An Echelon Media Company
Tuesday June 18th, 2024

India begins construction of 1,300 houses for Sri Lanka plantation workers

ECONOMYNEXT – The fourth stage of the Indian housing project, ‘Bharat-Lanka,’ which sees the construction of 10,000 houses for plantation sector workers was launched on Monday (19).

The fourth phase entails building 1,300 houses across 45 estates in 10 districts.

“The Tamil community of Indian Origin, who have made significant contributions to the country’s economy, have unfortunately suffered great losses due to the lack of land and housing ownership,” Sri Lanka’s president Ranil Wickremesinghe was quoted at the event by his media division.

“It is imperative that their economic and social rights are upheld. The government is actively initiating this process, starting with negotiations with estate companies to acquire land for the construction of these houses.”

Wickremesinghe, Minister of Water Supply and Estate Infrastructure Development Jeevan Thondaman and Indian High Commissioner Santhosh Jha, virtually unveiled the foundation stone plaque.

“Education levels within estates lag behind those in other regions, necessitating the establishment of equitable educational standards across all schools,” Wickremesinghe said, adding “Efforts must extend to providing opportunities for youth, including access to education and vocational training, particularly geared towards international employment opportunities.”

Wickremesinghe said he hoped “to convene all political representatives and present unified proposals devoid of party divisions within the next month.”

“The security of a home is the first step towards economic and social inclusion of this long marginalised community,” Minister of Water Supply and Estate Infrastructure Development Jeevan Thondaman said. “Our new Saumyabhoomi programme will also ensure that 10 perches of freehold land with clear title is given to every plantation family.

Indian High Commissioner to Sri Lanka Santosh Jha “reiterated India’s commitment to building a deeper and stronger partnership based on shared security, prosperity and enhanced connectivity between the two nations.”

The decision to construct these houses was announced during Prime Minister Narendra Modi’s visit to Hatton, marking the first visit by an Indian Prime Minister to the region. (Colombo/Feb19/2024)

Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Sri Lanka’s Ceylon Chamber links up with Gujarat Chamber

ECONOMYNEXT – The Ceylon Chamber of Commerce has signed an agreement with the Southern Gujarat Chamber of Commerce and Industry (SGCCI) to increase trade cooperation between India and Sri Lanka.

The MOU was signed by CCC CEO Buwanekabahu Perera, SGCCI President Ramesh Vaghasia, in the presence of Dr Valsan Vethody, Consul General for Sri Lanka in Mumbai, India.

“With the signing of the MoU, … the Ceylon Chamber of Commerce and SGCCI aim to facilitate trade between the two countries via initiatives such as trade fairs and delegations, business networking events, training programmes,” the Ceylon Chamber said in a statement.

“This partnership will open doors for Sri Lankan businesses to explore opportunities in Surat’s dynamic market and enable the sharing of expertise and resources between the two regions.”

Established in 1940, SGCCI engages with over 12,000 members and indirect ties with more than 2,00,000 members via 150 associations. It promotes trade, commerce, and industry in South Gujarat.

The region’s commercial and economic centre Surat has risen to prominence as the global epicenter for diamond cutting and as India’s textile hub, and is ranked the world’s 4th fastest growing city with a GDP growth rate of 11.5%

Surat’s economic landscape is vibrant and diverse. As India’s 8th largest and Gujarat’s 2nd largest city, it boasts the highest average annual household income in the country.

The nearby Hazira Industrial Area hosts major corporations like Reliance, ESSAR, SHELL, and L&T. (Colombo/Jun18/2024)

Continue Reading

Sri Lanka telecommunications bill some clauses ruled unconstitutional by SC: Speaker

ECONOMYNEXT – Sri Lanka’s Supreme Court has found a number of clauses in a proposed amendment to the Telecom Telecommunications Amendment bill unconstitutional, speaker Mahinda Yapa Abeywardana said.

“Clause No 8, proposed section 9A 2 of the bill is inconsistent with Article 12 1 of the constitution, however this inconsistency shall cease if word ‘may’ will be replaced with word ‘shall’ as set out in the determination of the supreme court.”

“Clause No 9 is inconsistent with Article 12 1 of the constitution and only can be passed with special majority required under paragraph 2 of the Article 84. However, the inconsistency shall cease if clause is amended as set out in the determination of the supreme court.

Clause No 12, proposed section 17 10 of the bill is inconsistent with Article 12 1 of the constitution and can only be passed with special parliament majority required under Article 84 paragraph 2. However, the inconsistency shall cease if clause is amended as set out in the determination of the supreme court.”

Sections of clauses 13, 18, 20, 33 and 35 were also in violation of the constitution, and could only be passed by a special majority of parliament. (Colombo/Jun18/2024)

Continue Reading

Sri Lanka to exempt one house from imputed rent wealth tax: President

ECONOMYNEXT – Sri Lanka will exempt one house from a proposed wealth tax outlined in an International Monetary Fund program, President Ranil Wickremesinghe said.

About 90 percent of the people’s houses are likely to be exempt from the proposed tax, he said.

“[O]ne house will be exempt from this,” President Wickremesinghe told parliament Monday.

“It is going to have a very high threshold and I do not think the vast majority of the people in this country should even be worried about their house

“Don’t worry your house will be safe.”

The IMF program document however did not mention an exempt on one house, but did mention a threshold.

Taxing houses and thrift in general could have detrimental effects on people’s well-being housing stock and their willingness to remain in the country without migrating, critics say.

Related Sri Lanka to tax imaginary rents on houses under IMF deal

The mechanism of imputed rents was used because rates on houses was assigned to provincial councils and courts could strike it down.

Opposition legislator Harsha de Silva said the Samagi Jana Balwegaya welcomed President Wickremesinghe’s statement. (Colombo/June18/2024)

Continue Reading