Sri Lanka Original Narrative Summary: 18/10

Date:

  1. The Ceylon Electricity Board’s 22 percent tariff hike is facing delays due to inaccurate data submitted to the Public Utilities Commission of Sri Lanka (PUCSL), which has requested a revised submission by Wednesday. The CEB’s forecasted power demand for September and the following months has raised concerns about the accuracy of their assumptions.
  2. Sri Lanka is urging China to share the terms of its recent $4.2 billion bilateral debt deal with other creditors to promote transparency and facilitate its financial recovery efforts, over a year after it defaulted. This request is part of Sri Lanka’s broader efforts to finalize agreements with its official creditor committee, which includes Japan, India, and the Paris Club, as it grapples with a substantial overseas debt of over $12 billion following its default in May 2022.
  3. Twenty-seven Indian fishermen, arrested for allegedly poaching in Sri Lanka’s territorial waters, received material and legal assistance from the Indian mission in Jaffna after the Sri Lankan Navy detained them in separate incidents.
  4. In September 2023, Sri Lanka experienced a decline in manufacturing activities, with a Manufacturing PMI of 45.7, attributed to decreased consumer demand, heightened competition from imported goods, and reduced global demand, particularly in sectors like food, beverages, textiles, and apparel. Nevertheless, there is optimism for the manufacturing sector in the near future, driven by expected increased demand during the upcoming festive season. In contrast, service activities exhibited growth during the same period.
  5. President Ranil Wickremesinghe reappoints current police chief C.D. Wickramaratne despite the Constitutional Council unanimously vetoing the service extension given last week.
  6. The Speaker endorses the certificate on the Bills Civil Procedure Code (Amendment), Elections (Special Provisions), National Eye Bank Trust of Sri Lanka, Sri Lanka Ports Authority (Amendment) and Civil Aviation (Amendment).
  7. State Minister of Social Empowerment Anupa Pasqual said that steps are being taken to introduce a pension scheme for those who are self-employed. The proposal was submitted to the Ministry of Finance.
  8. The Ministry of Public Security opens a hotline for the public to file complaints (118) against police officers in connection with their misconduct.
  9. President Ranil Wickremesinghe underscores the need to enhance the political, economic and cultural ties between Sri Lanka and Indonesia by reinforcing the Indian Ocean’s identity, during an official meeting with Indonesian President Joko Widodo in Beijing.
  10. Sri Lanka Cricket’s Independent Inquiry Committee has recommended lifting the ban on Cricketer Danushka Gunathilaka, who was suspended in November 2022 following criminal allegations related to alleged sexual assault in Australia during his travel as a member of the National team for the T20 World Cup 2022.

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