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03 Sri Lankans found dead with hands and feet tied, heads covered in plastic in Malaysia

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Colombo (LNW): Three Sri Lankan men were found dead with their hands and feet tied and their heads covered in plastic in a house on Jalan Perhentian Kampung Kovil Hilir, Sentul, Malaysia two days ago (22), Kuala Lumpur based New Straits Times reported.

Screams believed to be from a fight led to the discovery of the bodies that were found stacked in the house’s store, with one of them naked.

Kuala Lumpur police chief Datuk Allaudeen Abdul Majid said the police received a call from the public informing that there had been a fight at a residence on a four-storey shophouse lot at around 11pm last night.

“Following that, the police mobile patrol vehicle (MPV) team arrived at the house which is located on the second floor and carried out an inspection before finding the bodies of the three men.

“Inspection at the house found a Sri Lankan couple in their 40s who were renting the house and they were detained to assist with the investigation.

“One of the three victims involved is the son of a married couple in their 20s,” he said at a press conference at the Sentul Police Headquarters.

Allaudeen said initial investigation found that during the fight, two foreign men were also in the house but managed to escape from the location.

“It is understood that the house has five rooms that housed the couple involved, their children and two tenants who were also killed in the incident.

“Investigations found that two Sri Lankan suspects who live in Klang, Selangor, came to the house to visit the couple they had known for the past six months.

“They are said to have been living in the house for the past two days. Based on this information, we believe this was a planned crime,” he said.

He said examination of the three bodies found that there were marks on one of the victims’ bodies.

“There were no visible signs of injury on the other two bodies involved and we have seized a knife believed to be a murder weapon.

“The bodies of the three victims were sent to Hospital Kuala Lumpur National Institute of Forensic Medicine for post-mortem today (23).

“The married couple, who are unemployed were remanded for seven days from today until Sept 29 for further investigation according to Section 302 of the Penal Code,” he said.

Allaudeen added that the police were still in the early stages of unravelling the motive behind the incident.

“Further investigation is underway and we are tracking the two men involved who are also the main suspects.

“People who have information about the whereabouts of the two suspects can contact the Kuala Lumpur Police Operations Room at 03-21460584/0585 or any nearby police station to assist with the investigation,” he said.

Source: New Straits Times

Today’s (Sep 24) weather: Several provinces to meet showers, thundershowers

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By: Isuru Parakrama

Colombo (LNW): Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Galle and Matara districts, and showers or thundershowers will occur at several places in Central, Uva, Eastern and North-Central provinces during the evening or night, the Department of Meteorology said in its daily weather forecast today (24).

General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from Puttalam to Hambantota via Colombo, Galle and Matara.
Winds:
Winds will be south-westerly and speed will be (30-40) kmph. Wind speed can increase up to 50 kmph at times in the sea areas off the coast extending from Puttalam to Kankasanthurai via Mannar and from Hambantota to Pottuvil.
State of Sea:
The sea areas off the coast extending from Puttalam to Kankasanthurai via Mannar and from Hambantota to Pottuvil will be rough at times. The sea areas off the coast extending from Puttalam to Hambantota via Colombo, Galle and Matara will be fairly rough at times. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

US and Sri Lanka discuss economic assistance, human rights.

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By: Staff Writer

Colombo (LNW): The United States and Sri Lanka had discussions focusing on economic assistance and human rights.

The discussion took place between US Under Secretary Victoria Nuland and Foreign Minister Ali Sabry in New York.

“Our work together continues at #UNGA. I met with @MFA_SriLanka Minister Ali Sabry to discuss U.S. economic assistance, human rights, and our shared vision for a free and open Indo-Pacific,” Victoria Nuland tweeted.

Sabry said that they had a cordial discussion Victoria Nuland and focused on a number of areas where Sri Lanka and the US could work together to further strengthen bilateral relations.

The US, a significant ally of previous administrations under President Ranil Wickremesinghe when he was the premier of this country , played a silent yet crucial role in facilitating a smooth power transition in Sri Lanka during the period of public unrest.

While urging the Sri Lankan administration to prioritize human rights and democracy, the US focused on supporting economic recovery by providing substantial economic and humanitarian aid amounting to nearly US$ 240 million within a short period.

Additionally, the US backed Sri Lanka’s appeal to obtain an IMF bailout package, demonstrating its ability to support countries like Sri Lanka and fill the power vacuum resulting from China’s strategic drift away from the country, economic experts said.

It can be argued that in exchange for the US’s financial support, Wickremesinghe’s regime agreed to create a favorable strategic environment for the US in the future.

Overall, the Wickremesinghe regime swiftly demonstrated its willingness to offer strategic benefits to all Indo-Pacific powers by promoting Sri Lanka’s hedging foreign policy.

In other words, any power capable of providing relief to overcome economic difficulties could gain uninterrupted access to strategic resources, ports, land, and other resources, thereby influencing or balancing the power dynamics among Indo-Pacific actors, several foreign affairs analysts claimed.

For example, China could create strategic concerns for India and the United States by utilizing its strategic resources in Sri Lanka, particularly those from the Port of Hambantota or Colombo Port City.

Similarly, India or the United States, or both, could pursue similar strategies against China by leveraging their access to Sri Lanka’s western and eastern ports, namely the Colombo West Terminal and the Port of Trincomalee they added.

Sri Lanka national audit office exposes Sri Lanka cricket corruption.

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By: Staff Writer

Colombo (LNW): Corruption has plagued Sri Lanka’s cricket administration since the country’s 1996 World Cup win, which turned out to be a “curse” in disguise, then-captain Arjuna Ranatunga’s younger brother Urban Development Minister Prasanna Ranatunga told parliament recently.

He said “massive financial fraud” continued to vex the island nation’s cricket board and called for reforms.”The World Cup victory was the biggest curse for our cricket,” Ranatunga added.

The National Audit Office’s final report into Sri Lanka Cricket (SLC) and its expenses related to the travel of players and officials to last year’s T20 World Cup in Australia, has reignited the debate on if SLC should come under government oversight.

The final report comes weeks after SLC responded to observations in the draft audit report, which was leaked and made waves on mainstream and social media that, among other findings, highlighted a massive expenditure of Rs. 68 million by SLC to send 14 of its officials to Australia for the T20 World Cup.

SLC has long argued that it is essentially a private entity with the money it receives belonging to its membership, and therefore it did not have to be accountable to the public, and by extension the government, for how it chose to spend its finances.

However, the National Audit Office has expressed a differing opinion, stating that, as SLC had fielded a team that represented the country, it could not deviate from the requirement of its activities being monitored by the government.

“As the institution engaged in prioritizing the use of the official brand and representation of the national team, paying attention to establish a legal environment where the essential requirement of performance of activities subject to Government monitoring cannot be deviated from,” the report, signed by the Auditor General WPC Wickramaratne recommended.

The auditor general also recommended that amendments should be made to the Sports Act “in order for the relevant annual reports to be presented to parliament thereby strengthening the control of Parliament over all of the national sports associations and authorizing such associations to be summoned to the Committees.”

The audit office also stressed that sports associations should avoid being involved in the obtaining of visas for parties that cannot be considered as persons proceeding abroad officially – ostensibly a recommendation stemming from the revelation that SLC had issued 37 letters to individuals not directly involved with SLC for their visa application process.

Sports Minister Roshan Ranasinghe has shown a keenness to bring systematic changes to SLC, by way of introducing a new constitution.

SLC have conceded that constitutional reforms were necessary, but the Minister’s move to appoint a 10-member committee to draft a proposed new constitution was “illegal” and “interfered with the Constitution and due functioning of Sri Lanka Cricket.”

Last week, through the Court of Appeal SLC obtained an interim order that prevented the Minister from going ahead with the proposed new constitution.

Sri Lanka tea prices dip 18 % from record high on production rebound

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By: Staff Writer

Colombo (LNW): Sri Lanka has exported around 158 million kilos of tea so far this year. compared to 251 million kilos of tea in 2022 due to the lagged effect of a fertilizer ban imposed by the previous regime under the ousted President Gotabaya Rajapaksa, industry sources claimed.

Sri Lanka’s tea exports in August saw both incremental growth and some declines compared to the previous years. The export volumes increased marginally, whilst value dipped tea traders added.

Forbes & Walker Research said tea exports in August 2023 reached a total of 23.33 million kilograms, marking a steady increase of 0.33 million kilograms compared to August 2022.

Interestingly, instant tea and green tea stood as exceptions, demonstrating growth, while all other categories experienced declines in comparison to the corresponding month in 2022.

The Free on Board (FOB) value for August 2023 was recorded at Rs. 1,648.85, reflecting a noteworthy decrease of Rs. 302.97 compared to August 2022’s Rs. 1,951.82. This decrease is apparent across all main categories when denominated in US dollars, a trend that is highlighted in the accompanying table.

The cumulative exports for the period spanning January to August 2023 totalled 158.32 million kilograms.

This figure represents a decline of 12.74 million kilograms in contrast to the 171.06 million kilograms recorded in the same period of 2022.

The categories of tea in bulk and packeted tea continued to exhibit negative variances, while the remaining product categories experienced marginal increases.

During the first eight months, the FOB value stood at Rs. 1,801.24, showcasing an encouraging increase of Rs. 330.70 when compared to the Rs. 1,470.54 recorded in the corresponding period of 2022.

Iraq secured the top position in August 2023, importing a total of 14.73 million kilograms of tea.

Türkiye followed closely in second place with 13.33 million kilograms. Russia claimed the third position, displaying an impressive growth rate of over 14% compared to the previous year.

The U.A.E (7.49 million kilograms) and China (5.77 million kilograms) secured the fourth and fifth spots, respectively. Noteworthy importers also included Azerbaijan, Libya, Saudi Arabia, Syria, and Germany.

Meanwhile the Embassy of Sri Lanka in Iran, in collaboration with the Sri Lanka Tea Board, organised a Ceylon Tea promotion program at the 10th International Exhibition of Drinks, Tea, Coffee and Related Industries. (DRINKTECH-2023) at the Tehran International Fairground held from 7 to 10 September 2023.

During the four-day event, the Sri Lankan Embassy displayed Ceylon tea export products with information on the varieties and quality of Ceylon tea at the Ceylon Tea pavilion, attracting a large number of visitors.

Over 250 exhibitors, with around 15,000 trade representatives were present which attracted over 100,000 visitors.

Financial Soundness Indicators of banks and finance companies

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By: Staff Writer

Colombo (LNW): The Central Bank has released ‘Financial Soundness Indicators’ as a key tool for communicating the performance of banks and finance companies supervised by the Central Bank.

The publication includes key ratios and financials used in policy analyses for identifying strengths and vulnerabilities in the financial system.

The publication presents sectoral financial information such as assets, liabilities, earnings, profits and capital whilst providing key ratios associated with each category. This publication will be a useful and reliable source of reference for those who are interested in the performance of major financial institutions in Sri Lanka.

The Financial Soundness Indicators publication is available in electronic form and can be accessed through the Central Bank website:

Maintaining a sound and adequately capitalized banking system as well as addressing banking sector vulnerabilities are crucial elements to safeguard financial stability, International Monetary Fund report revealed.

Bank vulnerabilities built up during the pandemic as forbearance measures on loan repayment and provisioning were introduced.

External financing of the public sector had dried up earlier, strengthening the domestic sovereign-bank nexus, with public sector exposures accounting for more than 40 percent of bank assets.

Although backward-looking reported capital ratios have remained stable, and high net interest margins have so far allowed banks to absorb rising impairments (Figure 5), the current crisis will continue to crystallize these vulnerabilities.

Banks are likely to face ongoing credit losses from sharply rising NPLs, while the restructuring or repayment in rupees of FX-denominated government securities (around 5 percent of bank assets) is expected to result in losses, worsen severe FX liquidity shortages, and create currency mismatches.

The large state-owned banks have, in addition, substantial FX loans to the government and SOEs, which are expected to be restructured or repaid in Rupees.

At the same time, the cost of rupee funding remains well above CBSL policy rates (average rates on new deposits reached 23 percent in 2022

No approval is sought or recommended for the exchange restriction arising from Sri Lanka’s net debtor position under the Asian Clearing Union payment arrangement, as such arrangements are considered inherently discriminatory.

Certain Political Factions and Labour Unions Striving to Attain Their Political Objectives

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  • Refrain from Involving this Developing Nation in Racial Conflicts- Director General of Trade Unions to President Saman Ratnapriya.

Mr. Saman Ratnapriya, the Director General of Trade Union Relations to the President, stated during a press conference held in Colombo today (22) by the Union of Civil Organizations and Trade Unions, that certain political factions are actively promoting racial conflicts in the country to further their own political agendas.

He emphasized that the nation has already endured significant political and economic challenges over the past three decades, including the prolonged war and the Easter attack. As Sri Lanka is in the process of rebuilding after emerging from this dark period, there is no need for the re-emergence of racial conflicts.

Addressing the media briefing, Mr. Ratnapriya further said;

Today, several political factions and trade unions are actively involved in various initiatives aimed at advancing their political agendas on various national issues.

One of these initiatives pertains to the Channel 4 incident, currently under discussion in Parliament. Different political groups hold varying perspectives on this matter, with allegations that the government is reluctant to conduct a thorough investigation into the incident. This is not acceptable.

President Ranil Wickremesinghe has taken steps to address the Channel 4 incident by appointing a committee consisting of a retired judge. This committee is responsible for making decisions regarding the matter. Additionally, the ruling party has called for the formation of a selection committee for this purpose.

While everyone has the right to express their opinions freely, it is crucial that information concerning this issue is shared with a sense of responsibility and common sense. It’s important to note that there has been no outright rejection of an investigation into the incident. The Ministry of Defence has also refuted these allegations. In this context, certain opposition groups are disseminating false information as part of their propaganda efforts.

The Easter attack had a devastating impact on the country and it is imperative for the nation to determine those responsible and prevent such incidents from recurring. Previous interventions, including international investigations and presidential commissions, have been initiated in connection with the Easter incident. Seeking international support for this cause is not inherently problematic.
Furthermore, there are groups attempting to incite racial tensions in the country to further their political objectives, with events such as Kurundi Viharaya and Thilipan celebrations being cited as examples. Both domestic and international communities suspect these groups of deliberately stoking conflict among the populace. Therefore, we urge all parties to refrain from dragging the country into turmoil for the sake of their political aspirations.

The Easter attack inflicted significant political and economic damage on our nation. Additionally, the scars of a three-decade-long war still linger in our collective memory. It is crucial that we do not forget these dark chapters in our history. I earnestly urge all groups to conduct themselves in a manner befitting our country’s welfare.

Today, as our country strives to recover from a severe economic crisis, various trade union campaigns are underway in the health department. Despite the economic challenges, the President has directed the Treasury to provide relief to public servants, including the possibility of salary or allowance increases.

Protests are not uncommon in our country and if the government does decide to raise wages or allowances, they should effectively communicate that it’s in response to the concerns voiced by the working people.

In these trying times when our country is grappling with financial difficulties, it is imperative that we collectively work towards the nation’s reconstruction, rather than dragging our feet on implementing necessary programs.

During the implementation of the loan optimization program, certain trade unions have propagated false narratives, suggesting that the Employees’ Provident Fund (EPF) would be endangered. Such misinformation is counterproductive and it’s essential for trade unions to refrain from creating unwarranted panic.

Only a small fraction of our population, 2500 out of 22 million, participated in the recent protests, indicating a broader acceptance of the President’s agenda by the people. I implore all trade unions, including the opposition, to understand the current state of our nation and act with responsibility.

Former Governor Mr. Rajith Keerthi Tennakoon;

Professionals, including some within trade unions, have been disseminating misleading information. There have been claims of a brain drain occurring in the country, including reports that 842 doctors have left the country in the past.

It is important to clarify that these 842 doctors left the country within the framework of labour laws, which include provisions for doctors on leave. Presenting this information in a distorted manner serves to conceal the genuine challenges within the healthcare sector.

Rather than addressing existing concerns, there has been a focus on raising unfounded issues. It should be noted that the government has established specific procedures that allow government employees, including doctors, to work abroad. This can be regarded as a privilege extended to all government employees.

It is incorrect to assert that professionals going abroad for leave equates to them permanently leaving the country. There has been a history of false propaganda on this matter. Claims suggesting that 6000 doctors have left the country lack an accurate understanding of the total number of doctors within our nation.

With over 7500 doctors working in hospitals across the country, it is also misleading to suggest that doctors who pursue international training never return. The government is actively addressing this issue and monitoring the situation closely.

Pulasthi Wanniarachchi Chairman of the United Social Organization:

A Bill addressing Online System Security has been officially published. Simultaneously, during the President’s visit to the United States, he held discussions with Facebook’s President of Global Relations, focusing on future technical collaborations.

The sudden introduction of this bill has sparked public discourse and it’s important to recognize its positive aspects. The Computer Response Emergency Forum records approximately 14,000 complaints annually related to social media and internet misuse, with the police receiving around 9,000 complaints. Social networking platforms have introduced certain social standards, but there remains a question regarding the extent of public awareness in our country.

In the process of advancing digitization, it is essential to seek the insights of experts in the field when enacting such legislation. This bill, particularly targeting hate speech and fake news, is expected to contribute to their reduction.

Furthermore, it is crucial to initiate a dialogue on the adverse effects of social networks and technology on our nation.

The meeting was attended by Thusitha Perera, the co-convener of Civil Organizations and Trade Union, Kaushalee Samaratunga, Legal Adviser of the Lakvanitha Organization and Suppaiya Anandakumara, a member of Civil Organizations and Trade Unions.

Sri Lanka Ratifies Comprehensive Nuclear Test Ban Treaty (CTBT) and Expresses Commitment to Nuclear Non-Proliferation

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In a recent press briefing on the EU with the Article 14 Conference of the Comprehensive Nuclear Ban Test Treaty, Sri Lanka reaffirmed its unwavering commitment to nuclear disarmament and non-proliferation by announcing its ratification of the Comprehensive Nuclear Test Ban Treaty (CTBT). The press conference was convened as part of the EU Article 14 Conference on the CTBT, and Sri Lanka’s ratification was officially made in July of the current year.

Minister of Foreign Affairs Mr. Ali Sabry who participated in this Press Briefing revealed that Sri Lanka’s ratification of the CTBT aligns with the country’s long-standing and consistent policy on nuclear disarmament and non-proliferation. Notably, Sri Lanka was among the first signatories of the CTBT in October 1996, mere days after the treaty was opened for signature. The nation was also the 13th to sign a facility agreement with the Comprehensive Nuclear Test Ban Treaty Organization (CTBTO) in 1996, leading to the establishment of an auxiliary seismic station in Pallekale, Kandy.

During the briefing, Sri Lanka commended the relentless efforts of Mr. Floyd, the Executive Director of the CTBTO, and the entire CTBTO team in promoting the entry into force of the treaty. The treaty has witnessed a steady increase in the number of state parties, showcasing global dedication to nuclear disarmament.

Furthermore, Sri Lanka has actively supported the work of the CTBTO since the treaty’s adoption in 1996, including close collaboration with the On-Site Inspection (OSI) division. Sri Lanka is proud to announce that it will host the next OSI Integrated Field Exercise in 2025, bringing together 180 technical experts and participants from across the globe. This exercise will serve as a crucial opportunity to enhance the CTBTO’s OSI capabilities and identify areas for further improvement.

Sri Lanka acknowledged the treaty’s 26th anniversary this year and highlighted its importance as a cornerstone of the global nuclear disarmament and non-proliferation regime. The CTBT represents a significant collective confidence-building measure against nuclear testing, effectively deterring the nuclear arms race during the Cold War era. Additionally, the treaty’s verification regime has established a robust international monitoring system and an international data centre, with applications extending beyond nuclear disarmament to civilian and scientific purposes.

In the face of rising geopolitical tensions and recent challenges at the Non-Proliferation Treaty (NPT) review conference, Sri Lanka emphasized the CTBT’s critical role in maintaining global security. Sri Lanka called upon all states, particularly those whose ratification is essential for the treaty’s entry into force, to take concrete steps toward ratification.

Sri Lanka’s commitment to nuclear non-proliferation and disarmament remains steadfast, and the nation pledged its unwavering support to achieving these critical objectives. The recent deposit of Sri Lanka’s instrument of accession to the Treaty on the Prohibition of Nuclear Weapons (TNPNW) further underlines its dedication to a nuclear-free world.

In conclusion, Sri Lanka’s ratification of the CTBT reflects its enduring commitment to global peace and security through nuclear non-proliferation and disarmament.

President Ranil Wickremesinghe’s Address at the UNGA

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President Ranil Wickremesinghe addressed the UN General Assembly in New York September (21) which reflected on the theme of “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges.

He mentioned how Sri Lanka faced significant social, economic and political challenges in the past year, including threats to democratic traditions but managed to achieve a democratic transition.

He highlighted efforts to stabilize the economy, including economic reforms and foreign assistance. The President’s intention is to lead Sri Lanka towards sustainable recovery and growth, benefiting all segments of society and ensuring peace, prosperity and reconciliation.

The President also discusses the global geopolitical landscape, emphasizing the interconnectedness of various challenges, such as climate change, debt and sustainable development. He stresses the need for international solidarity and climate finance, particularly for smaller, climate-vulnerable and debt-ridden countries.

President Wickremesinghe mentions Sri Lanka’s commitment to climate action, including renewable energy goals, forest conservation and emissions reduction while expressing concern about the impact of climate change on food security, clean energy and livelihoods, emphasizing the urgency of mobilizing climate finance.

The President called on developed countries to fulfill their commitments, provide assistance and assume their share of responsibility, while underscoring the importance of restructuring the international financial system to address climate change and sustainable development.

Additionally, the President emphasizes the need for reform in multilateral institutions like the UN, particularly the expansion of the Security Council’s composition. He emphasizes the importance of disarmament and the impact of global military expenditures.

The President also expresses concern about big power tensions and their impact on international cooperation, including trade and ocean governance. They stress the preservation of a rules-based multilateral trading system through the WTO.

Overall, the President’s speech highlights the challenges facing both Sri Lanka and the world, emphasizing the importance of solidarity, climate action, disarmament and multilateral cooperation in addressing these issues.

Following is the full speech delivered by President Ranil Wickremesinghe at the 78th session of the United Nations General Assembly;

“Rebuilding trust and reigniting solidarity“ is an appropriate point of departure not only for reflecting on the challenges before the multilateral today, but also for reviewing developments in my own country, Sri Lanka, over the past year.

At this time last year, amidst multiple global crises, Sri Lanka was experiencing its most challenging period in recent times socially, economically and politically, which had a devastating impact on people’s lives.

Even our Democratic traditions were threatened by attempts to occupy our Parliament and bring it to a halt. Nevertheless, we succeeded in bringing about a democratic political transition, due to our deeply entrenched and resilient democratic traditions.

Resorting to the re-graduation of Sri Lanka’s economy, coupled with the gift of fertilizer from the United States’ Government which led to a bumper harvest, has assisted us in ensuring stability during that period.

The reforms I have since initiated in the economic, financial, institutional and reconciliation fronts have been directed on the one hand towards rebuilding trust and confidence between the people and the government; and on the other, towards laying the foundation for economic stabilization and recovery. Sri Lankans are already witnessing the positive outcomes of these measures in their daily lives and the revival of confidence internally and externally in the progress of the country.

It is my intention to lead the country towards sustainable and stable recovery and growth which will benefit all segments of Sri Lankan society in all parts of the country, ensuring a future of peace, prosperity and reconciliation for the present and future generations of women and men. In reaching this goal, we will be accompanied by the support, trust, and solidarity of our own people and of the international community.

As we turn the corner towards the 80th anniversary of the UN and prepare for the Summit of the Future in 2024, we see the fragmented geopolitical landscape of a multipolar world where new centers of global power have emerged.

Accompanying this systemic change, are, on the one hand, great expectations of development and human progress with millions of people rising out of poverty to prosperity.

On the other hand, we see a world where former big power rivalries and geopolitical tensions have reignited in open war, overlapping with new theatres of conflict and tension on land and in the oceans. Security Alliances have expanded and recent arrangements have been formed to deal with strategic threat perceptions in old and new theatres of conflict. North-South divisions are widening with the digital divide, the financial and debt crisis and the energy transition. Contrary to the promise of 2030, today we are seeing levels of poverty and hunger not witnessed since decades.

Neutral, nonaligned countries of the global South such as Sri Lanka are once again constrained in-between new global power configurations facing those who not respect the sovereignty of our nations.

In numerous recent Declarations in the UN and beyond including at the G20 in Delhi, the BRICS in Praetoria and G7 in Hiroshima, we have agreed that our challenges are interconnected, across borders and all other divides. We must grasp the opportunity to unite in order to build an inclusive future.

It is an appropriate reflection of this current global predicament, that the theme of this year’s general debate is “Rebuilding trust and reigniting global solidarity”.

This year, in parallel with the UNGA, we have participated in three interrelated summits dealing with accelerating the SDGs, Financing for Development and Climate Ambition where we agreed that international solidarity and collective action is needed to address these simultaneously.

Cross-border financial impacts of crises such as climate change and the pandemic are impeding the ability of smaller indebted countries such as mine, to make progress on SDG’s and climate adaptation and mitigation. Conflicts and tensions among big powers are complicating the policy environment for the rest by adding uncertainty to economic and macro-financial stability, disrupting supply chains and causing inflation as well as food and energy insecurity.

Long before the SDGs, Sri Lanka had achieved high human and social development indicators which ranked us in a category well above other middle-income countries. Neither has Sri Lanka shirked its responsibility to the planet. Last year at COP27 we outlined our Climate Ambition Plan. We said that by 2030 we will have 70% renewable energy in electricity generation, increase forest cover by 32% and reduce greenhouse emissions by 14.5%. We will phase out coal by 2040, and reach net zero by 2050.

Our low carbon development trajectory gave us one of the lowest per capita carbon emission rates for a lower MIC country.

This year as a result of exogenous shocks and debt, the incremental progress we were proud to have reached has been reversed. Food inflation reached putting significant pressure on food security amongst vulnerable communities. At the same time children’s education and nutrition have suffered due to the pandemic and the economic crisis.

In parallel, last month in Sri Lanka we were grappling with the driest weather spell seen in recent years followed by torrential rainfalls.

Adverse climate outcomes spilling over onto our tight fiscal space just as we begin to stabilize from last year’s economic crisis. As a climate vulnerable developing country in debt crisis, the urgency to mobilize climate finance is greater today than it was ever before. However, despite promises made to which we were all witness, rich countries are not delivering to expectation.

Developed countries must do their part and fulfill what they agreed – assume their share of the common but differentiated responsibility, provide assistance for mitigation and adaptation and compensation for loss and damage.

National efforts alone will not suffice to ensure the success of the SDGs and reverse climate change. The need for global solidarity to restructure the international financial architecture is paramount. This is articulated loud and clear in multiple global fora including in G20, and the BRICS. The Secretary General’s SDG stimulus highlights the interconnections between the achievements of the SDGs, combatting climate change and the concrete interventions required by creditors sovereign and private, as well as by IFIs including to mitigate the debt crisis.

It is estimate that the 2008 financial crisis has cost the U.S. economy $4 trillion. Recent studies in the U.S. have stated that the impact of the pandemic on the U.S. economy from 2020 to 2024 would reach $14 trillion. These numbers would more than double if the rest of the global economy is added. We have not faced an economic crisis of this magnitude any time before in our modern history. The cost of World War 2 in today’s USD would amount to $4 trillion, and the Marshall Plan would be $ 150 billion.

This is the magnitude of the challenge before us. Therefore if we are unable to restructure the global fiscal order, then certainly we will fail in the struggle to reverse climate change and achieve the SDG goals.

There is still time for course correction as the crisis has not reached its peak. At the same time, the Paris Summit for a New Global Financing Pact will come up with the funding requirements.

Therefore, the Summit of the Future should not be crafting new programs, but re-structuring the present financial architecture to suit the needs of climate change and sustainable development.

This must be the priority of this General Assembly; we cannot afford to allow divisions to drive focus away from this crisis.

While key issues such as the Bridgetown Initiative and the necessity to address the debt of low-income countries are being discussed in this assembly, it is not commanding the attention it deserves. Unfortunately, the Security Council has failed to give priority to these connected issues of climate change, debt relief and sustainable development. This impacts the future of mankind. The survival of the planet must be our priority, we cannot afford to go into this war with a divided high command. The future of all species on the globe is dependent on our ability to put aside our rivalries until this crisis is solved.

Multilateral machinery which reflects the world of the past century needs to be reformed to meet the challenges of the present and the future, a machinery which has failed to find a solution to the longstanding Palestine question. The composition of the Security Council must be expanded to be representative of current global diversity and decision-making. In parallel, the role of the UNGA must be strengthened.

We are asking that the permanent members engage in a credible dialogue which will lead to a unified approach to combat these threats ahead of the next sessions.

While we seek solidarity and financing to alleviate poverty and climate challenges, global military expenditures have risen today to record levels reaching $2.24 trillion. This reflects the strategic trust deficit among the powerful, key arms control frameworks which were instrumental in maintaining system stability in the past have collapsed and nuclear conflict is once again under open discussion, potentially and apocalyptically triggered by autonomous control. We urge restraint in the increase of military expenditure which leads to escalation of conflict.

Developing countries have been the voice of sanity and reason in this regard for decades. In keeping with Sri Lanka’s longstanding position supportive of disarmament of WMD and nuclear weapons, this year Sri Lanka ratified the Comprehensive Test Ban Treaty. Yesterday, we acceded to the Treaty on the Prohibition of Nuclear Weapons.

The war in Ukraine has far-reaching and severe financial and humanitarian repercussions on food, hunger and debt in all parts of the world including Sri Lanka. It is recalled that the UN Charter vests on powerful states in the Security Council the responsibility to maintain international peace and security and to deescalate rather than ignite conflict.

We need to halt the momentum where this and other big power tensions are spilling over into established areas of international rules-based cooperation forged over decades of multilateral negotiation, ranging from international trade to ocean governance.

This international system is today undergoing vast changes. At the same time, it is being confronted with unprecedented challenges. We come to the United Nations to demonstrate solidarity in arriving at common solutions. What is at stake is not the future of the United Nations, but of our planet as a whole. Member States will need to find new ways of working together despite the increasing mistrust that has permeated international relations.

We who have not been able to find a solution to the Palestinian question must now be able at least to find a solution to the questions which threaten the existence of the present global community.

This can be achieved through the willingness of the permanent members to work together in solidarity with the developing world. They must show the way

President Wickremesinghe also extended his sincere condolences to the victims and families of the natural disasters that hit Morocco and Libya in recent days and pledged solidarity with Moroccan and Libyan friends during this difficult time.

Exploring Optimal Utilization of Mineral Resources to Bolster the Nation’s Economic Growth

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Mr. Arundika Fernando, the State Minister of Urban Development and Housing, emphasized the nation’s commitment to bolstering its economy through the judicious utilization of mineral resources. He underscored the potential for creating high-value -added products from these resources and stressed the importance of carrying out these activities with a steadfast commitment to safeguarding the country’s land. State Minister Arundika Fernando made these remarks during his participation in a press conference held  September (22) at the Presidential Media Centre, under the theme ‘Collective Path towards a Stable Country.’

Expressing his views further Arundika Fernando further said;

We stake our claim to an island graced by one of the world’s most exquisite beaches. Our nation also boasts a wealth of valuable mineral resources. Furthermore, from a geographical standpoint, we occupy a strategically vital position in Asia.

Despite the allure of our beautiful coastline, it is not immune to periodic sea erosion. Consequently, proactive measures, funded by the government, are implemented to mitigate this issue. To address this concern comprehensively, the Department of Coastal Conservation has been significantly broadened in scope. Additionally, this department plays a pivotal role in bolstering the tourism sector.

Challenges have arisen involving certain hotels, investors and the Department of Coastal Conservation. As a responsible government, we have committed to a flexible approach to resolve these issues. Our efforts are directed at facilitating construction projects within the tourism industry for interested investors.
Our overarching goal is to develop and create opportunities along our coastlines while safeguarding the unique cultural heritage of these coastal regions. This approach not only preserves our heritage but also generates revenue for the government.

Sri Lanka has earned recognition for possessing some of the world’s most stunning beaches. In the realm of long-term investments, we have taken the decision to extend investment prospects along our coastline, collaborating closely with agencies such as the Investment Promotion Board and the Ministry of Lands. A dedicated program has been meticulously crafted to invigorate and advance the tourism sector.

Furthermore, given our nation’s rich mineral resources, we have devised plans to expand investment opportunities while remaining committed to land conservation.

Additionally, the Department of Coastal Conservation actively participates in initiatives aimed at enhancing the value of our mineral resources. These resources have the potential to yield significant value through the production of value-added goods.

Furthermore, we are committed to introducing a new environmental and ocean protection bill in our country. This legislation will play a vital role in safeguarding our natural resources.

Our primary focus must centre on pioneering innovative programs that contribute to our country’s economic recovery. Timely and effective resource management is crucial for initiating income-generating initiatives.

Moreover, we aspire to establish a specialized bank dedicated to the advancement of our domestic industries. Recognizing that some financial institutions have constrained their support for the construction industry, we are actively addressing the challenges that have emerged within this sector.