Indian External Affairs Minister arrives

Ceylon Petroleum Corporation refinery to be a separate entity

The Ceylon Petroleum Corporation (CPC) refinery is to be made into a separate entity, Energy Minister Kanchana Wijesekera said. He said that under the CPC restructuring plan, the CPC owned refinery will be set up as a separate Government owned and operated entity. The new entity will look to attract and raise necessary investments for improving the fuel quality, efficiency, capacity and lowering the cost. Wijesekera said the CPC’s current approved carder and salary structure will also be revi

26 Jun, 2024

China to work with financial institutions to support Sri Lanka in realizing debt sustainability

China stands ready to work with relevant countries and international financial institutions to support Sri Lanka in realizing debt sustainability, Chinese Foreign Ministry Spokesperson Mao Ning said on Wednesday. The Export-Import Bank of China was the first to tentatively agree with Sri Lanka on debt treatment, which has been crucial for Sri Lanka to advance fiscal reform and win further support from international creditors, she said in response to a question during her regular briefing held i

26 Jun, 2024

Sri Lanka and China sign debt treatment agreements in Beijing

Sri Lanka signed debt treatment agreements in Beijing with China’s Exim Bank, Wednesday, to restructure USD 4.2 billion of debt. The Framework Agreement related to this was signed between Sri Lanka and China in Colombo, Sri Lanka, the President’s Media Division said. The restructuring provides significant debt relief, allowing Sri Lanka to allocate more funds to essential public services and resume concessional financing for critical infrastructure development. Earlier, Chinese Foreign Minist

26 Jun, 2024