No records of Rs. 5,415 billion of state investment returns

As much as 66 per cent of the financial and non-financial returns of state investments in the past 15 years have been unaccounted for by end 2021, an audit report points out.

From 2006 to 2021, Rs. 8,199 billion had gone for constructions, procurements etc., but Rs. 5,415 billion of assets are not included in accounts.

Only about 2,784 billion is accounted for.

Financial statements issued between 2005 and 2014 had no records of non-financial assets, which began to be included only in 2015.

The Auditor General’s Department has recommended to the Treasury that both financial and non-financial assets should be on record.

(lankadeepa.lk)

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If we ignore Tamil, it will be a great disservice to the nation, says PM Modi

Prime Minister Narendra Modi inaugurated the Kashi Tamil Sangamam in Varanasi on Saturday, highlighting the bond between Kashi and Tamil Nadu, both being ancient centres of culture and civilisation. He expressed hope in this event acting as a catalyst to generate the feeling of ‘Ek Bharat Shrestha Bharat’ (One India, Best India), and took the opportunity to honour the ‘aadhinams’ (religious leaders) of Tamil Nadu’s various religious places and monasteries.

He also released the translated versions of the Thirukkural, ​​and interacted with students from Tamil Nadu who had come to visit Kashi.

In his inaugural address, Mr. Modi greeted the audience with ‘Vanakkam Kashi, Vanakkam Tamil Nadu, Har Har Mahadev’. “Both regions are the centres of the oldest languages, Sanskrit and Tamil. In Kashi, we have Baba Vishwanath, while in Tamil Nadu, we have the blessings of Lord Rameshwaram. Both Kashi and Tamil Nadu are ‘Shivmay’ and ‘Shaktimay’,” said the PM, who represents Varanasi in the Lok Sabha.

Paying rich tributes to poet and freedom fighter Subramania Bharathi, the Prime Minister said, “There is a great personality from Tamil Nadu, Subramania Bharathi, a great poet and freedom fighter, who lived for a long time in Kashi and studied here. It is said that it was here (in Varanasi) that he (Bharathi) sported his popular moustache.” He hailed the Banaras Hindu University (BHU) for establishing a chair dedicated to Bharathi which, he said, enhanced its pride.

He stated that India is a nation that has lived in natural cultural unity for thousands of years and despite having one of the world’s oldest living languages, i.e. Tamil, we have failed to honour it fully. “This is the responsibility of 130 crore Indians to preserve the legacy of Tamil and enrich it. If we ignore Tamil, we do a great disservice to the nation, and if we keep Tamil confined in restrictions, we will do it great harm,” added Mr. Modi.

The Prime Minister claimed that the Kashi-Tamil Sangamam is unique in many ways and this confluence signifies India’s cultural foundation. “Our nation’s cultural hub today is Kashi, which encompasses the entirety of India. On the other hand, Tamil Nadu and the Tamil culture are the foundation of India’s antiquity and pride. This confluence is as sacred as the Ganga and the Yamuna. Like Ganga and Yamuna, it is a source of limitless potential and power,” he added.

Mr. Modi also highlighted the role played by Tamil Nadu in the making of Kashi. He said Dr. Sarvapalli Radhakrishnan, who was born in Tamil Nadu, was the Vice-Chancellor of the BHU. The renowned Vedic scholar Rajeshwar Shastri lived in Kashi, even though he had his roots in Tamil Nadu. He said that the people of Kashi also miss Pattabhirama Shastri who lived on Hanuman Ghat here.

“If you visit Kashi, you will see the Kashi Kaam Koteshwar Panchayatan Mandir, which is a Tamilian temple on the banks of Harishchandra Ghat, and the 200-year-old Kumarswamy Matt and Markande Ashram on Kedar Ghat,” he said.

In his speech, Mr. Modi went on to highlight the historical, cultural and civilisational contribution of both Kashi and Tamil Nadu in India’s cultural evolution. “Both Tamil Nadu and Kashi are inspirational sources of art, literature and music. While tannumai is played in Tamil Nadu, tabla is used in Kashi. Banarasi sarees are made in Kashi, while Kanjeevaram silk from Tamil Nadu is well-known worldwide. Both are the birthplace and workplace of the greatest masters of Indian spirituality. Tamil Nadu is the home of Saint Thiruvalluvar’s devotion, while Kashi is the home of Tulsi. One can see the energy of Kashi and Tamil Nadu in every walk of life,” the PM said.

Throwing light on the rich culture of both Kashi and Tamil Nadu, he said, “even today, the relevance of Kashi Yatra comes up during the traditional Tamil marriage procession.” He underlined that the unending love for Kashi from Tamil Nadu signifies the feeling of ‘Ek Bharat, Shrestha Bharat’, which was the way of life of our ancestors.

Mr. Modi said that the Sangamam is a matter of experiencing more than just words and expressed hope in the people of Kashi leaving no stone unturned in providing memorable hospitality to their Tamil guests. Mr. Modi was accompanied by Uttar Pradesh Governor Anandiben Patel, Chief Minister Yogi Adityanath, and Union Minister Dharmendra Pradhan.

Mr. Adityanath welcomed everyone in Tamil by saying, “Ungalai Kashiyil Varaverkirom (Welcome to Kashi).” In his speech, he also mentioned the ancient temple of Lord Vishwanath in Tenkasi, Tamil Nadu. Tenkasi means Kashi of the South. He said that the jyotirlingas in Rameshwaram and Lord Adi Vishweshwar in Kashi are central to the relationship between Tamil Nadu and Kashi.

The month-long Kashi Tamil Sangamam, is aimed at reviving cultural links between Kashi and Tamil Nadu through the depiction of various forms of art and culture. Thousands of guests from Tamil Nadu, from diverse backgrounds like archaeology, history, art, music, yoga, education, literature and Ayurveda, have been invited to visit Kashi for the Sangamam.

Several seminars based on intellectual, cultural, spiritual and artistic subjects are scheduled over the next one month. Apart from this, South Indian music, tradition and art will also be showcased. Cultural programmes highlighting the culture of Tamil Nadu like Meenakshi Chittaranjan’s Bharatanatyam, folk music of Tamil Nadu, Irula and other tribal dances and Villupattu, an ancient musical story-telling, will also be organised.

SLFP to vote against the 2023 Budget

The Sri Lanka Freedom Party has decided to vote against the 2023 Budget.

The vote on the second reading of the 2023 Budget is due to be taken up tomorrow following seven days of debate.

Accordingly, the SLFP Parliamentary group has decided to cast their vote against the Budget proposal that was presented by President Ranil Wickremesinghe on the 14th of November.

Meanwhile, Minister Mahinda Amaraweera has been removed as the General Secretary of the United People’s Freedom Alliance.

The decision was reached by the Central Committee of the SLFP.

Accordingly, the Central Committee decided to appoint Thilanga Sumathipala as the UPFA General Secretary.

SJB decides against supporting second reading of 2023 Budget

The Samagi Jana Balawegaya has decided to cast vote against the 2023 Budget proposal.

The vote on the second reading of the 2023 Budget is due to be taken up tomorrow following seven days of debate.

Earlier today, the Sri Lanka Freedom Party also announced its decision to vote against the 2023 Budget.

The Budget was presented by President Ranil Wickremesinghe on the 14th of November in Parliament.

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Ganesan urges visiting UN Director’s intervention in hill country Tamils’ issues

Tamil Progressive Alliance (TPA) Leader and Samagi Jana Balawegaya (SJB) Opposition MP Mano Ganesan told the visiting United Nations (UN) Department of Political and Peacebuilding Director Peter Due last Friday (18) to take up the political issues of the hill-country Tamils, particularly the inhumane conditions prevalent in the plantations, with the highest echelon of the UN.

Ganesan presented Due the document compiled by the TPA, titled the “Aspirations of Tamil people of recent Indian origin towards mainstreaming as full citizens in Sri Lankan polity” on 18 November.

Ganesan said that he also presented a separate document on the food insecurity and impoverished conditions faced by plantation residents.

“UN special rapporteur on contemporary forms of slavery Tomoya Obokata has already taken up the issues of the plantation sector. I thanked the UN for this initiative. Also the FAO and WFP of the UN have stated that food insecurity in SriLanka is highest in the estate sector at 51%, while it is at 43% in the urban sector and 34% in the rural sector. In addition, the World Bank has reported that the country’s poverty rate has climbed to 26% and it is at 53% in the estates. This shows that the people living in the plantations are the most vulnerable section of the country. But the eyes of the Wickremasinghe Government are yet to open,” he added.

Ganesan also noted: “I insisted that the people of the plantations need a special affirmative action program to overcome this marginalisation and vulnerability. I requested Due to call the development partners of Sri Lanka including the UN to insist that the Government of Sri Lanka implement an affirmative programme and then support its implementation in the plantation sector. If not, such conditions will lead to further political instability and endanger the peace building efforts – the very subject of visiting UN Director Due.”

He also noted that Due and UN Resident Co-ordinator in Sri Lanka Hanaa Singer responded positively.

Along with Ganesan, TPA Deputy Leader Velusamy Radhakrishnan MP and M. Udayakumar MP also participated in the talks.

Speaking to The Morning on 14 November, Ganesan expressed his disappointment in the Budget 2023 speech by President and Finance Minister Ranil Wickremesinghe, claiming that Wickremesinghe’s apparent ignorance has shattered the hopes of hill-country Tamils.

“This has shattered the hopes of our people. We are disappointed at the ignorance of Wickremesinghe on the issues of the plantation sector and the urban poor. The World Bank, the United Nations (UN) agencies, the International Committee of the Red Cross, and the Sri Lanka Red Cross have identified that food insecurity and poverty rates are high in plantations and also amidst the urban poor,” he added.

President Wickremesinghe was expected to announce affirmative action relief plans for these underprivileged segments, but failed in this regard, he claimed.

“If not making the announcement of an immediate relief programme, Wickremesinghe could have acknowledged the issues in his speech. Hence, the suffering people would be hopeful and relieved that the Government of the day is aware of their sufferings. But this ignorance kills the most vulnerable people more than anything,” he added.

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Delegation to visit S Africa to study Truth Commission

Sri Lanka will send a delegation to South Africa soon, to gain complete knowledge on its Truth Commission, in a bid to resume a similar process in Sri Lanka.

President Ranil Wickremesinghe informed President Cyril Ramaphosa that he will send a delegation from Sri Lanka to South Africa to gather the necessary knowledge for the establishment of the Office of Truth and Reconciliation.

South African President Ramaphosa promised to provide the necessary support for the re-establishment of the Office of Truth and Reconciliation.Ramaphosa has also said he is willing to lend his support to the establishment of the Office of Truth and Reconciliation.During the Good Governance Government in 2015, Wickremesinghe the then-Prime Minister and current President, proposed the establishment of a Truth and Reconciliation Office to foster long-term harmony among communities.

The goal of this office is to present the necessary proposals to create harmony among the communities in this country, similar to how South Africa ended the black and white divide.A discussion about establishing a Truth and Reconciliation Office took place at the Katunayake Air Force Base last Thursday.

Ramaphosa visited Sri Lanka to take a short break before returning to South Africa following the G20 Summit.

Private member’s motion on King Ravana

SJB Matara District MP, Buddhika Pathirana, has submitted a parliamentary motion enabling “a systemic study” about King Ravana on whom there is no “specific historical information.”

The MP, in the motion listed in the latest Addendum to the Order Book of Parliament, says that such a study would help “unveil a hidden period of time in Lankan history”. He also hopes that the study would be able to find “the knowledge that King Ravana possessed” and that ancient wisdom could be used to uplift the country from its present predicament.

The proposal tentatively listed for the presentation in the House as a Private Member motion on Dec 09, under the title ‘Conducting a systematic study about King Ravana’, says :

“That this Parliament resolves that a study should be conducted about King Ravana through a panel of experts due to the fact that a study on King Ravana enables to unveil a hidden period of time in Sri Lankan history, and use the knowledge that King Ravana possessed for the uplifting of the country and enhance the attitudes in the country about him, even though specific historical information about him is not available.”

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Stock market indices suffer over 7% dip

The Colombo stock market suffered an over 7% dip this week as investor sentiment remained beleaguered on account of macro issues.

The benchmark All Share Price Index (ASPI) declined by 7.1% and the active S&P SL20 fell sharper by 7.7% during the week. In the previous week the dip was negligible at 0.8% and 0.2% respectively.

Daily turnover averaged at Rs. 1.3 billion marginally higher than Rs. 1.2 billion last week.

Yesterday S&P SL20 fell by 3.2% and the ASPI by 2.7%. Turnover improved to Rs. 1.4 billion involving 49.4 million shares.

Asia Securities said the market closed in the red for a fifth session, with the ASPI nearing the 7,800 level. Following market open, the index trended downwards throughout the session to close at 7,818. EXPO (-22 points) led the decline in the ASPI, followed by RICH (-13 points), VONE (-11 points) and LIOC (-11 points).

Turnover benefited from significant contribution from block trades executed in CDB and RCL (22.7% of turnover). EXPO, LIOC and SLTL were also among the top contributors to market activity. Market breadth was negative with 23 counters gaining and 174 closing down.

Asia said net foreign inflow was Rs. 94.9 million. Net foreign buying topped in EXPO at Rs. 32.3 million and selling topped in PLC at Rs. 0.9 million.

First Capital said the ASPI broke the psychological level barrier of 8,000, triggering margin calls amidst the inflating selling pressure. Index plunged deeply into the red zone and continued to tumble while falling to a 3 ½ -month low of 7,818, losing 217 points.

Investors were compelled to set on a selling spree on EXPO which traded at its lowest market price since Apr 2022, while LIOC dragged down further amidst the fall in global oil prices. Through off-board, 0.4% stake of RCL (400.0 million shares) changed hands at Rs. 28.0 per share while 1.5% stake of CDB.N (1.1 million shares) was traded at Rs. 200 per share.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as Expolanka Holdings, Richard Pieris & Company and Vallibel One.

It said high net worth and institutional investor participation was noted in Royal Ceramic and Citizens Development Business Finance. Mixed interest was observed in Expolanka Holdings and Lanka IOC whilst retail interest was noted in Sri Lanka Telecom and Browns Investments.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

The Capital Goods sector was the top contributor to the market turnover (due to Royal Ceramics) whilst the sector index lost 2.64%. The share price of Royal Ceramics moved down by Rs. 1.10 (3.79%) to close at Rs. 27.90.

Diversified Financials sector was the second highest contributor to the market turnover (due to Citizens Development Business Finance) whilst the sector index decreased by 2.03%. The share price of Citizens Development Business Finance gained Rs. 24.50 (13.96%) to close at Rs. 200.

Expolanka Holdings, Lanka IOC and Sri Lanka Telecom were also included among the top turnover contributors.

The share price of Expolanka Holdings decreased by Rs. 10.25 (7.71%) to close at Rs.

122.75. The share price of Lanka IOC recorded a loss of Rs. 9.25 (5.33%) to close at Rs. 164.25. The share price of Sri Lanka Telecom declined by Rs. 5.60 (7.36%) to close at Rs. 70.50.

Basil Rajapaksa returns

Founder and National Organiser of the Sri Lanka Podujana Peramuna former Minister of Finance Basil Rajapaksa has returned to the country.

Basil Rajapaksa arrived at the Katunayake International Airport a short while ago.

A large number of SLPP members including Parliamentarians were at the BIA this morning to welcome the former Minister.

Political sources say that Basil Rajapaksa, who spent more than one month in the United States, will resume his political activities after returning to Sri Lanka.

Basil Rajapaksa is credited for the landslide victory secured by the SLPP during the last Presidential and Parliamentary Elections.

The SLPP is unofficially spilt into several groups at present and Rajapaksa could well play a part in reuniting the party which holds the majority in Parliament.

SLPP to support 2023 Budget unconditionally

Chief Government Whip, Minister Prasanna Ranatunga says that the Sri Lanka Podujana Peramuna (SLPP) has decided to unconditionally support the 2023 Budget.

The SLPP will provide the maximum necessary support to recover from the economic crisis the country is currently facing, the minister said.

Speaking to the media following an event held in Katunayake, Minister Ranatunga pointed out that the SLPP has not presented any conditions regarding their support to President Ranil Wickremesinghe.

The SLPP will work together with the President who was elected with the full support of the party, he added further.