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Thico scam: Rs. 3 bn withdrawn from Thilini’s account in six months

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By A.J.A. Abeynayake

The Criminal Investigation Department (CID) yesterday (18) informed Acting Fort Magistrate Shilani Perera that Rs 3 bn in an account maintained by Thilini Priyamali, Proprietor, Thico Group of Companies, had been withdrawn between January and June 2022.

The Court was also told that there had been seven other cases before the High Court, and Magistrate Courts, as well against Priyamali arrested in the first week of this month on a complaint made by businessman Kamal Hassen.

The suspect was produced in Court yesterday (19) along with Isuru Bandara, described as a partner under investigation for his involvement in fraudulent financial transactions.

After hearing submissions made by the CID, and lawyers, appearing for the affected parties, the Acting Magistrate remanded them till Nov. 02 pending further investigations.

The CID told Court that investigations had not revealed the earnings of Thico Group of Companies, though the maintenance of its World Trade Centre office cost the group Rs 4.1 million per year.

Thilini Priyamali and Isuru Bandara were produced in Court over collecting large sums of money, promising high returns for the investments. Among those who had been tricked were politicians. However, many victims had been reluctant to lodge complaints with the police.

Attorney-at-law Roshan Dehiwela, Counsel for Isuru Bandara, said that though the CID alleged his client was a director of Thico Group of Companies the police failed to produce any documents to prove their allegations. Lawyer Dulan Mirihana also appeared for him.

Counsel for Thilini Priyamali, Attorney-at-Law Dasun Nagahawatta, and Rakitha Rajapaksa, accused the CID of exaggerating allegations against their client.

They moved Court to grant bail to their client as charges levelled against her were bailable offences. Nagahawatta tendered in Court several documents to support that his client paid taxes and operated a lawful business.

President’s Counsel Maithri Gunaratne, appearing for an aggrieved party, said the CID should initiate investigations to arrest a woman, named Janaki Siriwardena, who had allegedly introduced businessmen to Thilini Priyamali. Siriwardhana was identified as Chief Executive Officer and Director of the One Transworks Square (Pvt.) Limited



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Formulation of a Draft Economic Development Bill to expedite the process of Digital Transformation and Digital Economic Development

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It is essential to establish an institutional framework with legal powers to ensure the effective implementation of national digital policy and guidelines.

Quality human capital should be attracted to this institutional framework for the compilation of policies, implementation of policies, regulation, and empowerment of operations. The continuous participation of the private sector should also be considered in establishing a strong institutional framework.

It has been further identified that attention should also be
drawn to new fields of digital innovation, including support for artificial intelligence and related activities.

Taking into consideration the aforementioned matters, a concept paper has been formulated to prepare a Draft Economic Development Bill for the establishment of a new institutional framework.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the  President in his capacity as the Minister of Digital Economy to instruct legal draftsman to formulate a Draft Economic Development Bill based on the aforementioned concept paper.

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Cabinet approval for Sri Lanka Community and Health Survey – 2026/2027

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The Sri Lanka Community and Health Survey is the main data source for obtaining necessary information for reviewing progress toward achieving the national health development goals, as well as the expected sustainable development goals by 2030.

The last survey was conducted in the year 2016, and the Sri Lanka Community and Health Survey should be conducted to obtain updated data to enable the collection of related data and indicators concerning the health and well-being targets of the Global Sustainable Development Objectives.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning, and Economic Development to take necessary steps to conduct the aforementioned survey.

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A National Water Tariff Policy for all Water Supply and Sanitation Services

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The access to secure, reliable and affordable drinking water and adequate sanitation facilities is essential to maintain public health, promote social well-being and foster economic development.

The Sri Lankan Government recognizes water supply and sanitation services as both an economic good and a basic human need. Therefore, when pricing for water and sanitation, a balance should be maintained between the financial sustainability of the service providers and the requirement to ensure fair and affordable access for all strata in the society.

Accordingly, the Sri Lankan government has identified the necessity of a national water supply that is sensitive to gender equality and social integration applicable to all water supply and sanitation service providers. At present, there is no formal national framework for setting, reviewing, approving, and implementing tariffs for water supply systems operated by various water supply providers as well as for setting, reviewing, approving, and implementing tariffs for sanitation systems.

Therefore, the Ministry of Housing, Construction, and Water Supply has formulated a water tariff policy covering all water supply service providers under the Sri Lanka Water Supply and Sanitation Sector Reform Program, which is a policy-based loan program implemented under Asian Development Bank funds.

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