Category: Daily Financial Times

Calls for National Investment Facilitation Authority and Digital Land Bank to attract FDI

Proposes National Green Energy Fund and Govt.-backed Green Bonds to accelerate renewable transition

Seeks SME Export Fund, tax holidays and concessional loans to boost small exporters

Urges unified tourism branding and infrastructure fund to promote high-value, experiential travel

OPA President Sujeewa Lal Dahanayake

The Organisation of Professional Associations (OPA) has submitted a comprehensive set of proposals for the 2026 National Budget, outlining measures to strengthen fiscal stability, revive growth, and ensure equitable development. The recommendations, representing the views of 52 professional bodies and over 60,000 members, were presented to Treasury Secretary Dr. Harshana Suriyapperuma following consultations with a multidisciplinary committee appointed by the OPA.

The OPA proposal document is as follows:

Background

President Anura Kumara Disanayake, presenting the maiden Budget of the National People’s Power (NPP) Government last February, stated: ‘A Budget is not just a set of revenue and expenditure proposals for the upcoming year, it is also a reflection of the Government’s approach to building the economy and overall policy.’

Taking a cue from this perspective, the OPA appointed a Committee of its members with multidisciplinary expertise.

The proposals formulated by the Committee were presented to Treasury Secretary Dr. Harshana Suriyapperuma on 12 September. The OPA delegation had a cordial, constructive consultation with the Secretary. These proposals reflect viewpoints of 52 professional associations, 34 disciplines, and over 60,000 professionals of the OPA.

Objective

The Budget proposals were formulated with the aim of reaching the following Government priorities.

Stability – meeting International Monetary Fund (IMF) and fiscal targets.

Growth – revive stalled mega projects, enhance exports, enhance employment opportunities, and increase national productivity.

Equity – integrate people as participants and beneficiaries of the growth process while protecting vulnerable groups, reducing rural-urban disparities, and ensuring inclusive access to health, education, and nutrition.

Proposals

Foreign Direct Investment promotion

Establish a National Investment Facilitation Authority (NIFA) as a one-stop shop to fast-track the approval process within 60 days.

Establish a Digital National Land Bank (GIS-based) to identify lands for industry, tourism, agribusiness, and energy.

Launch ‘Invest Sri Lanka 2030’ campaign targeting renewable energy, manufacturing, technology, export promotion, tourism infrastructure, and agribusiness.

Enhance investor aftercare services with a dedicated Investor Relations Cell and annual CEO Roundtables.

Divestment of vested and unutilised assets

Establish a high-powered national enterprise within the Finance Ministry to divest, vest, acquire, and/or unutilised public property; divest assets of defunct financial institutions and distribute proceeds to cover statutory payments due and to settle depositor invested funds.

Tourism development

Develop a 10-year unified branding strategy positioning Sri Lanka as a high-value, must-visit, experiential destination with a targeted marketing plan and a campaign.

Establish a Special Tourism Infrastructure Fund for connectivity, premium visitor facilities, sustainability development, and luxury tourism infrastructure.

Implement a Tourism Skills Accelerator Program and a National Tourism Quality Standards Certification.

Shift policy focus from arrivals to yield: set spending-per-tourist targets and promote wellness, Meetings, Incentives, Conferences and Exhibitions (MICE), yachting, and cultural tourism.

Convert underutilised Government buildings for tourism accommodation and recreation using Public Private Partnership (PPP) models.

Expand the tourism value chain to trickle down benefits to rural communities.

Develop wellness tourism and community-based tourism programs.

Agriculture

Develop an e-database of underutilised land with potential for agriculture.

Consolidate small agricultural plots through the concept of cooperative/collective farming.

Develop economic centres with cold storage facilities.

Expedite the process of mechanisation to overcome the labour issue.

Provide incentives to encourage universities and research institutes for pragmatic research on value additions in agriculture and livestock development.

Revisit Free Trade Agreements (FTAs) with emphasis on seeking additional quotas for agricultural products.

Health

Promotion of primary preventive healthcare system and wellness programs jointly with Western medical facilities and indigenous Ayurveda-based drugs, therapies, immunity, and patient care.

Establish an educational training and research hub for pharmaceutical manufacturing and quality testing of medicine.

Exempt local pharmaceutical manufacturers from payment of VAT or provide a rebate on VAT payment.

Export-based Small and Medium Enterprises (SMEs)

Create an SME Export Development Fund to provide concessional loans.

Grant a five-year tax holiday for new SME exporters.

Subsidise costs of international certifications and at State labs i.e, ITI.

Build a national export information platform and SME Export Portal.

Support logistics with railway-based cargo services and SME export hubs.

Strengthen training facilities for SME Exporters to enhance capacity and market access.

Entrepreneur training

Introduce practical entrepreneur training facilities at Government skills development centres such as the Vocational Training Authority (VTA), to familiarise with banking practices, bankable project preparation, and market potential before embarking on a business venture.

SME for migrant employment returnees

Returnees after serving a period of more than two years as migrant employees to be provided concessionary loan facilities to cover up to 50% of the investment required for an SME project.

Prevention of road accidents

The financial and human cost and loss caused by road accidents is immense and on the increase. At present, errant drivers are punished and imposed with penalties. The OPA proposed the introduction of a reward scheme for the topmost police divisions that control traffic offenses to a lesser number, resulting in fewer accidents. The rewards will be considered on a monthly, quarterly, biannual, and annual basis.

Suitable criteria to ensure the commitment required from each Police division are based on the number of registered vehicles within a district. Insurance companies can share the cost and partner in this scheme, as they will be a beneficiary of a lesser number of road accidents.

‘Prajashakthi Program’: Integration with national economy

Establish links between the Prajashakthi Program and the national economy to create employment and income generation opportunities in the periphery. This can be achieved by bringing local authorities, Samurdhi Banks, and industries located in the periphery i.e, garment factories, into the program as they are connected to the national economy.

Revival of rural industry

There are many traditional, local, and cottage industries in rural areas. They face issues in accessing information, raw materials, markets, financial assistance, technology, design, etc. They are location-specific. The OPA proposed that the Industries Ministry, with organisations under its purview, draw up a program together with Prajashakthi Program to identify issues and build up linkages and access required by these industries.

Integrated extension service

There are extension arms under many Government agencies. They are scattered, fragmented, and working in isolation. An extension officer in each agency visits rural areas with a package relevant to his or her organisation. People need a single integrated set of recommendations. The OPA proposed to bring all extension arms of different agencies under a single umbrella and establish an integrated extension service.

Green energy transition

Heavy reliance on fossil fuels undermines energy security and climate goals. Renewable energy investments face approval delays, financial barriers, and a lack of incentives, despite strong solar, wind, and hydro potential.

Establish a National Green Energy Fund with blended finance

Provide feed-in tariff guarantees and fast-track approvals for renewable projects.

Issue Government-backed Green Bonds to finance renewable infrastructure.

Promote rooftop solar through subsidies and concessional loans for SMEs and households.

Link green energy adoption with industrial parks and launch a Green Skills Accelerator.

Secure green energy-based funding to assist in the installation of storage batteries.

Ensure getting carbon credits for renewable energy.

Way forward

The OPA did not make proposals related to the sectors of education and digitalisation as the Government is progressing with comprehensive programs, at present.

Success in implementation of the proposals necessitates: Prioritisation through a phased roadmap, governance safeguards and independent audits, comprehensive equity-focused, and the efficient delivery by the public sector.

The absence of the aforesaid matters being addressed poses a risk of perpetuating a cycle of under-delivery and over-ambition. Further, stringent execution capabilities, transparent safeguards, and a thorough evaluation of incentives relative to revenue requirements must be in place.

Former Royal, CR and FC, and national player Pavithra Fernando was appointed as the President of Sri Lanka Rugby (SLR) at their Annual General Meeting (AGM) yesterday.

Former Antonian and CR and FC rugby player Shanitha Fernando was appointed as the Deputy President, while former Thurstan and Air Force rugby player Subash Jayathilake will be the Secretary of SLR.

Former Police skipper Chinthaka Perera took over the Vice President’s post.

Office bearers for 2025/2026:

President Pavithra Fernando; Deputy President Shanitha Fernando; Vice President Chinthaka Perera; General Secretary Subash Jayathilake; Treasurer Neomal Ekanayake; Female Representative Thilini Rangani, and Athlete Representative Stephan Gregory.

The JVP-NPP’s Goebbelsian lie of a 76-year-old, post-Independence ‘curse’ and a Sri Lankan ‘renaissance’ under AKD, collapses in the domain of foreign policy and international relations.

Apologists for President Anura Dissanayake’s surreal foreign policy, a major deviation from the mainstream of Sri Lanka’s external relations tradition, view that policy through a pair of rose-tinted lenses: Both lenses are cracked. Firstly, Anura did not try to secure his new administration and the country any countervailing capacity (he avoided BRICS Plus) or wiggle-room for renegotiation. The ‘structural constraints’ are tighter because of his choice of complete conformity, continuity and compliance. Secondly, ‘hedging’ would be making the Tianjin SCO summit and the Tokyo trip, not avoiding the first while doing the second.

With episodes of erroneous exceptions, Sri Lanka’s foreign policy practice has been actively participatory and its discourse reformist, seeking to raise our profile and secure space while collectively striving to reform the international system so as to gain a better, fairer deal for countries like ours.

AKD has abandoned that ‘great tradition’. Connect the dots and you’ll see that his preferential option is to inhabit a triangular cage: India-Japan-Israel.

For the first time since 1948, foreign policy isn’t rooted in a calculus of the interests of the Sri Lankan State by its elected leadership, but is the product of the interface of initiatives by a few top corporates and interests of the ruling JVP-NPP. This new oligarchy determines our foreign relations. Internationalism of the intellect

Sri Lanka must understand the complex and fluid – ‘kaleidoscopic’ (Mervyn de Silva)- character of the changes taking place in the world system and order, so as to decide how this small but strategically located island must navigate so as to defend, manage and advance its national interests.

Our greatest foreign minister Lakshman Kadirgamar was well aware of this. In 2005, the last year of his life, he founded a journal of which he was the Editor-in-Chief, entitled International Relations in a Globalizing World (I was a member of the Editorial Board) precisely because he understood the need for a conceptual grasp of global affairs for the formulation of foreign policy.

Kadirgamar belonged to an elite with a tradition, namely the ‘internationalist’ generation of the post-Independence Ceylonese intelligentsia which among other things, established the prestigious, non-state, non-corporate Ceylon Institute of World Affairs (co-founded/re-founded in the 1960s by Maj-Gen Anton Muttucumaru and Mervyn de Silva).

What is most lacking in the current Sri Lankan discussion on world affairs is the analytical starting point of totality, i.e., beginning with a grasp of global or world-system dynamics and contemporary history. Instead, personal, partisan and parochial factors determine the interpretation of the global.

Hegemony vs. Multipolarity

Current history is characterised by the striving of the Western powers to maintain their hegemony in the world system and restore the unipolarity of the post-Cold War moment, at a time the world system and order are increasingly multipolar. The West strives to hold the East and South in check, while the US attempts to restore its dominance within the West and over the world order while dramatically reordering its own domestic social contract.

The West’s project is global counterreformation, even counterrevolution. It is a struggle between two tendencies i.e., US/Western hegemonism vs. global multipolarity, which point in two directions, i.e., return to West-centrism vs. evolution to multipolarity.

It is a contest between a conservative or reactionary project (however ideologically liberal many Western players may be) of the maintenance of the current extent of Western dominance or a rollback to post-Cold War unipolarity, and the revisionist/reformist project (however ideologically conservative the Eurasian players) of a multipolar and therefore more balanced, pluralist, democratic, world order.

Sri Lanka’s stance

Sri Lanka must have a clear sense of where its most fundamental interests lie, and base its way of being in the (dynamically evolving) world accordingly. While rooting ourselves firmly, we must also have our ‘heads on a swivel’, aware of everything that’s happening, spotting possible dangers, advantages and opportunities. Sri Lanka must have a firm ‘Grand strategic’ stance, while having flexible tactics.

What must that firm ‘Grand strategic’ stance be and derive from? It must be rooted in reality; the geopolitical and existential reality of who, what, where we are (as Mervyn de Silva insisted).

Sri Lanka is located in –belongs in -the Global South and therefore belongs to the Global South. Some of our politicians may have delusions to the contrary, but this is the ineluctable reality. Therefore, one of the axioms of our foreign policy must be to identify ourselves with the Global South and leverage the benefits of belonging to it.

Sri Lanka is located in Asia. Therefore, it must identify itself with Asia in particular and Eurasia in general.

A small island state, Sri Lanka should associate itself with the Global South and Eurasia, which contain the overwhelming majority of humanity as well as of the member states of the United Nations.

Covid-19 and Trump tariffs have shown us that supply chains can be blocked, external markets are elastic and therefore cannot determine our foreign policy.

Our foreign policy must reflect our identity and serve our long-term interests. We must stand with whom we share a broad identity, basic ideas and interests.

Though the foundational positioning of Sri Lanka must be within the Global South/Eurasia, we mustn’t perceive or project ourselves as ‘anti-West’ because we have something fundamental which we share with the West, and almost certainly more with the West than the East, while there is something fundamental we share with the East, and much more with the East than the West.

Ceylon/Sri Lanka is the oldest multiparty democracy in Afro-Asia. We fought two civil wars to protect and preserve that competitive, pluralist civilian democracy from the totalitarian left, and we won while never permitting dictatorship of the right or the military. In this, Ceylon/Sri Lanka has a better record than much of the Global South and parts of Europe.

No monolith, the West is also the home of dynamic progressive popular mobilisations in solidarity with just causes in the global South. While the diplomatic support for Palestine in the UN Security Council comes from the East, the mass protests against the genocide in Gaza come from the West and the South. The genocide case in the ICJ is from the South and North. A Palestinian state and peace with/for Iran will only come with a progressive Democrat in the White House. If Democratic Party candidate Zohran Mamdani, a committed ‘democratic socialist’, supporter of Palestine, child of parents from the global South, wins the New York mayoralty in November, it will shine a light for all progressives globally. Thus, Sri Lanka must never be anti-West. It must be internationalist.

Our fundamental interests and values intersect with both the West/North (pluralist democracy) and the East/South (independence, sovereignty). We need both sets of values. We cannot be aligned against the North/West or the South/East.

However weak the Nonaligned Movement today, the doctrine, the principles of Nonalignment remain the most suitable for Sri Lanka.

‘Committed to the hilt’

Sri Lanka must neither be ‘uncommitted’ nor ‘equidistant’. A year after the Bandung Conference (1955) and six years before the founding in Belgrade of the Nonaligned Movement (1961) with Ceylon’s Sirimavo Bandaranaike as a founding member, Prime Minister SWRD Bandaranaike addressed the 11th UN General Assembly and rejected the definition of ‘uncommitted nations’ to describe those who subscribed to the Bandung principles. In a memorable turn of phrase, he roared that ‘we are committed to the hilt.to justice and freedom.’.

SWRD Bandaranaike was hardly equidistant when he faced a dilemma while addressing the UNGA: the twin crises in Egypt and Hungary. In Egypt it was the joint Israel-UK-France invasion and seizure of the Suez Canal after President Gamal Abdel Nasser had nationalised it. In Hungary it was the intervention by Soviet troops to suppress an anti-Soviet uprising in Hungary (perceived as fomented by the CIA) and prevent Hungary’s probable exit from the Warsaw Pact.

Bandaranaike spoke at far greater length and placed far heavier emphasis on the Suez crisis than on Hungary. Affirming Nasser’s right to nationalise the Suez Canal, he condemned the Israeli-Anglo-French invasion and seizure of the Canal. Objecting to a gradual, incremental withdrawal, he demanded that ‘Those forces must now be withdrawn without delay…now!’

Referring to ‘the Hungarian episode’, he supported that part of the Resolution calling for the withdrawal of Soviet troops but opposed the call for ‘free elections under UN auspices’ as a violation of national sovereignty.

‘Are you surprised that we lay greater emphasis on Egypt than on Hungary?’ asks SWRD Bandaranaike in his UNGA speech. He explains: ‘we of Asia.have undergone two or three hundred years of colonialism’ and are more sensitive to anything that smacks of colonialism by ex-colonial powers.

To Bandaranaike’s rationale, I would add four reasons why we should privilege the North-South axis rather than the East-West axis, and should not tilt to the North against the South (as JR did catastrophically on the Falklands/Malvinas), or the West against the East.

i. As in Latin America and East Asia, political regimes such as right-wing dictatorships can be overthrown and democracy restored. But former Yugoslavia (where the NAM was founded) and several Arab and African countries prove that once a state is divided or disintegrated, it is almost never fully reunified, repaired, restored. On national independence, sovereignty, territorial unity and integrity, and opposition to secession, it is the global East and South that stand firm, while the West/North is sympathetic to or permits the activities of separatists (Canada and India’s Khalistanis, Sri Lanka’s Tigers).

ii. The vision of the Global South and Eurasia (BRICS, SCO etc.) of a multipolar world order, more equitable globalisation and multilateral diplomacy, is far more compatible with the interests of Sri Lanka than the US-led West’s hierarchical, hegemonistic vision of unipolarity (often coupled with unilateralism).

iii. It is far safer for a small state like Sri Lanka to prioritise its relationships with multilateral groupings containing the majority of the world’s populace and the world’s states, than to be dependent either upon the West/North which contains electorally consequential ethnic lobbies, or upon neighbours with ethnic kin-states/enclaves (e.g., Tamil Nadu) sympathetic towards secessionists, secessionism or annexation.

iv. The demographic weight of Eurasia and the Global South, taken together with the economic and military power of China and the nuclear power of Russia, bring balance into the world, shifting the needle towards ‘Global Equilibrium’ (Simon Bolivar, Jose Marti) which is in the interests of countries like Sri Lanka.

Pinnacle to puddle, eagle to poodle

Putting to shame those pundits who advocate a poodle-like foreign policy for Sri Lanka because of economics, it must be recalled that SWRD Bandaranaike, the first leader of this country to address the UNGA and the world through it, presented a passionate, self-confident vision not because Ceylon was big, rich or strong. ‘My country is a small one, a weak one, a poor one’ he admitted honestly, but that hardly prevented him from declaring that Ceylon and the ex-colonial countries represented at the Bandung Conference were ‘committed to the hilt!’. Indeed, Ceylon’s reality was propellent not preventive for him to articulate the assertive foreign policy doctrine that he did.

Bandaranaike self-confidently conceptualised the challenges facing Ceylon in all their complexity, and did so while locating them in world history as it was unfolding.

‘.At this epoch of newly gained freedom, we find ourselves faced with a dual problem. A problem within a problem. First, the problem of converting a colonial society, politically, socially and economically, into a free society-and the problem of effecting that conversion against a background of changing world conditions.

The world itself is in a state of change and flux today. The world is going through one of those rare occasions that happen in certain intervals of a changeover from one society to another, from one civilisation to another. We are living today in fact in a period of transition between two civilisations, the old and the new. At a period like this, all kinds of conflicts arise-ideological, national, economic, political; every kind of conflict. It has done so in the past. In the past they were settled by some nice little war here or there. Today we cannot afford the luxury of war, for we all know what it means. So, the task for us today is a far more difficult one than ever faced mankind-to effect this kind of transition to some form of stable human society and to do it amid a welter of conflict, with reasonable peace; with the avoidance of conflict that bursts out into war, for war is unthinkable today.

.We in Asia.we like to get something, some ideas, some principle from this side, some ideas from the other, until and unless a coherent form of society is built up that suits our own people, in the context of the changing world of today. That is why we do not range ourselves on the side of this power-bloc or that power-bloc.It is not sitting on the fence. It is a position that is inexorably cast upon us by the circumstances of the day.’

(https://www.youtube.com/watch?v=Ipy8NSGxhTQ)

Winding up his speech, SWRD Bandaranaike went on the offensive:

‘.We are supposed to be uncommitted? I strongly object to that word, ‘uncommitted’! We are committed up to the hilt, believe me! We are committed to preserve decency of dealings between nations. We are committed to the cause of justice and freedom, as much as anyone…’

Unlike SWRD, AKD expressed no ‘commitment’ in his UNGA speech to any principle, concept, value, idea-still less one of a universal, transformational character. SWRD enunciated a foreign policy doctrine for Asian and ex-colonial countries in a new, complex global and historical situation. AKD preferred instead, a superficial and shallow presentation of Sri Lanka’s situation. He presented no perspective on current global changes as SWRD did, probably because he had none to offer.

The almost antinomian SWRD/AKD contrast isn’t sourced in Bandaranaike’s linguistic-oratorical advantage, because AKD addressed the UNGA in Sinhala. It is sourced in an asymmetry of intellect, a contradiction of consciousness.

One of the ‘Children of ’56’ (Mervyn de Silva’s coinage, South Asian Review 1972) and leader of a self-professedly Marxist left party, President Anura Dissanayake’s UNGA speech was thin, hollow, vapid, instantly forgettable; incomparable and incompatible with the indelibly memorable, principled, courageous, visionary speech by SWRD Bandaranaike from the same rostrum.

JVP-NPP ideologues would sneer and splutter ‘that was a different era’, but AKD’s discourse also bore no resemblance whatsoever to that of Colombia’s Gustavo Petro, Chile’s Gabriel Boric and Brazil’s Lula at the UNGA this year.

LOVI Ceylon, in collaboration with Events by Shero and Cinnamon Grand Colombo, hosted a heartfelt send-off dinner in honour of Sri Lanka’s national women’s cricket team ahead of their participation in the ICC Women’s World Cup.

The celebration was held at the Atrium of Cinnamon Grand Hotel, Colombo, on the eve of the tournament’s commencement across Sri Lanka and India.

The evening was marked by elegance, pride, and national spirit as players, coaches, and key stakeholders gathered to acknowledge the commitment and excellence of the women’s team. Attendees included representatives from Sri Lanka Cricket, LOVI Ceylon, and well-wishers from across the community.

As part of the celebration, LOVI Ceylon unveiled the ceremonial attire designed exclusively for the team’s international appearance. The custom designs are a continuation of the brand’s mission to define a contemporary Sri Lankan fashion identity and honour national pride through modern craftsmanship. The brand has previously styled the national squad for global platforms including the Olympics in Tokyo and Paris.

The send-off event opened with a welcome address by LOVI Ceylon Founder Asanka de Mel, followed by a traditional blessing and cultural performance to wish the athletes success. The ambiance of the Atrium was transformed into a tribute to the strength, determination, and grace of Sri Lanka’s finest women cricketers.

Asanka de Mel said: ‘Each of these athletes, their families and coaches have toiled for more than a decade or more to get to this level. They bring glory to Sri Lanka. We wanted to honour them, celebrate them, and wish them success. Our Women. Our World Cup.’

The event not only celebrated athletic excellence but also stood as a testament to the growing recognition of women’s sports in Sri Lanka. Through the collaboration, LOVI Ceylon underscored its commitment to amplifying national moments and representing Sri Lankan heritage on global stages.

‘I am grateful to Sri Lanka Cricket for this opportunity and the truly amazing event partners Ramani Fernando Salons, Dimitri Cruz Photography, Impress Events, Events by Shero and Cinnamon Grand Hotel for their support and magic,’ Asanka added.

The atmosphere of unity and pride echoed throughout the evening, reinforcing the collective aspiration of the nation behind the women representing Sri Lanka on the international stage.

As Sri Lanka prepares to co-host the prestigious ICC Women’s World Cup, this gesture by LOVI Ceylon and its partners sets a powerful tone of encouragement and national solidarity.

LOVI Ceylon, based in Colombo, is a contemporary Sri Lankan fashion brand founded by Asanka de Mel. Dedicated to defining a modern Sri Lankan identity through design, LOVI offers handcrafted garments using natural materials. Each creation is a celebration of cultural heritage, artistry, and innovation, made to empower individuals to wear their pride anywhere in the world.

Prime Minister and Education, Higher Education, and Vocational Education Minister Dr. Harini Amarasuriya told Parliament yesterday that the Government aims to make all teachers degree holders as part of ongoing education reforms.

Speaking during the parliamentary debate on education sector changes, she said teacher training colleges had seen little reform in decades and required both structural and curriculum upgrades. ‘This is not just a matter of funding – there has been insufficient focus on how these institutions function,’ she noted.

Dr. Amarasuriya said a new curriculum will be introduced this year to align teacher training with national education reform goals. ‘Our priority is to produce teachers who meet the real needs of the country. We are already training both current trainees and those involved in teacher education,’ she said.

She added that the government’s long-term goal is to elevate all teacher training colleges to degree-awarding institutions. ‘At present, only the Kuliyapitiya Teacher Training College grants degrees. We plan to raise the remaining 19 colleges to that same level,’ the Prime Minister said.

Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa has urged those questioning about the legality of the appointment of Ranga Dissanayake as Director General (DG) of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to seek redress from the Supreme Court.

Addressing the weekly post-Cabinet meeting media briefing, he said that if the selection made by the Constitutional Council was flawed, irregular, and unconstitutional, former Minister Udaya Gammanpila or any other concerned party could go through a legal process to challenge Dissanayake’s appointment.

‘Criticising is of no use when there is a legal process available. I know former Minister Gammanpila is well conversant with the law in this regard,’ he said, questioning the motive behind raising allegations against the CIABOC DG long after his appointment was made.

Dr. Jayatissa expressed his suspicion over the timing of the allegation when the CIABOC had completed several investigations and begun arrests connected to corruption cases.

‘We have doubts whether some parties, including former Minister Gammanpila, are trying to discredit the CIABOC as they have some other interests,’ he said, adding that Government views such efforts as attempts not by those who are against fraud, corruption, and bribery, but only those who want to shield some involved in corruption and bribery.

He said that those who truly stand against fraud and corruption would not attack the CIABOC at a time when it is performing its duties.

Meanwhile, he reiterated the Government’s commitment to upholding the independence of the CIABOC, stressing that investigations into complaints should be carried out promptly and without interference.

Dr. Jayatissa emphasised that while the Government provided facilities and resources to investigative institutions such as the CIABOC and the Criminal Investigation Department (CID), it would not intervene in their operations.

‘If someone makes allegations against an institution like the CIABOC, the best solution is for the DG or the Commission itself to respond, but not the Government,’ the Minister said.

He also said that the Government had full confidence in the officials of the CIABOC as they were performing their duties responsibly and professionally.

According to Dr. Jayatissa, the attempts to level baseless accusations against the CIABOC appeared to be efforts to undermine its ongoing investigations and the best means to challenge the appointment of the CIABOC DG, who has extensive legal experience as a former Magistrate and High Court Judge, was through a legal process.

Answering a question whether there was a lethargy in taking legal actions against those who have corruption charges in the Government, he said all complaints were going through a due legal process.

‘If any allegations have been made against ministers, the CIABOC will continue to investigate them according to its procedures. The Government remains committed to ensuring the CIABOC functions independently and efficiently to strengthen the anti-corruption framework,’ he stressed.

The lone batting effort by opening batter Sangeeth Cooray (62 off 52 balls, 2 sixes, 5 fours) and the splendid spell of leg spin bowling by Sanoj Dharshaka (4 overs, 19 runs, 4 wickets) gave Maliban Biscuits a fighting 14-run win over BBK Partnership, in the ongoing 32nd Singer-MCA Super Premier League T20 Tournament 2025, which continued yesterday at the MCA Grounds.

Earlier yesterday, CDB crushed defending champions Fairfirst Insurance by five wickets; Fairfirst Insurance, trapped on a turning wicket, crashed to a paltry 93 runs in 13.5 overs, having no answer to CDB bowlers Promod Madushan, Tharindu Ratnayake, and Navindu Prabath.

The tournament will continue tomorrow and Sunday, 12 October, with the three remaining matches in the League stage.

Chief scores:

CDB beat Fairfirst Insurance by 5 wickets.

Fairfirst Insurance 93 (13.5) (Kamil Mishara 15, Moditha Ranatunga 33, Sohan de Livera 18, Promod Madushan 2/16, Tharindu Ratnayake 3/23, Navindu Prabath 3/15)

CDB 93-5 (13) (Shevon Daniel 45, Avishka Fernando 20, Dilum Sudeera 2/28, Thanuka Dabare 2/19)

Maliban Biscuits beat BBK Partnership by 14 runs.

Maliban Biscuits 118 (19.4) (Sangeeth Cooray 62, Ranjith Kumar Newton 2/16, Tony Breig 2/16, K. Shayamasunder 3/19, V. Viyaskanth 2/19)

BBK Partnership 104 (18.2) (Santhush Gunatillake 21, V. Viyaskanth 34, Dushan Hemantha 2/15, Sanoj Dharshaka 4/19)

The Asian Infrastructure Investment Bank (AIIB) and the Government of Sri Lanka have signed a loan agreement for the Kerawalapitiya-Port L Second Transmission Line Project, under which AIIB will provide $ 52 million in sovereign-backed financing to help Sri Lanka unlock its renewable energy potential and advance sustainable development.

The project involves the design, supply, constructing, testing, and commissioning of a 220kV single-circuit underground cable system linking the Kerawalapitiya Switching Station to the Colombo Port L Grid Substation.

As the second underground cable on this route, it will complement the first line commissioned in 2019, which will soon be insufficient to meet the projected electricity demand in the Greater Colombo area.

The new transmission line is critical for ensuring uninterrupted power supply, maintaining grid stability, and enabling the evacuation of renewable energy from the northern and eastern regions towards major load centres in Colombo.

Once operational, the project is expected to benefit local communities, urban services, and businesses in the Greater Colombo development area by providing a stable and reliable electricity supply.

It will also directly support the growing power needs of the upcoming special economic zone, while indirectly reducing the risk of major blackouts, delivering considerable economic and social benefits.

This project stands as a strong testament to the deepening partnership between AIIB and Sri Lanka, a founding member of the bank.

So far, AIIB has supported five transformative projects in the country, with a total financing of $ 534 million across the energy, transport, and urban sectors, driving sustainable growth and development.

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing ‘Infrastructure for Tomorrow,’ with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalised at $ 100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilise capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.

The Colombo stock market yesterday dipped largely due to profit taking amidst healthy turnover.

The benchmark ASPI declined by 0.3% and the active S and P SL20 by 0.4%. Turnover was Rs. 7.3 billion.

Foreign investors remained net sellers, recording a net outflow of Rs. 196.2 million.

First Capital said post hitting the 22,000 milestone on ASPI, marked the first day of profit taking, after 15 consecutive days of gains.

While both retail and HNW participation was high, investors have largely realized gains on the Banking sector counters and conglomerates.

BUKI, SUN, DIAL, COMB and CARS were the top contributors to the index.

Banking sector took the lead in terms of sector wise contributions to turnover, with a share of 21%, followed by the Capital Goods sector and Food retailing sector, which produced a combined contribution of 35%. Food retailing sector’s high turnover was underpinned by the increased HNW participation observed in CARG and CTHR.

NDB Securities said high net worth and institutional investor participation was noted in Cargills, C T Holdings and Commercial Bank. Mixed interest was observed in Lanka Credit and Business Finance, John Keells Holdings and Colombo Dockyard whilst retail interest was noted in Kotagala Plantations, Co-Operative Insurance Company and Hela Apparel Holdings.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank) whilst the sector index lost 0.35%. The share price of Commercial Bank increased by 75 cents to Rs. 197.

The Capital Goods sector was the second highest contributor to the market turnover (due to Colombo Dockyard and John Keells Holdings) whilst the sector index decreased by 0.74%. The share price of Colombo Dockyard recorded a gain of Rs. 4.50 to Rs. 134.

The share price of John Keells Holdings declined by 20 cents to Rs. 21.50.

Cargills and C T Holdings were also included amongst the top turnover contributors. The share price of Cargills closed flat at Rs. 750. The share price of C T Holdings moved down by Rs. 1.50 to Rs. 651.

Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa has urged those questioning about the legality of the appointment of Ranga Dissanayake as Director General (DG) of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to seek redress from the Supreme Court.

Addressing the weekly post-Cabinet meeting media briefing, he said that if the selection made by the Constitutional Council was flawed, irregular, and unconstitutional, former Minister Udaya Gammanpila or any other concerned party could go through a legal process to challenge Dissanayake’s appointment.

‘Criticising is of no use when there is a legal process available. I know former Minister Gammanpila is well conversant with the law in this regard,’ he said, questioning the motive behind raising allegations against the CIABOC DG long after his appointment was made.

Dr. Jayatissa expressed his suspicion over the timing of the allegation when the CIABOC had completed several investigations and begun arrests connected to corruption cases.

‘We have doubts whether some parties, including former Minister Gammanpila, are trying to discredit the CIABOC as they have some other interests,’ he said, adding that Government views such efforts as attempts not by those who are against fraud, corruption, and bribery, but only those who want to shield some involved in corruption and bribery.

He said that those who truly stand against fraud and corruption would not attack the CIABOC at a time when it is performing its duties.

Meanwhile, he reiterated the Government’s commitment to upholding the independence of the CIABOC, stressing that investigations into complaints should be carried out promptly and without interference.

Dr. Jayatissa emphasised that while the Government provided facilities and resources to investigative institutions such as the CIABOC and the Criminal Investigation Department (CID), it would not intervene in their operations.

‘If someone makes allegations against an institution like the CIABOC, the best solution is for the DG or the Commission itself to respond, but not the Government,’ the Minister said.

He also said that the Government had full confidence in the officials of the CIABOC as they were performing their duties responsibly and professionally.

According to Dr. Jayatissa, the attempts to level baseless accusations against the CIABOC appeared to be efforts to undermine its ongoing investigations and the best means to challenge the appointment of the CIABOC DG, who has extensive legal experience as a former Magistrate and High Court Judge, was through a legal process.

Answering a question whether there was a lethargy in taking legal actions against those who have corruption charges in the Government, he said all complaints were going through a due legal process.

‘If any allegations have been made against ministers, the CIABOC will continue to investigate them according to its procedures. The Government remains committed to ensuring the CIABOC functions independently and efficiently to strengthen the anti-corruption framework,’ he stressed.