February 28, Colombo (LNW): Former Finance Minister Ronnie de Mel, aged 98, breathed his last on Tuesday (Feb.27) while undergoing treatment at a private hospital in Colombo.

The veteran politician had played a significant role in the country’s financial landscape, and his demise marks the end of an era. The nation mourns the loss of a distinguished figure who dedicated years to public service.

1. Pathfinder Foundation is hosting the third phase of its Indian Ocean Security Conference, promoting dialogue among regional nations. President Ranil Wickremesinghe, U.S. Ambassador Julie Chung, and Japanese Deputy Assistant Minister Hayashi Makoto are among the notable speakers discussing complex topics impacting global security and supply chain resilience.
2. Uddika Premarathne of Sri Lanka Podujana Peramuna (SLPP) has resigned as a Member of Parliament. The Anuradhapura District parliamentarian has handed over the letter of resignation to the Deputy General Secretary of Parliament Mr. Chaminda Kularatne, yesterday (Feb.27).
3. Opposition Leader Sajith Premadasa claims that the Constitutional Council (CC) did not approve the appointment of Deshabandu Tennakoon as the new Inspector General of Police (IGP) and charged that the country’s Constitution is being blatantly violated for the second time.
4. The Jathika Jana Balavegaya has joined the opposition in supporting a No Confidence Motion against Parliament Speaker Mahinda Yapa Abeywardena. The motion, initiated by the Samagi Jana Balawegaya on Monday, cites reasons such as the Speaker’s failure to properly present Supreme Court amendments for the Online Safety Bill before its passage. The motion is part of the ongoing parliamentary developments.
5. Cabinet approval has been granted to implement a project funded by the Asian Development Bank (ADB) to provide credit facilities at concessional interest rates to existing micro, small and medium-scale enterprises (MSMEs) in Sri Lanka for further expansion and recovery of their businesses.
6. Ministry of Education officials stated that arrangements have been made to launch new educational publications compiled to provide education on sexuality from the pre-childhood development stage to the adult community, on the 7th of March 2024.
7. Police dispersed protesting students near the University of Sri Jayewardenepura using tear gas and water cannons. The demonstration, organized by the Faculty of Humanities and Social Sciences students’ union, sought solutions for concerns like hostel problems, cafeteria issues, and delays in ‘Mahapola’ scholarship payments.
8. Cabinet approved the proposal by President Wickremesinghe to create a “Children of Gaza Fund” in aid of Gaza violence victims. The President’s Media Division said that all Ministries & Government Institutions are directed to forego Ifthar celebrations & contribute to this fund.
9. The United Nations Fund for Population Activities (UNFPA) Asia Pacific Regional Director, Pio Smith is scheduled to visit Sri Lanka from February 28 to March 01, 2024.
10. Sports Minister Harin Fernando has met Sri Lanka national cricketers to discuss issues faced by them.The Captains of all three formats including senior cricketers, Cricket Consultant Sanath Jayasuriya, and Chief Selector Upul Tharanga participated in the meeting.

February 28, Colombo (LNW):The Sri Lankan government, under the guidance of President Ranil Wickremesinghe, has initiated a Rs.20 billion credit scheme aimed at rejuvenating the micro, small, and medium enterprise (MSME) sector. The Cabinet of Ministers has granted approval to the proposal, as announced by Cabinet Spokesman and Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana during the weekly Cabinet media briefing.

Dr. Gunawardhana outlined that the Rs.20 billion project comprises two components, with Rs.15 billion allocated to strengthen existing and new enterprises. The remaining Rs.5 billion will be utilized to support enterprises categorized under non-performing loans. The economic downturn and external factors have posed challenges for entrepreneurs in sectors such as manufacturing, import, export, tourism, and apparel.

Addressing these difficulties, the Asian Development Bank has collaborated to provide working capital support for the Small and Medium Enterprise sector. The proposed credit scheme intends to offer facilities to existing micro, small, and medium-scale enterprises, facilitating their expansion and business recovery through licensed commercial banks and licensed specialized banks at concessional interest rates. This initiative aims to provide much-needed relief to entrepreneurs grappling with economic challenges and external impacts beyond their control.

February 28, Colombo (LNW): The Education Ministry has announced the upcoming launch of new educational publications focused on sexuality education, spanning from pre-childhood development to the adult community. The release is scheduled for March 7, as revealed during a recent meeting of the Parliamentary Caucus for Children, chaired by MP Rohini Kumari Wijerathna.

Education Ministry officials highlighted that these educational materials aim to address the limited knowledge on sexuality education in Sri Lanka, a concern that has prompted the compilation of resources suitable for various age groups. The publications cover pre-school children up to the 13th grade and extend to the adult community.

Research-backed and compiled by experts in the respective fields, the sexuality education publications have received full supervision and approval from the Education and Health Ministers. In the initial phase, these publications will be provided as electronic publications (E-publications).

Officials emphasized that the formal imparting of knowledge about sexuality to all age groups can contribute to alleviating societal crises and enhance the safety of children. Opposition Leader Sajith Premadasa, along with MPs Dr. Sudarshini Fernandopulle, Eran Wickramaratne, K. Sujith Sanjaya Perera, Imran Maharoof, and officials from the Education and Health Ministries attended the Committee meeting where these developments were discussed.

February 28, Colombo (LNW): Justice, Prisons Affairs, and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakshe, PC, announced yesterday that proactive steps are being taken to alleviate challenges associated with Parate execution, aiming to prevent crises for businesses and financial institutions. Plans are underway to propose amendments to Parliament in this regard, signaling a commitment to address crucial legal matters for the country’s governance and justice system.

During a press briefing at the Presidential Media Centre themed ‘Collective Path to a Stable Country,’ Minister Dr. Rajapakshe also unveiled plans for a distinct loan scheme designed specifically for Small and Medium Enterprises (SMEs). The initiative aims to boost the economic prospects of smaller businesses, contributing to overall economic resilience and growth.

Addressing the media, Dr. Rajapakshe emphasized the government’s dedication to advancing legal reforms and supporting SMEs as part of its commitment to national progress and prosperity. He stated, “A nation’s fiscal policy is integral to its economic strength,” highlighting the government’s focus on ensuring stability and balance in the financial sector.

Dr. Rajapakshe discussed concerns about the Central Bank’s focus on safeguarding financial stability and raised questions about whether sufficient attention has been given to the country’s overall balance sheet, especially amidst declines in the agricultural and industrial sectors. He stressed the need for stringent financial controls to ensure optimal resource utilization and sustainable economic development.

Highlighting the challenge of loans totaling approximately Rs. 602 billion, he noted that a significant portion is expected to be written off as bad debt. Dr. Rajapakshe suggested that redirecting these funds toward agriculture and industry could have fueled significant growth. In response to these challenges, the government is working on a low-interest loan program for SMEs, collaborating with institutions like the World Bank and the Asian Development Bank.

The Minister also emphasized responsible lending and announced discussions with the Cabinet to establish a monitoring system for credit facilities. Further refinements to these strategies are expected through deliberations with the Finance Ministry.

February 28, Colombo (LNW): Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana declared on [insert date] that stringent actions will be taken to temporarily revoke the route permits of private buses involved in assaulting Sri Lanka Transport Bus (SLTB) crews. The minister emphasized the need for collective efforts to combat the rising incidents of terrorism on the road targeting SLTB.

This statement followed the Minister’s engagement with SLTB employees protesting outside the Mass Media Ministry against the frequent attacks on SLTB bus drivers and conductors by private bus employees. During the site visit, the Minister discussed the challenges faced by the protesting workers and urged trade unions to refrain from resorting to strike action, allowing proper police investigations.

Minister Gunawardhana announced his decision to prohibit private buses from entering Central Bus Stand in Pettah due to the ongoing attacks on SLTB crews and government property damage. Despite requests to allow private buses for the implementation of a combined timetable system, the Minister assured the implementation of a joint timetable as scheduled.

During a special meeting attended by Minister Dr. Gunawardhana and SLTB trade union representatives, discussions were held on workers’ demands. The incident involving the assault on the driver and conductor of an SLTB bus from Nugegoda to Homagama Pitipana was highlighted, prompting the Minister to pledge immediate investigation and action.

The Minister reiterated his commitment to stand for SLTB and its staff, urging employees to work peacefully and avoid taking matters into their own hands. Emphasizing the proper implementation of the law, he assured ongoing support and announced the initiation of a special insurance scheme for the safety and welfare of SLTB employees.

February 28, Colombo (LNW): Several spells of showers will occur in Eastern, Uva and North central provinces and in Nuwara-Eliya and Matale districts.

Showers or thundershowers may occur atseveral places in Western and Sabaragamuwa provinces and in Kandy, Galle and Matara districts in the evening or night.

Fairly strong winds about (30-40) kmph can be expected at times in eastern slopes of the central hills and in Northern, North-central, North-western, Southern,Uvaand Easternprovinces.

The public is kindly requested to take adequate precautions to minimize the damages caused by temporary localized strong winds and lightning during thundershowers.