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Ministerial committee appointed to review and further enhance ‘State Commercial Enterprises Management draft bill’

It has been recognized that the state enterprises should be re – structured and maintained with proper administration with the assistance of local or foreign investments without being a continuous burden to the General Treasury and the country’s economy. Therefore, it is the policy of the new government to introduce an efficient and accountable mechanism in the regard. An initial draft named “State Commercial Enterprises Management Draft Bill” has been already prepared to introduce a new legal framework required for maintaining after performing necessary restructuring and with proper management of government owned business companies. Thereon, it will be possible to totally free the state entrepreneurship establishments from political influences and appoint professionals with proficiency for its board of directors.
Accordingly, the Cabinet of Ministers approved the proposal furnished by the President in his capacity as the Minister of Finance, Plan Implementation and Economic Development to grant policy approval of the Cabinet of Ministers for the said initial draft and appoint a special committee with the following composition to submit appropriate proposals for further enhancing after reviewing the initial draft:
• Hon. (Dr.) Anil Jayantha Fernando, Minister of Labour and the Deputy Minister of Economic Development – (Chairman)
• Hon. Sunil Handunneththi Minister of Industries and Entrepreneurship
• Hon. Wasantha Samarasinghe Minister of Trade, Commerce, Food Security and Co – operative Development
• Hon. (Dr.) Harshana Sooriyapperuma Deputy Minister of Finance Plan Implementation
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Veteran actress Malini Fonseka passes away at the age of 76

It has been reported that veteran Sri Lankan actress and former member of parliament, Malini Senehelatha Fonseka, popularly known as ‘Malini Fonseka’ or the “Queen of Sri Lankan Cinema,” has passed away this morning (24) at the age of 76, while receiving treatment at a private hospital in Colombo.
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Duminda Dissanayake arrested after recovery of gold plated T-56 rifle

The Terrorism Investigation Division (TID) has begun extensive questioning of former Minister Duminda Dissanayake regarding how he came into possession of a gold-plated T-56 assault rifle and for what purpose it was hidden, after the weapon was seized from a house in the Havelock City luxury housing complex in Colombo.
Investigations have revealed that this T-56 rifle had been hidden for a long time at an official ministerial residence located in Bambalapitiya, which was previously assigned to Dissanayake.
Following the change in government, it was discovered that the former Minister had sent the T-56 rifle through his personal aide to the residence of a 68-year-old woman living in the Havelock City complex, after vacating his official residence.
The aide is reported to have placed the weapon in a travel bag and carried it on foot from the Bambalapitiya ministerial residence to the Havelock City apartment, where it was handed over to the woman.
Subsequent investigations into the T-56 rifle, which was recovered from the Havelock City residence, confirmed that the weapon belonged to former Minister Duminda Dissanayake, leading to his arrest and the commencement of further inquiries.
At that time, the Minister’s aide had also been taken into custody and provided full details regarding the weapon.
According to the aide’s statement to the police, he had been instructed by the former Minister to deliver the bag containing the weapon to the woman at the Havelock City residence during the process of clearing belongings from the official residence.
In line with this information, TID officers inspected a house in Kotte yesterday morning, but the former Minister was not found there. He was later arrested at a luxury residence in Thimbirigasyaya during a follow-up search.The Terrorism Investigation Division continues to carry out further investigations in connection with the case.
By Norman Palihawadane and Hemantha Randunu
News
IMF signals difficult obstacle course for Lankan government to complete, including power tariff hikes to ensure cost recovery

The International Monetary Fund (IMF) says that the approval for the fourth review of Sri Lanka’s programme, under the Extended Fund Facility (EFF), is contingent on the government completing prior actions, including restoring electricity cost recovery pricing.
Addressing the IMF’s weekly press briefing on Thursday the IMF spokesperson Julie Kozack stated that the completion of the review is subject to approval by the executive board and that the IMF expects the board meeting to take place in the coming weeks.
However, Kozack noted that the precise timing of that board meeting is contingent on two things – the first is the implementation of prior actions. She stated that the main prior actions are relating to restoring electricity cost recovery pricing and ensuring proper function of the automatic electricity price adjustment mechanism.
The second contingency is the completion of the financing assurances review which will focus on confirming multilateral partners committed financing contributions to Sri Lanka and whether adequate progress has been made in debt restructuring, the IMF spokesperson highlighted.
“So in a nutshell, completion of the review is subject to approval by the executive board. We expect the board meeting to take place in the coming weeks and it is contingent on the two said matters”, Kozack expressed.
On 25th April, the IMF staff and the Sri Lankan authorities reached staff-level agreement on the fourth review of Sri Lanka’s programme under the EFF. Once the review is approved by the IMF executive board, Sri Lanka will have access to about USD 344 million in financing.
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