News
Lanka and China strengthen economic ties at high-level Colombo forum
The Sri Lanka – China Trade and Investment Forum 2025, held on Friday in Colombo, brought together over 115 senior representatives from 77 leading Chinese enterprises alongside key members of Sri Lanka’s public and private sectors. The high-level event was co-hosted by The Ceylon Chamber of Commerce, the Department of Commerce of Sri Lanka, the Sri Lanka–China Business Council of the Ceylon Chamber, and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME).
The Forum was inaugurated in the presence of Dr Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Economic Development, Wang Wentao, Minister of Commerce of the People’s Republic of China, Chinese Ambassador Qi Zhenhong and Krishan Balendra, Vice Chairman of The Ceylon Chamber of Commerce.
Welcoming the delegation, Minister Jayantha highlighted Sri Lanka’s deep-rooted friendship with China, noting that bilateral ties are built on “shared values, mutual respect, and a history of growing economic cooperation.” Referring to the recent 8th Session of the China-Sri Lanka Joint Committee on Economic and Trade Cooperation, held just ahead of the Forum, he highlighted the importance of continuous dialogue in enhancing trade and investment flows between the two nations.
Minister Wentao emphasized that China stands ready to support Sri Lanka’s development journey, recommending that the two countries expand trade and economic cooperation to boost development, and explore more opportunities for multilateral trading systems in order to ensure resilience and sustainability.
Krishan Balendra, Vice Chairman of the Ceylon Chamber, echoed the Minister’s sentiments, emphasising the Chamber’s commitment to enabling cross-border partnerships and offering a platform for constructive engagement. “We are creating a conducive environment for doing business, underpinned by transparency, predictability, and sustainability,” he noted.
The Chinese delegation, representing four major trade chambers – CCCME, China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-products, China Chamber of Commerce for Import and Export of Textiles, and the China International Chamber of Commerce for the Private Sector – expressed strong interest in forming partnerships across a wide array of sectors.
The Forum also facilitated B2B meetings and discussions on investments in the automotive value chain, tea plantation and enterprise development, and partnerships in renewable energy, clean technology, engineering, construction, and water treatment.
Latest News
Landslide Early Warnings issued to the Districts of Badulla, Kandy, Matale, Monaragala and Nuwara Eliya
The Landslide Early Warning Center of the the National Building Research Organaisation [NBRO] has issued landslide early warnings to the districts of Badulla, Kandy, Matale, Monaragala and Nuwara Eliya for a period of 24 hours effective from 1200 noon today [07th January].
Accordingly,
LEVEL III RED landslide early warnings have been issued to the divisional secretaries divisions and surrounding areas of Udadumbara in the Kandy district, and Nildandahinna and Walapane in the Nuwara Eliya district.
LEVEL II AMBER landslide early warnings have been issued to the divisional secretaries divisions and surrounding areas of Kandaketiya in the Badulla district, Wilgamuwa in the Matale district, and Mathurata and Hanguranketha in the Nuwara Eliya district.
LEVEL I YELLOW landslide early warnings have been issued to the divisional secretaries divisions and surrounding areas of Meegahakiwula, Lunugala, Welimada, Passara, Badulla and Hali_Ela in the Badulla district, Doluwa in the Kandy district,Ambanganga Korale in the Matale district, and Bibile in the Monaragala district
News
Prez seeks Harsha’s help to address CC’s concerns over appointment of AG
Chairman of the Committee on Public Finance (CoPF), MP Dr. Harsha de Silva, told Parliament yesterday that President Anura Kumara Dissanayake had personally telephoned him in response to a letter highlighting the prolonged delay in appointing an Auditor General, a vacancy that has remained unfilled since 07 December.
Addressing the House, Dr. de Silva said the President had contacted him following the letter he sent, in his capacity as CoPF Chairman, regarding the urgent need to appoint the constitutionally mandated head of the National Audit Office. During the conversation, the President had sought his intervention to inform the Constitutional Council (CC) about approving the names already forwarded by the President for consideration.
Dr. de Silva said the President had inquired whether he could convey the matter to the Constitutional Council after their discussion. He stressed that both the President and the CC must act in cooperation and in strict accordance with the Constitution, warning that institutional deadlock should not undermine constitutional governance.
He also raised concerns over the Speaker’s decision to prevent the letter he sent to the President from being shared with members of the Constitutional Council, stating that this had been done without any valid basis. Dr. de Silva subsequently tabled the letter in Parliament.
Last week, Dr. de Silva formally urged President Dissanayake to immediately fill the Auditor General’s post, warning that the continued vacancy was disrupting key constitutional functions. In his letter, dated 22 December, he pointed out that the absence of an Auditor General undermines Articles 148 and 154 of the Constitution, which vest Parliament with control over public finance.
He said that the vacancy has severely hampered the work of oversight bodies such as the Committee on Public Accounts (COPA) and the Committee on Public Enterprises (COPE), particularly at a time when the country is grappling with a major flood disaster.
As Chair of the Committee responsible for overseeing the National Audit Office, Dr. de Silva stressed that a swift appointment was essential to safeguard transparency, accountability and financial oversight.
In a separate public statement, he warned that Sri Lanka was operating without its constitutionally mandated Chief Auditor at a critical juncture. In a six-point appeal to the President, Dr. de Silva emphasised that an Auditor General must be appointed urgently in the context of ongoing disaster response and reconstruction efforts.
“Given the large number of transactions taking place now with Cyclone Ditwah reconstruction and the yet-to-be-legally-established Rebuilding Sri Lanka Fund, an Auditor General must be appointed urgently,” he said in a post on X.
By Saman Indrajith
News
Govt. exploring possibility of converting EPF benefits into private sector pensions
The NPP government was exploring the feasibility of introducing a regular pension, or annuity scheme, for Employees’ Provident Fund (EPF) contributors, Deputy Minister of Labour Mahinda Jayasinghe told Parliament yesterday.
Responding to a question raised by NPP Kalutara District MP Oshani Umanga in the House, Jayasinghe said the government was examining whether EPF benefits, which are currently paid as a lump sum at retirement, could instead be converted into a system that provides regular payments throughout a retiree’s lifetime.
“We are looking at whether it is possible to provide a pension,” Jayasinghe said, stressing that there was no immediate plan to abolish the existing lump-sum payment. “But we are paying greater attention to whether a regular payment can be provided throughout their retired life.”
Jayasinghe noted that the EPF was established as a social security mechanism for private sector employees after retirement and warned that receiving the entire fund in a single installment could place retirees at financial risk, particularly as life expectancy increases.
He also cautioned that interim withdrawals from the EPF undermined its long-term sustainability. “Even the interim payments that are given from time to time undermine the ability to give security at the time of retirement,” he said, distinguishing the EPF from the Employees’ Trust Fund, which provides more frequent interim benefits.
Addressing concerns over early withdrawals, the Deputy Minister explained that contributors have been allowed to withdraw up to 30 percent of their EPF balance since 2015, with a further 20 percent permitted after 10 years, subject to specific conditions and documentary proof.
Of 744 applications received for such withdrawals, 702 had been approved, he said.
The proposed shift towards an annuity-based system comes amid broader concerns over Sri Lanka’s ageing population and pressures on retirement financing. While state sector employees receive pensions funded by taxpayers, including EPF contributors, the EPF itself has been facing growing strain as it is also used to finance budget deficits.
Jayasinghe said the government’s focus was to formulate a mechanism that would ensure long-term income security for private sector employees, placing them on a footing closer to a pension scheme rather than a one-time retirement payout.
-
News2 days agoBroad support emerges for Faiszer’s sweeping proposals on long- delayed divorce and personal law reforms
-
News2 days agoInterception of SL fishing craft by Seychelles: Trawler owners demand international investigation
-
News3 days agoPrivate airline crew member nabbed with contraband gold
-
News24 hours agoPrez seeks Harsha’s help to address CC’s concerns over appointment of AG
-
News24 hours agoGovt. exploring possibility of converting EPF benefits into private sector pensions
-
News5 days agoHealth Minister sends letter of demand for one billion rupees in damages
-
Opinion7 days agoRemembering Douglas Devananda on New Year’s Day 2026
-
Features2 days agoEducational reforms under the NPP government
