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Trade Minister says export economy key to country’s economic wellbeing

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By Saman Indrajith

Trade Minister Dr. Bandula Gunawardane told Parliament on Tuesday (20) that the strengthening of the export economy was vital for solid economic growth and to balance macroeconomic variables of the country

 Presenting several orders under the Export Development Act for the approval of the House, Minister Dr Gunawardane said that the Ministerial Council on Export Development established to develop the export sector in the country had not met for 28 years. However, after 28 years the council had met under the chairmanship of President Gotabaya Rajapaksa.

 “This ministerial council on export development is supposed to consist of all ministries that are directly linked to our export items such as the Ministry of Agriculture, minor exports and so on. This council is expected to evaluate our export sector, propose policies, draw an export development plan and then establish and monitor export development authority. Most unfortunately this council has not met for 28 years. The last time this council met was during the time Lalith Athulathmudali was the Minister of Trade in the country. For moving ahead, we first need some orders approved regarding the Export Development Act so that we can utilise the Export Development Board and the Export Development Fund.   

 “If we look at the history of Sri Lanka, we have been recognised as noble traders in the international market with rich export items. Sri Lanka was a centre for international trade. That is why we were colonised by several foreign nations. However, after colonisation we became a nation dependent on imports. Since Independence there have been several attempts to introduce import substitution policies. That is how industries such as Lanka Loha, Sri Lankan made steel, tyres, textiles developed in the country. During this time, we had no issues relating to our finances. Due to the introduction of the open economy by late President J.R. Jayewardene created a situation which is unhealthy for our local economy. Since then our expenditure on imports kept growing larger than our income from exports.”

 Minister Gunawardena tabled a report prepared by the CINTEC, which is engaged in an experiment to manufacture a battery with locally extracted graphite. “We must be able to allocate a few billions of rupees to develop the export items such as the one proposed by the CINEC. At least 25 percent of the export development fund should be directed to encourage exporters and researchers.”



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INS GHARIAL makes port call in Colombo

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The Indian Naval Ship (INS) GHARIAL made a port call in Colombo for operational turnarounds on 04 Feb 26. The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.

Commanded by Commander Gaurav Tewari, INS GHARIAL is a vessel with a length of 124.8 meters.

During this visit, ten (10) Bailey Bridges, brought by ship, through the coordination of the High Commission of India in Sri Lanka, will be handed over to the Disaster Management Center. These bridges will provide temporary transportation links while bridges damaged across the island by adverse weather conditions are repaired.

The crew’s itinerary features scheduled goodwill activities with the Sri Lanka Navy, alongside visits to several tourist attractions across the island.

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Speaker’s personal secretary accused of interference with ongoing bribery investigation

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Harshana

SJB Gampaha District MP Harshana Rajakaruna yesterday told Parliament that the Speaker’s Personal Secretary had written to the Secretary-General of Parliament seeking information on a complaint lodged with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) by a former Deputy Secretary of Parliament against the Speaker. Rajakaruna called for an immediate investigation into what he described as interference with an ongoing probe.

Raising the matter in the House, Rajakaruna said he had formally requested the Commission to initiate an inquiry into the conduct of the Speaker’s Personal Secretary, Chameera Gallage, questioning the authority under which such information had been sought.

Rajapakaruna tabled in Parliament a copy of the letter allegedly sent by Gallage to the Secretary-General requesting details of the bribery complaint.

Addressing the House, Rajakaruna said that the letter, sent two days earlier, had sought “full details” of the complaint against the Speaker. He maintained that seeking such information amounted to interference with an investigation and constituted a serious offence under the Bribery Act.

“The Speaker’s Secretary has no right to interfere with the work of the Bribery Commission. Under what law is he acting? What authority does he have? The Speaker, like everyone else, is subject to the law of the land,” Rajakaruna said, urging the Commission to take immediate action.

He noted that the Bribery Act treated the obstruction of investigations and the destruction of documents relating to such inquiries as serious offences punishable by law, and said he believed the Minister of Justice would concur.

The allegations sparked sharp reactions in the Chamber, as Opposition members called for accountability and due process in relation to the complaint against the Speaker.

By Saman Indrajith

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Govt: Average power generation cost reduced from Rs. 37 to Rs. 29

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Kumara

The Ceylon Electricity Board has managed to reduce the average cost of electricity generation from Rs. 37 per unit to Rs. 29, marking a 22 percent reduction, Minister of Power and Energy Eng. Kumara Jayakody told Parliament yesterday.

Responding to an oral question raised by Opposition MP Ravi Karunanayake, the Minister said that electricity tariffs cannot be reduced unless the cost of generation is brought down.

“You cannot reduce electricity tariffs without reducing the cost of generation. What we are currently doing is buying at a higher price and selling at a lower price. When we assumed office, the cost of purchasing and generating electricity was Rs. 37 per unit. We have now managed to bring it down to Rs. 29, a reduction of 22 percent.

Our target is to further reduce this to Rs. 25. Once that is achieved, we will reduce electricity tariffs by 30 percent within three years, as we promised,” Minister Jayakody said.

He added that the government has already formulated a long-term generation plan to further expand the country’s power generation capacity.

According to the Minister, key measures include increasing the absorption of renewable energy into the national grid, expanding the national transmission and distribution network, introducing renewable energy storage systems, and constructing thermal and liquefied natural gas (LNG) power plants to replace aging facilities and meet future demand.

He also said that steps would be taken to enhance the capacity of existing hydropower plants as part of the broader strategy to ensure energy security and reduce long-term electricity costs.

By Ifham Nizam

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