<ul><li>NSO insists it never requested a tariff hike</li><li>Rs. 117.3 b generation cost forecast under dispute</li><li>Dec. generation costs forecast to surge by 34%</li><li>Rs. 36.3 b for coal, Rs. 28.5 b for furnace oil generation</li><li>Minister questions PUCSL’s decision to proceed with tariff consultation</li></ul>&nbsp;A dispute has emerged between the Public Utilities Commission of Sri Lanka (PUCSL) and the National System Operator (NSO) over a proposed electricity tariff increase for the final quarter of 2026, with the regulator’s financial assessment projecting a Rs. 4.4 billion revenue shortfall while the NSO maintains that no tariff revision is necessary and that the electricity sector will break even.The disagreement has raised questions over the financial projections used by the PUCSL to justify a proposed tariff adjustment, particularly after the NSO disputed reports that it had requested an increase and maintained that favourable rainfall conditions would offset the anticipated deficit.Speaking to The Sunday Morning, NSO Chairman Dr. Pradeep Perera categorically denied that the company had requested a tariff increase, explaining that the financial information submitted to the PUCSL consisted solely of electricity generation cost estimates.He stressed that under the new electricity sector legislation, the NSO was not responsible for requesting electricity tariff increases, with its role limited to submitting the necessary cost and generation forecasts for the regulator’s assessment.He explained that the original cost estimates were prepared using rainfall patterns and weather forecasts available during the preceding three months. However, subsequent rainfall significantly improved the country’s hydropower generation outlook, reducing the anticipated financial pressure on the electricity sector.&nbsp;Dr. Perera maintained that the additional hydropower generation would be sufficient to offset the projected shortfall, enabling the electricity sector to reach a break-even position without increasing consumer tariffs.&nbsp;The NSO Chairman’s clarification comes despite the PUCSL’s consultation document for the fourth-quarter electricity tariff review identifying a projected revenue deficit of Rs. 4.4 billion based on financial submissions from electricity sector licensees.&nbsp;According to the document, the total forecast cost of electricity supply for October–December stands at Rs. 157.3 billion, while anticipated revenue from electricity sales amounts to Rs. 154 billion.&nbsp;The resulting operating revenue shortfall of Rs. 3.3 billion increases to Rs. 4.4 billion when a further Rs. 1.1 billion deficit carried forward from the second quarter of 2026 is included.&nbsp;The consultation document states that the licensees’ submissions indicated the need for a 2.88% increase in electricity sales revenue to address the projected deficit.&nbsp;However, following its preliminary assessment, the PUCSL reduced the estimated required tariff increase to 1.46%, after excluding certain generation capacity costs and revising expenditure estimates associated with substandard coal used during the second quarter.&nbsp;While the PUCSL’s calculations indicate a revenue gap requiring recovery through electricity tariffs, the NSO’s position is that the improved generation outlook has effectively eliminated the need for such an adjustment.&nbsp;The disagreement also centres on whether the original financial submissions represented a formal request for a tariff increase or merely the cost forecasts that the NSO was required to provide under the new regulatory framework.&nbsp;The PUCSL’s own consultation document describes the figures as forecasts submitted by electricity sector licensees and identifies the required revenue increase based on those submissions.&nbsp;Meanwhile, Minister of Energy Anura Karunathilaka also questioned the PUCSL’s decision to proceed with a public consultation on electricity tariffs despite the NSO having communicated that no increase was necessary.&nbsp;Addressing Parliament on Thursday (5), the Minister maintained that available financial data and generation forecasts did not justify another electricity tariff increase during 2026.&nbsp;He criticised the regulator’s decision to conduct the public hearing, describing it as an unnecessary expenditure of public funds when the electricity sector institutions had already indicated that tariffs could remain unchanged.The Minister also questioned whether the decision to proceed with the consultation had been taken by the commission’s members or its officials.&nbsp;He said the NSO had informed the PUCSL through a letter dated 6 October that its projected generation costs had declined from Rs. 129 billion to Rs. 125 billion, removing the need for a tariff revision.&nbsp;Nevertheless, the PUCSL proceeded with its stakeholder consultation on Thursday (5), under the provisions of the Sri Lanka Electricity Act No.36 of 2024, as amended, and the PUCSL Act No.35 of 2002.&nbsp;The commission’s published consultation material identifies the submitted bulk supply costs, generation forecasts, and revenue requirements as the basis for its quarterly tariff review.&nbsp;&nbsp;The NSO also reiterated during the consultation that it did not consider a tariff increase necessary, citing current reservoir storage levels and forecasts of favourable rainfall.&nbsp;According to the PUCSL consultation document, the NSO’s initial forecasts placed total electricity generation costs for the quarter at approximately Rs. 117.3 billion.&nbsp;Coal-fired electricity generation was projected to cost Rs. 36.3 billion, while furnace oil-based generation was estimated at Rs. 28.5 billion.&nbsp;The initial generation forecast also anticipated a sharp increase in electricity generation expenditure during December, primarily due to an expected decline in hydropower and other renewable energy generation.&nbsp;The NSO had forecast generation energy costs of Rs. 98.3 billion for the quarter, with December’s expenditure expected to be approximately 34% higher than that of the preceding two months.&nbsp;However, Dr. Perera maintained that subsequent improvements in rainfall had changed the generation outlook, reducing the need for more expensive thermal power generation and the resulting financial burden.&nbsp;The PUCSL’s preliminary assessment also highlighted several other expenditure concerns, including generation capacity payments, fuel pricing arrangements, and additional costs submitted by electricity sector institutions.&nbsp;The regulator excluded Rs. 1.1 billion in additional costs submitted by Electricity Distribution Lanka Ltd. relating to the Supporting Electricity Supply Reliability Improvement Project, on the basis that the expenditure concerned capital work in progress.&nbsp;It also removed an increase in generation capacity costs attributed to Electricity Generation Lanka and revised the estimated additional costs associated with substandard coal usage during the second quarter.&nbsp;These adjustments reduced the estimated tariff increase from 2.88% to 1.46%.&nbsp;The conflicting positions have raised questions over whether the PUCSL’s preliminary financial assessment adequately reflects the latest generation conditions and whether the projected Rs. 4.4 billion deficit will materialise.&nbsp;Under the existing tariff methodology, revenue surpluses or deficits arising from bulk electricity supply operations are adjusted two quarters later, meaning any unrecovered costs could potentially be considered during future tariff reviews.&nbsp;However, the NSO maintains that the anticipated improvement in hydropower generation will enable the electricity sector to cover its costs without requiring additional revenue from consumers.

Rs. 4.4 b shortfall: PUCSL, NSO at loggerheads

<ul><li>Offshore-registered firms among Port City’s 68 new strategic businesses&nbsp;</li></ul> Port City Colombo is broadening its international business footprint, attracting a diverse mix of companies incorporated in offshore financial centres, including the British Virgin Islands (BVI), as well as businesses from the United States, Australia, Canada, Malaysia, Singapore, the United Kingdom, and the United Arab Emirates.&nbsp;The latest group of 68 companies gazetted as secondary Businesses of Strategic Importance (BSIs) has disclosed five-year investment commitments totalling approximately $ 166.87 million, reflecting growing interest in the Port City as a base for international business operations, particularly in Information Technology (IT), Business Process Outsourcing (BPO), and professional services.&nbsp;According to a technical analysis of the Port City gazettes dated 11 October 2026, the 68 companies were gazetted under Gazette Nos. 2483/18–85 on 10 April this year.The investment breakdown includes Bridge Stone Global Ltd., incorporated in the BVI, with a declared investment of $ 5 million, while Masterock Ltd. and Modern Mark Development Ltd., also incorporated in the BVI, have declared investments of $ 1.18 million and $ 100,000, respectively.&nbsp;The list also identifies a number of companies for which no parent company has been stated, including entities incorporated in Sri Lanka and overseas jurisdictions. These include Casa BPO Sdn. Bhd. of Malaysia, with a declared investment of $ 14.87 million; Ren XYZ Inc. of the United States, with $ 45 million; and Kodez Ltd. of Australia, with $ 1 million.&nbsp;Other entities without a parent company identified include Aurion Engineering LLC, incorporated in the US, with $ 600,000, and Pravy Consulting Inc. of Canada, with $ 100,000.&nbsp;The disclosure raises questions about the ownership structures and ultimate beneficial ownership of businesses entering the Port City ecosystem, particularly where the published investment breakdown does not identify a parent company. However, the absence of a stated parent company in the document does not, by itself, establish that a company has no ultimate beneficial owner or that its ownership is undisclosed to the regulator.&nbsp;IT and IT-enabled services account for approximately 55% of the secondary BSI disclosures, followed by BPO at around 20%. Advisory services, wholesale trade, logistics, and financial services account for the remaining 25%.&nbsp;The latest cohort forms part of a wider group of 180 secondary BSIs, representing 73.5% of the 245 entities recorded under the Port City licensing framework.&nbsp;Unlike primary BSIs, secondary businesses are not required to undertake land development within the Port City but can operate from leased office or business premises while enjoying tax and regulatory incentives available under the special economic zone framework.&nbsp;The investment list also includes businesses linked to international corporate groups, including Deloitte, Ansell, GAC Group, Qoria, KAL Group, Fortude, Eyepax, Intervest Holdings, and Orel IT Group.&nbsp;Among the largest disclosed investments are Ren XYZ Inc. at $ 45 million, Intelligent Optical Solutions PC Ltd. at $ 16.57 million, GAC Services Ltd. at $ 14.94 million, and Robotic Assistance Devices Lanka Ltd. at $ 12.53 million.&nbsp;Intervest Global Delivery Ltd., linked to UK-based Intervest Holdings, has declared $ 11.43 million, while Atlas Global BPO Ltd., linked to Singapore’s Suga Group, has declared $ 7 million.&nbsp;The technical analysis identifies 108 secondary BSIs gazetted before April 2026 and 68 in the April 2026 cohort. The $ 166.87 million investment total relates specifically to the latter group.&nbsp;Under the Colombo Port City Economic Commission (CPCEC) Act No.11 of 2021, investments into the Port City, including land leases and corporate equity, must originate from designated foreign currencies sourced from overseas or through authorised offshore foreign currency accounts.&nbsp;The CPCEC functions as a single-window investment facilitator and conducts background checks on the origin and legitimacy of capital before granting licences or designating businesses as being of strategic importance.

Global firms drive $ 166.9 m in Port City investments 

Frontline Socialist Party (FSP) Education Secretary Pubudu Jayagoda on Friday (6) accused President Anura Kumara Dissanayake of deliberately drawing public attention to only three issues in the Prevention of Organised Crimes Bill, while leaving its most dangerous provisions unmentioned.Speaking at a press conference in response to the President’s remarks on Thursday (5), Jayagoda said the offered concessions were cosmetic and diverted attention from the fact that the bill’s legal foundation departed from established criminal law.Addressing a special interfaith convention on Thursday marking one year of the Ratama Ekata national anti-drug operation, the President said that the 72-hour period a suspect may be held before being produced before a magistrate would be reduced to 48 hours.&nbsp;He said the bill would also be amended to remove provisions on tattoos and offences under the Excise Ordinance, and that the Government was willing to hold discussions with human rights organisations.Jayagoda said that under existing law a person could be arrested only on reasonable suspicion of an actual criminal act, whereas the bill was built on arresting people for their appearance and associations. He pointed to Clause 4(2), which he said covered communication over the internet; “knowing” association with gang members; dress, gestures, and slang; and frequenting certain places.He said that “the definitions are made completely vague” so that the authorities could deliberately misrepresent them when they needed to.&nbsp;&nbsp;Jayagoda added that the 48 versus 72 hours debate also concealed the detention powers in Clauses 20 and 21, under which detention orders could be issued for up to two months at a time and renewed up to a year. Under Clause 23, he said, a magistrate had no discretion once such an order was issued.“If a magistrate examines the case and concludes there are no sufficient grounds whatsoever to arrest the person under this act, the magistrate does not have the power to grant bail and release them. The powers belonging to the Judiciary have been hijacked by the Executive,” he said.On the pledge to review the 72-hour period, Jayagoda said legislation could not be shaped in such a casual manner. “You include a provision for 72 hours, and when people protest, you make it 48. Tomorrow you might ask, ‘Shall we make it 24?’ Who drafted this bill? Who takes responsibility for it? Why was 72 hours inserted in the first place?” he asked.Questioning why the President had singled out the Excise Ordinance, Jayagoda alleged that liquor manufacturers who had petitioned the Supreme Court included financiers of the National People’s Power. He said that offences under the Fauna and Flora Protection Ordinance and the Intellectual Property Act remained in the bill.He also noted that the President had said nothing regarding the Protection of the State from Terrorism Bill, which he said should be discarded, with the Prevention of Terrorism Act repealed.The controversial bill is before the Supreme Court, which began hearing 26 petitions challenging it on Wednesday (4) before a bench comprising Chief Justice Preethi Padman Surasena and Justices Achala Wengappuli and Sampath Abayakoon.Appearing for petitioner Malinda Seneviratne, President’s Counsel Romesh De Silva argued that the bill contradicted the UN Convention against Transnational Organized Crime. He described the definition of “serious crime” as dangerous, saying it covered an intellectual property offence carrying a six-month sentence or a Rs. 500,000 fine. He also challenged provisions allowing the secretary of defence to issue detention orders at the request of senior Police officers and argued that the bill required approval at a referendum.Appearing for the Bar Association of Sri Lanka, President’s Counsel Saliya Pieris pointed to Clause 14(3), which he said would make it an offence to publish information on proceedings concerning a serious crime without court permission, preventing journalists from reporting such cases. He too said a referendum was required.Attorney-at-Law Suren Fernando argued that under Clause 19(4), a magistrate would have no option but to remand a suspect where no detention order was issued, reducing the magistrate to a “rubber stamp”. He also questioned the removal of magistrates’ power to grant bail, which would instead be vested in the High Court.

Prevention of Organised Crimes Bill: FSP slams Prez’s selective amendments to crime bill  

<ul><li>Nearly 600,000 drug-related operations conducted</li><li>112 overseas fugitives targeted for return&nbsp;</li></ul> The Sri Lanka Police has seized narcotics worth an estimated Rs. 224 billion and 4,056 firearms and other weapons over the past two years, conducting nearly 600,000 drug-related operations involving more than 596,000 suspects, while intensifying efforts to bring back over 100 wanted criminals who have fled overseas.&nbsp;Police Media Spokesperson, Assistant Superintendent of Police (ASP) F.U. Wootler told The Sunday Morning that 597,964 drug-related operations had been conducted during the period, involving 596,591 suspects, as authorities stepped up efforts to combat narcotics trafficking and organised crime.&nbsp;He revealed that 68 individuals identified as among Sri Lanka’s most wanted criminals had already been brought back from overseas, while arrangements were underway to secure the return of another 112 suspects.&nbsp;According to ASP Wootler, Interpol red notices had been issued in connection with suspects located across 13 countries, as part of ongoing efforts to apprehend individuals who had fled Sri Lanka.&nbsp;He said that those already returned to the country had been produced before local courts and would face legal proceedings in accordance with Sri Lankan law.&nbsp;Meanwhile, Police statistics indicate that a total of 43,726 kg of narcotics, valued at approximately Rs. 224 billion, had been seized during the period. The haul includes 4,009 kg of heroin, 6,526 kg of crystal methamphetamine (commonly known as ‘ice’), and 28,441 kg of cannabis.&nbsp;ASP Wootler attributed the increased detections and arrests to intensified Police operations and information received from the public through the 1818 hotline. He thanked the public for their cooperation, noting that information provided through the hotline had contributed to drug detections, arrests, and investigations across the country.&nbsp;He added that narcotics had been intercepted along maritime routes and during operations conducted within the country, following an increase in raids.&nbsp;The Police Spokesperson also highlighted the seizure of 4,056 firearms and other weapons over the two-year period, including military-grade weapons and locally manufactured firearms.&nbsp;According to Police statistics, the weapons recovered include 97 T-56 assault rifles, one AK-47 assault rifle, 143 pistols, 105 revolvers, 397 12-bore shotguns, and 100 improvised firearms, including handmade shotguns and repeating or pump-action shotguns. The remaining 3,213 weapons comprise muzzle-loading guns, trap or set guns, and other types of firearms.&nbsp;ASP Wootler said the Police had taken charge of a substantial number of weapons that had been transported between the northern, eastern, and southern parts of the country.&nbsp;He also pointed to the Government’s nationwide anti-narcotics campaign Ratama Ekata (A Nation United), which marked its first anniversary on 30 October, describing the coordinated operations as having produced significant results.&nbsp;He said that the campaign had brought together the Police, the armed forces, the Special Task Force, the Judiciary, the Attorney General’s Department, and other State institutions in a coordinated effort to combat the drug menace.&nbsp;According to ASP Wootler, cooperation among law enforcement agencies and the public had contributed to increased detections and arrests.&nbsp;Police investigations and international coordination efforts are continuing to secure the return of the remaining 112 suspects identified overseas, while operations targeting narcotics trafficking and illegal firearms remain ongoing.&nbsp;

Police seize Rs. 224 b in drugs, 4,056 weapons in 2 years 

<ul><li>Regulator flags excessive markups as legal challenge delays wider implementation</li></ul> Prices of some medicines in Sri Lanka have dropped by as much as 30–40% following the application of a new pricing formula, raising concerns over excessive markups in the pharmaceutical market, according to the National Medicines Regulatory Authority (NMRA).&nbsp;NMRA Chairman Dr. Ananda Wijewickrama told The Sunday Morning that the price reductions had been recorded despite the depreciation of the rupee, suggesting that certain medicines had previously been sold at significantly higher prices.&nbsp;“When this formula was applied, the prices of some medicines declined significantly by about 30–40%,” he said.&nbsp;Dr. Wijewickrama said the reductions indicated that some medicines had previously been sold at excessively high prices, highlighting the importance of regulating pharmaceutical prices to protect consumers.&nbsp;The pricing mechanism, introduced through a gazette notification and accompanying NMRA guidelines, calculates Maximum Retail Prices (MRPs) based on the Cost, Insurance, and Freight (CIF) value of medicines arriving at Sri Lankan ports, together with approved markups across the supply chain.&nbsp;He stressed that price regulation was particularly important given the large number of Sri Lankans who purchased medicines using their own money. “There are a significant number of people who buy medicines out of pocket,” he said, adding that price controls would benefit both the public and the Government.&nbsp;However, the NMRA’s efforts to extend the pricing formula to more registered medicines have been temporarily interrupted following legal action initiated by the association of pharmaceutical importers challenging the implementation of the relevant gazette.&nbsp;Dr. Wijewickrama said that the authority had been progressively assigning MRPs when medicines were registered, their registrations renewed, or import licences issued, before the court intervention halted the process.&nbsp;“We believe the case will be heard fairly quickly. Thereafter, we will have to proceed depending on the decision,” he said.&nbsp;Sri Lanka currently has approximately 6,000 registered medicines, although the NMRA does not intend to impose MRPs on all products simultaneously.&nbsp;Instead, the authority plans to introduce price controls gradually through the registration and import licensing process, which could take between one-and-a-half and two years, according to Dr. Wijewickrama, subject to the outcome of the legal proceedings.&nbsp;He added that some registered medicines may never receive an MRP if their registration holders stopped importing them or did not seek import licences.&nbsp;The NMRA maintains that the pricing formula can help reduce excessive medicine prices, although the continuation of the wider regulatory process remains dependent on the court’s decision.&nbsp;

NMRA pricing formula: Medicine prices drop by up to 40%   

<ul><li>Energy experts warn that individual home batteries could triple national dollar spending</li><li>Opposition questions how 1,392 MW renewable targets can be met&nbsp;&nbsp;</li></ul> Concessions will be granted for home solar battery systems through the 2027 Budget, Minister of Energy Anura Karunathilaka told Parliament last Thursday (5).&nbsp;He said that President Anura Kumara Dissanayake would announce the concession scheme on 12 November when he presents the budget.The announcement comes amid recurring power interruptions and a debate over whether rooftop solar is destabilising the national grid. It has drawn criticism from energy experts and questions from the Opposition.Raising the matter in Parliament, Ilankai Tamil Arasu Katchi (ITAK) Parliamentary Group Leader Shanakiyan Rasamanickam questioned how these targets could be met under the existing restrictions. He asked why large renewable energy projects in the Batticaloa District had received approvals while households that had registered for rooftop solar last year were still awaiting permission.Rasamanickam also raised the suspension of previously available incentives and concessions, and a change under which payments would be linked to electricity generated during daytime hours. He said this could reduce producers’ earnings and lengthen the time taken to recover their investments. He added that the household-level generation framework announced in an earlier budget had yet to be fully implemented.Responding, Minister Karunathilaka said that payment arrangements for renewable energy producers would be revised and existing difficulties addressed. He added that special incentives for new investors would be introduced through the forthcoming budget.The MP also sought details on tariff revisions since the beginning of 2025. The Minister confirmed that tariffs had been revised four times, twice in 2025 and twice in 2026, and maintained that consumers had not incurred additional charges as a result.Meanwhile, electrical engineer and environmentalist Asoka Abeygunawardana rejected claims by official quarters that rooftop solar was behind the instability. He told The Sunday Morning that recent countrywide outages had been initiated by sudden trips at the Norochcholai coal-fired power station, where the loss of a single unit had snowballed into a cascading drop exceeding 500 MW.“The popular belief being spread is that rooftop solar causes instability, forcing major power stations to trip and shut down,” he said. “That is a complete falsehood. System blackouts began occurring well before rooftop solar took off after the Covid-19 pandemic.”He charged that the National System Operator (NSO) remained practically blind to local generation because its digital meters lacked real-time communication capabilities. He also noted that despite the launch of the Soorya Bala Sangramaya nearly a decade ago, State utilities had failed to integrate Battery Energy Storage Systems (BESS) or complete planned storage pilots.Abeygunawardana warned that recent regulatory rollbacks, including cuts to export tariffs and the suspension of the Net Accounting and Net Plus billing frameworks, were dismantling a domestic industry that supported over 8,000 jobs and hundreds of small enterprises.He also cautioned against proposals to promote individual home battery systems through tax concessions, saying decentralised household purchases would needlessly triple national dollar expenditure compared with centralised, distribution-level battery units.He urged the Government to mandate solar on every viable rooftop by 2035, supported by pumped-storage hydro development at Victoria-Randenigala and distribution-level frequency stabilisers.&nbsp;Combined with fleet-wide electric vehicle adoption and Vehicle-to-Grid (V2G) charging, he argued, this would allow Sri Lanka to power its economy without committing public funds to long-term fossil Liquefied Natural Gas (LNG) infrastructure or prospective nuclear plants, which he said contradicted national 100% renewable energy pledges.Karunathilaka in an early occasion said that the Government had taken active steps to double rooftop solar generation capacity. He noted that rooftop solar stood at 867 MW in 2024 and had risen to 1,674 MW by 2025.He described BESS as a vital upcoming development to ensure maximum use of solar energy across the grid. He said that a 560 MW battery system would be built by the end of next year and a total of 1,200 MW of storage would be in place within two years. The systems will capture surplus power and release it during the peak demand window between 6 p.m. and 10 p.m.The Minister also announced renewable energy targets of 642 MW in 2027, 300 MW in 2028, and 450 MW in 2029, which amounted to 1,392 MW over the three years.

Energy: Home solar batteries to get budget concessions 

<ul><li>Equal say for all 7 member states despite differences in size, political interests</li><li>Plans underway to establish 10 new centres as institutional reforms gather pace</li><li>SL pushes for greater regional cooperation on fiscal, monetary policies</li></ul> The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) will not distinguish between large and small member states, nor will any country be pressured into taking decisions against its interests, Secretary General Indra Mani Pandey told The Sunday Morning, emphasising that the regional grouping operated on the basis of equality and consensus.&nbsp;Pandey was in Colombo last week to attend the sixth Bay of Bengal Maritime Dialogue.&nbsp;&nbsp;&nbsp;Speaking to The Sunday Morning, Pandey said that BIMSTEC remained focused on development and tangible regional cooperation, irrespective of political developments within or between its member states.He said every member state had an equal role in setting the organisation’s agenda, proposing new areas of cooperation, and deciding on action plans.“None of our member states should feel that they have to take any decision under pressure,” he said, citing the time taken by countries to ratify memoranda of understanding, conventions, and agreements, including free trade agreements.Pandey acknowledged that the consensus-based approach could make decision-making slow and sometimes difficult. However, he said the process allowed each country to raise its concerns and ensure they were addressed before an agreement was reached.“Outcomes may not come as quickly as we desire, but the process ensures that every country is comfortable with the outcome,” he said.He cited the first BIMSTEC Home Ministers’ Meeting, held on 30 October, as an example of the equal platform provided to member states, with each minister given the opportunity to outline national priorities and make recommendations on the organisation’s future work.Pandey said that BIMSTEC’s priority was to maintain its focus on practical cooperation and transnational security challenges, allowing progress to continue despite political differences among member states.In addition, BIMSTEC is looking at establishing 10 additional Centres of Excellence across various sectors as part of efforts to strengthen its institutional capacity and accelerate regional cooperation, according to the Secretary General.&nbsp;Speaking to The Sunday Morning during an interview in Colombo, where he was attending the sixth Bay of Bengal Maritime Dialogue on Tuesday (3), Pandey said member states were committed to addressing long-standing institutional shortcomings that had slowed the organisation’s progress.He acknowledged that BIMSTEC had not advanced as quickly as expected, prompting member states to establish an Eminent Persons’ Group in 2024 to examine institutional deficiencies and recommend reforms. He said the reforms recommended by the group were being implemented to accelerate regional cooperation.&nbsp;“The Eminent Persons’ Group made a set of recommendations and our member states were keen that, instead of debating those recommendations, we should move towards implementing them,” he said.Pandey further stated that the sixth BIMSTEC Summit, held in April 2025, had given a clear direction to implement recommendations that could be adopted immediately, while further discussions would be undertaken on proposals requiring additional consideration.“This signifies a clear commitment to addressing some of the institutional challenges we faced in the past,” he said.Pointing to the organisation’s plans for expansion, Pandey said that BIMSTEC had only five functional centres covering different areas at present, but proposals were being considered to establish 10 more centres in various sectors.He said the proposed expansion underscored the commitment of member states to strengthening cooperation across the organisation’s different areas of work.Pandey also highlighted Sri Lanka’s role in expanding BIMSTEC’s cooperation agenda, particularly through a proposal to include fiscal and monetary policy issues.He noted that Sri Lanka’s Foreign Minister had proposed in 2023 that BIMSTEC should address fiscal and monetary policy matters in order to enable member states to learn from one another’s experiences.After assuming office as Secretary General, Pandey said he had taken forward the initiative through the preparation of a concept paper, consultations with member states, and the process of obtaining their approval.The proposal reflects an effort to broaden BIMSTEC’s cooperation beyond its existing development and security priorities, providing another platform for member states to exchange knowledge and experiences in economic policy.Pandey expressed optimism that the institutional reforms and revitalisation process would enable BIMSTEC to achieve more substantial results in the coming years.“I am very hopeful that with this kind of institutional reform and revitalisation underway, BIMSTEC will make more significant achievements in the future than it has in the past,” he said.

No BIMSTEC state forced into decisions: Pandey 

Batticaloa District MP Shanakiyan Rasamanickam on Friday (6) questioned how billions of rupees allocated by the Treasury for fuel subsidies have been utilised, demanding greater transparency over whether the financial relief provided to the Ceylon Petroleum Corporation (CPC) has translated into benefits for consumers.&nbsp;Raising the issue in Parliament, he called on the Government to introduce targeted fuel subsidies for farmers, fishermen, and the public transport sector, amid rising fuel prices and the increasing cost of living.&nbsp;Referring to the latest economic indicators, Rasamanickam said that headline inflation had risen to 8.3% in October, while food inflation had reached 8.8%. He also pointed out that following the latest fuel price revision on Monday (2), prices of bakery products, including bread, had increased by Rs. 5.&nbsp;Questioning the Government’s claim that fuel was being sold below import cost, he referred to Deputy Minister Kaushalya Ariyarathne’s statement in Parliament and sought clarification on the actual import and retail selling prices.&nbsp;According to Rasamanickam, diesel is being imported at Rs. 307 per litre and petrol at Rs. 322 per litre. He questioned whether the current pump prices were genuinely below or at the level of the import cost.&nbsp;He also raised concerns over electricity tariff increases, noting that tariffs had risen by 10.3% in April and a further 18% subsequently. With the Ceylon Electricity Board proposing another tariff revision for the next quarter, he sought clarification on a report by the national grid company indicating that another increase was not necessary at present.&nbsp;He also questioned whether the Government intended to continue the existing Rs. 70 per litre diesel subsidy, reportedly due to expire on 31 December.&nbsp;Turning to Treasury finances, Rasamanickam cited the Ministry of Finance’s Mid-Year Fiscal Position Report for 2026, which showed that the Treasury’s cash balance stood at Rs. 690.3 billion at the end of June.&nbsp;He questioned why additional taxes were being imposed on fuel while the Treasury held such a substantial cash balance, arguing that available public funds should be used to provide direct relief to consumers.&nbsp;He said Rs. 57 billion had reportedly been allocated for fuel and electricity subsidies during the first six months of 2026. Of this, Rs. 41 billion had been provided to the CPC between April and June, while approximately Rs. 15 billion had been allocated for electricity tariff subsidies.&nbsp;However, during the same period, the CPC had recorded a net profit of Rs. 29.2 billion, prompting him to question the extent to which the Government’s financial assistance had contributed to the corporation’s profitability and whether consumers had received corresponding benefits.&nbsp;Rasamanickam further recalled that Rs. 750 million in taxpayers’ money had been paid through the Treasury during the previous year towards loans owed by the CPC to the Bank of Ceylon and People’s Bank.&nbsp;Against this backdrop, he questioned whether the primary responsibility of a State-owned petroleum corporation should be to maximise profits or ensure affordable fuel for the public.&nbsp;He argued that fuel relief should be designed to reach those most affected by price increases, particularly farmers, fishermen, and public transport operators, rather than relying solely on financial assistance to the petroleum corporation.

Rs. 41 b CPC subsidy under scrutiny

Five senior journalists are to be honoured with Lifetime Achievement Awards at the Journalism Awards for Excellence 2025, the 27th edition of the event, on 10 November at the Cinnamon Grand Colombo.Asoka Goonetilleke, Anura Bandara Rajaguru, Chandra Fernando, Rohan Sarath Abeywardena, and Ariyaratne Ganegoda are among the veterans whose achievements will be celebrated at the event organised jointly by The Editors’ Guild of Sri Lanka (TEGOSL) and the Sri Lanka Press Institute. Asoka Goonetilleke Goonetilleke commenced his journalistic career at Lake House in 1976, and after serving on the central news desk and in the foreign news desk, he left in 1982. During this period, he also served on staff of the Observer, as a feature writer on the Yovun Janatha, and as an editorial news reporter at the Janatha newspaper. He joined Upali Newspapers Ltd. (UNL) in 1982 as the Sports Editor of the Divaina and rose to the position of Associate Editor by the time he left in 2013.He has contributed articles to the FIFA and Asian Football Confederation (AFC) football magazines, the Dawn (Bangladesh), and Calcutta Times (India). He has translated several books to Sinhala from English, among them ‘An Adventurous Voyage to the Sea’ (‘Mahamuhuda Meda – Maranaya Abhiyasa’) and ‘The Black Dragon’ (‘Kalu Makara’). He has also translated ‘What Makes the Buddha Great’ and ‘Impermanence in Plain English,’ both written by Ven. Henepola Gunaratana Thera.He has also been a lecturer and served on the National Olympic Committee of Sri Lanka, in the Ministry of Sports School of Sports Sciences as a National Course Director for Sri Lanka, and on the International Olympic Committee (IOC). He has also worked at the Department of Government Information.Goonetilleke has received several awards, among them Sports Journalist of the Year 2000 (TEGOSL), Olympic Award for Excellence in Sports Journalism 2024 (IOC), Presidential Award 2015 for the most outstanding sports publication, Kreeda Sahithya Vedi (2020 Sabuddhi Sports Literary Awards), and an award at the 2022 Sabuddhi Sports Literary Awards. Anura Bandara Rajaguru&nbsp; Rajaguru, a past student at Ananda College, Colombo, commenced his journalistic career at Lake House in 1980, working for the Janatha and Yovun Janatha newspapers, and subsequently joined the editorial teams of Silumina and Kreeda, after which he joined the central news desk before moving to the Navayugaya and Sarasaviya, culminating in over four decades of work.&nbsp;Alongside his journalistic career, he built a parallel career in broadcasting, television, and writing, and obtained a diploma in journalism from the University of Colombo.The year 1994 was a watershed in his career in journalism. While at Lake House, he became the Deputy Editor of a new evening Sinhala-language newspaper – Kolamba Puwath – and later Associate Editor of the newspaper. He was later appointed Editor of Sarasaviya while serving as Managing Editor of periodical publications.Rajaguru left Lake House in 2008 having served as Associate Editor of Associated Newspapers of Ceylon Ltd.’s (ANCL) Training and Research Department. He also worked as a relief announcer at the Sri Lanka Broadcasting Corporation (SLBC).&nbsp;His contributions to creative writing earned him the Wimalasiri Perera Memorial Award for Creative Writing. He also completed a UNESCO course on writing for children. Chandra Fernando Fernando has over 45 years of experience in the media industry. She began her career in journalism in 1977, joining the Chinthamani and Thinapathi newspapers published by the Davasa Group as an Assistant Editor.After working under the leadership of S.T. Sivanayagam, she joined Sudamani, a newspaper launched by the Gunasena family, where she served as an Assistant Editor. She subsequently served for a brief period as the person in charge of the Thinaththanthi newspaper published during that era.Fernando joined the Virakesari weekly edition as an Assistant Editor in 1997, during the period when Chandrika Subramaniam was in charge of the Virakesari weekly edition. She later worked as an Assistant Editor at Sudar Oli for a period before rejoining Virakesari. During this time, she also served as Deputy Editor of Tamil Times, the international edition of Express Newspapers (Ceylon) Ltd. She subsequently returned to Virakesari, where she continued her distinguished career until retirement.Fernando has held several key editorial positions, including Editor-in-Chief, Assistant Editor, and Deputy Editor. Her extensive experience and dedicated service have made her a notable figure in the field of journalism. Rohan Abeywardena Abeywardena entered the journalism scene in 1980 with the now defunct Sun newspaper of the Independent Newspapers Group as a trainee journalist (Sub-Editor). Having received a good grounding there, he soon crossed over to the newly launched UNL in November 1981 when it launched its first daily English publication, The Island, where he quickly rose from Sub-Editor through the ranks of Shipping Page Editor, Business Page Editor, Deputy News Editor, News Editor, Associate Editor, and Consultant Editor.In the run-up to and after the signing of the Indo-Lanka Accord in July 1987, he manned the position of News Editor at The Island, Sunday Island, and The Sunday Times (twice). Abeywardena also had some memorable attachments with the Daily Mirror as Deputy News Editor at its launch and as Associate Editor of the now defunct The Nation between 2003 and 2010. He also served as the Editor of the Weekend Standard when Tiran Alles launched the newspaper in 2006.&nbsp;While he was never concerned about hogging the limelight with his byline, he ensured that journalists serving under him received as much exposure as possible. Until his retirement in 2011, he was always in the thick of the news while keeping his reporters on their toes in the interests of the country, regardless of personal consequences. Since retirement, he has continued to serve The Island online. Ariyaratne Ganegoda Ganegoda was born in 1944&nbsp;and was educated at Kotahena Central College and Sri Lanka Vidyalaya. He entered the field of journalism around mid-1966.&nbsp;During his journalism career, he worked for Aththa (1966–1990), Dinamina (1990–2005), Lankadeepa (2006–2011), and Mawbima (2018–2020). Since 2020, he has been contributing articles to Lake House newspapers as the regional correspondent for Colombo Central. He has also contributed articles to the Silumina, Observer, and Thinakaran.&nbsp;Among other roles, he served as the Deputy News Editor of the Dinamina.&nbsp;Having covered major political parties, the Colombo Municipal Council, and the Western Provincial Council for a lengthy period, he is also a member of the Sri Lanka Working Journalists’ Association. Senior journalists Sirilal Kodikara, B.A. Siriwardena, Ariyawansha Pathiraja, and Bennett Rupasinghe are among his contemporaries.

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Global firms drive $ 166.9 m i ...

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Prevention of Organised Crimes ...

Bringing the news paper to your fingertips

Police seize Rs. 224 b in drugs, 4,056 weapons in 2 years

Police seize Rs. 224 b in drug ...

NMRA pricing formula: Medicine prices drop by up to 40%

NMRA pricing formula: Medicine ...

Energy: Home solar batteries to get budget concessions

Energy: Home solar batteries t ...

No BIMSTEC state forced into decisions: Pandey

No BIMSTEC state forced into d ...