1. President Ranil Wickremesinghe says the proper implementation of the government’s policy programme would lead to economic prosperity surpassing the goals set by the IMF; stresses the need for collective efforts to address the concerns raised by the youth regarding the country’s economy and their future; asserts they can rectify the mistakes of the past.
   
2. President Ranil Wickremesinghe once again declares the supply of electricity, the supply or distribution of petroleum products and fuel, and health services as essential services via special gazette: Previously, the President had made multiple announcements from August 2022 to February 2023 declaring these services essential.
   
3. A Parliament statement reads the Atomic Energy Board of Sri Lanka said that the country’s first nuclear power plant can be built by 2032 with technical support from Russia: The announcement made at the Sectoral Oversight Committee on Energy and Transport.
   
4. The government prints another Rs. 189 billion to “pay its debts” on May 15: Under CBSL Governor Weerasinghe, “money printing” so far has been a staggering amount of Rs. 1,061 billion, more than one trillion rupees in just over one year: Analysts point out this amount had to be printed without even having to pay for the foreign debt due to bilateral and private creditors and after increasing taxes by 200%; warn of severe economic collapse.
   
5. President Ranil Wickremesinghe appoints three new provincial governors: Lakshman Yapa Abeywardena Governor of Uva; P.S.M. Charles Governor of North; Senthil Thondaman Governor of East.
   
6. Pastor Jerome Fernando, who calls himself the ‘Prophet of God’ and is a leading advocate for the Glorious Church of Colombo, Sri Lanka, says he will return to Sri Lanka on Sunday: Fernando is currently under a CID probe over his comments allegedly instigating religious disharmony: Ex President Mahinda Rajapaksa denies allegations of having ties with either Fernando or Zimbabwean Pastor Uebert Angel, the ‘Godfather’ of the modern prophetic movement, but acknowledges that Fernando met him once during his tenure as the Prime Minister and the Minister in charge of Religious Affairs.
   
7. The World Rugby Council suspends Sri Lanka Rugby from World Rugby membership with immediate effect, in response to concerns about the governance of the SLR and a breach of the World Rugby by-laws relating to political interference.
   
8. Senior Consultant Physician at the IDH Dr. Ananda Wijewickrama says irrespective of the speculations that the dengue epidemic could strike by June, Sri Lanka had already reached the epidemic threshold; adds the worst is yet to come; warns it is imperative that people should be cautious and take prompt steps to prevent mosquito bites.
   
9. Labour and Foreign Employment Minister Manusha Nanayakkara says neither the IMF nor any other organisation instructed to amend the labour laws, and therefore, no document has been prepared on labour law reforms; adds the Ministry is seeking public views related to the amendment of labour laws before going to the media and commenting on the revision of labour laws.
   
10. Three of four charges against SL Cricketer Danushka Gunathilaka relating to the alleged sexual assault of a woman dropped by Downing Centre Local Court, Sydney, Australia: Prosecutor for the Director of Public Prosecutions tells the court that one charge certified but the remaining three counts of sexual intercourse without consent withdrawn.

By: Staff Writer

Colombo (LNW):Sri Lanka’s construction sector was badly hit by the current economic crisis exploring the possibility of finding overseas building construction contracts in a bigway.

There are ample opportunities abroad. For this, the Ceylon Institute of Builders (CIOB) has requested the EDB to communicate with the Central Bank and facilitate cross border guarantees and capital expenditure.

There are ample opportunities abroad. For this, the CIOB has requested the EDB to communicate with the Central Bank and facilitate cross border guarantees and capital expenditure.

CIOB has also requested that our overseas embassies should find opportunities in their respective countries and help Sri Lankans to gain work. Appointing a business attaché for this purpose may be necessary.

Sri Lanka faces the unemployment of 650,000 direct workers (many being from the poorest classes of society) and copious small, medium and large contractors to face bankruptcy, which includes over 4000 SME sector contractors and about 50 major contractors have reached standstill.

CIOB has also requested that our overseas embassies should find opportunities in their respective countries and help Sri Lankans to gain work. Appointing a business attaché for this purpose may be necessary.

Sri Lanka faces the unemployment of 650,000 direct workers (many being from the poorest classes of society) and copious small, medium and large contractors to face bankruptcy, which includes over 4000 SME sector contractors and about 50 major contractors have reached standstill.

Sri Lanka’s construction sector is in a deep crisis as contractors are in owed 150 billion rupees in arrears on work carried out for the state, head of National Construction Association of Sri Lanka (NCASL) said amid slowing business in construction after the country’s economic crisis.

Sri Lanka has temporarily halted imports of building materials in its latest list of over 300 items from August 23 until further notice.

Some industrial machinery including metalworking machinery, packing machines and ball bearings have are in the list.

“Even though many projects were started during the previous government, due to not being able to complete the payments, the whole construction industry is in a great financial crisis,”Susantha Liyanaarachchi told reporters

The crisis is mainly because of unsettled due payments by the government to construction contractors amounting up to 150 billion rupees, he said.

Sri Lanka’s construction sector was badly hit by the current economic crisis exploring the possibility of finding overseas building construction contracts in a bigway.

There are ample opportunities abroad. For this, the CIOB has requested the EDB to communicate with the Central Bank and facilitate cross border guarantees and capital expenditure.

CIOB has also requested that our overseas embassies should find opportunities in their respective countries and help Sri Lankans to gain work. Appointing a business attaché for this purpose may be necessary.

Sri Lanka faces the unemployment of 650,000 direct workers (many being from the poorest classes of society) and copious small, medium and large contractors to face bankruptcy, which includes over 4000 SME sector contractors and about 50 major contractors have reached standstill.Chairman and Reviving of Construction Industry.

The Public Health Inspectors’ Union (PHIU) has issued a dire warning about an impending health crisis due to the lack of Covid-19 testing at the grassroots level. In a special statement today (May 17), PHIU President Upul Rohana stressed the urgent need for the public to adhere to health guidelines to safeguard their own safety.

Rohana highlighted that there is a widespread viral illness, including cases suspected to be Covid-19, particularly within schools and other institutions, resembling an epidemic. He emphasized that responsible action is crucial at this moment.

It is imperative to revisit and strictly follow the previously introduced Covid-19 prevention guidelines, such as frequent handwashing, maintaining respiratory hygiene, limiting unnecessary gatherings, and wearing face masks, Rohana emphasized. These measures will help protect individuals’ health.

Expressing concern, Rohana stated that there is currently no reliable system to confirm cases at the grassroots level, leaving uncertainty about whether the situation is due to Covid-19 infections or has the potential to escalate into an epidemic catastrophe. The infection is only confirmed when patients are hospitalized or in cases of fatalities, leading to suspicions that Covid-19 may be spreading to some extent at the community level.

In light of this, strict adherence to all previously issued health guidelines is paramount for safeguarding lives, Rohana asserted. It is crucial for both the public and authorities to address the testing backlog promptly to accurately identify and manage Covid-19 cases, mitigating the risk of a widespread health crisis.

By: Staff Writer

Colombo (LNW):The Ceylon Electricity Board (CEB) is to revise electricity tariffs on 1 July in accordance with the new electricity price formula.

Power and Energy Minister Kanchana Wijesekera said it has been prepared in accordance with the electricity tariff revision, which should be done twice every year, on January 01 and July 01, following the process of submitting government policy decisions and electricity tariff revision proposals.

The actual electricity generation data and electricity sales data, actual fuel, coal and other raw material prices, the 2023 power generation plan and power requirement, and the maximum benefit of the electricity tariff revision were considered by the CEB when preparing this proposal.

He said the proposal has been prepared with the aim of providing electricity to consumers who use less electricity.

Power and Energy Minister Kanchana Wijesekera announced that the proposal of the Ceylon Electricity Board (CEB) to revise electricity tariffs on 1 July has been handed over to the Public Utilities Commission of Sri Lanka (PUCSL) recently.

The move came after the PUCSL Chairman Janaka Ratnayake demanded an immediate 20% reduction in electricity tariff citing a drop in demand, lower exchange rate and fuel prices as compelling and justifiable reasons for such a move.

Taking to Twitter he said the CEB submitted the proposal according to the Government’s policy decision and tariff-filing requirements to adjust the tariffs biannually on 1 January and 1 July.

Minister Wijesekera noted that the CEB has taken into consideration the actual generation data, the actual price of inputs, the generation mix and the forecast for 2023.

He said according to the proposal, the CEB has given the maximum benefit of adjustments to low-consumption users.

Ratnayake last week revealed that according to the tariff requested by CEB on 5 January, CEB had estimated an electricity demand of 16,520 GWh for 2023, expecting a revenue of Rs. 722 billion from energy sales.

However, PUCSL forecasted a generation demand of 15,031.42 GWh for 2023. “Our demand forecast has been proven right by actual demand for January to April and reduced demand forecasted by CEB for the rest of the year. According to CEB’s revised demand forecast, total demand for the year 2023 will be 15,377 GWh which is very close to the demand that we forecasted early this year,” Ratnayake pointed out.

As per Ratnayake, the latest forecast by CEB shows a reduction of 6% from the initial forecast on 5 January. “Actual data shows in months March and April, the actual generation to be 10% and 8% less than the initial forecast by CEB,” he added.

Accordingly, the latest forecast is also on the higher side and actual demand for 2023 can be even lower.

“Therefore, the actual total revenue of 2023 for the distribution licensees could be lower than Rs. 658 billion. If we were able to implement PUCSL’s staff-recommended low tariff hike, we wouldn’t need frequent tariff revisions and such low tariff will ensure and stimulate the economic activities while ensuring CEBs yield sufficient revenue,” Ratnayake told journalists last week.

In an effort to provide relief to patients, the Minister of Health, Keheliya Rambukwella, has revealed that comprehensive measures are underway to decrease the cost of medicines in Sri Lanka over the next three weeks. The minister expressed his directive to health authorities to promptly implement strategies that leverage the strengthening of the Sri Lankan Rupee against the US dollar, ensuring tangible benefits for patients.

Minister Rambukwella emphasized that plans have been put in motion to achieve a substantial reduction of 10 to 15 percent in medicine prices. Acknowledging the significance of this initiative, officials from the Price Control Unit of the National Medicines Regulatory Authority (NMRA) are scheduled to convene on Wednesday (17) to discuss the matter.

The Price Control Unit, responsible for overseeing drug pricing regulations, will diligently analyze the data on the depreciation of the dollar. Following their assessment, they will compile a comprehensive report to be presented to the Health Minister, outlining the proposed revision of drug prices.

By addressing the affordability of medicines, the Ministry of Health aims to alleviate the financial burden on patients and ensure equitable access to essential healthcare. The proposed reduction in medicine prices is anticipated to have a positive impact on the healthcare sector and improve the overall well-being of the Sri Lankan population.

In response to recent discussions circulating on certain social media platforms regarding People Bank’s alleged non-performing loan write-offs, the bank’s management has issued a firm denial, categorically stating that such claims are entirely false.

With the aim of dispelling any doubts or misconceptions, the bank’s management asserts that none of the loans mentioned in the aforementioned forums have been written off. The statements circulating in social media groups regarding People Bank’s non-performing loans are unfounded and lack any basis of truth.