News

Japan regrets scrapping of ECT deal

Published

2 years ago

2021/02/4

Japanese Amb. meets Dinesh

Japan has expressed regret after Sri Lanka scrapped the 2019 deal with New Delhi and Tokyo for the development of the Colombo port’s East Container Terminal.

A Japanese Embassy official in Delhi responding to Indian news agency WION’, “expressed regret at the unilateral decision taken by Sri Lanka”.

The Sri Lankan cabinet on Monday unanimously approved that the East Terminal of the port will be developed solely by the Sri Lanka Port Authority (SLPA).

WION report:

“Meanwhile in the aftermath of the development, Japan envoy to Colombo Akira Sugiyama met with Sri Lankan Foreign Minister Dinesh Gunawardena on Wednesday to discuss a “range of matters relevant to the bilateral partnership between Sri Lanka and Japan”, a tweet from Sri Lankan MFA said.

Earlier over the weekend, Sri Lankan Prime Minister Mahinda Rajapaksa assured protesting local worker’s trade union that the terminal will not be sold or leased to any foreign entity.

In a tweet, he said, that the Lankan Ports Authority will maintain control of the ECT and the Sri Lankan govt “adheres strictly to its policy of retaining assets belonging to the govt”.

In 2019, India, Japan and Sri Lanka signed a trilateral Memorandum of Cooperation for development of the terminal under the former Maithripala Sirisena-Ranil Wickremesinghe govt.

Under the trilateral arrangement, a Sri Lankan govt PSU – Sri Lankan Port Authority will hold majority share with the remaining share being held between Japanese and Indian entities.

While India is yet to react on Colombo’s decision, ahead of the announcement by Sri Lankan Govt, a spokesperson of the Indian High Commission in Colombo “reiterated the expectation of Government of India for expeditious implementation of the trilateral Memorandum of Cooperation (MOC)” signed in May 2019

Pointing out to the “commitment of Government of Sri Lanka in this regard has been conveyed several times in the recent past, including at the leadership level… All sides should continue to abide by the existing understandings and commitment.”

Meanwhile, the Sri Lankan government, perhaps as a compensatory offer has said it would involve India and Japan for development of Colombo port’s West Container terminal.

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News

Stay on course and don’t go back to the past – Dr Indrajit Coomaraswamy

Published

3 hours ago

2023/03/24

Priyan

Former Governor of the Central Bank delivering the keynote address at a high profile Webinar hosted by the Central Bank of Sri Lanka today (24) said that Sri Lanka must implement the structural reforms proposed by the International Monetary Fund (IMF) without relaxing like in the past or else we will be in a deeper economic mess.

The webinar was titled ‘What is next for Sri Lanka in the wake of the IMF programme’

News

Sustainable economic development goals cannot be achieved unless attention is paid to mitigating climate change – Sagala Ratnayake

Published

3 hours ago

2023/03/24

Priyan

President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Ratnayake said sustainable economic development goals cannot be accomplished without taking steps to mitigate climate change.

He said this while participating in the 10,000 sapling planting program organized by the LEO Youth Vision 2048 Club and the LEO Club at the Royal College, Colombo on Thursday (23rd).

This program was organized in view of President Ranil Wickremesinghe’s birthday, which is today (24), and the required plants were distributed to the main schools of the Colombo District.

News

SF claims thousands of police and military personnel leaving

Published

15 hours ago

2023/03/24

Thilina Walpola

By Saman Indrajith

Thousands of police and military personnel had left the services recently as they did not want to carry out illegal orders, Field Marshal Sarath Fonseka told Parliament yesterday. According to the war-winning army commander 200 policemen have resigned during the past two months and 25,000 soldiers have left the army during the last two years.

“We urged the law enforcement and military officials not to follow illegal orders. We will reinstate them with back pay,” he said.

Fonseka also urged the President and the government MPs not to take people for fools.

“Sri Lanka owes 55 billion dollars to the world. Ranil’s plan is to borrow another seven billion during the next four years. So, in four years we will owe 62 billion to the world.

Ranil and his ministers ask us what the alternative to borrowing is. These are the people who destroyed the economy and society. They must leave. Then, we will find an alternative and develop the country,” he said, adding that the IMF loans had made crises in other nations worse.

“Ranil says that by 2025, we will have a budget surplus as in Japan, Germany and South Korea. These countries are economic power houses, and this comparison is ludicrous.”