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Sri Lanka to sell renewable power to India

Published

2 years ago

February 17, 2023

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Sri Lanka and India will sign a pact to link power grids and start negotiations on an upgraded trade agreement within two months, Sri Lankan High Commissioner in India Milinda Moragoda has said.

India has provided some $4 billion in assistance to Sri Lanka since the crisis hit early last year, but the country is now seeking to enhance trade and investments as it moves to close a $2.9 billion loan from the International Monetary Fund, Mr. Moragoda told Reuters on Wednesday.

“We have to have growth, otherwise the economy will shrink. As far as growth is concerned, India offers that prospect. So we will have to move on from that. Tourism from India, investment from India, integration with India. That’s what we have to do,” Moragoda said.

A key part of Sri Lanka’s economic recovery plan rests on developing its renewable energy resources in the north, from where power can be transported into southern India through a cross-border transmission cable.

The two countries resumed talks on linking their electricity grids last year, and Moragoda said a memorandum of understanding on the project would be signed within two months, which will be followed by a feasibility study.

First proposed more than a decade ago, the project has made little progress so far. But Moragoda said Sri Lanka hoped to get the transmission line in place within two to three years so that renewable power produced can be sold to India.

“We need to have more sources of foreign exchange and electricity will be ideal,” he said. India is Sri Lanka’s biggest trading partner accounting for about $5 billion each in bilateral trade in 2021.

News

Court summons ex-AGM of People’s bank over major fraud

Published

46 minutes ago

July 3, 2025

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The Attorney General has filed a case against one Vithanage Don Dayananda, a former Assistant General Manager (AGM) at People’s Bank head office, for allegedly preparing and using a forged document related to a Rs.2,000 million personal guarantee bond.

Colombo High Court Judge Lanka Jayaratne has fixed the case (HC 39/2019) for trial on October 30. When the case was called on July 01, the accused had appeared in court.

It is alleged that around June 01, 2006, in Colombo, the accused knowingly prepared a forged document purporting to show that a personal guarantee bond, allegedly signed and dated July 27, 1995, by directors of Yashoda Holdings (Pvt) Ltd.had been submitted to the bank’s head office.

Despite being well aware that the document was a forged one, he had allegedly presented it as genuine evidence during the Commercial High Court Case No. 122/2004.

Therefore, the Attorney General has charged him under Section 459 of the Penal Code.

Related News :

Court orders CID to probe Rs.90 mn. fraud at People’s Bank

News

2nd round of Grade 06 admission appeals open online today

Published

1 hour ago

July 3, 2025

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The Ministry of Education has announced that online appeals for the second round of Grade 06 admissions in 2025, based on the 2024 Grade 05 Scholarship Examination results, can be submitted from today (July 03) until July 17.

Parents or guardians can submit appeals for up to three schools by visiting the official website of the Ministry of Education at www.moe.gov.lk or directly via the extension at g6application.moe.gov.lk.

News

Several showers expected today

Published

2 hours ago

July 3, 2025

editor

Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in Nuwara-Eliya, Kandy, Galle and Matara districts today (July 03), the Department of Meteorology said.

Showers or thundershowers may occur at a few places in the Uva province and in Ampara and Batticaloa districts during the afternoon or night.

Meanwhile, fairly strong winds of about 30-40 kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Trincomalee and Hambantota districts.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.