March 06, Colombo (LNW): On March 6, the Sri Lankan Rupee maintained its stability against the US Dollar in commercial banks across the country, echoing the rates observed on Tuesday.

Peoples Bank reported slight reductions in the buying and selling rates of the US Dollar, shifting from Rs. 302.39 to Rs. 302.19 for buying and from Rs. 312.93 to Rs. 312.72 for selling.

Commercial Bank, on the other hand, witnessed no change in the buying rate of the US Dollar, remaining steady at Rs. 301.89. Similarly, the selling rate stood firm at Rs. 311.75.

Sampath Bank echoed this trend, with both the buying and selling rates of the US Dollar maintaining stability at Rs. 303 and Rs. 312, respectively.

March 06, Colombo (LNW): In a special statement delivered in parliament on Wednesday (March 06), President Ranil Wickremesinghe unveiled the government’s plans to reduce the Value-Added Tax (VAT) in the future. The President outlined that as part of this initiative, school exercise books, stationery items, medicines, and medical equipment are slated to be exempted from the VAT.

President Wickremesinghe, who arrived at the parliament complex to update the House on Sri Lanka’s economic recovery progress, acknowledged that imposing VAT was a challenging decision but emphasized that it significantly contributed to boosting state revenue to nearly 11% of the GDP.

During his address, the Head of State highlighted that the growth in state revenue provided assurance to the international community about Sri Lanka’s ability to settle outstanding debts. This, in turn, led to the appreciation of the rupee and a subsequent reduction in prices for imported goods, including fuel.

President Wickremesinghe expressed optimism that if the nation continues on this trajectory successfully, the economy will further stabilize by the end of the year. Additionally, he disclosed the government’s intentions to expand the tax net, citing the measures taken to widen the tax base. As a result, Sri Lanka has witnessed a rapid growth in taxpayer registration, with the total number of tax files surpassing 1 million by the end of 2023.

March 06, Colombo (LNW): In response to the recent revelation of leaked question papers in key subjects, the Department of Education in the Western Province has announced the re-conducting of final examinations for grades 10 and 11, commencing on Wednesday (06). The decision follows the suspension of exams in Science, History, and Mathematics due to the security breach.

New sets of question papers will be provided for the affected subjects, and the rescheduled exams will take place on the 7th, 8th, 11th, and 12th of March. The zonal education offices will distribute the revised question papers to school principals.

Simultaneously, investigations are underway, led by the Western Provincial Education Ministry and the Criminal Investigation Department, to identify the source of the leaked papers.

In a parallel development, the Sabaragamuwa Provincial Ministry of Education has taken proactive measures. The Grade 10 English subject exam, initially postponed due to a leaked English question paper, will now proceed today. Students will receive a completely new set of questions, ensuring the integrity of the examination process.

March 06, Colombo (LNW): Attorney Shantha Niriella, the Chairman of the Consumer Affairs Authority, along with the entire Board of Directors, has been served with a resignation notice. The directive came from Minister of Trade, Commerce, and Food Security, Nalin Fernando.

The call for resignation signals a notable change in the leadership of the Consumer Affairs Authority, with a new Board of Directors expected to be appointed shortly. The reasons behind this decision and the potential impact on the organization’s future actions remain to be seen as the Ministry prepares for a transition in leadership.

1. Ranil Wickremesinghe’s proposal to empower provincial governors in refusing the use of school premises for political purposes has been approved by the Cabinet of Ministers, as announced by Minister Bandula Gunawardena.
2. Opposition and SJB leader Sajith Premadasa questioned the government’s intent to quickly pass the Social Security Contribution Levy (Amendment) Bill and the Value Added Tax (Amendment) Bill in Parliament without the Attorney General’s recommendations. Premadasa highlighted that these bills were included in the Order Book without the necessary input from the Attorney General.
3. The no-confidence motion against Speaker Mahinda Yapa Abeywardena was handed over to the Deputy General Secretary of Parliament. It was signed by 44 parliamentarians including Opposition Leader Sajith Premadasa, Chief Opposition Whip Lakshman Kiriella and MPs Prof. G.L. Peiris, Rohini Kumari Wijeratne, Hesha Vithanage, Mano Ganesan, Rishad Bathiudeen, M.A. Sumanthiran, S.M. Marikkar, Ranjith Madduma Bandara, Thalatha Atukorale, Vijitha Herath and Chandima Weerakkody.
4. Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva has announced a 45-day extension for the submission of bids for SriLankan Airlines. During a media briefing, he disclosed that an additional 45 days would be allocated to invite bids before the selection of an investor for the national carrier.
5. Cabinet approval has been obtained to extend the validity period of the scheme allowing Sri Lankans working abroad to import fully electric vehicles. The initial approval for this scheme, granted in August 2022, facilitates the issuance of licenses to overseas Sri Lankans for importing electric vehicles through formal bank transfers of foreign remittances at licensed banks in Sri Lanka.
6. Sri Lanka and India are working on an estimated USD 1.2 billion undersea transmission line that will link the island nation’s power grind with that of India to provide energy security to the country. The proposal is to link Sri Lanka’s north central town of Anuradhapura and Chennai, the capital of Tamil Nadu state in India through a direct power line. After a 130km overland transmission line in India, an undersea line (via a submarine cable) will emerge at Thiruketheeswaram in Mannar in northeast Sri Lanka.
7. The Cabinet of Ministers has approved a proposal to develop Galle Harbour for commercial and recreational purposes. Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva submitted the proposal, which aims to seek aspirations and proposals for selecting an investor to undertake the development project for Galle Harbour.
8. Sri Lanka’s earnings from merchandise exports in January 2024 amounted to USD 970.7 million, marking a decline of 0.77% as opposed to the corresponding month last year, according to the Export Development Board (EDB).
9. The Anti-Corruption Act No. 09 of 2023, through Section 80, expands the scope of asset and liability disclosure beyond the requirements outlined in the amended Declaration of Assets and Liabilities Law No. 01 of 1975 by Act No. 74 of 1988. This new provision mandates additional disclosure by various officials and categories of individuals, broadening the coverage for transparency and accountability measures.
10. The Sri Lanka Cricket team has commenced a new initiative which recognizes on-field performances of cricketers. According to SLC, as part of a new initiative, Charith Asalanka was awarded the ‘Orange Cap and the Coin’ by the team for his excellent fielding efforts during yesterday’s game against Bangladesh.

March 06, Colombo (LNW): The International Gita Mahotsav, spanning four days, took place in Colombo from Friday to Monday (1 to 4). The event marked the fifth edition of this international celebration, organized for the first time in Sri Lanka by the Kurukshetra Development Board of the Government of Haryana (KDB), India. The initiative was a collaboration between Sri Lanka’s Buddhasasana, Religious and Cultural Affairs Ministry, and the Swami Vivekananda Cultural Centre, the cultural arm of the High Commission of India in Colombo, along with approximately 30 religious and social organizations in Sri Lanka.

A key moment of the Mahotsav was the presentation of a copy of the Shrimad Bhagavad Gita to Speaker Mahinda Yapa Abeywardena. Noteworthy events included the Sadhbhavna Yatra from Nelum Pokuna to Vihara Mahadevi Park in Colombo on Sunday (3), featuring nearly a thousand artists displaying local performing arts, accompanied by floats from ISKCON, Ramakrishna Mission, and Mayurapathy Sribhadrakali Temple. Prime Minister Dinesh Gunawardena, Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana, and Buddhasasana, Religious, and Cultural Affairs Minister Vidura Wickramanayaka, along with High Commissioner Santosh Jha and the Indian delegation, witnessed the Yatra.

The second day of the Mahotsav featured an International Discourse on Gita and several seminars by experts exploring the theme of ‘Gita – An Epitome of Peace, Fraternity, and Harmony.’ The panel for the International Gita Discourse included remarks from Minister Vidura Wickramanayaka, High Commissioner Santosh Jha, Swami Gurusharanand, Gita Manishi Swami Gyanand, Member Secretary KDB Sh. Vikas Gupta, and Prof. Asanga Tilakaratne. The discussions highlighted the universality and timelessness of Gita’s message.

This edition of the International Gita Mahotsav in Sri Lanka marked the largest international gathering to date, following previous editions in Australia (2023), Canada (2022), UK (2019), and Mauritius (2019). The Kurukshetra Development Board has been organizing the Gita Mahotsav within India since 1989 in the city of Kurukshetra, where the ‘Bhagwad Gita’ is believed to have been delivered by Lord Krishna to Arjuna as part of the epic Mahabharat.

March 06, Colombo (LNW): The Commission for Truth, Unity, and Reconciliation (CTUR) takes a significant step toward fostering national healing, justice, and unity in Sri Lanka. Recent dialogues held in Colombo aimed to provide clarity on the draft Bill related to the proposed CTUR.

The sessions brought together a diverse assembly of individuals and stakeholders, including representatives from civil society organizations and religious institutions represented by the Himalayan Group. This inclusive approach sought unique perspectives and expertise. Another session included senior academics, journalists, and representatives of civil society organizations, offering a comprehensive range of insights and expertise.

The envisioned CTUR in Sri Lanka is poised to be an autonomous truth-seeking body, established through legislative channels via an Act of Parliament. With a specific mandate to uncover truths regarding alleged violations during the country’s conflict in the Northern and Eastern Provinces from 1983 to 2009, the CTUR aims to be an impartial entity. It will systematically gather victim narratives, document instances of violence, acknowledge past injustices, and formulate recommendations to prevent future occurrences, contributing to the nation’s healing process post-conflict.

The recent dialogues focused on the draft legislation for establishing an independent commission, complementing the efforts of the Interim Secretariat for Truth and Reconciliation Mechanism (ISTRM). Key provisions of the Bill emphasize the commission’s mandate to investigate and offer recommendations regarding human rights violations during the conflict period and its aftermath.

Stakeholder engagement strategies, including field visits and consultation forums, were discussed, along with insights into the drafting process of the proposed legislation. The ISTRM highlighted the extensive consultations conducted by the Consultation Task Force from 2016 to 2018 and ongoing consultations with stakeholders.

Recognizing the need for a coordinating mechanism within the government for effective reconciliation and justice, discussions touched upon the media’s role in shaping public opinion and the importance of responsible and neutral reporting. The composition of the commissions, the inclusion of diverse expertise, and the engagement of civil society and religious leaders in reconciliation efforts were also emphasized.

The ISTRM clarified the commission’s jurisdictional scope, the appointment process for commissioners, and the roles of the advisory panel and monitoring committee. Emphasizing objectives such as promoting truth-telling, restoring victims’ dignity, and preventing future conflicts, participants stressed the importance of stakeholder engagement and invited constructive feedback for the draft legislation.

Numerous ideas and suggestions gathered from these consultations have already been incorporated into the draft bill. Following an extensive consultation process, the draft Bill is set to be submitted to Parliament for further consideration. Prominent attendees included Ven. Kalupahana Piyarathana Thera, Dr. Jehan Perera, Dr. Joe William, Dr. Dayani Panagoda, and Visaka Dharmadasa, showcasing widespread interest and engagement in the reconciliation process. The discussion from the ISTRM was led by Director General Dr. Asanga Gunawansa, PC, aided by the Head of Policy, Dr. C. Y. Thangarajah.

March 06, Colombo (LNW):The closure of the request for proposals regarding the divestment of SriLankan Airlines, initially scheduled for March 5, has been extended by an additional 45 days, as announced by Shipping and Aviation Minister Nimal Siripala De Silva.

The extension is attributed to concerns over delays faced by tourists and passengers, coupled with the airline’s substantial debt, reaching approximately USD 1.2 billion. These factors may pose challenges for potential investors considering taking over the airline.

Minister De Silva highlighted the difficulties faced by the state in maintaining the airline, emphasizing the jeopardy of over 6,000 jobs if the airline were to shut down. In response, President Ranil Wickremesinghe has proposed injecting over USD 500 million into the airline, aimed at reducing its debt by almost half.

The proposed financial injection involves absorbing the airline’s aviation fuel bill, settling dues owed to state banks (Bank of Ceylon and People’s Bank), and addressing obligations to the Treasury. Additionally, cost-cutting measures, such as restricting foreign tours and holding bi-weekly reviews to control salary increases, will be implemented.

Minister De Silva explained that these measures, combined with reinvesting government capital for urgent maintenance, aim to make the airline more appealing to potential investors. The anticipated proceeds from the divestment, exceeding US$ 500 million, will be utilized to repay state banks, settle outstanding debts, and prioritize employee welfare.

By divesting the airline, the government aims to ensure that the burden does not fall on the taxpayer, drawing attention to the contrast with the past privatization to Emirates airline. During that period, the airline operated profitably with no job cuts, but mismanagement and corruption after government takeover led to substantial debt, necessitating regular taxpayer-funded support.

March 06, Colombo (LNW): The Cabinet of Ministers has granted approval to Education Minister Susil Premajayantha’s proposal to raise the budget for a student’s meal in the ‘School Food Programme’ to Rs. 110. Furthermore, the program is set to be extended to cover 170 days in 2024, specifically targeting students in the primary sections.

The ‘School Food Programme’ currently operates in 7,902 schools across 100 educational zones, benefiting approximately 1.08 million students. The allocated budget for a daily meal for one student is Rs. 85.

A committee of officers investigating the matter has reported that the increased budget to Rs. 110 is necessary due to price fluctuations affecting the cost of providing a nutritious meal for a child. In response to this, the Save the Children organization has pledged support by providing three food items to 200,000 students in 917 selected schools under the ‘School Food Programme’ for the year 2024.