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This will be carried out under the supervision of the Panel of Management appointed by the Monetary Board (Panel of Management), subject to several strict conditions, in the public interest and in the interests of the depositors of the Company.

This operation of the finance company is  limited for  period of three (03) months from 13th January 2021 to 12th April 2021, in terms of Section 31(5)(a) of Finance Business Act, No. 42 of 2011 (FBA), only for the purpose of repayment up to fifty percent (50%) of the remaining deposits of the Company (repayment plan), Central Bank announced on Tuesday (12).

Due to the various irregularities taken place and inability of the Board of Directors and the Senior Management of SFSP to address the resultant issues, the Monetary Board, on 02nd January 2018, issued Directions to the directors of the Company and appointed a Panel of Management to oversee the affairs of the Company.

Even though the Monetary Board directed the Board of Directors of SFSP to bring suitable investor(s) to revive the Company, no viable investment proposal was available and the financial condition of the Company continued to deteriorate.

In the meantime, 30% of SFSP deposits was repaid in 2018 and 2019. Having considered the continuously deteriorating financial condition and non-availability of a viable revival plan, the Monetary Board decided to suspend the business of SFSP in terms of Section 31(1) of FBA, with effect from 13th July 2020.

During the period of suspension, payment of compensation for the insured depositors under the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) was commenced Issued By Date through the island wide branches of the People’s Bank.

By end 2020, a sum of Rs. 834.1 mn has been paid for 25% of the insured depositors out of the total of 9,660, up to a maximum of Rs. 600,000/- per insured depositor. Such amounts cover 84.9% of the Rs. 982.9 mn of eligible compensation under SLDILSS.

Discussions with President Gotabaya Rajapaksa on handing over the Eastern Terminal (ECT) of the Colombo Port to India have concluded unsuccessfully and in a deadlock, trade unions said.

The much delayed but very much hyped “Park and Ride” facility is to be recommenced from this Friday in the New Year 2021 onwards, this time from the Makumbura Multimodal Transport Hub, the State Ministry of Vehicle Regulation, Bus Transport Services revealed.

“The collapse of this case marks yet another sorry milestone in the Sri Lankan authorities’ continued failure to ensure justice for crimes committed during the armed conflict. The Attorney General’s Office has not indicated any interest in re-opening the investigation into the murder.

“Those aligned with the state must not continue to enjoy impunity for historic abuses. Without accountability, Sri Lanka will never be able to turn the page on this dark chapter. The authorities must immediately launch a new thorough, effective and impartial criminal investigation and bring those responsible for Joseph Pararajasingham’s murder to justice.

“However, given the repeated failures of past domestic accountability mechanisms, we are not holding our breath. The international community must step up to end the cycle of impunity and advance accountability for human rights violations in Sri Lanka.”

Background

Joseph Pararajasingam MP was shot dead while attending mass at St Mary’s Church, Batticaloa on Christmas Eve 2005.

One of the five persons suspected of criminal responsibility for the murder was MP Sivanesathurai Chandrakanthan (alias Pillayan), the leader of Tamil Makkal Viduthalai Pulikal (TMVP), a government-aligned political party. The Criminal Investigations Department arrested Chandrakanthan in connection with the murder in 2015.

In February 2020, the Sri Lankan government withdrew its support for the UN Human Rights Council (UNHRC) resolution committing the country to promoting reconciliation, accountability and human rights.

The Eastern Container Terminal (ECT) in the Colombo Port is still under threat of being leased out to foreign companies by the government.

Accordingly, former general secretary Akila Viraj Kariyawasam has been appointed as the assistant leader while Palitha Range Bandara has been appointed as the new general secretary. Former minister Vajira Abeywardena has been appointed as the chairman and ASM Misbah has been appointed as the treasurer.

D. M. Swaminathan and Arjuna Ranatunga have been appointed as the senior vice chairmen of the UNP while Daya Gamage, Sagala Ratnayake, and Sunethra Ranasinghe have been appointed as vice chairmen.

Navin Dissanayake will retain his role as the national organiser of the UNP.

Meanwhile, Nalaka Kolonne has been appointed as the deputy secretary general of the UNP.

The Working Committee also approved the appointment of Dr. Karunasena Kodithuwakku as the head of the policy and research division.

Sandith Samarasinghe has been appointed as the secretary of the Committee on International Affairs and Local Government.

The mobile unit will administer PCR tests and provide vital health services to 100 people daily in Moneragala communities hit hard by the pandemic. The mobile unit enables safe sample collection by avoiding direct contact and can be used in future for testing other communicable diseases, including dengue.  

"By making COVID-19 tests and other health related services accessible to rural communities, the United States is helping mitigate some of the profound human and economic losses caused by the pandemic," said U.S. Ambassador to Sri Lanka Alaina B. Teplitz.

The donation was funded by the U.S. Government's development arm the U.S. Agency for International Development (USAID) through its Social Cohesion and Reconciliation project.  

The U.S. Government has provided USD 6 million in aid to reduce the spread of COVID-19 in Sri Lanka. The assistance is helping to prepare laboratory systems; activate case-finding and event-based surveillance; support technical experts for response and preparedness; support risk communication; and address infection prevention and control.

The Finance Ministry has been directed to streamline services of the Customs management and staff while improving productivity and modernisation of standard operating procedures.

 A letter sent by Presidential Secretary Dr. P.B. Jayasundera to the ministry emphasised the urgent need of commitment of all Custom employees to make a positive paradigm change in the department before the end of the first quarter this year.

The directive has come from President Gotabaya Rajapaksa informing that if they fail to comply, then he (President) would take alternate measures to restructure the organisation.

Dr. Jayasundera further pointed out that according to views and observations of various eminent persons in the import and export sector as well as comments of policy planners and audit inspections, no one can be satisfied with the present unpleasant situation of the department.

“It is really frustrating and not pleasurable,” he has stated in a strongly worded letter adding that no one can tolerate such a deplorable situation.

Various allegations have been leveled against Customs over alleged fraudulent transactions in import and export trade as well as private bonded warehouse dealings by businessmen in connivance with Custom officers.