January 29, Colombo (LNW): The ‘Lorenzo Putha 04’ vessel previously reported to have been captured by Somalian pirates has been released by the Seychelles Navy.
The Sri Lankan vessel was freed during an operation launched by the Seychelles Navy, and three pirates have been taken into custody, Navy Spokesman Captain Gayan Wickramasuriya said.
The vessel was taken into custody by the Seychelles Navy and the six Sri Lankan fishermen have been rescued.
The said vessel is currently being sent to the island’s capital Victoria, according to report.
January 29, Colombo (LNW): In a strategic move towards sustainable energy solutions, People’s Bank and George Steuart Solutions Ltd. (GSS) entered into a Memorandum of Understanding (MoU) to collaborate on a pioneering initiative for solar solutions in Sri Lanka.
To encourage more investment in the renewable energy sector, the government is to support investors through various incentives, such as tax waivers and import tax exemptions.
By providing a conducive environment for investors, Sri Lanka can attract more capital and expedite the growth of renewable projects
This groundbreaking partnership aims to make solar energy more affordable to customers by offering a comprehensive package that combines financial support and incentives. People’s Bank, a leading commercial bank in Sri Lanka, will provide tailored loans for customers who are seeking to invest in solar systems.
The financial patronage will enable the adoption of solar energy solutions by making them accessible to a broader segment of the public.
Partnering in this collaboration, GSS, a prominent solar systems provider in Sri Lanka, will play a pivotal role by offering exclusive discounts on their wide range of solar products.
This synergy between banking and solar technology demonstrates a commitment to foster sustainable practices and encourage the drive towards renewable energy.
This collaboration is a vibrant example of how the banking and renewable energy sectors could collaborate to create impactful initiatives. As this initiative gains momentum, it holds the promise to transform the renewable energy landscape and contribute to a brighter and greener future for Sri Lanka.
The power and energy ministry is exploring the potential of solar power generation by identifying 31 reservoirs suitable for floating solar panels.
This effort, involving both the Sri Lanka Mahaweli Authority and the Irrigation Department, could harness 2524 MW of power from 14 Mahaweli Authority reservoirs and 553 MW from 17 Irrigation Department reservoirs.
These initiatives, all implemented in collaboration with the Ministry of Power and Energy, hold great promise for enhancing water security and sustainable energy production in Sri Lanka, a senior official of the ministry said.
The aim is to generate 3,376 GWh of renewable energy, accounting for 20% of the overall electricity requirement.
Ground-mounted solar projects offer a promising opportunity to expand renewable energy capacity in Sri Lanka.
However, the selection of suitable land for these projects must be carefully done, as many lands are irrigated and can be utilized for agriculture or other purposes. Implementing ground-mounted solar projects on idle lands can help the country achieve its renewable energy targets without compromising other vital sectors.
The renewable energy sector in Sri Lanka faces challenges due to inconsistent government policies. Investors require long-term stability to recoup their investments, but economic downturns, currency devaluation, and restrictions on expatriation of profits have adversely affected entrepreneurs’ willingness to invest in renewable projects.
January 29, Colombo (LNW): The Public Utilities Commission of Sri Lanka (PUCSL) is on track to complete its electricity tariff revision review process by mid-February, with plans to unveil the new tariffs by the end of the month.
It is learnt that the anticipated changes come as a response to favourable hydro storage as well as profits earned by the Ceylon Electricity Board (CEB) for the year ending 31 December 2023.
As part of the process, a public consultation on the proposed tariff revision is scheduled for 15 February, providing stakeholders an opportunity to weigh in on CEB’s tariff proposal for January to March 2024.
The proposed structure includes a 3.34% reduction, already approved by the board and set to be implemented from 1 February.
The Ceylon Electricity Board (CEB) says it has submitted the necessary data supporting the proposal seeking electricity tariffs revision to the Public Utilities Commission of Sri Lanka (PUCSL).
Based on CEB’s analysis, a surplus of Rs. 23,730.9 million is estimated. The CEB says the surplus can be used for the reduction of average tariff by 3.34%.
Electricity tariffs in the domestic category for consumers using less than 30 units is thus proposed to be reduced by Rs. 1, to Rs. 11 per unit. Meanwhile, the fixed charge for the first 30 units consumed is proposed to be reduced to Rs. 165 from Rs. 180.
Furthermore, the tariff charged per unit for the units consumed between 31-60, which currently stands at Rs. 30, is proposed to be reduced to Rs. 27. The fixed charge for this category is suggested to be brought down to Rs. 360 from Rs. 330.
Comments on the proposed forecast costs and tariff structure are invited from stakeholders until 12 February through written submissions via email, fax, or post. An oral consultation session is scheduled for 15 February in Colombo.
When contacted, PUCSL Corporate Communications Director Jayanat Herat said the PUCSL expected the review process to conclude by the end of next month.
Meanwhile, CEB Spokesman Deputy General Manager Noel Priyantha revealed that the tariff proposals were currently with the PUCSL, pending the commission’s approval.
The proposed tariff reduction follows Sri Lanka’s third electricity tariff revision for 2023 on 21 October which saw an 18% increase.
This was preceded by a 66% rise in electricity tariffs from 15 February 2023 and an additional 14% increase effective 1 July 2023. Notably, the CEB was granted a substantial tariff revision of 75% in August 2022.
January 29, Colombo (LNW): Subsequent to Petroleum Product License in Sri Lanka for another 20 years from January 22, 2024 Lanka IOC (Indian Oil Corporation), on Saturday to extend the ‘Group term assurance plan’ through LIC Lanka, official sources of the company revealed.
The government in 2023, also gave petroleum distribution licenses to China’s Sinopec and two other companies.
Both Lanka IOC and Sinope was to have been given a third share of the fuel business in the 2001 to 2003 privatization drive but it was halted after then Prime Minister Ranil Wickremesinghe was ousted.
The Indian High Commissioner to Sri Lanka, Santosh Jha, attended an event of Indian Oil’s subsidiary in Sri Lanka, Lanka IOC (Indian Oil Corporation), on Saturday to extend the ‘Group term assurance plan’ through LIC Lanka.
He lauded LIOC’s contribution to the economy and its service to society through various CSR activities. “extending the ‘Group term assurance plan’ through LIC Lanka to its 1500 customer attendants across the island.”
Lanka IOC is the only private oil company that operates retail petrol and diesel stations in Sri Lanka.
The economic crisis in Sri Lanka has adversely affected food security, agriculture, livelihoods, and access to health services.
Ahead of Sri Lanka’s presidential and parliamentary elections scheduled this year, Eastern Province Governor Senthil Thondaman affirmed support for sitting premier Ranil Wickremesinghe and backed him to be re-elected, saying that he stabilised the country and lifted the economy from dire straits.
On the ongoing negotiations with the International Monetary Fund (IMF) for securing the third tranche of loans for the economic bailout and recovery, the Lankan leader said the President was working with the world body to obtain the necessary funding and support and the country was well and truly on the road to recovery.
Sri Lanka has been reeling under a severe economic crisis in the recent past, with COVID-induced lockdowns wrecking the country’s economic backbone–tourism.
Mounting bad loans also added to the nation’s woes, putting the economy under severe stress and on the verge of bankruptcy.
In addition, a foreign exchange crisis, heavy Chinese debts, and a failed move to shift the country’s agriculture to 100 per cent organic had intensified the country’s troubles.
However, at a time when the country, also known as the Emerald Isle, was staring at an economic abyss, with riots breaking out and the previous Rajapaksa government collapsing in the face of mounting public anger, India came out in its support and extended a helping hand to its southern neighbour. New Delhi not only opened a line of credit for the embattled nation but also extended timely assistance on various fronts to help the island nation recover from the crippling economic crisis.
January 29, Colombo (LNW): All executive-grade government officers have commenced a trade union action this (29) morning by reporting sick, announced the Joint Committee of All-Island Executive Officers.
The trade union action is based on several demands, Joint Committee Chairman H.L.A. Udayasiri said.
A conference is scheduled today with the participation of all executive-grade officers from the government sector.
He added that executive officers from departmental services such as the Proprietorship Service, Education Administration Service, Ayurvedic Medical Service, and Surveying of the country, considered as country-wide services, will convene in Colombo for a conference.
Emphasising the need for solutions to unresolved professional problems faced by executive service officers, Udayasiri highlighted the collective effort to address these issues through the trade union action.
January 29, Colombo (LNW): A devastating fire erupted last night (28) in Mawanella, causing complete destruction to at least 30 shops located in the town near the main bus stand.
The collaborative efforts of the police, firefighters from the Mawanella Pradeshiya Sabha’s fire brigade, and local residents successfully brought the flames under control.
Despite their efforts, numerous shops dealing in fruits, textiles, and plastic goods were reportedly consumed by the fire.
The cause of the fire remains undetermined, prompting ongoing investigations by the Mawanella Police to ascertain the circumstances surrounding the incident.
January 29, Colombo (LNW): Lohan Ratwatte assumed the oath of office as the State Minister of Plantation Industries and Mahaweli Development before President Ranil Wickremesinghe at the Presidential Secretariat this morning, the President’s Media Division (PMD) announced.
It is noteworthy that Ratwatte had previously served as the State Minister of Plantation Industries.
January 29, Colombo (LNW): The Sri Lankan Rupee (LKR) has further appreciated against the US Dollar today (29) in comparison to last week’s Friday, as per the official exchange rates issued by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has dropped to Rs. 312.67 from Rs. 313.17, and the selling price to Rs. 322.77 from Rs. 323.17.
The Rupee has also appreciated against several other foreign currencies.
January 29, Colombo (LNW): A 34-year-old individual from Rathgama has been apprehended by the police for his alleged involvement in aiding the shooters responsible for the recent murder of five individuals in Beliatta on January 22.
The arrest, conducted by a team of police officers from Hakmana on January 26, took place on the Dhodanduwa Road in Rathgama.
The suspect is accused of receiving two T-56 weapons from the chief suspect involved in the shooting and subsequently transporting the firearms from Akuressa to Karapitiya, according to police reports.
In addition to the arrest, the police have seized the motorcycle utilised for transporting the weapons and two mobile phones belonging to the suspect.
The apprehended individual has been handed over to the Beliatta Police for further investigation, and a detention order has been obtained, allowing the police to detain the suspect for seven days for interrogation.
The mass shooting in Beliatta resulted in the tragic deaths of five individuals, including Saman Perera, the Leader of the ‘Our Peoples Party’ (Ape Jana Bala Pakshaya).
The incident is believed to be linked to a retaliatory motive stemming from a triple murder in Tangalle last year.
January 29, Colombo (LNW): Six university students have been apprehended in connection with an incident of ragging involving a female student at Sabaragamuwa University.
The individuals in question, identified as fourth-year students from the Faculty of Social Sciences and Language Studies, were arrested following a probe conducted by the Samanala Wewa Police.
The arrests were made based on a complaint received via the 1997 hotline on January 14.
The detained students, aged 23, 24, and 25, are residents of Morawaka, Ruggahawila, Imaduwa, and Kitalawa.
The legal proceedings will follow due process as authorities address the allegations related to the initiation ritual, emphasising the seriousness with which incidents of ragging are treated in educational institutions.
