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President expresses regret over suspension of LRT project

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President Ranil Wickremesinghe expressed his regret to the Japanese Government for the suspension of the Colombo Light Rail Transit (LRT) project, which was being implemented with Japanese support.
During the official meeting in Tokyo yesterday morning (25) between President Ranil Wickremesinghe and Japanese Prime Minister Fumio Kishida, the President emphasized the need for future legislation in the Parliament to ensure that bilateral large-scale projects cannot be halted or canceled without the agreement of both parties.

The Prime Minister of Japan warmly received President Ranil Wickremesinghe, and bilateral talks commenced after a friendly conversation between the two leaders.

President Ranil Wickremesinghe expressed his gratitude to Japan for its support in helping Sri Lanka recover from its economic crisis, thanking the Japanese Prime Minister for his assistance.
The leaders also discussed new opportunities to enhance cooperation between Japan and Sri Lanka.

In another meeting held on the same day (25) in Tokyo, President Ranil Wickremesinghe met with Japanese Finance Minister Shunichi Suzuki to discuss Sri Lanka’s debt restructuring and the International Monetary Fund’s program. Subsequently, President Ranil Wickremesinghe met with Japanese Foreign Minister Mr. Yoshimasa Hayashi, focusing on strengthening long-term bilateral relations between Sri Lanka and Japan, including increased cooperation in economic and cultural fields.

Additionally, President Ranil Wickremesinghe and former Prime Minister of Japan Mr. Yasuo Fukuda participated in a breakfast meeting organized by the Japan-Sri Lanka Association in Tokyo on the same day (25).

During the meeting, President Ranil Wickremesinghe briefed the former Prime Minister of Japan on the ongoing economic recovery program in Sri Lanka. The President highlighted the favorable investment climate in Sri Lanka and extended an invitation to Japanese investors to return and invest in the country.

Furthermore, a meeting was held between the former Prime Minister of Japan, Mr. Taro Aso, and President Ranil Wickremesinghe, focusing on potential steps to strengthen the existing close and friendly relationship with Sri Lanka.

President Ranil Wickremesinghe also engaged in bilateral talks with Singapore’s Deputy Prime Minister Lawrence Wong in Tokyo on the same day (25). The President reaffirmed Sri Lanka’s commitment to implementing the Singapore Free Trade Agreement during discussions with the Deputy Prime Minister of Singapore.

(President’s Media Division)

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SLC doubles test players’ payments to boost morale

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Sri Lanka Cricket (SLC) has announced a significant increase in payments for Sri Lanka’s Test players, effectively doubling their compensation.

The decision, made by SLC, is aimed at fostering greater enthusiasm among Test players and emphasizing the importance of Test cricket, the governing body stated.

The increased payments will be implemented based on the match contracts of each player, in accordance with SLC guidelines.

As a result of this adjustment, the total payment for a Test player per international match will now amount to approximately USD 15,000, which is around Rs. 4,450,000.

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India to cover tax costs for Sri Lanka-India passenger ferry service

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The Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year for the passenger ferry service between Nagapattinam in India and Kankesanthurai (KKS).

The passenger ferry service, which was launched in October 2023 by the Shipping Corporation of India (SCI), will tentatively resume on May 13, 2024. It will be operated by a private operator, IndSri Ferry Services, selected by SCI in consultation with the Government of Sri Lanka (GOSL).

In order to make the service affordable and attractive for passengers, the Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year.

Similarly, the GOSL has reduced the deviation tax currently charged from passengers leaving Sri Lanka by passenger vessels and ships.

It should be recalled that the Government of India has also extended a grant assistance of USD 63.65 million to the GOSL for the rehabilitation of the KKS Harbour, which was earlier envisaged to be undertaken under a Line of Credit.

(dailymirror.lk)
(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

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China Pledges Full Support for Sri Lanka’s Debt Restructuring

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State Minister of Finance Shehan Semasinghe has met with the Chinese Vice Minister of Finance Liao Min.

This meeting was held on the sidelines of the ADB annual meeting in Georgia.

Minister Semasinghe said on X ”at this discussion China assured its fullest support and cooperation to conclude the debt restructuring process in Sri Lanka.”

Furthermore, he said that China reaffirmed steadfast support to Sri Lanka on all fronts.(news first.lk)

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