By: Staff Writer

March 03, Colombo (LNW): Once considered one of the best in the South Asian region, Sri Lanka’s Health system is now ailing with the exodus of doctors, nurses and paramedics along with attendants strikes demanding wage hike resulting in patients left languishing in hospital corridors.  

Over 1700 medical officers including 200 doctors have left the island for overseas during the past two years seeking greener pastures

Making matters worse , Sri Lanka is preparing to send hundreds of nurses to join hospitals in Saudi Arabia in 2024,.

The first phase of the recruitment process took place in Colombo this week and was overseen by the Saudi Ministry of Health and Sri Lanka’s Labor and Foreign Employment Minister Manusha Nanayakkara.

“Saudi Arabia is looking for medical and paramedical staff from countries such the Philippines, Indonesia, and Sri Lanka to meet the growing demand of this sector in the Kingdom,” Sanjay Nallaperuma, media secretary of the Ministry of Labor and Foreign Employment,he disclosed.

“Initially, they want to recruit 1,000 nurses in a phased operation throughout the next 12 months.”Ninety-five nurses were selected during the first phase out of 400 candidates, he added.

“Those selected were qualified nurses and they had a Bachelor of Science degree,” Nallaperuma said.“The Saudi Ministry of Health will post them in government hospitals in all parts of the Kingdom.”

Similar to global trends, nurses make important contributions to the Saudi health sector as healthcare providers. As a result of the Kingdom’s investments in health, nursing has become one of the most demanded professions.

“These 95 will go in May and the next recruitment (phase) is in August,” Nallaperuma said.For Sri Lanka, their employment in the Kingdom, where the average nurse salary is $1,400, will contribute to the reeling economy.

Every year, more than 200,000 migrant workers leave Sri Lanka to work abroad. They are a main source of foreign exchange for the country, which since 2022 has been gripped by its worst financial crisis.

Gulf Cooperation Council countries are the preferred choice for Sri Lankan workers, with Saudi Arabia being their key destination.

“We will get foreign currency at a time when we are undergoing a period of economic recovery,” Nallaperuma said. “It’s a great blessing from the Kingdom.”

By: Staff Writer

March 03, Colombo (LNW): Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024 seeking a five-month hold on a lawsuit filed by a bondholder over the country’s historic debt default, telling a New York federal judge that it wants more time to negotiate with private creditors.

The country was sued in July 2022 by Hamilton Reserve Bank Ltd., which sought full payment on more than $250 million of Sri Lanka’s dollar bond that was due that month.

The bank says it holds more than 25% of the bonds, which would likely enable it to block any modification of the notes.

On Friday, Sri Lanka sought an extension of a delay of the lawsuit that was granted in November. Hamilton Reserve opposed the new request, saying that the country has kept the bank “in the dark” about the negotiations despite repeated requests for information.

The island nation is prioritizing restructuring obligations to its private creditors as it seeks to fast-track a debt overhaul and exit a sovereign default, the foreign minister told Bloomberg last month.

The case is Hamilton Reserve Bank v. Sri Lanka, 22-cv-5199, US District Court, Southern District of New York (Manhattan).

The new administration which  took over in mid-2022 amid a debilitating financial crisis caused by a severe shortage of foreign exchange was aiming gross domestic product (GDP) growth of  3% this year.

Sri Lanka’s economy is estimated by the World Bank to have contracted by 3.8% last year but is expected to grow by 1.7% in 2024. Sri Lanka’s central bank has projected a more optimistic growth of 3% for this year.

The South Asian island nation defaulted on its overseas debt in May 2022 after a severe shortage of foreign exchange reserves triggered the worst financial crisis since independence from Britain in 1948.

Sri Lanka has since made progress on about $11 billion of bilateral debt restructuring and hopes to have agreements in place with all key creditors, including bondholders, by May at the latest, Foreign Minister Ali Sabry said. .

The country finalized a $2.9 billion bailout from the International Monetary Fund IMF in March last year, which helped temper sky-rocketing inflation, improved state revenue and boosted foreign exchange reserves.

By: Staff Writer

March 03, Colombo (LNW): The Condominium Developers Association of Sri Lanka (CDASL) has warned of protectionist policies of government leading to monopoly in the in the construction raw material market.

While protecting domestic industries is important, it must not come at the expense of consumer welfare or market fairness.

Any proposed measures should be evidence-based and transparent, with a clear understanding of their potential impacts on industry dynamics and consumer choice.

Addressing the issue of “reverse dumping” is equally critical in ensuring market integrity and competitiveness. Unjustified price surges undermine fair trade principles and distort market dynamics, necessitating proactive regulatory intervention.

Thorough investigations are essential to uncover any unfair pricing tactics and safeguard consumer interests.

Furthermore, the CDASL questions the rationale behind extending favouritism to feeder industries, such as tiles, cables, cement, steel, and others that lack substantial export earnings or workforce engagement.

Such policies not only distort market dynamics but also undermine the growth potential of the housing and construction sector. By re-evaluating these policies, policymakers can foster a more conducive environment for sustainable development and economic prosperity.

The unconscionable profits earned by the tile and cables industries, including companies such as Royal Ceramics, Lanka Tiles, ACL, and Kelani Cables, in 2022 and 2023, can be seen in their annual accounts, where net profits have multiplied more than three times over 2021, due to the restrictions placed on imports, all while growth and profits in the broader construction sector declined.

The association said it was deeply concerned about recent proposals advocating for protectionist measures within the tile industry.

It singled out MackTiles  Chairman Mizver Makeen’s call for anti-dumping laws targeting the import of floor and wall tiles.

CDASL said Makeen is attached to MackTiles, making his remarks seem quite self-serving. Furthermore, such proposals, if implemented without careful consideration, could have far-reaching consequences for both industry stakeholders and the general public.

At the heart of the issue lies the lack of substantiated evidence supporting claims of “dumping”. Without concrete proof, such allegations raise suspicions regarding the motives behind them and the potential for unintended consequences.

Moreover, the proposed measures overlook the detrimental effects of monopolistic practices, which have long plagued the housing, construction, and condominium industries in Sri Lanka.

Monopolistic practices not only stifle competition but also stand in the way of innovation and quality advancements.

By limiting consumer choice and exploiting market dominance, these practices drive up costs and erode trust in the industry. Furthermore, they hinder the growth and sustainability of the sector, further impeding progress and economic development.

The escalating costs of tiles also pose significant challenges for construction projects, impacting affordability and accessibility of housing and commercial properties.

This trend not only exacerbates financial strains on developers and contractors but also undermines the broader goals of social stability and economic growth. Affordable housing is essential for fostering inclusive communities and driving prosperity, making it crucial to address the root causes of high costs.

March 03, Colombo (LNW): Sri Lanka has petitioned a New York federal court for a five-month postponement of a lawsuit initiated by a bondholder concerning the nation’s significant debt default.

The request aims to allow more time for negotiations with private creditors.

The lawsuit, filed by Hamilton Reserve Bank Ltd. in July 2022, demands full repayment of over $250 million in Sri Lanka’s dollar bond, which matured that same month.

Hamilton Reserve Bank claims ownership of more than 25% of the bonds, potentially granting it veto power over any proposed modifications to the debt terms.

In response to Sri Lanka’s recent request for an extension of the lawsuit delay, Hamilton Reserve objected, alleging that the country has withheld crucial negotiation details despite repeated inquiries from the bank.

Sri Lanka has expressed a commitment to addressing its obligations to private creditors as part of its efforts to expedite a comprehensive debt restructuring plan and emerge from sovereign default, as stated by the foreign minister in a recent interview with Bloomberg.

The legal matter is documented under Hamilton Reserve Bank v. Sri Lanka, case number 22-cv-5199, in the US District Court for the Southern District of New York (Manhattan).

1. President Ranil Wickremesinghe underscores the pressing need to address the challenges facing the agricultural sector, affirming a commitment to prioritise the concerns of farmers in the nation’s rebuilding efforts: Emphasising the imperative of fostering a competitive agricultural industry geared towards crop exportation, the President announced plans for the imminent launch of the country’s most extensive agricultural modernisation initiative.
   
2. Opposition Leader Sajith Premadasa says the Sri Lankan school children must be taught the Constitution which details the three main pillars of democracy, the legislature, the executive and the judiciary, how power is divided, the checks and balances, and fundamental rights: adds the 22 million population of the country should also be made aware of the above.
   
3. Former JVP activist Dr. Lionel Bopage responds to a statement by Minister Prasanna Ranatunga, denouncing it as potentially misleading to younger generations: criticises the historical falsehoods perpetuated by politicians, citing the ‘Black July Riots’ of 1983 as an example: recounts personal experiences during the riots, witnessing atrocities against Tamils and detailing the complicity of government figures: adds the need for accountability and urges SL to confront its past for a more just and unified future: Previously, Ranatunga accused the JVP of inciting the Black July Riots.
   
4. All-Ceylon Restaurant Owners’ Association (ACROA) increases prices due to rising food production costs: Plain tea up by Rs. 5, milk tea by Rs. 10. Rice and curry packets up by Rs. 25, while Kottu and Fried Rice rise by Rs. 50: ACROA promises adjustments with future price changes.
   
5. Additional Secretary to the Health Ministry Dr. Saman Rathnayake, who was arrested and remanded in the medicine procurement scandal, intends to provide a confidential statement in court: Rathnayake’s arrest followed a seven-hour interrogation by the CID: Despite being remanded until March 14, he will deliver his statement on March 4.
   
6. The Western Province Education Department suspended ongoing government school term test examinations due to reports of leaked Mathematics and English question papers: This action was taken following confirmation of the leak, and the department has filed a complaint with the Criminal Investigation Department for investigation.
   
7. Russian missile cruiser Varyag docks in Colombo port, greeted with naval courtesies: The 187m vessel, with 529 crew members, led by Flag Officer Velichko Anatoly Vasicievich and Commanding Officer Glushakov Roman Nikolaevich, visits Sri Lanka: Planned meetings with Rear Admiral Saman Perera and local exploration programmes are scheduled: The cruiser will restock essential supplies during its stay until March 4, before continuing its mission.
   
8. Sri Lanka expresses deep concern over loss of life in Gaza, urges thorough investigation: Calls for ending Gaza blockade to provide vital aid to civilians: Initiates “Children of Gaza Fund” to aid victims, pledges USD one million through UN agencies: Supports sustainable political resolution for an independent State of Palestine while emphasising Israel’s security.
   
9. Prominent contributors to ‘Ravaya’ newspaper initiate legal action over printing cessation: Plaintiffs, including notable Sri Lankan figures, allege breach of trust by the newspaper’s officials: Legal recourse sought to protect the rights of contributors during 2013/2014 period.
   
10. Agriculture Minister Mahinda Amaraweera says the dollar has surged against the rupee, prompting efforts by farmers and foreign employers to stabilise it: highlights the record rice harvest and the empowerment of farmers in setting prices, particularly in Keeri Samba cultivation.

March 03, Colombo (LNW): The Western Province Education Department has announced the suspension of ongoing government school term test examinations following reports of leaked Mathematics and English question papers.

The department confirmed the suspension after receiving information about the leak and has lodged a complaint with the Criminal Investigation Department (CID) for further investigation.

March 03, Colombo (LNW): The Russian Pacific Fleet’s missile cruiser Varyag has docked at the port of Colombo in Sri Lanka, the Sri Lanka Navy reported.

The arrival of the 187-meter-long vessel, serving as a Missile Cruiser with a crew of 529, was met with traditional naval courtesies.

The ship’s Flag Officer, Captain 1st Rank Velichko Anatoly Vasicievich, and Commanding Officer, Captain 2nd Rank Glushakov Roman Nikolaevich, lead the delegation.

During their visit, the ship’s officials are scheduled to meet with Rear Admiral Saman Perera, the Commander of the Western Naval Area.

Additionally, various programmes are planned by the Sri Lanka Navy to foster goodwill and enable the crew to explore local attractions.

The Russian cruiser will utilise its stay in Colombo to replenish essential supplies such as water and fuel.

The ship’s welcome ceremony saw the presence of officials from the Russian embassy, Sri Lanka’s naval forces, and port services personnel.

Following its port call, the Varyag will remain in Colombo until March 4 before continuing its designated missions as part of its extended deployment.

March 03, Colombo (LNW): Additional Secretary to the Ministry of Health, Dr. Saman Rathnayake, who was arrested and remanded in connection with the medicine procurement scandal, expressed his willingness to provide a confidential statement during a court hearing yesterday (02).

The case pertaining to the procurement, supply, and distribution of the controversial medicine was addressed in court yesterday.

The Criminal Investigation Department (CID) arrested Rathnayake yesterday when he presented himself to the CID for questioning.

Following over seven hours of interrogation, the Additional Secretary was taken into custody. Earlier yesterday, the court issued an order remanding Rathnayake until March 14, based on the submissions made by Deputy Solicitor General Lakmini Girihagama at the Maligakanda Magistrate’s Court.

However, Rathnayake, through his legal representative, informed the court of his intention to provide a confidential statement before the Magistrate. The Magistrate granted permission for this request and scheduled Rathnayake to appear in court on March 4 to deliver the confidential statement. Consequently, he will remain remanded until March 4.

During today’s court session, Deputy Solicitor General Girihagama informed the court that Dr. Saman Ratnayake, the 10th suspect in the case, was arrested for misappropriating government funds.

Investigations revealed that Rathnayake, who possessed a thorough understanding of the emergency procurement process under the Indian Credit Line, misused government funds to procure the controversial medicines.

It was revealed that Rathnayake, along with ex Health Minister Keheliya Rambukwella, orchestrated a fabricated medicine shortage using counterfeit cabinet papers to exploit the emergency procurement process.

This fraudulent act was carried out with dishonest intentions.

A paper submitted to the Cabinet on September 26, 2022, warned of a critical shortage of 182 medicines in the country. However, upon verification, no record of these 182 medicines was found.

The following day, Rathnayake instructed former Secretary of the Ministry of Health Janaka Sri Chandragupta to initiate an emergency procurement process for 285 medicines based on the fabricated emergency situation.

Deputy Solicitor General Girihagama emphasised that Rathnayake’s actions led to the misappropriation of Rs. 2 billion of government funds.

March 03, Colombo (LNW): Maldives’ national carrier ‘Maldivian Airlines’ has unveiled plans to introduce a new flight route to Bandaranaike International Airport (BIA) in Colombo, Sri Lanka, effective April 25, 2024.

This strategic move underscores Maldivian’s dedication to fostering connectivity between the Maldives and key global destinations, facilitating travel options for passengers, and fostering cultural and economic ties between the two nations.

Ibrahim Iyas, Managing Director of Maldivian, expressed enthusiasm for the launch, stating, “We eagerly anticipate serving Colombo, bridging the gap between the Maldives and Sri Lanka for both leisure and business travel. This expansion underscores our commitment to extending the reach of the Maldives internationally. We extend our gratitude to all authorities and partners involved in facilitating this new route.”

Maldivian has collaborated with Nawaloka Air Services Pvt Ltd in Sri Lanka to serve as the General Sales Agent (GSA) for the new route.

This partnership marks a significant milestone for travelers seeking seamless connectivity between the Maldives and Sri Lanka.

With its rich cultural heritage, diverse offerings, and thriving business landscape, Colombo presents an appealing addition to Maldivian’s expanding network of destinations.

The flights will operate on Thursdays and Saturdays with the following schedule (local times apply):

The airline has commenced ticket bookings for the new Colombo route through various sales channels, including its website, mobile application, and ticketing office, allowing travelers to plan and secure their trips in advance.

Maldivian will offer two weekly flights to Colombo, departing every Thursday and Saturday, catering to both leisure and business travelers.

Passengers will have the opportunity to connect to Maldivian’s extensive domestic network of 16 destinations seamlessly.

Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL), expressed delight at the launch of scheduled flight operations by Maldivian, especially as Sri Lanka’s tourism industry rebounds.

He commended the collaborative efforts of airline partners, emphasizing their positive contribution to the aviation and tourism sectors in Sri Lanka.

For further inquiries, travelers can visit Maldivian’s official website at www.maldivian.aero or contact Nawaloka Air Services Pvt Ltd at +94 112 325 500, the General Sales Agent in Sri Lanka.