Colombo (LNW): UN Resident Coordinator Marc-André Franche met with Minister of Labour and Foreign Employment Manusha Nanayakkara on October 30th at the Ministry of Labour and Foreign Employment.
During their meeting, Minister Nanayakkara and the UN Resident Coordinator discussed the government’s efforts to provide support for migrant workers.
The Minister explained to the UN Resident Coordinator the government’s plans to digitalise the entire foreign employment service centre as part of their anti-human trafficking initiatives.
Minister Nanayakkara also briefed the Resident Coordinator about the recently launched Sri Lanka National Policy and Action Plan on Migration for Employment (2023-2027), which received support from the International Labour Organisation.
The Minister informed UN Resident Coordinator Marc-André Franche about the new Labour Bill and its associated benefits. He highlighted the Ministry’s regular reviews of progress in key result areas set by the Ministry to achieve government goals.
During the meeting, the Minister also mentioned that the ‘Garu Saru’ initiative introduced by the Ministry of Labour and Foreign Employment to enhance working conditions for informal sector employees will be launched on November 1st with the support of the International Labour Organisation.
I had a fruitful meeting today with @UNSriLanka Resident Coordinator Marc-André Franche. We discussed the government's initiatives to enhance facilities for migrant workers, our efforts in combating human trafficking, the new Labor Bill, and forthcoming developments in detail. pic.twitter.com/rMaXIgUjB4
Colombo (LNW): People’s Bank has joined hands with the Sri Lanka Export Development Board (EDB) as the Platinum Sponsor for the prestigious ‘Presidential Export Awards 2023’, highlighting their commitment to promoting excellence in exports.
This partnership was formalised when Mr. Sujeewa Rajapaksa, Chairman of People’s Bank, symbolically presented a patronage cheque to Dr. Kingsley Bernard, Chairman/CEO of the Export Development Board.
The event took place at the People’s Bank headquarters on October 27, 2023.
The Presidential Export Awards (PEA), renowned as the highest recognition for exporters in Sri Lanka, will mark its 25th anniversary on Thursday, November 23rd, at the Bandaranaike Memorial International Conference Hall (BMICH).
The awards ceremony will celebrate the outstanding contributions of the country’s top exporters to the export sector and economic progress for the financial years 2021/22 and 2022/23. The awards will be presented in two main categories: overall awards and Products & Services Sector awards for each financial year, by President Ranil Wickremesinghe of Sri Lanka.
People’s Bank’s corporate sponsorship demonstrates their dedication to enhancing Sri Lanka’s exports and is expected to contribute to the success of the PEA 2023.
The Presidential Export Awards 2023 is eagerly anticipated by the exporter community and is organised by EDB under the guidance and direction of State Minister of Investment Promotion Dilum Amunugama, and Mr. M. M. Nayeemudeen, Secretary to the Ministry of Investment Promotion.
Colombo (LNW): The Court of Appeal today (31) has rejected a writ petition that challenged State Minister of Tourism Diana Gamage’s parliamentary seat.
The petition had sought to declare that Diana Gamage was ineligible to be a Member of Parliament due to her British citizenship.
The petition was filed by civil activist Oshala Herath, and it has been dismissed by a majority decision of the three-judge bench.
Colombo (LNW): The Sri Lankan Rupee (LKR) indicates another slight depreciation against the US Dollar today (31) compared to yesterday, as per the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has increased to Rs. 322.17 from Rs. 321.70, and the selling price to Rs. 332.50 from Rs. 332.49.
The Sri Lankan Rupee, meanwhile has also depreciated against several other foreign currencies, including Gulf currencies.
Colombo (LNW): Travel bans have been imposed on the owner of a pharmaceutical company responsible for importing substandard Immune Globulin vaccines, along with two senior state health officials who aided in the importation of substandard medicines to Sri Lanka.
The Maligakanda Magistrate’s Court enacted these bans on the three individuals.
The suspects include Sudath Janaka Fernando, also known as ‘Aruna Deepthi’, who owns the pharmaceutical company, Dr. Vijith Gunasekera, the Chief Executive Officer of the National Medicines Regulatory Authority (NMRA), and Dr. Kapila Wickramanayake, the Director of Supply at the Ministry of Health.
The Criminal Investigations Department (CID) launched an inquiry into allegations that the pharmaceutical firm fraudulently imported 22,500 vials of substandard Immune Globulin vaccines using forged documents, with the complicity of the two senior state officials.
The investigations revealed a financial fraud of Rs. 130 million in connection with the importation of the substandard medicine.
The CID informed the Maligakanda Court that the suspects were attempting to leave the country, prompting the court to impose overseas travel restrictions on them.
The Magistrate also instructed the CID to apprehend the suspects and present them in court by November 16, 2023.
Colombo (LNW): The Sri Lankan Rupee (LKR) indicates another slight depreciation against the US Dollar at leading commercial banks in Sri Lanka today (31) in comparison to yesterday.
At Peoples Bank, the buying price of the US Dollar has increased to Rs. 320.91 from Rs. 320.67, and the selling price to Rs. 332.67 from Rs. 332.41.
At Commercial Bank, the buying price of the US Dollar has increased to 321.15 from Rs. 320.49, but the selling price remains unchanged at Rs. 331.50.
At Sampath Bank, the buying and selling prices of the US Dollar remain unchanged at Rs. 322 and Rs. 332, respectively.
Colombo (LNW): The Ministry ports and aviation is planning to implement a new model for the Colombo Port East Container Terminal, making it a more private-sector-oriented terminal, with the sate official presence as far as the administration and other things are concerned. Minister Nimal Siripala De Silva said.
“With the anticipated growth in the maritime sector, we may soon need additional terminals. Our ambitious North Port Development Project envisions four to six new terminals, all under private sector management, to attract further investment,” he added.
Moreover, the ministry recognizes the need for a Port Community System (PCS) in the Port of Colombo. The government is taking steps to address this, and expressions of interest from renowned organizations will be sought shortly.
He said “Additionally, we are aware of certain administrative issues within our ports, and we are committed to rectifying these concerns. Automation and closer collaboration with neighboring countries, such as Bangladesh and India, are essential for the efficient movement of cargo through Sri Lanka’s ports.”
He said that politically, we are actively fostering relationships with key players in the region to attract more shipping lines and container ships to Sri Lanka and through this the country aims to establish Sri Lanka as a strong hub in the Indian Ocean for transshipment.
Sri Lanka is looking at attracting investment for green hydrogen and green ammonia production in the Port of Colombo, Minister of Aviation and Shipping Nimal Siripala De Silva said.
“We have already reached out to institutions for expertise in this regard,” he said at the 26th AGM of the Sri Lanka Association of Vessel Operators (SLAVO) in Colombo last week and also commended their role in the industry. The Minister also said that the landscape of the maritime industry was rapidly evolving, with a strong emphasis on environmentally friendly practices.
Vessel owners worldwide are increasingly investing in green technology to reduce emissions. Consequently, our ports must be well-equipped to accommodate these eco-friendly vessels. Discussions in this regard have centered on green hydrogen, green ammonia, and enhanced connectivity.
While Sri Lanka’s economy may not be as extensive as others, we must align with these global trends and deliver accordingly. Furthermore, pragmatic policies are essential to attract foreign and private investors for port development. Even in countries with strong economies like India, the private sector and foreign investments play a pivotal role. Therefore, our government is committed to facilitating and supporting private sector growth.
“To remain competitive globally, we must also focus on nurturing a new generation of professionals in the maritime sector. While those present here today have accumulated vast experience, it is crucial to encourage young individuals to embrace this industry. Our educational institutions must produce professionals who can compete on a global scale,” he added.
Colombo (LNW): Electricity sector reforms bill aimed at restructuring the Ceylon enabling the power and energy ministry to enact it with the parliament endorsement, Power and Energy Minister Kanchana Wijesekera disclosed.
Minister Wijesekera informed yesterday that the proposed Electricity Sector Reforms Bill for the observations was submitted for the approval of the Cabinet of Ministers to open up the electricity industry for new entrants to offer competitive prices.
“The proposed reforms will unbundle the services of CEB, improve efficiency, transparency, competition and allow private sector participation in the electricity industry,” he announced via ‘X’ yesterday.
Wijesekera said the Bill was prepared over the past 10 months with the assistance of energy and legal experts from development agencies and industry stakeholders.
Following the incorporation of the Attorney General Department’s recommended revisions by the Legal Draftsman, the Minister stated that the Bill received the AG’s approval last week.
He noted that once the Cabinet of Ministers approves the Bill, it will be gazetted and tabled in the Parliament for approval.
The Sri Lankan Government intends to restructure the Ceylon Electricity Board (CEB) soon instead of running all the related entities under one institution and will unbundle all related institutions separately, he disclosed.
“Under the CEB restructuring process, the management structure of the CEB will be undergoing reforms and this would also enable renewable energy generation to be promoted in the country with the support of government and private and public partnerships,” he said.
Currently loss-making Ceylon Electricity Board (CEB) is to undergo a systematic restructuring process by unbundling it into eight separate corporate entities for power generation, transmission, and distribution, a recent CEB directors board paper on administration specified.
The board paper clearly indicated that it plans to reduce massive losses of the CEB by transforming it into efficient profit making institution by setting up these entities under eight new general managers.
These entities will undertake functions of the CEB relating to hydro electricity, thermal electricity, coal power and non renewable power generation, distribution, and other activities of CEB as well as Lanka Electricity Company (LECO).
The CEB trade unions were protesting against the restructuring process that is about to begin and the CEB Engineers’ Union is divided over the issue.
This state owned enterprise with its large staff of 23,000 with over 1,400 professionals are planning to continue their agitation against the government’s initiatives of entering into power deals including the controversial Yugadanavi LNG power project and attempts to privatise the institution under the cover of restructuring, he added.
The unbundling will also provide an opportunity for the government to get rid of the majority of staff giving them a golden hand shake, the trade union leader alleged.
Colombo (LNW): Two World Bank high officials’ present visit to Sri Lanka will pave the way towards revitalizing the ongoing Climate Smart Irrigated Agriculture Project (CSIAP), the President’s Media Division (PMD) said in a statement.
The Managing Director for Operations of the World Bank, Ms. Anna Bjerde and Martin Raiser, the Regional Vice-President of the World Bank for South Asia, conducted a field visit to the Climate Smart Farmer Training School in Thirappane on Sunday (29).
The purpose of their visit was to assess the progress of the Climate Smart Irrigated Agriculture Project (CSIAP).
Ms. Anna Bjerde made her first visit to the country in response to a request made by President Ranil Wickremesinghe during his special meeting with the President of the World Bank. Ajay Banga.
The CSIAP has undertaken an ambitious initiative to establish a comprehensive Farmer Training School known as “Deshaguna Suhuru Govi Puhunu Pasala” in Mannakkulama Village, Thirappane, in the Anuradhapura District.
This Farmer Training School will play a pivotal role in training and equipping farmers with hands-on experience in Climate Smart Agriculture (CSA) practices and cutting-edge agricultural technologies.
This visit by Ms. Anna Bjerde and Martin Raiser, the Vice President for the South Asia Region and a delegation from the World Bank, Asia Development Bank, JICA and USAID underscores the World Bank’s and other partners’ commitment to supporting initiatives that aim to improve the agricultural sector and enhance climate resilience in Sri Lanka’s dry zone.
Following her visit to the Climate Smart Farmer Training School (FTS) in Thirappane, Ms. Anna Bjerde and the delegation of officials visited the Ambul Banana Cluster in Rajanganaya.
This project supports smallholder farmer clusters in the project districts to produce high value agricultural products in order to improve the farmer household income significantly as well as to increase the export earnings of the country, the statement added.
Expressing her views at the event, Ms. Anna Bjerde, Managing Director for Operations of the World Bank, highlighted the changing weather patterns caused by climate change and how this school is equipping farmers with techniques to enhance productivity and resilience in crop production.
Ms. Bjerde also mentioned three major benefits of this project: the transition to renewable energy, particularly solar power; increased and stable livelihoods, enabling children to access education, including higher education; and diversified and sustainable crop yields, ensuring better nutrition.
She expressed pride in the World Bank’s support for this project and emphasized the need for more initiatives like this to address the challenges posed by climate change, both through mitigation and adaptation efforts.
Colombo (LNW): Canwill Holdings parent company of Sinolanka one of the present majority stake holders of Grand Hyatt Colombo (GHC)” a 47 level skyscraper that was to house an iconic 5 star luxury class hotel and serviced apartments is on its way towards divestiture.
Expressions of interest have been called for for divestment of Grand Hyatt Colombo marred with corruption and controversies during the previous Mahinda Rajapaksa regime.
This an uncompleted building even after spending a staggering Rs. 21.6 billion is still to be completed. , official sources said.
The Government of Sri Lanka (GoSL) intends to divest all or part of equity shareholding in Canwill, the parent company to Sinolanka Hotels & Spa (Pvt) Ltd (Sinolanka) and Helanco Hotels & Spa (Pvt) Ltd (Helanco).
Sinolanka the owner of an under-construction top tier landmark hospitality asset in er Colombo, built to Grand Hyatt specks since Sinolanka has entered into a hotel management agreement with Hyatt International- Southwest Asia Ltd.
The property features an impressive 47-story structure with 458 rooms and an additional 100 serviced apartments, all situated on 2.32 acres of prime oceanfront real estate. The total built-up area encompasses a vast 1,340,562 square feet.
Helanco holds 9.42 acres of beachfront leasehold land in the southern city of Hambantota.
GoSL will implement this divestiture via its State-Owned Enterprise Restructuring Unit and Deloitte Touche Tohmatsu India LLP (DTTILLP) has been appointed as the Transaction Advisor. The divestiture will be completed through a two-stage competitive bidding process.
The total GHC project cost has been estimated at approximately US $ 302 million (Rs. 45.3 billion) excluding interest cost (if) and CESS and NBT.
The physical progress of the project as it stands now is around 61.67 percent and the expected date of completion would be uncertain as the construction work has been halted owing to, ongoing legal issues and shortage of funds.
The cost for the completion of a room at this hotel was Rs 82 million whereas a similar room of Shangri-La hotel had been completed at a cost of Rs 42 million, a senior treasury official said.
The then good governess government had earlier planned to operate the Grand Hyatt project e as a five-star hotel with 458 rooms and 100 serviced apartments, once completed.
The management contract entered into with the Hyatt Group expires 20 years after the start of operation.
In an attempt to restructure the project ownership of Canwill Holdings Ltd. and divest the Government stake in the company, action has been taken to find a suitable investor by calling for proposals on 2018.
However restructuring process has to be suspended on the directions of 52 day unconstitutional administration headed by Mahinda Rajapaksa in the later part of 2018.
