President will visit China in October

President Ranil Wickremesinghe is set to make an official visit to China in October, his first to that country since becoming the Head of State last year.

According to Government sources his main role will be to look for new investments, reach trade agreements and resume funding for stalled projects. Expediting investments for the Colombo Port Financial City and discussions with the Exim Bank on resuming funding for the Central Expressway–Kadwatha-Mirigama section–would be on the table for discussion during the visit, while looking for new investments around the Hambantota area would be on the priority list, the sources said.

A Chinese investment in a refinery project in Hambantota which was expected to draw funds of US$ four billion was also expected to be discussed and finalised during the visit.

The Terms of Reference for the Establishment of an export oriented petroleum refinery and an associated product processing centre in Hambantota had already been finalised by the Power and Energy Ministry.

Ahead of the President’s visit, the Chinese Foreign Minister was expected to lead a delegation to Sri Lanka.

The visiting Chinese delegation was expected to review the expressway project, the Colombo Port Financial City proposed projects and the investments around the Hambantota area in addition to looking at potential new projects.

Dalai Lama formally accepted request to visit SL – Mahanayaka Thera

The spiritual leader of Tibet – His holiness Dalai Lama has formally accepted an invitation to visit Sri Lanka, says the most Ven. Waskaduwe Mahindawansa Mahanayake Thera of the Amarapura Sri Sambuddha Shasanodaya Maha Sangha Sabha.

The Thera said this during the ‘Multilingual Scholarly Symposium’ held at the University of Kelaniya on July 06th as a tribute to the spiritual leader. The event also coincided with his holiness’ 88th birthday.

This event was held with the coordination of the University’s Department of Pali and Buddhist Studies, Department of Philosophy and the Department of Sanskrit & Eastern Studies as well as that of the Foundation for Buddhist Brotherhood, International Buddhist Confederation and the Sri Lankan Tibetan Buddhist Brotherhood Society.

According to the Mahanayaka Thera, this invitation was extended in 2022 when His Holiness started his annual visit to Bodh Gaya, where the Mahanayake Thero was also present with a Sri Lankan delegation.

Emphasising the importance of a visit by the Dalai Lama to Sri Lanka, the Mahanayaka Thera pointed out that that such a visit would also mark the arrival of countless Buddhist devotees around the globe which will definitely lead to a revival of tourism as well as foreign investments.

“Damage to Sino-Lanka friendship”

However, in a special interview done with ‘Sri Lanka Mirror’ last January, Mr. Hu Wei, Acting Ambassador of the Chinese Embassy in Colombo, said that a visit by the Dalai Lama could damage the friendship between Sri Lanka and China.

Explaining that the mutual trust between the two countries is based on the ‘One China’ policy, Mr. Hu Wei explained that Jaffna or Kandy is a part of Sri Lanka and Tibet is not an independent country but a part of China.

Mr. Hu Wei had further mentioned that he had discussed this with the Maha Nayaka Theros and monks during his visit to Kandy back then, and was assured that none of them had extended such an invitation.

Meanwhile, during a meeting with his Chinese counterpart – Mr. Qin Gang in Beijing last month, Sri Lankan Foreign Minister – Ali Sabry had assured Sri Lanka’s continuous adherence to the ‘One China’ policy and to build the Belt and Road Initiative.

 

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Lankan envoy discusses investment prospects with Federation of Indian Chambers of Commerce and Industry

Continuing his discussions with senior Indian private sector figures, Sri Lanka’s High Commissioner to India, Milinda Moragoda, held a meeting in New Delhi with Subhrakant Panda, the President of The Federation of Indian Chambers of Commerce and Industry (FICCI). Panda, who is also the Managing Director of Indian Metals & Ferro Alloys Ltd (IMFA), India’s foremost fully integrated producer of value-added ferro chrome, engaged in fruitful discussions with High Commissioner Moragoda.

Panda and the High Commissioner of Sri Lanka discussed a range of issues pertaining to possible cooperation between FICCI, Trade Chambers in Sri Lanka and the Sri Lanka High Commission. The High Commissioner provided Panda with an update on the assistance provided by the Indian Government during the economic crisis. Moreover, he underscored Sri Lanka’s current state of readiness to embrace large-scale investment from India.

Panda shared valuable insights into FICCI’s rich history spanning 96 years, highlighting its vast network that encompasses not only India’s largest companies but also small and medium-sized enterprises (SMEs).

Both parties recognized the significance of targeted sector-specific investments, aiming for greater integration with the Indian economy. It was agreed to engage with Sri Lankan trade chambers and the High Commission to take this initiative further

Sallesh Pathak, Secretary General of FICCI, and Dr. Gunveena Chadda, Assistant Secretary General of FICCI, were present at the meeting. The High Commissioner was accompanied by Sarath Godankanda, Minister Counsellor, and Geshan Dissanayake, First Secretary (Commercial).

Sri Lanka’s Speaker thanks India, PM Modi for help during financial crisis

Expressing his gratitude to “trustworthy friend” India for saving Sri Lanka and preventing a “bloodbath” during its unprecedented economic crisis last year, Parliament Speaker Mahinda Yapa Abeywardena has said that not a single nation has extended that kind of assistance to Colombo as done by New Delhi.

Sri Lanka was hit by a catastrophic financial crisis in 2022, the worst since its independence from Britain in 1948, due to a severe paucity of foreign exchange reserves.

As the country struggled, locked in the throes of the crisis, India extended multi-pronged assistance of about USD 4 billion to it last year, through multiple credit lines and currency support, in line with India’s ‘Neighbourhood First’ policy.

In his address at the gala dinner reception hosted for delegates of the Indian Travel Congress here on Friday, Abeywardena said India “saved us” during the financial crisis, otherwise, there would have been “another bloodbath for all of us”.

At the evening reception, he thanked India for the help extended to the cash-strapped nation and recalled the civilisational ties and similarities between the two countries and their cultures.

“Sri Lanka and India are very, very closely interconnected countries, culturally, nationally, and policy-wise, and above all, India has been a very close associate and trustworthy friend of Sri Lanka,” Abeywardena said, adding that when “we were in trouble”, India always helped out.

“And, even this time, today, I heard that India is willing to extend our restructuring of loans for 12 years. Never expected, and never in history, not a single country has extended that kind of assistance,” he said.

He recalled the helping hand lent by India during the period of trouble last year that devastated the Sri Lankan economy, pushing it into a debt crisis.

“I must tell you, during the trouble that we had last year, you (India) saved us, India saved us otherwise, there would have been another bloodbath for all of us. So, that is how India came to help us,” Abeywardena said.

He made the remarks in the presence of the Indian High Commissioner to Sri Lanka, Gopal Baglay, Sri Lanka’s Tourism and Lands Minister Harin Fernando, and other senior officials of the Sri Lankan government.
“Your ambassador here, (is a) very close friend of ours. We love and respect him,” the Speaker said, referring to Baglay.

Later, in an interaction with PTI on the sidelines of the reception, Abeywardena said, “India has always come to aid of Sri Lanka” in times of crises, and laid emphasis on the financial assistance given by New Delhi last year when the island nation was mired in the economic turmoil.

“That helped us survive for six months in the midst of the crisis,” he said “We thank India for the kind gesture, and I also say, thank you, honourable Prime Minister of India (Narendra Modi),” he told PTI.

Noting the similarity between the Indian surname Singh and the Sri Lankan surname Singhe, Abeywardena said, “It shows we are genetically connected to India”.

“That way, India is not a new country to us. It’s part of the ethos of our country, part of our life, part of our heart,” he said, adding, “We are here to receive you, respect you, join with you.” “Together, we (Sri Lanka) can join with you (India), without any difficulty or hesitation, with great trust,” the Speaker said.

In his address, Tourism and Lands Minister Fernando pitched Sri Lanka — Pearl of the Indian Ocean — as a unique destination for India and the rest of the world, saying, “One island nation offers so many different tourist experiences, without travelling far from one location to another.” Meanwhile, several sessions were held on Saturday as part of the three-day 67th Convention of the TAAI (Travel Agents Association of India) which began here on July 6.

The four-day convention of the TAAI which was established in 1951, is being held with the support of the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lankan Association of Inbound Tour Operators (SLAITO).

Source – PTI

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More Perks for SLPP Senior MPs – Lankadeepa

It is reported that the Government has decided to provide various positions, including coordinating secretary positions, vehicles and other privileges to the family members of Sri Lanka Podujana Peramuna (SLPP) MPs who are anticipating Ministerial positions, the Lankadeepa Newspaper reported.

“It is learned from Government sources that family members of several MPs have already been offered such posts and vehicles” Lankadeepa added.

Sources also mentioned that this step has been taken with the aim of appeasing the MPs and preventing them from working against the Government since the appointment of new ministers have been delayed.

“It is reported that the SLPP has been requesting the President for Ministerial positions for ten more members of the SLPP. But due to the government delaying the allocation of ministerial posts, some MP have warned that they might vote against the government in certain crucial bills in Parliament” Lankadeepa news report added.

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The Dalai Lama’s 88th birthday celebrated in Sri Lanka

The 88th birthday of His Holiness the Dalai Lama, the spiritual and religious leader of the Tibetan people, who is respected by the whole world, a Buddhist monk with a heart filled with kindness, the Nobel Peace Prize laureate, was held in the University of Kelaniya, Sri Lanka on July 06.

His Holiness the Dalai Lama, who perfecting himself for worldly Enlightenment is the 14th Dalai Lama of Tibet and holds two titles, the King and the Sangharaja of the Tibetan People. Tibet was the first and the only country in the world to have such a unique feature. Also, His Holiness the Dalai Lama, who has the virtue of compassion and generosity, has earned the respect of the whole world for his patience, kindness, compassion and the ocean of knowledge on Buddhist Philosophy and many other fields like science, logic etc. His Holiness has written more than 100 books based on Buddhist doctrine and has delivered an uncountable number of teachings based on Sutra, Abhidhamma, Vinaya and many other topics.

Based on the great kindness arisen from the Buddha’s teachings and following an unchanging policy of non-violence, His Holiness was awarded the Nobel Prize for Peace in 1989 for his unique peace ability for peacemaking.

The occasion of His Holiness the Dalai Lama’s 88th birthday was celebrated by millions of his followers and devotees from all over the world in their respective countries. In order to celebrate his birthday in Sri Lanka, in a meaningful way, an International Scholarly Symposium was organized by the University of Kelaniya; Faculty of Humanities, Faculty of Social Sciences, Department of Pali and Buddhist Studies, Department of Philosophy, Department of Sanskrit and Eastern Studies, the Foundation for Buddhist Brotherhood and the International Buddhist Confederation (IBC) in the premises of University of Kelaniya, Sri Lanka.

The occasion was graced by the Chancellor of the Gampaha Wickramarachchi University of Indigenous Medicine, Most Ven. Dr Niyangoda Vijithasiri Anunayake Thero as the Chief Guest, former Vice Chancellor of Central Tibetan University, Saranath Prof. Most Ven. Geshe Ngawang Samten as the Keynote Speaker and Most Ven. Dr. Waskaduwe Mahindawansa Mahanayake Thero as the guest speaker.

Most Ven. Dr. Waleboda Gunasiri Anunayake Thero, Most Ven. Prof. Pallekande Rathanasara Anunayake Thero, Most Ven. Dr. Madampagama Assaji Anunayake Thero and Most Ven. Elikewala Seelananda Nayaka Thero participated in the event representing the three Main Nikayas of Sri Lanka.

Snr. Prof. Chandima Wijebandara, Snr. Prof. UdithaGarusinghe, Prof. Jayantha Waththevidana, Dr Chaminda G. Gamage, Dr Anuradha Mahasingha represented different seats of higher learning. Members of Buddhist organizations from various countries, namely, Japan, Vietnam, Korea, Thailand, and Myanmar also joined the symposium. Academics, diplomats, and scholars joined in representing different fields as dignitaries. The inauguration programme was held at the Faculty of Humanities Auditorium, the University of Kelaniya.

Ven. Dr. Deniyaye Pannaloka Thero (Senior Lecturer, Department of Pali and Buddhist Studies) delivered the welcome address at this event welcoming the eminent guests who participated in this grand International Symposium and the Chairman of the Foundation for Buddhist Brotherhood Dr Damenda Porage addressed the scholarly gathering explaining the objectives of the conference. Then, all the participants witnessed His Holiness the 14th Dalai Lama’s special video message.

Most Ven. As the guest speaker, Dr Waskaduwe Mahindawansa Mahanayake Thero made a very important statement in his ‘anusasana’. He said, ‘During His Holiness, the Dalai Lama’s annual visit to Bodhgaya in 2022, our Most Venerable Mahanayake and Anunayake Theros who were among the delegations met His Holiness and invited him for a pilgrimage in Sri Lanka. His Holiness the Dalai Lama has informed me in writing that he accepted the invitation. Accordingly, if the arrival of His Holiness the Dalai Lama to Sri Lanka occurs, millions of followers and devotees from all over the world will also come to Sri Lanka, which will be a huge boost to the tourism industry. Not only that, the arrival of his followers from America, Europe, Japan, Vietnam, India, Thailand and many other countries and some of them are also giant investors who will invest in the business sector of Sri Lanka. Undoubtedly, alleviating the current economic crisis on a poverty-stricken island will be a great strength.

After this, a congratulatory message from the Snr. Prof. Nilanthi De Silva, the Vice Chancellor of the University of Kelaniya was read and a short documentary video on His Holiness the 14th Dalai Lama’s religious and social mission was presented.

The renowned Tibetan scholar former Vice Chancellor of the Central Tibetan University Snr. Prof. Geshe Ngawang Samten delivered the Keynote speech of the inauguration programme of the Scholarly Symposium under the theme of “His Holiness the 14th Dalai Lama’s Commitment to Humanity”. He eloquently explained the commitments of the Dalai Lama and how important they are to the sustainment of the modern world.

In his address, the Chief Guest, Chancellor of the Gampaha Wickramarachchi University of Indigenous Medicine Most Ven. Dr.Niyangoda Vijithasiri Anunayake Thero said ‘Today we celebrate His Holiness the Dalai Lama’s 88th birthday, which is respected and celebrated by the whole world. The Dalai Lama is known as the spiritual leader of the Buddhist world. Not only Asian Buddhist countries, but even Western countries have also accepted him as a global Buddhist leader. His Holiness was able to achieve his spiritual goals. He created followers and a strong spirituality for himself. His Holiness himself set the background for this, and his foundation is Buddhist doctrine. Our foundation is also Buddhist doctrine. Buddhist teachings help to create a disciplined and peaceful world.’

Then the vote of thanks was proposed by Snr. Lect. Ms Sanjeewani Rupasinghe of the Department of Philosophy marking the end of the Inauguration Programme.

After offering the afternoon alms to more than a hundred Maha Sangha who were present, the distinguished guests and other guests enjoyed lunch followed by scholarly discussions on His Holiness the 14th Dalai Lama and his Commitment to Humanity and Tibetan Buddhist culture. The Deans of the Social Science Faculty Prof. M.M. Gunathilaka and the Faculty of Humanities Dr. Sudath Senerath also participated in the programme.

After awarding souvenirs and certificates to the participants, the head of the Department of Sanskrit and Eastern Languages, Prof. K.B. Jayawardena proposed the vote of thanks and subsequently the International Multilingual Scholarly Symposium which was held on the occasion of His Holiness the Dalai Lama’s 88th birthday under the theme ‘Buddhist Commitment to Humanity’ ended in a grand note.

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Indian Foreign Secretary to visit Sri Lanka next week

Indian Foreign Secretary Vinay Mohan Kwatra is scheduled to visit Sri Lanka in the upcoming week, India media reported.

Accordingly, Kwatra is expected to arrive early next week to work out arrangements pertaining to President Ranil Wickremesinghe’s visit to New Delhi, scheduled for 20 July.

Since he took office in 2022, President Wickremesinghe is visiting India for the first time later this month, during which he is expected to hold bilateral talks with Indian Prime Minister Narendra Modi.

Meanwhile, Ministers of Fisheries, Energy and Power, Foreign Affairs, namely Douglas Devananda, Kanchana Wijesekera and Ali Sabry, respectively, will accompany the President, along with his Chief of Staff Sagala Ratnayake, sources revealed.

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Four days more for Maithripala to pay compensation over Easter bombings

The deadline to former President Maithripala Sirisena and other accused individuals to pay compensation for failing to avert the Easter Sunday bomb attacks will come to an end on Wednesday (July 12).

In a verdict on January 12, the Supreme Court ordered former President Sirisena to pay a sum of Rs. 100 million while former IGP Pujith Jayasundara and former SIS director Nilantha Jayawardhane were ordered to pay Rs. 75 million each as compensation, former Defence Secretary Hemasiri Fernando was ordered to pay Rs. 50 million and former National Intelligence chief Sisira Mendis was ordered to pay Rs.10 million within four months from January 12.

The Court held that these respondents had violated the fundamental rights of petitions filed over the Easter Sunday attacks.

The Easter bombings, the worst attacks in Sri Lanka since the civil war ended in 2009, took place on Easter Sunday in 2019, targeting three churches and three luxury hotels across Sri Lanka, killing 270 people and injuring over 500.

JVP accuses SLPP of helping President supersede Parliament

Sri Lanka Podujana Peramuna (SLPP) has allowed President Ranil Wickremesinghe to supersede Parliament with regards to public finance, JVP National Trade Union Coordination Centre Convenor Wasantha Samarasinghe told The Island.

He said the same Parliament that was unaware that Sri Lanka was going to default on April 2022, have voted for the resolution to restructure domestic debt without any understanding of its consequences.

The Government Printer, who had a million reasons to delay the printing of ballot papers for the local council polls, has worked on a Poya Day to issue a special Gazette notification about the domestic debt restructuring process, recently passed in Parliament, Samarasinghe said.

Samarasinghe added that Gazette has been issued by President Ranil Wickremesinghe in his capacity as the Minister of Finance under the Registered Stock and Securities Ordinance, No. 07 of 1937.

“Sri Lanka Podujana Peramuna (SLPP) MPs made Ranil the President. Now the SLPP has given Ranil power over public finance. The Parliament was given power over public finances because a single person should not have such power. However, it is obvious that Ranil now takes decisions on public finance on his own,” he said.

In this gazette, the President has given the Secretary to the Ministry of Finance, Economic Stabilization, and National Policies, and the Registrar of Public Debt the following powers; to offer to any holder of any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment the option of converting or exchanging, as the case may be, the holding as of 28th June 2023 or part thereof; to convert or exchange, as the case may be, any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment held by holders into Treasury Bonds to be issued under the Ordinance and to specify the manner in which payment of interest is made and the conditions subject to which such Treasury Bonds may be converted or exchanged, as the case may be, under the Ordinance.

“In April 2022, Sri Lanka declared bankruptcy. The Parliament didn’t know that we were going to default until the MPs saw the press release issued. The same Parliament has passed the resolution on domestic debt restructuring,” he said.

The domestic debt stock is about 42 billion U.S. Dollars. President Wickremesinghe said that he wants the foreign creditors to waive off 17 billion dollars, Samarasinghe said. That’s about 40 percent of the foreign debt stock.

“The President added that local debt holders must also waive off about 40 percent of the value of the debt. He said that there should be equity. However, it is the EPF and other pension funds that is taking a cut. Parliament has approved the stripping down of the EPF and the gazette issued is a part of laws that will be amended to implement what was approved by the Parliament,” he said.

Neither the President nor the Central Bank or Treasury officials have revealed how much of the domestic debt will be restructured, Samarasinghe said.

“122 MPs voted in favour of this resolution. I challenge anyone of those 122 MPs to tell us the amount of local debt that will be restructured,” he said.

The former MP said that for years EPF funds have been invested in sectors that gave less than market rates in return. Now, the government has officially declared that EPF will only get nine percent interest rate till 2038, he said. This is well below what people would have got if they invest in Treasury Bonds.

“EPF has loaned the government significant amounts of money at below market rates for a long time. We have asked the government to appoint representatives from unions and employers to the board that makes decisions on EPF. There are 2.4 million active accounts and 67,000 employers. Shouldn’t they have some representation? This is the largest fund in the country, but the money is being handled without any transparency,” he said.

In 2018, EPF was strapped with a 14 percent tax, up from 10 percent. The Central Bank governs the EPF finds, and it is also entrusted with restructuring domestic debt, and this is a clear conflict of interest. Meanwhile, the owners of the fund have no say in how their money is used.

There are 117 superannuation funds. Each year, due to the lowering of interest rates, workers will lose between 600 and 1000 billion rupees a year from EPF alone, he said.

“The government doesn’t let workers invest in higher-yielding sectors. The Central Bank invests EPF funds in things that give it low returns. After doing that, it proposes to further cut benefits for the workers. Between 2008 and 2012, EPF money was invested in stocks, and workers lost three billion rupees. Over the years, money was invested in SriLankan and other bad bets. How much money did the EPF lose due to the bond scam?” Samarasinghe asked.

Samarasinghe said that the government has done nothing to increase foreign revenue, and once the country starts to pay external debt, the dollar will significantly appreciate against the rupee.

Tamil leaders jointly urge Canadian Director of South Asian Affairs to urge Sri Lanka to implement 13 A

“President Ranil Wickremesinghe talks a lot. He does less. The international community including Canada, America, India, European Union, Australia and Japan should urge President Ranil Wickremesinghe with one voice to implement the 13th amendment in the Constitution and first drum up his integrity. Canada needs to take the initiative. Canada has a right to this as a country that has given shelter to a large number of Tamils who have left the country.”

A top Canadian official had discussions in Sri Lanka covering a range of issues including reconciliation and accountability.

The Canadian High Commission in Colombo said that Marie-Louise Hannan, Director General, South Asia at Global Affairs Canada has concluded a visit to Sri Lanka.

“She met, Tamil Progressive Alliance leader Mano Ganesan MP, Tamil Eelam Liberation Organization leader Selvam Adikalanathan MP, Democratic People’s Liberation Front leader D. Siddharthan MP. They have insisted in person to the Director General of South Asian Affairs of the Canadian Ministry of Foreign Affairs, Maria Louise Hanan.

“The 13th Amendment is not a complete solution to the national race problem. We know this. But before making new laws, let President Ranil Wickremesinghe enact the 13th Amendment Power Sharing Act and the 16th Amendment Language Rights Act in the Constitution. The international community should emphasize it. Today we are tired of talking with the Sri Lankan government. Similarly, we are getting tired of talking about the same thing to the international community” – they said.

In this regard Mano Ganesan MP. In a Twitter post,

“Celebrating pluralism, power sharing, 13th amendment, language rights and equality were usefully discussed with the Canadian side,” he said.

The representatives of the Tamil party leaders representing the Tamil people in this country told the Director General of South Asian Affairs of the Canadian Ministry of Foreign Affairs and the Canadian Ambassador to Sri Lanka that they will never accept this country as a country that belongs only to the Sinhalese Buddhist and they will fight against any Colombo government that promotes such a policy.

Tamil Leaders said that they are getting tired of talking to the government about their aspirations and they are getting tired of explaining to the international community.

The Canadian side told the Tamil party leaders who met them that it was news to them.

The Canadian party told the party leaders that they understand what the Tamil leaders said today.

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