Home Blog Page 1036

Sri Lanka to present ‘Sourced Sri Lanka’ roadshow in UK this year.

0

By: Staff Writer

February 05, Colombo (LNW): The conceptual apparel framework of ‘Sourced Sri Lanka’, a roadshow has been planned in the UK this year bringing together buyers, brands, retailers and importers.

The Sri Lanka Apparel Sourcing Association (SLASA) will present the road show with the collaboration of JAAF, SLASA and the EDB, the roadshow showcasing Sri Lanka’s export capabilities with the objective of increasing visibility, generating leads and sales and building key industry relations.

‘Sri Lanka Apparel: Ambition 2030’, a roadmap is also on the cards that places Sri Lanka apparel as a premier engine of export growth for the country.

The presentation od the road map by Deputy Chairman JAAAF Aroon Hirdaramani underscored the imperative for the apparel sector to enhance its competitiveness aligned with regional counterparts, emphasizing the necessity to showcase Sri Lanka apparel’s innovation and technological capabilities and the significance of leveraging a highly skilled workforce.

Industry veteran Saifudeen Jafferjee was elected Chairman of the Joint Apparel Association Forum (JAAF), which is the apex body that guides Sri Lanka apparel towards its ultimate goal of being the world’s number one apparel sourcing destination. At the 20th Annual General Meeting held recently, the Executive Committee including Deputy Chairmen Felix Fernando and Aroon Hirdaramani were re-elected.

Delivering the inaugural Chairman’s address, Jafferjee highlighted six key policy areas that the industry is seeking government support to propel the apparel sector to meet its ultimate objective of becoming the world’s number one apparel sourcing destination.

“The economic crisis has been a clear and visible indicator that the export driven model is the panacea to add fillip to Sri Lanka’s economic growth agenda.

However, the macroeconomic programme of the IMF has affected the business model of our industry. Therefore, it is important for JAAF to engage with the current leadership on the vital need to return to an export-led business model.” Jafferjee urged the apparel industry to expand its exports, propelling not only the industry but the country’s economy as a whole.

The adherence to cost-reflective electricity prices, as prescribed by the IMF programme, has resulted in a 50% increase in Sri Lanka apparel’s operational costs, compared to competing countries. Jafferjee deemed this path unsustainable and urged the government to instigate change.

Mandatory conversions, initially introduced as a short-term measure, were questioned by Jafferjee, in light of the exchange rate appreciation and excess liquidity in the banking system. He urged the Central Bank to reconsider the policy of compulsory conversions.

The implications of VAT regulations, especially regarding food and transport services for employees, were highlighted by Jafferjee as “burdensome and illogical” calling for a prompt solution by the state. On the SVAT, he stated that empirical evidence suggests refund mechanisms do not work and advocated a more permanent arrangement.

Bridge Collapse Disrupts Traffic on Embilitipitya – Middeniya Main Road

0

February 05, Colombo (LNW): Traffic on the Embilitipitya – Middeniya main road came to a halt as the Hulanda Oya bridge collapsed earlier this morning (05 Feb.). The incident occurred while a logging truck was traversing the bridge, causing its collapse.

Fortunately, no casualties have been reported at this time. Authorities have advised motorists to seek alternative routes until the necessary assessments and repairs are completed on the affected bridge. Efforts are underway to address the situation and restore traffic flow in the area.

Eight Injured in Clash Among Inmates at Kandakadu Rehabilitation Center

0

February 05, Colombo (LNW): A clash erupted between two groups of inmates at the Kandakadu Rehabilitation Center on Sunday night, resulting in eight individuals sustaining injuries. Police reported that the injured were initially admitted to Welikanda Hospital and later transferred to Polonnaruwa Hospital for further treatment.

In response to the incident, law enforcement authorities have taken 14 suspects into custody. The suspects are scheduled to be produced in court on Monday.

The Kandakadu Rehabilitation Center has witnessed clashes among inmates on multiple occasions, highlighting ongoing challenges and tensions within the facility. Authorities continue to address and investigate issues contributing to such incidents within the rehabilitation center.

Sri Lanka Original Narrative Summary: 05/02

0
  1. President Ranil Wickremesinghe, in his message to mark the 76th Independence Day, calls on all Sri Lankans at home & abroad to contribute their utmost to
    rebuild the nation: also says SL had the indignity of being labelled a “financially bankrupt country” when it commemorated the 75th year of independence: CB Governor Nandalal Weerasinghe & Treasury Secretary Mahinda Siriwardene who announced “bankruptcy” on 12th April’22, have since denied the country was “bankrupt”.
  2. Opposition & SJB leader Sajith Premadasa pledges free legal assistance to anyone charged with violating the newly-passed Online Safety Act: calls on people not to fear telling the truth via social media: laments Govt has introduced undemocratic laws violating the people’s freedom of speech.
  3. SJB MP Patali Champika Ranawaka says the Govt is carrying out the real Central Bank robbery under the guise of Local Debt Re-structuring: also says the interest paid on the EPF balances was severely “cut” & therefore the amounts due to the working people was restricted: alleges bankers & tycoons who invested in Treasury bills & bonds that fetched 37% to 40% interest, were not affected by the restructuring.
  4. Finance Ministry grants permission to release USD 527,000 & GBP 100 that SJB MP Field Marshal Sarath Fonseka had received as “campaign donations” when he contested the Presidency in 2010: the cash had been “frozen” in a bank safe since then as there was a case pending: however, it had been found that much of the “cash” currency notes that had been in the bank safe had been devoured by termites, and only forex of about Rs.50mn was salvageable.
  5. Ceylon Electricity Board incurs staggering legal expenses including amounts paid to private lawyers: Rs.77,243,170 in 2023, Rs.53,214,607 in 2022, Rs.21,929,557 in 2021, and Rs.17,370,095 in 2020.
  6. Suspected leader of the notorious criminal gang known as ‘Ava’ group which had committed various crimes including extortion in Jaffna, arrested by Police: the suspect is alleged to have been getting ready to flee the country.
  7. Chief Government Whip, Urban Development & Housing Minister & SLPP Gampaha District leader Prasanna Ranatunge MP says there’s no one more suited to the office of President, than Ranil Wickremesinghe: also says he has no intention of dividing the SLPP nor going against the Rajapaksas: asserts he isn’t a henchman of Wickremesinghe, but the country has no other alternative.
  8. CB Governor Nandalal Weerasinghe says SL will not agree to any debt relief proposal from private bondholders that is not consistent with the debt sustainability targets of the IMF: asserts the whole idea of debt restructuring is to restore debt sustainability: analysts say that as per the IMF Debt Sustainability workings in their March’23 report, a “hair-cut” of around 60% of the bilateral & private external debt is envisaged amounting to a “cut” of USD 16,921 mn out of the total of USD 27,943 mn that is outstanding.
  9. Deputy Solicitor General Lakmini Girihagama appearing for the prosecution in the Human Immunoglobulin case, accuses former Health Minister Keheliya Rambukwelle of amending the procurement process in the procurement of human immunoglobulin: urges Court to reject bail by naming him a suspect under the Public Property Act.
  10. Leader of the Opposition and SJB leader Sajith Premadasa says he will not hesitate to take disciplinary action against those who criticise decisions taken by him & his Party: his remark comes just a few days after SJB Chairman & MP Sarath Fonseka criticised the decision made by Premadasa to appoint former Army Commander General Daya Ratnayake as a Senior Advisor to the SJB.

Cardinal Ranjith Calls for New Leadership in Sri Lanka

0

February 05, Colombo (LNW): His Eminence Malcolm Cardinal Ranjith, the Archbishop of Colombo, has issued a compelling call for a change in leadership in Sri Lanka, drawing a parallel with Singapore’s successful approach after gaining independence.

Cardinal Ranjith emphasized the unity and well-being prioritized by Singapore’s leaders, contrasting it with the divisive strategies based on language and religion employed by Sri Lankan leadership. He applauded Singapore’s robust legal system and commitment to discipline, highlighting perceived shortcomings in law and order in Sri Lanka.

Expressing concern about the government’s alleged self-serving agendas and prioritization of personal gain over national welfare, the Cardinal questioned the legitimacy of celebrating independence amid economic and political turmoil. He suggested that the current leadership celebrates their own freedom, not that of the suffering people.

Cardinal Ranjith urged the nation to liberate itself from what he termed the oppressive ruling class, advocating for the election of leaders who genuinely love and respect the country’s diverse population.

He stated, “I honestly believe that we should drive out these corrupt leaders and bring in new leadership who love the country and respect the religions and culture of our country.

JVP Delegation Embarks on Official Visit to India

0

February 05, Colombo (LNW): A delegation from the Janatha Vimukthi Peramuna (JVP), a Marxist–Leninist communist party known for leading an anti-India campaign in 1987-90 against the Indo-Lanka Accord, is set to embark on an official visit to India starting Monday (05 Feb.).

According to a statement from the party, the JVP delegation, representing the largest party under the National People’s Power (NPP) coalition, will leave Colombo for India on an official invitation from the Indian government.

The JVP delegation includes party leader Anura Kumara Dissanayake, senior legislator Vijitha Herath, Secretary Nihal Abeysinghe, and executive committee member Prof Anil Jayantha.

The Indo-Sri Lanka Peace Accord, signed in Colombo on July 29, 1987, aimed to resolve the Sri Lankan Civil War by implementing the Thirteenth Amendment to the Constitution of Sri Lanka. The JVP played a prominent role in leading an anti-India campaign during this period.

Despite its history, recent surveys indicate that the NPP, led by the JVP, has gained significant public support, particularly in anti-corruption perceptions, in the post-economic crisis phase since 2022. Anura Kumara Dissanayake has already declared his candidacy for the upcoming presidential election later this year.

Several spells of showers expected today

0

February 05, Colombo (LNW): Several spells of showers will occur in Eastern and Uva provinces and in Polonnaruwa and Matale districts.

A few showers may occur in Anuradhapura and Hambantota districts.

Showers or thundershowers will occur atseveral places in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts after 2.00 p.m.

Misty conditions can be expected at some places in Central and Sabaragamuwa provinces and in Galle and Matara districts during the morning.

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

Sri Lanka, Thailand sign historic Free Trade Agreement

0

By: Staff Writer

February 04, Colombo (LNW): In Sri Lanka’s pursuit of transforming into a high-income country by 2048 involving trade negotiations with countries like Thailand, the Sri Lanka Thailand Free Trade Agreement (SLTFTA), was signed, during the visit of Thai Prime Minister Srettha Thavisin and his delegation of business dignitaries yesterday (03) at the Presidential Secretariat in Colombo.

This move aims to enhance market opportunities, with negotiations covering various aspects such as Trade in Goods, Investment, Customs Procedure, and Intellectual Property Rights.

Thailand, the 37th exporting destination of Sri Lanka, holds significant economic importance, with a GDP of USD 495 billion in 2022 and is one of the largest outward investors in ASEAN. Thailand has brought over USD 92 Million worth of FDI to Sri Lanka during the period from 2005 to 2022.

In 2018, it was anticipated tripling the existing bilateral trade value (USD 550 Mn) to USD 1.5 Billion within four years. One of the main objectives of entering into a Free Trade Agreement (FTA) with Thailand is to enhance market opportunities for Sri Lanka with possible expansion.

The SLTFTA, having undergone extensive negotiations, has received legal clearance and is set to further strengthen economic ties between the two nations.

In a related development, the Governments of Sri Lanka and Thailand signed a new Bilateral Air Services Agreement, providing for liberalized services between the two countries. The agreement, which supersedes the 1950 agreement, reflects the commitment to enhance aviation relations and regulatory frameworks.

On behalf of Sri Lanka, the Minister of Ports, Shipping, and Aviation, Mr. Nimal Siripala de Silva, signed the agreement, while representing Thailand, Mr. Jakkapong Sangmanee, Deputy Minister of Foreign Affairs, signed the document.

Meanwhile, the Gem and Jewellery Research and Training Institute (GJRTI) of Sri Lanka and the Gem and Jewellery Institute of Thailand (GIT) solidified their commitment to enhance bilateral cooperation by signing a Memorandum of Understanding (MOU) which also took place at the Presidential Secretariat.

Representing Sri Lanka, Mr. B.G.R.W. Gamlath, Director General (Actg) of the Gem and Jewellery Research and Training Institute (GJRTI), and representing Thailand, Mr. Sumed Prasongpongchai, Director of the Gem and Jewellery Institute, signed the Memorandum of Understanding on behalf of the two countries.

The Gem and Jewellery industry, deeply rooted in Sri Lanka’s history, has flourished due to its production of high-quality gems, positioning the country uniquely in the global market.

Thailand, currently holding a distinctive position in the international Gem and Jewellery industry, recognizes the importance of collaboration.

With the shared goal of developing and promoting the industry in both nations, the MOU focuses on information exchange, scientific and technical research, and training activities.

UN FAO Colombo conference to transform Asia-Pacific agrifood systems

0

By: Staff Writer

February 04, Colombo (LNW): A major multilateral conference opened yesterday in Colombo which aims to transform the Asia-Pacific region’s agrifood systems, after multiple human and economic crises have set back progress to achieving the Sustainable Development Goals, particularly those to end hunger and poverty and reduce inequalities (SDGs 2, 1, 10).

FAO’s 37th session of the Regional Conference for Asia and the Pacific (#APRC37) marks a major international, multilateral milestone in an effort to reform agrifood systems across the Asia-Pacific region, after years of pandemic, climate emergencies, volatile markets and economies that have negatively affected millions of producers, farmers, fishers, pastoralists and consumers.

The #APRC37 is convened by FAO’s Regional Office for Asia and the Pacific and hosted by the Government of Sri Lanka. The two-part conference began today, with a Senior Officials meeting which will conclude Friday, 1 February. A Ministerial session, with Ministers arriving from across the vast region, will follow on 19-22 February, also in Colombo.

The stakes are high, but there’s little time to lose. The stakes to end hunger, poverty and inequality in the world’s largest region is higher now than any time in recent decades.

“We are currently going through a period of convergent crises. The long term and deep socio-economic impacts of the pandemic on food security and livelihoods have become obvious.

But these are being accentuated by conflicts, the effects of climate change, environmental pollution, multiple hazards and risks, including trans-boundary pests and diseases and loss of biodiversity which are particularly affecting agricultural production,” said FAO Regional Representative Assistant Director-General Jong-Jin Kim in opening remarks.

The latest Asia and the Pacific Regional Overview of Food Security and Nutrition, published in December 2023, shows that nearly 371 million people are undernourished in this region and this represents half of the world’s undernourished. Nearly 24% of the population suffer from moderate or severe food insecurity with women tending to be more food insecure than men.

Stunting among children under five years of age, with a prevalence of 23.4%, continues to be a public health problem in the region despite the declining trend from 2000.

In recent years, the average cost of a healthy diet in the region has risen to $ 4.15 per person per day on purchasing power parity basis. Almost 45% of the Asia-Pacific population, or 1.9 billion people, cannot afford a healthy diet.

Delegates at the APRC heard that FAO is encouraging the mobilisation of investment, external and internal, to end hunger and achieve SDG2.

FAO is also assisting countries to promote tailored investment plans for poverty reduction including social protection; fighting food loss and waste and conserving water; building adaptive capacities and collectively responding to specific needs of the Small Island Developing States (SIDS), Landlocked Developing Countries and Least Developed Countries. 

Thailand to collaborate with Sri Lanka tourism while increasing investment

0

By: Staff Writer

February 04, Colombo (LNW): Thailand expressed willingness to explore potential collaborations in Sri Lanka’s growing hospitality industry, covering food and beverages, hotel supplies and skills development through cooperation between academies and hospitality institutes.

This was highlighted by visiting Prime Minister of Thailand Srettha Thavisin when he addressed a business forum in Colombo yesterday.

Emphasizing the cultural and religious bonds between the nations, he mentioned Thai Airways International’s resumption of daily flights between Bangkok and Colombo commencing from the 31st of March.

The Prime Minister encouraged more Thai companies to invest in Sri Lanka’s infrastructure, manufacturing and energy sectors.

He also urged increased tourism, suggesting Thai companies capitalize on Sri Lanka’s infrastructure projects and tourist advantages in markets like India, UAE, and the EU, president’s media division said.

In terms of maritime connectivity, he identified Sri Lanka as a crucial partner in Thailand’s ambition to become a logistics hub in Southeast Asia, citing a land bridge project to connect the Andaman Sea with the Gulf of Thailand.

Additionally, he welcomed Indonesia’s high-crystal ocean project in the coming years.

The Prime Minister assured that Thailand is open for business year-round, inviting collaboration to foster economic growth and move into an exciting future, according to the PMD.

In a significant development, President Ranil Wickremesinghe addressed the Thailand-Sri Lanka Business Forum at the Kingsbury Hotel, highlighting the auspicious timing of the event. The President announced the signing of a ground-breaking free trade agreement (FTA) between Sri Lanka and Thailand, marking the second FTA with an ASEAN country.

President Wickremesinghe emphasized the historic trade relationship between the two nations, which predates even the Sukhothai Kingdom.

 He urged a revival of this connection, considering the strategic positions of Sri Lanka in the Indian Ocean and Thailand in the Asia Pacific.

The President also acknowledged the cultural ties, including shared traditions like the Ramayana and Theravada Buddhism, the President’s Media Division (PMD) said in a statement.

President Wickremesinghe welcomed Thailand’s Prime Minister and expressed enthusiasm for the proposed land bridge of Krah Canal, connecting Sri Lankan ports to the Asia Pacific.

He highlighted the potential for regional logistics centres and discussed collaborative efforts in renewable energy, agriculture modernization, and fisheries development.

 The President lauded the commitment to commercial Durian cultivation, with the Prime Minister offering assistance to modernize agriculture.

Tourism also took centre stage, with plans to provide land and historic buildings for development in strategic areas. President Wickremesinghe concluded by urging both nations to seize the opportunities presented and work collaboratively for mutual benefit, the statement mentioned.