President Ranil Wickremesinghe emphasised that Sri Lanka has demonstrated a strong commitment to addressing climate change goals. Going forward, Sri Lankan architects will play a pivotal role in this endeavour. They will need to integrate climate change criteria into their designs, ensuring that the built environment aligns with sustainable and environmentally responsible practices. Integrating sustainable and environmentally conscious practices into our architectural designs will be instrumental in achieving our climate goals ahead of the set timeline. Also, together, we can build a resilient and environmentally friendly future for Sri Lanka, contributing to global efforts to combat climate change and protect our planet for generations to come.

The President further mentioned prominent examples of significant architectural achievements such as the grand dagobas, including Ruwanwelisaya, Abhayagiri, and Jetavanaramaya, as well as iconic structures such as Sigiriya, which stand as prime examples of exceptional architecture recognised worldwide. These architectural marvels are further exemplified by the structures found in Polonnaruwa. Notably, even during a period of decline, architectural endeavours persevered, evidenced by the expansion of the Dalada Maligawa with its octagonal design, and the construction of the Kandy Lake under the reign of the last king.

President Wickremesinghe further stressed that, throughout history, Sri Lanka has showcased its architectural prowess, evident in remarkable structures such as the Trinity College Chapel, Kelaniya Vihara, Lake House building, Peradeniya University, Independence Square, and the Art Gallery, among others. The iconic Parliament building designed by Jeffrey Bawa, has added to this rich architectural heritage.

The President emphasised that, if remarkable architectural feats were accomplished 2,000 or 1,000 years ago, there is no reason why the same level of excellence cannot be achieved in the present and in the future. The responsibility to create a lasting impact through architecture was entrusted to the Architects.

President Ranil Wickremesinghe made these remarks at an international conference on Architecture, organised by the Royal Institute of British Architects (RIBA) Sri Lanka Chapter, in collaboration with the American Institute of Architects (AIA) and the Italian Embassy of Sri Lanka, on the theme: “Architecture: A Lasting Impact,” held on Saturday (5) at Cinnamon Grand, Colombo.

The vision to transform Colombo into a beautiful city is already in motion, with plans provided by Surbana Jurong Pvt Ltd, a Singaporean government-owned international consultancy company focusing on infrastructure and urban development. Similar plans have been prepared for Trincomalee, aiming to enhance the development in that region as well. Additionally, Surbana Jurong is actively involved in creating a tourist zone from Verugal Aru to Batticaloa and Arugam Bay areas, contributing to the growth of the tourism industry.

The focus on expanding the tourist industry is expected to create opportunities for non-government universities in Sri Lanka. The recent enactment of the new Act, allowing provincial councils to establish universities, marks the beginning of this endeavour. There is a growing need for skilled professionals, including engineers, architects, IT specialists, and others, with the demand estimated to be at least 10,000 engineers alone.

To address these requirements, discussions are underway with Japan, which has shown a willingness to assist, as in the past. Despite challenges posed by the recent crisis, the commitment to progressing these plans remains strong, with the hope of securing the necessary support to meet the country’s developmental needs.

Envisioning the future, the potential for architects to participate in the development of the Port City holds significant promise. A notable portion of the Port City land is under government ownership and is slated for diverse utilization. The involvement of the private sector in this initiative offers an added avenue to harness architectural expertise. This exploration requires collaborative dialogues involving relevant chambers and stakeholders.

These emerging opportunities symbolise valuable prospects for Sri Lanka. Seizing these chances has the potential to establish a notable standing for the nation. It’s imperative to acknowledge that as India’s progress persists, architectural possibilities might also arise there. Those with established recognition could potentially tap into this market, mirroring the engagement of architects in Africa for house design.

Effectively orchestrating these prospects is critical for architects’ personal growth and the broader advancement of the discipline. By tapping into these potentials, Sri Lankan architects can substantially contribute to the country’s advancement, while carving an illustrious identity for themselves on both regional and global platforms.

The President acknowledged that his expertise lies primarily in the field of the economy and not architecture. As the discussion revolves around architecture and the lasting impression it creates, the President opted not to delve into the topic extensively. It was emphasized that ancient architects achieved the task of leaving a lasting impression through their work.

Numerous architects have contributed to this legacy with their creations. However, the present challenge lies in not only preserving this rich heritage but also elevating it to meet global standards. This endeavour comes at a time when the construction industry is facing a downturn, a consequence of the recent crisis. Over the past two years, this sector has experienced significant setbacks, resulting in the unfortunate loss of numerous jobs and a noticeable reduction in available projects. However, amidst the challenges faced by the construction industry, the country now stands at a critical juncture. The last two years have witnessed a downturn in the construction sector, leading to job losses for many and a decline in available projects. Despite these difficulties, there is a pressing need to preserve and elevate this architectural legacy to international standards.

The future lies in how the nation can continue its architectural journey and build upon its heritage to create structures that not only exemplify Sri Lanka’s identity, but also meet global standards. Emphasising innovation and creativity will be crucial in revitalising the construction industry and rekindling its growth for a promising future.

In the past, the economy predominantly revolved around concrete-based development, primarily directed at infrastructure such as roads and irrigation projects. However, the resulting debt burden has contributed to the current crisis. This situation doesn’t mandate a complete halt to construction; rather, economic restructuring calls for a shift in focus to other sectors. While revitalising construction is desired, it may not reach previous levels. Furthermore, there’s a need to encourage our construction companies to explore international opportunities.

As part of this approach, the government is looking to involve private companies in building homes and structures. This is just the beginning. It will create more affordable housing for people of low and middle incomes. Government land that’s worth more than the buildings on it, can be used for this purpose, while relocating people there, and give the land to private companies to build affordable homes and apartments. This will also free up space in Colombo for other developments. It’s like a cycle – more buildings, more possibilities. Imagine what could happen if they repurpose places such as Welikada Prison or even the railway area. Certain buildings on Mount Mary can be retained, while the rest can be used for new projects. Many areas could benefit from this. And the cost of land today makes it feasible. The Treasury is working on the details to start next year or the year after, as the economy strengthens, this could become a reality.

The government is actively engaged in the promotion of tourism, with a target of increasing tourist arrivals from 2.5 million to 5 million, and potentially up to 7.5 million. This endeavor entails diverse categories of accommodations, including various styles of bungalows. The restoration of historical structures to create smaller boutique hotels and the revitalisation of larger hotels in various regions across the country represents a significant focus area. This ambitious goal involves doubling the existing capacity. It’s important to note that the majority of this expansion will be realised through the construction of new buildings or the renovation of existing ones, thereby offering yet another avenue for the involvement of architects.

A third strategic initiative involves the expansion of our existing investment promotion zones, with current discussions revolving around the establishment of expansive zones spanning thousands of acres, which will be gradually opened up. This expansion is set to facilitate the construction of additional factory buildings to accommodate growing industries. With Sri Lanka’s increasing role as a logistical hub, there will also be a heightened demand for logistics buildings, which are relatively straightforward to design.

These represent just a few of the concepts we’re considering. As the economy gains momentum, it’s likely that we’ll witness an increase in the construction of skyscrapers, high-rise structures, and residential homes. However, strategic planning is crucial to determine the locations, methods, and integration with our evolving transportation system. This is the direction I envision for the future, and it’s where our dedicated efforts must be focused.

The re-planning of Kandy Town to potentially extend its boundaries up to Teldeniya, along with considerations for incorporating Peradeniya and potentially Talatu Oya, are subjects currently under committee deliberation. The committee will be responsible for making informed decisions regarding these proposals. Notably, the extension of the new town and bridge to Peradeniya is viewed as a significant priority. These opportunities signify important prospects for development. Similarly, Galle is engaged in evaluating the enhancement of its urban landscape, particularly the sea frontage.

Additionally, it is likely that other regions, such as Nuwara Eliya town, will also require reimagining and redesigning in new locations. This presents a significant task. The pertinent question is whether we are prepared to embrace this challenge, which we must undertake. Collaboration with international counterparts will also be essential for successful execution.

The impending tasks are undoubtedly of substantial magnitude. However, there is another crucial aspect that warrants attention. Sri Lanka remains steadfast in its commitment to climate change objectives. Notably, upon assuming leadership, adjustments were made to hasten the timeline from 2060 to 2050 for achieving climate change targets. Recent discussions at a UN session, prompted by the concerning fires in Europe, have spurred a re-evaluation of this timeline. There is a contemplation of expediting these efforts even before 2050. This endeavor’s feasibility rests, in part, upon available resources. Consequently, architects now face the imperative of aligning their designs with climate change criteria, marking a significant shift in their role and responsibilities.

Reflecting on the past, Jeffrey Bawa’s remarkable work, such as the Kandalama project, highlights a growing trend of impressive designs in various scales. Sri Lankan architects are excelling in creating climate-responsive buildings, outperforming their counterparts elsewhere. Future laws and regulations will demand climate-adaptive constructions. An innovative concept emerges: establishing the International Climate Change University, comparable in size to Peradeniya University, within the former Kotmale Skanska camp. This presents significant opportunities. Presently, architects have a mission: leaving a lasting impact, reminiscent of historical achievements. The ability to achieve greatness in the past prompts a pertinent question: Why not now and in the future? This call is directed towards those pioneering architectural progress. The blueprint is set, and the drive to establish an enduring legacy rests with the architects of tomorrow.

Deputy Chief of Mission U.S. Embassy, Douglas E. Sonnek, Acting British High Commissioner to Sri Lanka, Lisa Whanstall, Representatives from the Italian Embassy in Colombo, and nearly 350 people, including architects from Sri Lanka and South and Southeast Asia, attended the event.

The ‘Yal Nila’ special luxury train from Mount Lavinia to Kankesanthurai commenced operations on Friday night.

Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana who joined in Yal Nila’s inaugural journey having a conversation with a group of passengers.

Formulation of a new Medical Act within six months :

Proposal to be drafted for establishing WHO standard benchmark level 4 lab facility:

President Ranil Wickremesinghe led a follow-up meeting at the Presidential Secretariat to bolster the nation’s healthcare system. He directed the formulation of a new Medical Act within six months with the aim of addressing shortcomings in the present Medical Ordinance and thereby provide better healthcare and protect citizens’ well-being.

A high-level Committee, consisting of the Secretary of Health, Legal Draftsman and President of the SLMC, was assigned to examine the provisions of the Medical Ordinance and formulate a new Medical Act with appropriate provisions.

To address immediate medical needs, an additional allocation of Rs. 30 billion was approved for medical supplies under the Provision to Ministry of Health, sufficient for the next three months.

On President Wickremesinghe’s directions to the NMRA to expedite the approval process for FDA-approved drugs and reference drugs from other countries that collaborated with the Health Ministry, the NMRA sought to obtain Cabinet approval to make the necessary amendments to the NMRA Act that will ensure faster access to critical medications.

The meeting resolved the issue of staff shortage at the NMRA. The President called for a detailed report to strengthen the role of the National Medicines Regulatory Authority (NMRA) in regulating medical products and ensuring public health safety.

Efforts to improve medicine distribution and inventory management were discussed, with the President emphasizing the need for a web-based system to provide real-time information on available medicines and their distribution among hospitals with immediate effect as discussed during the meeting two weeks ago.

A five- member committee led by A.K.Seneviratne, Deputy Secretary to the Treasury was appointed to, among other tasks; devise a simple and transparent scheme for the procurement of quality drugs and medical devices.

The Ministry of Health requested the Department of Management Services to amend the Service Minute to align nurse recruitment qualifications with current healthcare requirements. The President urged health officials to consider recruiting and training individuals with Arts and Commerce Stream qualifications as nurses.

Additionally, the President instructed the Health Ministry and NMRA to draft a proposal for establishing WHO standard benchmark level 4 to assess the quality, safety and efficacy of medical products.

The Chief of Presidential Staff and Senior Adviser on National Security to the President Sagala Ratnayake emphasized to the health officials to immediately submit a list of unusable hospital equipment and equipment or related materials or goods that will expire or be removed within two years.

The meeting concluded with a commitment to promptly implement the proposed reforms, aiming to build a robust and accessible healthcare system for all citizens.

Prime Minister Dinesh Gunawardena, Health Minister Dr. Keheliya Rambukwella, Chief of Presidential Staff and Senior Adviser on National Security to the President Sagala Ratnayake, Secretary to the President Saman Ekanayake, Secretary to the Prime Minister Anura Dissanayaka, Secretary to the Ministry of Health Janaka Sri Chandraguptha, Director General of Health Services Dr. Asela Gunawardena, Health officials and Finance Ministry officials attended the meeting.

Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana shares a light moment with UNDP Sri Lanka Resident Representative Azusa Kubota while Ministry Secretary Anusha Palpita looks on.

Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana said yesterday that his endeavour as a Media Minister is to create a win-win situation concerning responsible journalism and countering misinformation, disinformation and hate speech through a process of consultation, compromise and co-regulation.

“We need to safeguard freedom of expression while upholding the age-old journalistic dictum ‘news is sacred; comment is free’. Minister Dr. Gunawardhana made the keynote address at the workshop

on Media Capacity Building and the Meeting of Media Administrators organized by the United Nations Development Progrmme (UNDP) in partnership with the Ministry of Mass Media.

The Minister said:I understand the current series of workshops is part of the broader project known as “Countering Hate Speech Through Education and Advocacy for Improving Social Cohesion in Sri Lanka”, assisted by the UN Peace Building Fund and presented through the UNDP. It aims at enhancing the capacities of both journalists and media administrators of the country on responsible journalism and identifying and countering misinformation, disinformation and hate speech.

“I am of the view that this project is being implemented and the two-day workshop that begins today takes place at an opportune moment in the history of our country as we are slowly but steadily recovering from the unprecedented economic crisis since our independence that has caused political upheaval as well. Although we can see the distant light at the end of the tunnel turbulent times are far from over. Steering the country and the economy on the right path while ensuring democratic governance, stability and welfare of the people is an arduous task which requires positive contribution from all stakeholders especially the mass media. That is where responsible journalism matters most. Accurate and balanced reporting backed by constructive criticism is an essential ingredient for the success of this endeavour.

“We have suffered enough from the damage and harm resulting from misinformation,disinformation and hate speech, carried out wittingly or unwittingly, in the recent past. This dangerous practice must be put to an end for the good of all. However, it cannot be and shouldn’t be done by imposing restrictions on the mass media from above. That is not only undemocratic, unethical and immoral but also a remedy worse than disease,”he said.

As the Minister in charge of the subject of mass media my endeavour is to create a win-win situation concerning responsible journalism and countering misinformation, disinformation and hate speech through a process of consultation, compromise and co-regulation. We need to safeguard freedom of expression while upholding the age-old journalistic dictum ‘news is sacred; comment is free’. As I see one remarkable feature of today’s workshop is that it brings together owners of media organizations who make decisions, executives who implement and academics who guide, on one platform. I hope that they will discuss, debate and compromise on the best practices to be adopted.

In conclusion I extend my sincere thanks and appreciation to Azusa Kubota, Resident Representative, UNDP leadership and guidance in the Media Capacity Building project and financial assistance for the same. UNDP since its presence in Sri Lanka in 1967 has provided grant aid, expert advice and modern equipment to the country’s main development sectors

such as economic planning, health, education, the legislature, the judiciary and now communication and information to name a few.

I commend the valuable contribution made by my own staff led by the Mass Media Ministry Secretary in organizing the two-day workshop.

Meanwhile, Resident Representative UNDP Sri Lanka Azusa Kubota said she acknowledges the incredible transformational journey that the Sri Lankan media landscape has undergone over the years.

She said: Currently, there are 34 licensed electronic media companies and 7 print media companies that publish 29 national newspapers altogether with a wide array of provincial media platforms as well as social media platforms.

The growth of private media companies since the 1990s has contributed to a more pluralistic and diverse environment. And this development has opened avenues for more independent and investigative journalism.

Private media companies also brought fresh perspectives, innovative content, and diverse programming, which in turn provided the viewers with a wider range of opinions and views.

This pluralistic media landscape continues to evolve and mature, while responding to the changing needs and interests of the Sri Lankan audience at this critical juncture of history for the country. As the country requires collective efforts to ensure steady and impactful recovery from the crisis, the media industry plays a crucial role in shaping public discourse and promoting united action towards peace and prosperity.

Noting the important role that the media plays, UNDP has always valued our partnership with all of you as indispensable partners through our journey in pursuing sustainable and inclusive development. Our purpose here today is to examine how we can adopt some of the international, regional, and local practices to further enhance the commercial viability and enterprising nature of a fast-growing media industry.

This dialogue today comes at a time when the UN and the global community are gearing towards the historic event, the SDG Summit, planned for September in New York. The world is faced with poly-crisis, characterized by a confluence of crisis, be it climate change, prolonged war in Ukraine and its consequences on energy, food prices and migration, and many others.

The world is becoming ever more polarized and divided, and the trust in institutions is diminishing. And the space for genuine dialogue is shrinking. The Summit will aim to gauge high level political commitment and investments to turn the course of action. How do we make the necessary turn at the time of fiscal crisis that most governments around the world are faced with? I am sure you agree the picture looks very similar for Sri Lanka.

Protecting and promoting the economic, social, and human rights of the people requires the whole of the society commitment. And the media plays an important role in shaping the discourse and facilitating impactful actions at all levels, and shedding the lights on those who act.

I was recently in the Jaffna University and was truly inspired by the students who are trying everything they can to support the communities to get through difficult times. I saw the same with more than 500 youth across the country who participated in the Youth Community Leadership Prgramme supported by the government, WHO, UNV and UNDP. They demonstrated leadership to resolve challenges in the communities within their means while demonstrating incredible leadership. Their stories must be told to inspire.

As a member of the United Nations system, UNDP is deeply committed to a fundamental human right stated in Article 19 of the Universal Declaration of Human Rights.

To foster a society based on compassion, respect, tolerance, non-discrimination, pluralism, and freedom of opinion and expression, we also draw inspiration from the United Nations Secretary General’s Plan of Action on Hate Speech which calls for the strengthening of partnerships with new and traditional media to counter hate speech narratives and promote our shared values.

At the time of the polarization that the global community is faced with, we need to promote a safe space for open dialogue, underpinned by respect for diversity, so that we can collectively identify challenges, solutions, and actions to combat climate emergency and economic crisis. This is the only way through which we can ensure that no one is left behind.

When hate speech permeates media platforms, it can further fuel mistrust, discrimination, and social divisions, and at times disturbances.

It is not always easy to strike a delicate balance between giving a safe space for dialogue and expression and curbing hate speech. However, while safeguarding the right to freedom of expression, we must also be vigilant in preventing the spread of hate speech and disinformation.

On the other hand, we must be cautious not to use the issue of hate speech and disinformation as a pretext for excessive regulation, which could undermine the free media space and compromise the principles of a democratic society.

We all need to work towards fostering a media environment that promotes ethical and responsible journalism, based on facts and accurate information.

I look forward to your active participation in the discussions. Please share your insights, and I am confident you will make meaningful contributions to the formulation of a roadmap for which you will feel ownership and be an integral part of its implementation.

You all play an important role in fostering understanding, harmony, and prosperity as the global community grapples with formidable challenges.

• Emphasizes Government’s Support While Ensuring Commission’s Full Authority and International Accountability Process.

During a discussion held at the Presidential Secretariat yesterday (26), Mr. Ali Sabri, Minister of Foreign Affairs, highlighted the significance of establishing a Truth-Seeking Commission to address the ethnic problem’s impact on affected communities. He stressed that the commission should operate independently, with the government’s role limited to providing necessary support and facilities.

Once established through an act, the truth-seeking commission will be granted full authority. To promote its implementation, Minister Ali Sabri announced the organization of international forums. The Cabinet-approved Interim Secretariat is expected to lay the groundwork for expediting the commission’s operations.

Minister Ali Sabri Briefed Trade Unions and Civil Organizations on the Truth-Finding Commission at a discussion held at the Presidential Secretariat yesterday.

The Minister acknowledged the importance of an internationally recognized accountability process and assured that the government is committed to creating such a mechanism. He pledged to take all essential steps to instil confidence in the truth-seeking commission.

Mr. Saman Ratnapriya, Director General of Trade Unions to President Wickremesinghe, also expressed his views during the discussion. He pointed out that the three-decade-long war had caused extensive damage throughout the country as a whole, and there is a pressing need for a thorough investigation. He noted that previous commissions’ proposals on this matter were not adequately implemented, leading to the consideration of models from countries like South Africa to devise a suitable mechanism for Sri Lanka. Mr. Ratnapriya emphasized that informing society about the commission and garnering support for its implementation is vital to prevent the country from facing further difficulties.

Also addressing the event, Mr. Asanga Gunawansa, the Director General of the Truth and Reconciliation Commission, drew attention to Singapore’s remarkable transformation into a developed country through reconciliation, two decades after gaining independence. He underscored that reconciliation is an indispensable factor for Sri Lanka’s own development. Mr. Gunawansa highlighted the commission’s potential to create an environment where the unfortunate past would not be repeated.

To support the establishment of this commission and contribute to a locally effective and internationally recognized mechanism, three divisions have been set up: the Interim Secretariat, Legal and Policy Division, and Public Relations Division, along with the Information Technology Division.

The event witnessed the participation of numerous representatives from trade unions and civil organizations.

• To sustain the provincial council system in the future, existing shortcomings must be rectified.
• The responsibility of formulating laws solely lies with the Parliament and his role is limited to presenting proposed laws on behalf of the country – President tells the All-Party Conference.

During the All-Party Conference at the Presidential Secretariat today (26), President Ranil Wickremesinghe stressed the significance of discussing the 13th Amendment to the Constitution with all parties, as it is a matter that affects the entire country. He highlighted that a decision on this matter should involve input from all relevant parties.

The conference was organized to update the Parliament’s party leaders on the National Reconciliation Program and the North-East Development Plan.

President Wickremesinghe recalled that neither he nor the previous seven Executive Presidents had the authority to pass new laws to address existing problems; that power rested solely with the Parliament. He asserted that he was bringing forth relevant proposals for the betterment of the country, but the responsibility of implementing them lay with all the representatives in the Parliament, as he alone couldn’t achieve it with his single vote.

The President noted that seven out of the nine provincial councils were located in areas with a majority of Sinhalese. If the provincial council system were to be maintained, he emphasized the need to address the shortcomings that had already been experienced. He suggested granting provincial councils powers over subjects currently under the central government, including grassroots activities like agriculture and tourism.

According to President Wickremesinghe, the central government should formulate policies for the country, while provincial councils should provide the necessary facilities for the successful implementation of development activities in all fields. Collaboration between all parties and levels of government was crucial for progress and development.

In addition, President Ranil Wickremesinghe called for collective discussions among all parties to decide on granting police powers to the Provincial Councils as outlined in the 13th Amendment of the Constitution.

Furthermore, President Wickremesinghe proposed arrangements that would allow members of the Provincial Councils to concurrently hold positions and be appointed as Members of Parliament, while members of Parliament could also serve as members of the Provincial Councils.

Prime Minister Dinesh Gunawardena, Speaker Mahinda Yapa Abeywardena, Opposition Leader Sajith Premadasa, Former President Maithripala Sirisena, Tamil National Alliance Leader and Member of Parliament R. Samppanthan, M. A. Sumanthiran, General Secretary of the Sri Lanka Podujana Peramuna and Member of Parliament Sagara Kariyawasam, as well as other Members of Parliament such as Dallas Alahapperuma, Wimal Weerawansa, Gevidu Kumaratunga, Vasudeva Nanayakkara, Udaya Gammanpila, Sarath Weerasekera, Venerable Athuraliye Rathana Thero, Weerasumana Weerasinghe, Anura Priyadarshana Yapa, C.V. Vigneswaran, and Lakshman Kiriella, participated and expressed their views during the event. Numerous party leaders and representatives from various parties were also present at the occasion.

• Rs. 10 billion rupees for the modernization of postal service

Japanese Ambassador Mizukoshi Hideaki hands over the Technical Standards prepared by Japan on the Digital Terrestrial Television Broadcasting DTTB project to Minister of Transport, Highways and Mass Media Dr. Bandula Gunawardhana. Mass Media Ministry Secretary Anusha Palpita, JICA Sri Lanka chief representative Tetsuya Yamada and other officials are also participated.

President Ranil Wickremesinghe visited the historic Kataragama shrine and actively participated in religious rites yesterday (03). During his visit, he met with Venerable Kobawaka Dhamminda Nayaka Thera, the Chief Incumbent of the Kiriwehera Viharaya, and had a brief conversation, inquiring about his well-being. The President then joined the religious rites conducted at the Kiriwehera Seya and received blessings.

A significant highlight of the President’s visit was his participation in the final day of the Kataragama annual Esala Maha Perahara. He had the honour of placing the casket on the ceremonial elephant, Kandula, symbolizing the commencement of the Perahara. Additionally, President Wickremesinghe sought blessings at the Kataragama Saman Maha Devalaya.

Several dignitaries accompanied the President during this event, including his Senior Adviser on National Security and Chief of Presidential Staff, Mr Sagala Ratnayake, Minister of State Mr Shashendra Rajapaksa, former Basnayaka Nilame of Kataragama Temple, Member of Parliament Mr Milan Jayathilaka, Thai Ambassador to Sri Lanka Mr. Poj Harnpol, former Colombo Municipal Councilor Mr Kitsiri Rajapaksa, and several others.

Decisions taken by the cabinet of Ministers on 26.06.2023

• Will not affect the banking system stability or the stability of any public or private bank.
• Will not affect any interest on bank deposits of over 50 million depositors that is currently being paid.
• Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet tomorrow – Says President in Gampaha.

President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected in any way.

Furthermore, the President stated that the restructuring of domestic debt will not pose any threat to the stability of the country’s banking system, whether it be public or private banks. He specifically mentioned that the deposits of more than 50 million bank depositors will remain unaffected, and there will be no changes to the current interest rates paid on bank deposits.

President Ranil Wickremesinghe also announced that proposals for restructuring both foreign and domestic debt will be presented to the Cabinet tomorrow (28).

The President made these statements while inaugurating the Gampaha District Secretariat Administrative Complex, ‘Laksiyane Mandiraya,’ which has been constructed with the aim of providing efficient and regular government services to the people of the Gampaha district. The complex, with an expenditure of nearly Rs. 4 billion, stands at seven stories tall.

It was highlighted that Sri Lanka’s total public debt, comprising both domestic and foreign debt, amounted to $83,700 million by the end of 2022, representing 128.3% of the Gross Domestic Product (GDP). Of this amount, the foreign debt totalled $41,500 million, accounting for 63.6% of the GDP. The President also noted that the domestic debt at that time stood at $42,100 million, which constituted 64.6% of the GDP.

The President highlighted the urgency of restructuring the country’s debt, stating that without such measures, the public debt would exceed 100% of the GDP by 2035. He emphasized that foreign creditors have already expressed their agreement to participate in the debt restructuring process.
To ensure debt sustainability in Sri Lanka, the President emphasized the need for restructuring both external and domestic debt. Acknowledging the significant burden carried by foreign creditors, he mentioned that the country is set to receive 17 billion US dollars from them in the next five years. The President emphasized the importance of local creditors also contributing to this effort.

The proposed debt restructuring plan has been designed with the primary objective of safeguarding the public’s bank deposits. The President underlined the responsibility of protecting the depositors of all banks regulated by the Central Bank. He assured that the proposed domestic debt restructuring method poses no harm to bank depositors and will not lead to a collapse of the banking system. On the contrary, it will pave the way for a restructuring process that can rebuild the economy.

The President further stated that the country’s economic recovery, reduction in interest rates, the government’s ability to provide subsidies easily, and the reduction of both domestic and foreign debt burden in the next decade will yield positive results benefiting the people of the country.

During his official visit to France, the President engaged in discussions with Commonwealth Secretary General Patricia Scotland, International Monetary Fund Managing Director Kristalina Georgieva, Netherlands Deputy Prime Minister and Finance Minister Sigrid Kaag, American Treasury Secretary Janet Yellen, and Japanese Foreign Minister Yoshimasa Hayashi regarding foreign debt restructuring. The President highlighted the progress being made in Sri Lanka’s financial sector during these discussions. He expressed satisfaction that they were all eager to assist in reversing the crisis in Sri Lanka and affirmed their commitment to contribute significantly to the country’s economic recovery.

The President also said that during a recent telephone conversation with the Indian Finance Minister, Mrs. Nirmala Sitharaman, she had expressed her country’s intention to positively contribute to Sri Lanka’s debt restructuring and economic stability. The President said that he would hold detailed discussions on the matter during his upcoming visit to India.

The President also mentioned that Foreign Minister Ali Sabri, who is currently on an official visit to China, has agreed to enhance bilateral relations and strengthen economic ties between the two countries. Minister Sabri held fruitful discussions with China’s Foreign Minister, Mr. Qin Gang, sharing their views on deepening cooperation.

President Ranil Wickremesinghe further revealed that, during a meeting with the Chinese Finance Minister, Liu Kun, in Beijing, he was briefed on the economic stabilization and progress plan of the country. Minister Ali Sabri expressed gratitude for China’s special contribution during the previous crisis.

During the visit, the President held discussions with the Chairman of the Chinese Exim Bank, Wu Fulin, and other Chinese officials appointed for the purpose of restructuring Sri Lanka’s foreign debt. They assured their commitment to contribute to the debt restructuring process in the best possible manner.

The event was attended by Prime Minister Dinesh Gunawardena, Ministers Prasanna Ranatunga, Nalin Fernando, State Ministers Shehan Semasinghe, Prasanna Ranaweera, Sisira Jayakodi, Lasantha Alagiyawanna, Janaka Wakkambura, Gampaha District Development Committee Chairman and Members of Parliament Sahan Pradeep, Nimal Lanza, Sudarshanee Fernandopulle, Milan Jayathilaka, President’s Senior Adviser on Climate Change Ruwan Wijewardena, Western Province Governor Roshan Gunathilaka, and other dignitaries.

Transport, Highways and Mass Media Minister Dr. Bandula Gunewardhana and Minister of Tourism and Lands Harin Fernando were the Chief Guests at the final day of the ‘Industry 2023’ National Industry Exhibition held at the BMICH yesterday.

The exhibition which began on June 22 to coincide with the the National Industry Day ended yesterday.

The Government also announced a National Industry Week from June 22 to 28 and the Ministry of Industry and the Industrial Development Board jointly held the exhibition in line with the programme to move the country towards an export-oriented manufacturing economy.

The opening ceremony of the ‘Industry 2023’ exhibition was held at the invitation of the Minister of Plantation Industries and Industries Dr. Ramesh Pathirana, headed by Prime Minister Dinesh Gunawardena, Minister of State for Small and Medium Enterprise Development Prasanna Ranaweera and Minister of State for Primary Industries Chamara Sampath Dasanayake and other distinguished ministers and foreign ambassadors.