Colombo (LNW): The National People’s Power (NPP) today (18) conducted a protest march and rally in Nugegoda with the theme “Let’s drive away crazy, corrupt regime that sells country & oppresses masses!”
The event aimed to express opposition to what the organisers perceive as a government that imposes increased taxes, raises commodity prices and electricity bills, sells national resources, and enacts repressive decrees.
Commencing near Delkanda market, the march concluded at the Ananda Samarakoon Open Air Theatre in Nugegoda, where a rally ensued thereafter.
Several prominent leaders of the National People’s Power addressed the gathering, and a substantial turnout was observed during the event.
Colombo (LNW): The Central Bank of Sri Lanka (CBSL) issued a statement on Friday (17) providing clarification on changes to its Governing Board and Monetary Policy Board.
The announcement indicated that President’s Counsel Sanjeeva Jayawardena had resigned as a member of the Governing Board, effective from November 5, 2023. Simultaneously, Dr. Ranee Jayamaha had submitted her resignation as a Monetary Board member, effective since September 12, 2023.
On November 14, the Supreme Court held that former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa, former Finance Minister Basil Rajapaksa, and other senior state officials are responsible for the economic crisis in the country.
The court stated that the Rajapaksa brothers, former CBSL governors Ajith Nivard Cabraal and Prof. W.D. Lakshman, former Finance Secretary S.R. Attygalle, former Presidential Secretary P.B. Jayasundara, and the Monetary Board members of the Central Bank had breached Article 12 (1) of the Constitution, violating public trust in their administration of the economy, leading to the economic crisis.
The CBSL’s statement emphasised that both Dr. Jayamaha and Mr. Jayawardena had submitted their resignations well before the Supreme Court’s final judgment on the fundamental rights petitions related to the economic crisis.
The Governing Body, established under the provisions of the CBSL Act, No.16 of 2023, oversees the administration and management of CBSL’s affairs, determining general policies. According to the law, members of the former Monetary Board continued to serve as members of the Governing Board.
As per this arrangement, Sanjeeva Jayawardena P.C. and A.N. Fonseka, appointed to the Monetary Board on June 29, 2021, and July 27, 2022, respectively, continued their roles in the Governing Board. However, Dr. Ranee Jayamaha, a member of the Monetary Board since July 29, 2020, resigned from the Monetary Board on September 12, 2023, and thus was not a member of the Governing Board. Jayawardena PC, an appointed member who continued on the Governing Board, tendered his resignation effective November 5, 2023.
Colombo (LNW): The Human Rights Commission of Sri Lanka (HRCSL) has provided recommendations to the government concerning the National Women’s Commission Bill, the Gender Equality Bill, and the Women’s Empowerment Bill. The HRCSL suggests:
Consolidating the Gender Equality Bill and the Women’s Empowerment Bill into a single unified Bill.
Housing the Gender Equality Council within the upgraded department replacing the Women’s Bureau.
Considering the designation of the new department as the ‘Department for Gender Equality.’
Strengthening the appointment process for the National Women’s Commission.
Promptly publishing the three Bills to facilitate meaningful public consultation on their content.
These recommendations were conveyed in a letter addressed to President Ranil Wickremesinghe on Friday (17).
Colombo (LNW): India’s Minister of Earth Sciences, Kiren Rijiju, met with Sri Lankan President Ranil Wickremesinghe yesterday (17) to discuss their multifaceted bilateral relationship, a priority under India’s Neighbourhood First Policy, Press Trust of India reported.
Rijiju, in Malé for the inauguration of the Maldives President-elect Mohamed Muizzu, emphasised the significance of enhancing connectivity, trade, and investment, aligning with India’s Neighbourhood First policy.
The Security and Growth for All in the Region (SAGAR) policy underscores India’s commitment to maritime cooperation in the Indian Ocean region.
In response to Sri Lanka’s financial crisis in 2022, India provided substantial assistance of approximately USD 4 billion in line with its Neighbourhood First policy, including credit lines and currency support.
In January, India became the first country to pledge support for Sri Lanka’s financing and debt restructuring through the International Monetary Fund (IMF).
Colombo (LNW): Sri Lankan cricket legend Aravinda de Silva who was recently inducted into the ICC Hall of Fame alongside Diana Edulji and Virender Sehwag returned to Sri Lanka after the prestigious ceremony.
The three icons were inducted as numbers 110, 111, and 112, respectively, into the ICC Hall of Fame, which recognises cricket’s greatest international players.
Silva, known for his pivotal role in Sri Lanka’s 1996 Cricket World Cup triumph, celebrated the achievement upon his return to the Bandaranaike International Airport.
Speaking to the reporters, he expressed delight and optimism about the revival of Sri Lankan cricket. Silva emphasised the need for unity, a long-term action plan, and overcoming ego and blame games for the sport’s improvement.
Regarding the current national team’s struggles, he highlighted the importance of support and proper guidance to overcome challenges, concluding with a call for dialogue between Sri Lanka Cricket and the ICC to resolve the imposed suspension.
Colombo (LNW): Atmospheric conditions over the island are favourable for thunderstorms during the evening and night, the Natural Hazards Early Warning Centre of the Department of Meteorology said in an advisory statement today (18).
Heavy showers above 100 mm are likely to occur at some places in Central, Sabaragamuwa and Uva provinces.
Colombo (LNW): Agriculture and Plantation Industries Minister Mahinda Amaraweera has directed the Smallholder Tea Development Authority and the Tea Development Authority to encourage the adoption of high-density cultivation methods and new technology in tea cultivation to enhance tea leaf yields.
During an observation visit to a successful seven-and-a-half-acre high-density tea plantation in Welipanna Peragaswatta, the Minister emphasised the benefits of this approach, allowing for the planting of 13,000 tea plants per acre and yielding 1500 kg of tea leaves, five times more than traditional methods.
He urged the promotion of this technique to increase income and announced plans to expand such projects in 2024, aligning with the President’s vision for technology integration in agriculture and plantation sectors.
Financial assistance of Rs. 1 million per acre has been provided to growers for these model tea cultivation projects.
Amaraweera’s directive aims to optimise land use and maximise tea yield through innovative methods.
Colombo (LNW): The Sri Lanka Export Development Board (EDB), in collaboration with the Tertiary and Vocational Education Commission (TVEC), has introduced the “Production Associate – Manual Soldering” (NVQ Level 4) National Competency Standard to enhance the Electrical and Electronics sector in Sri Lanka.
This standard, developed as part of the Vocational Education and Training Plan (VET Plan), aims to bridge skill gaps and fulfill training requirements within the industry.
Jointly funded by the EDB and TVEC, with support from the Sri Lanka Electronic Manufacturers and Exporters Association (SLEMEA), the initiative seeks to address the shortage of manual workers and encourage youth participation in the sector.
Initiated in 2012, the VET Plan was upgraded by TVEC to cater to the needs of the Electronic and Electrical manufacturing and export-oriented industry.
The overarching goal is to attract youth to pursue education in this sector, ultimately increasing the pool of skilled professionals to meet industry demands.
This National Competency Standard is expected to contribute to the growth of the Electronic and Electrical Manufacturing sector, fostering sales, profits, and supporting the national export drive.
The collaboration between EDB and TVEC aims to alleviate human resources shortages in technical, craft, and operational occupations at the entry level over the next five years, contributing to the advancement of the Sri Lankan Electronics and Electrical Sector.
Colombo (LNW): Sri Lankan President Ranil Wickremesinghe extended congratulations to the newly inaugurated President of the Maldives, Dr. Mohamed Muizzu.
The two leaders engaged in discussions during President Wickremesinghe’s visit to Malé on Friday (17).
President Muizzu expressed gratitude for the Sri Lankan President’s attendance at the inauguration, emphasising the strong bilateral ties between the Maldives and Sri Lanka.
The leaders delved into the longstanding relations between their countries, exploring avenues to enhance collaboration.
Topics of mutual interest, such as education, multiple visa entry for students under 18, and economic recovery efforts, were discussed during the meeting.
President Wickremesinghe extended an invitation for President Muizzu to make a state visit to Sri Lanka, which was graciously accepted.
Colombo (LNW): The Government has shared the terms of a $ 4.2 billion China debt deal with other creditors — a key sticking point with countries like India — paving the way for more loans from the International Monetary Fund.
This was confirmed by Central Bank Governor Dr. Nandalal Weerasinghe adding that he hopes the official creditors committee, which is led by Japan, India and the Paris Club of nations, will now propose an agreement to restructure Sri Lanka’s debt.
He expects that will allow the IMF to approve a payout of $ 330 million before the end of the year.
The indicative terms agreed with China Exim Bank will provide the necessary fiscal space for Sri Lanka to implement its ambitious reform agenda.
The Government commends the engagement and continuous support of China Exim bank in reaching this agreement in principle, which demonstrates a mutual commitment in line with the goal/objective of restoring public debt sustainability consistent with the IMF-supported program.
The Sri Lankan authorities hope that this landmark achievement will provide an anchor to their ongoing engagement with the Official Creditor Committee and commercial creditors, including the bondholders.
It should also facilitate approval by the IMF Executive Board of the first review of the IMF-supported program in the coming weeks, allowing for the next tranche of IMF financing of about US$334 million to be disbursed.
The Secretary to the Treasury K M Mahinda Siriwardana said “the agreement marked a big step for Sri Lanka as we reach this landmark agreement in principle on debt treatment terms with our largest single creditor.
This agreement constitutes a key milestone in Sri Lanka’s ongoing efforts to foster its economic recovery.”
The Sri Lankan authorities and China Exim bank will actively work on formalizing and implementing the agreed parameters of the debt treatment. with China Exim Bank agreed to provide the necessary fiscal space for Sri Lanka to implement its ambitious reform agenda.
Sri Lanka has also received a debt restructuring proposal from a group of dollar bondholders, which didn’t get the backing of the Government.
Weerasinghe said the authorities continue to engage with commercial lenders, who may also be waiting to assess the debt proposal from bilateral creditors.
