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

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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.”



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Proposed restructuring of Sectoral Oversight Committees: House in talks with UNDP

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By Shamindra Ferdinando

The newly elected National People’s Power (NPP) government intends to restructure the existing Sectoral Oversight Committees (SOCs) meant to examine Bills except those defined in Article 152 of the Constitution, treaties and reports, including annual and performance reports pertaining to institutions coming under their purview.

Parliament and the United Nations Development Programme (UNDP) would examine the government’s proposal in this regard, authoritative sources told The Island.

Sources said that both parties agreed that expenditure could be curtailed through proper restructuring. The UNDP over the years provided a significant amount of funding for strengthening of SOCs, in addition to providing expertise.

SOCs could also examine any other matter referred to them by Parliament or any Committee or a Minister relating to the subjects and functions within their jurisdiction, sources said.

Altogether there were17 SOCs in the last parliament and the majority of them didn’t function properly, sources said. The SOC process attracted public attention late last year when the US invited heads of all SOCs except Colombo District Lawmaker Rear Admiral (retd.) Sarath Weerasekera who led the one on national security. Weerasekera is on record as having said that the US embassy in Colombo sidelined him because of criticism of the US ambassador Julie Chung’s role in the high profile campaign that led to President Gotabaya Rajapaksa’s ouster.

The fully sponsored 10-day programme gave lawmakers an opportunity to study the committee process in the U.S. Congress. The United States Agency for International Development (USAID) and the National Democratic Institute (NDI) facilitated the programme. However, quite a number of MPs who represented SOCs in the last parliament either hadn’t contested the last general election or were defeated, hence the responsibility on the part of the Parliament to pay a lot more attention to the proposed restructuring process.

Parliament introduced the SOC system during the yahapalana administration. The system allowed selected youth to represent SOCs thereby participating in the process, sources said, adding that the operation of the committee system was of pivotal importance.

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Wild elephant dies due to malnutrition

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Wildlife official trying to resuscitate the elephant

By Dinasena Rathugamage

A female elephant died on Wednesday (4th) after collapsing in a paddy field in Kudakachchakodiya, Vavuniya, due to malnutrition.

According to Wildlife officials, the elephant had travelled a long distance.

After being alerted by local villagers, the Wildlife officials attended to the elephant and provided care for nearly a week. Despite their efforts, the elephant’s frail condition and advanced age ultimately resulted in her death.

Wildlife officials in Vavuniya are investigating the circumstances surrounding the elephant’s death.

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Hashim: AKD serving himself like Ranil

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Kabir

His claim misleading– NPP

Jathika Jana Balawegaya Kegalle District MP Kabir Hashim told Parliament yesterday that incumbent President Anura Kumara Dissanayake had emulated his predecessor, Ranil Wickremesinghe, by allotting the same amount of funds for the period from January to April 2025.

Speaking during a debate on the Vote on Account presented for parliamentary approval by the government, MP Hashim noted that Wickremesinghe had allocated Rs. 1.4 trillion rupees to himself.

“This Vote on Account reveals that President Dissanayake has made the same allocation. When Wickremesinghe did so, the NPP and its leader Dissanayake criticised him. People voted for them expecting change. Where is the promised change?” Hashim said.

Hashim also said the government should seek parliamentary approval for the debt sustainability agreement with international sovereign bond holders before implementing it.

He mentioned that over Rs. 3 billion had been allocated for debt sustainability, while an additional Rs. 3 billion had been set aside for legal consultancy fees related to the debt restructuring programme.

NPP National List MP Lakmali Hemachandra, participating in the debate, said that USD 1.3 billion provided by the FAO to the Presidential Secretariat was included in the Vote on Account under the President’s Office heading, and that had resulted in an expenditure allocation for President Dissanayake similar to that of former President Wickremesinghe.

“The incumbent president has reduced expenses for his private staff by 64 percent,” MP Hemachandra added.

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