Friday, June 14, 2024

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Sri Lanka Original Narrative Summary: 10/08

  1. Speaker Mahinda Yapa Abeywardene rules that Courts cannot intervene against the Domestic Debt Re-structuring Resolution passed in Parliament: Supreme Court dismisses the FR petition filed by JVP Trade Unionist Wasantha Samarasinghe & 6 others urging Court to issue an order preventing the Govt from writing off EPF & ETF funds belonging to Members, during the Domestic Debt Re-structuring process.
  2. SJB MP Champika Ranawaka says that according to a report submitted to Parliament by the Finance Ministry, the National Water Supply and Drainage Board has been earning profits during the past 6 months, and hence, the recent tariff increases can’t be justified.
  3. US State Department Coordinator on “Global Anti-Corruption” Richard Nephew to meet Govt, Opposition, IMF, private sector, and civil society interlocutors, while in Colombo: US Embassy says the visit is to better understand efforts to address corruption.
  4. President Ranil Wickremasinghe says 90% of the land occupied by the Security Forces & Police in 2009 has been gradually released: such land totals 22,919 acres, consisting of 817 acres of state-owned land and 22,101 acres of privately owned land: presently, the occupied land area by Security Forces & Police is 3,754 acres, with 862 acres being state-owned & 2,892 acres being privately owned.
  5. CB’s Monetary Board reduces the Statutory Reserve Ratio on all Rupee deposit liabilities of Licensed Commercial Banks from 4% to 2%, with effect from the reserve maintenance period commencing 16 August 2023.
  6. NPP MP Vijitha Herath alleges that President Ranil Wickremesinghe has granted 250 to 300 liquor licences after he assumed duties as the Minister of Finance: also says the new Betting and Gaming Levy (Amd) Bill will allow the issuing of unlimited numbers of licences for casinos in the country apart from the currently existing four licences.
  7. Colombo Additional Magistrate Rajindra Jayasuriya orders the Borella Police to conduct further investigations into the recent death of a 3-year-old at the Lady Ridgeway Hospital.
  8. Sri Lankan High Commissioner in India Milinda Moragoda says the recent visit by President Ranil Wickremesinghe has consolidated the trust-building process between the 2 countries and that Sri Lanka sees India’s security as SL’s own security.
  9. Analysts say shares closed down after “profit taking” spurred the market: ASPI down 0.79% or 92 points to 11,632: analysts also say the economy has displayed some stability and recovery, resulting in buying power for the banking sector and blue chip counters.
  10. Israel’s Arkia Airlines announces plans to launch the first-ever direct flight from Tel Aviv to Sri Lanka: inaugural flight scheduled for Oct 31.

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