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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

» CCS.N0000 ( Ceylon Cold Stores)
Public tribunal unanimously opposes Port City project EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Public tribunal unanimously opposes Port City project EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Public tribunal unanimously opposes Port City project EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Public tribunal unanimously opposes Port City project EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Public tribunal unanimously opposes Port City project EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Public tribunal unanimously opposes Port City project EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Public tribunal unanimously opposes Port City project EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Public tribunal unanimously opposes Port City project EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
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» In the Meantime Within Our Shores!
Public tribunal unanimously opposes Port City project EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Public tribunal unanimously opposes Port City project EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Public tribunal unanimously opposes Port City project EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Public tribunal unanimously opposes Port City project EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Public tribunal unanimously opposes Port City project EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Public tribunal unanimously opposes Port City project EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Public tribunal unanimously opposes Port City project EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Public tribunal unanimously opposes Port City project EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Public tribunal unanimously opposes Port City project EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Public tribunal unanimously opposes Port City project EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Public tribunal unanimously opposes Port City project EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
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» GLAS.N0000 (Piramal Glass Ceylon PLC)
Public tribunal unanimously opposes Port City project EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Public tribunal unanimously opposes Port City project EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Public tribunal unanimously opposes Port City project EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Public tribunal unanimously opposes Port City project EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Public tribunal unanimously opposes Port City project EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
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» Bitcoin and Cryptocurrency
Public tribunal unanimously opposes Port City project EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Public tribunal unanimously opposes Port City project EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Public tribunal unanimously opposes Port City project EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
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» NTB.N0000 (Nations Trust Bank PLC)
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» Going South
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» When Seagulls Follow the Trawler
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» Re-activating
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Public tribunal unanimously opposes Port City project EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Public tribunal unanimously opposes Port City project EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Public tribunal unanimously opposes Port City project EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Public tribunal unanimously opposes Port City project EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Public tribunal unanimously opposes Port City project EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Public tribunal unanimously opposes Port City project EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Public tribunal unanimously opposes Port City project EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Public tribunal unanimously opposes Port City project EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Public tribunal unanimously opposes Port City project EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Public tribunal unanimously opposes Port City project EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Public tribunal unanimously opposes Port City project EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Public tribunal unanimously opposes Port City project EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Public tribunal unanimously opposes Port City project EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

» DV-2024 Program: Online Registration
Public tribunal unanimously opposes Port City project EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

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    Public tribunal unanimously opposes Port City project

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    Public tribunal unanimously opposes Port City project Empty Public tribunal unanimously opposes Port City project

    Post by Backstage Fri Apr 10, 2015 11:54 am

    .
    Public tribunal unanimously opposes Port City project
    2015-04-10 11:02:29
    Says harms far outweigh the benefits

    By Chandeepa Wettasinghe
    A public tribunal hosted by anti-corruption watchdog Transparency International Sri Lanka yesterday decided that the Port City project should be cancelled, as all benefits it may provide are outweighed by economic, social, environmental and political harm.

    “They (China Communications Construction Company Ltd.) simply say that there are no impacts. The economic, environmental and social harms far outweigh the benefits. We have to stop this,” Attorney-at-Law S. G. Punchihewa, who chaired the panel of judges said.

    Attorney-at-Law Chandrapala Kumarage and Coast Conservation expert Dr. Jayampathy Samarakoon made up the rest of the panel.

    Quoting various individuals who had presented their cases against the development of the Port City, Punchihewa said that 32,000 species of marine life could be destroyed, and along with coastal degradation, would affect up to 500,000 lives depending on the fisheries industry.

    He added that coastal tourism would face harm, which would not justify the 83,000 jobs and tourism opportunities created by the Port City.

    Punchihewa also said villagers in the areas where the 8.5 million tonnes of sand and granite are being mined are facing difficulties as well.

    He said that an Environment Impact Assessment had not been completed, and the whole project was based on a report compiled by an academic who was at the University of Moratuwa, who has since been employed by the Chinese, and added that proper archaeological assessments were also not done.

    Meanwhile, Punchihewa noted that if Port City project goes ahead, the country would have to face what he called “constitutional crises.”

    Punchihewa said that the foreign land ownership would give China rights to the airspace, and a maritime territorial strip extending up to 200 nautical miles.
    “Will our executive, judiciary and legislature be effective in there? Will the people living there be Chinese or Sri Lankan?” Punchihewa asked. Further, he said that the agreement between the two countries was commercial, and written just to reclaim land, and not to construct any buildings.

    Punchihewa and the testifiers said the new regime is now not concerned with the project despite saying that they will halt it during election season.
    However, no government representatives, professionals in the construction or tourism industry and officials of CCCC were present at the tribunal to either express their ides or to defend themselves.

    The government is currently conducting a special investigation into the matter, while CCCC has claimed that it has submitted all relevant paperwork.

    The Chamber of Construction Industry recently called the government to allow the Port City to go ahead, as it said that proper procedure has been followed, and that retracting signed agreements would paint an extremely negative picture in the minds of potential investors.

    However, the professional body was also criticized at the tribunal for not caring about the public.
    The findings of the tribunal will be forwarded to the President and the Prime Minister shortly.
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    Public tribunal unanimously opposes Port City project Empty Re: Public tribunal unanimously opposes Port City project

    Post by Backstage Fri Apr 10, 2015 12:43 pm

    Port City Project
    Environmentalists say no proper impact assessment done
    Chaminda Perera

    Environmentalists and members of general public yesterday said that a proper study on the impact on the maritime environment has not been carried out by those involved in the preparation of Environment Assessment Report for the Colombo Port City project

    They said the maritime biologists and maritime archaeologists have not been included in the team that was entrusted with the task of preparing the Environment Assessment Report of the project.

    Giving evidence before a Public Arbitration Board organized by the Transparency International at the public library premises yesterday, they said that the impact on the maritime archaeological assets and marine eco- system due to this project has not been properly assessed by this report.

    Director Environment Conservation Trust Sajeewa Chamikara, yesterday said that there are serious lapses and shortcomings in the Environment Assessment report for the Colombo Port City Project.. He said that the report does not include any assessment on the environment impact due to expansion of the project.

    He said that the approval has been given to this project based on this incomplete Environment Assessment Report. Chamikara said adequate alternative analysis has not been carried out over this project. He also said the report has not been kept open for public dialogue too.

    Chamikara added that many areas in the country were experiencing adverse environmental impact due to this project. He said that this report does not include any assessment done on the archaeological damage caused by this project.

    "This report has mentioned only few arcahaeological sites on the land but not a single word is found in the report about the archaeological importance in the sea area which is to be reclaimed under this project", he said

    He said that the Archaeological Department has done a limited survey on the Colombo South Harbour development project "The Environment Assessment Project for the Colombo Port City project has only mentioned about that survey", he said Chamikara said the team of experts of the University of Moratuwa which prepared the Environment Assessment Report for the Colombo Port City project was led by Professor S. Hettiarachchi

    "The Department of Coast Conservation should be held responsible for giving approval for this project without following proper procedures", he added.

    Answering a question raised by the panel of judges, he said that the Chinese company has no legal authority to discuss about the Environment Assessment Report as that company has not been given the approval by the Coast Conservation Department.

    He said the Coast Conservation Department has issued the Environment Assessment Report over this project to the Sri Lanka Ports Authority.

      Current date/time is Thu Jun 20, 2024 11:22 am