Monday, May 12, 2025
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Sri Lanka Original Narrative Summary: 24/04

  1. Cumulative earnings of 281 listed companies suffer massive decline of 44% in the quarter ended Dec’22: first time since 2020: big losing segments were Capital Goods (-82.6%), Transportation (-87.0%), Telecommunications (-226.8%), & Diversified Financials (-38.9%).
  2. Finance Ministry instructs all ministries, provincial councils, departments, district secretariats, state corporations, statutory boards and state-owned enterprises to immediately implement the long overdue electronic Govt Procurement (e-GP) system, in keeping with an IMF requirement.
  3. Agriculture Ministry Secretary Gunadasa Samarasinghe asks the Chinese Embassy for details of a Chinese animal breeding company which had sought to obtain 100,000 toque macaques reportedly for zoos in China.
  4. President Ranil Wickremesinghe says the country’s balance of payments is not currently favourable: asserts steps are being taken “to implement reforms and restructuring to create opportunities for growth”: also says the next immediate action is to present the IMF arrangement to Parliament and request its support: promises to have the growth agenda ready next month.
  5. Survey conducted by the National Physical Planning Dept shows urbanisation has increased to 45% in 2022 from 18.5% in 2012: rapid population growth and a hike in migration of people from rural areas attributed as the reasons.
  6. Five persons (three female and two male) found hacked to death in a house in the Delft area in Jaffna: another female hospitalised with serious cut injuries: no arrests thus far: investigations underway.
  7. Youth, 21, who was arrested for giving an anonymous false tip-off to the police about a possible bomb threat in the Akurana area, remanded until May 4.
  8. Energy Ministry withdraws its own Cabinet paper on revised feed-in tariffs for renewable energy after deciding it is too complicated: Federation of Renewable Energy Developers Vice President Manjula Perera says despite the Govt’s pledge to generate 70% of electricity through renewable sources by 2030, new projects are blocked by the continued failure to introduce a viable tariff.
  9. Human Rights Commission summons representatives of Tri-forces in relation to the investigations into the torching of President Ranil Wickremesinghe’s private residence on 9 July 2022.
  10. New commemorative stamp issued marking a site in the epic Ramayana in the Central highlands: stamp commemorates the Sita Amman Temple, which is believed to be in the site known as Ashok Vatika in the Ramayana where Sita was held captive by King Ravana.

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