News
Foreign Ministry mum on Russian proposal to build cost effective advance nuclear reactor
By Rathindra Kuruwita
Sri Lanka has capable engineers to operate a nuclear power plant and these power plants are very safe, Prof. S.R.D. Rosa, Chairman, Sri Lanka Atomic Energy Board (SLAEB), said during a recent seminar organised by the Institution of Engineers Sri Lanka (IESL) on ‘Potential of nuclear energy and its challenges in Sri Lanka.’
Prof. Rosa said that many erroneously believed that Sri Lanka did not have the human resources to operate and maintain a nuclear power plant.
“Of course, if we start a nuclear power plant we will have to get help from others initially. We need to work on public perception because many people assume nuclear power plants explode all the time. Nothing can be further from the truth.”
Rosa said nuclear power plants were regulated strictly. The SLAEB had started to amend the Lanka Atomic Energy Act as the current Act does not permit nuclear power plants in the country, he said.
“If we are going for nuclear power the Act has to change and the government has started the amendment process. This is chaired by Justice Sobitha Rajakaruna and I am also a member. We hope to finish the amendments by July,” he said.
Rosa added they have received a number of proposals to construct nuclear plants in Sri Lanka. Russia’s Rosatom, China’s China National Nuclear Corporation (CNNC), France’s Électricité de France (EDF), and Denmark’s Seaborg have submitted proposals. USA’s Ultra Safe Nuclear Corporation (USNC) and Canada’s Atomic Energy of Canada Ltd (AECL) have expressed willingness.
“The proposal from Russia is a very comprehensive and a complete proposal. Russia is building two nuclear power plants in Bangladesh and one in Kudankulam, India, which is only about 207 kilometres from Kalpitiya. I think the Russians also want us to join their regional efforts. We had many discussions with Rosatom officials, including many Zoom sessions, and finalized the proposals. To finalize this, we need to sign intergovernmental agreements (IGA). We sent the proposal to the Foreign Ministry six or seven months back, but we still have not got an answer. It’s probably because of the Russia-Ukraine war and IMF, etc.”
Sri Lanka has also received a complete proposal from China and representatives from CNNC visited Sri Lanka about two months ago. The CNNC officials met SLAEB and even brought a prototype, Rosa said.
“EDF, too, has sent a proposal. We then have a unique proposal from Denmark. Seaborg Technologies is a private Danish startup. They are building barges or floating nuclear power plants. Seaborg Technologies is working on building power plants in Vietnam, and Indonesia and wants to build a third one for Sri Lanka.”
Rosa said USNC and AECL have sent proposals of willingness, but they are not complete or comprehensive proposals. Sri Lanka now has received six proposals. Seaborg has offered a power barge, Russia has offered Sri Lanka both onshore and offshore power plants, while the others have proposed conventional nuclear power plants, he mentioned.
“We have to also think about the prices. There is no point in building a nuclear power plant if the unit cost is about 60 rupees. The problem is that no one gives the exact price unless you sign a Non-Disclosure Agreement (NDA) or a Memorandum of Understanding (MoU). Russians have offered us several options, depending on our requirements. If we go with the offshore plant, Russians will build and bring if here and we will have to sign a 10- or 20-year MoU. We have asked the price but they have not given us an exact price. However, we looked at the nuclear power plants Russians have built in Bangladesh, the unit price is between 27 to 30 Sri Lankan rupees.”
He added that China and Russia are the only countries that have successfully built operational Small Modular Reactors (SMRs), advanced nuclear reactors that have a power capacity up to 300 MWs per unit.
Rosa said that they have prepared a Cabinet paper and that they have asked the government to take a “strategic and visionary” decision on generating electricity from nuclear power as a policy. They have also asked the government to invite expressions of interest from government institutions of suitable countries producing nuclear power plants compatible with the technical, economic, social, environmental and legal conditions of Sri Lanka and that can provide an integrated solution, including fuel cycle options and radioactive waste management options.
“We want a clear-cut policy approval from the government. We asked the government and they have approved. Since we have so many proposals, what the government said was to ask for Expressions of Interests (EOIs). Because if we only go with Russians there would be complications. Some may not like it. The Cabinet has also approved the decision to call EoIs. We had already prepared the EoI and since we have got the Cabinet approval, we can go for it.”
Rosa added Sri Lanka needs nuclear power to have a stable source of energy and that nuclear power plants would complement renewable energy.
“My personal opinion is that we should go for an offshore nuclear power plant first and then move to an onshore power plant. This is not the stance of the SLAEB. This is because selecting a land may be an issue because of public perceptions. Another thing to consider is that Thorium-based nuclear power plants are becoming very popular. India has a lot of thorium. Even Sri Lanka has a lot of thorium,” he said.
News
Removing monk’s robes matter for Sangha to decide: Mahanayake Theras
The Mahanayaka Theras of all Nikayas have protested against Bodu Bala Sena (BBS) General Secretary Ven. Galagodaaththe Gnanasara Thera, who is serving a prison sentence for contempt of court, being produced before court in civilian attire.
In a letter to the Commissioner General of Prisons, the Mahanayaka Theras have said they were surprised and concerned by the decision to remove the monk’s robes.
The letter has been signed by Most Ven. Thibbotuwawe Sri Siddhartha Sumangala Thera of the Malwatu Chapter, Most Ven. Warakagoda Sri Gnanarathana Thera of the Asgiri Chapter, Most Ven. Karagoda-Uyangoda Maithri Murthi Thera of the Amarapura Maha Nikaya and Most Ven. Makulawe Sri Wimala Thera of the Ramanna Maha Nikaya.
The Mahanayaka Theras have said they respect the Constitution and the judicial process, but maintained that removing a monk’s robes or ending his status as a member of the Buddhist Order is a matter that should be decided by the Maha Sangha.
They have said the relevant Sangha Council has not determined that Ven. Gnanasara Thera committed a Parajika offence or any other offence warranting his removal from the Buddhist Order.
The Mahanayaka Theras have also referred to Regulation 550 of the Prison Standing Orders, which they say stipulates that convicted prisoners should not be taken to court in prison uniform and should be allowed to wear the type of clothing they normally wore before their conviction. In the case of a Buddhist monk, they have said, this means his monastic robes.
They also referred to the United Nations Standard Minimum Rules for the Treatment of Prisoners, which provide for prisoners taken outside prison to be allowed to wear their own clothing or other unobtrusive clothing.
The Mahanayaka Theras have requested the Commissioner General of Prisons to allow Ven. Gnanasara Thera to wear his robes when appearing in court and to maintain his status as a monk while he remains in prison.
Prisons authorities have said that the clothing decision was made under prison regulations, and the Prisons Department has stated that prisoners serving sentences of more than three years are required to wear prison-issued clothing when produced before court.
News
NDB fraud Rs 60mn more than reported
The Committee on Public Finance has said that the actual losses suffered by the NDB bank are much more than what was initially reported. When compared with the initial disclosure made by NDB on 6 April 2026, the reported amount of the fraud had increased by Rs. 0.4 billion, from Rs. 13.2 billion to Rs. 13.6 billion, the committee said.
When compared with the amount disclosed by NDB on 26 June 2026, based on the interim report dated 22 June 2026, the additional amount of fraud is Rs. 60 million.
The has committee issued the following statement: The Committee on Public Finance recently summoned officials of the Central Bank of Sri Lanka to Parliament to inquire into the financial irregularities identified at NDB Bank and the final audit report relating to the matter.
The Committee meeting, chaired by Member of Parliament Dr. Harsha de Silva, discussed irregularities identified in NDB Bank’s financial statements, shortcomings in the audit process, and the relevant audit reports.
The meeting was attended by Deputy Ministers Chathuranga Abeysinghe, Dr. Kaushalya Ariyaratne, and Nishantha Jayaweera, as well as Members of Parliament Attorney-at-Law Rauff Hakeem, Ravi Karunanayake, Ajith Agalakada, Nimal Palihena, Wijesiri Basnayake, M.K.M. Aslam, Champika Hettiarachchi, and Attorney-at-Law Lakmali Hemachandra.
The Committee also focused on the findings of the investigation conducted by the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAAMB), as well as the findings revealed through the investigation conducted by Deloitte Touche Tohmatsu India LLP. In particular, the Committee inquired into the failure of the external auditors to identify irregularities in NDB Bank’s financial statements.
The accountability of senior management with regard to corporate governance and risk management in relation to the financial irregularities was also discussed.
As a significant proportion of NDB Bank’s shares are held by institutions representing public and state funds, the Committee also considered the potential impact of such financial irregularities on public funds and the general public.
The Committee also discussed the progress made by LankaPay in establishing a centralized fraud monitoring system to prevent fraud within the financial system. The need to strengthen fraud monitoring systems at the individual bank level to monitor transactions carried out within each bank was also emphasized.
Accordingly, the following observations are included in the final audit report concerning the financial irregularities at NDB Bank:
1. The audit covers the period from 1 April 2016 to 31 March 2026. The audit report specifically identifies the financial impact arising from fraudulent transactions amounting to Rs. 13,639,664,684 (Rs. 13.6 billion).
2. According to the disclosure made on 29 September 2026, the financial impact arising from the fraudulent transactions is as follows:
· Rs. 1.5 billion for the period prior to 1 January 2025;
· Rs. 9.6 billion during 2025; and
· Rs. 2.5 billion for the quarter ended 31 March 2026.
3. Compared with the initial disclosure made by NDB on 6 April 2026, the reported amount of the fraud has increased by Rs. 0.4 billion, from Rs. 13.2 billion to Rs. 13.6 billion. Compared with the amount disclosed by NDB on 26 June 2026, based on the interim report dated 22 June 2026, the additional amount of fraud is Rs. 60 million.
4. The final audit report has also confirmed the previous disclosures that no customer accounts were affected as a result of the fraud incident.
5. The report has identified several governance failures at NDB relating to the processing of CEFT transactions, user-level activities within the Core Banking System, and the management of user credentials and access information. In addition, shortcomings have been identified in several operational areas, including transaction monitoring, daily account reconciliation, financial compliance, internal audit, branch network management, and operational risk management.
The audit report has made comprehensive recommendations to strengthen the control mechanisms, governance structures, and processes relating to the above-mentioned activities of the bank.
News
President orders review of laws on treatment of imprisoned monks
President Anura Kumara Dissanayake has ordered the formation of a committee to review the laws and regulations on how Buddhist monks serving prison sentences are treated, including the procedures that apply when they are taken out of prison.
He revealed this at a special meeting with Maha Sangha representatives held yesterday (8) at the Presidential Secretariat. The meeting was called after concerns were raised over how Ven. Galagoda Aththe Gnanasara Thera was treated when he was taken from prison to court.
The committee will recommend amendments to existing laws and, where needed, new prison standing orders and regulations. Its members will be drawn from the Attorney General’s Department, the Ministries of Justice, Public Administration, and Buddha Sasana, Religious and Cultural Affairs, and the Department of Prisons, including the Commissioner General of Prisons. It has been given two weeks to review the current legal provisions and submit its recommendations. The President added that any changes specific to Buddhist monks would be made in consultation with the Maha Sangha.
Outlining the legal background, the President said prison administration was governed by the Prisons Ordinance of 1877, along with the regulations and standing orders issued under it. That framework mostly addressed prisoners in general, he said, and had few provisions dealing specifically with Buddhist monks.
The meeting was attended by senior Maha Sangha members representing the Siyam, Amarapura and Ramanna Nikayas, along with Minister of Buddhasasana, Religious and Cultural Affairs Hiniduma Sunil Senevi and Minister of Justice Harshana Nanayakkara.
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