Colombo (LNW): The government is scrambling to save the existing fuel stocks in the country due to the uncertainty of fuel and coal supplies in the world market as a result of the escalating war situation in Gaza and ever increasing price levels, finance ministry sources said.
President Ranil Wickremesinghe has also issued directives pertaining to the matter recently, the Ceylon Petroleum Corporation (CEYPETCO) said, mentioning that it has been focusing on a better management system of currently prevailing fuel stocks in the country.
However, although no issues have currently arisen regarding the fuel stocks, the government has instructed the relevant authorities to prepare a plan in case of any crisis in the near future.
CEYPETCO further emphasized that since SINOPEC is also successfully carrying out retail operations in Sri Lanka, it will be able to maintain the fuel supply without any crisis in the future.
Nevertheless, if any crisis situation is created due to the impact of current global situation, the relevant fuel management methods will be announced after prior notification, according to the CEYPETCO.
But the coal importation is to become a challenging issue for the authorities as Sri Lanka’s current coal supply is only adequate till the end of October, a the power and energy ministry top official said adding that the island nation would need US$100 million to import more coal after the supply ran out.
In value terms, South Africa constituted the largest supplier of coal to Sri Lanka, comprising 68% of total imports. The second position in the ranking was held by Russia, with a 24% share of total imports.
Despite the west and south having heavy rainfall, the hydropower generation has increased during the last few days this month. Hydropower generation contributed 25% in August and it increased to 30% during September. In the last four days, it has reached 40%.
Therefore the Ceylon Electricity Board (CEB) has to introduce a proper energy balance with available stocks of fuel and coal by operating coal and hydro power plants sparingly.
In fact, the last quarter of 2023 was an extremely challenging period for or us,” remarked the high official of the ministry pointing out that their primary challenge was to ensure round-the-clock electricity supply in a time when the nation’s economy was teetering on the brink.
The country will have to procure 2.5 million metric tons of coal necessary for the next year, he said.
Sri Lanka produces 40 percent of its electricity by burning coal. The always breakdown Norochcholai power plant is keeping 540 MW from the National Grid.
“We generate forty percent electricity with coal, and because the rains have filled the reservoirs, the rest we produce with hydro power,” he added.
Colombo (LNW): The Election Commission has reportedly once again approached the Treasury for funds to facilitate the long delayed local council elections.
An immediate sum of Rs. 2.2 billion would suffice for activities leading up to the election, the Commission indicated, emphasising that the remaining amount can be disbursed in three instalments over the subsequent three months post-election.
Given the current favourable financial status of the country, the Election Commission is optimistic that the Treasury will provide the necessary funds to conduct the deferred local council polls.
The ferry service between Nagapattinam in India and Kankesanthurai (KKS) near Jaffna in the Northern Province of Sri Lanka commenced on October 14, 2023. The ferry was flagged-off from Nagapattinam by the Minister of Ports, Shipping and Waterways of India Shri Sarbananda Sonowal at the Port and the External Affairs Minister Dr. S. Jaishankar through video link. The ceremony was addressed by the Prime Minister Narendra Modi and President of Sri Lanka H.E. Ranil Wickremesinghe virtually. The Minister of Ports, Shipping and Aviation of the Government of Sri Lanka, Hon. Nimal Siripala de Silva also joined the event virtually.
PM addressing at the launch of ferry services between Nagapattinam, India and Kankesanthurai, Sri Lanka via video message on October 14, 2023.
2. In his address, Prime Minister Narendra Modi recalled the vision document jointly adopted during the visit of the President of Sri Lanka to India in July 2023 for economic partnership between India and Sri Lanka, with the central theme of connectivity. He highlighted that connectivity brings closer the two countries and its people. Recalling the recent launch of the India-Middle East-Europe Economic Corridor during the G20 summit in India in September 2023, Prime Minister mentioned that the people of Sri Lanka will benefit from this connectivity corridor, as multimodal connectivity between India and Sri Lanka is strengthened. He further said that both Governments are working on fin-tech connectivity by linking UPI and Lanka Pay, and for connecting the energy grids to enhance energy security. Prime Minister added that the Governments will continue to work closely to start ferry services on the traditional Rameswaram-Talaimannar sector too.
3. In his remarks, highlighting the important role of ferry services in enhancing people-to-people ties between the two countries, President Ranil Wickeremesinghe thanked the Government of India and the Shipping Corporation of India for taking steps to commence the service.
4. External Affairs Minister, Dr. S. Jaishankar underlined that the launch of ferry is an affirmation of the people-centric policies of the Government of India. The focus of GOI’s ‘Neighbourhood First’ policy is connectivity, cooperation and contacts and in the future, connectivity with Sri Lanka will be further enhanced through power grid connection, oil pipeline and setting up an economic corridor. He highlighted that establishment of air and sea connectivity, smooth processing of visas and strengthening tourism links will make the lives of common people easier.
5. Minister of Ports, Shipping and Waterways of India Shri Sarabananda Sonowal hailed the ferry launch as a historic step which will provide an efficient and cost-effective means of travel for the people of the two countries. In his remarks, Minister of Ports, Shipping and Aviation of Sri Lanka, Hon. Nimal Siripala deSilva thanked the Government of India for the assistance extended in upgradation of the KKS Harbour which will bring immense benefits to the Northern Province of Sri Lanka.
6. The high-speed ferry is operated by the Shipping Corporation of India and has a capacity of 150 passengers. The maiden journey between Nagapattinam and KKS (about 60 nm) was covered in approx. 4 hours. The passengers who arrived at KKS on the maiden ferry were welcomed at the port by the Minister of Ports, Shipping and Aviation of Sri Lanka and the Consul General of India at Jaffna, who also saw off the first batch of passengers on the return voyage.
State Finance Minister Ranjith Siyambalapitiya says there would be no new taxes in the 2024 budget: also says the focus will be on expanding the tax base & ensuring tax compliance: explains that President Wickremesinghe has recognised people can’t be further burdened by new taxes: the President has however asserted in September’23 that the Budget 2024 will contain a proposal to tax primary bond dealers.
SLPP MP & former Minister Mahindananda Aluthgamage says an increase in the salaries of public employees is likely through the 2024 budget: also says it will be possible to reach an agreement with the IMF next month: asserts that at present, there are no power cuts, gas & fuel is available, price of food has reduced, & a people-friendly environment created.
Treasury laments that most state agencies have failed to publish procurement notices on a digital portal when the cost exceeds Rs 200 mn, in keeping with the IMF guidelines, despite instructions to do so: says this measure was taken to ensure transparency & accountability under the e-Govt Procurement (e-GP) digital platform.
CB Governor Nandalal Weerasinghe urges China “to share the terms of its recent USD 4.2 bn bilateral debt deal with SL’s Ministry of Finance, with other creditors”, although the Treasury Secretary Mahinda Siriwardene is already on record that the deal struck with China is a “landmark deal”: asserts that sharing the information would ensure transparency & assure other bilateral creditors that they’re getting a comparable deal.
Stock Market sources say the delay in obtaining the 2nd tranche of the IMF programme & high interest rates in Govt securities are the reasons for the collapse of the market over the past month.
Airport and Aviation Services Chairman G A Chandrasiri says the AASL will be seeking the approval of the Cabinet to commence piling work for the BIA Terminal II project without waiting until funds are released by Japan Int’l Cooperation Agency: also says the AASL had commenced construction of certain selected works of the BIA Terminal II project about 5 months ago.
CA Sri Lanka Council Member Tishan Subasinghe elected to the Council of the Confederation of Asian and Pacific Accountants: Subasinghe was elected out of 17 contestants who vied for the 9 board positions of the Regional Accounting Organisation representing 30 accounting bodies in Asia & Pacific.
Santhan alias Suthenthiraraja, one of the 7 life convicts granted premature release in the Rajiv Gandhi assassination case, asks the SL President to help him return to SL & live with his aged mother, who he has not met during his 32 years in prison.
Minister of Agriculture Mahinda Amaraweera instructs the Police in Jaffna to arrest a group of individuals who are allegedly extorting money from farmers in the Jaffna District: the farmers have pointed out that the Police have not taken any action on these incidents so far.
Sri Lanka beats Uzbekistan by 3 sets to nil (25-14, 25-18, 25-23) to win the Central Asian Volleyball Association Men’s Volleyball Challenge Cup.
Colombo (LNW): Agriculture Minister Mahinda Amaraweera yesterday (15) directed the senior police officers in Jaffna to promptly detain a group believed to be extracting money from farmers in the Jaffna district.
During the Special Agriculture Committee meeting at the Jaffna District Secretariat, farmers expressed their concerns to the Minister, claiming that the police had not intervened with the extortion group.
A well-organised group demands money daily when they bring their produce to the Jaffna market, the farmers grieved.
They indicated that this extortion racket has been ongoing for quite some time, notably in Jaffna, Kodikammam and Sinnaveli markets.
In response, the police informed the Minister that they had not previously received any formal complaints regarding this group.
Given this revelation at the agriculture committee meeting, the Minister directed the police to deploy intelligence operatives and take swift action to apprehend the alleged extortionists.
The Northern Province Governor, PSM Charles, was also present during these discussions.
Colombo (LNW): The Grade Five Scholarship Exam held yesterday (15) concluded without any hitches, and the results are expected to be released within 45 days, Commissioner General of Examinations Amith Jayasundara said.
Despite adverse weather conditions, all candidates managed to sit for the exam without issue, he asserted.
This year, 337,956 pupils took the Grade 5 scholarship exam at 2,888 centres throughout the country, and special provisions were made for those in areas affected by flooding.
Candidates in this year’s examination faced additional challenges due to ongoing flooding in parts of the Matara district, including Malimbada, Thihagoda Akuressa, and Kamburupitiya. Some routes to the examination centres were still submerged.
Many students commented that, despite these challenges, they managed to complete the exam successfully.
The scholarship examination went smoothly across the country, with no significant incidents reported, Jayasundara added.
Colombo (LNW): Showers or thundershowers will occur over most parts of the island after 2.00 p.m, the Department of Meteorology said in its daily weather forecast today (16).
Fairly heavy showers above 50 mm can be expected at some places in Uva, Easten, Northern and North-Central provinces, and a few showers may occur in coastal areas of the western and southern provinces during the morning too, the statement added.
Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces during the morning.
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 off coast extending from Colombo to Matara via Galle. Showers or thundershowers will occur at a few places in the other sea areas around the island, particularly during evening or night.
Winds:
Winds will be south-westerly and wind speed will be (20-30) kmph.
State of Sea:
Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
Colombo (LNW): The inter-tropical convergence zone is affecting the island’s weather, and in the backdrop, the current rainy conditions are expected to be enhanced during the coming days, the Natural Hazards Early Warning Centre of the Department of Meteorology said in an advisory statement today (15).
Accordingly, showers or thundershowers may occur at times in most parts of Sri Lanka from October 17 to 20, the statement added.
High intensity rains occurring of greater rainfalls during shorter periods of time of more than 100 milimetres are also likely to occur in some places.
People living in hilly areas (particularly landslide prone areas) and low-lying areas in river basins are urged to be vigilant.
Drivers and people using roads in the hilly areas are requested to be vigilant, and the Department urged the public to seek shelter, preferably indoors and never under trees.
The public is also requested to avoid open areas such as fields, tea plantations and open water bodies during thunderstorms.
“Avoid using wired telephones and connected electric appliances during thunderstorms. Avoid using open vehicles, such as bicycles, tractors and boats etc. Beware of fallen trees and power lines,” the statement further added.
PMD: In a pioneering move to bolster the small and medium-sized enterprise (SME) sector in Sri Lanka, the apex body of the ICT industry, FITIS, has unveiled the “DigiGo” Digital Playbook for SMEs. The launch event took place at a press conference recently at the President’s Media Centre, (PMC). Organized by the FITIS Digital Services Chapter, in collaboration with LKDomain Registry and under the patronage of the Ministry of Industries & Plantation Industries, as well as the Ministry of Technology, DigiGo aims to serve as a comprehensive resource for SMEs seeking affordable local digital services, guiding them on their journey towards digital transformation.
Addressing the gathering State Minister of Technology, Kanaka Herath, emphasized the pivotal role of technology in propelling the growth of the SME sector. He underscored how technology can provide solutions to the common challenges faced by SMEs, including accessing seed capital, expanding into new markets, overcoming resource constraints and addressing logistical issues. He also expressed his enthusiasm for collaborating with FITIS to launch the DigiGo initiative, which he believes will significantly enhance the SME sector in the country.
Furthermore, the Minister highlighted that the government has initiated the “Digicon 2030” program, with the primary objective of formulating a national digital economic policy for the year 2030. This initiative was a collaborative effort between the Ministry of Technology, the industry and with the support of the World Bank (WB). The resulting document was officially presented to President Ranil Wickremesinghe. Notably, SMEs have been identified as one of the six key pillars in shaping the digital economy strategy. This underscores the importance of supporting SMEs in achieving the objectives of the digital economic strategy.
The State Minister of Technology, acknowledged the prevalent challenge of limited digital education among SMEs, especially those outside major urban centres like Colombo and Kandy. In response, DigiGo will serve as a guiding resource, enabling SMEs to explore available digital platforms and fully embrace the advantages of going digital. The program plans to host quarterly DigiGo events in all 25 districts by 2030, ensuring the widespread dissemination of digital knowledge.
With the recent launch of DigiGo, Minister Herath emphasized its role in promoting awareness about digital transformation and the benefits it offers to all SMEs in Sri Lanka. The DigiGo digital playbook, unveiled during the launch, serves as a unique platform showcasing a wide array of available digital services, creating opportunities for business growth and expansion in the digital sphere. The inaugural event, scheduled to commence on October 20th in Galle, is planned to expand its reach to all 25 districts through collaboration with local business communities. FITIS, in partnership with the Ministry of Technology and various public and private stakeholders, will facilitate these sessions, aimed at empowering SMEs to embrace the digital era and unlock their full potential.
In a significant development, Ms. Chio Kenda, the World Bank Country Manager for Maldives and Sri Lanka, unveiled the “DigiGo Innovate Digitally to Succeed” initiative during her speech. She underscored the potential for digital development to address both global and local challenges, emphasizing its role in job creation, market expansion and the enhancement of access to finance. As Sri Lanka navigates its way out of an economic crisis and sets forth on the path to recovery, the strategic development and implementation of a national business strategy by 2030 are deemed crucial steps.
On a global scale, the digital economy presents substantial opportunities for SMEs to make significant contributions to national incomes. In the year 2023, business-to-consumer e-commerce recorded sales of nearly US $6 trillion. With over 1.7 million SMEs propelling economic growth in Sri Lanka and driving employment, they collectively represent approximately 90% of all businesses in the country. They are responsible for providing 45% of the nation’s employment opportunities and contribute to almost half of the country’s GDP.
However, SMEs, whether on a global scale or in the Sri Lankan context, face distinctive challenges when it comes to embracing digital transformation. These challenges include constraints related to limited resources, knowledge and digital expertise. Such limitations hinder the potential for business growth, innovation and the attainment of economic and social inclusivity. To address these common challenges, the Digital Goal Programme has been established as a collaborative endeavour, featuring active participation from the private sector, government and local stakeholders, with the essential support of relevant partners.
In her address, it was disclosed that the World Bank takes pride in its role as a knowledge partner in this digital program and applauds the central focus on decentralizing SMEs within the upcoming national digital strategy. The institution has committed to providing on-going technical support to both the government and the private sector as they collaborate to shape the 2030 strategy for a digital Sri Lanka. These collaborative efforts are aimed at boosting economic competitiveness, fostering skills development and ultimately facilitating the creation of higher-paying jobs within the country.
The inaugural DigiGo event, which is regionally planned, is scheduled to take place on October 20th in Galle, under the guidance of Dr. Ramesh Pathirana, Minister of Industries & Plantation Industries, and Kanaka Herath, State Minister of Technology. The World Bank’s support for this event underscores its commitment to advancing Sri Lanka’s digital transformation in alignment with the nation’s digital economy strategy.
Mr. Indika De Zoysa, Chairman of FITIS, unveiled the ground-breaking DigiGo initiative, highlighting the myriad opportunities it offers through digital technologies. DigiGo, from data analytics to e-commerce, aims to provide SMEs with a platform for knowledge sharing, featuring insights from industry experts and thought leaders on emerging trends, best practices and strategies driving digital innovation.
SMEs, which contribute 52% to Sri Lanka’s GDP and represent over 75% of businesses, have long been the backbone of the economy, offering 45% of employment and contributing 20% to exports, as per the Asian Development Bank (ADB). Acknowledging their pivotal role in the nation’s economic revival, the government has designated them as a key pillar in the “Digital Economy Strategy 2030.” DigiGo is poised to propel Sri Lanka’s digital economy by bridging the technology-business gap, fostering a thriving digital ecosystem, with a special focus on the 1 million+ SMEs across the island.
The event was attended by Professor Gihan Dias, a founder member of DigiGo, Omar Sahib, President of the FITIS Digital Services Chapter, Chief Executive Officer of LankaPay Chandran De Silva and other officials.
Colombo (LNW): President Ranil Wickremesinghe is set to depart for China tonight (15) to participate in the 3rd Belt and Road Forum for International Cooperation, revealed the President’s Media Division (PMD).
His official visit to China will span from 16th to 20th October.
In his absence, the duties of the ministries he oversees will be provisionally handed over to the relevant state ministers and a cabinet minister.
Under this arrangement, State Minister Pramitha Bandara Tennakoon will assume the role of Acting Minister of Defence, State Minister Ranjith Siyambalapitiya will be the Acting Minister of Finance, State Minister Kanaka Herath will be both the Acting Minister of Technology and Acting Minister of Investment Promotion, State Minister Anupa Pasqual will serve as the Acting Minister for Women, Children Affairs and Social Empowerment, and Minister of Wildlife and Forest Resources Conservation, Pavithra Wanniarachchi, will be the Acting Minister of Environment starting from the 16th, a statement by the PMD added.
