News
India to ask for collateral to extend credit line for oil
By Shiran Ranasinghe
The Export-Import Bank of India (EXIM Bank) would ask Sri Lanka for a collateral to ensure the future supply of oil, a senior CPC officer told The Island.
The officials said that during the past few months, India had provided Sri Lanka with fuel worth USD 700 million.
The last fuel ship under the current Indian credit line arrived in Colombo yesterday with 40,000 tonnes of diesel.
The Sri Lankan government is trying to secure another Indian credit line worth USD 500 million.
Although the discussions are at the final stage, the Indians might ask for collateral given the deteriorating economic situation in Sri Lanka, the CPC official said.
Meanwhile, the Ministry of Power and Energy is taking steps to secure a ship carrying 40,000 tonnes of petrol to arrive in Colombo Port soon.
A CPC official told The Island that several ships carrying fuel had already arrived in Sri Lankan territorial waters.
“We are buying fuel under a new mechanism, which will apply to the shipment of petrol arriving on 19 June, ” he said. The Ministry had informed gas station owners that petrol would be released at least on a few days a week after the arrival of that shipment, he added.
Latest News
Fuel prices increased
The Ceylon Petroleum Corporation (CEYPETCO) has announced a revision of fuel prices, effective from midnight on Saturday (May 30).
Accordingly,
the price of Auto Diesel has been increased by Rs. 15 to Rs.407 per liter,
the price of Super Diesel has been increased by Rs. 20 to Rs. 478 per liter.
the price of Petrol 92 Octane has been increased by Rs. 24 to Rs. 434 per liter
the price of Petrol 95 Octane up by Rs. 25 to Rs. 495 per liter
the price of kerosene by Rs. 20 to Rs. 285 per liter.

News
Sangha reform drives stymied from within: CBK
Former President Chandrika Bandaranaike Kumaratunga has called for a comprehensive reform programme within Sri Lanka’s Buddhist clergy, warning that repeated efforts to strengthen the Sasana have in the past been derailed by opposition from within sections of the Sangha itself.
In a statement addressed to the Mahanayake Theras of the three Buddhist chapters, Kumaratunga stressed that the long-term preservation of Buddhism depends on safeguarding both the Dhamma and Vinaya, or disciplinary code, and urged urgent internal reform to address what she described as deep-rooted structural weaknesses.
She noted that Buddhist history has consistently demonstrated that periods of institutional crisis were addressed through reform processes, citing precedents from the First Buddhist Council to reforms during the Kandyan era under Welivita Sri Saranankara Thera.
Referring to post-independence efforts, Kumaratunga said initiatives taken during the 1956 Bandaranaike administration to strengthen Buddhism were left incomplete following the assassination of former Prime Minister S.W.R.D. Bandaranaike.
She further stated that during her own presidency, plans to convene a Buddhist Council under the guidance of the late Madihe Pannasiha Mahanayake Thera had received government backing but were ultimately abandoned due to resistance from certain sections within the clergy.
The former President alleged that, on both occasions, vested interests benefiting from existing weaknesses within the Buddhist establishment had worked to obstruct meaningful reform efforts.
Warning that Buddhism in Sri Lanka is currently facing serious challenges, she called for a broad internal dialogue within the Sangha to identify root causes and implement both short- and long-term corrective measures.
Kumaratunga urged the Mahanayake Theras to take the lead in convening a Dharma Sanghayana, or Buddhist Council, and said she was prepared to work with senior lay Buddhist leaders to support such an initiative.
News
Court orders arrest of Basil
The Colombo Fort Magistrate’s Court on Friday ordered the arrest of former Minister Basil Rajapaksa, Tourism Promotion Bureau Chairman Bhashwara Gunaratne, Managing Director Rumi Jauffer and several others over the alleged misuse of Rs. 7.8 million belonging to the Tourism Promotion Authority during the 2014 Uva Provincial Council election campaign.
Magistrate Pasan Amarasena directed the Criminal Investigation Department (CID) to arrest and produce the suspects before court, after it was informed that they would be named under the Public Property Act on the advice of the Attorney General.
The CID told court that attempts to take the suspects into custody from their residences had been unsuccessful as they were not present.
The Magistrate also imposed an overseas travel ban on the suspects and ordered that the Controller of Immigration and Emigration be notified.
Investigations have reportedly revealed that the funds were used to print 12,000 T-shirts bearing an image of former President Mahinda Rajapaksa on one side and the name of a political party on the other.
According to the CID, the T-shirts were later distributed at a political event held in the Monaragala District.
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