Page 8 - Sri Lanka

Sri Lanka asks India to stop fishermen from straying into country's waters

The Sri Lankan government has requested India to prevent its fishermen from illegally entering the country's waters for fishing. Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayaka said the Indian action would be deeply appreciated by the people in northern Sri Lanka as fishing is the only livelihood for them. His remarks came ahead of the likely visit by Prime Minister Narendra Modi to Sri Lanka next month. We know that India has been helping Sri Lanka a lot. But this help towards the people of Jaffna would be the greatest," Rathnayaka told Parliament on Wednesday. They have no other industry and if you go to Mannar and Thalaimannar you will see. Rathnayaka said India was of much assistance to the people of northern Sri Lanka during the country's armed conflict with the LTTE. They gave them protection and we are thankful to India for that," Rathnayaka stressed. The biggest service India, the Tamil Nadu government and, their MPs could do is to help the nor

Sri Lanka gets fourth tranche of $334 million bailout package from IMF

The IMF has agreed to release the fourth tranche of USD 334 million from its USD 2.9 billion bailout package to Sri Lanka to strengthen the island nation's recovery from its 2022 bankruptcy. The release of the fourth tranche was approved on Friday after the Executive Board of the International Monetary Fund (IMF) completed the third review under the 48-month Extended Fund Facility (EFF) Arrangement to Sri Lanka. The global lender said it would release about USD 334 million to the crisis-hit nation, bringing total funding to around USD 1.3 billion. The IMF said Sri Lanka has performed strongly under the programme. "All quantitative targets for end-December 2024 were met, except the indicative target on social spending. Most structural benchmarks due by end-January 2025 were either met or implemented with delay. The recent successful completion of the bond exchange is a major milestone towards restoring debt sustainability," the IMF said in a statement. "Reform efforts are bearing f

India-Sri Lanka petro pipeline depends on economics, not politics: CPC head

A proposed multi-product petroleum pipeline between India and Sri Lanka will proceed only if economically viable, not based on political considerations, the head of Sri Lanka's national oil company has said. Deliberation on the possible trilateral cooperation between India, Sri Lanka and the United Arab Emirates was held during President Anura Kumara Dissanayake's visit to India last year. Ceylon Petroleum Corporation Chairman W A Rajakaruna told the Daily Mirror newspaper that currently the project is being assessed for its feasibility. "We will assess the project for its feasibility. We will press ahead only if it is feasible. We cannot decide on it over political reasons only," the report quoted him as saying. Rajakurana said he participated in talks about this with President Dissanayake last week. The project is part of the energy connectivity between Sri Lanka and India. There is a proposal for power grid connectivity between the two countries, according to the report. Accor

Indian envoy, Sri Lankan minister discuss boosting farm productivity

Indian High Commissioner Santosh Jha met Sri Lankan Minister K D Lalkantha and discussed opportunities for bilateral collaboration for the modernisation of agriculture in the island nation, according to an official statement. Jha met Lalkantha, Minister of Agriculture, Livestock, Land and Irrigation, here on Monday, the Indian High Commission in Sri Lanka said in a post on X. "They discussed opportunities for India-Sri Lanka collaboration in agriculture modernisation in Sri Lanka, with an emphasis on raising productivity, technology and incomes for farmers," it said. Sri Lanka has a central place in India's Neighbourhood First' policy and Security and growth for all in the region (S.A.G.A.R) vision, according to the Ministry of External Affairs (MEA). India has extended overall assistance amounting to USD 5 billion through concessional loans/swap agreements and USD 600 million as grants to Sri Lanka under its development cooperation. These development projects extend to all 25 ...

India assumes chairmanship of Bay of Bengal Inter-Governmental Organisation

India has assumed the chairmanship of the Bay of Bengal Inter-Governmental Organisation at the 13th Governing Council Meeting in Male, Maldives.India assumed the chairmanship in the presence of senior government representatives from Sri Lanka, Maldives and Bangladesh, the Ministry of Fisheries, Animal Husbandry and Dairying said in a press release.The event was part of the high-level conference 'Policy Guidance for Mainstreaming Ecosystem Approach to Fisheries Management (EAFM) in Small-Scale Fisheries', hosted by the Ministry of Fisheries & Ocean Resources of the Maldives government, in collaboration with the Bay of Bengal Programme Inter-Governmental Organisation (BOBP-IGO), that has been successfully convened from February 20 to 22, 2025, in Lankanfinolhu, Maldives.As per the Ministry, the Indian delegation was led by Abhilaksh Likhi, Secretary, Department of Fisheries. He highlighted that India is committed to upholding and building upon the achievements of the Bay of Bengal

Dissanayake govt unveils first budget, eyes 5% growth for Sri Lanka in 2025

The Sri Lankan economy is expected to grow at 5 per cent in 2025, President Anura Dissanayake said Monday while presenting the budget for this year. This is the first full-year budget presented by the National People's Power (NPP) government, which came to power in November last year. Introducing the budget, Dissanayake said a budget is a "reflection of the government's approach to building the economy and overall policy." He added that this year's budget intends to set a foundation of an economy where "all citizens are active participants, active stakeholders, and active beneficiaries," news portal Adaderana.lk reported. We expect the 2025 economic growth to be around 5 per cent, said Dissanayake, also the island nation's Finance Minister. He asserted that all fiscal measures would be directed towards the commencement of repaying the external debt from 2028. "...Growth in non-debt creating inflows along with robust economic growth and a primary budget surplus of 2.3 per cent of

Sri Lanka expects economic growth at 5%, to repay all debt: Dissanayake

Dissanayake said that he expects the economy to grow at 5 per cent in the medium term and plans to maintain low inflation, while also taking steps to keep exchange rates stable

Adani Green withdraws from wind energy, transmission projects in Sri Lanka

The projects in question included two wind power plants to be set up in Mannar and Pooneryn at a total investment of $442 million

Sri Lanka's fourth IMF tranche of $3 bn to be released soon: Officials

Sri Lanka's fourth tranche of nearly USD 3 billion bailout facility by IMF will be materialised in the coming months, a top official of the world body has said. The National People's Power (NPP) government has already reached a staff-level agreement with the IMF on the third review of the USD 3 billion extended arrangement under the EFF in November. On Thursday, Julie Kozack, IMF spokesperson, said in Washington that the USD 333 million fourth tranche is expected to be released in the coming months after the IMF executive board approves it. She said the review would focus on the full implementation of prior action under the programme. Since the IMF and Sri Lanka entered the bailout in March 2022, three tranches of over USD 330 million have been disbursed. On Thursday, in Colombo President Anura Kumara Dissanayake met the IMF officials to discuss Dissanayake's first full government budget for 2025. The President's Media Division (PMD) said a comprehensive discussion regarding the

Where strongman failed, women are fueling a democratic revival in Sri Lanka

When the country all but ran out of cash and fuel, the burden fell disproportionately on women, who shoulder the domestic load

Sri Lanka must unite to achieve economic freedom: Prez Dissanayake

President Anura Kumara Dissanayake on Tuesday said that Sri Lanka must work in unison to achieve economic freedom rather than yield to vulnerabilities within the global economic system. Addressing the 77th Independence Day celebrations of the island nation, Dissanayake said, "Collectively, we must persist in our struggle for freedom on behalf of this motherland." "To secure our economic freedom, rather than succumbing to weakness in the global economic system and being overwhelmed by its every fluctuation, we must unite in our efforts for this motherland," said the 56-year-old president. In keeping with his government's policy of minimizing state expenditures as the island nation struggles to emerge from the 2022 economic crisis, this year's celebrations saw a reduction in the usual pomp and pageantry. Only 1,800 military personnel were deployed in the parade, a reduction of over 1,500 personnel from last year. From last year's 19 aircraft, this morning's celebrations featured only

Mahinda Rajapaksa's elder son indicted for alleged misappropriation

Former Sri Lankan president Mahinda Rajapaksa's elder son has been indicted in the High Court here for alleged misappropriation from an Indian investment prior to 2015. Namal Rajapaksa, 38, had been arrested in June 2016 for the alleged misuse of 70 million Sri Lankan rupees from the Krish hotel project money to develop the game of rugby, for which he had been a Sri Lanka international player. The Krish hotel project located in the heart of Colombo commercial district was aborted and the unfinished construction remains. Recently its unsafe status was questioned in another court for the danger posed to passersby. Namal Rajapaksa was quizzed recently by the police after the Anura Kumara Dissanayake-led National People's Power (NPP) government revived the Krish case stalled since 2016. A week later, his younger brother Yoshitha was arrested in the revival of a similar questionable property case. He was released on bail on Monday. Namal Rajapaksa having learnt of his indictment poste

Sri Lanka lifts ban on vehicle import placed in 2020 due to pandemic

Cash-strapped Sri Lanka has officially lifted the ban on the vehicle import which was put in place in 2020 to ease the pressure on foreign exchange reserves due to the COVID-19 pandemic, authorities said on Tuesday. This will be with effect from February 1. President Anura Kumara Dissanayake has issued a gazette dated January 24 which ended the ban on vehicle imports imposed in early 2020 with the COVID outbreak. The ban was continued when Sri Lanka suffered its economic crisis triggered by forex shortage. In April 2022, Sri Lanka declared its first-ever debt default. Commenting on the lifting of the import ban the Cabinet spokesman and minister Nalinda Jayathissa said only trucks, buses and double cabs would be allowed in the first phase. President Dissanayake said last week that the government would allocate USD 1.2 billion for vehicle imports for the first phase. In 2019, before the ban came into force the island had spent USD 1.4 billion for vehicle imports. We will be wary

5 Indian fishermen injured in firing by Sri Lankan Navy, MEA summons envoy

Five Indian fishermen sustained injuries, including two seriously, in an incident of firing by the Sri Lankan Navy in the proximity of Delft Island early Tuesday, triggering a strong reaction by India. The acting high commissioner of the island nation in New Delhi was summoned to the Ministry of External Affairs (MEA) and a strong protest was lodged with the top diplomat. In its reaction, India said use of force is not "acceptable" under any circumstances whatsoever. "An incident of firing by the Sri Lankan Navy during the apprehension of 13 Indian fishermen in the proximity of Delft Island was reported in the early hours of this morning," it said. "Out of the 13 fishermen who were on board the fishing vessel, two have sustained serious injuries and are currently receiving treatment at the Jaffna Teaching hospital," it said. Three other fishermen received minor injuries and have been treated for the same, it added. Indian Consulate officials in Jaffna have visited the injured ...

Ex-president Rajapaksa's son arrested by Lanka police on corruption charges

Former Sri Lankan president Mahinda Rajapaksa's son Yoshitha Rajapaksa was arrested by police on Saturday on corruption charges in a property purchase case. Ex-navy officer Yoshitha was arrested from their home territory of Beliatta over the investigation of alleged misconduct in the purchase of the property during the term of his father's presidency prior to 2015. Yoshitha is the second among Mahinda Rajapaksa's three sons. His uncle and former president Gotabaya Rajapaksa was also quizzed by the police last week on the same property - a holiday home in the southern religious resort of Kataragama. The arrest came as Mahinda Rajapaksa filed a fundamental rights petition on Friday in the Supreme Court seeking its intervention to reinstate his security, which was significantly reduced by the government last month. Since the formation of a new government led by President Anura Kumara Dissanayake in November last year, Mahinda Rajapaksa's eldest son and legislator Namal Rajapaksa was

Sri Lanka power project not cancelled, tariff is being re-evaluated: Adani

"Reports that Adani's 484 megawatt (MW) wind power projects in Mannar and Pooneryn have been cancelled are false and misleading," Adani Group spokesperson said

Adani Power down 2% as Sri Lanka revokes power purchase pact with Group

Adani Power shares fell after reports suggested that Sri Lanka has cancelled a power purchase agreement with the Adani Group amid corruption allegations from the US

Sri Lanka revokes Adani wind power deal; Group denies cancellation claims

Sri Lankan President Anura Kumara Dissanayake began investigations into Adani's local projects after founder Gautam Adani faced bribery allegations from the United States last year

Sri Lanka government announces new rules, limits ministerial privileges

The Sri Lankan government has announced stringent new regulations limiting the benefits afforded to its ministers, a move aimed at addressing public concerns over political privilege and accountability. A circular issued by President Anura Kumara Dissanayake on Thursday restricted Cabinet and deputy ministers to two official vehicles. New caps have been placed on their fuel allowances and monthly payments for office, residential, and mobile phone expenses. The support staff for a Cabinet minister is limited to 15 and a deputy minister is limited to 12. Family members or close relatives cannot be appointed as Private Secretary, Coordinating Secretary, Media Secretary, or Public Relations Secretary. The regulations come amidst the ongoing debate over the pressure put on former President Mahinda Rajapaksa to leave his official residence and forego personal security. Rajapaksa's security was slashed from 300 plus personnel to just 60 in December. Dissanayake at a public rally held e

41 Indian fishermen arrested by Sri Lankan Navy return to Chennai Airport

Earlier this month, on January 16, 15 Indian fishermen, also detained by the Sri Lankan Navy, were released and returned to Chennai