NPP News

(-Colombo, November 11, 2024-)

Government to Compile Report on Loans Taken by Small and Medium Enterprises from Banks

A special meeting was held today (11) at the Presidential Secretariat to address relief measures for Small and Medium Enterprises (SMEs) facing financial challenges. The meeting was led by the Senior Additional Secretary to the President for Finance and Economic Affairs, Mr. G. N. R. D. Aponsu, and included officials from the Ministry of Finance, the Central Bank of Sri Lanka, and Sri Lanka Banks’ Association (Guarantee) Limited.

The discussions focused on the financial difficulties encountered by SMEs due to loan obligations.

Currently, debt recovery processes under the Parate law have been temporarily suspended for SMEs, with this suspension set to expire on December 15. The meeting considered potential steps that could be taken before the expiration date to further support struggling SMEs.

Attendees examined ways for the banking sector to provide additional support to SMEs and boost productivity in the economy. During the discussions, it was also decided to compile a comprehensive report on the loans taken by SMEs from banks. This report will serve as a basis for designing future relief measures.

Additionally, the Central Bank of Sri Lanka and various commercial banks are evaluating the steps needed for the temporary suspension of debt recovery under the Parate law for SME loans.

The discussion was attended by several key officials, including Mrs. R. R. S. De Silva Jayathilake, Director of Bank Supervision at the Central Bank of Sri Lanka, and Mr. A. M. A. D. Amarakoon, Senior Assistant Director at the Central Bank of Sri Lanka. Also present were representatives from the Sri Lanka Banks’ Association (Guarantee) Limited: Mr. Indrajith Boyagoda, Secretary General; Mr. Dilshan Rodrigo, Chief Executive Officer of Union Bank; Mr. Manoj Akmeemana, Senior Deputy General Manager of Sampath Bank; Mr. Sampath Perera, Deputy General Manager of Bank of Ceylon; Mr. Nalin Samaranayake, Assistant General Manager of Commercial Bank; Mr. Nirosh Perera, Chief Recovery and Rehabilitation Officer of Hatton National Bank; and Mr. Bingumal Thewarathanthri, Chief Executive Officer of Standard Chartered Bank.

(-Colombo, November 8, 2024-)

A special discussion was held today (08) at the Presidential Secretariat, led by Dr. Nandika Sanath Kumanayake the Secretary to the President, and attended by officials from the Irrigation Department, the National Water Supply and Drainage Board, and related Ministries. The meeting focused on determining if the Salinity Barrier is indeed contributing to the floods leading to agricultural damage.

It was decided that a thorough study is necessary to address these concerns and that the Engineering Department of the University of Peradeniya will assist in this investigation. The Secretary to the President supported this proposal and directed the officials to create an action plan based on the findings from the study.

Additionally, officials reported that saltwater intrusion has adversely affected livelihoods, with many residents losing farmland. The Secretary highlighted that restoring normal conditions is both a government and official responsibility and directed further action to address flooding in the Matara area.

Dr. Nandika Sanath Kumanayake has instructed officials to prepare a proposal based on a study by the Faculty of Engineering at the University of Peradeniya. The solutions derived from this report will guide the second phase of the project, with necessary funding requests to be submitted.

He also emphasized the importance of implementing a structured flood management plan for the Matara district and directed the coordination between the Irrigation Department and Water Supply and Drainage Board to establish a sustainable flood management plan in Matara.

The Secretary noted that there have been complaints from residents by the river banks regarding the adverse effects of the salinity barrier, which has led to the loss of farmland and livelihoods along the Nilwala River. He stressed that it is the government’s responsibility to address this issue urgently and to restore normalcy. Additionally, he directed officials to continue working towards solving the flooding issue in the Matara region.

(-Colombo, November 1, 2024-)

• Initiatives to Strengthen Long-Standing Friendship between Sri Lanka and the Maldives

A meeting between Secretary to the President Dr. Nandika Sanath Kumanayake and High Commissioner of Maldives to Sri Lanka H.E Masood Imad at the Presidential Secretariat, today (30).

During their discussion, the High Commissioner conveyed the Maldivian President’s intention to visit Sri Lanka soon. They also explored ways to further enhance the long-standing friendship between the two nations.

The conversation touched on various areas of mutual interest, including the development of tourism, health, and education in both Maldives and Sri Lanka.

Deputy High Commissioner of Maldives to Sri Lanka Mrs. Fathimath Ghina was also present at the meeting.

(-Colombo, November 1, 2024-)

President Anura Kumara Dissanayake has appointed Dr Hans Wijayasuriya as the Chief Advisor to the President on Digital Economy. President Dissanayake has espoused and reiterated a bold vision and personal commitment to elevate Sri Lanka’s digital economy to a level on par with the most advanced nations in the region, envisaging acceleration of economic growth, national competitiveness and delivery of tangible benefits to all citizens.

The Government is strongly committed to multi-sectoral digital transformation through the elevation of Sri Lanka’s information and communication technology and digital infrastructure sectors to global standards, and the establishment of Digital Public Infrastructure (DPI) to deliver inclusive citizen empowerment. The government plans, accordingly, to exploit technological advancement to enable the capture of leap-frog opportunities with respect to economic and social development leading to a progressive digital economy and an enhanced quality of life for all citizens. Dr Wijayasuriya’s appointment is a key move with regard to bringing to fruition the above vision.

Dr Wijayasuriya, a renowned figure in the ICT landscape internationally, is currently the Chief Executive Officer of Telecommunications Business and Group Executive Director at Axiata Group Bhd, a position he has announced he will step down following a transition period.

During this period, Dr Wijayasuriya will lead the Board of the ICTA in the capacity of Non-Executive Chairman, enabling the activation of programme planning and preparation activities related to the ambitious digital transformation aspirations of the GoSL. He will subsequently take up several executive leadership roles within the institutional framework related to the digital economy following relevant legislative enactment. These include Secretary of a newly constituted Ministry of Digital Economy under the direct purview of the President, and Chair of the Digital Economy Authority, an apex body that will be mandated to oversee Digital Economy Acceleration.

(-Colombo, November 1, 2024-)

• Implementing a Strategic Approach to Digitize the Rice Storage System
• Initiatives Aimed at Stabilizing Rice Prices and Addressing Long-Term Supply Shortages

A discussion on the digitalization of social welfare benefit programs took place at the Presidential Secretariat today (01) under the patronage of President Anura Kumara Dissanayake.

The meeting emphasized the significance of digitizing the paddy storage system as a means to stabilize rice prices and address long-term solutions for the rice shortage. It also focused on the digital transformation, “Aswesuma” and social welfare programs aimed at supporting low-income families.

Additionally, the group discussed plans for digitizing the relief distribution program for children from low-income families in the upcoming school term and the fertilizer subsidiary distribution.

Group Chief Executive at Dialog Axiata PLC Supun Weerasinghe, Chief Technology Officer at Millennium IT ESP. Mahesh Wijenayaka and a panel of field experts were also part of this discussion.

(-Colombo, October 31, 2024-)

This festival represents hope, joy, and the triumph of good over evil, bringing communities together in a spirit of unity and celebration.

In Sri Lanka, the people have been searching for light in the dark for decades after gaining independence. Now, fresh hope is emerging as the realization of their long-held hopes. We have entered an era of renaissance, where the aspirations of the people, which were suppressed by past rulers, are finally coming to the forefront.

Several legends inspire the celebration of Diwali. Among them is the return of King Rama, Sita, and Lakshmana to Ayodhya after their fourteen-year exile. Another story is the defeat of the Asura Narakasura by Lord Vishnu. These significant events are remembered and honoured by Hindu devotees during this vibrant festival.

Only the light of science can dispel the darkness of ignorance. Therefore, I urge everyone to light the Diwali of wisdom this year. Let this Diwali be a precious occasion for Sri Lankans to embrace a new way of thinking, fostering enlightenment and progress for all.

Let us appreciate the beauty of cultural diversity by extending respect, acceptance, and brotherhood toward one another. The time has come for the Sri Lankan nation, which has faced attempts at division and weakening, to stand undivided and strong. By rooting out injustice, discrimination, marginalization, hate speech, and violence, we can lead the way in ending the political culture that creates divisions and fosters inequality between the privileged and the underprivileged.

I invite everyone to join in creating a new cultural existence that embodies compassion and critical thought. This Diwali, I emphasize the importance of a cultural, political, and attitudinal transformation if we are to realize our hope of a prosperous country and a fulfilling life for all.

On this day of Diwali, just as the light of countless lamps illuminates homes may the light of harmony and wisdom spread in the hearts of everyone.