March 15, Colombo (LNW): The government has stepped into find some redress to the  construction industry in Sri Lanka which is on the verge of collapsing in the economic crisis which has triggered the the shortage of building material and its  high prices if it is available in some hardware stores.     

Sri Lanka stands on the verge of losing a major industry – its construction sector, which notably contributes approximately 9.6% to the GDP and involves nearly 2.6 million stakeholders. 

The industry has already seen a significant contraction by 60%, resulting in over 500,000 job losses and the emigration of more than 10,000 professionals. In response, the government has established a task force, producing a 51-point report, from which 11 critical points were selected for action. 

Despite these measures, progress has stalled, necessitating urgent intervention to rejuvenate the industry.

Inthis context ,President Ranil Wickremesinghe announced that an expert committee would be appointed to investigate and propose solutions for the prevailing economic challenges, particularly within the construction sector. 

This declaration was made during a discussion held at the Presidential Secretariat attended by industrialists from the construction sector, the President’s Media Division (PMD) said. 

Wickremesinghe also emphasized the inclusion of experts from the Ministry of Finance, Ministry of Urban Development, and Housing in this committee formation process. Furthermore, he assured relief for industrialists across various sectors through debt restructuring by the following year.

The discussion also delved into the issues faced by contractors of all scales and parties within the construction field, including the revival of stalled projects, the establishment of an investment-friendly environment, the promotion of construction services, and alternative funding and contracts. Counselling matters were extensively addressed during the session, it added.

The plight of contractors, particularly in the SME sector, is alarming. They face immense hardships from halted projects, non-payment, and financial pressures, often risking personal assets.

The competitive nature of acquiring projects, with minimal profit margins, exacerbates their vulnerability, leading to a detrimental cycle affecting their entire business operation. 

As the industry contends with these challenges, the proposal is for a high-powered committee to address contractor grievances, improve contract terms, and establish fair compensation mechanisms.

Senior Advisor to the President on National Security and Chief of Staff, Sagala Ratnayaka, Governor of the Central Bank Dr. Nandalal Weerasinghe, Secretary of the Ministry of Finance Mahinda Siriwardena, along with other ministry secretaries and representatives from related institutions and the construction industry participated in the discussion.

March 15, Colombo (LNW): IndiGo, India’s preferred airline, has announced new direct flights between Mumbai and Colombo starting April 12, 2024. These flights will operate three times a week on Tuesday, Thursday, and Friday, and play a key role in enhancing connectivity between the financial capital of India – Mumbai, and the capital of Sri Lanka.

 With this new connection, Mumbai has become the fourth destination in India with direct connectivity to Colombo, after Bengaluru, Hyderabad, and Chennai.

Vinay Malhotra, Head of Global Sales at IndiGo, said: “We are pleased to launch new direct flights between Mumbai and Colombo, which would serve as a catalyst in enhancing travel, trade and tourism, between India and Sri Lanka. 

With the addition of these flights, IndiGo will operate 37 weekly flights to Colombo from 4 cities in India. 

IndiGo Airline, is continuously working towards providing its customers with superior connectivity and enhanced accessibility to explore new horizons with our ever-expanding range of travel options. 

“IndiGo remains committed to delivering on its promise of affordable, on-time, courteous, and hassle-free travel experience across an unparalleled network, he said..”

India and Sri Lanka share a rich legacy of intellectual, cultural, religious and trade relations spanning over 2,500 years. 

Colombo serves as a bustling hub for both business and tourism. The city is well-connected to the international airport and offers easy access to the island nation. 

Colombo itself is a city of contrasts, where modern skyscrapers stand alongside colonial-era architecture. 

Travellers can explore a wealth of cultural and historical landmarks, including the Gangaramaya Temple and the National Museum. For culinary adventure lovers, Colombo’s diverse food scene offers a tempting array of flavours, from spicy curries to fresh seafood.

IndiGo has announced the introduction of new direct flights between Hyderabad and Colombo from November 2, 2023.IndiGo is the first Indian carrier to provide direct connectivity between the two cities, reinforcing trade, economic, and cultural ties.

This was  part of IndiGo’s strategic expansion in international markets, providing customers with seamless and efficient connectivity.

Head of Global Sales at IndiGo, Vinay Malhotra, said, “The introduction of these flights will not only enhance connectivity but also provide travellers with greater flexibility and convenience.”

Customers who wish to plan their travel can book tickets on the official website.

The schedule includes Flight 6E 1181 Hyderabad-Colombo operating daily, except Wednesday, and departing at 12 noon to arrive at 2 pm

March 15, Colombo (LNW): United Petroleum Australia which has entered into Sri Lanka’s petroleum retail operations last month, plans to obtain their licence to commence operations with effect from mid-2024, Power and Energy Minister Kanchana Wijesekera 

Taking to ‘X’ (formerly Twitter), the Minister revealed that the Australian-owned petroleum retailer and importer plans to sign an agreement with the Board of Investment (BOI) and obtain the relevant licence mid this year. 

Chief Financial Officer (CFO) of the United Petroleum Group, Nigel Simonsz, visited the Ministry on Thursday (14 March), and updated those present on their plans anticipated schedule as to when retail operations will commence in Sri Lanka.

On 22 February, United Petroleum of Australia signed an agreement with Sri Lanka’s Ministry of Power and Energy to supply petroleum products into the local market.

The agreement was signed by Secretary to the Ministry of Power and Energy Dr. Sulakshana Jayawardena on behalf of the Government of Sri Lanka, and Eddie Hirsch, on behalf of United Petroleum Australia, in his capacity as the owner of the company

The Australian-owned petroleum retailer and importer was assigned 150 fuel stations across Sri Lanka, and was also given the right to build 50 new fuel stations.

As such, United Petroleum Australia incorporated a company in Sri Lanka under the name ‘United Petroleum Lanka Pvt. Ltd.’, to carry out operations within the country, with former Ceylon Petroleum Corporation (CEYPETCO) Board Member Dr. Prabath Samarasinghe having been appointed as the Director and CEO of the company.

United Petroleum Australia Pty Ltd has finalised a contract with Sri Lanka’s Ministry of Power and Energy to provide petroleum products within the local market. 

This venture marks United Petroleum Australia’s inaugural foray into retail petroleum beyond Australian borders, boasting a portfolio of over 500 fuel stations within Australia.

 Commenting on the expansion, a spokesperson for United Petroleum Lanka emphasised the company’s commitment to quality, safety, and environmental standards, expressing a dedication to enhancing product and service quality in the Sri Lankan market.

The approval for United Petroleum Australia’s entry into Sri Lanka’s fuel retail market was part of a broader initiative initiated by the Sri Lankan Government in March 2023. 

This initiative saw licences granted to several international companies, including China’s Sinopec, Australia’s United Petroleum and RM Parks of the USA, in collaboration with multinational oil and gas company Shell PLC. 

 These developments align with the Sri Lankan Government’s decision in 2022 to liberalise the fuel import and retail sales market, aiming to address the country’s foreign exchange crisis.

The approval of the Petroleum Products (Special Provisions) Bill by the ministerial consultative committee on power and energy paved the way for new suppliers to participate in the local fuel market as importers, distributors, and retail operators of petroleum products.

1. President Ranil Wickremesinghe announced that an expert committee would be appointed to investigate and propose solutions for the prevailing economic challenges, particularly within the construction sector. He also emphasized the inclusion of experts from the Ministry of Finance, Ministry of Urban Development, and Housing in this committee formation process. 

2. A delegation from the Jathika Jana Balavegaya (JJB) met with the IMF Mission in Sri Lanka. The discussion primarily focused on the progress of governance and reform frameworks recommended by the IMF team. Additionally, concerns were raised regarding recent governmental actions, notably the appointment of the Committee on Public Enterprises (COPE) Chairman, which sparked scrutiny.

3. The suspects who were remanded after being implicated in the alleged importation of substandard Immunoglobulin vaccines, including former Health Minister Keheliya Rambukwella, have been refused bail. The Criminal Investigations Department (CID) had commenced an investigation into allegations that the pharmaceutical company had imported 22,500 vials of substandard Immunoglobulin vaccines by creating forged documents with the assistance of the two senior state officials. 

4. Large-scale drug trafficker Mohommed Shiran Basik was acquitted from a drug case against him on orders of the Colombo High Court. Colombo High Court Judge Manjula Thilakaratne ordered the defendant’s acquittal citing significant contradictions in the testimonies provided by officers of the Police Narcotics Bureau (PNB)

5. Sri Lanka’s Ministry of Defence received a stock of special Explosive Ordnance Disposal Equipment under the Chinese Military Grant scheme. The consignment was officially handed over at a formal ceremony held at the Army Headquarters, headed by Qi Zhenhong, the Ambassador of the People’s Republic of China in Sri Lanka and General (Retd) Kamal Gunaratne, Secretary to the Ministry of Defence.

6. Dates has been fixed to debate the no confidence motion against the speaker Mahinda Yapa Abeywardena. The related debate is scheduled to take place in Parliament on Tuesday, the 19th, and Wednesday, the 20th.

7. Basil Rajapaksa, the founder of the Sri Lanka Podujana Peramuna (SLPP), stated that he would prefer the Parliamentary Election to be held prior to the Presidential Election in Sri Lanka. He expressed his belief that holding the Parliamentary Election after the Presidential Election would not accurately reflect the people’s reality.

8. United Petroleum Australia, who entered into Sri Lanka’s petroleum retail operations last month, plans to obtain their licence to commence operations mid-2024, Power and Energy Minister Kanchana Wijesekera stated. The petroleum retailer and importer was assigned 150 fuel stations across Sri Lanka, and was also given the right to build 50 new fuel stations.

9. Environmental groups are escalating their opposition to the proposed Adani wind farm in Mannar, alleging that political parties have disregarded its detrimental environmental, social, and economic effects. Leading figures such as Dr. Rohan Pethiyagoda and environmental lawyer Jagath Gunawardena are prominently involved in this resistance against the project.

10. Former Sri Lankan cricketer Lahiru Thirimanna has been hospitalized following a road accident in Thrippane, Anuradapura, the Police said. He has been admitted to Anuradhapura Teaching Hospital with minor injuries sustained in the accident

Transport, Highways, and Mass Media Minister Dr. Bandula Gunwardhana announced yesterday the formulation of rules and regulations by the Transport Ministry, in collaboration with the Motor Traffic Commissioner, to register electric three-wheelers in Sri Lanka. These regulations, alongside relevant specifications prepared by the Department of Motor Traffic, ensure compliance with standards and safety measures.

Dr. Gunwardhana made these remarks at the inauguration of a center in Kollupitiya, where three-wheelers manufactured by Vega Innovations are converted to run on electricity instead of fossil fuels. The facility not only offers conversion services but also provides charging infrastructure for electric three-wheelers.

The center is equipped with charging facilities capable of rapidly charging low-capacity motorcycles, three-wheelers, and other electric vehicles within a short period, allowing a three-wheeler to be fully charged in less than an hour. Additionally, the center offers technical facilities for charging vehicles and making payments through a mobile phone application, facilitating seamless transactions for consumers.

Vega Innovations plans to extend these services to all charging stations across the island in the future. Moreover, an office at the facility provides easy financing options in partnership with CDB for the conversion of fuel-powered tricycles to electric ones.

March 15, Colombo (LNW): The Power and Energy Ministry, in collaboration with the Ceylon Electricity Board (CEB), has announced plans to initiate International Competitive Bidding (ICB) for the establishment of a 50 MW wind farm facility in Mannar. Under the Build, Own, and Operate (BOO) model, suitable developers with the requisite financial and technical capabilities are invited to participate in this endeavor.

According to Power and Energy Minister Kanchana Wijesekera, this initiative aligns with the government’s commitment to augment sustainable energy sources within the national grid. The ministry has set the deadline for proposal submissions on May 9. Subsequently, the proposals will undergo evaluation at the CEB Renewable Energy Procurement and Performance Monitoring office, with the presence of authorized representatives from the project proponents.

March 15, Colombo (LNW): Central Province’s Irrigation Engineer, Dinesh Sumanasekara, has raised concerns over the daily evaporation of approximately eight millimeters of water from the Victoria and Randenigala reservoirs. Sumanasekara highlighted the impact of prevailing high temperatures on water levels, stressing that despite the current availability of 88% of the reservoirs’ total capacity, there remains a looming risk of water scarcity for agricultural operations due to evaporation.

Addressing representatives of farmers’ organizations at a seasonal meeting held at the Minipe Divisional Secretariat, Sumanasekara underscored the crucial need for farmers to grasp the gravity of the situation and adopt efficient water management practices. He emphasized the significant loss of water through evaporation induced by elevated temperatures and absorption into parched ground.

The meeting, chaired by Kandy District Secretary Chandana Tennakoon, saw the attendance of key officials including Matale Additional District Secretary F.R.M. Rialdeen, Kandy Additional District Secretary Nilusha Bulathge, Minipe Acting Divisional Secretary Nuwan Hemakumara, Wilgamuwa Divisional Secretary D.M.T.U. Dissanayake, and Minipe Residential Business Manager S.H.L. Dayapala, among others.

March 15, Colombo (LNW): In a significant move aimed at supporting farmers, Agriculture and Plantation Industry Minister Mahinda Amaraweera announced on Wednesday (13) that President Ranil Wickremesinghe has sanctioned Rs. 500 million to the Paddy Marketing Board for the purchase of paddy. This decision comes amidst challenges faced by the Ministry in securing funds from the Finance Ministry, which has so far been unresponsive to requests for Rs. 2 billion for paddy procurement during this Maha Season.

The allocated funds will facilitate the opening of at least 12 paddy stores across nine districts, including Hambantota, Monaragala, Ampara, Trincomalee, Batticaloa, Kurunegala, Vavuniya, Kilinochchi, and Anuradhapura, starting from today (15). Additionally, Agriculture Minister Amaraweera has instructed the PMB Chairman to prepare another 100 paddy stores to be operationalized promptly for paddy procurement.

From tomorrow (16) onwards, warehouses including Kachchigal Ara, Weerawila, Dehigahalanda, Yodhakandiya, Aluthwewa, Weeragoda, Surangal, Manalpeddi, Nikaweratiya 2, Kilinochchiya, Park Road, Kilinochchi Economic Center, and Nochchiyagama will remain open for paddy transactions.

Despite facing reluctance from Finance Ministry officials, who did not respond positively to funding requests, the Paddy Marketing Board initiated paddy purchases by utilizing Rs. 250 million from the Farmer Trust Fund. Minister Amaraweera highlighted the direct involvement of the President in addressing this issue, emphasizing the urgent need for financial provision to support paddy procurement.

Under the government’s imposed maximum price regulations, paddy with 14 percent moisture content will be purchased at Rs. 105 per kilogram, while Samba and Keeri Samba varieties will be bought at Rs. 120 and Rs. 130 per kilogram respectively. Paddy exceeding 14 percent moisture content will be procured at Rs. 90 per kilogram, and Rs. 100 per kilogram for Samba and Keeri Samba.

Furthermore, the Paddy Marketing Board has initiated wholesale purchases of Red Nadu from farmers in the Hambantota District, utilizing a loan of Rs. 100 million from the Farmer Trust Fund. As of (12), approximately 75,000 kilograms of paddy have been procured, marking a significant step towards supporting agricultural livelihoods in the region.

March 15, Colombo (LNW): Showers or thundershowers may occur at several places in Western, Sabaragamuwa, Southern and Central provinces the evening or night.

Mainly dry weather will prevail elsewhere of the island.

Misty conditions can be expected at some places in Sabaragamuwa, Central and Uva provinces and in Galle and Matara districts during the morning.