News
SL will not be able to join BRICS right now but membership of its NDB bank okayed

Despite an effort to gain entry to BRICS, Sri Lanka will not be able to join the organization at present due to a decision by its members at its recently concluded summit in Russia not to expand its membership right now. However Sri Lanka’s application to join the BRCS promoted New Development Bank (NDB) has been accepted
Established in 2015 by BRICS (Brazil, Russia, India, China, and South Africa), the NDB is a multilateral development bank aimed at mobilising resources for infrastructure and sustainable development projects in BRICS and other emerging markets and developing countries (EMDCs).
Sri Lanka applied for the membership of BRICS when its delegation led by Foreign Secretary Aruni Wijewardena took part in the BRICS summit last month held in Russia.
BRICS, an economic and political group has been gaining increasing relevance in recent years.
It poses several potential challenges to the global dominance of the United States and the central role of the U.S. dollar in international trade and finance.
“There are nine countries which are holding membership in BRICS. Sri Lanka applied for membership at the BRICS summit. But the nine member countries have decided not to entertain any new membership this time,” Herath told reporters at the weekly post-Cabinet media briefing held on Wednesday (06) in Colombo.
“We applied for membership only close to October summit. We also spoke to foreign ministers of many countries to back us. Those countries also backed us. But when the summit decided not to expand membership, we won’t get that opportunity,” he said.
“But we applied to get the membership of the NDB Bank which comes under BRICS. We have got an opportunity to implement that. It should be decided by Sri Lanka government. We will be deciding at the Cabinet in the future,” Herath said.
“We have sent this (approval) to the Finance Ministry. We will decide this based on the Finance Ministry assessment.”
“There are countries like that. For instance, if you take Bangladesh, it is not a member of BRICS. But it is a member of the NDB Bank. Similarly we also, as a country, are trying to get the membership. We will discuss this to get the approval through Finance Ministry.”
News
COPE discovers fake documents covering drug imports in 2022/23

The Parliamentary watchdog Committee on Public Enterprises (COPE) has found that there were fake documents regarding the importing of medicines under the emergency procurement system in 2022 and 2023.
This was revealed during a COPE meeting held at Parliament probing the transactions of the National Medicine Regulatory Authority (NMRA).
NMRA CEO Saveen Semage told the committee that several fake documents have been found due to the lack of registration of medicines.
Stating that six such fake documents were found last year alone, Semage said he had recorded statements regarding each of the documents with the Financial Crimes Investigation Division.
He revealed that, however, no investigations have been conducted yet into the incidents.
“We have documents with confessions from a woman accepting that fake documents had been made. However, a statement has not even been recorded from that woman yet,” he said.
Meanwhile, COPE member MP Asitha Niroshana Egoda Vithana also revealed that the highest number of waive-off registrations (WOR) for medicines had been obtained in 2022 and 2023.
He said 656 such WORs had been obtained in 2022 and 261 in 2023, adding that this proves that discrepancies have taken place during the emergency procurement of medicines during these periods.
Furthermore, Deputy Director General of the Medical Supplies Division of the Health Ministry, Dr. G. Wijesuriya said discussions are underway on allowing the State Pharmaceutical Corporation (SPC) to directly import essential medicines.He pointed out that it was essential to take a policy decision in this regard as a solution to mitigate such discrepancies.
News
Batalanda report tabled in parliament, forwarded to AG

The Batalanda Commission report was tabled in Parliament on Friday by the Leader of the House and Transport Minister, Bimal Ratnayake.
Minister Ratnayake announced that the government has decided to forward the report to the Attorney General for legal advice. Additionally, a Presidential Committee will be appointed to provide guidance and recommendations on how to proceed with the findings of the report.
Ratnayake said that the Cabinet of Ministers, along with President Anura Kumara Dissanayake, has made a policy decision to take necessary action in response to the report. He reassured the public that steps are being taken to ensure that such a dark chapter in the country’s history is never repeated.
Minister Ratnayake said that a two-day debate on the Batalanda Commission report will be scheduled in Parliament at an appropriate time, allowing for a detailed discussion on the report’s findings and recommendations.
The report, which will be printed in all three official languages—Sinhala, Tamil, and English—will be made available to the public in the near future. Ratnayake confirmed that printed copies would be provided to members of Parliament as well as the general public for their review.
The Leader of the House further revealed that there are 28 evidence volumes associated with the commission’s work, which will be submitted to Parliament at a later date for further scrutiny.
Ratnayake said that as entire country concerned of the Batalanda Commission’s findings, the government’s commitment to addressing the issues raised and preventing future atrocities stands clear. The next steps, including legal action and policy recommendations, will be shaped by expert advice and informed parliamentary discussions, he said.
News
CB Governor stresses need to assist crisis-hit construction industry

Governor of the Central Bank Dr. Nandalal Weerasinghe on Friday (14) emphasized the importance of promoting a sustainable and cost-effective construction industry in the country, highlighting key challenges and opportunities in the sector.
Speaking at ‘Construction Expo 2025’, Dr. Weerasinghe underscored the need for Sri Lanka to align with global trends in sustainable construction, integrating cost-effective energy solutions and eco-friendly building practices.
“I must say my views here are not necessarily as Governor of the Central Bank of Sri Lanka, but as a person looking at this construction industry and how this can be developed and what the issues are. Sustainability in construction is essential, not just for new projects but also for existing buildings,” he noted.
Dr. Weerasinghe acknowledged that the construction sector has been one of the hardest-hit industries due to multiple economic pressures in recent years including the decline in public investments, high material costs and the industry being dependent on government projects.
The CBSL Governor, who acknowledged that the government faced fiscal constraints, limiting infrastructure spending and delaying payments to contractors, said that however, the outstanding arrears had now been settled.
“Government did not have space to spend money for public investment, especially construction that had a significant impact on the industry in the last couple of years, plus the government inability to pay the arrears for a long period. That was an issue we all recognize that has been one of the adverse impacts the industry had in the past”, he expressed.
“Also the cost of materials went up significantly, partly because of foreign exchange shortages. As a result, the shortage had shot up the prices of construction materials, as well as depreciation of the currency, high interest rates, finance costs, and other factors. We all recognize that it had an adverse impact on the industry. It’s one of the worst affected industries because of all these factors.”
-
Foreign News1 day ago
Search continues in Dominican Republic for missing student Sudiksha Konanki
-
News5 days ago
Alfred Duraiappa’s relative killed in Canada shooting
-
Opinion7 days ago
Insulting SL armed forces
-
Features4 days ago
Richard de Zoysa at 67
-
Editorial6 days ago
Ghosts refusing to fade away
-
Features4 days ago
SL Navy helping save kidneys
-
Midweek Review5 days ago
Ranil in Head-to-Head controversy
-
Features6 days ago
The Gypsies…one year at a time