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AG seeks to lift interim order on divestment of SLT, Lanka Hospitals

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The Attorney General has requested the Appeals Court to lift the interim order imposed pertaining to the divestment of Sri Lanka Telecom (SLT) and Lanka Hospitals.

Last week, the Appeals Court delivered an interim order temporarily halting all future measures regarding the divestment of SLT and Lanka Hospitals until March 12.

The relevant order was issued upon consideration of a writ petition filed by Lycamobile SARL and Pettigo Comércio Internacional on behalf of SLT and another filed by Lyca Leasing Holding Limited and HIMS International on behalf of Lanka Hospitals.

When the petitions were taken up again before Appeals Court Judge D. N. Samarakoon today (March 06), Additional Solicitor General Sumathi Dharmawardhane made the request on behalf of the Attorney General.

The petitioning companies have alleged that despite having submitted all required documents to the respondents for the transfer of 50.23% state-owned shares in SLT and 51.34% shares in Lanka Hospitals, the Cabinet sub-committee assigned to the restructuring of State-Owned Enterprises rejected the said applications for no apparent reason.

Thus, the companies have noted that the committee’s decision to reject their applications is not only arbitrary and unfair, but also unlawful, given that they had fulfilled all pre-requisites.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

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Sri Lanka Mirror wishes everyone a happy Sinhala and Tamil New Year!

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The 2024 Sinhala and Tamil New Year dawned at 09.05 pm last night (April 13).

‘Sri Lanka Mirror’ extends heartfelt New Year greetings to all our readers. May this upcoming year be filled with boundless happiness, prosperity, and success for each and everyone of you.

–  Sri Lanka Mirror team

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Derailed train causes delays on coastal line

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A train has derailed at the Kalutara South railway station on Saturday morning (13).

Trains operating on the Coastal Line are thus experiencing delays, Sri Lanka Railways said.

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Kristalina Georgieva to head IMF for a 2nd term

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The Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on October 1, 2024.

The appointment comes ahead of the start of the fund’s spring meetings in Washington next week.

Georgieva, who has been in the role since the autumn of 2019, was the sole candidate for the position. However, it was only after European leaders signalled that they would endorse her last month that her candidacy was assured.

In a statement, the coordinators of the Executive Board, Mr. Afonso S. Bevilaqua and Mr. Abdullah F. BinZarah has said, “Looking ahead, the Board welcomes Ms. Georgieva’s ongoing emphasis on issues of macroeconomic and financial stability, while also ensuring that the Fund continues to adapt and evolve to meet the needs of its entire membership. It recognizes her focus on strengthening the Fund’s support to its members through effective policy advice, capacity development and financing. The Board looks forward to continuing to work closely with the Managing Director.”

“I am deeply grateful for the trust and support of the Fund’s Executive Board, representing our 190 members, and honored to continue to lead the IMF as Managing Director for a second five-year term,” Ms. Georgieva has said.

The Bulgarian national has served as Managing Director since October 1, 2019. The Managing Director is the chief of the IMF’s operating staff and Chair of the Executive Board. The Managing Director is assisted by four Deputy Managing Directors in overseeing the Fund’s operations, which serve its membership through about 3,100 staff.

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