March 22, Colombo, LNW: Allegations from the Maha Sangha, archaeologists, and intelligentsia regarding the slow response to addressing cracks emerging on the surface of the historic Jethawana Stupa in Anuradhapura Sacred City have spurred attention to the site’s preservation.

The Central Cultural Fund (CCF) refutes these claims, asserting that they are baseless and unfounded. However, reports indicate cracks, notably on the southwest side, extending vertically downwards and penetrating horizontally up to ten meters into the stupa.

The Jethavana Stupa, standing at 400 feet tall and built by King Mahasen, holds significant historical importance, being erected on the cremation site of the Most Venerable Arahant Mahinda Thera. Once the third tallest structure globally, its structural integrity remains paramount.

Ananda Jayawardhana, project manager for both Jethavana and Abayagiri sites, alongside Chief Preservation Supervisor Priyantha Kumara Rathnayaka, reassured that efforts have been underway since 2016 to monitor and preserve the stupa. Sophisticated strategies are being employed to identify the causes of eight cracking lines on the dome.

Since 1981, extensive explorations, excavations, and preservation endeavors have been ongoing. Despite restoration efforts after a thunderbolt strike in 2014, cracks were identified in 2016, with recent investigations revealing the depth of the southwest crack.

An exclusive Ground Penetrating Radar (GPR) test conducted in February 2022 prompted the removal of brick structures and the application of a special mixture to fill the crack. Additionally, the installation of rain gauges and mini prisms aims to monitor any structural changes and weather-related impacts.

Prof. Gamini Ranasinghe, Director General of the CCF, emphasized the importance of long-term vigilance and scientific maintenance. While acknowledging the stability of current cracks, he urged patience and adherence to advanced monitoring systems to safeguard the stupa’s cultural and religious significance.

An allocation of Rs. 128 million for 2024 underscores the commitment to restoring and maintaining the Jethavana Stupa, with ongoing support from experts, institutes, and professionals to avert irreparable damage. Efforts are underway to engage UNESCO for further assistance and intervention in this critical preservation endeavor.

March 22, Colombo, LNW: In a momentous meeting at the Presidential palace in Juba, Ambassador Kana Kananathan orchestrated a pivotal diplomatic exchange with His Excellency Salva Kiir Mayardit, the President of South Sudan. This cordial encounter emphasized the steadfast commitment to strengthening bilateral ties between the two nations, signaling the dawn of a new era of cooperation and mutual prosperity.

President Kiir, also the esteemed chairperson of the East African Community (EAC), warmly welcomed Ambassador Kananathan, acknowledging the significance of their discussions in nurturing diplomatic relations and promoting regional stability.

During the meeting, Ambassador Kananathan briefed President Kiir on the partnership between South Sudan and the Sri Lankan-based Mayleen Group, aimed at spearheading the construction of a cutting-edge airport in Akon city. Highlighting the project’s importance, Ambassador Kananathan underscored how this ambitious initiative represents a significant leap forward in South Sudan’s infrastructure development, poised to stimulate economic growth and enhance national connectivity.

With South Sudan’s vast oil reserves ranking among the largest in sub-Saharan Africa, they serve as a cornerstone of the nation’s economic landscape, constituting the primary source of export earnings.

The collaborative partnership between Sri Lanka and South Sudan stands as a testament to the efficacy of joint efforts in fostering prosperity and progress in both nations.

March 22, Colombo, LNW: President Ranil Wickremesinghe has announced ambitious immediate plans to develop the Mahaweli A and B zones, previously overlooked by the Mahaweli project, as part of Sri Lanka’s transition towards a modern agricultural economy. This initiative, he emphasized, would bring substantial benefits to the residents of these areas.

The President underscored the pivotal role played by the late Gamini Dissanayake in implementing the Mahaweli project, which revolutionized irrigation practices and facilitated self-sufficiency in rice production and electricity generation in Sri Lanka.

President Wickremesinghe made these remarks during the ceremony commemorating the 82nd birth anniversary of Minister Gamini Dissanayake on Wednesday (20), held at the Gamini Dissanayake statue on Ananda Coomaraswamy Mawatha in Colombo.

Paying tribute to the memory of Gamini Dissanayake, the President laid floral tributes at his statue, honoring his dedication as an exemplary model for all.

The commemorative event commenced with religious ceremonies led by eminent monks, followed by a minute of silence to honor the memory of national heroes, including those who perished in the Thotalanga tragedy alongside Gamini Dissanayake.

MP Mayantha Dissanayake, Vice President of the Gamini Dissanayake Foundation, delivered the welcome address, while former Speaker Karu Jayasuriya praised Gamini Dissanayake’s character as a political precedent, highlighting his popularity and service to the people.

Reflecting on his father’s legacy, Sabaragamuwa Province Governor Navin Dissanayake emphasized Gamini Dissanayake’s belief in the economic system of the United National Party and expressed hope for a future moderate right-wing movement.

The event was attended by Minister Dr. Wijeyadasa Rajapakshe, State Minister Aravinda Kumar, Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayake, along with several MPs and political representatives, as well as family members of the late Gamini Dissanayake.

March 22, Colombo, LNW:In a significant operation conducted yesterday (21), officers from the Illegal Assets Investigation Division of the Criminal Investigation Department moved swiftly to seize properties valued at more than Rs. 100 million, believed to be owned by the primary kasippu (illicit liquor) smuggler in Nikaweratiya, under the purview of the Money Laundering Act.

According to police sources, the seized assets include a van, a lorry, various parcels of land, and multiple residential properties, some of which are registered under different individuals’ names.

A senior police official emphasized that the transfer or disposal of these assets is prohibited. Failure by registered owners to provide a legitimate explanation for the acquisition of these assets during court proceedings will result in their confiscation as unlawfully obtained property. The investigation stems from a complaint lodged with the Illegal Assets Investigation Division of the Criminal Investigation Department by Senior DIG Kithsiri Jayalath of the North Western Province.

It has been revealed that the detained individual has been involved in large-scale kasippu trafficking across the Kurunegala district in the North Western Province for over three decades, amassing substantial wealth and property through illicit means.

Additionally, investigators have announced plans to scrutinize both the dealer’s and his family members’ bank accounts to uncover any further financial irregularities linked to the illegal enterprise.

March 22, Colombo, LNW: Showers or thundershowers will occur at several places elsewhere in the island during the afternoon or night.

Fairly heavy showers above 50mm are likely at some places in Western, Sabaragamuwa and North-western Provinces.

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

General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

March 21, Colombo (LNW): For the third consecutive day this week, the buying price of the US Dollar remains below the Rs. 300 mark today (21), as per the official exchange rates issued by the Central Bank of Sri Lanka (CBSL).

Accordingly, the buying price of the US Dollar has dropped to Rs. 299.04 from Rs. 299.13. Meanwhile, the selling price of the US Dollar has increased to Rs. 308.80 from Rs. 308.72.

The Sri Lankan Rupee further indicates slights depreciation against several other foreign currencies, including Gulf currencies.

By: Staff Writer

March 21, Colombo (LNW): The United States Government has endorsed Sri Lanka’s request for an additional five-month extension of proceedings in the case filed by a bondholder after the South Asian nation defaulted on its debt for the first time in history while struggling to stop an economic meltdown.

Hamilton Reserve Bank Ltd., which holds more than $250 million of Sri Lanka’s 5.875% International Sovereign Bonds due July 25, filed the suit Tuesday in a New York federal court seeking full payment of principal and interest.

Applauding Sri Lanka’s efforts in its debt restructuring program and the strides made, the US views an extended stay as a reasonable measure aligned with US policy.

In a letter addressed to US District Judge Denise L. Cote, the Department of Justice affirmed Sri Lanka’s strategic importance as a key partner in the Indo-Pacific region where the US government wholeheartedly backs Sri Lanka’s endeavours toward economic recovery and its ongoing advancements within the IMF program.

This support also extends to Sri Lanka’s economic and governmental reforms initiatives, aimed at fostering sustainable economic growth and development.

Highlighting the adverse effects of failed debt restructuring, the Department of Justice said: “As the Court previously held, a breakdown in restructuring negotiations could threaten Sri Lanka’s progress towards International Monetary Fund (IMF) targets, its economic recovery, and the well-being of its citizenry.

By contrast, a stay significantly benefits the interest of Sri Lanka’s bilateral creditors and private commercial creditors who are actively involved in the debt restructuring negotiations. It also supports the public interest. Those same grounds for granting the first stay apply to Sri Lanka’s motion for a further stay.”

For decades, the US has been significantly interested in the orderly and cooperative resolution of sovereign debt defaults, which is crucial to the stability and future growth of the world and the US economy.

“In October, the United States assessed that a stay would facilitate an orderly and consensual sovereign debt restructuring process, as the expectation is that the Official Creditors Committee (OCC) and other bilateral creditors will reach consensus on debt treatment terms.

Sri Lanka is to seek comparable treatment from its commercial creditors and other official bilateral creditors—by the end of the year, with the process for implementing those terms via bilateral agreements between the respective creditor countries and Sri Lanka Underway.

It explained that a stay would also facilitate negotiations with private creditors, an estimated majority of which, through the Ad Hoc Bondholders Group, have conditioned their participation on the application of comparable treatment.

Since the Statement of Interest was filed and the Court granted the stay of proceedings, Sri Lanka has made demonstrable progress on its debt restructuring. Sri Lanka has been proceeding in negotiations with official creditors in good faith.