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CBSL appoints new deputy governor

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The Monetary Board of the Central Bank of Sri Lanka (CBSL), with the concurrence of the Minister of Finance, has promoted K.M.A.N. Daulagala, Assistant Governor and the Secretary to the Monetary Board, to the post of Deputy Governor, with effect from October 07.

Mrs. Daulagala has over 31 years of service at the Central Bank in different capacities in the areas of supervision and regulation of non-bank financial institutions, macroprudential surveillance, finance, international operations, risk management, regional development, human resource management and training and development.

She has served as the Chief Accountant and Director of Supervision of Non-Bank Financial Institutions and Financial System Stability and has contributed towards strengthening the legal framework and governance in the non-bank financial institutions sector.

Prior to the appointment as a Deputy Governor, Mrs. Daulagala held the position of Assistant Governor and was in-charge of the Macroprudential Surveillance Department and the Centre for Banking Studies and served as the Secretary to the Monetary Board.

She also served as Secretary to the Board Risk Oversight Committee, Monetary Board Advisory Audit Committee and the Ethics Committee.

Further, she was on release to the Ministry of Finance and Planning where she served as the Director General of the Department of Public Enterprises. While holding the position at the Ministry, she served as an Ex-Officio Director of the Bank of Ceylon representing the Treasury and as a member of the Employee’s Trust Fund Board.

At present, Mrs. Daulagala serves as the Chairperson of the Sri Lanka Accounting and Auditing Standards Monitoring Board.

Mrs. Daulagala holds a Master of Science Degree in Financial and Business Economics from the University of Essex, United Kingdom, and a Master of Business Administration Degree from the University of Sri Jayewardenepura. She is a Fellow member of Chartered Institute of Management Accountants, United Kingdom.

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Ex-Army Chief General Hamilton Wanasinghe passes away

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Former Commander of the Sri Lanka Army – General Hamilton Wanasinghe  has passed away at the age of 91.

Born in Malwana, he received his primary and secondary education at Ananda College. A keen sportsman, he was the Sergeant Major in the Cadet Platoon during his school days. He was also an active member of the College rifle shooting team, which won many coveted trophies and later in the Army. Later he also represented Ceylon Inter Dominion small bore rifle shooting competition.

He joined Ceylon Army as an Officer Cadet in 1954 and was sent to the Royal Military Academy Sandhurst for basic training. Later he was commissioned as an Officer in the Ceylon Artillery as a Second Lieutenant. Prior to being appointed as the Army Commander, he held various portfolios in the Army’s hierarchical order and in 1988 he became the 11th commander of the Sri Lanka Army.

After his retirement, he also held several key positions including Joint Operations Commander and the Secretary of Defence Sri Lanka from which position he retired in 1995.

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India extends financial assistance for Nagapattinam – KKS ferry service

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The Government of India has decided to further extend the financial assistance for another year to support the ongoing passenger ferry service between Nagapattinam and Kankesanthurai. This extension is in line with India’s continued commitment to enhancing regional connectivity and strengthening people-to-people linkages between the two nations.

The financial support is being extended under the Viability Gap Funding (VGF) mechanism, amounting to over LKR 300 million annually (approx. LKR 25 million per month). It is aimed at ensuring the affordability and operational sustainability of the service by covering key logistical and operational costs, on terms similar to the previous year.
Since its resumption in August 2024, the ferry service has facilitated the movement of over 15,000 passengers, reinforcing cultural, economic, and social exchanges between the two countries. It stands as a key milestone in revitalizing maritime connectivity between India and Sri Lanka.

The continuation of the financial support for the ferry service also aligns with the shared vision for enhanced maritime connectivity, as reaffirmed during the visit of the President of Sri Lanka to India in December 2024 and the visit of the Prime Minister of India to Sri Lanka in April 2025.

 Future plans include the exploration of additional routes and services that will further expand connectivity and economic collaboration.

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Microplastic pellets wash up on Lankan shores

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Microplastic pellets and other marine debris have begun washing ashore along the northern coastlines of Sri Lanka, raising environmental concerns.

These pellets have been washed up in areas including Delft Island, Jaffna, Nainativu, and Mannar. Minor trances have also been found along the Kilinochchi and Chilaw coastlines.

“Yesterday, we observed plastic pellets from the sunken vessel washing ashore along the Delft and Jaffna coastlines,” said R.H.M.V. Abeykoon, Acting Chairman of MEPA. “With strong winds and rough seas expected in the coming days, ocean currents may carry more of these pellets to our shores,” he said.

On May 28, international organizations warned of the potential for debris to reach Sri Lanka’s coastline. This risk was further confirmed by the Indian Coast Guard on May 30.

MEPA has activated an emergency hotline (1949) for the public to report any sightings of marine debris along the coast.

According to the Marine Environment Protection Authority (MEPA), the debris is believed to have originated from the MSC ELSA 03, a Liberia-flagged cargo vessel that sank off the coast of Kerala, India, on May 25.

At the time of the incident, the vessel was carrying 643 containers, including 13 classified as dangerous goods and according to the General Manager of MEPA – Jagath Gunasekara, “12 of those containers held calcium carbide, a chemical that can release toxic gases when it reacts with seawater… Additionally, around 60 containers were filled with plastic pellets.”

Gunesekara has further added that any chemical substances would be significantly diluted before reaching our shores,since the incident occurred about 300 nautical miles from Sri Lanka. “There is no health risk, and no fishing bans or restrictions are necessary in Sri Lankan waters,” he has added.

He has further said that they are expanding operations to clean up affected coastal areas, prioritizing to remove plastic pellets in the shorelines.

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