Colombo (LNW): Tikiri K. Jayathilaka who served as the Assistant Secretary General of Parliament has been appointed as the Chief of Staff and Deputy Secretary General of Parliament with effect from May 23, announced Deputy Speaker Ajith Rajapaksa yesterday (24).

Jayathilaka, who started his professional career by joining the Attorney General’s Department in 2002, has handled cases in many magistrate courts and high courts as a State Counsel. He joined the judiciary in 2006 and served as a Magistrate and Additional District Judge and served in various courts around the country.

Jayathilaka earned his L.L. B from the University of Colombo. He received his LL.M from the Northumbria University. He has also published a book on Community based Corrections.

In 2015, Jayathilaka, joined the Parliament of Sri Lanka as the Assistant Secretary General (Legislative Services.)

By: Isuru Parakrama

Colombo (LNW): Former Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake said he will contest the upcoming Presidential Election.

His comments come in during a briefing yesterday (24) following the motion to oust him from his position as the PUCSL Chief passed in Parliament with a majority of 43 votes.

Ratnayake told media that he has made this decision based on multiple requests made in this regard, adding that he is sure of obtaining the public’s support to contest the upcoming polls.

The ex PUCSL Chief also stressed that he already knew the outcome of the Parliament vote and was prepared for it. Following the dismissal, it will be easy for the authorities to appoint an individual who would be ready to do their bidding, he added.

1. SL High Commission in Canada objects to the erection of a monument to commemorate “Genocide of Tamil civilians in SL during the War”: ground-breaking for the construction in the municipal area of Brampton in the greater Toronto area took place recently.
   
2. Parliament passes the motion to remove the Chairman of the Public Utilities Commission Janaka Ratnayake with 123 voting for and 77 against.
   
3. Indian HC in SL says media reports suggesting the Indian Govt has demanded compensation damages from Sri Lanka for assistance provided during the fire incidents onboard MT New Diamond & MV X-Press Pearl in September 2020 & May-June 2021 are completely false.
   
4. Attorney General informs Supreme Court that the CID has already begun investigations into Pastor Jerome Fernando’s demeaning remarks on other religions, when the FR petition filed by Ven. Elle Gunawansa Thera & several others was taken up before Courts.
   
5. Tourist Hotels Association President M. Shanthikumar says the hotel sector has not been able to get higher revenues despite the improvement in international visitors as the rates are down because everyone is undercutting: laments a room at a star class hotel can be got for about Rs.25,000 per night, and therefore the smaller hotels are pushed to cut rates to get bookings.
   
6. Heavily indebted Sri Lankan Airlines says it will engage with holders of USD 175 million (Rs 53.3 bn), 7% fixed coupon int’l bonds on which it did not pay interest in December 2022.
   
7. SJB economic guru and MP Harsha de Silva says they can’t allow the Govt to jeopardize the interests of EPF members in its debt re-structuring exercise: however, Silva was at the forefront of seeking an IMF programme which was obviously going to lead to a local debt restructuring.
   
8. Lanka Sathosa reduces prices of 6 items; milk powder (400g) reduced by Rs.50 to Rs.1030; dried Chilli by Rs.45 to Rs.1350 per kg; Red lentils by Rs.10 to Rs.325; Soya Meat by Rs.10 to Rs.660; big onions by Rs.6 to Rs.129; Sugar by Rs.4 to Rs.239.
   
9. Acting Finance Minister Ranjith Siyambalapitiya says the Govt has no intention to bring down liquor prices in the near future: admits that following tax increases, the excise revenue has come down by 7.4% which has resulted in a drop in the
   projected excise revenue by 30%.
   
10. SL Cricket’s pace-spin combination of Matheesha Pathirana and Maheesh Theekshana share 4 wickets between them as Chennai Super Kings (CSK) defeat Gujarat Titans by 15 runs in the IPL Qualifier-1 match played at the M A Chidambaram Stadium in Chennai: mystery spinner Theekshana captures 2 for 28 while slinger Pathirana picks up 2 for 37 as Gujarat were bowled out for 157, for the first time in IPL history.

By: Staff Writer

Colombo (LNW): The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on International Insider information group noted.

Ur added that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe scarcity of essential goods.

The report said that Sri Lanka is one of the poorest Asian countries based on GDP per capita as of 2021.

To determine the poorest countries in Asia, the report analyzed data from Credit Suisse’s Global Wealth Databook 2022.

The database indicates the GDP per Adult in 2021. GDP per adult helps identify countries with lower average income levels, indicating that individuals in those countries may have limited financial resources.

It has selected the 20 poorest countries in Asia based on this metric, ranking the list in descending order of GDP per adult.

However, poverty encompasses multiple dimensions, including access to basic needs such as food, clean water, healthcare, education, housing, and social services.

To gain a more comprehensive understanding of poverty in a country, it is essential to consider multiple indicators and measures. These aspects are not directly captured by GDP per adult.

Sri Lanka GDP Per Adult in 2021 was US 5,555 and It is one of the poorest Asian countries based on GDP per capita.

Although classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe scarcity of essential goods.

Among the other 20 countries in the bracket of poorest Asian countries are Mongolia, Armenia. Philippines. Bhutan, Laos. Vietnam, Timor-Leste. Bangladesh Uzbekistan.Cambodia. Pakistan, Kyrgyzstan, Yemen,and Myanmar etc.

By: Staff Writer

Colombo (LNW): Upon completion of their mission to Sri Lanka, the International Monetary Fund (IMF) team has recognized the strong policy efforts of the Sri Lanka government towards the improvement of macroeconomic situation

Macroeconomic situation is showing tentative signs of improvement, with inflation moderating, the exchange rate stabilizing, and the Central Bank rebuilding reserves buffers.

Despite these advancements, however, they highlighted that the overall macroeconomic and policy environment remains challenging.

They welcomed the authorities’ ongoing efforts in meeting key commitments under the Fund supported program.

Performance under the program will be formally assessed in the context of the first review of the Extended Fund Facility arrangement, which is expected to be undertaken in September 2023”, the statement further read

The International Monetary Fund (IMF) team says that keeping up the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are key for Sri Lanka to emerge from the economic crisis.

The mission discussed recent economic developments and the implementation of the IMF-supported programme, including additional fiscal efforts that will be critical to ensure successful revenue mobilization for Sri Lanka, and the debt restructuring process, not excluding the ongoing discussions with both foreign and domestic creditors.

Issuing a statement following their visit, the IMF team said, “Achieving timely restructuring agreements with creditors in line with the program targets by the time of the first review is essential to restoring debt sustainability.

Keeping up the reform momentum and ensuring timely implementation of program commitments, including to ensure central bank independence, improve governance, and protect the vulnerable, are key for Sri Lanka to emerge from the economic crisis”.

An IMF mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from 11 to 23 May.

During their visit, the IMF staff team met with President and Minister of Finance Ranil Wickremesinghe, Governor Weerasinghe, Secretary to the Treasury Siriwardana, senior government officials, members of the opposition parties, CSOs, think tanks, trade unions, the private sector, and development partners.

“We would like to thank the authorities for the open and collaborative discussions and look forward to our continued close engagement”, the statement concluded.