July 08, Colombo (LNW): A five-member Supreme Court bench led by Chief Justice Jayantha Jayasuriya today (08) dismissed the fundamental rights (FR) petition filed by businessman C.D. Lenawa.
The petition sought to delay the calling of a Presidential Election until the Supreme Court provided clarity on the election date.
Earlier this morning, the Supreme Court concluded hearings on both the FR petition and intervening petitions. The verdict was announced at 12.30 p.m. today.
Lenawa filed the petition last Wednesday, requesting an interim order to halt the Presidential Election scheduled within the current timeframe until the court clarified the election date.
Alongside Chief Justice Jayasuriya, the bench included Justices Vijith Malalgoda, Murdu Fernando, Preethi Padman Surasena, and S. Thurairaja. Four other intervention petitions were also filed related to the FR petition, involving the National People’s Power (NPP), Wasantha Mudalige from the Inter-University Students’ Federation (IUSF), Wimal Weerawansa from the National Freedom Front (NFF), and the Samagi Jana Balawegaya (SJB).
Starting from 12th July 2024, the President’s Fund launches a new scholarship initiative to aid students from low-income families in grades 1 to 11 and G.C.E. (A/L): Managed by district secretaries with zonal education offices and school principals, the program will award 6,000 scholarships across educational zones: Each recipient will receive Rs. 6,000 per month for 24 months, with initial grants of Rs. 30,000 and ongoing support until G.C.E. (A/L) exams.
SLPP Secretary General Sagara Kariyawasam says the SLPP ‘does not agree’ with the economic policy of President Ranil Wickremesinghe whatsoever: asserts there is no discussion within the party about Wickremesinghe’s name being nominated for the upcoming presidential election: reiterates Wickremesinghe never informed the SLPP, nor any other political party, that he will contest the polls, despite comments backing Wickremesinghe being made by certain Ministers of the SLPP: Previously, SLPP Founder and former Minister Basil Rajapaksa asserted that Wickremesinghe will have the support of the SLPP for the election.
NPP Leader Anura Kumara Dissanayake criticises government for burdening citizens whilst implementing IMF programs and restructuring debt: acknowledges debt postponement but accuses the administration of celebrating temporary fixes to ‘self-inflicted’ issues: questions the government’s debt management strategies, emphasising the need for sustainable fiscal policies amid economic challenges.
Sri Lanka progresses in debt restructuring with key steps completed, including agreements with creditors and bondholders: Finance State Minister Shehan Semasinghe aims for a potential rating upgrade, emphasising the need to create a conducive environment for rating agencies: Despite challenges, including current default statuses, efforts continue to resolve these issues and achieve improved credit ratings.
Over 200 public sector trade unions, including Grama Niladhari officers and surveyors, are commencing a two-day strike starting today, citing demands for a salary increase: The strike, supported by postal workers since yesterday, aims to protest government policies: Healthcare services remain unaffected as medical unions have chosen not to participate, though public service disruptions are expected.
Sri Lanka’s construction industry anticipates a robust recovery with the restructuring of external debt, according to Access Engineering PLC’s C. Joshua: Debt restructuring, particularly with bilateral partners, is set to inject $2.5 bn, potentially boosting GDP by 3%: The sector expects revived infrastructure projects, including successful condominium ventures in Colombo: Challenges like skilled labour shortages and election impacts remain pivotal for sustained growth.
Sri Lanka’s bid to extend its continental shelf beyond the Exclusive Economic Zone faces hurdles from overlapping claims by India: Talks between both nations aim to resolve the issue, sparked by Sri Lanka’s 2009 submission to the UN on its continental shelf limits: Despite progress in delineation, final approval is pending: India’s interest in a cobalt-rich seabed area further complicates matters amid global energy transition concerns.
Lionel Fernando, former Chairman of ANCL and distinguished public servant, passes away: His career spanned roles including Government Agent for Jaffna, Governor of North Eastern Provinces, and Sri Lanka’s High Commissioner to Malaysia: He also served as Ambassador to the Netherlands and France, Foreign Secretary, and held key corporate positions: Funeral arrangements include respects at Jayaratne Respect Home and burial at Borella Cemetery today.
A shooting incident in Oruwala, Athurugiriya, has resulted in the death of one person and injuries to at least three others: Police confirm that the injured individuals, including popular singer K. Sujeewa, have been admitted to Homagama Hospital for treatment: The deceased has been identified as Surendra Wasantha Perera alias ‘Club Wasantha‘.
Sri Lanka faces challenges in extending its continental shelf due to overlapping claims with India, prompting bilateral talks: Despite delineating its shelf edge to UN satisfaction, final approval is pending: India’s actions, including seeking seabed exploration approval, complicate matters: Both nations aim to resolve disputes over the cobalt-rich Afanasy Nikitin Seamount through bilateral dialogue amid global green energy interests.
July 08, Colombo (LNW): Today (08), the Attorney General presented preliminary objections to a Fundamental Rights petition aimed at preventing the Election Commission from conducting the 2024 Presidential election.
Deputy Solicitor General Kanishka de Silva, representing the Election Commission, requested the Supreme Court, led by Chief Justice Jayantha Jayasuriya, to dismiss the petition in limine during the hearing of businessman Chamindra Dayan Lenawa’s petition.
July 08, Colombo (LNW): A shooting incident in Oruwala, Athurugiriya, has resulted in the death of one person and injuries to at least three others, according to reports.
Police have confirmed that the injured individuals, including popular singer K. Sujeewa, have been admitted to Homagama Hospital for treatment.
The deceased has been identified as “Club Wasantha.”
July 08, Colombo (LNW): Sri Lanka’s efforts to extend its continental shelf beyond the Exclusive Economic Zone have encountered complications due to overlapping claims from India, prompting bilateral engagement between the two nations to resolve the issue, revealed a top official.
In May 2009, Sri Lanka submitted technical and scientific data to the UN Commission on the Limits of the Continental Shelf under the Law of the Sea Convention.
This submission aimed to establish the outer limits of Sri Lanka’s continental shelf beyond the 200-nautical-mile Exclusive Economic Zone.
Since 2016, a dedicated Sri Lankan delegation has engaged in 11 rounds of talks with a sub-commission established by the UN Commission.
According to informed sources, Sri Lanka has successfully delineated the outer edge of its continental shelf to the satisfaction of the sub-commission, awaiting final approval from the UN body.
Last year, Foreign Affairs Minister Ali Sabry obtained Cabinet approval to establish the National Ocean Affairs Committee under the Ministry to collaborate with the sub-commission on this matter.
However, India has also asserted overlapping claims in the same region. Minister Sabry reportedly discussed this issue with Indian External Affairs Minister Dr. S. Jaishankar during a recent visit to Sri Lanka.
Dr. Jaishankar has committed to examining the matter closely for appropriate action.
In cases of overlapping claims, the UN Commission typically directs countries to resolve the issue bilaterally before further action can be taken.
In a related development, India sought approval from the International Seabed Authority in January to explore the cobalt-rich Afanasy Nikitin Seamount in the central Indian Ocean, an area also claimed by Sri Lanka in its continental shelf expansion plans.
This issue remains unresolved pending bilateral discussions.
Cobalt, a critical mineral essential for electric vehicles and batteries, holds significant importance in the global transition towards green energy.
July 08, Colombo (LNW): Sri Lanka’s construction industry is on the brink of a major revival, spurred by ongoing efforts to restructure external debt, C. Joshua, Executive Vice Chairman of Access Engineering PLC disclosed.
Previously stalled projects, which were partially funded through bilateral agreements, are set to resume following the successful completion of the debt restructuring process, he noted.
Joshua underscored the importance of this restructuring in rejuvenating the sector. He highlighted that the completion of debt restructuring, particularly with bilateral partners, is vital for restarting halted projects.
“The bilateral debt restructuring is expected to inject nearly $2.5 billion into the market, potentially boosting GDP by 3%,” Joshua emphasised.
This financial influx is anticipated to provide essential liquidity, allowing large-scale infrastructure projects to proceed and stimulating economic growth.
Contrary to rumours, Joshua mentioned that condominium projects in Colombo and surrounding areas are performing well, with many projects such as Trizen and Havelock City nearing full occupancy.
During a panel discussion hosted by CAL Sri Lanka on July 3, Joshua confirmed that all pending government payments to contractors had been settled.
Jan Kunigk, CEO of INSEE Cement, highlighted the importance of lower interest rates resulting from improved credit ratings to attract private investments.
He cited the commencement of significant projects, including a large warehouse for Michelin, even amid economic challenges.
“We are witnessing positive investment trends in sectors like petroleum and renewable energy,” Kunigk added, showcasing the private sector’s resilience.
Mahesh Amarasiri, CFO of ACL Cables PLC, discussed the burgeoning renewable energy sector, which has become a focal point for investment.
He noted the increasing demand for solar energy projects and related products, driven by electricity sector reforms.
“The renewable energy sector is a new market for us, with rising demand for solar cables and related products,” he said, emphasizing ACL Cables’ readiness to meet this demand.
Despite the promising outlook, the panellists acknowledged several challenges. The brain drain and shortage of skilled labour were highlighted as significant obstacles.
Companies like Access Engineering and INSEE Cement are addressing this issue through comprehensive training programmes and technological advancements to improve productivity and efficiency.
Concerns were also raised about the potential impact of upcoming elections on policy consistency.
The panellists stressed the need for stable and consistent policies to foster investor confidence and ensure long-term growth.
July 08, Colombo (LNW): Animal enthusiasts nationwide are eagerly awaiting the approval of the Animal Welfare Bill in Parliament, according to the Veterinarians for Humane Management of Animal Population Association.
Dr. Chamith Nanayakkara, an advisor to the association, told Daily Mirror that advocates of the bill have been campaigning for its passage since 2000.
He emphasised that the proposed legislation is well-balanced, addressing concerns from the meat and dairy industries without negatively affecting them.
The focus is on ensuring the safety and welfare of animals.
“The bill’s delay was to guarantee a balanced and problem-free solution,” Dr. Nanayakkara explained. “The animal welfare committee conducted several discussions with stakeholders from the meat and dairy industries, perahera events, and various animal welfare organisations.”
The Animal Welfare Bill is set for discussion in the Cabinet tomorrow (9) and will be debated in Parliament on Thursday (11). Animal lovers are hopeful that the bill will finally be passed.
The association has previously declared that they will only support parliamentary members who endorse the Animal Welfare Bill, emphasising that animal welfare is not just a duty but a reflection of our compassion towards animals.
July 08, Colombo (LNW): The Education Ministry has launched an interest-free student loan scheme to support high school graduates who are unable to secure admission to state universities.
This initiative, part of the 2017 budget proposals, enables students to pursue degrees at non-state higher education institutions.
The scheme offers up to Rs. 800,000 without any interest. To date, 17,313 students from seven different cohorts have benefited, enrolling in 100 degree programmes at 17 Ministry-approved non-government institutions.
Among these students, 2,353 from the first three cohorts have completed their degrees, with honours degree candidates in the third group nearing completion.
Currently, 10,258 students in the fourth, fifth, and sixth stages are receiving loan payments, while 3,682 students in the seventh stage are pursuing 91 degree courses without financial barriers.
The Education Ministry and the Ministry of Finance, Economic Stabilisation, and National Policy have sanctioned all necessary approvals for the current batch.
Additionally, the student loan agreements with the Bank of Ceylon and People’s Bank are expected to be finalised next week.
To expand the scheme, proposals have been invited from non-government higher education institutions to enrol female high school graduates from 2022 as the eighth batch.
A meeting with relevant stakeholders is scheduled next week at the Ministry of Economic Stabilisation and National Policy.
Efforts are ongoing to ensure the provision of interest-free student loans for 2022 high school graduates to pursue their studies at non-state higher education institutions.
July 08, Colombo (LNW): Following the completion of three critical steps in its debt restructuring—finalising Domestic Debt Optimisation (DDO), signing agreements with the Official Creditor Committee and China Exim Bank, and reaching consensus with bondholders—Sri Lanka is now on track for a potential rating upgrade, Finance State Minister Shehan Semasinghe said.
He emphasised that while the next goal is a rating upgrade, the country must work diligently to achieve this and move past its current default status.
“We cannot dictate a timeline for the rating agencies to update us. Our role is to create an environment conducive for the rating agencies to evaluate,” said Semasinghe.
During a virtual briefing on Friday (05), Semasinghe highlighted that creating this favourable environment and completing the debt restructuring process in all aspects is essential for the rating agencies to consider an upgrade.
“We are confident in our ability to create a conducive environment for the rating agencies to review. However, as of now, an upgrade is not imminent. The rating agencies have their criteria and timelines, but we have certain areas that still need resolution,” he asserted, acknowledging the current situation.
Explaining the timelines, he noted that a specific timeframe cannot be set, as there have been instances where expected resolutions were achieved ahead of schedule.
“Certain timelines have been extended after bilateral discussions. No changes were made unilaterally; it was always a mutual decision. We consulted the relevant stakeholders and then made adjustments, even with the IMF,” he explained.
Semasinghe also mentioned that while some rating agencies have their own tracking mechanisms, they must understand the complexities of the situation. “It’s easier said than done,” he remarked.
Sri Lanka is currently classified under restrictive default and selective default, indicating that the country is not meeting part of its debt obligations.
Central Bank Governor Nandalal Weerasinghe recently stated that the primary focus is to resolve this situation and complete the restructuring process to exit these defaults.
“The success of this effort will determine our next steps. With swift action, we can progress towards achieving credit ratings such as B, BB, or BBB,” he said.
July 08, Colombo (LNW): President Ranil Wickremesinghe honoured the late R. Sampanthan, former Leader of the Tamil National Alliance (TNA) and former Leader of the Opposition, recognising him as a champion of the rights of not only the Tamil community but all Sri Lankans.
He highlighted that both he and Sampanthan were committed to the vision of an undivided Sri Lanka and urged for the continuation of the discussions initiated with the late TNA Leader.
These remarks were made by the President while attending Sampanthan’s funeral at his residence in Trincomalee this yesterday (07).
The ceremony honoured the former Leader of the Opposition and member of the Tamil National Alliance (TNA), as well as the late Trincomalee District Member of Parliament, and was attended by numerous political figures from both the government and opposition.
Wickremesinghe expressed his sorrow over the loss of Sampanthan, describing him as a long-time friend.
The President reiterated his commitment to addressing the issues faced by the Tamil people, which Sampanthan had tirelessly advocated for. He also announced that the draft of the National Land Commission Bill is ready to be presented to Parliament.
This commission will have the authority to resolve land issues affecting the Sinhalese, Tamil, and Muslim communities, in coordination with the Department of Forest.
The President praised Sampanthan’s role as Leader of the Opposition, noting that an opposition leader is essentially an alternative prime minister.
He commended Sampanthan for addressing the concerns of all Sri Lankans, not just the Tamil community.
On the subject of upcoming elections, President Wickremesinghe stated that despite any court challenges, the presidential election will be held this year.
Arrangements will be made to conduct parliamentary and provincial council elections subsequently.
Addressing the funeral gathering, the President shared memories of his friendship and professional relationship with Sampanthan, spanning several decades.
He recalled their early days in Parliament and their collaborative efforts in addressing the issues of the Tamil community post-2009.
He emphasised that Sampanthan never sought a separate state but always advocated for unity and resolving the Tamil people’s problems.
The President highlighted their joint efforts in past elections and Sampanthan’s steadfast commitment to a united Sri Lanka.
Wickremesinghe reiterated the need to continue and conclude the discussions initiated with Sampanthan. He outlined the government’s plans to implement the 13th amendment, hold provincial council elections, and address the issues raised by the Jana Sabha system and the Nawaz Commission report.
The President concluded his speech by calling for collective support to complete the important work started with Sampanthan, reaffirming their shared vision of an undivided Sri Lanka.
