February 25, Colombo (LNW): Participating in discussions regarding the growth and sustainable development of BIMSTEC countries convened in New Delhi, India, Sri Lanka’s Finance State Minister Shehan Semasinghe underscored the imperative of fostering active collective agreements among member nations of the BIMSTEC group, which comprises Sri Lanka, India, Thailand, Myanmar, Bangladesh, Nepal, and Bhutan.

Addressing the gathering, the minister highlighted the lapse in progress concerning an agreement established nearly two decades ago aimed at formulating a framework for a free trade agreement among these nations.

While bilateral agreements exist between the involved countries, Minister Semasinghe emphasiaed the potential for a regional agreement to transcend these individual pacts, facilitating broader success.

He stressed that such an agreement would fortify trade relations among member nations and enhance regional security by addressing vulnerable areas.

Identifying the challenge of increasing financing amidst elevated global interest rates, the minister stressed the necessity of stimulating private investment and capital inflows within the region.

Semasinghe further underscored potential opportunities for investment and trade in the energy sector among BIMSTEC countries, noting ongoing engagement in energy trade and highlighting Sri Lanka’s renewable energy potential, particularly in wind and solar energy, beyond traditional hydropower sources.

Moreover, he affirmed Sri Lanka’s efforts to promote regional investment in power generation and ongoing discussions with India regarding electricity connectivity to facilitate energy trade.

The Minister also emphasised Sri Lanka’s engagement in global forums, particularly regarding climate change, advocating for financial assistance to vulnerable countries.

He noted the imperative of translating rhetoric into tangible actions to realise these objectives.

February 25, Colombo (LNW): The Central Bank of Sri Lanka (CBSL) has formally petitioned the President, acting in his capacity as the Minister of Finance, for a forum to elucidate the procedural and conceptual framework underlying the recent adjustment in salaries for CBSL personnel to Members of Parliament.

The request, conveyed in writing by CBSL Governor Nandalal Weerasinghe, underscored the institution’s commitment to transparency and accountability.

It highlights that the recent recalibration of CBSL employees’ remuneration was endorsed by the Governing Board within the framework of the triennial Collective Agreement negotiated with Trade Unions spanning the period 2024-2026.

At its meeting on 21 February, the Governing Board tasked Weerasinghe with the formal request to President Ranil Wickremesinghe, seeking an opportunity to brief Parliamentarians on the rationale behind the salary revision.

In a statement issued in response to this development, CBSL affirmed its readiness to articulate its stance and provide necessary clarifications either upon being granted the requested platform or upon receipt of pertinent inquiries from relevant authorities.

By: Staff Writer

February 25, Colombo (LNW): The United States remains committed to the economic growth and prosperity of Sri Lanka, Deputy Secretary of State for Management and Resources Richard Verma told government, civil society and economic leaders during his visit to Sri Lanka.

Verma met with President Ranil Wickremesinghe and Foreign Minister Ali Sabry to discuss progress on Sri Lanka’s IMF program, including inclusive economic and governance reforms aimed at keeping Sri Lanka on the path to sustainable economic growth, the US Embassy in Colombo said. 

Deputy Secretary Verma stressed the vital need to protect human rights and fundamental freedoms, including freedom of expression, the statement said.

They also explored opportunities to deepen defense and maritime cooperation between the United States and Sri Lanka, including strengthening the Sri Lanka Navy’s capabilities to safeguard national security and promote a more stable Indo-Pacific region.

On February 23, aboard the SLNS Vijayabahu, one of three former U.S. Coast Guard cutters transferred by the United States to Sri Lanka, Deputy Secretary Verma said, “I am pleased to announce that the Department of State has notified Congress of our intent to transfer a fourth medium endurance cutter to Sri Lanka. 

The Department obligated $9 million in Foreign Military Financing to support this effort.  We look forward to offering the cutter, pending the completion of Congress’ notification period.

If completed, this transfer would further strengthen defense cooperation between the United States and Sri Lanka.  The ship would increase Sri Lanka’s ability to patrol its Exclusive Economic Zone, monitor its search and rescue area, and provide additional security for ships from all nations that transit the busy sea lanes of the Indian Ocean.”

Participating in the announcement at Colombo Port were Sri Lanka State Minister of Defense Premitha Bandara Tennakoon, Commander of the Sri Lanka Navy Vice Admiral Priyantha Perera, and U.S. Ambassador to Sri Lanka Julie Chung, who remarked, “The United States has previously transferred three cutters to the Sri Lankan Navy, which deploys these ships for maritime operations and law enforcement missions, countering human trafficking and drug trafficking, while supporting humanitarian assistance and disaster response efforts.

The eventual transfer of a fourth vessel would be just one more point in a long history of cooperation between Sri Lanka and the United States in preserving a free and open Indo-Pacific region.”

Deputy Secretary Verma also visited the site of the West Container Terminal (WCT), a deepwater shipping container terminal in the Port of Colombo.

The WCT, currently being constructed by Colombo West International Terminal (CWIT) Private Limited with $553 million in financing from the U.S. International Development Finance Corporation, will provide critical infrastructure for the South Asian region.

Operating near capacity since 2021, the Port of Colombo’s new addition will be the port’s deepest terminal and aims to boost Colombo’s shipping capacity, expanding its role as a premiere logistics hub connecting major routes and markets, boosting prosperity for Sri Lanka without adding to its sovereign debt.

By: Staff Writer

February 25, Colombo (LNW): Sri Lanka is ready to face energy ionizing and thermal radiation as result of nuclear weapon attack in the region, officials of the atomic energy board claimed adding that they were equipped with well trained human resources and modern equipment to handle such an eventuality.

Nuclear weapon attack and shockwave consist of 50% of total energy thermal radiation: 35% of total energy. Ionizing radiation: 5% of total energy (more in a neutron bomb) residual radiation: 5–10% of total energy with the mass of the explosion, they explained.

The atomic energy board officials disclosed these details when they attended the sectoral oversight committee on Energy and Transport met at parliamentary committee recently.  

Meanwhile the committee appointed to look into forming the laws and regulations necessary for Sri Lanka to commence nuclear power generation projects is expected to complete that process by June this year (2024).

This was stated by the Sri Lanka Atomic Energy Board (SLAEB) Chairman Prof. S.R.D. Rosa, who serves as a member of the said committee.

He noted that the committee in question has taken into account the relevant legal and regulatory frameworks in place in the international context.

“If Sri Lanka is going for nuclear power generation, we first have to amend the Sri Lanka Atomic Energy Act, No. 40 of 2014, he said.

It currently provides for the non-power application of atomic energy,” he explained, referring to the Act which allows for the utilisation of radioactive materials and ionising radiation “for medical, environmental, agricultural, industrial, and other peaceful purposes, and for scientific and technological advancement, as may be required for national development.”

Prof. Rosa noted that the committee looks into the legal and regulatory frameworks of countries including Pakistan, and that the committee’s aim is to form laws and regulations that suit Sri Lanka.

The committee includes experts and officials representing a number of institutions including the SLAEB, the Sri Lanka Atomic Energy Regulatory Council (SLAERC), the Legal Draftsman’s Department, and the Attorney General’s Department, which, according to Prof. Rosa, commenced work several months ago under the leadership of Court of Appeal Judge, Justice Sobhitha Rajakaruna.

A letter shared by the SLAERC Chairman Saminda Jayasekara on LinkedIn showed that the committee, which is tasked with recommending amendments or a replacement for the said Act, includes members from the Foreign Affairs Ministry, the Ceylon Electricity Board, and the Power and Energy Ministry, in addition to independent experts.

Sri Lanka is looking into creating a suitable legal and regulatory environment for nuclear power generation in the backdrop of proposals and discussions regarding the construction of an onshore or offshore nuclear power plant with Russia’s support as a solution to the increasing energy demand.

February 25, Colombo (LNW): Coast guard personnel from India, the Maldives, and Sri Lanka have commenced a four-day trilateral exercise aimed at bolstering maritime security and interoperability in the Indian Ocean Region.

Known as ‘DOSTI-16,’ the exercise involves Indian Coast Guard ship Samarth, ICGS Abhinav, and Sri Lanka Naval Ship Samudura, with Bangladesh participating as an observer.

The trilateral exercise seeks to enhance cooperation, strengthen friendship, improve mutual operational capability, and develop interoperability among the Coast Guard personnel of the participating nations.

Welcoming ADG S Paramesh, Additional Director General of the Indian Coast Guard, the Maldives National Defence Force (MNDF) expressed warm greetings upon his arrival at the VIA.

Commanding Officers of the participating ICG ships held discussions with Commandant MNDF CG to explore avenues of cooperative engagement.

Activities throughout the exercise will include joint sea exercises involving the Indian Coast Guard, Sri Lanka Coast Guard, and Maldives National Defence Force.

The 16th edition of the India-Maldives-Sri Lanka trilateral exercise ‘Dosti’ underscores regional synergy to enhance maritime security and interoperability, as highlighted by the Indian Mission in Maldives.

Participating in such exercises enables the Sri Lanka Navy to augment cooperation and interoperability with other maritime stakeholders in the region, fostering knowledge exchange, strategy sharing, and collaborative problem-solving for emerging maritime challenges in the Indian Ocean Region.

1. Tensions rise over surging salaries at the Central Bank, sparking political speculation: Sources disclose that UNP leaders express public discontent to President Ranil Wickremesinghe, hinting it could influence the upcoming presidential polls: Wickremesinghe deflects responsibility, citing the Central Bank’s autonomy and suggests parliamentary intervention: Speculation mounts about the salary spike’s political impact.
   
2. Opposition Leader Sajith Premadasa and wife Jalani Premadasa announce parenthood to a baby girl: says as a father his ultimate hope is that his daughter grows up, receives a good education, and becomes a virtuous, civilised, educated and intelligent citizen of the country, just as any other parent.
   
3. NPP/JVP Leader MP Anura Kumara Dissanayake says Sri Lanka had always stuck in the process of moving forward due to its vanity towards centuries-old accomplishments, when other nations moved forward: laments politicians who came to power from time to time harboured this vanity instead of building the nation by measuring the country’s development in ancient establishments, thus losing major transformations.
   
4. The government is considering establishing a prison or rehabilitation centre on Mantheevu Island in Batticaloa, currently housing only two leprosy patients: Minister Wijeyadasa Rajapaksha visited the island to explore this possibility due to prison overcrowding concerns: The 100-acre island was previously used as a quarantine facility during the COVID-19 pandemic.
   
5. The Health Ministry is investigating suspected fatalities at Kurunegala Teaching Hospital’s dialysis unit: At least five deaths have occurred since January: A five-member committee, led by Chief Epidemiologist Dr. Samitha Ginige, will investigate the matter: The incident may be linked to unidentified pathogens introduced into the unit: The Ministry is conducting a comprehensive inquiry, and as a precaution, the unit has been closed, with patients redirected to nearby facilities.
   
6. The Asian Development Bank plans to offer Sri Lanka up to $500 million in assistance for 2024, contingent on policy reform progress: This includes a $100 million power sector loan pending approval of an electricity reform bill, another $100 million for Small and Medium Enterprises pending establishment of a credit guarantee agency, and a $200 million credit line for the financial sector: Additionally, $100 million is under consideration for the water sector.
   
7. Several SriLankan Airlines flights at Bandaranaike International Airport faced delays due to ground staff temporarily ceasing duties around 4:30 AM: Operations resumed after about two and a half hours following discussions: The protest stemmed from airport workers’ concerns about perceived inefficiencies within the flag carrier.
   
8. Labour and Foreign Employment Minister Manusha Nanayakkara has committed to establishing a SLBFE office in Kegalle District following a joint appeal from the Kegalle Migrant Workers Committee and the district’s political authority: The decision addresses concerns about the absence of an SLBFE office in the district, despite it having the highest number of migrant workers in the Sabaragamuwa Province.
   
9. Coast guard personnel from India, Maldives, and Sri Lanka join for a four-day trilateral exercise called ‘DOSTI-16’ in the Indian Ocean Region, aimed at enhancing maritime security and interoperability: The exercise involves ships and helicopters from the participating countries, with activities including joint sea exercises and discussions on mutual cooperation: Bangladesh participates as an observer.
   
10. Sports Minister Harin Fernando, along with Director General of Sports Professor (Rear Admiral) Shemal Fernando Ph.D., and the National Sports Council led by Dr. Maiya Gunasekara, select 58 athletes to join the National High Performance Pool for the Paris Olympic Games and Paralympics 2024: The pool includes 33 athletes from 11 Olympic sports and 25 para-athletes across eight Paralympic sports.

February 25, Colombo (LNW): Several SriLankan Airlines flights experienced delays at Bandaranaike International Airport (BIA) this (25) morning due to a temporary cessation of duties by ground staff, local correspondents said.

The ground staff reportedly ceased their duties at 4:30 AM, leading to delays in at least four SriLankan flights.

However, operations resumed after approximately two and a half hours following discussions prompted by authorities.

The protest was reportedly initiated by airport workers seeking prompt resolutions to perceived inefficiencies within SriLankan Airlines.