EXIM Bank of China (Export-Import Bank) submitted a comprehensive program in its financial support document on January 19 to ‘strongly support’ Sri Lanka’s debt restructuring process with the International Monetary Fund (IMF) and it includes short, mid and long-term measures for debt treatment, a diplomatic source from the Chinese embassy said.
Sri Lanka is seeking the support of all the creditors to unlock the US $ 2.9 billion program with the IMF in four years.
According to the source, it is not just a two -year moratorium on debt repayments. “The two-year moratorium on borrowings is only part of the support to help relieve Sri Lanka’s immediate debt repayment pressure,” the source said.
“The Bank would like to have friendly consultation with Sri Lanka regarding medium and long term debt treatment in this window period; and the Bank will make best efforts to contribute to the debt sustainability and the future development of Sri Lanka. Only the short term measure is talked about in the media. It is incomplete and inaccurate,” the source said.
China calls on commercial creditors including the ISB holders to provide debt treatment in an equally comparable manner, and encourage multilateral creditors to do their utmost to make corresponding contributions.
“We also call on the IMF to take into full consideration the urgency of the situation in Sri Lanka and provide loan support as soon as possible to relieve the country’s liquidity strain,” the source said.
EXIM Bank works as the official bilateral creditor representative of China in dealing with the IMF.
Sri Lanka owes US $ 7.4 billion to EXIM Bank and China Development Bank according to the Ministry of Finance.
Elections Commission says the LG Election will not be held on 9th March: new date to be notified on 3rd March, 2023.
Former CB Governor Ajith Nivard Cabraal says multilateral lenders IMF, World Bank & ADB who enjoy the status of “Senior Creditors” must also have their loans restructured like other bilateral and commercial creditors, in any sovereign debt re-structuring exercise: also says he urged IMF top management in March 2020 to grant a moratorium of at least one year on all emerging nations’ debt due to “Senior Creditors” at the onset of the Covid-19 pandemic: laments that was not done, unfortunately.
Finance officials from China and US to discuss debt and other issues today: the US has repeatedly criticized China’s stance in relation to debt relief for low and middle-income countries including Sri Lanka: meanwhile, the US-backed “Senior Creditors” IMF and World Bank have been reluctant to grant any concession whatsoever to debt-distressed countries.
State Minister Lasantha Alagiyawanna appointed as the Chairman of the Committee on Public Accounts (COPA).
IUSF convenor Wasantha Mudalige and 62 others who were arrested for focibly entering the Education Ministry, remanded until 26th February.
New Central Bank Bill published: under the new law, the Central Bank to have “administrative & financial autonomy”: provides for a “Governing Board” to oversee management with the Governor as Chairperson and 6 others who have expertise in economics, banking, finance, accounting & auditing, law or risk management.
President Ranil Wickremesinghe announces plans to make Sri Lanka a year-round tourist destination: also outlines program to attract over 2 mn tourists including those spending USD 500 per day: says Committee appointed to implement plan: stresses importance of better and positive publicity.
President Ranil Wickremesinghe says Bar Association President, Saliya Pieris should not be representing the Election Commission in cases related to the LG poll as Pieris is a “political’ lawyer.
Self-proclaimed SJB Economic Guru Harsha Silva claims he had been “illegitimately removed” as Chairman of COPF as he had become a headache to a “bunch of rogues” in a “bankrupt nation”: previously, Silva was at the forefront in demanding that the Govt defaults on ISB debt, which had massive “cross-default” consequences.
GMOA spokesman Dr. Chamil Wijesinghe says the Govt is planning to reduce the salaries of those in the health sector by 15%: alleges the Health Secretary has issued a circular instructing the reduction: emphasises the entire health sector is in crisis.
If we analyse the political, economic, social and cultural events that have taken place over the past seventy-five years in Sri Lanka – since independence, we have a lot to learn: mistakes and lessons.
No matter where one lives today, his or her life and contribution to the island’s history is short – maybe a few decades.
For the last thirty-three years (33) – I have been writing articles based on facts and reality to educate those who tell history in a biased or distorted way. Some who read my articles are furious, branding me with various labels to their convenience. They fail to look at the message rather than the messenger. There was a time when a serious accusation was made against me that ‘Interpol’ was looking for me and I had gone into hiding. I brought this matter to the UN Special Rapporteur on Human Rights Defenders and she sought clarification from Interpol. Then, jointly with the UN Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, she wrote a letter dated 11 August 2011 (Ref. Reference: UA G/SO 214 (67-17) G/SO 214 (107-9) LKA 3/2011) to the Sri Lanka Ambassador in Geneva, stating that “Interpol reportedly holds no information concerning Mr. Kirupaharan in its files”.
As far as I am concerned, anyone dedicated to human rights cannot work without facing slander. However, my reply to those who accused me is that “dogs bark and caravan moves on”.
Within the last three decades of my task in the UN Human Rights Forums in Geneva, I have met hundreds of diplomats, VIPs, UN officials and others. In UN side-events, I have argued and debated with almost fifteen different Ministers and VIPs of various Sri Lankan governments, in the presence of international observers and participants. I would proudly say that no other person has acted in this manner in the history of Sri Lanka, speaking up and putting their own life at risk. These are matters well documented by the media, especially some print media in Colombo.
Some events
When we look at the sequence of events that have taken place since independence, linked to various governments and citizens, especially in the North and East, one notices how disturbing and frustrating life is. Here are some examples:
Following independence, the Up-country Tamils were stripped of their citizenship and voting rights. In 1949, when the Indian-Pakistani citizenship bill was voted in parliament, Mr. G.G. Ponnambalam who was then a minister, voted in favour of this bill.
There were five communal riots (1956, 1958, 1977, 1981 and 1983) against Tamils all over the island. In each riot – hundreds, thousands were killed and millions of rupees worth of their properties were destroyed and looted.
In 1956, the Sinhala only Language Act was passed in parliament. During that time Tamil leaders were violently attacked by thugs in front of the old Parliament in Galle face, Colombo.
In 1959 democratically elected Prime Minister S.W.R.D. Bandaranaike was assassinated by a Buddhist Monk. Following the signing of the Sirimao-Shastri pact in 1964, thousands of Tamils who had been living in the Up-country for more than a century were sent back to India.
The JVP began in 1967. In 1971 their attempt to take over the government by armed struggle failed and hundreds, thousands of youths from the South were killed and imprisoned.
In 1972, Sri Lanka was declared as the Republic of Sri Lanka. During the same year, ‘standardisation’ in education was introduced to limit Tamil students entering University.
At the fourth Tamil Research Conference held in Jaffna in 1974, nine Tamils were killed. In 1978, Sri Lanka was declared a Democratic Socialist Republic and an Executive Presidential system was introduced.
In 1979 following the introduction of the Prevention of Terrorism Act – PTA in Sri Lanka, a large number of youths were killed and imprisoned in the North and East. In 1981, the Jaffna Public Library was set on fire and destroyed. It had housed 95,000 volumes of books including culturally important and irreplaceable historical manuscripts documents were also destroyed.
In October 1982, J.R.Jayawardene was re-elected as Executive President of Sri Lanka. In this Presidential election, Vijaya Kumaratunga and T.B. Ilangaratne campaigned for the main opposition candidate Hector Kobbekaduwa. Both of them and a few others were accused as Naxalites and imprisoned under the Emergency Regulations.
In December 1982 a Sri Lankan national referendum was held, to extend the life of parliament by 6 years. Opposition parties described this as a dictatorial move by J. R. Jayawardene who was re-elected as the President in October.
In 1983, late Member of Parliament Vivienne Goonewardena carried out a demonstration against the US military base in Diego Garcia. She was physically assaulted by the Police.
The year 1983 marked the worst ethnic riot against the Tamils. Thousands of Tamils were killed. During the same period, 53 Tamil prisoners in Colombo’s Welikadai prison were murdered by fellow Sinhala prisoners.
At the same time, the Sixth Amendment act was passed in Parliament, preventing anyone from demanding external right to self-determination.
Again in 1985-1989 there was an uprising of the JVP. In gross and massive human rights violations a huge number of youths – especially JVP members, academics, religious leaders, MPs, government forces and others were killed and ‘disappeared’.
On 21 April 2019, on Easter Sunday, 270 people including 45 foreigners were killed and more than 500 injured by suicide bombers in three churches and three hotels in Colombo and other areas.
Non-violent and Armed
The non-violent struggle carried out by the Tamil leaders for almost thirty years was continuously suppressed violently by different governments.
It is history, that in 1957 the Banda-Chelva pact, and in 1961 Dudley-Chelva pact to grant Federal system to the North and East, were arbitrarily destroyed by SWRD Bandaranaike and Dudley Senanayke, due to protests carried out by politicians in the South and Buddhist monks.
In 1976, the Tamil United Liberation Front – TULF was formed. In the parliamentary elections held in 1977, the TULF contested the election with a manifesto for establishing the external right to self-determination for the North and East. The TULF overwhelmingly won this election, and even became an opposition party in parliament.
In 1972 Tamil militancy began with minor incidents. In 1984 it came to the stage of a war between Sri Lankan security forces and militant groups. In 1985, the ‘Thimbu talks’ took place in the capital of Bhutan, between all factions of the Tamils and representatives of the Sri Lankan government. These talks were unsuccessful. Since then, several talks have taken place but nothing produced any fruit.
In 1987 the Indio-Lanka accord was signed. The Indian Army (IPKF) arrived in the North East and the same year the war started between the Indian Army and the Liberation Tigers of Tamil Eelam (LTTE). Thousands of people were killed in the North and East and their properties were looted by Indian soldiers.
The IPKF was withdrawn from the North and East in 1990. In 1990 an economic embargo to the Jaffna peninsula was introduced and gross human rights violations took place. The LTTE administered a de-facto government equal to the government of Sri Lanka, until the war ended in Mullivaikal in May 2009.
Where are we now?
On 13th February 2023, Mr. Pala Nedumaran, a senior politician of Tamil Nadu who was an associate of late Prime Minister Gandhi announced that the leader of the LTTE, Pirabaharan, who was presumed dead in May 2009 is alive and will come into public soon. I wrote an article regarding this matter in August 2016.
My article was about what was said by India’s retired naval officer, Professor Kagil Subramaniam. During his visit to Colombo, on 13 September 2015, he gave an interview to an English print media saying that ‘it could not be Pirabhakaran’s body that was photographed and telecast to the public’. The professor said, “There were no chances of Pirabhakaran shooting himself as many are claiming now. If so there would have been a proper fingerprint and a DNA test conducted.”
The two reasons cited by him are: 1) that no ‘death certificate’ of his death has been issued by Sri Lanka to India and 2) the statement given by Sri Lanka to India was on the request of the Attorney General. The Colombo High Court had stated ‘presumed dead’ and no ‘genetic analysis’ (DNA) had been conducted either in Sri Lanka or India. Also, his fingerprints had not been examined.
Prof. Subramaniam said that the statement given by Sri Lanka to India read as follows: “LTTE leader Velupillai Pirabhakaran was presumed to have been killed on the last day of the Eelam War IV at Mullivaikkal in Nandikadal on 17 May 2009 and no evidence exists for him being alive, therefore, he is presumed to be dead judicially”.
In this interview, Professor Subramaniam also stated that Pirabaharan was said to have died on May 17, 2009. But his death was officially announced on May 19.
In my article of August 2016, I questioned why the Sri Lankan government, the Ministry of Defence, Gotabaya, Mahinda, Sarath Fonseka and others never came forward to object to Professor Subramaniam’s statement, after all it had been published in one of the Colombo newspapers.
But now, after thirteen years, especially after Mr. Nedumaran’s statement on 13 February, the spokesperson of the Sri Lanka Army claims that they have the ‘DNA’ of Pirabaharan. However former naval officer, Minister and the Member of Parliament Sarath Weeraseka said to the BBC on 13February: “this is our problem, why should we give DNA to others?”
Whoever, one should “tell the truth and live uprightly”. In my articles I always say: “when the facts are delayed, lies take the space”. Now huge confusion has been created among the people.
Current situation
If we examine the current political situation of the North and East – the South has completely forgotten the consequence of thirty years of the ethnic bloody conflict and also the ‘de-facto state’ that was in existence in large parts of the North East for more than two decades.
The war was won with the support of the international community on a promise that as soon as the war came to an end, there would be a political settlement – not simply on the basis of the 13th amendment, but it would be an enhanced solution called ‘13th plus’.
Now thirteen years have passed. There is no light of any political solution to the bloody conflict. It is surprising why now some Southern politicians are objecting and Buddhist monks are demonstrating against the 13th amendment which has been part of the constitution for more than three decades.
It is a mystery why, during the war, these politicians and Buddhist monks never demonstrated against the government, which was telling the international community that, ‘it will not be the 13th amendment, but it will be the 13th plus’. Significantly, Ranil Wickremasinghe agreed to the Oslo declaration which endorsed, “ …the principle of internal self-determination in areas of historical habitation of the Tamil-speaking peoples, based on a federal structure within a united Sri Lanka”.
There are politicians in the North and East who have claimed that the 13th amendment is no solution to the ethnic conflict. Here we can see a parallel between extremists in the South and the North and East. If so, what will be the future of Sri Lanka?
It has been a miserable story for the last seventy-five years. The people in the North and East are frustrated and losing patience….. so, do the extremists in the South expect another bloody conflict in the island? Is there any way to prevent it and live peacefully as equal citizens? Do the extreme elements pave the way for this?
Now it seems that the time has come for all to think very carefully and get into action rather than continue to fuel hate among innocent citizens.
Sri Lanka’s cricket board today announced a profit of US$ 14 million last year, far above all previous records despite one of the worst on-field performances by the islanders in years.
Revenues, at six billion rupees, were roughly double 2016 figures, Sri Lanka Cricket said in a statement.
This record marks a 3-fold year-on-year increase compared to the Rs. 2.1 billion of net profits earned in 2021, SLC claimed
“This was a result of SLC’s strategic growth plans and prudent financial management,” the board said in a statement.
The latest growth in net income was mainly generated from four revenue segments, which are international cricket, domestic cricket, sponsorship contracts, and ICC annual member ship disbursements..
Sri Lanka Cricket invested a sum of Rs. 2.27 billion on domestic cricket in 2022, which was utilized to play domestic tournaments, operate the high performance center, pay compensation for domestic players and officials, and also finance school cricket development.
Stadium management and administration grants for district and provincial associations, and member clubs totaled Rs. 599 million during the year under reference
The board did not elaborate on its dramatic turnaround.But sources attributed the sharp rise in profits to a packed 2017 calendar which featured home series against Bangladesh, India and Zimbabwe.
Earnings from the broadcasting of the Indian tour were thought to be a major contributor to the coffers, but Sri Lanka Cricket would not comment.
The record-breaking profits were the only good news from an otherwise woeful spell for Sri Lanka cricket, with the islanders enduring their worst year on the pitch since winning the World Cup in 1996.
They suffered a full series defeat against India and humiliatingly lost a home one-day series to bottom-ranked Zimbabwe.They also bowed out early from the Champions Trophy in June last year
During the year under reference, Sri Lanka Cricket invested Rs. 4.2 billion on playing international cricket, consisting of inbound and outbound tours of the national team, the “A” team, junior team tours, and the national women’s team tour expenses.
Rs. 1.2 billion was invested in fulfilling Sri Lanka Cricket’s corporate social responsibility program, which consisted of a grant of over Rs. 900 million for the country’s health sector (including donations for the Apeksha Cancer Hospital and Lady Ridgeway Hospital).
it has provided over Rs. 278 million for the National Sports Fund, among other grants such as Rs. 25 million to renovate the Gangarama Rajamaha Viharaya in Kandy, etc
Qatar and Sri Lanka have embarked on significant developments in bilateral relations this year, and seek to further boost cooperation in areas that matter to both countries, Ambassador of Sri Lanka H.E. Mohamed Mafaz Mohideen has said.
Sri Lanka seeks to enhance the longstanding ties with Qatar by focusing on untapped potentials in the corporation, Ambassador Mohideen said, addressing a reception held on Tuesday at The Westin Doha Hotel to mark the country’s 75th Independence Day.
The event was graced by Minister of Labour Dr. Ali bin Smaikh Al Marri; Minister of Social Development and Family H E Maryam bint Ali bin Nasser Al Misnad; and Director of the Protocol Department Ambassador H E Ibrahim Yousif Abdullah Fakhroo. They were joined by members of the Sri Lankan community.
Addressing the guests, Ambassador Mohideen said: ”Sri Lanka has a long standing relationship with Qatar, established in 1976 with ambassadorial level diplomatic relations and reinforced through high level visits and several bilateral agreements.
He expressed the belief that there is much untapped potential in our partnership and cooperation.”
“Therefore, he proposed to take a leap forward in the relationship from a declaration phase to an implementation phase in generating tangible outcomes on the agreements that we have reached with the blessings of our leaders and policy makers,”.
Ambassador Mohideen noted that Sri Lanka is seeking to develop ties in trade and commerce, tourism, education and other areas.
“On the bilateral front we have seen significant developments this year. Qatar Charity has recommenced their work in Sri Lanka which would provide tangible outcomes benefiting vulnerable and marginalized communities.
Discussions are also underway between the Ministry of Education in Sri Lanka and Education Above All Foundation in order to provide assistance in the education front,” he added.
Ambassador Mohideen also added that the Sri Lankan embassy in Doha seeks to establish a Foreign Ministry level consultation committee; organise the third session of the Qatar-Sri Lanka Joint Economy, Commercial and Technical Commission; and create a platform which would act as an umbrella organisation in promoting trade between Qatar and Sri Lanka.
He also emphasized on the ongoing economic challenges in Sri Lanka and said that the country has overcome several hardships in the past with resilience, and lauded the support extended by Qatar in overcoming the situation prevailing in Sri Lanka.
“Similarly, here’s my profound belief that showing the same resilience that we as one nation could overcome the economic challenges; synergize in our energies within and outside our country with the assistance and partnership of our true international friends such as Qatar,” said Ambassador Mohideen.
A short documentary on the diversity and beauty of Sri Lanka was screened, and traditional dance and songs were performed for the guests.
Apparel exports in January had sunk to lowest for the month in the past five years, reiterating industry’s concerns that 2023 will be very challenging.
Exports in January amounted to $ 396.6 million, down sharply by 18.6% from the previous year. The 2023 January performance dipped beyond the previous lowest of $ 397.61 million in 2021.official data shows.
The best January performance of $ 452 million was in 2019 in which year exports hit a record $ 5.3 billion before being overtaken last year.
Exports in January 2023 to the US were down by 24% to $ 162 million from a year earlier and to the EU by 19% to $ 113 million. Shipments to the UK were down by 8% to $ 56.3 million and other markets down by 10% to % 65 million.
The 2023 January performance marked the fourth consecutive year-on-year monthly decline though month-on-month it had been a bit erratic.
Apparel exports in 2022 managed to grow by 10.7 % to a record $ 5.4 billion largely aided by stellar performance in the early part of the year. Overall textile and garments exports grew by 9.5% to $ 5.95 billion.
One reason for negative growth in recent months is higher inventories both at store-level and with consumers. High inflation in key markets is another factor. In the 4Q of 2022 the apparel industry experienced a 15-20% decline in orders
Due to these factors industry analysts said Sri Lanka’s apparel exports could continue to be lower YoY basis until the first half of 2023 or beyond.
In the short- to medium-term, if exports were to increase new markets or greater access to emerging or high potential markets is key. In this regard, early finalization of proposed Free Trade Agreements proposed by the President Ranil Wickremesinghe-led Government is paramount, analysts stressed.
The other stimulant will be Sri Lanka manufacturers and exporters managing to keep their costs down for which the country’s macroeconomic fundamentals and indicators as well as ease of doing business need to improve.
Last week the apparel industry fumed against the 66% increase in electricity tariff by the Government warning it was a severe blow to its competitiveness.
“The current increase is a further 31% with an overall increase of 165% since June 2022. This translates to an increase in manufacturing costs of close to 5% just on electricity,” the Joint Apparel Association Forum said.
With the increases that have gone through, this will leave Sri Lanka with a tariff of around 12 cents per kWh, which will undoubtedly make Sri Lanka uncompetitive and unattractive to investors.
The Rubber Product industry, the 4th largest export earning industry accounting for 8% of the total national exports , has brought US$977 million as export income into Sri Lanka mainly from tyre exports.
The South Asian country intends to increase revenue from rubber products to $3 billion by 2025 by improving the standard of small holders and the rubber value chain while supporting rubber farmers. ,
The Rubber Improvement of Value Chain and Embedded Smallholders Resilience (RIVER) project yesterday entered into a memorandum of understanding (MoU) to start off a project supported by the French Government and top tyre manufacturer – Michelin Group to support 6,000 rubber farmers.
The initiative is supported by the French Government, Michelin Business Consortium and Michelin Lanka Company.
The project will support farmers to improve their value chain of rubber products and expand their capacities through this project for three years.
The implementation of the project will benefit 6,000 small-scale rubber estate owners in Badalkumbura and Medagama areas in the Monaragala district. The project is expected to benefit approximately 30,000 Sri Lankans.
The industry provides direct and indirect employment opportunities to over 300,000 persons.
This initiative is financially supported by the Michelin Group, and its operations are carried out by the Michelin Lanka Company, the group›s local subsidiary. France-based Ksapa Group will implement the project under the guidance of the Plantation Industries Ministry and the French Embassy.
There will be 565,000 Euros committed to the project for the development of green ideas, with a total expenditure of roughly 1 million Euros. The grants are invested as part of a public- private partnership led by the French Ministry of Economics and Finance.
Major markets for finished rubber products are the US, Germany and Japan, while Pakistan, Germany and Japan are major markets for natural rubber from Sri Lanka, he added.
The main types of rubber produced in Sri Lanka are Ribbed Smoked Sheets (RSS), LatexCrepe, Sole Crepe, brown crepe, technically specified Rubber (TSR) and Centrifuged Latex.
For its unique properties, Sri Lanka’s Natural Rubber has a high demand in the world market.Currently Sri Lanka is the only manufacturer of the best quality Latex crepe rubber in the world and also the largest exporter of same.
Latex Crepe is the highest quality natural rubber and generally considered as the Rolls Royce of rubber and fetches a premium price over all other types and grades. Sri Lanka’s total production of natural rubber in the year 2022 was 70,867 MT.
Other products are pneumatic tyres, latex gloves, rubber flooring, mats, automatic components, sealing rings, rubber bands, straps, hoses and hot water bottles for the export market
Plantation Industries Minister Dr. Ramesh Pathirana, said through this project, rubber and other diverse crops are grown, clones are selected, latex is collected, fertilisers are applied, training in chemical use is provided, and skills such as entrepreneurship, human resource management, leadership, and responsible labour management practices are developed.
The committee on Public Finance, met for the first time yesterday (23) under the patronage of newly appointed chairman, Member of Parliament Hon. Mayantha Dissanayake.
In terms of the Standing Orders of Parliament, Member of Parliament Hon. Mayantha Dissanayake, representing the opposition, was nominated as the Chairman of the Committee on Public Finance by the Committee of Selection which met yesterday. Several Members of Parliament representing the ruling party and opposition were present in this meeting.
The Sri Lanka Podujana Peramuna’s inaugural rally scheduled for the local government elections has been canceled.
The rally was scheduled to be held today (24) in Anuradhapura.
However, Member of Parliament SM Chandrasena said that considering the ongoing court case regarding the election, his party decided to cancel the rally.
President Ranil Wickremesinghe says the Election Commission has not taken an official decision on a date to hold the Local Government Election: insists the election has not been postponed: also says there is no election to be postponed.
SLPP Rebel MP Dullas Alahapperuma questions why the UNP handed over nominations to the LG elections if the election was not legally declared as stated by President Ranil Wickremesinghe: claims what was said by the President in Parliament was completely false: also says it is now clear who was behind the move to postpone the LG polls.
Supreme Court postpones hearing of the petition filed by a Retired Colonel of the Army, seeking a postponement of the LG Elections, until 11th May.
SJB MP Mayantha Dissanayaka appointed Chairman of the Committee on Public Finance: Harsha Silva throws tantrum in Parliament after he is overlooked for the position: SLPP MP Professor Ranjith Bandara elected Chairman of COPE, defeating SJB MP Eran Wickramaratne by 16 votes to 7.
Attorney General informs Supreme Court that President Ranil Wickremesinghe has decided he will not sign the implementation of capital punishment ordered by any Court.
Police arrest IUSF Convener Wasantha Mudalige and 55 others for forcibly entering the Education Ministry in Battaramulla: group includes student Buddhist monks of the Buddhist and Pali University in Pitipana.
Secretary, Unawatuna Hoteliers’ Assn Sumith Ubesiri says hoteliers are struggling to survive after the recent electricity tariff hike: also says the present circumstances are so bleak they will be forced to decide shortly whether to continue in the industry or not.
Cabinet reviews progress of 261 large-scale development projects: notes that progress of majority of projects has been very slow due to the suspension of foreign currency tied to particular developments: also notes difficulties in securing the necessary money due to the economic crisis.
Sri Lanka’s Ambassador to Qatar Mafaz Mohideen says Qatar and Sri Lanka have embarked on significant developments in bilateral relations this year: also says the two countries are seeking ways to further boost cooperation.
Sports Minister Roshan Ranasinghe appoints a 10-member Expert Committee to prepare a new Constitution for Sri Lanka Cricket: meanwhile, Sri Lanka Cricket earns a net profit of Rs.6.3 bn in 2022, it’s highest annual net income in history.
