March 23, Colombo (LNW): The National People’s Power (NPP) has announced plans to introduce a bill in Parliament aimed at recovering state assets that were unlawfully obtained under past administrations.

The proposed legislation will be formally presented to Parliament on April 08, according to MP Chandana Suriyarachchi.

The bill is designed to facilitate the legal confiscation of wealth, including funds and properties, accumulated through the misuse of state resources.

It seeks to hold individuals accountable for exploiting public assets for personal enrichment, particularly those with political ties to previous governments.

Speaking on the initiative, MP Suriyarachchi stated that the misuse of public resources had been a persistent issue in the country, with influential figures—including political leaders, their associates, and relatives—allegedly converting state-owned properties and funds into private assets.

The proposed law aims to introduce legal mechanisms that will enable the state to recover such wealth and return it to public ownership.

The NPP maintains that the legislation is a crucial step in addressing long-standing public grievances regarding corruption and the mismanagement of national assets.

Emphasising the party’s commitment to accountability, Suriyarachchi stressed that the initiative was not about political showmanship but about delivering justice to the people.

The proposed bill is expected to spark significant debate, particularly as it challenges individuals who have benefited from previous political regimes. However, the NPP asserts that such measures are necessary to restore public trust and ensure that national resources are utilised for the benefit of the country rather than private gain.

March 23, Colombo (LNW): The Government Medical Officers’ Association (GMOA) has expressed strong approval of the 2025 Budget, highlighting its provisions as a constructive step towards resolving concerns over payments for doctors’ additional responsibilities.

Speaking at a briefing yesterday (22), GMOA Media Spokesperson Dr Chamil Wijesinghe stated that the budgetary measures had addressed a pressing issue that had caused widespread anxiety within the healthcare sector.

In recent weeks, speculation had grown over the possibility of cuts to allowances for medical professionals, fuelling discontent and prompting industrial action from several health trade unions.

The uncertainty over financial incentives for extended duties led to mounting pressure on authorities to provide a clear stance. Medical professionals had been demanding assurances that their additional workload would be fairly compensated, with some groups resorting to strikes as negotiations continued.

The GMOA, which played a key role in these discussions, now views the government’s response as a promising resolution that acknowledges the crucial contributions of healthcare workers.

Whilst the specifics of the budgetary adjustments remain under scrutiny, the GMOA has conveyed cautious optimism that the proposed measures will help maintain stability in the sector.

March 23, Colombo (LNW): Showers or thundershowers will occur at several places in Western and Sabaragamuwa provinces and in Galle and Matara districts after 2.00 p.m.

Misty conditions can be expected at some places in Western, Sabaragamuwa, Central and Uva provinces and in Galle and Matara districts during the morning.

The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

The Asian Development Bank will help Sri Lanka sell ‘thematic’ debt securities, taking one step beyond the initial green bonds that have already been sold by some, Takeo Konishi, Director General, South Asia Department, Asian Development Bank said.

Thematic bonds, sustainability linked bonds, can be sold by governments and private companies.“A robust sustainable financing ecosystem with internationally accepted regulation and governance structure, Sri Lanka would be able to attract global investors, including social impact investors,” Konishi told a forum on green bonds in Colombo.

“These investors would look for innovative financing structures like thematic and green bonds, with projects identified to strengthen economic resilience in the country, which would create employment and empower youth and women.

“The overarching objective of ADB is to focus on economic growth, job creation, technological innovation, and private sector development.”The ADB supported the Securities and Exchange Commission of Sri Lanka in the implementation of green bond regulations, he said.

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has placed Sri Lanka-based Marine Solution Pvt Ltd on its Specially Designated Nationals (SDN) list. This designation restricts US individuals and entities from engaging in any transactions with the company, the US Embassy in Sri Lanka announced.

Marine Solution Pvt Ltd has been identified as the registered owner and technical manager of the Barbados-flagged vessel SHANNON II (IMO: 9237797), which has been involved in the transportation of Iranian oil. This action is in alignment with OFAC’s broader strategy to curb illicit financial and trade activities associated with Iran.

The SDN list is a comprehensive public record that includes individuals, businesses, and entities sanctioned for involvement in activities such as terrorism, narcotics trafficking, and violations of international sanctions. As part of its Iran-related sanctions, OFAC continuously updates the SDN list to include entities and vessels linked to activities that undermine global security.

Benefits of This Action

This latest addition to the SDN list reinforces US efforts to prevent unauthorized financial transactions and trade that may fund destabilizing activities. Key benefits include:

Strengthening Global Security: By restricting entities involved in Iranian oil shipments, the sanctions help prevent funds from reaching organizations that may support terrorism or nuclear proliferation.

Deterring Sanctions Evasion: The designation sends a strong message to companies worldwide that involvement in sanctioned trade will lead to significant financial and operational consequences.

Protecting Legitimate Trade Networks: Blocking illicit actors helps ensure that global commerce remains free from unlawful financial activities that could distort market fairness.

Supporting International Policy Goals: This move aligns with broader US foreign policy objectives, particularly efforts to curb Iran’s nuclear ambitions, missile program, and its financial support for militant proxy groups.

By taking decisive action against entities like Marine Solution Pvt Ltd, the US reinforces its commitment to maintaining economic integrity and security on an international scale.

A workshop organized under the UK Trade Partnerships (UKTP) Programme has set the stage for aligning Sri Lanka’s organic regulations with Britain’s organic standards, a move expected to enhance the country’s competitiveness in the global organic market.

The event, jointly hosted by the International Trade Centre (ITC) and the Sri Lanka Export Development Board (EDB), brought together regulators, industry experts, and organic farmers to discuss crucial regulatory updates.

“This initiative is a significant step towards gaining recognition from the UK’s Department for Environment, Food & Rural Affairs (DEFRA), helping Sri Lanka strengthen its position in the international organic market while reducing certification costs. It will also encourage more farmers and processors to adopt organic practices,” the EDB stated.

Under the UKTP Programme, Sri Lanka has been identified as a key beneficiary in the organic sector. The initiative aims to leverage Economic Partnership Agreements (EPAs) and the UK’s Developing Countries Trading Scheme (DCTS) to expand trade opportunities between Sri Lanka, the UK, and the EU.

Previous collaborations between ITC and EDB have already led to amendments in Sri Lanka’s Organic Regulation (Gazette) to align with Great Britain’s standards, a crucial step toward achieving mutual recognition with other international organic certification systems, including the EU’s.

The workshop facilitated in-depth discussions on essential regulatory changes, organic certification, labeling requirements, import regulations, and control mechanisms needed to strengthen Sri Lanka’s organic sector.

With global demand for organic products rising, the event provided valuable insights into upcoming regulatory changes and reinforced collaboration between the public and private sectors. This partnership aims to establish a sustainable and internationally recognized organic agriculture framework in Sri Lanka.

Sri Lanka and Viet Nam are working to enhance trade relations by focusing on improved shipping and logistics connectivity. Recognizing the importance of streamlined trade processes, industry leaders and policymakers from both nations recently engaged in discussions to explore new opportunities for collaboration in these sectors. Strengthening maritime links is seen as a key step toward maximizing economic benefits and fostering long-term partnerships.

As part of these efforts, the Sri Lanka Export Development Board (EDB) hosted a webinar aimed at promoting Sri Lanka’s logistics capabilities in the Vietnamese market. The discussions centered on increasing trade efficiency, integrating supply chains, and making strategic investments to drive growth.

The EDB emphasized the need for stronger maritime connectivity and closer cooperation to unlock the full trade potential between the two countries. EDB Chairman Mangala Wijesinghe highlighted the importance of reinforcing partnerships in logistics and shipping to optimize supply chain networks. Sri Lanka’s Ambassador to Viet Nam, Poshitha Perera, also underscored the potential for significant growth through enhanced infrastructure and connectivity.

Industry experts from both countries provided insights into key aspects such as port development, investment prospects, regulatory frameworks, and best operational practices. The webinar featured presentations from Deputy Director of BOI Sudath Jayasekara, Head of Commercial at Hayleys Advantis Free Zone Ltd Rajiv Fernando, GAC Group of Companies Director – NVOCC & Logistics Navin Perera, and Viet Nam Logistics Business Association (VLA) Head of Logistics Services Department Pham Thi Lan Huong.

These discussions covered critical topics related to logistics development, supply chain efficiency, and investment opportunities, laying the groundwork for future business collaborations. The event attracted strong participation from members of the Viet Nam Logistics Business Association, with over 40 industry professionals in attendance, signaling growing interest in strengthening trade ties through a more connected and efficient logistics sector.

Women entrepreneurs in Sri Lanka’s agricultural sector are gaining new opportunities to expand their businesses globally, thanks to a strategic partnership between Germany and Sri Lanka. With international trade becoming increasingly competitive, equipping women-led enterprises with the right skills, market knowledge, and industry connections is crucial for sustainable growth.

Recognizing this need, the German Import Promotion Desk (IPD), in collaboration with the Sri Lanka Export Development Board (EDB), has launched the second phase of the EDB-IPD Women-Led Exports capacity-building programme. This initiative focuses on enhancing the export potential of 20 women-led agribusinesses by providing specialized training, technical expertise, and exposure to international markets.

IPD Germany’s Angie Martinez emphasized that establishing global trade links is essential but must be supported by ongoing capacity development. “This programme is not just about preparing women entrepreneurs for exports but ensuring their sustainability in global trade,” she said, stressing the importance of continuous mentorship for long-term success.

Since its launch in December 2023, the programme has strengthened the capabilities of women entrepreneurs in the agri-food sector, helping them meet international standards and establish trade connections with European markets, according to the EDB.

German Ambassador Felix Neumann reaffirmed Germany’s commitment to empowering women economically and fostering sustainable trade relationships. Meanwhile, EDB Chairman and CEO Mangala Wijesinghe underscored the importance of structured export support, continuous mentorship, and market access in ensuring that women-led businesses thrive internationally.

Wijesinghe outlined export targets for the next five years and encouraged participants to leverage these opportunities. He assured that the EDB would continue providing long-term business development support, access to international buyers, and ongoing mentorship to ensure the programme’s success.

By equipping women entrepreneurs with the necessary tools and global exposure, the initiative aims to create lasting economic opportunities and strengthen Sri Lanka’s position in international trade.