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Roundtable titled ‘INR-LKR Trade Settlement : Strengthening Bilateral Economic Ties’ held

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The High Commission of India organized a Roundtable titled ‘INR-LKR Trade Settlement: Strengthening Bilateral Economic Ties’ yesterday (Feb. 25) in Colombo.

The event brought together key stakeholders, including representatives from the Government of Sri Lanka, Sri Lankan and Indian banks, as well as members of various trade Chambers, media, and think tanks. Mr. Santosh Jha, High Commissioner of India to Sri Lanka and Dr P. Nandalal Weerasinghe, Governor of Central Bank of Sri Lanka graced the occasion.
The event commenced with welcome remarks delivered by the High Commissioner of India to Sri Lanka – Mr. Santosh Jha and was followed by a detailed presentation by Dr. Aditya Gaiha, Chief General Manager, Reserve Bank of India (RBI), on INR internationalization and the INR-LKR trade settlement. He also highlighted key policies of RBI which permit investments in INR in Sri Lanka. He further elaborated on RBI’s recent amendments to the Foreign Exchange Management Act (FEMA), aimed at enhancing the use of INR-LKR in cross-border transactions.

Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe provided valuable insights on the INR-LKR trade settlement framework. He underscored the importance of the mechanism and encouraged banks to engage with policy makers and central banks in both countries on streamlining the mechanism.

This initiative aligns with the commitment reaffirmed at the highest levels of leadership during the recent visit of President of Sri Lanka – Anura Kumara Disanayaka to India, where he met with Prime Minister Shri Narendra Modi. Among the key outcomes of their discussions was a renewed focus on enhancing INR-LKR trade settlements to deepen trade and investment ties between the two nations.

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SL embassy in Tehran, relocated – Vijitha

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The Sri Lankan Embassy in Tehran, Iran has been relocated amid the prevailing situation, Sri Lanka’s Foreign Minister Vijitha Herath told the Parliament today (June 17).

Embassy officials have also been moved due to the situation. In addition to embassy staff, eight Sri Lankan students who had been at the Embassy in Tehran have also been relocated to the northern part of Iran due to security concerns. 

However, all contact numbers remain operational, the minister added.

Herath said that approximately 35 Sri Lankans remain in Iran, with those residing in Tehran currently facing heightened risks. He also pointed out that nearly 20,000 Sri Lankans are presently in Israel.

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No risk of a fuel shortage – Nalinda

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Cabinet Spokesman and Minister Dr. Nalinda Jayatissa has assured that there is no risk of an impending fuel shortage in the country due to the ongoing Iran-Israel conflict.

Speaking during the Cabinet briefing earlier today (June 17), he assured that Sri Lanka currently has adequate fuel reserves to meet national demand for at least two and a half months and and that necessary arrangements have been made to procure upcoming fuel shipments without any issues.

He urged the public not to be misled by such claims on social media.

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Internal Affairs Unit is established in Parliament

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In line with the vision to build a transparent and corruption-free public service, the Secretary General of Parliament has taken steps to establish an “Internal Affairs Unit” in Parliament in accordance with the circular PS/SB/Circular/2/2025 issued by the Presidential Secretariat on 18 February 2025.

The newly established unit aims to achieve several key objectives, including the prevention of corruption, promotion of a culture of integrity, ensuring accountability and transparency in all institutional operations, and guaranteeing public access to information related to parliamentary activities and decisions. Additionally, the unit will work to promote ethical governance, encourage reporting of misconduct, protect whistleblowers through secure and accessible mechanisms, and assist law enforcement agencies and the Commission to Investigate Allegations of Bribery or Corruption in enforcing relevant laws.

Mr. Chaminda Kularatne, Chief of Staff and Deputy Secretary General of Parliament, has been appointed as the Head of the Internal Affairs Unit, while Mr. W.K.D.C. Vithana has been designated as the Integrity Officer. All department heads of Parliament will serve as members of the unit, supported by a dedicated team representing all departments.

The unit held its inaugural meeting on June 6, 2025, under the leadership of Mr. Kularatne. The meeting focused on discussing the implementation procedures in accordance with the directives outlined in the circular.

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