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Moragoda pursues further economic cooperation with India

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Lanka High Commissioner to India Milinda Moragoda meeting Finance and Corporate Affairs Minister of India Nirmala Sitharaman in New Delhi, yesterday (02).

Sri Lankan High Commissioner to India Milinda Moragoda sought to further enhance economic cooperation with New Delhi, when he met the Finance and Corporate Affairs Minister of India Nirmala Sitharaman in New Delhi, yesterday (02).

Minister Sitharaman, recalling her visits to Sri Lanka, extended a warm welcome to High Commissioner Moragoda. The Finance and Corporate Affairs Minister of India and the High Commissioner of Sri Lanka discussed a range of issues pertaining to bilateral economic cooperation.

High Commissioner Moragoda thanked the Finance Minister for the support that India had provided to Sri Lanka in many different spheres through her economic cooperation programmes. They discussed ways and means by which the existing bilateral economic cooperation programmes between the two countries could be further developed and enhanced.

Moragoda also presented a copy of his policy road map “Integrated Country Strategy for Sri Lanka Diplomatic Missions in India 2021/2023” to the Finance and Corporate Affairs Minister.

An economist by profession, Nirmala Sitharaman has been the Finance and Corporate Affairs Minister of India since May 2019. Prior to that, she was the Minister of Defence from 2017 to 2019. Ms. Sitharaman has also served as the State Minister of Finance and the State Minister (Independent Charge) of the Ministry of Commerce and Industry.



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Avishka and Sadeera power Jaffna Kings to nine wicket win

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Half tons by Avishka Fernando and Sadeera Samarawickrema powered Jaffna Kings to a nine wicket win over Dambulla Aura in the 3rd match of the LPL2022  at MRICS Hambanthota on Wednesday (07)

Dambulla Aura 121/9 in 20 overs (Jordan Cox 43; Maheesh Theekshana 3/20, Vijayakanth Vijaskanth 3/24, James Fuller 2/16, Zaman Khan 1/28)

Jaffna Kings 122/1 in 15.4 overs (Avishka Fernando 51 , Sadeera Samarawickrema 62 not out; Noor Ahamed 1/28)

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Govt. says selling state assets only way to build reserves and prevent crippling shortages

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By Rathindra Kuruwita

Cabinet spokesman Minister Bandula Gunawardena yesterday (06) said Sri Lanka wouldn’t be in a position to be part of the international trading system unless it boosted its foreign reserves by selling some of its assets. Gunawardena, who also holds media and transport portfolios said so at yesterday’s post-Cabinet press briefing.

Responding to a query about the government’s decision to divest vital national assets, the Minister said that if Sri Lanka did not shore up its reserves to the tune of over three billion dollars, international companies would not accept the letters of credit given by Sri Lankan banks.

President Ranil Wickremesinghe, in his capacity as the Finance Minister, has proposed privatising of several state enterprises including Sri Lanka Insurance and Sri Lanka Telecom.

“Former President Chandrika Bandaranaike Kumaratunga sold a number of state owned enterprises. If we don’t increase our reserves, to over three billion USD soon, we will have problems importing fuel, and other essential items. Last week, Fitch again reduced our rating. No matter who governs Sri Lanka, they will all face the same problem. We need to build our reserves,” the Minister said.

Minister Gunawardane said that the need of the hour was to sell some assets and boost Sri Lanka’s reserves.

“China, India, Vietnam, and Malaysia are attracting a lot of investors. Only we have failed to do so, and we need to think why this is. Even our entrepreneurs are leaving for other countries. We need to change the way we think, if we want to attract investors to Sri Lanka,” he said.

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Ven Siridhamma, Mudalige granted bail; latter re-arrested

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Convenor of Bhikku Balamandalaya affiliated Inter University Students Federation (IUSF) Ven. Galwewa Siridhamma Thera leaving Court yesterday (06) after Kaduwela Magistrate Chanima Wijebandara granted him bail. The Thera was held under the Prevention of Terrorism Act for causing damages to public property during a protest opposite the Education Ministry, over three months back. The Magistrate ordered the Thera released after the police failed to identify the monk at an identification parade. However, IUSF Convenor Wasanatha Mudalige, who was also released by the Magistrate, after the police couldn’t identify him, was taken into custody in connection with some other case.

Pics by Kamal Bogoda

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