By: Staff Writer

April 25, Colombo (LNW): Iran and Sri Lanka on Wednesday (24) signed five Memorandums of Understanding (MoUs), aimed at bolstering bilateral relations between the two countries.

Signed in the presence of President Ranil Wickremesinghe and President Dr. Ebrahim Raisi, the five agreements will cover cooperation between the two countries in the fields of film, media, tourism, cooperatives, libraries, and cultural, scientific, technical, and sports:

The Iranian leader is in Sri Lanka for a one-day official visit during which he participated in a public ceremony to declare open the Uma Oya Multipurpose Development Project (UOMDP). He later travelled to Colombo where he had one-on-one bilateral talks with his Sri Lankan counterpart.

Dr. Raisi was ceremonially welcomed by President Wickremesinghe along with a guard of honour and other pageantry at Galle Face Green.

The Uma Oya Multipurpose Development Project (UOMDP) stands as a flagship initiative of national significance in Sri Lanka. Its primary aim is to divert around 145 million cubic meters (MCM) of excess water annually from the Uma Oya basin to the Kirindi Oya basin, addressing the issue of water scarcity in the south-eastern dry zone without adverse effects on the environment or water sources.

This initiative will facilitate irrigation for around 4,500 hectares of new land and 1,500 hectares of existing agricultural land in the Monaragala district. Additionally, it will fulfill the drinking and industrial water requirements of Badulla, Monaragala, and Hambantota areas, providing approximately 39 million cubic meters (MCM) of water annually.

Furthermore, the project will contribute to the national electricity supply by generating 290 GWh of electrical capacity each year.

Key components of the project include the construction of two reservoirs, Puhulpola and Dyaraba, a 3.98 km connector tunnel linking the reservoirs, a 15.2 km main tunnel, an underground power plant, transmission lines, and associated infrastructure.

The project was undertaken by Iran’s FARAB Engineering Company, with a total contract value of $ 514 million and it commenced on 15 March 2010.

The Export Development Bank of Iran (EDBI) initially contributed $ 50 million in funding until 2013.

However, owing to international sanctions imposed on Iran, the EDBI was unable to continue its financial support for the project. Accordingly, the Government of Sri Lanka opted to advance the project using state funds in collaboration with the respective contractor, FARAB Company.

When the project commenced on March 15, 2010, it was originally slated for completion by 15 March 2015. However, various challenges arose, including technical issues.

Consequently, the completion date of the project has been extended to 31 March 2024, along with an extension of the warranty period until 31 March 2025.

The basic phase of operations concluded in February and March 2024 while linking the units 01 and 02 to the national grid successfully. Trial operations commenced on 1 April 2024.

April 25, Colombo (LNW): During a meeting between a delegation from the Samagi Jana Balawegaya (SJB) led by opposition leader Sajith Premadasa and a visiting delegation from the Chinese Communist Party (CPC), Tamil Progressive Alliance (TPA) Leader Mano Ganesan expressed the importance of China’s role in the contemporary Asian landscape.

Ganesan highlighted the significance of the BRICS grouping, consisting of China, India, Russia, and other countries, in shaping regional dynamics.

He emphasised the potential benefits for Sri Lanka in gaining entry into BRICS in the future and urged for Chinese support in this endeavour.

The sentiment was shared during discussions with Sun Haiyan, Vice Minister of the Central Committee of China, at the opposition leader’s office.

MP Ganesan articulated these aspirations for Sri Lanka’s enhanced regional engagement.

“China plays a key role in the Asia Centric world today. Beyond this China, India, Russia plus countries are well placed in the BRICS grouping. Hence, in future, Chinese good offices should support Sri Lanka to get an entry into BRICS,” emphasised the Tamil Progressive Alliance Leader.

April 25, Colombo (LNW): The holding of tuition classes and seminars for the 2023 GCE Ordinary Level examination will be subject to prohibition, effective from midnight on April 30, the Department of Examination announced.

Deputy Commissioner of Examinations, Lasika Samarakoon, emphasised the strict enforcement of this regulation, with stern action to be taken against individuals found in violation.

Preparations are underway for the administration of the GCE O/Level exam scheduled to take place from May 6th to 15th.

Additionally, the Department of Examinations disclosed that the results of the recently conducted GCE Advanced Level examination will be released in May.

By: Staff Writer

April 25, Colombo (LNW): Getting into a resilient mode after navigating severe economic turbulence, Sri Lanka is doubling down on its efforts to attract foreign direct investment and investors by rolling out a landmark investment law designed “to eliminate the existing complexities.”

The island nation’s State Minister of Investment Promotion Dilum Amunugama said the Sri Lankan government expects to attract 4 billion to 4.5 billion U.S. dollars in foreign investments in 2024.

The state minister said in 2023 Sri Lanka attracted 1.8 billion dollars worth of foreign investments, although the target was only 1.5 billion dollars.He said that the government has set an investment target of 4.5 billion dollars in 2024.

Amunugama said foreign investments have increased significantly after the country entered into an agreement with the International Monetary Fund (IMF).

He said that due to the political and economic instability in Sri Lanka, foreign investment declined in 2022 and the first half of 2023.

The new investment law, the minister said, will ensure the rights of foreign investors to make Sri Lanka an investment-friendly destination.

The game-changing law will feature several incentives for foreign investors. Also on the cards is an initiative to give free land ownership rights to foreign investors, he said.

Part of the new measures is the setting up of an Investor Facilitation Centre to provide comprehensive facilities, including addressing investor issues.

It will operate in close coordination with various government agencies. The centre would serve as a platform for investors to swiftly address their current challenges. Specific investment zones with the potential to attract investments to Sri Lanka have also been identified, according to the minister.

Going forward, Sri Lanka expects to accelerate the recovery process of its $89 billion economy (2021) by focusing primarily on its agriculture sector, followed by tourism and investment sectors, said the minister.

On debt restructuring discussions with the IMF, the minister said he is optimistic of resolving all pending issues although “we cannot meet all their (IMF) conditions in the current situation.”

The debt restructuring is crucial for Sri Lanka to reach a 2.3 per cent primary budget surplus by 2025, the key fiscal target set by the IMF.

According to data from the finance ministry, Sri Lanka’s external debt was $36.09 billion at the end of March this year. Once the debt restructuring is completed, Sri Lanka hopes to reduce its overall debt by $16.9 billion.

The country owed about $10 billion to multilateral banks like the World Bank and the Asian Development Bank and $11.33 billion to bilateral creditors, including the Paris Club nations and China, Japan, and India. Commercial loans, comprising of sovereign bonds and other time-bound loans, accounted for $14.75 billion.

April 25, Colombo (LNW): In a dramatic turn of events, a 32-year-old Sri Lankan man, missing since April 17 after leaping over a safety fence near Adam’s Peak, has been located safe and alive, following a massive search effort by local authorities.

The man, identified as Dinesha Hemantha (32) from Suriyawewa, Hambantota, made the daring decision to jump over the fence while journeying with a group of pilgrims towards the revered peak, according to Police.

His actions triggered an extensive search operation coordinated by the local Police, Police Special Task Force, and the Sri Lanka Army.

After days of intense searching, local residents in Nallatanniya spotted Dinesha on April 24, prompting immediate intervention by authorities.

Responding promptly, police officers located him near a canal bordering the Sripada Reserve, where he was found dehydrated and in need of medical attention.

Despite sustaining minor leg injuries, Dinesha recounted having no recollection of his time at the Upper Terrace of Adam’s Peak.

He shared that he woke up near the canal, surviving for five days by navigating downstream, seeking refuge in rock caves, and relying solely on water for sustenance.

Following his discovery, Dinesha was promptly admitted to Dik Oya Hospital for necessary medical care, after receiving initial treatment at Maskeliya Regional Hospital.

The motives behind Dinesha’s decision to jump over the safety fence remain unclear, as authorities continue their investigation into the incident.

1. Iran and Sri Lanka bolster ties with the signing of five MoUs covering film, media, tourism, cooperatives, libraries, and cultural, scientific, technical, and sports cooperation: President Raisi visited Sri Lanka, witnessing the agreements’ signing and participating in ceremonial events, including the inauguration of the Uma Oya Multipurpose Development Project.
   
2. Opposition Leader Sajith Premadasa says professional lecturers should become part of the great revolution in education in Sri Lanka: stresses everyone, including the professional scholars, must come together and bring about a massive positive transformation of the quality of education, as a powerful collective that creates the intellectual force of Sri Lanka: adds parallel to the strengthening of free education, value should be added to the education system.
   
3. President Ranil Wickremesinghe holds a meeting with SLPP’s Basil Rajapaksa and other party representatives to discuss political alliance plans ahead of the upcoming presidential election: Despite separate May Day rallies, they aim to merge post-election: The President is expected to run as a common candidate under a new alliance symbol: Launch of the campaign is anticipated after securing the IMF tranche in June: Discussions will include other political groups like those led by MPs Weerawansa, Alahapperuma, and Pivithuru Hela Urumaya.
   
4. Labour and Foreign Employment Minister Nanayakkara instructs SLBFE officials to crack down on fraudulent schemes promising overseas jobs: emphasises lodging complaints and urged proactive measures against illicit activities: Recent incidents, including involvement of a police sergeant and a monk, highlight the need for thorough investigations: reiterates only licensed agencies can receive payments for job placements.
   
5. The government plans to seize 112 vehicles illegally imported into Sri Lanka, valued at Rs. 7 billion: Finance State Minister Ranjith Siyambalapitiya reveals steps would be taken to confiscate these vehicles identified by the Fraud and Corruption Investigation Commission between 2015 and 2022: Buyers are reminded of their responsibility to ensure vehicles are legally imported.
   
6. Varun Beverages Lanka (Pvt) Ltd. is launching “Clean Green Sri Lanka,” urging people to responsibly collect waste PET plastic bottles: aims to educate the public on proper disposal and recycling of PET plastic: introduces electric bicycles for efficient and eco-friendly waste collection, empowering marginalised communities and promoting sustainability: The initiative pioneers the use of electric bikes for recycling in Sri Lanka, aiming to change perceptions and promote environmental stewardship.
   
7. Sri Lanka will host the 34th ISO Technical Committee meeting for tea on July 24th, gathering delegates from over 45 countries to discuss global tea industry standards: Led by Sri Lanka’s Tea Research Institute and Standards Institution, the meeting will focus on key aspects of tea production and adherence to standards: This marks the first physical meeting since the pandemic, signifying a crucial moment for global tea industry collaboration.
   
8. The GMOA urges the government to halt the recent Cabinet decision allowing local students into the General Sir John Kotelawala Defence University’s medical programme: cites concerns over transparency and consultation: plans to seek clarification from the President’s Office and calls for suspending the decision until further details are provided.
   
9. A 32-year-old man who went missing after jumping over a safety fence near Adam’s Peak has been found alive: He was located in Nallatanniya after days of searching: Identified as Dinesha Hemantha, he sustained minor injuries and was admitted to Dik Oya Hospital for treatment: His motives for jumping remain unclear.
   
10. The 2024 ICC Women’s T20 World Cup qualifiers begin in Abu Dhabi today: Sri Lanka will face Thailand in Group A, while Ireland will face the UAE in Group B: Matches start at 4:30 pm local time: Group A includes Sri Lanka, Thailand, Scotland, Uganda, and the USA, while Group B comprises Ireland, Zimbabwe, Netherlands, UAE, and Vanuatu: The main tournament is scheduled to be hosted in Bangladesh between September and October 2024.

April 25, Colombo (LNW): The government plans to seize 112 vehicles that were unlawfully imported into Sri Lanka over the past several years, Finance State Minister Ranjith Siyambalapitiya disclosed.

In a statement issued by the Finance Ministry, the State Minister highlighted that these vehicles, valued at Rs. 7 billion, had been brought into the country illegally between 2015 and 2022.

Siyambalapitiya noted that the Fraud and Corruption Investigation Commission had identified these unlawfully imported vehicles.

Steps, accordingly, would be taken to confiscate these vehicles from their current owners who are utilising them, he emphasised.

The State Minister underscored that buyers are responsible for ensuring that vehicles are legally imported.