Colombo (LNW): The Sri Lanka Fisheries Corporation is reportedly experiencing monthly losses of up to Rs.100 million, attributed to the procurement of fish through private traders instead of engaging in direct transactions with fishermen, a report by Dairy Mirror disclosed.

This practice, allegedly supported by influential bureaucrats, is believed to benefit middlemen with political connections, creating a perceived nexus of corruption that significantly impacts the Corporation’s financial standing, according to report.

With a market share of three percent, mismanagement has resulted in substantial losses, reaching Rs.6.8 billion by mid-year.

The Corporation, responsible for purchasing approximately 250 tonnes of fish, holds a three percent market share and serves as the exclusive fish supplier to state hospitals under an agreement signed 14 years ago during Nimal Siripala de Silva’s tenure as Health Minister.

However, concerns arise regarding pricing competitiveness, with allegations of overpricing involving bureaucrats from both the Corporation and the Health Ministry, who are accused of benefiting from additional pricing markups.

In the midst of a financial crisis, the Corporation faces outstanding payments exceeding Rs.600 million to the Employees’ Provident Fund (EPF) and the Employees Trust Fund (ETF).

The Corporation’s trade union collective has communicated to President Ranil Wickremesinghe, asserting that the supply agreement with health authorities is plagued by corruption issues, including overpricing and the provision of land-frozen fish instead of high-quality sea-frozen products.

The unions argue that hospitals should receive fish frozen immediately after catching to ensure patients are provided with seafood free of bacterial infections.

However, they accuse the current Corporation management of supplying land-frozen fish, disregarding potential health risks.

Colombo (LNW): Justice, Prisons Affairs, and Constitutional Reforms Minister Wijeyadasa Rajapakshe has announced that the delayed reports from the Department of Government Analyst will be provided within the next six months.

The Minister attributed the delay to challenges in importing the necessary chemicals for tests, stemming from the impact of the coronavirus pandemic and the prevailing economic crisis.

Highlighting the increased cost of conducting a test, the Minister noted that it now amounts to approximately Rs.20,000, reflecting a significant rise in chemical prices following the pandemic.

Assuring a proactive approach to address the delays, Rajapakshe stated that a dedicated programme has been initiated to complete the pending tests within the next six months, with a commitment to finalise the tests within the respective months they are due.

Colombo (LNW): The Department of Examinations has announced a prohibition on tuition classes, seminars, and workshops for the 2023 GCE Advanced Level examination, effective from midnight on Friday (29) until the conclusion of the exam.

Additionally, the distribution of model question papers and the publication of model questions via electronic and print media will be restricted.

The Exams Department stressed that legal action will be taken against individuals or groups engaging in these activities.

The 2023 GCE A/Level Exam is scheduled to take place from the 4th to the 31st of January.

Colombo (LNW): The Ports and Airports Development Levy (PAL) currently applied to fuel and gas will be eliminated with the implementation of the revised Value Added Tax (VAT).

Advisor on Tax Policy to the Ministry of Finance, Thanuja Perera, clarified that the 7.5 per cent PAL on fuel and the 2.5 per cent PAL on Liquefied Petroleum (LP) gas will be lifted with the commencement of the increased 18 per cent VAT on January 1, 2024.

The VAT (Amendment) Bill, endorsing the rise in VAT from the existing 15 per cent to 18 per cent, was approved by the parliament on December 11 with a majority of 45 votes.

The Bill, now enacted as the VAT (Amendment) Act No.32 of 2023, will lead to the removal of the PAL on fuel and gas.

Colombo (LNW): Lanka SATHOSA has announced a further reduction in the prices of several food items, effective Thursday (December 28).

The revised rates:

• Local Canned Fish (425g) – Now Rs. 475 (reduced by Rs. 55)
• 1kg of Potatoes – Now Rs. 280 (reduced by Rs. 5)
• 1kg of Red Raw Rice – Now Rs. 175 (reduced by Rs. 5)
• 1kg of Red Dhal – Now Rs. 309 (reduced by Rs. 1)
• 1kg of White Nadu – Now Rs. 206 (reduced by Rs. 1)
• 1kg of White Raw Rice – Now Rs. 199 (reduced by Rs. 1)

Colombo (LNW): The recent economic crisis has significantly affected both income and expenditure for households, a recent survey undertaken by the Department of Census and Statistics (DCS) disclosed.

Titled “Household Survey on Impact of Economic Crisis – 2023,” the study highlights the challenges faced by households, prompting strategic adjustments and coping mechanisms.

The survey indicates that 60.5 per cent of households reported a decrease in total income, while 5.6 per cent experienced an increase, and 33.9 per cent saw no change despite the crisis.

In response to income decline, 6.6 per cent turned to secondary jobs or additional income sources, while 73.6 per cent did not adopt specific coping strategies.

Household expenditure also underwent changes, with 3.6 per cent reporting a decrease, 91.1 per cent indicating an increase, and 5.3 per cent noting no change.

Reasons for decreased monthly expenditure were diverse, with 77.0 per cent aligning expenses with reduced income.

Among those reporting increased monthly expenditure, 99.1 per cent cited rising food expenses as a significant factor.

Additionally, 97.2 per cent of households employed at least one coping strategy to manage their expenditure.

The economic crisis, considered one of the most challenging in Sri Lanka since Independence, was initiated by the Easter Sunday attacks in 2019 and exacerbated by the COVID-19 pandemic and subsequently by the failed administration.

Despite government measures to stabilise the situation, the tangible impact on households underscores the severity of the crisis.

Sri Lankan families faced challenges in managing daily activities, including income constraints, meeting commitments, and ensuring the well-being of family members.

Read the full report: http://www.statistics.gov.lk/WebReleases/HECS_Bulletin_Final

1. Chamber of Construction Industry Secretary General Nissanka N Wijeratne warns of collapse of the Construction industry due to the increase of VAT from 15% to 18% from 1st Jan’24: says the contraction of the sector from Jun’20 up to now is about 50%.
   
2. Jaffna District MP C V Wigneswaran says he is willing to contest the Presidential election next year, if all Tamil political parties reach a consensus on his candidature.
   
3. President Ranil Wickremesinghe appoints Justice W M N P Iddawala as the Chairman of the Commission to Investigate Allegations of Bribery or Corruption: also appoints Chethiya Goonesekera & K. Bernard Rajapakse as the other members with effect from 1st Jan’24.
   
4. Police say its Illegal Assets and Property Investigation Division has seized a house in Ja-Ela, land and a vehicle worth over Rs.55 million belonging to underworld member “Mattakuliye Kudu Roshan”.
   
5. Finance Ministry says the 7.5% Ports and Airports Development Levy will be removed for fuel when the 18% VAT comes into effect: also says PAL will be removed from domestic LP Gas.
   
6. Export Development Board says Merchandise Exports increased by 4.4% to USD 968.8 million in Nov’23 compared to Oct’23, but 2.67% lower from a year ago.
   
7. Electricity Consumers’ Assn says the Public Utilities Commission should find out the cause of the power outage that occurred across the island on 9th Dec’23 and take appropriate action without waiting for the CEB to find out and inform them: refutes statement made by PUC Chairman Professor M A R M Fernando that the CEB had accepted responsibility for the power outage.
   
8. Central Bank data reveals that the Western, North Western and Central Provinces continue to lead in empowering the country’s GDP: Western Province increases its share in nominal GDP to 43.4%.
   
9. Department of Census and Statistics survey shows that the economic crisis is bearing on people: also shows 60.5% of households find their monthly average incomes reduced, while 91.0% of households experience an increase in their monthly expenditure levels: traces back origin of the crisis to the 2019 Easter Sunday attack which had been exacerbated by the Pandemic.
   
10. Senior Lecturer and Spokesperson of the Federation of University Teachers’ Associations Senior Lecturer Charudaththe Illangasinghe says over 800 university lecturers have left SL this year: also says nearly 1,000 more are overseas “on leave”: adds that as a result academic activities at universities have been severely affected: laments the recruitment of new lecturers has come to a stop at present.