Sri Lanka is adopting more American Bell 206 helicopters and a Pakistani Chengdu J-7 aircraft to enhance the country’s air force capabilities.

The investment stipulates eight of the 206 systems in their TH-57 Sea Ranger military derivative ordered from Washington DC and a single Chinese-made J-7 in its FT-7 export trainer variant from Islamabad.

Sri Lanka Air Force (SLAF) Commander Air Marshal Udeni Rajapaksa confirmed that the Bell fleet is scheduled to arrive later this year.

Meanwhile, Rajapaksa’s recent bilateral meeting with Pakistan allowed the FT-7 order to be delivered as a grant, with the shipment expected “in the near future.”

A Pakistani Chengdu F-7PG aircraft conducts a training mission during a multinational exercise Dec. 9, 2009, in Southwest Asia. Aircrews from France, Jordan, Pakistan, the U.A.E., the U.K. and the U.S. are training together in the Air Forces Central area of responsibility.

A Pakistani Chengdu F-7PG aircraft. Photo: Michael B. Keller/Wikimedia Commons/US Air Force

“By acquiring modern drone security units and advanced air defence weapons, the SLAF has initiated a programme in collaboration with the government to upgrade both the air defence and radar systems,” Rajapaksa remarked.

“As the government aims to boost the economy by enhancing the tourism industry, the Sri Lanka Air Force has also launched several programmes to support these efforts.”

Airborne Fleet Expansion

The SLAF’s latest project follows the service’s induction of a Beechcraft King Air 360ER aircraft last year as part of a contract signed with US-based aerospace company Textron Aviation in 2022.

Concurrently, the military received a Beechcraft King Air 350 from the Royal Australian Air Force to bolster Sri Lanka and Canberra’s maritime security partnership across the Indian Ocean.

Sri Lanka is also engaged with Tel Aviv’s state-owned Israel Aerospace Industries to upgrade the SLAF’s existing Kfir fourth-generation fighter jets.

The modernized planes will obtain Kfir’s latest C12 configuration, replacing the air force’s older C2 and C3 models by 2025.

Additionally, the South Asian government accepted two Harbin Y-12s from China to bolster its tactical airborne cargo and personnel transportation.

Air Marshal Rajapaksa said that with those aircraft the  SLAF has already initiated surveillance operations in Sri Lanka’s seas  to combat maritime threats such as drug trafficking, human smuggling,  and illegal fishing, while also protecting local fishermen and naval  personnel from piracy.  

In addition to these new acquisitions, the SLAF is in the  process of modernising its fleet of Kfir fighter jets. An agreement signed with Israel Aerospace Industries (IAI) in 2021 will see five Kfir  jets upgraded.  

The Commander confirmed that the upgraded C12 Kfir jets,  replacing the older C2 and C3 models, will be integrated into the SLAF  fleet in 2025. These jets will play a crucial role in surveillance  operations across the Indian Ocean.  

.“By acquiring modern drone security units and advanced air  defence weapons, the SLAF has initiated a programme in collaboration  with the government to upgrade both the air defence and radar systems.

 As the government aims to boost the economy by enhancing the tourism  industry, the Sri Lanka Air Force has also launched several programmes  to support these efforts,” the commander said.         

The Central Bank of Sri Lanka (CBSL) has directed licenced banks to establish Relief Banking Units to aid troubled Micro, Small, and Medium Enterprises (MSMEs), as outlined in Circular No. 01 of 2025. This is in addition to existing Business Revival Units mandated by a previous circular. The new units aim to provide effective implementation and monitoring of relief measures.

Banks can reschedule loans for eligible borrowers up to 10 years, contingent on repayment capacity and revival plans. Borrowers and banks must agree on terms, including interest rates, aligned with prevailing benchmarks. Disputes over auctioned property valuations must be addressed through transparent grievance mechanisms.

To enhance accountability, banks must report relief measures granted to borrowers monthly, starting 31 January 2025. The measures follow MSME complaints over perceived inadequacies in CBSL’s previous relief efforts and criticism of its response to the government’s loan freeze extension.

Deputy Minister Chathuranga Abeysinghe stated the relief targets loans under Rs. 25 million, covering 99% of debt-affected businesses. He emphasized the need for collective efforts from the government, banks, and businesses to overcome the debt crisis.

Key relief measures include:

Rescheduling non-performing loans classified after 1 April 2019, provided discussions with Business Revival Units begin by 31 March 2025.

Finalizing rescheduling agreements by 15 June 2025, with repayments starting between June and December 2025, based on loan size.

Waiving unpaid interest accrued between April 2019 and December 2024 for eligible borrowers.

Offering additional working capital loans and refraining from rejecting new loan applications solely due to adverse CRIB records.

Borrowers denied relief can appeal to the CBSL’s Financial Consumer Relations Department. Banks must provide detailed breakdowns of credit facilities upon request and collaborate with borrowers to ensure consistent application of relief measures. Borrowers are urged to engage with banks promptly to finalize repayment plans, as prolonged non-repayment may strain both parties.

 These measures align with the National People’s Power (NPP) government’s election promise to establish a dedicated Relief Bank, aiming for sustainable economic recovery while addressing MSME concerns.

The new Sri Lankan government has pledged to revolutionize industrialization, aiming to foster business growth and economic benefits for its citizens.

The Ministry of Industries and Entrepreneurship Development, under the leadership of Deputy Minister Chathuranga Abeysinghe, is spearheading these efforts with a focus on policy-making, industrial support, entrepreneurship, SME development, export promotion, and effective management of State-Owned Enterprises (SOEs).

The ministry oversees 29 institutions, including significant organizations like the Industrial Development Board (IDB), National Enterprise Development Authority (NEDA), and Export Development Board (EDB), alongside SOEs managing resources such as minerals, textiles, and ceramics.

Over the past 40 days, the Ministry has centered its efforts on stabilizing SOEs, addressing the SME debt crisis, restructuring institutions, and providing targeted support to priority industries. Recognizing the financial instability of many SOEs, the Ministry has appointed new boards and developed recovery strategies to mitigate risks.

These initiatives are part of a broader high-level strategy aligned with the government’s vision for industrialization, as outlined in the 2025 budget.

The SME sector, which has been severely impacted by the economic crisis, has also received significant attention. Collaborating with the Ministry of Finance, the Ministry has secured temporary relief through an extension of the Parate law and is advocating for a sustainable debt resolution framework.

Institutional restructuring has been a priority to eliminate duplication among entrepreneurship support organizations.

A comprehensive model is being developed to offer lifecycle-based support for entrepreneurs, ensuring seamless assistance from startup phases to growth stages.

Meanwhile, targeted interventions in 20 key industries, including vehicle assembly, pharmaceuticals, dairy, fisheries, and gems and jewelry, have sought to address challenges in areas like taxation, labor, and certification.

Public engagement has been a hallmark of the Ministry’s approach, with weekly sessions addressing over 200 individual concerns in just five meetings. Ministers have also held over 50 discussions with organizations and embassies to explore investment opportunities and foster international partnerships.

Looking ahead, the Ministry has unveiled an ambitious set of initiatives designed to drive innovation and growth. These include a strategic direction for mineral resources, restructuring SOEs, and introducing a framework to measure SME excellence. A Rs. 50 billion collateral-free startup loan facility and a venture capital fund are planned to support emerging businesses. The ministry also intends to launch a nationwide handloom strategy, develop four new industrial zones, and implement digital transformation projects to enhance efficiency and service delivery.

Other upcoming activities include creating an industrial data database, establishing standard operating procedures for metal distribution, addressing SME funding issues, and reviewing policies related to electric vehicles and tariffs. The ministry also aims to evaluate existing industrial zones and implement a digital transformation strategy to streamline operations.

Through these comprehensive measures, the Ministry of Industries and Entrepreneurship Development is committed to addressing immediate challenges while laying a solid foundation for long-term industrial and entrepreneurial success in Sri Lanka.

Colombo City Marina is set to become a premier attraction in Sri Lanka’s bustling capital. Combining luxury and innovation, this landmark project will offer visitors the unique experience of sailing through Colombo’s picturesque waters while admiring the city’s modern skyline.

 Officials from the Ministry of Tourism emphasize that the Marina will leave a lasting impression, creating unforgettable memories for all who visit.

As South Asia’s first luxury yacht marina, this development will accommodate up to 250 mid-sized vessels and will be situated within the renowned Port City Colombo.

The Marina precinct is designed to feature world-class hotels, fine dining establishments, upscale retail outlets, entertainment centers, and leisure spaces, making it a comprehensive hub for luxury and recreation.

The groundbreaking ceremony, scheduled for Friday, will be graced by Foreign Affairs and Tourism Minister Vijitha Herath. Officials believe this initiative will solidify Colombo’s reputation as a key destination for marine tourism and business.

Global Collaboration with Strategic Vision

The Colombo City Marina project is a collaboration between China Harbour Engineering Corporation (CHEC Port City Colombo Ltd.), Browns Investments PLC, and LOLC Holdings PLC. Browns Investments, the parent company of Colombo Marina Development (Pvt) Limited, holds strategic importance under the Colombo Port City Economic Commission Act of 2021, granting it incentives to support economic growth.

The project encompasses four leased plots within Port City Colombo, offering docking facilities for 243 yachts along with a state-of-the-art capitainerie. Additionally, the Marina will feature exclusive guest clubs, banquet halls, retail areas, gourmet restaurants, and recreational amenities, promising an all-encompassing luxury experience.

Driving Marine Tourism and Economic Growth

Upon completion, the Marina aims to become South Asia’s leading marine tourism and leisure destination, attracting affluent international tourists and yacht enthusiasts. This development is expected to boost Colombo Port City’s appeal, stimulate economic growth, and create numerous employment opportunities, while also bolstering the real estate and hospitality industries.

Adding to its charm, yachts from the Marina will anchor at Port City Colombo’s artificial beach, where visitors can enjoy sea bathing, paddleboarding, and other water activities in the Indian Ocean.

Redefining Colombo as a Global Hub

Port City Colombo, the Marina’s location, represents one of Sri Lanka’s most ambitious urban projects. Spread across 269 hectares of reclaimed land, this futuristic financial and business hub is adjacent to Colombo’s central business district. Initially launched with a $1.4 billion investment for land reclamation, the project is projected to attract over $15 billion in total investments.

 With special economic zones and tax incentives in place, Port City Colombo is poised to enhance Sri Lanka’s global profile in finance, trade, and tourism. The Marina, alongside broader infrastructure developments, will position Colombo as a beacon of luxury, innovation, and economic opportunity.

British High Commissioner to Sri Lanka Andrew Patrick recently hosted Venerable Wadigala Samitharathana Thero, the first Sri Lankan Buddhist monk to study at the University of Oxford in over 105 years.

Sharing the news on social media platform ‘X,’ the High Commissioner remarked on Ven. Samitharathana Thero’s inspiring journey, emphasizing the transformative power of education and the deep-rooted ties between England and Sri Lanka.

In December 2024, St Cross College at Oxford welcomed Ven. Samitharathana Thero as a Glorisun Scholar, where he is pursuing an MPhil in Buddhist Studies. His admission marks a historic milestone for both Sri Lanka and the prestigious university.

The last Sri Lankan Buddhist monk to attend Oxford was Ven. Suriyagoda Sumangala, who enrolled in 1919 as a non-collegiate student and later pursued a BLitt at Harris Manchester College.

St Cross College, a constituent college of the University of Oxford, is renowned for its diverse academic community and dedication to interdisciplinary studies.

The government has announced plans to initiate the purchasing of paddy from the third week of January.

Paddy Marketing Board (PMB) Chairman Manjula Pinnalanda stated that approximately 300,000 metric tonnes of paddy will be procured as part of this initiative. He assured that the PMB has adequate funds for this purpose, with allocations to be finalized shortly.

The Chairman further clarified that the paddy purchased will be stored as part of the government’s reserves. These reserves will be utilized to supply rice to the market only in the event of a shortage, ensuring stability in supply and prices.

Attending the event, Minister Herath praised the recent advancements in service delivery for Sri Lankans abroad, crediting the dedicated efforts of the officials at the Presidential Secretariat, led by Senior Additional Secretary Roshan Gamage, and the Registrar General’s Department over the past two months.

“This opportunity for Sri Lankans abroad is the result of the dedicated efforts of these officials,” he stated, adding, “Even though this could have been implemented earlier, it required the necessary leadership to bring it to fruition. With the new political leadership, officials were able to realize this initiative within two months.”

Minister Herath highlighted that this achievement is the first successful initiative under the President’s digitalisation concept, describing it as a significant service to both the country and its economy. He elaborated, “For a fee of around $22, Sri Lankans abroad can now obtain essential documents from any country. We believe this initiative can be further developed to encompass all services.”

Addressing current challenges in passport services, Minister Herath acknowledged issues caused by prior decisions. “We recognize the ongoing difficulties faced by people regarding passport issuance. To address this, we have decided to initiate a tender for new passport printing. This will enable us to quickly procure the necessary passport quantities and incorporate the same technology for both renewals and new passport applications,” he explained.

The event was attended by Deputy Minister of Foreign Affairs and Foreign Employment Arun Hemachandra, Secretary to the Foreign Affairs, Foreign Employment, and Tourism Ministry Aruni Ranaraja, Registrar General W.R.N.S. Wijesinghe, Senior Additional Secretary (Administration and Diplomatic Affairs) G.G.S.C. Roshan, and other high-ranking officials from the relevant ministries.