March 08, Colombo (LNW): Foreign Affairs Minister Ali Sabry addressed Parliament on the 7th, announcing the commencement of a revolutionary government program that involves releasing a portion of state land for cultivation purposes. Stressing the government’s commitment to protecting farmers, he participated in the debate on the adjournment motion focusing on mitigating the damage inflicted on the agriculture industry by wild animals.

Minister Sabry highlighted the significant role farmers play in the country, constituting 27 percent of the workforce, yet only eight percent contribute to the national economy. He expressed concern over the insufficient income received by hardworking farmers, emphasizing the need to address the underlying issues in the agricultural sector.

Citing the fact that 80 percent of land cultivated by peasants belongs to smallholders, Minister Sabry outlined the government’s groundbreaking initiative to allocate part of the government-owned land to farmers. This move aims to empower farmers and enhance productivity, particularly in the face of challenges posed by wild animals and insect-related damage affecting crops like maize and coconut.

Minister Sabry urged the formulation of a comprehensive program to modernize the agriculture industry, emphasizing the importance of introducing modern technology and new crop varieties. Drawing a parallel with Vietnam’s success in rice exports, he underscored the impact of granting land rights to Vietnamese peasants and emphasized the need for a similar approach in Sri Lanka.

The Minister emphasized the government’s responsibility to train farmers in innovative crop protection methods and advocated for the introduction of an insurance system to compensate farmers for crop damage. Additionally, he stressed the need for regulating fertilizer usage, as excessive application was reported, leading to wastage. Minister Sabry called for a streamlined system in the crop sales process, post-harvest crop protection, and increased attention to food safety measures, ultimately fostering progress in the agriculture sector.

March 08, Colombo (LNW): In commemoration of International Women’s Day, State Minister of Women and Children’s Affairs, Geetha Kumarasinghe, announced the initiation of a dedicated relief program aimed at supporting and guiding women burdened by microfinance loans. Speaking at a press conference held at the Government Information Department to mark the significance of International Women’s Day on the 8th of March, the State Minister highlighted the critical role women play in Sri Lanka, constituting more than half of the country’s population.

Acknowledging the global celebration of Women’s Day, which originated in the USA, Kumarasinghe emphasized the importance of recognizing the contributions of women in Sri Lanka. She underscored the resilience and dedication of Sri Lankan women, particularly those managing households, describing them as the driving force behind the nation’s progress.

The State Minister urged society not to underestimate the significant role played by housewives, who, through their tireless efforts, contribute immensely to family and societal well-being. Kumarasinghe asserted that the burden of managing household affairs and addressing economic challenges often falls on the shoulders of these women.

In addition to State Minister Geetha Kumarasinghe, Women, Child Affairs Ministry Secretary M. Yamuna Perera and Director of the Sri Lanka Women’s Bureau Champa Upasena also participated in the press conference, collectively advocating for a more supportive environment for women in the country.

March 08, Colombo (LNW): Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana inaugurated a state-of-the-art digital customer information screen at the Colombo Fort railway station premises yesterday. The newly commissioned screens aim to provide commuters with real-time information on train arrival and departure times, delays, platform numbers, route maps, and service disruptions.

Two main digital screens, strategically placed near the main entrance of the station, now offer passengers easy access to essential train schedule details. This initiative is a collaborative effort with the involvement of a private advertising agency, emphasizing a public-private partnership for improved passenger services.

Among those present at the commissioning ceremony were Railways General Manager H.M.K.W. Bandara, Deputy General Managers, and Head of Media Hut Kaminda Malaviarachchi. The introduction of these digital information screens marks a significant step towards enhancing the overall commuter experience at the Colombo Fort railway station.

March 06, Colombo (LNW): Showers or thundershowers may occur at a few places in Western and Sabaragamuwa provinces and in Galle and Matara districts in the evening or night.

Mainly dry weather will prevail in the other areas of the island.

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

March 07, Colombo (LNW): Leader of the National People’s Power (NPP), MP Anura Kumara Dissanayake, convened a meeting with diplomats from six countries at the Janatha Vimukthi Peramuna’s (JVP) Head Office in Colombo on March 6.

The meeting saw the participation of esteemed diplomats including Palestinian Ambassador Zuhair M.H. Dar Zaid, Turkish Ambassador R. Demet Sekercioglu, Bangladesh Ambassador Tareq M.D. Ariful Islam, Indonesian Ambassador Dewi Gustina Tobing, Indonesian Consulate General Heru Prayitno, Malaysian High Commissioner Badli Hisham Bin Adam, and Acting Maldivian Ambassador Fathimath Ghina.

Representatives from the NPP Executive Committee, namely Bimal Ratnayake, Dr. Nalinda Jayatissa, Dr. Rizwi Salley, and Muditha Nanayakkara, engaged in discussions with the foreign diplomats.

The agenda encompassed briefings on the NPP’s policies and ongoing activities, alongside substantive deliberations on Sri Lanka’s prevailing political and economic landscape.

The NPP expressed a sincere interest in fostering mutually beneficial collaborations with the diplomatic representatives and underscored its preparedness to engage in cooperative agreements with the respective nations.

By: Staff Writer

March 07, Colombo (LNW): The Government is enhancing the policy framework governing Customs Bonded Warehouses amid concerns of inefficiency, corruption and drop in revenue collection, while reviewing relevant laws, regulations, administrative guidelines and standard operating procedures.

Artificial Intelligence (AI) technology will be introduced ensuring the minimising of human intervention in import and export procedures while establishing one clearing centre in collaboration with the Ports and Sri Lanka Customs.

The department has been directed to strengthen IT-based tax administration, and improve capacity development, including a revenue administration diagnostic assessment in addition to the transparency of audit.

In order to prevent mis-invoicing in imports and exports trade, Sri Lanka Customs is set to fully digitalise trade processes, he said adding that it will prevent under- and over-invoicing of businessmen.

A Common Container Yard is expected to be built in Kerawalapitiya to inspect all containers with the participation of the Sri Lanka Customs by integrating four yards of the department located in various places such as Ingurukade and Orugodawatta.

Recognising the need to adapt to evolving warehousing technologies and enhance competitiveness in the supply chain process the Cabinet of Ministers approved enhancing the policy framework governing Customs Bonded Warehouses.

The approved proposal empowers the ‘Revised and Updated Policy Framework for Appointing Common Bonded Warehouses’ laid down under section 69 of the Customs Ordinance.

A Customs Bonded Warehouse serves as a crucial storage facility, ensuring the safety and quality of imported goods before the payment of applicable taxes and their transportation. Governed by section 69 of the Customs Ordinance (Chapter 235), the Finance Minister, upon the recommendation of the Director-General of Customs, has the authority to appoint such warehouses.

In response to changing industry dynamics and technological advancements in warehousing, it has been acknowledged that the mandatory minimum space requirements for common customs bonded warehouses need to be revised.

The proposal put forth by President Ranil Wickremesinghe, in his capacity as the Finance, Economic Stabilisation and National Policies was approved by the Cabinet of Ministers at its meeting held on Monday.

Sri Lanka’s then finance minister Mangala Samaraweera proposed to lift the requirement for a minimum 50,000 square feet (about 230 x 220 feet) to set up a private bonded warehouse, following requests from industry.

Sri Lanka has proposed the setting up of bonded warehouses in a budget proposal in 2016, but businesses had said the size should be decided by the requirements of the firm.

The late Minister Samaraweera had proposed that the discretion of setting the size should be given to the director general of customs. The cabinet of ministers had cleared the proposal.

By: Staff Writer

March 07, Colombo (LNW): The negotiating team of the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) and industry experts recently discussed the FTA and its impact on Sri Lanka’s economic growth, at a knowledge session organised by The Ceylon Chamber of Commerce.

Duminda Hulangamuwa, Chairman of the Ceylon Chamber, while stressing the importance of facing global market competitiveness, emphasised that Sri Lanka needs to explore and leverage agreements strategically to be competitive with countries like Vietnam, Thailand, Malaysia, China, and Singapore.

He asserted that sustained international trade growth can lead to an 8 to 9 percent economic growth rate, and the nation cannot rely on 2 to 3 percent growth.

Chief Negotiator, K J Weerasinghe, on the other hand, underscored the need to align with the government’s vision for global market access and attracting investments.

He outlined a three-pillar strategy focusing on protecting and promoting existing trade partnerships with the US and European Union, expanding market access in South Asia with countries like Bangladesh, Pakistan, China, and India, and increasing market access in East Asia with Thailand, Malaysia, and Singapore.

Drawing similarities with Sri Lanka’s Free Trade Agreements with Thailand and Singapore, Ms. Renuka Weerakoon, DG, BOI and Head of Investment Chapter, highlighted the comprehensiveness of these FTAs, covering areas such as trade facilitation, services, proceedings, Sanitary and PhytoSanitary (SPS), Technical Barriers to Trade (TBT), investment, trade remedies and intellectual property.

She emphasized that FTAs are crucial for Sri Lanka, given its small domestic market, and can lead to increased market access, Foreign Direct Investment (FDI), job opportunities, foreign exchange, innovation, technology transfer, and international trade networks.

Deshal de Mel, Advisor, Ministry of Finance and Head of Trade in Services Chapter, emphasised that the SLTFTA is part of a broader strategy to drive qualitative changes in Sri Lanka’s economic growth.

He highlighted the importance of FTAs in the economic recovery strategy and the need for Sri Lanka to integrate into global and regional value chains.

He observed that the non-tradable sector has dominated Sri Lanka’s economic growth, and moving forward, the country needs to move into non-debt- creating avenues and diversifying its exports beyond traditional products.

He noted that FTAs provide open access to regional trade value chains and create opportunities to participate in regional trade agreements to drive sustainable economic growth.

Dr. Asanka Wijesinghe, Research Fellow, Institute of Policy Studies (IPS), highlighted research findings from the IPS which indicate that the Sri Lanka-Thailand FTA could increase Sri Lanka’s exports by 38% through tariff elimination.

He emphasised the importance of Sri Lanka focusing on manufacturing, apparel, rubber products, and food products under FTAs, as these sectors have high tariffs in Thailand, offering significant export potential.