Colombo (LNW): The Sri Lankan Government has renewed the Petroleum Products Licence for the Lanka Indian Oil Company (LIOC).
As a result, the local arm of the Indian Oil Corporation will extend its retail activities in Sri Lanka for an additional 20 years.
The new licence will take effect from January 22, 2024, confirmed LIOC’s Managing Director, Dipak Das, in a communication to the Chief Regulatory Officer of the Colombo Stock Exchange (CSE).
Colombo (LNW): The Ministry of Education has declared the start and end dates for academic terms in 2023 for government and government-approved Sinhala and Tamil medium schools.
The Second term will conclude on Friday, 27 October 2023, while the Third term is set to begin on Wednesday, 01 November 2023.
Colombo (LNW): Orders under the Colombo Port City Economic Commission Act No. 11 of 2021, as detailed in the Gazette Notice 2339/31, have been greenlit by the Parliamentary Committee on Public Finance (CoPF).
A statement from Parliament noted that an extended discussion took place concerning the 10 business firms operating in the Colombo Port City. Focus was placed on the complexities surrounding these companies’ contract signings.
It was revealed that these businesses engaged in contracts via three approaches: prior to the port city’s preparation, during its preparation, and after its completion.
The CoPF Committee highlighted that these agreements weren’t based on a single consistent legal system. Consequently, they advised consulting the Attorney General within a four-week timeframe and then informing the Committee.
The Committee’s Chair, MP Harsha de Silva, stressed the necessity to inspect the constructions executed by these firms in this area.
After a comprehensive debate on the matter, consent was secured during the Committee on Public Finance’s meeting in Parliament on Tuesday (24), presided over by MP Silva.
Furthermore, the Committee was briefed that the Port City Commission had authorised the operation of two cryptocurrency exchanges. In response, the Committee suggested seeking feedback on the matter from the Central Bank.
Colombo (LNW): The Sri Lankan Rupee (LKR) indicates slight appreciation against the US Dollar today (26) in comparison 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 dropped to Rs. 321.39 from Rs. 321.70 and the selling price to Rs. 331.93 from Rs. 332.56.
The Sri Lankan Rupee has also appreciated against several other foreign currencies including Gulf currencies.
Colombo (LNW): A protest campaign was held this (26) afternoon in front of the Port Entrance of Colombo Port, based on several demands, including an action against the increased prices of goods and the government’s interference with the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF).
The protest was held under the slogan “Price of goods high, can’t afford to live, join the fight to increase wages!” and was organised by the Port Trade Union Collective.
Colombo (LNW): US Ambassador to Sri Lanka, Julie Chung, emphasised the importance of equity and transparency in Sri Lanka’s debt restructuring during a meeting with the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe.
Their discussions focused on Sri Lanka’s engagement with the International Monetary Fund (IMF).
Ambassador Chung lauded the Central Bank for reaching a staff-level agreement with the IMF and reiterated the US’s commitment to fostering a fair and transparent economic environment in Sri Lanka that promotes stability and growth.
“Today, at my meeting with Central Bank Governor I extended my congratulations on the IMF’s staff-level agreement, marking progress in Sri Lanka’s effort to secure the second IMF installment. I reinforced the need for fairness in Sri Lanka’s debt restructuring: equal & equitable treatment for all creditors is essential. Transparency from every party involved is crucial. The United States remains committed to an economic landscape that values fairness, transparency, integrity, and inclusivity, ensuring stability & growth in Sri Lanka,” Chung wrote on her X.
Today, at my meeting with @CBSL Governor I extended my congratulations on the IMF’s staff-level agreement, marking progress in Sri Lanka’s effort to secure the second IMF installment. I reinforced the need for fairness in Sri Lanka's debt restructuring: equal & equitable… pic.twitter.com/vwcGm4FGZj
Colombo (LNW): Prime Minister Dinesh Gunawardena has directed officials to ensure that all pending appointments for multi-purpose development assistants are completed by 15th November.
A meeting discussing the efficiency of the Department of Multi-purpose Development Task Force and speeding up the appointment process took place at the Prime Minister’s Office, chaired by the Prime Minister on Wednesday.
The session largely focused on the actions taken by the official committee, which the Cabinet had established to assess government recruitment procedures.
Although directives exist to hire multi-purpose development assistants for primary service roles in the public sector, some ministries have yet to finalise these appointments.
This has resulted in 4,780 multi-purpose development assistant positions remaining unfilled. Highlighting this delay, the Prime Minister emphasised the need to finalise these appointments and allocate them to their respective institutions by the set deadline.
The meeting was attended by State Ministers Janaka Wakkumbura and Ashoka Priyantha, Prime Minister’s Secretary Anura Dissanayake, various ministry secretaries, institutional heads, and other government officials.
Colombo (LNW): The Chinese research vessel ‘Shi Yan 6’ has made its way to the Port of Colombo in Sri Lanka for resupplying purposes, an official from the Ministry of Foreign Affairs confirmed.
The vessel has been permitted to stay at the Colombo Harbor for replenishment until 28th October.
While there were initial expectations for the vessel to engage in research collaborations with Sri Lankan agencies, the spokesperson clarified that only resupplying would take place, with no research activities to be conducted during this time.
The Shi Yan 6, as described by the Chinese state broadcaster CGTN, is a “scientific research vessel” that houses a crew of 60, and it primarily conducts tests in oceanography, marine geology, and marine ecology.
Indian media outlets have suggested that the vessel’s presence in Colombo might intensify India’s apprehensions about China’s expanding influence in the Indian Ocean.
It should also be noted that last year, India expressed concerns when another Chinese research ship, Yuan Wang 5, made a port call in Hambantota, Sri Lanka.
New Delhi classified this vessel as one focusing on spacecraft tracking and potentially involved in espionage activities.
