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Sri Lanka Insurance enters into a strategic tie up with Sri Lanka Medical Association

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Sri Lanka Insurance has signed a Memorandum of Understanding (MoU) with the Sri Lanka Medical Association (SLMA) to improve healthcare knowledge, enhance safety and ensure providing best insurance solution for healthcare professionals in Sri Lanka.

The agreement between the two organizations facilitated the International Medical Congress which was conducted virtually on September 21 with the participation of medical practitioners, medical students, and researchers in the field of medicine, an SLIC news release said.

“Further the agreement will facilitate awareness building initiatives on road safety and introduce a special insurance scheme for the registered members of the Sri Lanka Medical Association,” it said.

 The MoU outlined the shared and individual commitment of Sri Lanka Insurance to provide a unique insurance scheme for every registered member of the Sri Lanka Medical Association. The insurance scheme will make provisions for a vast variety of benefits suitable for the risk management requirements of modern-day professionals, including comprehensive motor insurance solution, the release said.

As part of the MoU signed by the two bodies, the Sri Lanka Medical Association (SLMA) and Sri Lanka Insurance will collaborate to facilitate educational programs to raise awareness on road accident, conduct media seminars and social media programs in collaboration with Sri Lanka Insurance Motor Plus to create a safe and healthy environment for all Sri Lankans, it added.

The Sri Lanka Medical Association (SLMA) is the national professional medical association in Sri Lanka, which brings together medical practitioners of all grades and all branches of medicine. The SLMA is the oldest professional medical association in Asia and Australasia with a history dating back to 1887. With around 4,000 members, SLMA serves as the leading body of the medical community to achieve the highest standards of medical professionalism and ethical conduct in Sri Lanka and the Association aims to provide a forum for its members to further their professional and academic development.

Established in 1962, Sri Lanka Insurance Corporation is the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs.243 billion and a Life fund of Rs. 138 billion, the largest in the local insurance industry.

The company is also the first and only local insurer to secure Fitch Ratings AA (lka) rating for its long-term financial stability and sustainability and also Sri Lanka Insurance ranked as the ‘Most Valuable General Insurance Brand’ and the ‘Most Loved Insurance Brand’ in the country by Brand Finance in 2021.

The national insurer is on a mission of being a customer focused company which constantly innovates in providing insurance services to customers and is now serves customers through an extensive network of 158 branches, the release said.



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No immediate hike in fuel prices – Udaya

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Finance Minister rules out bailout package for CPC

By Rathindra Kuruwita

Finance Minister Basil Rajapaksa has told Minister of Energy Udaya Gammanpila that the Treasury is not in a position to assist the Ceylon Petroleum Corporation (CPC). However, there would not be a fuel price hike in the short term, the Minister of Energy told the media yesterday.

Minister Gammanpila said that if a fuel hike was on the cards, he would announce it publicly.

“This is what I did last time also. This time around, I have told the people that we are facing a serious problem. We incur a loss of Rs. 15 on a litre of petrol and a loss of Rs 16 on a litre of diesel. The Chairman of the Ceylon Petroleum Corporation (CPC) has asked for a price increase,” he said.

Gammanpila said he told the Chairman of the CPC that they should first seek assistance from the Treasury. Given that prices of all essential items had increased, a significant increase in fuel prices would cause great inconvenience to the people, he said.

“At the last Cabinet meeting, I asked the Finance Minister for assistance. He said it was hard to provide assistance and was non-committal. I will again take the matter up at the next Cabinet meeting,” he said.

The government was discussing the possibility of obtaining a 3.6 billion US dollar credit line for fuel from Oman. Sri Lanka spent around USD 300 million on oil imports per month and the credit line would allow for a year of fuel supply at concessionary rates, the Minister said.

“If we get this credit line, we should be able to weather this storm. Otherwise, I will ask the Cabinet for relief. While people are suffering, we can’t also let the CPC go bankrupt. If CPC goes bust, the People’s Bank and Bank of Ceylon will be in deep trouble too,” the Minister said.

Gammanpila added that there was no point in queuing at fuel stations because a decision to increase fuel takes a few months to be approved. For example the previous hike in June was first proposed in April. “If takes a few months for such a proposal to be approved and implemented. I was told that people were queuing at fuel stations last Monday and Wednesday.”

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JVP calls for multi-agency probe into Rs. 4 bn. Gin-Nilwala scam

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Ex Prez can assist inquiry

By Shamindra Ferdinando

JVP leader Anura Kumara Dissanayake says a comprehensive multi-agency investigation is required to get to the bottom of what he called the massive Gin Nilwala scam perpetrated in 2012 and 2015.

In spite of disclosures in that regard, both in and outside Parliament, over a period of time, absolutely nothing had been done so far, lawmaker Dissanayake told The Island.

The government owed an explanation why over Rs 4 bn had been paid to a Chinese firm, in Dec 2012, and on January 7, 2015, as the project was yet to get off the ground, MP Dissanayake said.

The JVPer said that he felt the need to highlight the Gin Nilwala scam against the backdrop of the Pandora Papers exposure of former Deputy Minister Nirupama Rajapaksa’s husband, Thirukumar Nadesan, as the Chinese company, allegedly involved in the Gin Nilwala project had moved money to a foreign account, in Hong Kong, held by the businessman.

Asked whether the Gin Nilwala scam, too, had been dealt by Pandora Papers, MP Dissanayake said as far as he knew Pandora Papers’ disclosure didn’t include the Gin Nilwala project.

Responding to another query, lawmaker Dissanayake said that though the then President Maithripala Sirisena questioned the Gin Nilwala project, the yahapalana government never investigated the issue properly.

MP Dissanayake said it wouldn’t be a difficult task to establish the transferring to a foreign account of Rs one bn in Dec 2012 and the over Rs. 3 bn on January 7, 2015, the day before the presidential election. Since the release of Pandora Papers, the video footage of former President Sirisena, now an SLPP MP, on the Gin Nilwala project had gone viral, the MP said.

The JVP leader said that the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) should inquire into the matter as part of the ongoing examination of matters relating to Thirukumar Nadesan in respect of Pandora Papers.

President Gotabaya Rajapaksa on Oct. 06 instructed CIABOC to inquire into Sri Lankans mentioned in Pandora Papers. Nadesan, too, also on the same day, asked President Rajapaksa to conduct an independent investigation into the allegations by appointing a retired Appeals Court Judge for the task. The CIABOC has recorded Nadesan’s statement in this regard.

MP Dissanayake alleged that successive governments had conveniently turned a blind eye to major cases of corruption. The very basis of parliamentary control over public finance was under threat, MP Dissanayake said, urging the government to take remedial measures or face the consequences. “Billions of rupees had been moved around, misappropriated and squandered. Those responsible for ensuring the proper practices are accused of exploiting the system. What is happening now is tragic,” MP Dissanayake said.

The JVPer said that examination of proceedings of the COPE (Committee on Public Enterprises), COPA (Committee on Public Finance) and COPF (Committee on Public Finance) since the last general election revealed a frightening situation. The reports before the last general election were no exception, the parliamentarian said, the level of corruption in the public sector and the private-public sector joint ventures was horrifying. The national economy was being mercilessly exploited by persons holding office, the JVP leader said, the CIABOC could examine proceedings of the parliamentary watchdog committees if it was genuinely interested in stamping out corruption.

MP Dissanayake said that the national economy was in such a desperate situation thanks to decades of waste, corruption, irregularities and negligence on the part of political parties in power. “Today, we are seeking finance assistance from various countries. Recently, Foreign Minister Prof. G.L. Peiris revealed he discussed ways and means to overcome financial crisis with the visiting Indian Foreign Secretary,” he said.

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Inter-provincial travel restrictions extended to Oct 21

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Inter-provincial travel restrictions have been extended to October 21, the Presidential Media Division (PMD) said issuing a press release yesterday.

The PMD added that President Gotabaya Rajapaksa had instructed the security forces to strictly enforce the inter-province travel restrictions during the weekend.

The decision was taken at the COVID-19 Prevention Committee meeting held Friday (15) morning.

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