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New post for Chandima Weerakkody

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MP Chandima Weerakkody has been appointed as the President of the Sri Lanka-United Kingdom Parliamentary Friendship Association on Aug. 08.

The meeting to elect office bearers for the Sri Lanka – United Kingdom Parliamentary Friendship Association of the Ninth Parliament was held at the Parliament under the chairmanship of Speaker Mahinda Yapa Abeywardana.

Acting High Commissioner of United Kingdom in Sri Lanka Mrs. Lisa Whanstall was present at the meeting as the Chief Guest. The Deputy Speaker – Ajith Rajapakse, Ministers and Members of Parliament and the Secretary General of the Parliament Ms. Kushani Rohanadeera were also present.

State Minister – Diana Gamage as well as  MPs Muszhaaraff and Ashok Abeysinghe were appointed as the Vice Presidents of the Friendship Association. MP M. A. Sumanthiran and MP Harshana Rajakaruna, were appointed as Secretary and Assistant Secretary respectively, while MP Sagara Kariyawasam was appointed as Treasurer.

Speaking at this occasion, Speaker Mahinda Yapa Abeywardana said that he would like to express his gratitude for all the support given to Sri Lanka through the bilateral relations between Sri Lanka and the United Kingdom for seven decades. Furthermore, he also expressed gratitude for providing opportunities for Members of Parliament and Parliamentary staff through seminars, workshops and study tours through the Westminster Foundation for Democracy (WFD).

Addressing those present the Acting High Commissioner of the United Kingdom to Sri Lanka, Mrs. Lisa Whanstall said that the United Kingdom is happy to support Sri Lanka through multilateral organizations such as the International Monetary Fund, the World Bank and the United Nations to overcome the economic crisis.

Also, she added that she is ready to work with other lenders and the Government of Sri Lanka to restore debt sustainability.

Speaking, MP Chandima Weerakkody expressed his gratitude for appointing him as president. He also stated that through this he hopes to further strengthen and develop the relations between the United Kingdom and Sri Lanka.

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IMF Executive Board approves Sri Lanka’s fourth review

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The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.

This brings the total IMF financial support disbursed so far to about US$1.74 billion.

“The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.”

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Cabinet approval for online traffic fine payment system – Bimal

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Minister of Transport and Highways Bimal Rathnayake has said that Cabinet approval has been granted to implement an islandwide online traffic fine payment system.

He made this statement during a media briefing near the Kottawa Expressway entrance, following a public awareness programme on mandatory seat belt use for vehicles travelling on expressways.

“The Cabinet approved the proposal today. At present, the online fine payment system is available only between Kurunegala and Anuradhapura. Now, we’re providing all police units with mobile devices, so that from this year, traffic fines can be paid from anywhere via mobile phones… Rather than paying fines, we urge everyone to drive carefully, wear seat belts, and avoid violations. Our core message is simple, travel safely,” the minister has said.

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Indian entrepreneur delegation meets President AKD (Pics)

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Indian entrepreneurs state that they are currently directing their attention towards new investment prospects in Sri Lanka, particularly in sectors like energy, infrastructure, the digital economy, tourism and agriculture, as well as on enhancing entrepreneurial capacity.  

A delegation of around 20 Indian entrepreneurs, comprising heads of several prominent Indian companies, is currently engaged in an active programme in Sri Lanka, coordinated by the Confederation of Indian Industry (CII), with the aim of further developing existing investment opportunities and exploring new prospects. These comments were expressed during the delegation’s meeting with President Anura Kumara Disanayake this afternoon (01) at the Presidential Secretariat.

The delegation is visiting Sri Lanka following an invitation extended by President Anura Kumara Disanayake during his recent official visit to India. The Indian delegation held discussions with several Sri Lankan Ministers and with officials from key government institutions, including the Board of Investment of Sri Lanka.

President Disanayake emphasized that the country has now established a more favourable environment for investors, owing to the current economic stability.

The President briefed the Indian business representatives on the constructive measures implemented by the government to create a supportive economic climate and conditions conducive to investment. He further noted that the government has strengthened the legal framework and institutional system necessary to attract and sustain large-scale investments. He assured that under the present administration efforts have been made to eliminate the losses and corruption previously associated with investments. 

The President also emphasised that special attention has been given to attracting regional investors and providing them with the necessary facilities. He pointed out that numerous new business opportunities have opened up between India and Sri Lanka across various sectors.

The Indian entrepreneurs stated that Sri Lanka’s strategic location is of great appeal to investors. They appreciated the President’s explanation regarding the current situation of the country, noting that it had inspired confidence and renewed hope in them.

Minister of Labour and Deputy Minister of Economic Development Professor Anil Jayantha Fernando, Senior Additional Secretary to the President, Roshan Gamage, and Indian High Commissioner to Sri Lanka Santosh Jha, along with officials from the Indian High Commission, were present at the occasion. Also in attendance were former Chairman of CII and Chairman and Managing Director of ITC Limited, Sanjiv Puri, and heads of several other major Indian companies.

(President’s Media Division)

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