tamils one group at a time.”

He sharply criticised members of Sri Lanka’s current political leadership, stating:

“Even today, Sri Lanka’s Foreign Minister Vijitha Herath, along with Namal Rajapaksa and Ali Sabry, continue to shamelessly deny that a genocide took place in Tamil Eelam.”

Such statements, Shritharan said, constitute a blatant insult to the world’s conscience and reflect the deep-seated Sinhala hegemonic racism embedded within the ruling establishment.

In contrast to this denialism, Shritharan hailed the recent unveiling of a Tamil Genocide Memorial in Brampton, Canada, as a landmark in the global recognition of Tamil suffering and resistance.

“Amid such open racism from Sri Lanka’s ruling establishment, the establishment of a Genocide Memorial in Brampton serves as international testimony to the undeniable truth that what happened in Eelam was indeed genocide,” he declared.

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