President Gotabaya Rajapaksa has directed the officials of the Central Bank to deliver justice to the depositors of the ETI Finance and The Finance Company PLC after seeking legal advice regarding those insolvent companies immediately.
President Rajapaksa further said that a committee representing the Presidential Secretariat, the Central Bank, the Treasury and the depositors should be established to monitor the future course of actions on this issue.
The President made these remarks during a meeting held at the Presidential Secretariat, today (29) to review how the repayment process being carried out at the ETI Finance and The Finance Company PLC.
A Presidential Commission of Inquiry (PCoI) has been established to look into ETI Finance Ltd’s transactions. It was discussed in detail regarding the measures taken by the Central Bank in respect of these companies.
Under the first phase, repayments will be made to the depositors of both companies with a deposit value of less than Rs.600, 000. The President emphasized that justice should be delivered to all other depositors too; even by seizing all properties owned by the two institutions.
Prof. W.D Lakshman, the Governor of Central Bank stated that during the next Monetary Board meeting they will introduce measures to provide appropriate solutions to the complaints and grievances presented by the public after investigating them thoroughly.
In addition, the governor assured that he will address short comings at the Central Bank which directly impact the general public and restore its dignity as an institution.
President Rajapaksa said that the assets of the ETI Investments and The Finance Company will be assessed and take over without litigation and the money owed to the general public will be returned. President further added that stern action will be taken against persons who fail to repay their loans.
Secretary to the President, P.B. Jayasundera, Secretary to the Ministry of Finance, S.R. Attygalle and a group representing depositors in both finance institutes were present at the discussion.
President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa attended the special screening of the movie; “The News Paper”.
The movie was screened at One Galleface-PVR yesterday (June 28). The film has been co-directed by Sarath Kothalawala and Kumara Thirimadura while its co-producers are Minister Bandula Gunawardana, Raveendra Guruge and H.D. Premasiri.
The movie is scheduled to premiere on the 2nd of July and the first show (10.30 am) will be open to the public free of charge.
Personnel in Healthcare services, Tri-forces, Police and media who had been engaged in eradicating COVID-19 virus are allowed to watch the movie once using their Office ID.
Principal advisor to President, Lalith Weeratunga, Secretary to the Prime Minister, Gamini Senarath were present at the special screening of the movie.
The final report by the Expert’s Committee appointed to review the proposed Millennium Challenge Corporation Compact (MCC) is accessible for general public in the following websites.
www.president.gov.lk
Link 1: https://www.president.gov.lk/si/ජනපතිට-භාරදුන්-mcc-සමාලෝචන
www.presidentsoffice.lk
www.pmdnews.lk
Link 1: http://www.pmdnews.lk/si/mcc-review-final-report-presented-to-president/
President Gotabaya Rajapaksa appointed a four-member Committee to review the proposed Millennium Challenge Corporation Compact (MCC) on January 01st, 2020.
The Committee was chaired by Lalithasiri Gunaruwan, a Professor of Economics at University of Colombo. Former Secretary to the Ministry of Transport Dr. D. S. Jayaweera, President’s Counsel Justice Nihal Jayawardena and architect Nalaka Jayaweera were the other members of the Expert’s committee.
The final report of the Committee was handed over to President Gotabaya Rajapaksa by Prof. Lalithasiri Gunaruwan at the Presidential Secretariat on the 25th June.
President Rajapaksa directed the Secretary to the President to place the recommendations of the report before the public.
The curfew has completely been lifted effective from today, June 28th Sunday.
Curfew which was imposed in order to prevent the spread of COVID -19 for the first time on March 20th was in force from 12.00 midnight to 4.00am from June 13th
The final report of the Expert’s Committee appointed to review the proposed Millennium Challenge Corporation Compact (MCC) was handed over to President Gotabaya Rajapaksa at the Presidential Secretariat today (25). Later the report will be placed before the public.
The Committee has presented its recommendations following a 6 months long study after careful consideration of opinions, views and suggestions from various sectors of the society including experts, voluntary organizations, public entities and individuals.
Two stages of the MCC had been signed in 2017 and 2018 said the Chairman of the Committee Lalithasiri Gunaruwan Professor of Economics of University of Colombo. Although USD 7.4 million and 2.6 million had been granted under the two stages, no accounts details are to be found anywhere, Prof. Gunaruwan said.
The Chairman pointed out that no multi-sectorial analysis had been conducted by the focal points of the then Government entrusted with the task of reviewing before the signing of the Compact.
Prof. Gunaruwan said that after the adoption of the project as an Act of Parliament it would be a violation of the agreement to submit a counter-proposal or a resolution relating to it.
Any condition of the Compact can be amended by two representatives by a letter. Such an action amounts to a violation of the sovereignty of Parliament. It had created a situation where the Attorney General cannot represent the Government or go to Courts, the Chairman said.
The members of the Committee enlightened the President on the current status of countries which had implemented the MCC. They said the fate of these countries is tragic.
The Chairman Prof. Lalithasiri Gunaruwan commended the opportunity given by the President to compile an unbiased report without intervention of any external party.
After considering all these facts the President directed the Secretary to the President to place the recommendations of the report before the public.
Following a Cabinet decision taken on December 18, 2019, the four-member Committee was appointed with effect from January 01st, 2020. Former Secretary to the Ministry of Transport Dr. D. S. Jayaweera, President’s Counsel Justice Nihal Jayawardena and architect Nalaka Jayaweera are the other members.
The interim report of the Committee was handed over to the President on February 17th.
Following corporate, individual donations and direct deposits, ‘ITUKAMA’ COVID-19 Healthcare and Social Security Fund balance has now surpassed Rs. 1407 million.
The Chairperson of the Sri Lanka Rupavahini Corporation, Dr Nihal Jayathilake donated his salary for May, Rs 119,374 while Kaduwela Municipal Council handed over a sum of Rs 743,620 to President Gotabaya Rajapaksa.
The Condominium Management Authority contributed a sum of Rs. 10,000,000 and W.H Podiamma in Galgamuwa donated a sum of Rs. 25,000 to the fund. Thilini Nisansala Narasinghe from Padeniya donated a sum of Rs 5,000, M.J Camilus from Bingiriya contributed Rs 10,000, Indrani Weeratunga offered Rs 225,000 while Free Workers Association of Polonnaruwa, Central Cultural Fund-Alahana Piriven Project donated Rs 500,000 to the fund. W.H Theeraka had offered a cheque of Rs 50,000 to the fund and it was handed over to the President by Prime Minister, Mahinda Rajapaksa.
In addition, HNB Finance Ltd contributed a sum of Rs 2,500,000 while Pensioners Welfare Association of the Central Bank donated Rs 557,000 to the fund. R.M Wijesinghe from Kegalle donated Rs. 10,000 while R.M Dhammawathi Gunasekara from Mihintale made a direct donation of Rs 10,000 to the Itukama fund.
The Fund’s balance has now reached Rs. 1,407,664,176.86.
Local, as well as foreign donors, have made their contributions to the Fund. Deposits can be made
through cheques, telegraphic transfers, via www.itukama.lk or by dialling #207#.
For further information contact through 0760700700/ 0112320880/ 0112354340 or 0112424012.
President Gotabaya Rajapaksa has given one year’s time to Lanka Salt Limited which runs at a loss since 2018 to earn profit.
The profit earned by the Lanka Salt Limited in 2016 stood at Rs. 70 million. In 2017 it declined to Rs. 32 million. The organization made a loss of Rs. 2.8 million and Rs. 10.91 million in 2018 and 2019 respectively.
President emphasized the Chairman and the Board of Directors should take the responsibility of investigating causes for loss occurred during these three years and to transform the entity into a profit earning one.
President made these comments during a discussion convened to evaluate the current status of the Lanka Salt Limited at the Presidential Secretariat today (24).
The Lanka Salt Limited which was earmarked to be privatized in 1998 was vested under the purview of Employees Trust Fund (ETF) with the intervention of then Minister of Labour Mahinda Rajapaksa. The organization with 90% ownership of the company’s capital by the ETF and 10 % by the employees transformed itself into a profit making venture.
President Rajapaksa stressed that it is absolutely necessary for every company under Employees Trust Fund (EPF) to earn profits. He instructed the officials to devise separate strategies for the next 6 months and the following year that would render profits.
Complete termination of salt importation is necessary. “Lanka Salt Limited should once again export their products as they did prior to the year 2015,” President emphasized. President went on to note that excuses for losses are irrelevant and he is more interested in strategies that would lead to profit.
Secretary to the President, P.B. Jayasundera, Chairperson of the Employees Trust Fund(EPF), Sriyan De Silva Wijayaratna, Chairperson of the Lanka Salt Limited, Nishantha Sandhabarana and members of the director board were present for the discussion.
Following corporate, individual donations and direct deposits, ‘ITUKAMA’ COVID-19 Healthcare and Social Security Fund balance has now surpassed Rs. 1392 million.
Anunayake of the Malwathu Chapter, Most Ven. Niyangoda Wijithasiri Thero donated Rs. 192,516, Chief of Madhirigiria Buddhist Center, Ven. Madhirigirye Assaji Thero contribute with Rs 100,000 while Piriven Unit of the Ministry of Education donated a sum of Rs. 4,484,500 to the Fund and they were handed over to the President Gotabaya Rajapaksa.
In addition, Wana Senasanadhipathi of Batuvita, Ven. Kamburugamuwa Wajirasiha Thero made a direct donation of Rs 100,000.
The Secretariat of the Abadha Sahitha Thanaththange Swashakthi Sanwindanaya of the Ududumbara Divisional donated Rs 50,000 while Social Work Officer of the same Divisional Secretariat, A.W.A.K Amunugama contributed with Rs 10,000 to the Fund. Medical students of Gomal University, Belarus donated a sum of Rs. 185,000, Mrs. Buddhini Jinadasa contributed Rs. 100,000 while Retired Director of Education, M.M. Jayathilake offered Rs 40,000 to the fund. Attorney at law, Vinura Jayawardena contributed a sum of Rs 10,000, Director General of the National Secretariat for Non-Governmental Organizations, Raja Gunaratne offered Rs 88,000 while retired war veteran, Indrapala K. Kapuge donated a sum of Rs 10, 000 to the Itukama fund.
The Fund’s balance has now reached Rs. 1,392,909,182.76.
Local, as well as foreign donors, have made their contributions to the Fund. Deposits can be made through cheques, telegraphic transfers, via www.itukama.lk or by dialling #207#.
For further information contact through 0760700700/ 0112320880/ 0112354340 or 0112424012.
Funds of the Itukama Covid-19 fund is primarily focussed in facilitating means to combat Covid 19 virus including, purchasing medication, medical equipment and capacity expansion. An amount of Rs 200 million had been allocated for PCR exams under the fund, and 6 million has already been released for the purpose.
President Gotabaya Rajapaksa highlighted the necessity of right media practice that helps preserving Sri Lankan identity and cultural values.
He made this comment during a progress review meeting with the Independent Television Network(ITN) at the Presidential Secretariat today(June 23).
The changes that should be made to create a new television culture incorporated with the state of the art technology and the requirement of programs to improve knowledge were discussed at this meeting. Majority of the people accepted the National Policy Framework; ‘Vistas of Prosperity and Splendour’ presented during the Presidential election campaign. The President stated that he does not want media to promote his personal image. “What I expect is to take to the people, the vision enshrined in the policy framework, which my government is committed to execute” President added.
In addition, the President emphasized the necessity of establishing guidelines for the process of selecting foreign programs for telecast.
The current status and the future plans of the Independent Television Network(ITN) were evaluated during the discussion.
Chairman of the Independent Television Network (ITN), Sudath Rohana, Executive Director, Hasantha Hettiarachchi, Chief Executive, Nalin Kumara Nissanka, several other members of the Board of Directors and senior officials were present at the discussion.
Opportunity is now open to commence productions in many sectors with the limiting of imports of several non-essential items, President Gotabaya Rajapaksa said.
As pledged in “Saubhagyaye Dekma” policy statement the way has been paved for a people-centric production economy. The current challenge before the industrialists is to win the domestic and global market, President observed.
President made these comments during a discussion with the members of the Inter-Ministerial Task Force on Industrial and Enterprise Development held at the Presidential Secretariat today (22).
At present there are several tasks before to be performed by businessmen. They include satisfying consumer needs, creation of new industries and introducing new technology to the country. President emphasized the importance of maintaining the highest possible level of standards in every product manufactured and every service provided in the country.
The Government apparatus is geared to assist the industrial sector. The ground work including the provision of loans at single digit interest rate has been laid. President Rajapaksa said he expects the industrialists to show results by manufacturing an array of goods ranging from brooms to medical drugs domestically.
It is not the government’s policy to encourage imports of agricultural products while giving encouraging farmers to grow locally. President Rajapaksa further said that as the government moves forward with a steady policy, there is an environment for the farmers to understand the market demand in a similar manner like industrialists do.
Representatives of several fields including motor vehicle assembly industrialists, motor spare parts manufacturers association, packaging manufacturers, power cables industrialists, national marine manufacturers association, metal industrialists, leather industry advisory committee, rubber related products manufacturers association, advisory committee of electrical & electronic equipment, timber and timber-related products industrialists association, joint apparel association forum, apparel industrialists, cosmetic manufacturers association and advisory committee on the drug manufacturing attended in this meeting.
Minister of Industries, Wimal Weerawansa, Secretary to the President, P.B. Jayasundera and Ministry Secretaries participated in the discussion.