Business

Johnston says no opposition in the world can match Sri Lanka’s when it comes to hypocrisy

Published

5 years ago

2021/04/12

Chief Government Whip and Highways Minister Johnston Fernando says that there is no Opposition in other parliaments that could match Sri Lanka’s when it comes to hypocrisy.

Speaking at ceremony to hand over letters of appointment to newly recruited superintendents of the Road Development Authority, at his Ministry the Minister said: “Our government under President Gotabaya Rajapaksa has given 40,000 jobs. In the second phase we will give jobs to 60,000 more and that would complete the pledge that we made to give 100,000 jobs. The Opposition would not see such work but goes repeating the same allegation that we do nothing. In addition, we are giving jobs to 67,000 graduates who are still unemployed. We do not consider political background of those unemployed graduates when giving jobs to them. President Rajapaksa will be remembered as a leader who fulfilled his promises without giving consideration to partisan politics.

“In constructing the Ruwanpura Expressway, we awarded the tender to a bidder who placed a bid 15 billion rupees less. Now, the Opposition criticizes us for giving the tender to the lowest bid. That’s its way. They would blame us if we give the tender to the highest bidder, or the lowest bidder or even to a bidder in the middle. That is their political hypocrisy.

“Some Opposition MPs are lamenting that the government revenue is low. We have not increased taxes despite the government revenue being low because we do not want to burden the people. Anyone with little knowledge of economics will understand that increasing public revenue by way of tax revenue is to take the money out of the pockets of people to fill the government coffers. We do not want to increase the public revenue in this manner.

“It is while shouldering economic burdens that we continue to develop this country and provide jobs to people. It is not easy, but we know that we can do this and achieve what we have promised to people in the election time. We have recruited workers to the RDA at a time when the economy is facing severe hardships, and we hope that you would render your duties to the public keeping in mind that we are under obligation to develop this country and serve the people. You could be from any political party but that does not count when you discharge your duties. You are young and capable of contributing your share to develop our motherland and to make this a better place.”

Among those present were Secretary to the Ministry of Highways R.W.R. Pemasiri, Director General of RDA Sardha Weerakoon and other senior officials.

All News Advertisement

Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

12 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

12 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

12 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.