February 29, Colombo (LNW): In a recent development, the Ceylon Electricity Board (CEB) has presented a revised proposal to the Public Utilities Commission of Sri Lanka (PUCSL), suggesting that electricity tariffs could potentially be reduced by an average of 14 per cent.

This contrasts with earlier assertions made by the Energy Minister regarding an 18 per cent reduction.

According to the CEB, this reduction in tariffs has been strategically facilitated by measures taken to exercise control over the Central Bank, resulting in substantial financial benefits.

By enhancing the affordability of project loans, the CEB aims to alleviate the burden of financing, thus enabling a reduction in tariffs.

The revised tariff proposal outlined by the CEB aims to provide relief across all customer categories. Notably, adjustments have been made in various operational expenses, including personnel expenses, material costs, maintenance of civil structures, fuel and vehicle maintenance, communication services, retail service costs, and other overheads.

Furthermore, the prevailing economic conditions in the country have influenced workforce availability, particularly in labour-intensive distribution divisions, leading to reductions in certain personnel and material costs.

As the nation approaches the dry season, there is a surge in electricity demand. Scheduled maintenance of hydroelectric machinery during this period is crucial to ensure optimal performance during the subsequent wet season.

Postponing maintenance activities presents challenges in meeting increased demand without resorting to costly plant operations or risking demand management procedures.

Delays in several maintenance and upgrade projects within the Generation Division have necessitated adjustments in disbursements for the year 2024.

Notable projects, such as those at the Victoria Power Plant, Kotmale, Ukuwela, Upper Kotmale, and Bowatanna plants, are either nearing completion or undergoing critical refurbishments aimed at enhancing efficiency and reliability.

At the time of this report, discussions were underway at the PUCSL regarding the decision to announce the proposed electricity tariff revision.

February 29, Colombo (LNW): Finance State Minister Shehan Semasinghe announced the completion of the verification and certification process for applicants in the second phase of the “Aswasuma” programme.

As a result, arrangements have been made to extend benefits to 2.4 million family units, with implementation set to commence in June 2024.

During a press briefing held at the Presidential Media Centre under the theme ‘Collective Path to a Stable Country’, State Minister Semasinghe emphasised the imminent closure of the second phase of applications, scheduled to end on March 15, 2024.

Stressing the importance of timely submission, he cautioned that failure to adhere to the deadline would result in individuals forfeiting eligibility for programme benefits.

Moreover, the Minister highlighted that approximately 7,000 individuals who had received benefits based on false information were removed from the programme following appeals and objections.

Providing further insights, the State Minister disclosed that initially, 3.4 million family units were certified during the programme’s first phase, out of which 1.9 million families have been deemed eligible for benefits.

Following the adjudication of appeals and objections, the Welfare Benefit Board is set to initiate payments to selected beneficiaries starting July 2024.

With regards to the application process, Semasinghe reported that approximately 1,197,000 appeals and objections out of a total of 1,227,000 have been resolved.

Additionally, efforts to raise awareness online have resulted in the submission of around 200,000 to 250,000 applications. Application forms submitted directly to Divisional Secretariats are currently undergoing processing via the online system.

It is emphasised that the call for applications in the second phase will cease after March 15, 2024, with failure to submit rendering individuals ineligible for relief benefits.

Furthermore, following the completion of verification and certification for new applicants, all necessary preparations have been concluded to extend insurance benefits to 2.4 million family units from June 2024 onwards, with an anticipated allocation of Rs. 205 billion for compensation payments in 2024.

Minister Semasinghe reiterated that the allocation of these provisions has already been arranged.

Regarding individuals found to have received benefits through fraudulent means, Semasinghe emphasised the readiness to pursue fund recovery and legal action in accordance with the law upon identification of such cases.

In his address at the Pathfinder Indian Ocean Security Conference phase III held at Cinnamon Grand Colombo yesterday (28), President Ranil Wickremesinghe emphasized Sri Lanka’s dedication to maintaining a strategic position aimed at ensuring the absence of major power rivalries and upholding freedom of navigation in the Indian Ocean. The President highlighted that Sri Lanka’s commitment to freedom of navigation has prompted the country to engage in operations as guardians of prosperity in the Red Sea. He underscored the significance of the Suez Canal, particularly evident during the Six-Day War when its closure for ten years negatively impacted the Colombo port, emphasizing the necessity of ensuring unrestricted navigation.

President Ranil Wickremesinghe also highlighted emerging issues, including security concerns in the undersea domain, prompting a reassessment of approaches. He expressed the belief that the future lies in the Indian Ocean, stressing the importance of understanding Sri Lanka’s role within the broader Indo-Pacific framework. The President noted that the dynamics of the Indo-Pacific, originating from post-World War II arrangements such as the San Francisco system and the Shanghai communiqué, have evolved, leading to questions about the country’s positioning and potential involvement in regional conflicts.

The two-day conference will see participation from delegates representing several nations, underscoring the significance of the Indian Ocean and its role in global security and supply chain resilience.

The President further highlighted the imperative to reconcile varying viewpoints on the Indo-Pacific, particularly regarding its geographical limits and implications for maritime security. Sri Lanka adamantly opposes the idea of confining the Indo-Pacific to India’s western boundary, stressing its wider territorial concerns that stretch to the African coast. This stance diverges sharply from China’s expansive outlook, prompting scrutiny into the underlying motives and potential repercussions of these contrasting approaches.

The President emphasized the importance of addressing emerging developments in the Indian Ocean amid complex geopolitical dynamics. This includes China’s growing presence, which is bolstered by infrastructure projects like the Friendship Highway in Pakistan and agreements with India concerning connectivity and harbour development. Furthermore, the evolution of economic corridors such as the Mumbai-UAE-Israel-Europe connection highlights the changing geopolitical landscape, emphasizing the need for long-term strategic planning.

In his address, President Ranil Wickremesinghe highlighted the interconnectedness of regional dynamics and the potential implications for maritime security and diplomacy, as evidenced by the recent conflict in Gaza. Stressing the arc of Islam stretching from the Middle East to Indonesia, he underscored the need for nuanced approaches to crisis management, considering geopolitical complexities and cultural sensitivities.

Emphasizing the importance of embracing the Indian Ocean’s identity and historical significance, President Wickremesinghe advocated for cooperation among major powers rather than competition. He outlined Sri Lanka’s vision for the region as a hub for economic growth extending beyond India to Africa.

Regarding the resurgence of Asia’s influence, particularly China’s pivot to the Indian Ocean and the Belt and Road Initiative’s impact, the President highlighted the necessity of re-evaluating traditional power structures and alliances. He also addressed Russia’s eastward shift and the evolving dynamics between Iran and Saudi Arabia, which further complicate the geopolitical landscape, calling for nuanced diplomacy and strategic foresight.

In conclusion, President Wickremesinghe reiterated Sri Lanka’s commitment to promoting stability and cooperation in the Indian Ocean region. He stressed the importance of maintaining an inclusive approach that respects the historical significance of the Indian Ocean and considers the perspectives of its diverse stakeholders for long-term peace and prosperity.

US Ambassador Julie Chung, Japan’s Deputy Assistant Minister for Southwest Asian Affairs Hayashi Makoto, Founder of Pathfinder Mr. Milinda Moragoda, Co-Chairmen of the Pathfinder Indian Ocean Security Conference, Mr. Bernard Gunathilake & Mr. Shivshankar Menon, along with High Commissioners, Ambassadors, officials from Ministries, line institutions of the Ministries and the tri-forces participated in this event.

By: Isuru Parakrama

February 29, Colombo (LNW): A few showers will occur in Eastern and Uva provinces and in Polonnaruwa and Matale districts, the Department of Meteorology said in its daily weather forecast today (29).

Showers or thundershowers may occur at a few places in Western and Sabaragamuwa provinces and in Galle, Matara and Nuwara-Eliya 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, Uva and Eastern provinces and in Hambantota district.

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

By: Staff Writer

February 28, Colombo (LNW): The Houthi Terrorists in Yemen is now believed to have been damaged at least four under-sea communication cables in the Southern Red sea  disrupting communication between areas oF Europe and Asian countries including India and Sri Lanka.

Four underwater communications cables between Saudi Arabia and Djibouti have been struck out of commission in recent months, presumably as a result of attacks by Yemen’s Iranian-backed Houthi rebels, according to an exclusive report in the Israeli news site Globes.

The successful targeting of the four cables, which are believed to belong to the AAE-1, Seacom, EIG, and TGN systems, marks a serious disruption of communications between Europe and Asia.

Most of the immediate harm will be absorbed by the Gulf States and India, Globes said.

The AAE-1 cable connects East Asia to Europe via Egypt, connecting China to the West through countries such as Pakistan and Qatar.

The Europe India Gateway (EIG) cable system connects southern Europe to Egypt, Saudi Arabia, Djibouti, the UAE, and India. The Seacom cable connects Europe, Africa, and India, and is connected to South Africa.

Yemen’s Iranian-backed Houthi movement, which is not the internationally recognized government of the Arab country but which controls its most populous segments, has been attacking international trade for months, proclaiming solidarity with Palestinians as Israel wages war against Hamas in the Gaza Strip.

The United States, United Kingdom, and allies have begun in recent months to take offensive actions against the Houthis in response to attacks, but the missile, helicopter, and underwater drone assaults on merchant ships have continued.

While the world has a decent supply of cable repair ships, they are booked up well in advance so finding one ready to work is not always possible. Nor are cable repairs easy: it takes time to find and retrieve a damaged segment and reconnect it.

These repairs could be complicated by regional tensions. The Houthis have attacked civilian ships and military assets in the Red Sea since the recent invasion of Gaza by the Israel Defense Forces after terrorist attacks by Hamas.

Some shipping companies have therefore decided the risks of attacks on their assets are too high and are currently avoiding the Red Sea, a decision that extends shipping times. Peripheral vendor Logitech recently warned its supply chain would experience delays as a result of the Red Sea conflict.

Members of a mailing list covering internet outages also said they had seen problems with cables that run through the Red Sea but reports on the list also dispute the timing of the incident, pointing out that one of the cables mentioned in coverage of the outages, EIG, has been “down for a few weeks.”

By: Staff Writer

February 28, Colombo (LNW): In a bid to address congestion and enhance capacity at Bandaranaike International Airport (BIA),  Ports, Shipping and Aviation Minister Nimal Siripala de Silva announced plans for the construction of a temporary terminal at a cost of Rs. 6 billion.

Speaking to journalists yesterday, he said that the temporary terminal will cater to an additional 1.5 million passengers till the completion of the second terminal.

“I’ve allocated Rs. 6 billion to put up a temporary terminal and the tender process is underway. It is expected to be completed within 10 months,” he said, adding that there is ongoing repair work to maintain the status quo of the airport.

The Minister said by the end of the year, the additional space provided by the temporary terminal will alleviate congestion at BIA.

At present, the airport handles around 9 million passengers annually, exceeding its capacity of around 6 million.

The Minister also outlined that Japan has assured its commitment to building the second terminal, but explained that the delay in funding is due to ongoing debt restructuring processes.

“Japan has assured the Government of enhanced loans for the construction of the second terminal, which is expected to take at least two years to complete,” de Silva added.

SriLankan Airlines Chairman Ashok Pathirage said the development of the second airport terminal is a national priority.

He stressed the need for national priority to  second terminal construction at the BIA.

“Despite additional repairs and efforts to accommodate more passengers, the airport is fully packed during peak hours. Therefore, development of the second terminal should be the Government’s priority,” he asserted.

Pathirage noted that the need to expand passenger handling capacity to accommodate the predicted growth in tourism and airline operations. “Given the projections for tourism and increasing airline traffic, we must expand the capacity to at least 20 million passengers,” he added.

February 28, Colombo (LNW): On February 28, the Sri Lankan Rupee has exhibited a slight appreciation against the US Dollar in commercial banks compared to the previous day. According to Peoples Bank, the buying rate dropped from Rs. 305.23 to Rs. 304.25, and the selling rate decreased from Rs. 315.87 to Rs. 314.86.

Commercial Bank reported a reduction in the buying rate from Rs. 304.77 to Rs. 304.27, while the selling rate decreased from Rs. 314.75 to Rs. 314.25.

Similarly, at Sampath Bank, the buying rate of the US Dollar has dropped from Rs. 306.50 to Rs. 305.50, and the selling rate reduced from Rs. 315.50 to Rs. 314.50.