Category: Breaking News

The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing.

The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable.

Eligibility for concessional resources among the developing member countries of ADB is based on gross national income per capita and creditworthiness.

ADB’s decision was considered based on a request from the Government of Sri Lanka in view of the severe and unprecedented economic crisis that has reversed hard-won development gains.

“ADB is committed to further enhancing its support for the people of Sri Lanka as the country responds to this deep crisis that has severely undermined their livelihoods and well-being,” said ADB Director General for South Asia Kenichi Yokoyama.

“The availability of concessional assistance will help Sri Lanka to lay the foundation for economic recovery and sustained, inclusive growth” added Kenichi Yokoyama.

Sri Lanka is now eligible for ADB support including concessional and market-based financing, technical assistance, policy advice, and knowledge solutions that together comprise a comprehensive suite of options to address the crisis. Access to concessional financing will also ease debt servicing pressures through more favorable lending terms.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members 49 from the region.

The government has signed an agreement with United States based RM Parks Inc. in collaboration with Shell PLC for a long-term contract to enter the Sri Lanka petroleum business today.

The contract agreement was signed at the Presidential Secretariat for the importation, storage, distribution and sale of petroleum products in Sri Lanka.

The agreement was signed following the recommendations of the Cabinet appointed Special Committee.

Power and Energy Minister Kanchana Wijesekera said RM Parks will be the 4th supplier to enter the domestic market and they will operate under the Shell branding.

They signed a 20-year agreement to import, distribute & sell petroleum products through 150 fuel stations allocated from Ceylon Petroleum Corporation (CPC).

The Minister said approval was also granted for 50 new fuel stations to be established islandwide.

They will upgrade the fuel stations with new automated dispensers, electric charge stations, mini markets and cafes, he said.

State Minister of Finance Ranjith Siyambalapitiya has confirmed that import restrictions on 300 products will be lifted by the weekend.

Speaking in Parliament, State Minister Siyambalapitiya said accordingly the number of items subject to import restrictions will be reduced to 1,216.

The State Minister said the government was compelled to take difficult and unpopular decision due to the economic crisis.

He noted that the public is now gradually reaping the rewards of those decisions. State Minister Siyambalapitiya also acknowledged that small- and medium-scale enterprises were affected due to import restrictions.

He said now the restrictions are being eased gradually while steps have also been taken to reduce interest rates.

The State Minister noted that such measures will help economic activity.

Having handed over the manifesto of the Eksath Janaraja Peramuna to Election Commission Chairman Nimal Punchihewa, yesterday (06) at the Election Secretariat, Rajagiriya, its leader MP Patali Champika Ranawaka said that the Local Government polls couldn’t be postponed any further on the false declaration that the incumbent administration lacked funds.

The former Minister said that the expenditure on government events in the recent past showed that the money was no longer an issue.

Pointing out that the electoral registers would be updated in July this year, lawmaker Ranawaka said that conducting Local Government polls in terms of the old electoral registers was a matter for concern. The MP urged the government to conduct LG polls before the revision of electoral registers or call fresh nominations if the election was to be held after July.

Lawmaker Ranawaka said that they were strongly opposed to a controversial move to appoint former heads of Local Government authorities to supervise them instead of conducting the election

MP Gajendrakumar Ponnambalam, who was arrested over allegations of obstructing police duties, has been granted bail by the Kilinochchi Magistrate’s Court.

The Jaffna District MP, who represents the Ahila Ilankai Thamil Congress (AITC) or the All-Ceylon Tamil Congress in the parliament, was taken into custody by a team of officers attached to Maruthankerny Police at his residence in Colombo this morning (June 07) for being complicit in obstructing the duties of police officers and verbally abusing them during a recent incident in Vadamarachchi.

A video of the incident which went viral on several social media platforms showed a heated exchange of words between the MP and several officers, believed to be attached to the Jaffna Police, while Ponnambalam was engaging with area residents.

The tense situation had ensued when the police officers asked MP Ponnambalam to call off his public meeting at the Thalaiyadi playground, in consideration of the students sitting for the Ordinary Level examination at the nearby Thalaiyadi Roman Catholic Mixed School.

Meanwhile, after taking into account a request made by the police, the Kilinochchi Magistrate’s Court had yesterday issued an overseas travel ban on the parliamentarian.

An overseas travel ban was imposed on MP Gajendrakumar Ponnambalam today (June 06), on the orders of the Kilinochchi Magistrate’s Court.

The Jaffna District parliamentarian, who represents the All Ceylon Tamil Congress or Ahila Ilankai Thamil Congress (AITC), is accused of his complicity in obstructing the duties of police officers and verbally abusing them during a recent event in Vadamarachchi.

Soon after the incident, MP Ponnambalam was asked to record a statement with the Maruthankerny Police on Monday (June 05). However, he has failed to appear before the police, citing a parliamentary meeting in Colombo.

Thereby, Sri Lanka Police had presented facts related to the matter to court on Monday.

Taking to Twitter this afternoon, MP Ponnambalam said the Kollupitiya Police served him a written notice, asking him again to appear before the Maruthankerny Police, which he refused to accept as he can neither read nor speak in Sinhala. “The subsequently read it to me in Sinhala saying that all they needed to do was to inform me.”

The parliamentarian says the Kollupitiya Police officers then proceeded to ask him to produce himself at the Maruthankerny Police at 10.00 a.m. on June 08.

On Sunday (June 04), Minister of Public Security Tiran Alles had called for a detailed report on the recent heated situation involving the All-Ceylon Tamil Congress leader and a group of police officers in Jaffna.

Accordingly, the minister stated that the Senior Deputy Inspector General (SDIG) of Police of Jaffna had been informed to provide a special report on the incident as soon as possible.

A recent video circulated on several social media platforms showed a heated exchange of words between the MP and several officers, believed to be attached to the Jaffna Police, while Ponnambalam was engaging with area residents.

The tense situation had ensued when the police officers asked MP Ponnambalam to call off his public meeting at the Thalaiyadi playground, in consideration of the students sitting for the Ordinary Level examination at the nearby Thalaiyadi Roman Catholic Mixed School.

Meanwhile, the female organizer of the Tamil National People’s Front (TNPF) was remanded until Wednesday (June 07) after being produced before the Kilinochchi Magistrate’s Court earlier today.

She was arrested on Monday, along with a man, on charges of obstructing the duties of police officers.