News

PC polls not linked to Trinco oil farm deal with India

04 Jan, 2022

Feature Image

The Provincial Council (PC) election is not linked to the Trincomalee oil farm deal with India, Energy Minister Udaya Gammanpila said today.

He said that the Provincial Council election has not been discussed by the Government in recent days.

“There is no pressure from any country for us to hold the PC elections,” the Minister added.

Gammanpila said that the Cabinet had yesterday (Monday) approved the proposal for Sri Lanka to sign an agreement with India on the Trincomalee oil farm.

He said that Sri Lanka and India are likely to sign the agreement next week.

The Minister also insisted that the relief package announced by the Government yesterday was not linked to the PC polls.

Gammanpila said that after reviewing the three existing agreements with the Government of India regarding the Trincomalee oil tank farm, the two countries reached an agreement to implement a joint development project.

A subsidiary has already been formed under the Ceylon Petroleum Corporation to develop the Trincomalee oil tank farm. The subsidiary has been named the Trinco Petroleum Terminal Ltd.?(Colombo Gazette)

Recommended For You

Feature Image

Sri Lanka looks to China, Japan and India to boost Rupee

Sri Lanka is in talks with China, Japan and India to obtain funds to help strengthen the Sri Lankan Rupee. Prime Minister Ranil Wickremesinghe told Parliament today that India has already agreed to a currency swap while negotiations are underway with China and Japan. The Reserve Bank of India (RBI) has agreed to provide USD 400 mn to the Central Bank of Sri Lanka (CBSL) under its SAARC SWAP facility, CBSL had announced yesterday. Wickremesinghe confirmed this and said that India is considerin

10 Jan, 2019

Feature Image

Hambantota Port reports increase in vessels docking

The Hambantota International Port (HIP) saw an increase in vessels docking at the port on the first week of the new year, the Port said. One of the region’s top multipurpose ports, HIP is currently handling a number of different activities, from ship to ship transfers (STS) to ship repairs and warm layups. Apart from the regular car transshipment vessels, there is a vessel requiring Ship to Ship transfer (STS) operations and a ship belonging to the Sri Lanka navy amongst the six vessels curren

10 Jan, 2019

Feature Image

Mangala to visit Washington next week for talks with IMF

Minister of Finance and Mass Media Mangala Samaraweera will visit Washington next week for talks with the International Monetary Fund (IMF). He will be in?Washington from?14 ? 16 January 2019 to resume negotiations with the IMF?on the Extended Fund Facility, the Central Bank said today. The IMF had in November?decided to suspend funding for Sri Lanka as a result of the political crisis. Sri Lanka?s three-year extended arrangement was approved on June 3, 2016, to the amount of about US$1.5 bil

09 Jan, 2019