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President stresses importance of collaborating on digitalisation

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Colombo (LNW): In a virtual address during the Leader’s Session of the Second Voice of Global South Summit, President Ranil Wickremesinghe expressed appreciation for the invitation extended by Prime Minister Narendra Modi, acknowledging India’s crucial role in orchestrating the event.

Prime Minister Modi inaugurated the summit, which witnessed the participation of distinguished leaders from various developing nations.

Reflecting on the significance of the inaugural Voice of Global South Summit, President Wickremesinghe praised India’s leadership, highlighting its positive impact in bringing global attention to the priorities of the developing world.

He also noted the successful outcomes of the G20 Summit under India’s presidency, which identified key priorities and diverse issues relevant to developing nations.

During his address at the First Summit, President Wickremesinghe underscored common challenges faced by the Global South, particularly economic issues such as difficulties in debt settlement and limited access to international financial markets.

He emphasised the importance of external assistance from multilateral institutions and developed economies, positioning India as a bridge between developing economies and G20 countries to address these challenges.

Providing an update on Sri Lanka’s economic progress, President Wickremesinghe mentioned the receipt of the first tranche of the IMF’s loan and progress in the Official Creditors’ Committee on Sri Lanka’s bilateral official debt.

He highlighted the complexity of the indebtedness issue, calling for collaboration between creditors and international financial institutions to find sustainable solutions.

Addressing the economic challenges faced by Sri Lanka, President Wickremesinghe presented the budget for the next year to the Sri Lankan Parliament, with a focus on improving the condition of the people, especially the vulnerable, amid the country’s most severe economic crisis in history.

Looking ahead, President Wickremesinghe emphasised the importance of attracting foreign investment and developing connectivity for long-term growth.

The Vision Statement issued with Prime Minister Modi during his visit to India this year focuses on promoting connectivity between the two economies across all sectors and between the people of both countries for mutual benefit.

President Wickremesinghe proposed a special focus on cooperation in digitalisation, recognising India’s leadership in this sphere. He expressed eagerness for advancements in digitalisation to contribute to both growth and entrepreneurship, as well as more effective governance.

The President concluded by expressing his best wishes for the summit’s success in deliberating on these crucial matters.

Restoration at Norochcholai further dragged in

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Colombo (LNW): The ongoing repair of the collapsed second generator of the Norochcholai Coal Power Plant is currently underway, with an estimated two-week timeline for its full operation, the Ceylon Electricity Board disclosed.

An additional two weeks will be required to reintegrate the third generator into the national grid, a CEB spokesperson told media.

Despite the completion of maintenance work on the third generator, it encountered an operational error during the verification process.

Despite these challenges, the CEB assured that the continuous supply of electricity will remain unhindered.

However, it is noteworthy that earlier projections had suggested a three-day completion for the second generator’s repair and an imminent addition of the third generator to the national grid.

Landslide alerts issued across multiple regions: Red alerts for 03 divisions

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Colombo (LNW): A number of divisional secretariats in eight districts have been issued landslide warnings in response to the adverse weather conditions prevailing in the region.

Notably, red landslide alerts have specifically been issued for the Divisional Secretariat Divisions of Kegalle, Aranayaka, and Galigamuwa.

The National Building Research Institute issued the following landslide warning announcement yesterday afternoon (19).

Today’s (Nov 20) weather: Showers, thundershowers to continue further

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By: Isuru Parakrama

Colombo (LNW): Showers or thundershowers will occur at several places in most provinces of the island after 01.00 p.m, and fairly heavy showers above 75 mm are likely at some places in Central, Sabaragamuwa and Uva provinces, the Department of Meteorology said in its daily weather forecast today (20).

Showers may occur at some places in Northern and Eastern provinces and in Puttalam district during the morning too, the statement added.

The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas around the Island.
Winds:
Winds direction is North-Easterly in the sea areas off the coast extending from Chilaw to Trincomalee via Mannar and Kankasanthurai, and Variable in the other sea areas around the island. Wind speed will be (20-30) kmph.
State of Sea:
The sea areas around the island will be slight. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

High-level flood warning issued!

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Colombo (LNW): In the substantial precipitation in the upper and middle regions of the Maha Oya Basin, there could be an increased risk of extensive flooding, the Department of Irrigation cautioned.

In response to this development, the department has issued a red alert indicating that the low-lying areas within the Maha Oya Valley, encompassing the Divisional Secretariat Divisions of Alavwa, Divulapitiya, Mirigama, Pannala, Wennappuwa, Negombo, Katana, Narammala, and Dankotuwa, may be susceptible to significant inundation.

Furthermore, the Irrigation Department emphasised that the sluice gates of the Deduru Oya, Tabbowa, Weheragala, Lunugamwehera, Mawara, and Udawalawa reservoirs have been intentionally opened to alleviate potential flood risks.

SLC sent 3 more letters to ICC seeking cricket ban: Opposition Leader’s special revelation

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Colombo (LNW): Leader of the Opposition Sajith Premadasa asserting that he will be making a new revelation today (19) on which the final match of the Cricket World Cup is being held stated that Sri Lanka Cricket (SLC) sent three letters to the International Cricket Council (ICC) on November 6, 7, and 9, 2023, revealing the circumstances which led to Sri Lanka Cricket’s ban from the International Cricket Council (ICC).

In the November 6 letter, the Interim Committee was criticised for political interference, and pressure was allegedly exerted on the Minister. The second letter indicated that the Inter-Season Committee violated the Sports Act, potentially leading to a cricket ban if such a committee is appointed, the Opposition Leader said.

In his special statement in Parliament today, Premadasa highlighted pressure to relocate activities such as the Under-19 World Cup, the 2024 ICC International Conference, and a T20 match to another country.

The third letter stated that a parliamentary debate initiated by the Sports Minister affected cricket’s independence by removing members. It also claimed efforts to change the cricket constitution, contrary to the ICC constitution, and requested 20 per cent of the SLC’s income from the Sports Ministry, he noted.

Premadasa asserted that the information in these letters is false, denying political interference and dismissing the notion of cricket being subjugated to the government’s cronies. He emphasised that such conduct violates the sporting rights of 22 million people.

Advisory for heavy rain and severe lightning (Nov 19)

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By: Isuru Parakrama

Colombo (LNW): Atmospheric conditions over the island are favourable for thunderstorms during the evening and night, and thundershowers accompanied by severe lightning are likely to occur at several places in Western, Eastern, Northern, North-Central, Sabaragamuwa, Uva and North-Western provinces and in Kandy and Matale districts, the Natural Hazards Early Warning Centre of the Department of Meteorology said in two advisory statements this (19) afternoon.

Heavy showers above 100 mm are likely to continue at some places in Central, Sabaragamuwa, North-Western and Uva provinces.

There may be temporary localised strong winds during thundershowers, and the General Public, therefore, is kindly advised to take adequate precautions to minimise damages caused by lightning activity.

Fonterra partners with Wayamba University for Dairy Sector modernisation

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Colombo (LNW): Fonterra Brands Lanka, Sri Lanka’s leading dairy company, has entered into a partnership with the Department of Livestock and Avian Sciences at Wayamba University.

This collaboration aims to empower the next generation of dairy enthusiasts and align with the government’s vision for a sustainable dairy industry in Sri Lanka.

Formalised through a Memorandum of Understanding, the alliance highlights Fonterra Brands Lanka’s dedication to fostering the future of the country’s dairy sector.

The primary objective is to provide students with practical, hands-on training and research opportunities, imparting real-world skills and knowledge in modernising agriculture.

Under this partnership, Wayamba University students gain access to Fonterra Brands Lanka’s purpose-built dairy farm in Pannala, the only facility in Sri Lanka equipped with the latest technology. This collaboration enables long- and short-term training programs for students.

This public-private partnership is a significant step toward nurturing aspiring dairy entrepreneurs, offering industry insights and real-world skills. It contributes to the development of responsible stakeholders and leaders in Sri Lanka’s dairy sector.

Initiative to pass laws for Colombo Port City investment in 3 months

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Colombo (LNW): During the Ministerial Consultative Committee on Investment Promotion, it was revealed that several laws and regulations will be enacted within the next three months to boost investment in Colombo Port City.

The committee, chaired by State Minister of Investment Promotion Dilum Amunugama, discussed the current legal system in Colombo.

Mr. Revan Wickramasuriya, Chief Operating Officer of the Colombo Port City Economic Commission, informed the committee that necessary laws and regulations to attract investments to the Colombo Port City would be implemented in the next three months.

He emphasised that while there are special legal arrangements for commercial activities in the port city, the country’s existing legal systems remain in effect.

The committee discussed the upcoming passage of a new act regarding investments in the country, with the chair expressing confidence that complex conditions for investments in Sri Lanka will be alleviated from next year.

Addressing concerns about delays in obtaining approvals from relevant ministries and institutions for investments in Sri Lanka, the chair noted that attention has been given to difficulties faced by investors due to increased electricity bills, and positive solutions are being explored.

Officials from the Export Development Board also reported progress in exporting cinnamon to China as a food product, in response to views expressed by Member of Parliament Yadamini Gunawardena during a previous Ministerial Consultative Committee on Investment Promotion.

State Ministers Jagath Pushpakumara, Diana Gamage, Shantha Bandara, Members of Parliament Niroshan Perera, Yadamini Gunawardena, Weerasumana Weerasinghe, Kumarasiri Rathnayaka, and Mrs. Manjula Dissanayake were present at the committee meeting.

Government to introduce new laws to prevent hoarding of rice stocks

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By: Staff Writer

Colombo (LNW): Sri Lanka would introduce new laws to prevent hoarding of food stocks, agriculture ministry officials said after official scare mongering on looming food shortages and continued monetary instability which has disrupted international trade.

He also stated that the government would introduce new legislation that will govern rice mill owners and silo owners to prevent future hoarding of food stocks.

Sri Lanka’s farmers and other started to hoard rice and other foods after official scaremongering that there would be food shortages from August 2022.

The mill owners have been hiking the price of paddy. Given the current drought and rainfall situation that prevail these individuals are not only attempting to raise the price of paddy, but are also trying to create the illusion of a paddy shortage.

The per capita paddy consumption in Sri Lanka is approximately 125 kg per year. However, due to last year’s economic crisis this figure decreased to 90 kg. Nevertheless, the per capita paddy consumption has increased to 112 kg as of now.

Additionally, Sri Lankans require two hundred thousand metric tons of paddy per month. Consequently, Gunaratne pointed out that 2.4 million metric tons of paddy is needed annually.

A quantity amounting to 2.4 million metric tons of paddy is required to maintain a level of substantial rice consumption in this island.

However, to achieve that approximately 3.7 million metric tons of paddy is required annually.

When shortfalls are expected, stocking up drives up prices, in the same way as futures market prices anticipates things in the future and helps smoothen supply across time by reducing current consumption.

The building up of rice silos helps stabilize prices where millers borrow money and buy stocks during harvest time.

The silos prevents prices from falling too low during harvest time and also prevents the deterioration of grain over time.

In this instance a spike in paddy prices after official scaremongering, has driven farmers to cultivate more rice than at first expected.

Domestic rice prices however are higher that the rest of the world and millers in part are strengthened in part due to import restrictions and forex shortages from money printed to pay state worker among other expenses.

For many years the Sri Lanka has placed import duties on rice and maize to give big profits to millers and maize collectors

If cultivation takes place during the Maha Season at the right time and fertilizer and other necessary requirements are provided sufficiently, a yield of 3.5-3.7 million metric tons of paddy can be obtained.

If cultivation is successful during the Yala Season paddy could produce a yield of 2 million metric tons.

However, considering the current situation in Sri Lanka, a state of chaos has unfolded due to the ban on the use of chemical fertilizer in 2021.