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Pyramid schemes a crime not a business: Siyambalapitiya

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Action will be taken under the criminal law against the institutions and individuals who operate pyramid schemes, State Minister of Finance Ranjith Siyambalapitiya said.

State Minister Siyambalapitiya said that pyramid schemes are not a business but a crime.

He expressed these views while speaking to the media after a programme held in Dehiowita.

Commenting further, he said that the Central Bank has prohibited this crime in accordance with the Banking Act No. 30 of 1988 and that action can be taken under the criminal law.

“Accordingly, the Attorney General will be informed and the complaints in this regard will be forwarded to the police and the Criminal Investigation Department (CID) and cases will be filed against these fraudulent companies and the persons who led them under the criminal law,” he said.

He said that a large number of people in the society have fallen prey to these smugglers since they only focus on temporary benefits despite the warnings issued by the Central Bank.

LPL winning Kandy team owners, B-Love, alleged of pyramids schemes

Meanwhile, Justice Minister Wijeyadasa Rajapakshe recently said in Parliament that the Lanka Premier League (LPL) tournament was a gambling den.

He said that the sponsor of the B-Love Kandy team that won the LPL championship is a company that promotes cryptocurrency which is prohibited under the laws of Sri Lanka.

The Minister of Justice disclosed about 15 betting websites that played a major role in the LPL tournament, which was held without the Sport Minister’s approval.

It was also revealed that SKYFAIR, which sponsored the titles of the tournament, was an illegal offshore betting website.

“In the LPL tournament, many programmes were held especially to promote the cryptocurrency system. The titles of the T20 franchise were sponsored by an illegal offshore betting site called SKYFAIR.”

“These sites are prohibited according to our laws. This tournament has been used to promote illegal acts. Many sponsors operate illegal betting sites. Fifteen such institutions have been identified. They are; Skyfair.News, 1xBet 1XBook, Crickets In, Kheloyar News, Babu88, SAT sport, Wolf 777, Tiger ESCH, BA Fry Coin and MTFE.”

“All these institutions are engaged in betting business or promoting cryptocurrency transactions. The winning Kandy team has also been sponsored by a cryptocurrency company called ‘Be Love’ which is a banned institution,”

The minister has a responsibility to find out whether these actions taken by Sri Lanka Cricket are illegal. And then… steps should be taken to correct them,” he said.

A Constitutional Responsibility

“The Article 108 of the Anti-Corruption Act has been newly introduced. The MPs passed the law to make giving bribes, tips and accepting them in sports as an offence punishable with seven years imprisonment and a fine of not more than Rs.1 million. This is Act No. 09 of 2023.”

“Article 109 of the Act is also related to this. Under that article, not only the SLC but also any person should explain how they have amassed wealth.”

“The minister should make that explanation. If such an explanation cannot be made, action should be taken after considering this as an offence subject to punishments.”

“The minister has the authority and he should use it. Get these proposals approved by the Cabinet. We will prepare the Bill within two weeks,” Minister Rajapakshe said.

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President leaves for Indonesia

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President Ranil Wickremesinghe has left for Indonesia this morning (18) to attend the 10th World Water Forum High-Level Meeting in Bali, at the invitation of Indonesian President Joko Widodo.

The 10th World Water Forum is being held from May 18th to 20th in Bali, Indonesia.

This significant gathering, themed “Water for Shared Prosperity,” will convene global leaders to address pressing issues related to water management and sustainability.

President Wickremesinghe left for Indonesia on Saturday, following an invitation from Indonesian President Joko Widodo, underscoring Sri Lanka’s commitment to international cooperation on water-related challenges.

Scheduled to deliver a keynote address on May 20th, President Wickremesinghe will articulate Sri Lanka’s perspective on achieving equitable access to water resources for all, the President’s Media Division said.

During the forum, President Wickremesinghe is expected to engage in bilateral discussions, including a meeting with President Widodo, to explore avenues for collaborative action in water resource management.

His delegation, comprising senior officials from the Presidential Secretariat and the Ministry of Foreign Affairs, reflects Sri Lanka’s comprehensive approach to addressing global water issues.

President Wickremesinghe’s participation underscores Sri Lanka’s proactive role in advancing sustainable solutions to ensure water security, not only domestically but also on the global stage, the PMD said.

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Mahinda, Sajith Join Indian HC At Mayurapathy Kovil Ceremony

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The procession of offerings for the Kumbhabhishekam Pooja began its journey from the Mayurapathy Kovil in Colombo, destined for the Seetha Amman Kovil in Nuwara Eliya.

A group of special representatives recently brought holy water from the Sarayu River in Ayodhya, India, considered the birthplace of Lord Rama, to Sri Lanka for the Kumbhabhishekam festival.

These offerings, including bowls containing the sacred water, were deposited at the Mayurapathy Kovil in Colombo yesterday.

Today, after a special pooja, the procession carrying the offerings began its journey.

Indian High Commissioner to Sri Lanka Santosh Jha, opposition leader Sajith Premadasa and former President Mahinda Rajapaksa were also present at this event.

The offerings are being taken to Seetha Eliya in a special procession.

The motorcade will travel to the Seetha Amman Kovil in Seetha Eliya, Nuwara Eliya.

It is believed that this temple is located in the jungle areas, where Princess Seetha was held after being brought to Sri Lanka.
(newsfirst.lk)

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Govt. to transform agriculture using modern tech – President

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President Ranil Wickremesinghe emphasized that the government plans to transform Sri Lankan agriculture using modern technology, including Artificial Intelligence (AI). The government is committed to support the private sector entrepreneurs interested in this initiative.

The President further mentioned that 100 Divisional Secretariat Divisions have been selected this year for the Agricultural Modernization Program. In the first phase, 25 Divisional Secretariat Divisions will receive the necessary facilities, while the second phase will extend modern agriculture practices to an additional 75 Divisional Secretariat Divisions.

President Ranil Wickremesinghe made these remarks during an observation tour of the AiGrow Company’s greenhouse in Nelumdeniya, Kegalle this morning (17). The inventor of Vega Car and the Group CEO of Vega innovations Dr. Harsha Subhasinghe accompanied the President on this visit. The AiGrow greenhouse is the first in Sri Lanka to utilize artificial intelligence technology.

With over seven years of experience in Sri Lanka’s agricultural sector, the AiGrow Company applies AI in both greenhouse and open cultivation, utilizing automated methods to enhance efficiency and productivity

The company designs and constructs customized greenhouses to meet specific customer requirements, offering continuous service and maintenance support for these facilities.

The company’s inaugural greenhouse, located in Nelumdeniya, Kegalle, comprises three sections where tomatoes, bell peppers and lettuce are cultivated. Additionally, AiGrow operates a separate greenhouse for mushroom cultivation.

AiGrow exports a significant portion of its harvest and supplies its branded products to local supermarkets.

Furthermore, the green agricultural automation devices produced by this company are being promoted to both local and international markets.

Additionally, AiGrow collaborates with local universities to provide educational opportunities in the field of applying AI to modern agricultural practices.

President Ranil Wickremesinghe conducted a visit to the AiGrow Company’s Nelumdeniya, Kegalle Greenhouse this morning, where he observed first-hand agricultural operations and production activities carried out using the modern technology.

During his visit, President Wickremesinghe also observed the electric three- wheelers and motorcycles developed by Dr. Harsha Subhasinghe.

Subsequently, the President participated in a discussion held at the premises, where he reiterated the government’s commitment to introducing modern agriculture to the country. He emphasized the government’s willingness to provide necessary financial support and training for this endeavour.

Additionally, President Wickremesinghe instructed officials to propose a bank loan system to facilitate this initiative.

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