Chamuditha Samarawickrama Tendered Unconditional Apology to the Supreme Court and to Dr. Wijeyadasa Rajapakshe, P.C. in the Supreme Court, when the Contempt proceedings filed by Dr. Wijeyadasa Rajapakshe, was taken up on 4 th July, 2025.

Popular YouTube/TV journalist Chamuditha Samarawickrama today tendered an unconditional apology in the Supreme Court of Sri Lanka, to the Supreme Court and to Dr. Wijeyadasa Rajapakshe, President’s Counsel in the proceedings initiated by Dr. Rajapakshe against Chamuditha Samarawickrema and Keerthi Wickremasinghe charging them for contempt of court.
The contempt proceedings No. SC/Contempt/10/2024, was filed by Dr. Rajapakshe against Chamuditha Samarawickrama and Keerthi Wickramaratne, as the contents of the conversation they telecast through YouTube channel “Truth with Chamuditha” are contemptuous and defamatory to the Courts and detrimental to Dr. Rajapakshe, and thereby they have committed the offense of contempt of court. It was alleged that by the said telecast they have undermined and disregarded the judiciary of the country creating a suspicion about the courts system and eroding the public trust and the confidence on the judiciary.

When the case was taken up in the Supreme Court today before a bench comprising Justice S. Thurairaja, Justice Priyantha Fernando, and Justice Sobitha Rajakaruna Chamuditha Samarawickrama and Keerthi Wickramaratne tendered unconditional apology
to the Supreme Courts and Dr. Wijeyadasa Rajapakshe.

The Supreme Court strongly cautioned and warned both the respondents advancing them to conduct themselves with greater responsibility and professionalism in the future. The Court emphasized the serious legal consequences that may arise from making reckless, baseless, or defamatory public statements, particularly those targeting individuals involved in the administration of justice.

The Court further warned the respondents to refrain from defaming individuals or engaging in conduct that could potentially erode public trust in the judiciary. The message was clear: freedom of expression must be exercised responsibly, and any abuse of media platforms that disrespects the rule of law would not be tolerated.

Mr. Gamini Hettiarachchi, Attorney-at- Law instructed by Ms. Jayamuditha Jayasooriya appeared for the Petitioner, Dr. Wijeyadasa Rajapakshe P.C.
Mr. Upul Jayasuriya, P.C. appeared for Chamuditha Samarawickrama and Mr. Anura Meddegoda P.C. appeared for Keerthi Wickramaratne.

This case marks a significant reminder of the boundaries of media conduct in legal matters and the importance of upholding the dignity of the courts and public figures through responsible journalism.

Amid growing economic cooperation and regional integration, promoting Indian investments in Sri Lanka has taken on renewed significance, with over 400 Indian companies currently operating in the island across sectors including petroleum, manufacturing, hospitality, ICT, financial services, and pharmaceuticals.

India stands as one of Sri Lanka’s top sources of foreign direct investment (FDI), contributing an estimated cumulative investment of over USD 1.7 billion by end-2023. Notably, Indian ventures have played a critical role in revitalizing Sri Lanka’s post-crisis recovery, with recent examples including energy infrastructure projects and the expansion of Indian hotel chains.

In this context, a high-powered delegation from the Confederation of Indian Industry (CII), comprising CEOs from key sectors such as manufacturing, healthcare, logistics, renewable energy, education, and tourism, convened with Sri Lankan business leaders for a strategic roundtable discussion at the ITC Ratnadipa in Colombo on 30 June.

The roundtable was jointly organized by the Ceylon Chamber of Commerce and the Indo-Lanka Chamber of Commerce and Industry (ILCCI), in collaboration with the High Commission of India. The CII delegation was led by Immediate Past President and ITC Ltd. Managing Director Sanjiv Puri, while the Ceylon Chamber delegation was headed by its Chairman, Krishan Balendra.

Deliberations at the event centered on strengthening bilateral trade, improving regulatory compatibility, and catalyzing cross-border investment flows. Participants emphasized the need for fostering sector-specific collaborations through joint ventures, knowledge-sharing platforms, and continued dialogue between industry stakeholders.

Indian High Commissioner to Sri Lanka Santosh Jha highlighted New Delhi’s commitment under its “Neighbourhood First” policy, which prioritizes stronger and more generous engagement with neighboring countries. “Sri Lanka is a central part of that policy, and our approach remains non-reciprocal and inclusive,” he remarked.

Echoing this sentiment, Krishan Balendra said, “We are fortunate to be located next to the world’s fastest-growing economy. What matters now is how we leverage that proximity by building private-sector partnerships with Indian businesses.”

CII’s Sanjiv Puri added that global economic shifts are creating new opportunities for regional collaboration. “This is a moment for India and Sri Lanka to work not only for mutual benefit in our respective domestic markets but to co-create solutions for the global market as well,” he stated.

ILCCI President M. Raghuraman concluded the session by underlining the importance of continued engagement. “The progress we’ve seen is due to the determination of our business communities. Forums like this are invaluable for nurturing long-term partnerships,” he said.

The roundtable closed with a commitment to maintain momentum through structured engagement via chamber networks and regular business exchanges. Both sides expressed optimism about translating discussions into tangible investments, reinforcing the strategic value of India-Sri Lanka economic collaboration.

Sri Lanka’s renewable energy industry is sounding alarm bells over a government decision to slash solar power purchase tariffs, a move developers say could undermine years of progress toward clean energy. The Federation of Renewable Energy Developers (FRED) warns that the drastic reduction in feed-in tariffs will disrupt investor confidence, halt growth in rooftop solar, and jeopardize the nation’s long-term renewable energy ambitions.

In a strongly worded press briefing held at the Ceylon Chamber of Commerce on Friday, FRED President Thusitha Peiris accused the government of mismanaging the country’s energy transition at a critical time. “The recent actions risk dismantling years of progress and plunging our sector into an uncertain future, with severe economic and social repercussions,” Peiris declared.

Central to FRED’s concern is a recent Cabinet decision that slashes feed-in tariffs — the rates paid to private producers of renewable energy — by over 30% in some instances. The federation argues these cuts are unjustified and financially devastating, especially when macroeconomic conditions such as exchange and interest rates remain largely unchanged since the last tariff review in 2024.

“There is no economic rationale to justify such steep cuts. This is a deliberate signal to discourage investment in solar and other renewables,” Peiris said, warning that the decision has already triggered fear among developers, threatened hundreds of jobs, and eroded investor trust.

Rooftop solar power, supported by feed-in tariffs, has contributed around 1,700 MW to the national grid, vastly outperforming the 200 MW generated through ground-mounted solar via state-run tenders in the past decade. FRED maintains that replacing tariffs with a tender-based system would be a “national policy blunder,” noting that tenders have consistently failed to deliver results.

“The evidence is clear: predictable tariffs drive growth. Tenders have not,” Peiris asserted.The situation is further complicated by the government’s lack of integration of Battery Energy Storage Systems (BESS), which are critical for managing excess solar power. Despite FRED’s long-standing call for at least 1,000 MWh of BESS to be added to the grid, progress has been negligible.

Peiris also criticized the recently introduced tariff for BESS projects as “confusing and directionless,” saying it lacks clear implementation guidelines and is rendered ineffective by nearly 50% import duties, which make such projects financially nonviable. He urged the government to urgently remove these tax burdens and allow developers greater flexibility to expand existing projects.

Without urgent course correction, FRED warns Sri Lanka could fall far short of its renewable energy targets — with consequences that extend far beyond the power sector.

Sri Lanka’s licensed commercial banks have moved to calm rising anxiety among small and medium enterprises (SMEs) over the potential enforcement of parate laws, assuring that widespread asset seizures are not on the horizon. The Sri Lanka Banks’ Association (SLBA) in a statement on Monday urged borrowers not to panic and encouraged troubled businesses to proactively engage with lenders to restructure outstanding loans.

The response comes amid renewed agitation by a small group of borrowers, following the end of an extended moratorium on parate executions—a legal mechanism that allows banks to seize mortgaged assets from loan defaulters without court intervention.

“There is no intention by banks to rush into parate action,” the SLBA emphasized, pointing out that only a tiny fraction of borrowers fall into severe default, and even among them, most are given support to reschedule their loans rather than face asset seizures.

The government earlier this year extended the moratorium on parate execution until the end of 2025 for SMEs with loans up to Rs. 25 million, provided they had contacted their banks before 31 March 2025. Borrowers with loans between Rs. 25 million and Rs. 50 million have a grace period until 30 September 2025, while those with loans above Rs. 50 million had until 30 June 2025 to engage with banks. In addition, several banks voluntarily granted extensions up to December 2025 to assist struggling businesses.

Now that the moratorium has officially ended, SLBA warned that certain groups are trying to spark fear of mass auctions and asset seizures, portraying parate laws as the default response by banks.

“This narrative is not only misleading but harmful,” SLBA stated. “Parate laws are designed to safeguard depositors’ money and are used only as a last resort.” According to data from 2019 to 2023, less than 1% of non-performing loans resulted in parate action—even during some of the most challenging economic years.

The association also cautioned that spreading fear could damage public confidence in the financial system, which plays a vital role in supporting economic recovery and investment.

SLBA urged SMEs in financial distress to engage with their banks early and transparently to explore restructuring options. “The stability of the banking sector and wider economy depends on constructive dialogue, not misplaced fear,” the association stressed.

Colombo Dockyard PLC (CDP), one of Sri Lanka’s largest shipbuilding and repair facilities, is poised for a major turnaround with Indian state-owned shipbuilding giant Mazagon Dock Shipbuilders Ltd. selected to acquire a controlling stake in the company. The move, CDP says, is part of an open and competitive process aimed at reviving the financially strained shipyard, which is currently on the Colombo Stock Exchange’s watch list.

In a disclosure to the Colombo Stock Exchange yesterday, CDP confirmed that it has entered into an agreement with Mazagon Dock Shipbuilders and its current controlling shareholder, Japan’s Onomichi Dockyard Co. Ltd., for a strategic investment. The deal, referred to as the “Proposed Transaction,” is structured to take place through a capital infusion into CDP via a Rights Issue.

The company addressed growing speculation in the market following Mazagon’s public mention of a potential $52.96 million investment, which triggered confusion about the valuation of CDP shares. Clarifying the matter, the Board of Directors explained that this figure represents the full investment potential, including all shares acquired through the Rights Issue and any additional shares obtained via a mandatory offer to remaining shareholders.

CDP acknowledged that it is currently grappling with serious financial difficulties, as previously disclosed in its audited financial statements. The company has been flagged under the CSE’s watch list due to concerns over its status as a going concern. Onomichi, the Japanese shareholder that has held a majority stake in CDP for years, has reportedly declined to inject any further capital and has expressed interest in exiting its investment.

In response, CDP actively sought a new investor capable of revitalizing the company through both capital and technical expertise. After a competitive selection process, Mazagon emerged as the preferred partner. The plan involves Mazagon subscribing to the Rights Issue by taking over the rights renounced by Onomichi and potentially buying any unsubscribed shares, thereby gaining control.

Following this capital infusion, Mazagon will be required under the Takeovers and Mergers Code to make a mandatory offer to remaining shareholders, including Onomichi. CDP stressed that the investment is intended to rescue the company from potential collapse and urged investors to seek professional financial advice instead of speculating based on rumours.

The proposed Rights Issue and share pricing are still subject to Board and shareholder approvals, along with regulatory clearance. Full pricing details will be disclosed once these approvals are obtained.

Agriculture, Land, Irrigation and Livestock Minister K. D. Lalkantha stated that the Government is committed to achieving debt repayment capability by 2028, while staying on course with the reform programme agreed upon with the International Monetary Fund (IMF).

Addressing the media yesterday (July 3) following a special District Development Committee meeting held at the Kandy District Secretariat, the Minister emphasised that the current economic stability is the result of strict adherence to the IMF-backed recovery programme, and reaffirmed the Government’s determination to continue along this path.

“We are operating within the IMF framework proposed for Sri Lanka, and we have no intention of disrupting that. The present stability is due to our cooperation with the IMF. Once we complete the remaining targets, we expect to reach a position to repay our debt after 2028,” Lalkantha said.

He dismissed criticisms from the Opposition, stating that national policy decisions will not be reversed due to external pressure such as protests or strikes. “We will adjust prices according to the approved pricing formulas—whether they rise or fall. Policy will be guided by sound economics, not emotional outbursts or political noise,” he added.

Lalkantha warned that reversing essential reforms for short-term political gain would jeopardize the country’s hard-earned progress. “This country collapsed before. Now, it is recovering due to disciplined internal management. We won’t let that unravel because of populist pressure.”

Commenting on ongoing fiscal planning, the Minister revealed that discussions on the upcoming national budget are already underway. He said the Government’s intention is to offer more relief than in the previous budget while staying within the bounds of fiscal responsibility.

“The Leader of the Opposition can shout as much as he wants. We will not abandon the country’s long-term recovery path to appease short-term politics,” the Minister concluded.

Sri Lanka Customs has generated over Rs. 1 trillion in revenue during the first six months of 2025, according to Media Spokesperson and Additional Director General of Customs Seevali Arukgoda.

Speaking at a media briefing held today (July 3) in Colombo, Arukgoda expressed confidence that the annual revenue target of Rs. 2.115 trillion set by the government for this year is well within reach, given the current progress.

He attributed this strong performance to the restructuring of revenue collection mechanisms within Sri Lanka Customs, which has significantly improved efficiency and compliance.

“This achievement is a direct result of our internal reforms and operational improvements. We are optimistic that the momentum will continue through the second half of the year, enabling us to exceed the government’s expectations,” Arukgoda said.

The Customs Department plays a critical role in national revenue generation, with collections largely derived from import duties, excise, and other trade-related levies.