News
Sajith says he objected to MCC in UNP Cabinet and he is still opposed to it

By Saman Indrajith
Capital Markets and State Enterprises Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday that the government had not yet discussed with Millennium Challenge Corporation (MCC) on revising its clauses based on the recommendations made by a review Committee.
Responding to a question raised by Opposition Leader Sajith Premadasa on the proposed agreement with the MCC, Minister Cabraal said the government had been able to identify all adverse clauses of the agreement through the committee appointed to look into it.
The Minister said that the government would follow the usual procedure when reviewing an international treaty.
Opposition Leader Premadasa, making a statement, queried if the government would tear off the MCC agreement. He said that the proposed agreement had been one of the main issues of the SLPP election propaganda campaign. “The SLPP pledged that it would refrain from signing the MCC agreement. However, after the election, the members of the government were saying 70 percent of the agreement was favourable to the country.”
Chief Government Whip Minister Johnston Fernando said the Standing Orders permitted the opposition leader to make special statements and raise questions but not come up with follow-up questions thereafter. “On the other hand, when the MCC was passed by the former government, Premadasa was a Cabinet minister. It was passed by the Cabinet of that government. He kept mum then and now raises questions. You should have opposed it then. What is the point giving your approval to the agreement then and now come and question us,” queried Minister Fernando.
Opposition Leader Premadasa: How do you know whether I kept mum or spoke for or against the agreement at that Cabinet meeting? You were not there. I opposed the agreement in that Cabinet meeting. I am still opposed to the MCC.
Latest News
Navy seize two Indian fishing boats poaching in Sri Lankan waters north of Mannar

The Sri Lanka Navy seized two [02] Indian fishing boats and apprehended 14 Indian fishermen while they were poaching in Sri Lankan waters, during a special operation conducted in the sea area north of Mannar in the dark hours of 08 Feb 25.
The seized boats together with the fourteen Indian fishermen were brought to the Iranativu Island and they were to be handed over to the Assistant Directorate of Fisheries, Kilinochchi for onward legal proceedings.
Latest News
Islandwide power outage

A sudden power cut has been reported across the island.
Accordingly, the Ceylon Electricity Board (CEB) said steps are being taken to restore the power supply.
Business
President invites exporters to rise again from the economic setback

President Anura Kumar Disanayake invited Sri Lankan exporters to rebuild and thrive on a robust economic foundation.
The President emphasized that our country faces the challenge of capturing market share from a position of relative weakness. He pointed out that, to overcome this, external support had to be sought. In this regard, he highlighted that the government is prepared to provide assistance for recovery based on the current economic stability.
President Anura Kumar Disanayake made these remarks at the 26th Presidential Export Awards Ceremony.
The 26th Presidential Export Awards, organized by the Sri Lanka Export Development Board (EDB), was held on Friday (07) at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of President Anura Kumar Disanayake.
The main objective of the awards ceremony is to recognize exporters who have made significant contributions to the economic development of Sri Lanka.
The Presidential Export Award, presented by the President, is the highest honour for Sri Lankan exporters who have made significant contributions to the export sector and economic development.
The Presidential Export Awards program, initiated by the EDB in 1981, has been held annually to recognize Sri Lanka’s top exporters. The awards ceremony for the 2023/24 financial year took place this year.
A total of 14 major awards and 51 awards in the categories of production and services were presented, with recipients gaining the opportunity to use the Presidential Export Award logo as a marketing tool for three years.
President Anura Kumar Disanayake further emphasized the critical importance of the trust placed in Sri Lanka by international economic stakeholders to stabilize the country’s economy. He noted that the global market economy is interconnected, not entirely independent.
He further pointed out that the primary challenge facing Sri Lanka is securing a substantial share of the market amidst the current global division of markets and the ongoing competition to reclaim market shares.
President Anura Kumar Disanayake noted that the global market has become an interconnected network. He emphasized that in order for the country to become a key participant in this market, it must engage in trade agreements that are beneficial to Sri Lanka. He cautioned that aggressive, reckless approaches to market penetration would not be successful, stressing the need for strategic, thoughtful engagement.
The President further stated that the government is already taking steps to provide the necessary technical support for Sri Lankan exporters to enter the market with high-quality products. He highlighted the government’s focus on supplying new goods and services in response to global changes, in line with international market trends.
Regarding the reduction of electricity bills, the President mentioned that the government is prioritizing renewable energy sources to maintain long-term stability in energy costs. He added that efforts are underway to lower costs and ensure stable pricing over the next few years.
President Disanayake also emphasized that the government is committed to playing a pivotal role in advancing the nation’s economy to new heights. He noted that even small or misguided decisions can have significant negative impacts on the economy, and therefore, decisions regarding the economy must be made with great caution and foresight.
In his remarks, the President assured that the government is fully committed to fulfilling exporters’ requests, which are vital to strengthening the nation’s economy and maintaining a strong economic foundation.
Finally, the President invited Sri Lankan exporters to unite in strengthening the economy, stressing the importance of collaboration and mutual understanding to navigate the challenges of economic recovery and growth effectively.
The ceremony was attended by several distinguished individuals, including Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Minister of Labour and Deputy Minister of Economic Development Anil Jayantha Fernando, Minister of Energy Kumara Jayakody, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara, Chairman and Chief Executive of the Export Development Board of Sri Lanka Mangala Wijesinghe, Chairman of the Ceylon Chamber of Commerce Duminda Hulangamuwa, along with various Ministers, Deputy Ministers, Parliamentarians, foreign diplomats, Secretaries to the Ministries, and members of the EDB.
[PMD]
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