May 08, Colombo (LNW): An enhancement of showery condition over most parts of the island is expected during next few days from today (08th May).
Showers or thundershowers will occur at several places in most provinces of the island after 2.00 p.m.Fairly heavy showers about 75 mm are likely at some places in North-central, Central, Sabaragamuwa and Uva provinces.A few showers may occur over the coastal areas of Puttalam to Hambantota via Colombo and Galle during the morning too.Misty conditions can be expected at some places in Central and Sabaragamuwa provinces during the morning.General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers
May 07, Colombo (LNW): The final leg of the Women’s Twenty20 World Cup qualifying tournament is currently being held at the Abu Dhabi Stadium.
In this final match between Sri Lanka and Scotland, the toss was won by Scottish captain Sarah Bryce. She decided to hand over the responsibility of batting first to Sri Lanka.
May 07, Colombo (LNW): Concluding a two-day visit, IFC’s Vice President for Asia Pacific, Riccardo Puliti, demonstrated IFC’s commitment to supporting Sri Lanka’s continued reforms and growth agenda, while emphasizing the importance of private sector-led development for inclusive economic grow.
He also emphasized the importance of private sector-led development for inclusive economic growth.
The visit provided an opportunity for Puliti to engage with key stakeholders including a meeting with the President of Sri Lanka, HE Ranil Wickremasinghe, Minister of Power and PowerKanchana Wijesekera, Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe, representatives of the private sector and development partners.
Sri Lanka has immense potential. As the country recovers from the unprecedented economic crisis, it is crucial to maintain the momentum and continue implementing key measures to support the transition from economic stabilization to sustainable growth.
By embracing necessary reforms, fostering a conducive business environment, and prioritizing sustainable, inclusive growth, Sri Lanka can unlock its full economic potential and create a bright future for its people,” said Puliti.
Puliti signed an agreement for a new equity investment in Sunshine Healthcare Lanka Limited to support the company in its growth plan to increase its pharmaceutical manufacturing capacity and expand the pharmaceutical retail footprint.
“From providing banks with a much-needed cross-currency swap facility a year ago, to now investing in equity, IFC is committed to supporting Sri Lanka as it transitions from stabilization to sustainable growth. This is a vote of confidence in the country’s private sector and economic recovery,” said Puliti.
While in Colombo, Puliti also signed an advisory engagement with Commercial Bank of Ceylon (CBC) to scale up green finance, fostering a sustainable future for Sri Lanka’s financial sector.
Through this partnership, funded by the European Union, IFC aims to assist CBC in its transition towards net-zero and diversify its green finance portfolio.
“IFC will continue to assist Sri Lanka in developing and scaling up green finance to support the country in its path to a net-zero future,” said Puliti.
With over five decades of operations in Sri Lanka, IFC’s efforts in the country focus on three strategic pillars: supporting innovation for growth (including export diversification, start-ups, niche market agriculture, value additions for export, and high tech manufacturing); growth-enabling sustainable infrastructure (including low-cost clean energy, and sustainable transport and logistics systems); and deepening social and financial inclusion (including digitization, and the economic participation of underserved people, especially women).
Since the onset of the pandemic, IFC has invested over US$800 million in Sri Lanka providing essential long-term capital and trade financing to help sustain businesses and preserve jobs.
Recently, IFC partnered with Citizens Development Business Finance PLC (CDB) to help expand its climate finance product offerings and devise a carbon credit aggregation business model.
IFC also collaborated with CBC to build a Supply Chain Financing (SCF) strategy that will enable the Bank to lend more to small and medium-sized enterprises and establish itself as a leading SCF bank in Sri Lanka.
May 07, Colombo (LNW): VFS Global, which styles itself as the world’s leading outsourcing and technology service specialist, dismissed security and cost concerns and described the new electronic visa processing arrangement in Sri Lanka as progressive.
The company at the center of controversy surrounding the issuance of on arrival visa at the Bandaranaike International Airport (BIA), has issued a statement today in response to accusations and to clarify certain concerns which have been raised.
VFS Global said it has been operating in Sri Lanka since 2004 and has been facilitating the visa application process for 23 governments including the UK, Australia, Canada, New Zealand, and Schengen countries such as France, Germany, Switzerland, Italy, Norway, Austria, Latvia, Hungary, Croatia, Malta, and Greece.
VFS Global said it operates six visa centres located in Colombo and Jaffna and employs over 123 Sri Lankan nationals. Since 2004, VFS Global Sri Lanka has processed over 3.2 million applications, it said.
The Department of Immigration and Emigration (DI&E) signed a tripartite contract with GBS Technology Services & IVS Global FZCO being the prime contractor and VFS Global being the technology partner for the Sri Lanka government’s new E-Visa solution. www.srilankaevisa.lk.
VFS Global said it manages non-judgmental and administrative tasks related to the application process only. The decision to grant or reject the visa is at the sole discretion of the Department of Immigration and Emigration, it pointed out.
VFS Global says it has experience offering its digital E-Visa platform to 12 governments including Thailand, Dubai, Equatorial Guinea, Azerbaijan, and Suriname, amongst others.
As part of the digital transformation and modernisation of the visa system, the government of Sri Lanka decided to adopt VFS Global’s digital platform for its E-Visa and Visa-on-Arrival process. The objective is to make the process seamless to aid increased tourism and investment opportunities.
“The total service fee approved by the Cabinet is US$ 18.50 across all visa categories. Payment processing charges and applicable local taxes are in addition to the service fee.”
Minister of Public Security Tiran Alles says that action will be taken against the person who had caused a disturbance recently in the visa issuance section at the Bandaranaike International Airport (BIA) in Katunayake.
The minister said that action will also be taken against the officers who had recorded the incident in question.
He stated that the issue of visa fees was also part of the adopted proposal, and that even though it was passed in November, it was not possible to implement the change through the Electronic Travel Authorization (ETA) system and therefore they had to wait until April 17 to implement it through the VFS system.
The Minister further stated that due to the issues with ETA system, they had proceeded with changing the system.
He further said: “The talk was only about the USD 75, which means a 6-month visa, a double entry visa. But there was a small mistake on our end. Our 50-day visa was USD 30.
He said that he passed the 50-day visa along with the resident visa. It will be in the system from tomorrow onwards. For 30 days single entry visa is USD 50.”
May 07, Colombo (LNW): The Sri Lanka government plan’s to resume the JICA funded US$2.2 billion ‘Light Rail Transit (LRT) project, stretching from Malabe to Colombo Fort abruptly terminated by the previous regime is on the balance due to Japan’s reluctancy to resume it soon.
Kaneko Mariko, the deputy press secretary of the Japanese Foreign Affairs Ministry said , the project was cancelled even before Sri Lanka was declared bankrupt . She was accompanying Japanese Foreign Minister Yoko Kamikawa who was in Colombo and held bilateral talks on Saturday.
Ms. Mariko said Sri Lanka sought to resume work but Japan decided not to discuss it at this juncture. She said the Japanese assistance for any such LRT project would depend Sri Lanka’s debt sustainability and the scale of it. Also, she noted that it should be a fresh project on new terms.
However, she said all the other projects stalled due to the economic crisis would resume upon the signing of the Memorandum of Understanding (MoU) on debt restructuring with the creditor nations. These projects include the expansion of the Bandaranaike International Airport (BIA).
On September 21, 2020, Dr. P.B. Jayasundara, in his capacity as then Secretary to President Gotabaya Rajapaksa, has directed the Transport Ministry Secretary to terminate the project immediately.
He stated thatthe LRT system was costly and “not an appropriate or cost-effective transport solution for the urban Colombo transportation infrastructure.
The present administration is set to renew the LRT project contract with JICA loan facility due to its favourable conditions including low interest rates and the grace period of 12 years which was completely ignored by the previous regime
This unilateral action has not only stained the friendly relations with Japan but also its benefits to ease traffic congestions and fiscal support for the cash strapped country hit by economic crisis.
The government is yet to take any action to terminate the loan agreement with Japan International Cooperation Agency (JICA), the Auditor General’s special report revealed.
The Government has not yet settled a claim of around Rs 5 billion from the project consultants Oriental Consultants Global of Japan and Sri Lanka’s Consulting Engineers and Architects Associated for the work already done, expenses and loss of profit caused by the cancellation of the project in 2020.
Sri Lanka’s Auditor General has confirmed this claim adding that after loan agreement number 2019011 linked to the LRT was scrapped following a policy decision, a consultancy contract was terminated and the firm has demanded a sum of Rs.5.89 billion for losses and damages.
The total consultancy cost of the project is estimated at around US $ 140 million for seven years, including the feasibility review, detailed design, evaluation assistance, and construction supervision inclusive of all government taxes.
May 07, Colombo (LNW): Transparency International Sri Lanka (TISL) is extending an invitation to the public to review and provide specific feedback on the proposed law regarding Proceeds of Crime Act.
TISL said is concerned that the published Report was drafted without any public consultation, demonstrating Sri Lankan Government’s flagrant disregard for public and civil society consultation in the formulation of a key anti-corruption legislation such as the POCA.
The POCA, designed to recover and manage stolen assets, is a crucial piece of legislation that requires comprehensive input from diverse stakeholders, including the public, civil society, and local experts, to ensure its effectiveness and alignment with democratic principles.
It is also concerning that the IMF, which was providing technical assistance to this process seems to have condoned the lack of a proper, transparent and consultative process.
TISL said such feedback can be submitted via email to [email protected] with the subject line “Feedback for the proposed law on Proceeds of Crime”.
While the exact timeline for the Bill’s presentation to Parliament remains uncertain, TISL commits to forwarding all received feedback to the Ministry of Justice for consideration.
TISL also called upon the Government to take adequate time and genuinely engage in meaningful dialogue with the public, local experts, and civil society actors to ensure that the legislation is robust, in line with the Constitution, upholds the rights of citizens, reflects the aspirations of the Sri Lankan people and serves as a valuable tool for transparency and accountability.
TILS said grand corruption has long plagued Sri Lanka, undermining the country’s economic development and eroding public trust in the Government.
Citizens have been increasingly vocal in their demand for justice, transparency, and the return of illicitly acquired wealth to benefit the nation.
The Proceeds of Crime Act (POCA) intends to provide a legal framework for tracing, seizing, recovering, and managing illicitly acquired assets hidden offshore, ensuring that perpetrators of corruption are held accountable and that stolen assets are returned to their rightful owners—the people of Sri Lanka.
Recognising the absence of a comprehensive and consistent legislative framework in Sri Lanka for the purpose mentioned, there has been a longstanding call for new legislation.
Recent stipulations from the International Monetary Fund (IMF) as part of a structural benchmark necessitated the enactment of legislation on stolen asset recovery by March 2024, aligning with the standards set forth in the United Nations Convention Against Corruption (UNCAC).
The Ministry of Justice in its official website has now published the ‘Report of the Committee to Develop the Policy and Legal Framework and Draft Provisions of the Proposed Law on Proceeds of Crime’ dated 10 April, 2024. The 17-Member Committee is headed by Supreme Court Justice Yasantha Kodagoda, PC.
May 07, Colombo (LNW): The Sri Lankan Rupee (LKR) indicates further depreciation against the US Dollar today (07) in comparison to yesterday, as per leading commercial banks in the country.
At Peoples Bank, the buying price of the US Dollar has increased to Rs. 293.46 from Rs. 291.89, and the selling price to Rs. 303.39 from Rs. 301.77.
At Commercial Bank, the buying price of the US Dollar has increased to Rs. 292.73 from Rs. 291.49, and the selling price to Rs. 302 from Rs. 300.75.
At Sampath Bank, the buying price of the US Dollar has increased to Rs. 295 from Rs. 292.50, and the selling price to. Rs. 304 from Rs. 301.50.
The Cabinet decides to maintain the current $50 fee for a 30-day visa for foreign visitors to Sri Lanka: The visa waiver for citizens of seven countries remains unchanged: This decision, aimed at supporting the tourism sector’s growth, follows appeals from industry stakeholders and was finalised during the Cabinet meeting chaired by President Ranil Wickremesinghe.
A World Anti-War Alliance has been formed under the leadership of former Health Minister and current SJB MP Rajitha Senaratne: The inauguration ceremony was attended by representatives of political parties, religious leaders and representatives of civil organisations: MPs Duminda Dissanayake, Mano Ganesan, Rishard Bathiudeen attended the event, among others: Former UNP minister Ravi Karunanayake also attended.
Ben Mellor, the Indo-Pacific Regional Director of the UK Foreign, Commonwealth and Development Office, met with NPP leader MP Anura Kumara Dissanayake at the JVP Headquarters, along with other UK officials and MP Vijitha Herath: discuss Sri Lanka’s economic and political situation, regional geopolitical challenges, and cooperation between the UK and Sri Lanka.
Tourism Minister Harin Fernando expresses readiness to resign over the new visa process during a Cabinet meeting chaired by President Ranil Wickramasinghe: objects to the $18.5 service fee by VFS Global, advocating for a $50 all-inclusive 30-day single-entry visa: Following discussions, the Cabinet decides on a $50 flat rate for such visas starting May 7th: clarifies his stance on social media, denying a circulating resignation letter as false.
The Road Development Authority is investigating the concrete beam collapse on the Kadawatha-Mirigama stretch of the Central Expressway: The incident occurred on Sunday, prompting a halt to construction: A detailed report is forthcoming: Authorities are examining other structures along the route for safety: Suspicions of sabotage have arisen, but the cause remains undetermined.
Approval has been granted for 484 megawatt wind power stations in Mannar and Pooneryn, following an MoU with Adani Green Energy Limited: A negotiation committee will assess the project proposal, endorsed by the Cabinet, which includes a final price of US$ 8.26 per kilowatt for electricity generated: Adani Green Energy SL Limited will be awarded the project tender for 20 years.
Concerns mount as Sri Lanka transitions to a new regulatory body for its petroleum industry, particularly regarding unauthorised entrants in the lubricant sector: The former regulator’s functions have ceased, leading to worries about oversight: Chevron Lubricants Lanka voices apprehensions about potential risks to licenced players and consumers: The Energy Ministry’s directive to remit lubricant licence fees directly to them raises further concerns: Despite this, the industry welcomes the initiative to establish a comprehensive regulatory framework: The Cabinet has approved the formation of a panel to draft legislation for the petroleum regulator, covering various petroleum products.
Public Security Minister Tiran Alles announces Singapore will send a five-member team to Sri Lanka on May 27 to assess and provide recommendations for improving the country’s airport and immigration systems: emphasises the need for Sri Lanka’s immigration services to upgrade to match Singapore’s standards: asserts while immediate implementation may be challenging due to economic constraints, the report will guide the adoption of feasible technologies.
Underworld kingpin ‘Manna Ramesh’ was brought back to Sri Lanka by the CID after being arrested in Dubai in March: Suspected in multiple crimes, including murders and drug trafficking, he was repatriated following a request for extradition: Further investigations to be conducted by the CID.
The Lanka Premier League 2024, set for July 1st to 21st, will host its player auction on May 21st at Hotel Shangi-La, Colombo: This year’s edition sees a shift from player drafts to auctions, with over 500 overseas players vying for selection: Key players like Tamim Iqbal and Tim Southee are among those registered: Each team can have 20 to 24 players, including six overseas, with one U23 Sri Lankan player mandatory in the playing XI.
May 07, Colombo (LNW): Minister of Industries and Health, Dr. Ramesh Pathirana, announced that the upcoming “Industry EXPO 2024” is scheduled to be held at the Bandaranaike Memorial International Conference Hall (BMICH) from June 19th to 23rd, under the patronage of President Ranil Wickremesinghe.
Moreover, the minister highlighted the introduction of the inaugural international conference alongside the esteemed “Industry Green Awards” ceremony, aimed at promoting sustainable practices within the industry.
Minister Ramesh Pathirana made these statements while addressing a media briefing at the Presidential Media Centre (PMC) on Monday (06) under the theme “Collective Path to a Stable Country.”
He further remarked:
The forthcoming International Industry Exhibition, “Industry EXPO 2024,” is scheduled to run from June 19th to 23rd at the BMICH, with President Ranil Wickremesinghe attending the opening ceremony.
Featuring over 1300 booths representing 25 industries in Sri Lanka, this exhibition offers an insight into the forefront of innovation and technology across various sectors. Notably, a dedicated space for innovation has been incorporated into the event, showcasing cutting-edge advancements. With an expected significant turnout, the exhibition aims to host numerous foreign buyers and institutions, including the Ministry of Foreign Affairs, Foreign Embassies, and the Department of Commerce, facilitating international collaboration and business opportunities.
In conjunction with the upcoming exhibition, a National Vehicle Parade involving over 25 vehicle assembly companies nationwide is slated to commence from Galle Face ground on June 18th, concluding at the BMICH premises. Simultaneously, the Industry Green Awards Ceremony, recognising sustainable green industries, will coincide with the inaugural international conference promoting a culture of sustainable industrial development, known as the Green Industry Initiative for Sustainable Industrial Development, on June 20th and 21st at the BMICH.
Throughout the five-day duration of the exhibition, a plethora of programmes such as the School Industry Entrepreneurship Circles, IDB Digital One Stop, Ceylon Plaza, Industry Credit Scheme, SEDA Startup, and SEDA Scaleup, facilitated by the Industrial Development Board (IDB), will be actively conducted.
Furthermore, it is imperative to acknowledge the collaborative effort of ministries, public and private institutions in contributing to and participating in this exhibition. Such collective engagement serves as a catalyst for the establishment of manufacturing industries, fostering the exploration of updated industry knowledge, novel business prospects, as well as attracting new investors and investment opportunities globally.
May 07, Colombo (LNW): The government has granted approval for the establishment of 484 megawatt wind power stations in Mannar and Pooneryn.
This decision follows the signing of a memorandum of understanding (MoU) with Adani Green Energy Limited of India.
Consequent to this development, a negotiation committee has been appointed by the Cabinet to assess the project proposal submitted by the company.
Upon the committee’s recommendations, the Cabinet has endorsed the resolution put forth by the Minister of Power and Energy.
The resolution acknowledges the final price of US$ 8.26 per kilowatt for the electricity generated under the proposed project, with payment to be made in Sri Lankan Rupees based on the prevailing foreign exchange rate.
Adani Green Energy SL Limited will be awarded the tender for the wind power project for a duration of 20 years.
