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Once envisioned as a vital arm of Sri Lanka’s maritime future, the Magampura Port Management Company (Private) Limited (MPMC) now stands as a stark reminder of how poor planning, weak oversight, and delayed accountability can sink state ventures into deep financial waters.

Formation and Purpose of MPMC

Established on July 5, 2013, as a subsidiary of the Sri Lanka Ports Authority (SLPA), MPMC was tasked with managing operations at the Hambantota Port later renamed the Magampura Mahinda Rajapaksa Port.

The company began functioning as a licensed fuel supplier under the Ceylon Petroleum Corporation, importing and storing fuel for re-export to international vessels. In 2014, it secured a hefty US $24 million loan from a private bank, guaranteed by the SLPA, in a bid to build a lucrative bunkering business.

Operational Collapse and Mounting Losses

But the dream was short-lived. A global oil price crash and operational inefficiencies soon turned MPMC’s high-stakes fuel venture into a financial nightmare. 

By 2017, losses had piled up, operations were suspended, and the company’s financial position had collapsed. As of 2023, an estimated US $18.8 million about Rs. 6.8 billion remains unpaid, with interest swelling the debt further. 

The loan default led to two court cases filed in 2020 against both the company and the Ports Authority, while liquidation proceedings only began in June 2022 nearly five years after operations ceased.

Audit Findings and Governance Failures

Auditor General’s reports reveal a grim picture of mismanagement: failure to verify fuel stocks, missing bank confirmations, and no clear action plan to recover losses or repay the loan. MPMC recorded a negative net-asset position of Rs. 2.79 billion by 2018, with accumulated losses of Rs. 2.87 billion. 

Yet, despite these warning signs, state authorities allowed the company to remain dormant, draining public funds and credibility.

“The collapse of MPMC represents a breakdown in corporate governance and financial accountability within the Ports Authority’s oversight structure,” a senior official at the Ministry of Ports and Shipping admitted, speaking on condition of anonymity. “It is a costly lesson on how not to manage state-owned subsidiaries.”

The repercussions extend beyond balance sheets. The Hambantota Port touted as a strategic maritime gateway—continues to battle public skepticism over its profitability and management after being leased to a Chinese joint venture in 2017. The dormant MPMC only adds to that shadow, raising concerns about how state-backed projects are planned and monitored.

The Cautionary Legacy of MPMC

Analysts warn that this failure could deter future investors and complicate Sri Lanka’s efforts to attract private participation in port and logistics infrastructure. “The problem wasn’t the port it was the execution. You can’t run a billion-dollar asset with a short-term business mindset and no risk safeguards,” said a former SLPA director.

As liquidation drags on, MPMC’s legacy remains a cautionary tale. It underscores the urgent need for the government to impose stronger financial discipline on its enterprises, ensure swift closure of loss-making entities, and align subsidiary operations with national strategic goals—before another “dormant” company silently drains the public purse.

In today’s world, where mobility defines influence, Sri Lanka finds itself at a crossroads. According to the CEOWORLD magazine’s Global Passport Power Ranking 2025, the country currently sits at 89th place, on par with Burundi and only eleven spots ahead of North Korea. That ranking underscores both a challenge and an opportunity.

Sri Lankan passport holders require visas for 141 destinations worldwide. Compare that with Singapore’s 23 visa requirements or the United Arab Emirates’ 19, and the gap is striking. Pakistan and Bangladesh fare worse—153 and 148 visa requirements respectively—but Sri Lanka remains far from the global elite.

The absence of visa-free access to the European Union, the United Kingdom, Canada, and the United States further limits Sri Lankans’ global mobility. For executives, investors, and professionals, this restriction hampers not just personal convenience but also cross-border business opportunities.

“Sri Lanka is not visa-free to Europe, the UK, Canada, or the US. It doesn’t rank in the top tier of passports. However, the power of the passport can be increased,” explains Caroline Mtr., JD, Esq, Chief Economist & Executive Director of Global and Strategic Initiatives at CEOWORLD magazine.

She notes that with carefully designed investment migration programs, countries can enhance global mobility for citizens while attracting much-needed capital. For Sri Lanka, such reforms could transform its passport from a limiting factor into a strategic asset—strengthening economic resilience and opening new opportunities for investors and global citizens alike.

The Global Benchmark

The Global Passport Power Ranking sorts passports by their Mobility Score (MS)—a composite that includes visa-free access, visa-on-arrival options, electronic travel authorizations (eTA), and expedited eVisa processes. The higher the MS score, the greater the global mobility.

At the very top sits the United Arab Emirates, with visa-free access to 133 countries, plus 46 more via visa-on-arrival, eTA, or eVisa. Stability, visionary policymaking, and a currency board–like monetary system make the UAE an investment magnet and a mobility powerhouse.

Sri Lanka, meanwhile, struggles with monetary instability—critics point to excessive money printing, rate cuts, and exchange controls that have triggered repeated currency crises. Combined with heavy outmigration (often through unofficial channels), the situation presents both risk and urgency.

Investment Migration: A Strategic Lever

CEOWORLD magazine has long advised governments on how to enhance passport strength while simultaneously attracting investment. The key tool? Investment migration programs—structured pathways to citizenship or residency in exchange for capital inflows.

“Stable countries, especially those with low tax rates, can attract foreign investors through investment and residency schemes,” explains Caroline. “We propose investing in citizenship and residency schemes for foreign investors, enabling them an extra citizenship in case of insecurity in their home country, to be able to relocate or to travel to a country like Sri Lanka, which their own initial passport does not allow them to do.”

Residency in Sri Lanka could appeal to investors who see strategic tax benefits or want to establish a base in South Asia. The island nation’s unique geographic position—straddling key Indian Ocean trade routes—could also give it a competitive advantage.

Still, Sri Lanka would be entering a crowded field. Singapore, Dubai, and Hong Kong already dominate with low taxes, investor-friendly frameworks, and globally respected passports. To attract serious investors, Sri Lanka must carve out a unique niche.

Targeting New Demographics: Retirees & Global Citizens

Sri Lanka stands at a crossroads, with the dual challenge of improving its global passport ranking and attracting foreign investment. For a nation navigating economic uncertainty, the path forward may lie in a strategy already embraced by many forward-looking economies: investment migration programs.

According to Prof. Dr. Amarendra Bhushan Dhiraj, CEOWORLD magazine’s Executive Chair, CEO, and Editorial Director, Sri Lanka has a genuine opportunity to reposition itself on the global stage.

“Sri Lanka’s passport ranking today reflects limited mobility, which restricts both citizens and investors. By carefully designing and implementing residency and citizenship-by-investment programs, the country can strengthen its global standing while simultaneously securing much-needed foreign capital. This dual benefit—enhanced passport power and capital inflows—can become a cornerstone of Sri Lanka’s long-term growth strategy.

To improve its ranking, Sri Lanka must engage in bilateral agreements with key economies, ensuring broader visa-free access for its citizens. Parallel to this, structured investment migration schemes can be developed to channel foreign capital into priority sectors such as real estate, agriculture, and infrastructure. A program tied to flagship projects like Colombo Port City could immediately attract high-net-worth individuals seeking second residency or citizenship options.

Global investors today are not just looking for mobility; they are seeking stability, lifestyle advantages, and tax efficiencies. Sri Lanka can position itself as a strategic hub in South Asia by offering transparent, credible, and competitive pathways to residency. With the right governance, due diligence, and incentive structures, Sri Lanka could rival established destinations that already dominate this space.

Improving passport strength is not merely about travel convenience. It signals to the world that a country is open, stable, and globally integrated. Coupled with a well-executed investment residency program, Sri Lanka can create a virtuous cycle—enhancing its international reputation, attracting foreign direct investment, and offering citizens and investors alike greater global access.”

For Sri Lanka, the stakes could not be higher. A stronger passport and a credible investment residency framework would not only bring in capital but also restore confidence, transform the nation’s global image, and unlock a new era of economic opportunity.

Investment residency programs are not just about entrepreneurs and hedge fund managers. Countries across Asia—from Thailand to Malaysia—have successfully targeted retirees looking for cost-effective yet high-quality living options.

“The same can be said for people who may want to relocate while on a retirement scheme, similar to those who flock to Thailand or Malaysia,” Caroline notes.

For Sri Lanka, this could mean positioning itself as a retirement haven for high-net-worth individuals (HNWIs) seeking tranquility, cultural richness, and favorable tax treatment. A carefully designed program could tap into a multi-billion-dollar global market of retirees seeking new lifestyles abroad.

Sri Lanka’s Debt Crisis and the Investment Imperative

Sri Lanka is currently navigating a severe debt crisis, with limited fiscal flexibility. According to Prof. Dr. Amarendra Bhushan Dhiraj, CEOWORLD magazine’s Executive Chair, CEO, and Editorial Director, investment residency programs could serve as a lifeline.

“Sri Lankans could also benefit from such programs. With Sri Lanka in a debt crisis, investment residency schemes could help the country get funding,” he said.

The opportunities lie in real estate, agriculture, and the ambitious Colombo Port City project. By structuring these sectors into residency or citizenship-by-investment programs, Sri Lanka could unlock fresh streams of foreign capital.

Real Estate: From Port City to National Potential

Real estate development is a natural candidate for investment migration. Around the world, programs often allow foreign investors to purchase property in exchange for residency rights.

“If a property developer has ideas for projects in Port City that they would like to bring to market, we could help them with that and structure their project as part of the country’s citizenship by investment program for foreign investors,” Caroline explained.

This model has worked elsewhere. From Portugal’s Golden Visa to Greece’s property-linked residency schemes, foreign capital has flowed in, creating new growth engines for real estate, hospitality, and infrastructure.

Agriculture: A Modernization Play

Beyond real estate, Sri Lanka has untapped potential in agriculture. The country’s fertile land and favorable climate offer natural advantages, but access to modern technology remains limited.

“From my observation of the agricultural sector, there’s a lack of access to the latest technology. I think that could be an avenue for the government to look at to direct funds into,” Caroline said.

By integrating agriculture into residency programs—whether through agri-tech investment, export-oriented farms, or climate-resilient projects—Sri Lanka could attract both capital and expertise.

Competing on the Global Stage

Sri Lanka is not alone in pursuing this path. Global competition for mobile wealth is fierce. The success stories—Dubai, Singapore, and Hong Kong—share three critical traits:

• Low or competitive tax regimes • Strong global mobility through powerful passports • Stable, investor-friendly political and economic environments

For Sri Lanka, achieving all three will be challenging but not impossible. A carefully structured program, combined with genuine reforms in fiscal policy and governance, could transform the country’s position in the global wealth migration landscape.

Executive Takeaway

Sri Lanka may rank near the bottom of the global passport hierarchy today, but its story is not static. By embracing investment migration programs, the nation could enhance passport strength, attract fresh inflows of foreign capital, and position itself as a strategic hub in the Indian Ocean.

For investors, the appeal would be twofold: a potential tax advantage and access to one of Asia’s most strategically located markets. For Sri Lanka, the payoff could be transformative—unlocking growth in real estate, agriculture, and infrastructure while stabilizing its fragile fiscal outlook.

The challenge is urgent, but so is the opportunity. If Sri Lanka takes decisive action, its passport could become more than a travel document—it could evolve into a gateway for global capital and economic revival.

(Despina Wilson - CEO World Magazine)

The ambitious construction of the Akuregoda Defence Headquarters Complex, intended to serve as the centralized hub for Sri Lanka’s Armed Forces and Ministry of Defence, has become emblematic of complacency, mismanagement and unquantified losses running into hundreds of millions.

Origins and Political Context

The roots of the project trace back to decisions made while Gotabaya Rajapaksa served as Secretary to the Ministry of Defence and Urban Development and continued into his presidency, revealing a troubling blend of strategic overreach and governance failure.

Initially envisioned as a means to free prime land in Colombo and consolidate defence administration, the headquarters complex was launched in 2011. 

Early Implementation and Emerging Irregularities

Under the Rajapaksa era, it gained momentum but also became entwined with controversy. A Cabinet-appointed investigation found that consultancy fees and firm selections were improperly handled, with large payments allegedly made without full oversight.

Local reports said a payment of Rs 600 million had been made in excess to a consultancy firm in 2016 during the project’s early phase.

Procurement and Contract Failures

Fast-forward to recent audit findings: For the granite-tiling contracts alone—awarded despite guideline breaches three procurement tasks worth Rs 927.66 million were all given to a single contractor, sidestepping required pre-qualification of bidders. 

Four extensions increased the contract period threefold and still the work remained unfinished as of 31 December 2023. On top of this, two suppliers submitted 19 claims for extension-of-time (EOT) amounting to Rs 837.5 million and US $3.68 million, placing a significant contingent liability on the state.

These anomalies matter not just as isolated procurement failures but because they point to deeper structural issues: lack of meaningful oversight, scope creep, and poor alignment with strategic needs. The state’s decision to concentrate all branches of the military into a closely-packed complex despite expert warnings of security vulnerability reflected inadequate planning at the outset.

Fiscal Implications and Structural Weaknesses

The economic and financial implications are stark. Unfinished contracts lock up capital while leaving the necessity of ongoing operational costs or alternative arrangements. Contracts ballooning in cost directly drain public resources with little visible return yet.

The investment in the project has diverted funds that could have been deployed elsewhere in an economy already under stress and seeking foreign investment. Moreover, the reputational damage fuels investor wariness: if high-profile defence infrastructure can flounder, what message does this send about governance standards and project execution to the private sector?

Policy Lessons and the Way Forward

Crucially, this project has become a micro-cosm of the Sri Lankan state’s fiscal fragility: fixed assets built on Promised Land sales (such as in the early 2010s) and off-balance-sheet liabilities now shifting into public domain. The construction of the new military HQ was linked to land sales of the old Army headquarters and the idea was to use those proceeds rather than traditional budget allocations.

But when oversight faltered, cost escalated and benefits lagged, the outcome has been fiscal stress rather than strategic advantage.

For Sri Lanka, the way forward must include a rigorous forensic audit of the defence HQ project, revision or cancellation of persistently lagging contracts, and a recalibration of the way large state-infrastructure projects especially in strategic sectors are conceived, procured and implemented. Without such corrective action, the heavy price paid in opportunity cost, public funds and investor confidence may yet deepen the country’s economic vulnerability.

" are ready to take up the leadership of the country”, declared Anura Kumara Dissanayake, leader of the Jathika Jana Balavegaya (National People’s Power - NPP) and the JVP at the Convention held on the 20th December. He said so in a tone to impress the audience that it was the latest strategy that his party was going to adopt. In this effort, he made an attempt to paint a picture that his party, unlike the other two parties, the UNP and the SLFP, has no previous experience in the rule of the country and therefore, the JVP is different from the other two mainstream parties, and could claim for an uncorrupt heritage. There is some truth in what he says, but in fact, there are some flaws in the assertions that he has underlined.

History of the JVP in brief

The JVP is now 57 years old; its origin can be traced back to 1964. Its parliamentary history is also as old as 27 years. It can be considered as a party that has attempted to seize the ruling power using various tactics, not just one. In 1971, it tried to seize power through an armed insurrection. In 1982, it contested the presidential election, not to win, but to deprive the SLFP of its place and appropriate it upon their party. Later, it assumed an underground political path under the cover of the ban imposed on the party in 1983, and launched a horrendous uprising in 1987-89 to seize power. In 1994, the JVP abandoned the violent path skillfully, and switched over to the Parliamentary system following the defeat of that uprising.

Then in September 2001, the JVP entered into a Memorandum of Understanding (MOU) with the United Front Government to form a probationary government. Again in January 2004, it entered into an Electoral Alliance called the United People's Freedom Alliance with the United Front. Consequently, having contested the election under the alliance, it was able to increase the number of seats it had in the parliament from 16 to 39. It was able to secure four powerful ministerial portfolios in the coalition government headed by President Chandrika. The JVP withdrew from the coalition government when the President decided to absorb a group of defectors from the UNP to the government rather than depending solely. Again the JVP supported Mahinda Rajapaksa at the 2005 presidential election. At the presidential election 2010, JVP was instrumental in bringing Sarath Fonseka to the fore as the common candidate to defeat Mahinda.At the 2015 presidential election it indirectly supported the program launched to defeat Mahinda.It also secured the position of Chief Opposition Whip in Parliament, with the patronage of the Yahapalana regime, without having a legal entitlement to it. The JVP contested the Presidential Election 2019, not to win it, but as a means of increasing its power in parliament. But it failed to achieve the desired objective. At present, in view of the apparent confusion in the right-wing political camp in the opposition, the JVP seems to believe that it might stand a chance of securing the ruling power at the next election.

The ideological milieu

It seems that the JVP has devised a special line of reasoning to prepare the ideological background to achieve this goal. Accordingly, the country has been destroyed by the two corrupt political parties that had ruled the country alternately. The JVP is not as corrupt as those political parties and also has not ruled the country like them. Therefore, they seem to believe that they possess the legitimate right to save the country that has been destroyed by both groups. But it goes without saying that things in the country are not as simple as they think. It is not only the ruling parties that influence the ideological milieu of a society; there are other groups and forces also that influence it. It was not a ruling party, but an ideological school of thought that has socialized the belief that the kidney disease prevalent in the Rajarata region has been caused by the use of agro-fertilizers and agro-chemicals. Also, the episode of drugs alleged to have been introduced by Muslims to make Sinhala women sterile was fabricated and socialized by a similar group. Although anti-Tamil racism has now been abandoned, the JVP has played a major role in inculcating a progressive-looking anti-Tamil racist vision in the minds of the Sinhala Buddhists community. The principle of violent struggle and the practice adopted to launch it could be considered as an important factor that has impacted the state of current decay, bankruptcy and failure of Sri Lanka. Although theft is a serious crime, it can be said that the damage inflicted on society by the destroyers of wealth is greater than the damage caused by the thieves. Even stolen wealth enters the circulation of money in various ways. But the wealth that is destroyed once does not enter the circulation like that. The devastation wrought on Sri Lanka by violent and rebellious movements is enormous. It can be said that not only fraud and corruption, but also destruction of wealth has contributed to the current crisis in Sri Lanka.

The JVP may have achievements to be happy about in its parliamentary history; but it is important to note that it has not been able to become a model that could be emulated by the political parties in Sri Lanka. The parliament was in a state of corruption when the JVP joined parliamentary politics. Plunder of public property had become a significant and permanent feature of state administration following the establishment of the presidential system in 1978. The incumbent presidents used to adopt unlawful means to enable their team of MPs to amass wealth in order to keep them loyal and contended. In this process, the presidents allowed the MPs to transact business with the government. As a result, some of them have acquired valuable government land and become planters, some have become large contractors, and some others licensed businessmen. Liquor licenses were issued through MPs during the reign of president Chandrika. So, a large number of MPs have become tavern owners. Such practices can be considered as serious offenses punishable by depriving the MPs involved in them, of their positions and even civic rights. But the presidents in power prevented the law from being enforced against them. This situation has led to corrupt Parliament to a massive extent. Although the JVP had the potential to make a vehement protest against this ugly practice in Parliament and change the situation, for whatever reason, it refrained from talking about it. In doing so, it has deprived itself of the opportunity to gain greater recognition among the people.

What is the solution?

Although the general conduct of the JVP MPs may be relatively better than that of the MPs of other political parties, the policy they have followed in regard to duty free vehicles is blemished. The system of giving duty free vehicles to MPs in such a way that they could sell them and make money can be considered as an illegal and corrupt system that gives the MPs undue privileges. It can be considered as a practice contrary to the accepted democratic parliamentary traditions, and also one that has caused a huge financial burden on the country. Later, the practice of offering duty free vehicles had to be extended to higher ranking officials in the public service also, because those who initiated it wanted to justify the system maintained for the Members of Parliament. In the end, it became a wasteful and corrupt system incurring an unbearable burden on the country. Now, not only the politicians, but also the government officials who fall into higher echelons or supra category of public administration use luxury cars costing over Rs. 30 million and incurring highest cost of fuel consumption. It can be said that the corrupt system of offering duty free vehicles to MPs and public servants has also contributed to the state of bankruptcy of the country. JVPs claim that “we haven’t kept the money realized from the sale of duty free vehicles with us except that we have given them to the party fund” will not rectify the error. The money that has gone to the JVP party fund is nothing but the money that should have gone to the government treasury. The JVP cannot exonerate itself of this fault on account of its toleration of such a wasteful and destructive system whilst at the same time being a party to it as well.

The speeches made at the convention held on the 20th do not show that the JVP has a profound analysis of the crisis facing Sri Lanka and how to overcome it.Also, the pamphlet titled "A Quick Approach to Overcome the Crisis" circulated on the occasion of this convention too, does Wenot offer an objective and insightful analysis of it. What is their true analysis of the crisis facing Sri Lanka? What are the solutions they offer to solve the crisis? There is another major question to ask. What do they intend to do if there is a collapse of the state before the next presidential election? So far, only Champika Ranawaka and Ranil Wickremesinghe have shown some sensitivity to this question. What will happen if the state collapses with the collapse of the government, before the next election?

The National Heritage Division of the Ministry of Cultural Affairs has initiated the process of identifying and listing Sri Lanka’s national heritage sites, along with drafting new legislation to protect them.

An expert committee has been appointed to oversee the initiative, according to Additional Secretary of the Division, Ms. Sujeewa Palliyaguruge. 

She noted that while the country’s national heritage has been previously gazetted under the Archaeology Act, no specific criteria had been established for identifying or categorising such heritage.

The newly appointed committee has decided to classify national heritage into tangible and intangible categories and to develop a distinct criteria for each.

As Sri Lanka has not yet officially compiled a list of its national heritage sites, the Ministry’s current focus is on identifying and naming such sites across the country. In addition, a national heritage policy has been drafted and is expected to be submitted to the Cabinet for approval soon.

Ms. Palliyaguruge further stated that UNESCO has extended financial support for the project and that the Division is also reviewing the existing Archaeology Act with plans for revisions.

In 2022, then Minister of Cultural Affairs Vidura Wickramanayake obtained Cabinet approval to begin preparing a national heritage list, marking the first step toward the current initiative.

(source - Dailymirror)

By P.K. Balachandran

The regime of the Rajapaksas, established in November 2019 and consolidated in August 2020, is facing multiple problems, both domestic and external, economic as well as political.

“As researchers worldwide spark an academic debate, reports suggest that when bees are exposed to the intense electromagnetic radiation emitted from 5G cellular towers, they abandon their hives. A technology designed to connect the world may be silently disturbing one of nature’s most vital pollinators.”

Bees are essential to life on Earth. They are responsible for pollinating more than one-third of the world’s food crops. However, scientists have observed unusual behavior near active 5G towers. Worker bees appear to lose their sense of direction, failing to return to their hives, leading to the collapse of entire colonies. This strange reaction raises serious questions about how modern wireless technology might be affecting the delicate biology of insects.

Preliminary studies indicate that these electromagnetic fields could interfere with the bees’ navigation systems. Bees rely on the Earth’s magnetic signals and subtle vibrations to find their way. When these signals are disrupted, they may become disoriented, wander aimlessly, and eventually fail to return home. While more research is urgently needed, this pattern has become too significant to ignore.

This discovery reminds us that technological progress often carries hidden costs. While 5G enables faster communication, it may also be altering ecosystems in ways we do not yet fully understand. Protecting bees means safeguarding our food supply, biodiversity, and nature’s fragile balance. As science continues to search for answers, one truth remains: without bees, life as we know it cannot thrive. Perhaps it is time to pause and listen to the silence of the hives—and to reconsider the invisible waves filling our skies.

By Basil Fernando

The illustrious Gaekwad royal family of Baroda lives in a breathtaking ancestral palace valued at over ₹24,000 crore — a residence said to be four times larger than Buckingham Palace. Their inherited wealth exceeds ₹20,000 crore, making them one of India’s richest surviving royal dynasties.

This royal household is currently led by Maharaja Samarjitsinh Gaekwad, head of the Gaekwad dynasty which ruled the princely state of Baroda from the early 18th century until Indian independence in 1947. Today, the family lives amidst a rare blend of preserved imperial heritage and contemporary grandeur — where tradition and modernity seamlessly intertwine.

Samarjitsinh ascended the throne in 2012 after the passing of his father, Ranjitsinh Pratapsinh Gaekwad. A former first-class cricketer himself, the Maharaja today serves as President of the Baroda Cricket Association and runs a cricket academy at the historic Motibaug ground. He is married to Radhikaraje Gaekwad, a former journalist and princess of the Wankaner royal family.

Lakshmi Vilas Palace — Larger than Buckingham, Priceless Beyond Imagination

The family resides in Lakshmi Vilas Palace, a 700-acre architectural marvel considered the largest private residence in the world. Built in the 1880s by Maharaja Sayajirao Gaekwad III in Indo-Saracenic revival style, this palace features:

• 170 opulent rooms
• Grand durbar halls and Venetian mosaic floors
• Priceless Ravi Varma paintings
• Antique weaponry and artifacts
• Rare imported stone from Songadh, used in its golden façade

Current estimated value? ₹24,000 crore.

Maharaja Samarjitsinh has even opened parts of the palace for private events under his luxury initiative ‘Lakshmi Vilas Banquets’.

A Legacy of Power, Art & Faith

After settling a long-running inheritance dispute with a family uncle, Samarjitsinh also gained control of:

• 170-acre Lakshmi Vilas Palace estate
• Motibaug cricket ground
• Maharaja Fateh Singh Museum
• Priceless gold, silver and royal jewels
• 17 historic temple estates across Gujarat and Varanasi

A Fleet of Royal Automobiles

Their royal garage features vintage automotive treasures, including:

• 1934 Rolls-Royce
• 1948 Bentley Mark VI
• 1937 Rolls-Royce Phantom III
• And the legendary 1886 Benz Patent Motorwagen — the world’s first car designed by Karl Benz himself.

The Fortune

Taking into account their ancestral wealth, land holdings, temples, heirlooms, museum assets, business ventures, and palace revenues — the Baroda royal family holds a net worth exceeding ₹20,000 crore.

Lakshmi Vilas Palace by Selvin

Written by Reshni Shanya

In 1978, J.R. Jayawardena ushered in the executive presidential system in Sri Lanka as a panacea for all the nation’s woes.

Sri Lankan Prime Minister Harini Amarasuriya was in China and India in quick succession, the latest demonstration by the National People’s Power government that it is keen on balancing its two most consequential relationships.

Amarasuriya visited China first. In Beijing, she met Chinese President Xi Jinping on October 14 on the margins of the Global Leaders’ Meeting on Women. During the meeting, China pledged to keep Sri Lanka a priority in China’s neighborhood diplomacy and the two sides emphasized continued cooperation in the port economy, modern agriculture, the digital and green economies, tourism, and sharper law enforcement coordination against cross-border crime. Cooperation with China in these issues is vital for Sri Lanka to achieve its goals, i.e., a port economy that turns ships faster, green and digital infrastructure that narrows the import bill, and agriculture and tourism value chains where Chinese technology and financing can raise productivity. It is also not surprising that the two sides discussed law enforcement. Cracking down on cross-border fraud, cybercrime, and illicit finance is vital to an economy trying to rebuild credibility with lenders and voters. These align with the government’s drive to improve governance while enhancing infrastructure, making the country a more attractive destination for investments.

In Delhi, Amarasuriya shared the stage at the NDTV World Summit 2025 with Indian Prime Minister Narendra Modi and ex-British leaders Rishi Sunak and Tony Abbott; visited her alma mater, Hindu College, where the school inaugurated a new research facility named the “Harini Amarasuriya Social & Ethnographic Research Lab” and posed with her friends and fellow academics.

Optics alone are not policy, but in South Asia, familiarity can lower transaction costs, and Amarasuriya’s performance signaled a comfort with India’s public square.

Prime Minister Amarasuriya’s focus in China was practical cooperation, ports, agriculture, digital and green infrastructure, tourism, and law enforcement, things Colombo needs to cut its import bill, raise productivity, and restore credibility with lenders and voters. In India, her focus was on showing that Sri Lanka was comfortable in mingling with the Indian elites and that it understood Indian sentiments.

This does not mean the Amarasuriya’s India visit has eliminated friction. Of course there are many issues to iron out with both countries. Some of the issues with China are the direct result of Indian pressure. For example, in late 2023, Sri Lanka imposed a moratorium on foreign research vessels visiting its ports due to continuous India pressure against the arrival of Chinese research vessels. Sri Lankan universities depended on partnerships with China for marine research. For almost two years, Sri Lankan students have been deprived of acquiring valuable experience in an international research setting with access to cutting-edge technologies. On the other hand, thousands of Indian fishermen, who use destructive fishing techniques, poach in Sri Lankan territorial waters, depriving the country of millions of dollars and endangering the livelihood of thousands of fishermen. The issue was discussed during Amarasuriya’s visit, but no one expects a solution anytime soon. Colombo has no effective method of stopping Indian fishermen and New Delhi sees no reason to stop its fishermen from poaching in Sri Lankan waters. On the other hand, IMF conditions on Sri Lanka, especially on tax concessions, have delayed the implementation of key agreements with China. The $3.7-billion deal with Sinopec is in limbo as the country can no longer provide tax concessions the Chinese want. Investments in the Port City have stalled due to the same reasons.

 

In the end, the value of Amarasuriya’s China-India shuttle diplomacy will be judged not by photo-ops but by whether it takes Sri Lanka closer to a more resilient economic and security posture. Balancing Beijing’s technology and financing with New Delhi’s proximity is not only sensible statecraft, but the only option available to Sri Lanka if it wants to develop, while protecting its sovereignty. If Colombo can convert ties with Beijing and Delhi into measurable domestic gains, faster ports, cheaper and cleaner power, stronger law enforcement, and higher-value tourism, the government could lay the foundations of a real economic recovery. Sri Lanka cannot control the temperature between its two largest partners, but it can control its own predictability, competence, and integrity. That ultimately is how a small state like Sri Lanka can turn great-power rivalry into national benefit.

 

By Rathindra Kuruwita

(Source - Diplomat)

The end of an era of extremism in Sri Lanka

By Victor Ivan

Professor Sirima Kiribamuna, making a lengthy review of the Mahavamsa, the great chronicle of Sri Lanka has extolled it as “the culmination of the historical thinking of the ancient Sinhalese”. Contrary to what professor Kiribamuna has said, the Mahavamsa cannot be considered as a book of history written for the purpose of recording the history of the Sinhalese race. It is more an account of the history of the Theravada Buddhism of Sri Lanka. However, the author of the Mahavamsa has recorded the history of Theravada Buddhism as something in which the Sinhala race and Buddhism have been inextricably linked.

On the other hand, Amaradasa Liyanagamage, who can be considered a better and more courageous historian, has pointed out that according to the Mahavamsa, the Lord Buddha by his clairvoyance, had foreseen that, after his  Parinirvana, the passing away, the Buddhism (the doctrine) will finally be  established and preserved in Sri Lanka;  on the same day, Prince Vijaya, a member of the Sakya clan,  the clan to which the Buddha also belonged to, with the blessings of the Buddha set out from Sinhapura of Lata Rata accompanied by seven hundred followers lands on the shores of Thambapanni, a location in the island of Lanka; the Buddha spoke to the God Sakka , the Lord of gods, and entrusted him with the task of carefully protecting prince Vijaya with his followers, the new settlers arriving in Sri Lanka. The link the author of the Mahavamsa has made between the origin of the Sinhala race and Buddhism with this narrative is not only unauthentic but also will not augur well for the Sinhala race or Buddhism.

In the pre-modern era, the Mahavamsa remained in the form of an Ola script written in the Pali language. So, it can not be considered to have made a great impact on the people of that era. The Mahavamsa became a book that affected the psychology of Sinhala Buddhists in Ceylon only after it was translated into Sinhala and published as a book during the British rule as a part of their project on the history of the country.

Anagarika Dharmapala

In the pre-modern era, race and religion except caste did not constitute a dividing line. It was only during the modern era that ethnicity and religion became a dividing line between the peoples of Sri Lanka. According to Bryce Ryan, the bitterest conflicts in Sri Lanka which erupted from the end of the nineteenth century until about 1925 had been among different castes and not among ethnic groups. Anagarika Dharamapala was the theorist who had made use of the alleged connection between the Sinhala race and Buddhism as illustrated in the Mahavamsa, and developed a simple theory of militant racism for Sinhala Buddhists at the beginning of the modern era.

Anagarika Dharmapala was the most recognized figure by the Sinhala Buddhists among the leaders who emerged in the aftermath of Sri Lanka moving into a modern era.  As Kumari Jayewardene has rightly put it, he was “the only aristocrat who walked with his head held high in the midst of a crowd of humble Sri Lankans who were cowardly shrinking and crawling on their bellies.”

Dharmapala was the staunch proponent of a policy that treated all non-Sinhala Buddhists living in Sri Lanka as Pariahs or outcasts and maintained that only the Sinhala Buddhists have the right to claim for Sri Lanka. He blamed not only the Europeans who conquered Sri Lanka but also the minorities living in the country for the decadence of the Sihala nation and Buddhism. He referred to all those who consumed beef (he called beef Gerimas) as Vasalayas or social outcasts. The militant and   racist ideas spread by Dharmapala among Sinhala Buddhist people affected the Muslims and Burghers devastatingly while he was alive.

’56 Revolution

The Sinhala-Buddhist militant racism introduced by Anagarika Dharmapala continued to act as a cancer pervading the post-independence Sinhala Buddhist community. There was a growing discontent and unrest among the community of the Buddhist Sangha over not restoring Buddhism, to the level it enjoyed during the reign of ancient Sinhala kings despite a considerable time having lapsed after independence. In view of the prevailing unrest among the Buddhist priests, Venerable Henpitagedara Gnanaseeha Thero, Gunapala Malalasekera and NQ Dias launched a strategic program to enlighten the Buddhist priests and the Buddhist people of the circumstances and win a Sinhala Buddhist government. The movement of the Buddhist Commission constituted the strongest component of this program.

The change of government in 1956 was arguably the greatest revolution that took place in the sphere of Buddhism since the Buddhist revival movement that emerged during the colonial period. The Buddhist monks acting as the driving force has been the most important feature of the ’56 revolution.

Prime Minister Bandaranaike abolished the prominence accorded to English and made Sinhala the only official language, contrary to the agreement reached between the political parties to grant the status of an official language for both Sinhala and Tamil languages. At the same time, the UNP too appeared for a Sinhala-only policy discarding its old language policy. Only the two leftist parties (the LSSP and CP ) appeared for the language rights of both Sinhala and Tamil communities.

After Bandaranaike

The Sinhala-only policy of Bandaranaike did not stop at pushing the Tamil people of Sri Lanka into a fierce struggle for their language rights, it also led to removing the Sinhala youth from bilingual education and restricting their medium of instruction only to the Sinhala language. Prime Minister Bandaranaike was eventually assassinated as a result of a conspiracy of Buddhist monks.

But none of these developments led to weaken the Sinhala-Buddhist supremacy but to strengthen it. The only capacity it possessed was to bulldoze the rights of minority ethnic groups by employing the majority power it had; so it played a destructive role rather than serving as a progressive force. Before long, the LSSP and the Communist Party, the only leftist political parties that worked among the Sinhalese people that did not endorse or recognize the domination of this movement, formed a coalition with the SLFP and pushed themselves also into a point of repulsive politics in which they opted to hold political protest rallies shouting slogans tinged with communal flavor like “dudlige baday masalawade “(Dudley’s belly is full of masalawade).     Thereafter, the new left that emerged in the form of the JVP also proved to be a political party that worked accepting the Sinhala-Buddhist supremacy, since its inception. Although the UNP formed a coalition government with the Federal Party in 1965, it also collapsed during the latter part of its term as it feared to transcend the boundaries set by the Sinhala Buddhist supremacy. The next coalition government formed by the SLFP, LSSP and the Communist Party adopted laws that led to oppress the Tamil people while maximizing the supremacy of the Sinhala Buddhist chauvinism. These ruthless laws eventually pushed the Tamil people to launch a fight for a separate state.

Defeating Prabhakaran

Prabhakaran’s Eelam War caused to further strengthen the dominance of Sinhala Buddhist supremacy in the Sinhala society.

As the ideology of Anagarika Dharmapala was no longer adequate to overcome the new challenges, there emerged new ideologies such as those promulgated by Gunadasa Amarasekara, Nalin de Silva and Champika Ranawaka.  All of them added to intensify the stupidity of the followers of their philosophy rather than improving their intellect.

The Sinhala-Buddhist supremacy was raised to its maximum carrying it to a greater height by the successful program of anti-Eelam war launched by President Mahinda Rajapaksa to defeat Prabhakaran and his persistent Eelam war. The victory of the internal war had led to conceal the decline and decay of the State. The victory of the war resulted in President Mahinda Rajapaksa being acknowledged as the crown prince of the Sinhala Buddhist people. Another change that took place in the face of the complete defeat of the Tamil enemy was that the fight against the Muslims became the next major war of the Sinhala Buddhist nation.

The defeat of Mahinda Rajapaksa at the presidential election 2015 was a source of anger and surprise for the Sinhala Buddhist forces which they perceived as an outcome of a conspiracy hatched by the minorities against the majority of the country; as usurpation of the political power which they possessed and was entitled to. The best way they saw to overcome this situation was to win the next presidential election only with the support of the Sinhala Buddhist votes. As in 1956, the Buddhist monks undertook the responsibility of organizing the people for that purpose.Gotabhaya Rajapaksa was assigned the onerous task of rescuing the Sinhala Buddhist people.

The Passage to Hell, instead of Heaven

As expected, this force was able to win both the Presidential and Parliamentary elections solely on the strength of Sinhala Buddhist votes. But the victory they have achieved has brought them to the abyss of hell rather than the kingdom of heaven which they hoped for. In any case, it would have been the ultimate logical outcome of this journey.

Every leader commencing from Anagarika Dharmapala up to Gotabhaya who had led the country along this path have disrupted the country and carried not only the minorities but also the majority of the Sinhala Buddhists to destruction rather than leading them to liberation.

In the context of this end result, the political movement dominated by extremist Sinhala-Buddhists is now destined to come to a historic end. The leaders, as well as the actors of this political movement, will lose their recognition soon. Inevitably, all of them will end up in being a source of anger and contempt of the majority Sinhala Buddhists. It is important that we understand that one ugly and gloomy era is coming to an end and it is time to herald a new era that is beautiful and fair.