Home Blog Page 535

New Government Champions Meritocracy to Reform Banking Sector

0

By: Staff Writer

December 16, Colombo (LNW): The newly formed government has prioritized financial stability and sustainability in Sri Lanka’s banking and finance sector by appointing highly qualified professionals as chairpersons and board directors of state-owned banks.

These appointments, based solely on merit, aim to provide competent leadership to effectively navigate the sector’s challenges and opportunities, according to a senior official.

Notable recent appointments include professional bankers such as Kavinda De Zoysa as Bank of Ceylon Chairman, Prof. P.N.D. Fernando as People’s Bank Chairman, P.J. Jayasinghe as HDFC Bank Chairman, and Lasantha Fernando as RDB Chairman.

These changes reflect the government’s focus on reshaping the sector under the visionary leadership of President Anura Kumara Dissanayake (AKD), said Dilshan Chamikara, Private Secretary to the Finance, Planning, and Economic Development Minister.

Chamikara emphasized that the reforms are built on principles of meritocracy and professionalism to achieve sustainable development.

Meritocracy, a cornerstone of the government’s vision, ensures that individuals are recognized and advanced based on their skills, achievements, and contributions rather than privilege or connections.

Decades of inefficiency and political interference have previously hampered the performance of key institutions, Chamikara stated, undermining their capacity to drive national growth.

In response, the government is empowering these institutions with leaders who demonstrate expertise, integrity, and vision.

Integrity, he added, is fundamental to building trust and credibility within governance. Alongside this, the government’s zero-tolerance stance on corruption and the misuse of public funds underpins the reforms.

Transparency and accountability are prioritized to ensure that public funds allocated to financial institutions deliver maximum value to the people.

To enhance governance and improve institutional efficiency, the government is introducing Key Performance Indicators (KPIs) along with detailed action plans featuring measurable goals and milestones.

These efforts are supported by robust monitoring and reporting frameworks to restore public confidence in the financial sector.

While acknowledging the dedication and talent of employees within these institutions, Chamikara noted that a lack of visionary leadership in the past had hindered their full potential. The reforms, therefore, aim to empower employees, enabling them to thrive and contribute more effectively to institutional progress.

 The government also invites banking and finance professionals to actively participate in this mission, fostering a financial ecosystem that promotes sustainable growth and uplifts the nation.

SL’s Olympic Committee suspended by International and Asian Olympic bodies over unresolved allegations

0

December 15, Colombo (LNW): The Sri Lanka National Olympic Committee (NOCSL) has been suspended by both the International Olympic Committee (IOC) and the Olympic Council of Asia (OCA) following its failure to implement recommendations from the Ethics Committee regarding accusations against certain members.

This suspension, which affects the NOCSL’s access to critical funding, was confirmed in a joint statement released on December 10, signed by James MacLeod on behalf of the IOC and Hussein Al Musallam representing the OCA.

The core issue behind the suspension stems from the NOCSL’s lack of action in addressing the findings of the Ethics Committee, which had recommended the removal of several officials implicated in unethical practices.

Rather than acting on these recommendations, the executive committee has instead moved towards holding elections aimed at re-electing many of the same individuals accused of misconduct, as they continue to hold a majority in the current composition of the committee.

The joint statement issued by the IOC and OCA highlighted the significant damage to the credibility and reputation of the Sri Lanka Olympic Committee. It also stated that funds allocated to the NOCSL would remain suspended until further notice.

However, the statement did not specify if or when these payments would be reinstated, instead emphasising that the suspension would remain in place until serious ethical concerns surrounding the process were resolved.

Despite numerous ongoing discussions between the IOC, OCA, and the NOCSL over the years, no substantial progress has been made. The international bodies pointed out that the NOCSL has failed to implement any of the measures suggested by its own Ethics Committee, and individuals suspected of corruption or fraud have not lost their official positions, including the highly influential Secretary of the NOCSL, who remains accused of misconduct.

This situation has drawn widespread criticism, not only within Sri Lanka’s media but also from international sports publications. The international bodies have expressed disappointment that local authorities, including the Sports Minister, Deputy Minister, and the Director General of the Sports Development Department, have seemingly overlooked or failed to act upon the allegations.

In response to the actions of the NOCSL, the IOC and OCA have made it clear that merely conducting elections under the current circumstances, without addressing the serious allegations, is insufficient.

The election process is being viewed as an attempt to legitimise the status quo, rather than address the ethical issues that have plagued the NOCSL.

The ongoing situation raises serious concerns about Sri Lanka’s future participation in the international sporting community. Whilst the NOCSL may attempt to proceed with elections as a way to bypass the crisis, it is uncertain whether the international bodies will recognise such an election unless it is accompanied by a thorough investigation into the allegations raised in the Ethics Committee’s report.

As the crisis deepens, the international community continues to stress that any efforts to resolve the situation must begin with a transparent and fair investigation, followed by the removal of individuals found guilty of misconduct.

Only then can the NOCSL hope to restore its credibility and re-establish its position within the global sporting arena.

The suspension serves as a stark warning about the potential consequences of failing to address corruption within national sports bodies, with the looming threat of Sri Lanka’s membership in the Olympic movement being put at risk.

The path forward is clear: to protect the integrity of sports in Sri Lanka, the necessary reforms must be made before any election can be deemed valid in the eyes of the international community.

*Adapted from original article, “නිලවරණ ගැලවිජ්ජාව හෙවත් වසුරු අයිසින් කර, කේක් ලෙස මවා පෙන්නීම” by Nishman Ranasinghe published on 15.12.2024.

President AKD holds talks with Indian PM during state visit

0

December 16, Colombo (LNW): During his official state visit to India, President Anura Kumara Dissanayake had an important meeting today with Indian Prime Minister Narendra Modi.

The meeting, which took place at the prestigious Hyderabad House, was warmly welcomed by PM Modi, who expressed India’s readiness to engage in detailed discussions with the Sri Lankan leader.

As part of the extensive talks, President Dissanayake and PM Modi are expected to focus on a broad range of key issues that will shape the future of bilateral relations between the two nations.

Among the topics to be discussed are the enhancement of trade ties, increased investment opportunities, development cooperation, and strengthening security collaboration.

The meeting reflects the growing partnership between Sri Lanka and India, with both leaders recognising the importance of fostering closer economic and strategic ties in the face of regional challenges.

Owner of Galle Marvels Team further remanded over match-fixing allegations

0

December 16, Colombo (LNW): Prem Thakkar, owner of the Galle Marvels team in the Lanka T10 Super League, has been further remanded following his arrest in connection with alleged match-fixing activities.

The Colombo Chief Magistrate’s Court today ordered that Thakkar, an Indian national, remain in custody until December 18, 2024.

Thakkar, who was apprehended by Sri Lanka’s Sports Police Unit on December 12, faces accusations related to an alleged attempt to fix matches in the ongoing Lanka T10 Super League.

His arrest followed a complaint lodged by a foreign player, who claimed to have been approached with an offer that raised suspicions of match-fixing.

Veteran Poet Dr. Rathna Sri Wijesinghe appointed Chairman of NLDSB

0

December 16, Colombo (LNW): Renowned poet and literary figure, Dr. Rathna Sri Wijesinghe, took office as the new Chairman of the National Library and Documentation Services Board today (16).

Dr. Wijesinghe, who is celebrated for his contributions to Sinhala literature, particularly in poetry, has assumed the role as the 20th Chairman of the Board.

With a long and illustrious career as a poet, author, and lyricist, Dr. Wijesinghe brings a wealth of experience to his new position. His literary works have earned him widespread acclaim, making him a key figure in Sri Lanka’s cultural and literary communities.

On the same day, the newly appointed Board of Directors also took charge, with a distinguished group of writers and officials present for the occasion. Among those attending the ceremony were veteran writer Keerthi Welisarage, renowned literary figure Kamal Perera, and W. Sunil, the Director General of the National Library and Documentation Services Board.

Justice Minister files complaint over misleading education qualification data in Parliament records

0

By: Isuru Parakrama

December 16, Colombo (LNW): Justice Minister Harshana Nanayakkara has officially lodged a complaint with the Criminal Investigations Department (CID), urging an inquiry into the inaccurate information regarding his educational qualifications listed in the official Parliament database.

This comes after the Sri Lankan Parliament acknowledged last week that there were discrepancies in the details pertaining to Minister Nanayakkara’s educational background on its website.

The error, which was found in the directory of Members of Parliament, erroneously included the title “Dr.” before Nanayakkara’s name.

Jayalath Perera, the Director of Legislative Services, clarified that the mistake occurred due to an error in data entry.

This situation has raised concerns about the accuracy of the information published on the Parliament’s official platform.

Minister Nanayakkara, addressing the media, expressed his concern that this incident may not be an isolated case, particularly in light of the recent controversies surrounding the educational qualifications of certain government MPs.

He stressed the importance of investigating how such errors had occurred and who was responsible for entering misleading data into the system.

In addition to calling for a thorough investigation into the matter, Nanayakkara announced that legal action would be pursued to address the harm caused to his reputation by misleading media reports that followed the revelation.

He made it clear that he intended to file a civil suit over the damage inflicted by these inaccurate reports.

Minister Nanayakkara also took the opportunity to reflect on a broader shift in public discourse. He expressed satisfaction that the public was beginning to ask more pertinent questions about the qualifications and conduct of MPs, a significant change compared to earlier times when discussions were often centred on issues such as the alleged sale of ethanol or drugs, or concerns over the appointment of convicted individuals to Parliament.

He commended the public for now questioning the educational credentials of MPs, claiming that this newfound scrutiny marked a significant shift, one that he considered a victory for the government and a positive development in Sri Lanka’s politics.

Egg prices to drop for festive season: Retail prices between Rs. 30-35

0

By: Isuru Parakrama

December 16, Colombo (LNW): In a welcome announcement for consumers ahead of the upcoming festive season, the All Ceylon Egg Producers Association has confirmed that eggs will be available at retail prices ranging from Rs. 30 to Rs. 35.

This marks a significant reduction from the price levels observed in previous years, providing relief to households during a time of increased demand.

Chairman Anton Appuhamy has urged all retail outlets to adhere to the new pricing guidelines and ensure that eggs are sold at prices not exceeding Rs. 35.

He further explained that, while eggs were priced as high as Rs. 65 to Rs. 70 during the 2023 festive season, the situation has improved this year.

With a noticeable increase in egg production, the market has stabilised, resulting in lower prices for consumers.

Appuhamy highlighted that egg farmers across the country are currently holding surplus stock, which has contributed to the reduction in prices.

He clarified that a standard 50-gram egg should cost between Rs. 30 and Rs. 32, while eggs weighing over 55 grams will be priced between Rs. 33 and Rs. 35.

Parliament to appoint new Speaker tomorrow (Dec 17)

0

December 16, Colombo (LNW): Sri Lanka’s Parliament is set to appoint a new Speaker tomorrow (17).

This follows the position being vacant due to the resignation of its former bearer MP Asoka Ranwala.

The parliamentary sessions scheduled for December 17 and 18 will see the submission of nominations for the role on the first day, with the final decision expected to follow shortly thereafter.

Three names have been put forward by the ruling party for consideration. These include the current Deputy Speaker, Dr. Rizvie Salih, MP Lakshman Nipuna Arachchi, and MP Nihal Galappaththi.

A meeting of the ruling party’s parliamentary group is expected to take place today (16), where a final decision will be made regarding the nomination of a new Speaker.

The opposition has also indicated that it will put forward a candidate of its own for the Speaker’s position, although some members have voiced concerns over the appropriateness of nominating an opposition-aligned MP.

Ranwala, the former Speaker of the Tenth Parliament, officially resigned from his post on December 13, citing controversy surrounding his educational qualifications. The resignation has created a historical precedent, as it is the first time in Sri Lanka’s parliamentary history that a Speaker has stepped down from the position.

Public consultation on proposed electricity tariff revision to commence tomorrow (Dec 17)

0

December 16, Colombo (LNW): The Public Utilities Commission of Sri Lanka (PUCSL) is set to launch a public consultation process tomorrow (17) to gather feedback on the proposed revisions to electricity tariffs.

This consultation will allow members of the public to submit their views and opinions on the matter, which can be done either virtually or in writing. The deadline for submitting feedback is 8 January 2024.

Those wishing to contribute their thoughts can do so through several channels, including email at [email protected], WhatsApp at 076 4271030, or via Facebook at www.facebook.com/pucsl.

Alternatively, written submissions can be sent by post to the Public Utilities Commission of Sri Lanka, BOC Corporate Tower, Colombo 03, with the subject line “Public Consultation on Electricity Tariff.”

The final decision on the proposed tariff changes will be made public on 17 January 2025.

Earlier this month, on 6 December, the Ceylon Electricity Board (CEB) submitted its tariff revision proposal to the PUCSL. The proposal suggested that the current electricity tariffs remain unchanged for the first six months of 2025.

The CEB’s proposal follows a shift in government policy regarding tariff revisions. While the previous administration had proposed quarterly adjustments, the current government has opted to revise tariffs only twice a year.

In 2023, there were three tariff revisions, while two adjustments have been made this year.

The proposed tariff revision is expected to be implemented by the third week of January 2025, affecting electricity pricing for the first half of the year.

India’s External Affairs Minister highlights Sri Lanka’s importance in strengthening bilateral ties

0

By: Isuru Parakrama

December 16, Colombo (LNW): India’s External Affairs Minister Dr. S. Jaishankar, has emphasised Sri Lanka’s significant role in India’s “Neighborhood First” policy and the SAGAR (Security and Growth for All in the Region) framework, following his meeting with Sri Lankan President Anura Kumara Dissanayake on Sunday (15).

During the meeting, which took place as part of President Dissanayake’s ongoing state visit to India, Jaishankar expressed his confidence that the President’s discussions with Indian Prime Minister Narendra Modi, scheduled for today, would foster deeper trust and enhanced cooperation between the two nations.

Sharing his thoughts on the meeting, Jaishankar posted on X, stating, “Pleased to call on President Anura Kumara Dissanayake at the start of his first state visit to India. Sri Lanka is key to both India’s Neighborhood First policy and the SAGAR Outlook. Confident that the talks with PM Narendra Modi tomorrow will lead to greater trust and deeper cooperation.”