Connect with us

News

PM calls on Indian companies to invest further in SL

Published

on

Sri Lankan PM – Dinesh Gunawardena has called on the Indian companies to invest further in Sri Lanka.

Outlining the benefits of Indian investments in Sri Lanka while addressing the Tata Tiscon Dealer Convention 2023 in Colombo today (07), Mr. Gunawardena highlighted that 90% of components used by Lanka Ashok Leyland were indigenous.

He also referred to India as the biggest friend of Sri Lanka in the time of crisis in his address.

Speaking at the event, High Commissioner Mr. Gopal Baglay said that both Government of India and Indian corporates are working to build relationships that are beneficial to the people within and beyond India, especially the neighbours, under Prime Minister Narendra Modi’s Neighbourhood First Policy. He added that the driving force behind this spirit of engagement was community-centered business practices and philosophy of Vasudhaiva Kutumbakam (world is one family).

Referring to India and Sri Lanka as ‘civilisational twins’, the High Commissioner noted that both Governments are promoting people to people as well as business to business ties. He added that the presence of numerous Indian business entities for the convention was the biggest vote of confidence not only in the relationship between the two countries but also in Sri Lanka’s potential.

Business and commercial linkages between the two countries are witnessing steady growth. India was the largest investor and also the biggest export destination for Sri Lanka in 2021. India continues to be the largest source of tourists as well. Indian companies in Sri Lanka actively support Sri Lanka’s economic recovery through increased economic activities, value addition of products, services, job creation for Sri Lankan nationals and direct assistance to the people of Sri Lanka through various CSR activities.

News

Presidential Poll can be held with Acting IGP – Fmr. Election Chief

Published

on

By

Former Chairman of the Election Commission Mahinda Deshapriya said there is no obstacle to holding the Presidential Election with an Acting Inspector General of Police.

He said he believes the current IGP can hold the position he held before until the court hearing concludes.

He said he believes a suitable person should be appointed as Acting IGP tomorrow, adding that there may be no IGP until the hearing concludes, but the election can be held under an Acting IGP.

He added that there is no issue because if the country is governed under an appointed President, it is not a big deal to conduct the election under an Acting IGP.

(News1st) 

Continue Reading

News

Japan officially notifies SL to resume disbursement to Yen loan projects

Published

on

By

Following the completion of the signing of Memorandum of Understanding (MOU) between the Official Creditor Committee (OCC) and Sri Lanka on 23 July and the expression of the willingness by the Government of Sri Lanka to swiftly conclude a bilateral agreement on debt restructuring, the Government of Japan has officially decided to resume disbursement to Yen Loan Projects, which had been suspended since the default of Sri Lanka in 2022.

On 24 July, the Government of Sri Lanka, the Embassy of Japan and Japan International Cooperation Agency (JICA) Sri Lanka Office held a joint press conference to inaugurate this milestone decision at Ministry of Finance.

While congratulating the completion of the MOU on debt restructuring between Sri Lanka and the OCC, Ambassador MIZUKOSHI Hideaki highlighted the unprecedented initiative and outstanding contribution by the Government of Japan, as a co-chair of the OCC, in leading and concluding the public debt restructuring.

Ambassador Mizukoshi also commended Sri Lankan authorities for their ongoing efforts in implementing the comprehensive economic and social reforms essential to guide the country back to a sustainable path. He stated that all the suspended yen loan projects are crucial infrastructures that promote Sri Lanka’s economic growth and further reaffirmed Japan’s continuous and unwavering commitment to supporting Sri Lanka.

On behalf of Mr. Yamada Tetsuya, Chief Representative of JICA Sri Lanka Office, Ms. Ide Yuri, Senior Representative, handed over the official letter on this decision to Mr. Mahinda Siriwardana, Secretary to the Treasury, which is addressed to President Wickremesinghe from Dr. Tanaka Akihiko, President of JICA.

Ms. Ide Yuri expressed her hope that the resumption of Yen loan projects will contribute to stabilizing the economy and society of Sri Lanka and help gain momentum toward long-term sustainable growth, thus paving the way for Sri Lanka to recover trust and confidence from the people and private businesses of both Sri Lanka and the world.

Secretary Siriwardana expressed his profound gratitude for this decision and sincere appreciation for Japan’s excellent initiative and long-term dedication in the debt restructuring.

It is hoped that the resumption of disbursement to Yen loan projects would further strengthen the bond between Japan and Sri Lanka, as well as help this island nation bring itself back on track for further economic development, serving as a hub in the Indian Ocean.

Continue Reading

News

Cabinet takes decision following SC order on IGP

Published

on

By

During a special Cabinet briefing today (July 24), it has been decided to announce its response to the decision of the Supreme Court regarding the Inspector General of Police (IGP) within the next two days after studying in depth the legal aspects of the matter.

The special cabinet meeting chaired by President Ranil Wickramasinghe was held this evening at the Presidential Secretariat in Colombo.

The Cabinet of Ministers had been of the opinion that since the decision of the Supreme Court regarding the IGP was received only this afternoon, adequate time is needed to conduct an in-depth study of the related legal issues.

Accordingly, it was unanimously decided that it would be most suitable to announce the response of the Cabinet in the next two days.

Earlier today, the Supreme Court issued an interim order preventing Deshabandu Tennakoon from performing duties and functioning in the position of the IGP.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved