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India infuses additional funds into ongoing grant projects

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High Commissioner of India,- Mr. Santosh Jha and Secretary, Ministry of Urban Development and Housing Mr. W.S. Sathyananda signed and exchanged diplomatic letters today (March 21) to formalize Government of India’s (GOI) decision to provide an additional grant of SLR 150 million for the Construction of Houses and Infrastructure Facilities in Sobitha Thero Village in Anuradhapura. 

With this, GOI’s total commitment to the project currently stands at SLR 450 million.
With the formalization of the additional grant amount, 90 houses shall be constructed in the village with the GOI grant.  The project is currently underway and the proposed houses are at various stages of construction. The project is being executed in collaboration with Ven. Maduluwawe Sobhitha Thero Commemoration Foundation.

 Responding to the drastic changes in the economic landscape of Sri Lanka, GOI decided to infuse additional funds into 9 ongoing grant projects in order to expeditiously complete these projects, while also minimizing the impact of the sharp rise in cost of construction materials on the original scope of projects. The extent of additional funds is upto 50% of the original commitment by GOI in each of the 9 projects.

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Seat belt compulsory for bus drivers from today

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The National Transport Commission (NTC) has announced that starting today (July 01), it will be mandatory for all bus drivers to wear seat belts, with strict penalties for non-compliance.

Under the MotorTraffic Act, bus drivers are legally required to wear seat belts, but a rise in accidents due to drivers ignoring this rule has prompted the authorities to re-enforce it.

Police confirmed that action will be taken against drivers who fail to comply.

Meanwhile, the Ministry of Transport has also stated that wearing seat belts will be made mandatory to all passengers of light vehicles travelling on expressways from August 01, 2025.

Meanwhile, wearing seat belts will also be mandatory to all passengers of all vehicles on expressways from September 01, 2025.

Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake also confirmed the directive while speaking to media this morning (July 01) during an inspection tour at the Colombo Central Bus Stand.

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End of parate relief for large SMEs

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The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando  has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

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Ex-SriLankan Airlines chief produced before court

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Former Chairman of SriLankan Airlines – Nishantha Wickramasinghe has been produced before the Colombo Magistrate’s Court by prison officials today (July 01).

Wickramasinghe was arrested last week by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and is currently in remand custody,

Related News :

https://srilankamirror.com/news/2-ex-heads-of-govt-institutions-arrested/

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