The Board of Investment (BOI), Sri Lanka’s premier investment promotion agency, is to be abolished. It will be replaced by a new agency, which a Finance Ministry official said, would have wider powers to create a “globally competitive investment climate”.

More startling revelations of lands acquired by Air Force Commander Roshan Gunatilleke in the Knuckles conservation zone, have emerged after the Sunday Times exposure last week. The Air Chief owns a total of 80 acres in the conservation zone in violation of the country’s land reform laws. According to the Land Reform Law, possession of more than 50 acres by a family (husband, wife and children under 18 years) is illegal.