Former Chairman of the Sri Lanka Cement Corporation Gamini Ekanayake has  lodged a complaint against State Minister Chamara Sampath Dasanayake with the Criminal Investigation Department (CID).

He alleged that theft amounting to billions of rupees has taken place at the state-owned Kankasanthurai cement factory with the endorsement of the Minister.

Mr. Ekanayake had told the CID that he had taken all the steps to implement the decision to sell the scrap metal in this land in the Tender procedure, as per the relevant Cabinet decision.

But instead of implementing the cabinet decision, the State Minister had first removed much of the army personnel that was guarding the factory premises, leaving the premises largely unguarded.

He also pointed out that there is a clear connection between the recruitment of seven people from Badulla to this factory and the sudden withdrawal of scrap iron worth 22 million in two months after the army was withdrawn.

Lodging the complaint with the CID, the former chairman also called for a full formal investigation in this regard.

Following a revelation made in parliament over the alleged theft, an irate State Minister Chamara Sampath had berated the MP who had raised the question and the former Chairman.

The manner of his speech was severely criticized by opposition MPs and addressing the schoolchildren viewing the debate at the premises, MP Dallas Alahapperuma apologized to them on behalf of their public representatives.

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 8 August 2023, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of Licensed Commercial Banks (LCBs) by 200 basis points, from 4.00 per cent to 2.00 per cent, with effect from the reserve maintenance period commencing 16 August 2023.

This decision has been taken with the view to inject liquidity to the banking system and further reduce market liquidity deficit on a permanent basis, in line with the current monetary policy stance of the Central Bank.
“This reduction in the SRR is expected to release around Rs.200 billion of liquidity to the domestic money market, which would enable a further downward adjustment in the market lending rates as a result of the reduction in cost of funds of LCBs, thereby supporting the expansion in credit flows to the economy. While LCBs are expected to pass the benefit of the SRR reduction to their customers without delay, the Central Bank will continue to monitor market developments, and take appropriate administrative measures, if required, to ensure faster reduction of market lending rates,” a CBSL statement says.

National cricketer Danushka Gunathilaka who has been stranded in Australia for more than eight months will be allowed to travel domestically after his bail conditions were eased.

Gunathilaka appeared in Sydney Downing Centre District Court earlier today to ask the court for leniency on his bail.

He has previously pleaded not guilty to raping a woman in her Sydney home while he was in the country for the T20 World Cup last year.

Gunathilaka was arrested and charged in November last year as he prepared to fly home to Sri Lanka with his teammates, and he has since been prevented from leaving the country.

He was granted bail on November 17 with strict conditions that he surrender his passport and not approach any international point of departure.

Earlier today, the 32-year-old asked the court to vary his bail to allow him to travel within Australia on two occasions this month.

(newsradio)