By: Isuru Parakrama

Colombo (LNW): A person has been killed by gunfire in Kiththampahuwa area in Wellampitiya today (28).

Two shooters had arrived on a motorcycle and committed the shooting at the victim who was travelling in a three-wheeler, Police said.

The victim has been identified as a 47-year-old resident of Colombo 15, according to Police.

The Wellampitiya Police is conducting investigations into the incident.

Colombo (LNW): The Colombo Fort Magistrate Court today issued an order barring 24 individuals representing trade unions and political parties from entering certain parts of Colombo during a protest organised today (28).

The order has been issued as per the request of the Police, and prevents from entering the Presidential Secretariat, the President’s House, the Finance Ministry, and the Central Bank of Sri Lanka.

By: Staff Writer

Colombo (LNW): Sri Lanka has replaced the 20-year-old air operation communication system at the Bandaranaike International Airport (BIA) in Katunayake, with the latest Digital Voice Communication Switching System (DVCSS).

The Airport and Aviation Services (Sri Lanka) (Private) Limited has installed the new system at the Air Traffic Control Tower (ATCT) at the airport.

The system, made in Italy according to European standards, has been installed at a cost of Rs.670 million.

With Voice Over IP technology, it has the potential to instantly connect air traffic controllers at the ATCT with the flight, all due airports, and the radar tower, enabling simultaneous communication, clarity of communication, and credibility at a very high rate.

The installation and maintenance of the system are carried out by Sri Lankan engineers at the Electrical, Electronic, and Aviation Engineering Division of the airport. The total installation also includes a VHF air-ground communication system.

The official launch of this new DVCSS took place at the initiative of Ports, Shipping, and Aviation Minister Nimal Siripala de Silva, with the first call through the system from Katunayake to Ratmalana airport.

“The airspace and airports have been designated as safe zones, and the International Civil Aviation Organization has extended us a special commendation on this,” Minister de Silva said.

He also said that the old radar system at Piduruthalagala being used at present will also be replaced with a new radar system using the latest technology available in the world. “This will take place by October,” he said.

The Airport and Aviation Services (Sri Lanka) Ltd. (AASL) has suspended some times back the awarding of a tender to a French company which has a dubious record internationally,

AASL Technical Evaluation Committee (TEC) had been considering the awarding of a planned radar system in Piduruthalagala to a French company called Thales Group, despite its chequered history, until the intervention of the AASL Chairman Major General (Rtd.) G.A. Chandrasiri.

Upon the receipt of a complaint made by the Retired Engineers Association (REA), General Chandrasiri had suspended the awarding of the tender and ordered an internal investigation into the tender process.

The Airport and Aviation Services (Sri Lanka) Ltd. Has been directed to expedite the project calling for expression of interest from international and local bidders for joint venture project.

By: Staff Writer

Colombo (LNW): The Asian Development Bank (ADB) reaffirmed its unwavering commitment to bolster the recovery of stressed small and medium enterprises (SMEs) and praised Sri Lanka’s steadfast dedication to rebound from the economic crisis.

The assurance was extended by ADB Country Director Takafumi Kadano during a meeting with State Minister of Finance Shehan Semasinghe held at the Finance Ministry recently.

Kadano shared insights into forthcoming projects in Sri Lanka, particularly in the power sector.

He commended the success of ongoing projects in Sri Lanka with the assistance of the Asian Development Bank. He further said that the ADB is ready to provide funds to restructure several state-owned enterprises.

The ADB has allocated US$ 786 million for Sri Lanka this year for implementation of 27 projects

State Minister of Finance Shehan Semasinghe said that Sri Lanka is discussing with ADB for a credit guarantee scheme worth $200 million, to support SMEs.

“This scheme will be established and implemented by the Ministry of Finance. The discussions are progressing well,” he said.

He added that the government is very concerned about the SME sector and is keen to get them out of the furrow. “The SME sector is hit the hardest by the pandemic, and the ensuing economic crisis.

We are looking at many avenues to emerge from the bad situation.” He also said the government is expecting the banks to pass on the benefits to the sector by lowering inflation rates and reducing interest rates.

He said “We do understand the banks’ constraints but with improving economic indicators, we expect the banking sector to help out the small and medium entrepreneurs.”

SMEs make up 52 per cent of the GDP and 45 per cent of national employment.

The Ministry of Finance is negotiating another two loans with the ADB. Finance Ministry officials said that one is for banking sector stability worth $200 million and the other one is $100 million worth of loans for power sector reforms. “The banking sector stability loan is to be finalized by early next month,” one official said.

Recognizing Sri Lanka’s commendable efforts in steering clear of a crisis, ADB Country Director Takafumi Kadano highlighted the potential for progress that often emerges from adversity and expressed optimism about the ability to transition towards a sustainable, long-term economic trajectory.

With an unequivocal commitment to sustained support, Kadano underscored that the ADB’s assistance would remain resolute, especially in alignment with the initiatives of the International Monetary Fund.

He reiterated the ADB’s keen interest in conducting an in-depth study of Sri Lanka’s SME sector to identify and implement effective support mechanisms.

State Minister Shehan Semasinghe also appreciated ADB for continued assistance throughout the crisis and subsequent recovery phases.

Shedding light on the segment most severely impacted by the crisis, he emphasized the vital role of SMEs in the economic fabric, urging their swift revitalization. He highlighted the Government’s efforts in providing concessions to revive these enterprises and underlined the pressing need for additional support.