Defence

Sri Lanka p’ment will not debate controversial defence university bill this week

KDU hospital, Werahera

Wednesday August 4, 2021 10:48 am

ECONOMYNEXT – The controversial Kotelawala National Defence University (KNDU) bill will not be debated in Sri Lanka’s parliament this Friday (06), Minister Chamal Rajapaksa said.

Responding to a question by former prime minister and United National Party (UNP) MP Ranil Wickremesinghe in parliament Wednseday (04) morning, Rajapaksa asked for more time to present the bill.

“I will not be presenting it that day as I believe MPs and the public should be given more time to express their views [on the bill],” the minister said.

Opposition leader Sajith Premadasa, meanwhile, called for a complete cancellation of the bill with a view to protecting free education. Premadasa requestied the government to start from scratch and hold discussions with all stakeholders.

The KNDU bill has been controversial for a number of reasons, chief among which is allegations that it will lead to militarisation of higher education.

The General Sir John Kotalawela University came into being under a UNP government in 1980 as a part of an armed forces modernisation scheme. The university was established by the Military Academy Act of 1981 and the amending Acts of 1988 and 2007. Section 128 exempts the KNDU rom Section 123 of the Universities Act. In 2012 fee paying students were admitted to this university.

The controversial South Asia Institute of Technology and Medicine (SAITM) was incorporated into the KNDU in 2017.

The current bill was first presented in 2018 under the previous United National Party (UNP)-led Yahapalana government. The current government under President Gotabaya Rajapaksa brought in the bill again in July for a second reading.

Sri Lanka’s opposition parties including the main opposition Samagi Jana Balavegaya, which broke away from the UNP, the UNP itself, and the leftist Janatha Vimukthi Peramuna (JVP)-led National People’s Power (NPP) have said that the bill, if passed, could remove the KNDU from the purview of the ministry of education and the University Grants Commission (UGC) and be brought entirely under the purview of the ministry of defence.

As per clause 18 of the bill, the board of governors of the KNDU will be appointed by the minister of defence and will consist of nine members. This includes the secretary and additional secretary to the ministry of defence, one nominee each from the UGC and the treasury, the chief of defence staff, the commanders of the army, navy and air force, and the vice-chancellor of the university who will be a military officer.

Clause seven of the bill states: Where the [defence] minister is of the view that any situation prevailing in the university is likely to endanger national security or is detrimental or prejudicial to national policy or is likely to disrupt the smooth functioning of the university, he may direct the board of governors to take all such steps as he may deem necessary, to bring such situation under control.

Clause five (o) of the bill states: “The university shall, subject to the provisions of this act, have the power to establish campuses, colleges, faculties, departments, centres, academic institutions and such other specialised institutes, schools and divisions as may be required by the university.”

Sri Lanka’s leftist parties have historically been opposed to privatising education. (Colombo/Aug03/2021)

FILED UNDER: chamal rajapaksa,education,free education,iusf,JVP,kndu bill,kotelawala defence university,politics,protest,Ranil Wickremesinghe,SJB,Sri Lanka,UNP

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Legal

Sri Lanka finding ways to clear 1.1mn pending cases: Justice Minister

Tuesday December 5, 2023 7:45 am

ECONOMYNEXT – Sri Lanka is taking a series of steps to speed up 1.1 million pending court cases and encourage alternative dispute solving mechanisms, Justice Minister Wijedasa Rajapakshe said.

“The delay in court cases is a serious problem,” Minister Rajapakshe told a briefing at the President’s Media Centre.

“We have already taken several steps to expedite cases.”

There were 5,680 cases in Supreme Court, 4,054 in the Court of Appeal, 6,168 in the High Court of Civil Appeal, 8,363 in the Commercial High Court, 28,000 in the High Court, 254,000 in District Courts and 791,000 in Magistrates Courts.

In 2015, only 49 percent of complaints to mediation boards were resolved. Following reforms, the ratio has been increased to 70 percent.

The value of disputes going to mediation board has been raised to one million rupees from 500,000 rupees.

To solve land problems in the post-war period, special mediation boards on property was set up in the North and the East.

Mediation boards on property will be set up in another 16 districts.

Commercial High Courts were increased to four from three.

Another Commercial High Court will be set up in the future. The consideration of cases that can go to a High Court was raised from 4 million rupees to 10 million rupees.

A commercial dispute resolution law will be introduced next January.

A small claims court has been established.

Case involving disputes below 2 million rupees can be directed to small claims court.

Markets

Sri Lanka stocks close up as some investor interest returns

Monday December 4, 2023 6:12 pm

ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, CSE data showed.

The All Share Price Index was up 0.22 percent, or 23.33 points, at 10,743.59.

The S&P SL20 index was up 0.68 percent, or 20.60 points, at 3,067.73.

Turnover was at 708 million. The banks sector contributed 189 million, while the food, beverage and tobacco sector contributed 176 million of this.

Sri Lanka’s stock market has seen some investor interest return after last week’s news that the country had managed an agreement on a debt restructuring deal with an official creditor committee, and foreign funds for some development projects resumed.

Top positive contributors to the ASPI in the day were Sampath Bank Plc (up at 71.50), LOLC Holdings Plc (up at 379.00), and Commercial Bank of Ceylon Plc, (up at 90.90).

There was a net foreign outflow of 52 million.

Citrus Leisure Plc, which announced that its banquet hall and revolving restaurant at the Lotus Tower would launch on or around Dec 9, saw its share price rise to 6.20 rupees. (Colombo/Dec4/2023).

Bonds & Forex

Sri Lanka rupee closes broadly steady at 328.10/30 to the US dollar

Monday December 4, 2023 5:24 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.10/30 to the US dollar on Monday, from 328.00/10 on Friday, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.70/14.00 percent from 13.70/95 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.10 percent from 13.90/14.05 percent.

A bond maturing on 15.01.2027 closed at 14.00/14.10 percent from 14.05/10 percent.

A bond maturing on 01.07.2028 closed at 14.20/35 percent from 14.15/25 percent.

A bond maturing on 15.05.2030 closed at 14.25/45 percent, from 14.20/45 percent.

A bond maturing on 01.07.2032 closed at 14.05/40 percent, from 14.00/45 percent. (Colombo/Dec4/2023)