July 30, Colombo (LNW): The Sri Lanka Podujana Peramuna (SLPP) has announced that it will not endorse President Ranil Wickremesinghe in the upcoming Presidential Election, according to SLPP MP Sagara Kariyawasam. Instead, the party’s Politburo has decided to field its own candidate.

Kariyawasam mentioned that the party is currently evaluating potential candidates and will announce their official nominee shortly. The individual with the highest chances of winning will be selected as the SLPP candidate.

Additionally, the SLPP Politburo has resolved to take strict disciplinary measures against any member who decides to run for the presidency without the party’s approval. When questioned about the timing of their nomination, Kariyawasam stated that they would reveal their “winning candidate” at the most strategic moment.

He also noted that, after considerable debate, the majority supported the decision to field a candidate under the party’s flower bud symbol.

Meanwhile, President Ranil Wickremesinghe has officially submitted his election deposit and will contest the 2024 Presidential Election as an independent candidate. The election is scheduled for 21 September, with nominations opening on 15 August 2024.

July 29, Colombo (LNW): On Friday (26), Japan’s Ambassador to Sri Lanka, Mizukoshi Hideaki, held a reception to bid farewell to 15 new recipients of the Japanese Grant Aid for Human Resources Development Scholarship (JDS).

The Ambassador congratulated the scholars who are set to travel to Japan next month to pursue their studies.

Foreign Affairs Minister Ali Sabry also attended the event, having signed the Exchange of Notes for this JDS Programme during his recent visit to Japan.

The JDS Programme is designed to enhance the skills and knowledge of promising public sector officials through two-year Master’s courses at Japanese universities.

The programme covers fields such as Public Policy, Macroeconomics, Public Finance, Investment Management, Industry Development, and Urban Planning.

Since its inception in 2010, the JDS Programme has supported 222 Sri Lankan public sector officials, contributing to both individual and institutional development within Sri Lanka.

The scholars are expected to strengthen bilateral ties with Japan, acting as cultural and professional ambassadors.

Ambassador Mizukoshi expressed his hope that the new scholars will play crucial roles in advancing Sri Lanka’s economic growth and development, following the Sri Lankan Government’s recent debt management and reform initiatives.

He encouraged them to engage actively with Japan and its people, fostering long-term, fruitful relations between the two nations.

By: Staff Writer

July 29, Colombo (LNW): The Sri Lanka National Film Corporation (NFC) has appointed  an expert committee to address longstanding inefficiencies and malpractices since its inception in 1971.

Criticism from film industry stakeholders has mounted, accusing the NFC of impeding local cinema growth and demanding its relegation to a regulatory role, removing its functions as a film distributor and cinema hall owner.

Stakeholders argue that bureaucratic mismanagement by the NFC has stifled the industry for over three decades, advocating for the complete liberalization of film distribution and importation, and urging cinemas to operate without undue influence.

Stakeholders stress the importance of allowing exhibitors to run their businesses based on market demands and capacity utilization.

They propose restructuring the NFC to better support private sector exhibitors, producers, importers, and distributors.

The NFC has faced numerous challenges, including the insurrections of 1971 and 1987-1989, a three-decade-long civil war, and the Easter Sunday bombings.

However, stakeholders claim the NFC’s monopoly over film distribution and importation is the primary cause of the industry’s decline, preventing cinemas from accessing quality content and diminishing the country’s film-going culture.

Deepal Chandraratne, Chairman of the NFC, announced that the newly appointed committee includes representatives from all segments of the cinema sector.

The committee’s task is to develop recommendations to replace the existing distribution process, currently controlled by four boards, with a more open system that encourages growth and innovation in the industry.

These findings will be submitted to the Cabinet, potentially leading to policy changes and regulatory reforms.

The Cabinet has also approved amendments to the National Film Corporation of Sri Lanka Act, which has remained unchanged since 1972, aiming to align the legislation with contemporary industry standards and address stakeholder concerns.

In 2001, partial liberalization allowed four private circuits—Lanka Film Distributors Ltd. (LFD), E.A.P. Films and Theatres Ltd. (EAP),

Movie Producers and Importers Ltd. (MPI), and Cinema Entertainment Ltd. (CEL)—to enter the market alongside the NFC. This move revitalized film importation and increased investments and revenue in the industry. Despite these changes, a 2019 gazette notification re-established the NFC’s control over film distribution tasks, leading to reluctance among major foreign studios to engage with the Sri Lankan market due to the NFC’s monopoly and inability to import high-quality films.

Film hall owners are currently struggling, and stakeholders suggest that the state should encourage alternative profit-making uses for these properties.

They argue that the private sector is not responsible for the closure of cinemas and that the NFC should be held accountable for failing to recover loans granted for renovations.

Industry stakeholders have urged the Committee on Public Enterprises (COPE) to recommend transforming the NFC into the sole regulator of the film industry, enhancing efficiency among its 185 staff members.

By: Staff Writer

July 29, Colombo (LNW): The State-Owned Enterprise Restructuring Unit (SOERU) recently clarified misunderstandings about the divestiture of Hotel Developers Lanka (HDL) Ltd and Sri Lanka Telecom PLC (SLT).

The land associated with the HDL transaction is 4.61 acres, contrary to the claims of seven acres. This land is leased to HDL until 2111.

An additional 1.875 acres will be leased to HDL until 2111 for Rs.4.4 billion, pending Cabinet approval. This land includes restaurants, a swimming pool, a gym, and parking facilities.

The decision to allocate this land was made by the Cabinet of Ministers on March 21, 2022. Despite recent upgrades, the Colombo Hilton remains a five-star property, not a seven-star.

The government chief valuer confirmed that the November 19, 2022, valuation of HDL was lower than the July 2024 valuation.

A financial offer for HDL has been received from Melwa Hotels & Resorts (Pvt.) Ltd, the only entity to submit an offer in July. Negotiations are ongoing, and the final price is yet to be determined.

The SOERU emphasized the transparency and integrity of the divestiture process, denying any political interference. They stated that no politician or public officer has attempted to influence the divestiture of HDL or any other state-owned enterprise.

Valuations for SLT are ongoing and have not been finalized. The divestiture process adheres to Divestiture Guidelines approved by the Cabinet.

The SOERU denied allegations of manipulating SLT’s financial results to reduce its value. As a listed entity, SLT must comply with the continuous listing rules of the Colombo Stock Exchange, which require a board audit committee chaired by a director who is not the company’s chairperson. This committee ensures the integrity of the company’s financial statements.

A major foreign investor with a 45% stake in SLT, who also has significant board presence, is unlikely to agree to manipulate SLT’s value downwards.

The SOERU, in collaboration with the Telecommunications Regulatory Commission of Sri Lanka, resolved a long-standing spectrum issue that was affecting SLT’s performance. The new spectrum allocation is expected to significantly increase SLT’s value.

The SOERU has not been contacted by any organization or individual to clarify concerns. They highlighted their efforts to communicate with senior members and leaders of three major political parties about the SOE reform program. The SOERU has consistently released press statements at every significant stage of the divestiture process to keep the public informed.

The SOERU’s statements aim to dispel any misconceptions and reassure the public about the transparent and fair nature of the divestiture processes for HDL and SLT.

1. President Ranil Wickremesinghe assures the matter concerning the appointment of the Inspector General of Police (IGP) will be settled within a week through discussions with the Speaker and the Chief Justice: confirms the presidential election on 21 September will proceed without delay, highlighting the fundamental role of elections in upholding people’s sovereignty.
   
2. Sri Lanka Muslim Congress’ (SLMC) National Organiser, MP M.S. Thowfeek says his party will support Opposition Leader Sajith Premadasa in the upcoming presidential election: adds a final decision on which candidate should his party extend support to has not yet been reached by the SLMC’s supreme council, but expresses confidence that the ongoing discussions may end up in supporting Premadasa.
   
3. Minister Wijeyadasa Rajapakshe resigns from his positions overseeing Justice, Prison Affairs, and Constitutional Reforms to focus on his presidential candidacy for Sri Lanka’s 2024 election: announces his resignation on 29 July, citing the need to dedicate his efforts to his campaign and discussed the implications of multiple Cabinet members running for the presidency: expresses confidence in the National Election Commission and support from the Sri Lanka Freedom Party (SLFP).
   
4. The Committee on Public Accounts (CoPA) identifies major issues with the Department of Buildings, which employs 79 engineers but has underperformed despite an annual salary cost of Rs. 260 mn: State Minister Lasantha Alagiyawanna, who chaired the meeting, warns that if performance does not improve, the department could face closure: It is currently the lowest-performing state institution.
   
5. Finance State Minister Ranjith Siyambalapitiya says the Election Commission requests approximately Rs. 8 bn from the Treasury for the upcoming Presidential Polls: assures additional funds would be allocated if costs exceed this budget: The previous election budget was Rs. 10 bn, with careful financial management to ensure readiness for urgent needs like printing and security: The Treasury is prepared to cover any additional expenses.
   
6. Finance State Minister Shehan Semasinghe announces vehicle import permissions will begin in August, starting with approvals for business and transportation vehicles: Whilst many import restrictions have been lifted previously, vehicle imports remained limited: The phased removal of these restrictions will start in August, with private vehicle import permissions expected in early 2025.
   
7. The Centre for Policy Alternatives (CPA) raises concerns about the Government’s response to the Supreme Court’s interim order, which bars Deshabandu Thennakoon from serving as Inspector General of Police (IGP): fears this reaction could lead to a constitutional crisis and urges the President to uphold constitutional principles and election integrity, especially with the Presidential Election on 21 September 2024.
   
8. Sri Lanka’s Election Commission announces that applications for postal voting must be submitted to District Returning Officers no later than 5 August.
   
9. In preparation for the presidential election, Election Operation Rooms will be established at all police stations and divisional police areas to handle complaints of election violence and law violations: These rooms, overseen by divisional police officers and senior DIGs, will work under the coordination of SDIG Asanga Karavita and other senior officers: Despite the lack of an IGP, the Election Commission can issue police directives.
   
10. Sri Lanka win their first Women’s Asia Cup title on Sunday, defeating India in the final with a strong run-chase: This was only the second time India failed to win the cup in nine finals, with their previous loss in 2018 to Bangladesh: Chamari Athapaththu was named Player of the Tournament, while Samarawickrama was the Player of the Match: President Ranil Wickremesinghe congratulated Athapaththu in an emotional call.