Home Blog Page 1342

SLT Chief clarifies his position over reports on welcoming a luxury vehicle

0

By: Isuru Parakrama

Colombo (LNW): Mr. Rohan Fernando, Chairman of Sri Lanka Telecom PLC clarified on reports on him receiving a luxury vehicle, stating that the said vehicle is provided by the Company not on a demand or personal request by him but to the position itself.

Speaking to LNW, Mr. Fernando clarified that in the case of current vehicle used by the state telecommunication service provider’s chief a suitable vehicle was sourced in 2020 as the existing vehicle, a Land Cruiser V8 was over six years old and had clocked closed to 300,000 km requiring major repairs.

Below is the full statement made with LNW by the SLT Chief in response to the reports:

Chairman’s vehicle is provided by the Company and not on a demand or personal request by the Chairman.

In the case of current vehicle used by the chairman a suitable vehicle was sourced in 2020 as the existing vehicle a Land Cruiser V8 was over six years old and had clocked closed to 300,000 km requiring major repairs.

When checking the prices they (Company) found that Land Cruiser V8 prices as a replacement to be 10 million Rs more than Range Rover prices.

I was only asked whether it’s OK by me to go for the cheaper option and if so to inspect the vehicle as it was imported one year before by a private car importer.
The old Land Cruiser allocated as the chairman’s vehicle was sold by auction and I believe it yielded 23 Million Rs. Hence the total outflow needs to calculated taking this amount as well.

As the Chairman of SLTMOBITEL I use only one official vehicle and at night it’s parked at Mobitel premises.

When in such situation and when the official vehicle is sent for service or repairs I use my private vehicle.

On the contrary the Chairman before 2020 had a fleet of vehicles for his use as well as back up vehicles for security provided by the PSD.

Now this should clear the picture from my side but anyone can check with the Company

Why or should a vehicle be given to the chairman of the second largest market cap listed entity, running at best profits and categorized amongst the 10 best Companies in SL.

What should be the ideal vehicle a Chairman should be given to use considering travel to far corners of the island including remote locations such as Kytes and Delft islands where Company installations and switches are located.

Is it the public or board of directors who should decide this issue in the first instance.

I am sure all procedures and board approvals have been received by the Company procurement sections in this regard.

Has their been a fraud or alleged fraud in the purchase of the vehicle and if so what legal action could be instituted as opposed to writing stories in social media.

South Korea shall provide more job opportunities for Sri Lankan youth

0

A high-ranking representatives of the well-known South Korean company ”Hyundai”; stated that it is expected to provide more job opportunities to Sri Lankan youth in South Korea. This was stated when the said representatives met with the Hon. Ajith Rajapakse, Deputy Speaker yesterday (04).

A delegation including the Chief Executive Officer (CEO) of Hyundai Marine Company, Mr. Kim Byong Boo, who came to Sri Lanka to look into the interview process and training related to the selection of Sri Lankan youth for South Korean jobs, mentioned the above when they met the Deputy Speaker Hon. Ajith Rajapakse in Parliament.

The delegation stated that the youth of this country are highly skilled and they expect to bring more trained Sri Lankan youth for jobs in the country. They further emphasized that it is important for these workers to be disciplined young persons with good qualities.

The delegation pointed out the need for the government to intervene and provide proper vocational training in the country and send trained workers to South Korea as soon as possible without delay. It was also assured that the facilities and safety of the workers in South Korea will be provided to the maximum extent.

Accordingly, the delegation pointed out that there is a high demand for trained workers in the fields of ship construction and repair, electricians, welding etc. and they are entitled to high salaries. The Deputy Speaker Hon. Ajith Rajapakse addressing the gathering requested to provide support for the construction of a fully equipped training center for skilled workers in Sri Lanka.

He also said that in addition to professional skills, it is expected to provide an understanding of the Korean language, culture, etc. through this.
The delegation who expressed their interest for it pointed out that they expect to provide more job opportunities in South Korea to the talented youth of this country. Members of Parliament Hon. Weerasumana Weerasinghe and Hon. Sampath Athukorala, were also present on this occasion.

Sri Lanka explores the possibility of buying Russian oil & fertilizers

0

By: Staff Writer

Colombo (LNW): The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.

Colombo is negotiating a deal to buy discounted crude from Moscow, Sri Lankan Minister of Transport and Highways and Minister of Mass Media Bandula Gunawardana told Sputnik on Sunday.

“Sri Lanka today does not buy Russian oil and gas, but this issue is on the agenda of the Ministry of Power and Energy of our country, and in case of successful completion of discussions on this topic, a mutually beneficial agreement can be reached. Our authorities will discuss this issue with Russia,” the minister said.

Gunawardana added that Sri Lankan Ambassador to Russia Janitha Liyanage was still in talks with President Vladimir Putin’s government for a previously requested loan for purchasing fuel from Moscow.

The minister also assured Russia that its ships and personnel will not be arrested due to Western sanctions imposed on Moscow following the launch of its special military operation in Ukraine last February.

The minister revealed that Sri Lanka has already lifted the ban on chemical fertilizers and would like to buy them from Russia.

But he elaborated that the South Asian country would make payments in local currency because it doesn’t have dollars to pay for Russian fertilizer purchases.

President, Ranil Wickremesinghe, reversed this decision [to ban chemical fertilizers]. And fertilizers’ prices are now more affordable to the farmers, and it’s possible to consider [buying] fertilizers from Russia. It is way more economical,” he said.

Sri Lanka is pursuing the option of purchasing crude oil from Russia at discounted rates and has had several rounds of talks with Moscow in that regard, Foreign Minister Ali Sabry said.

“We have been disproportionately affected by the Russian conflict, so we pray and urge everybody to quickly and diplomatically and by dialogue resolve this. We have been affected big time in terms of petroleum, crude oil and coal prices, as well as grain prices and escalating prices of fertilizer,” said Sabry.

“These are lifelines for our people. There are 33 percent of Sri Lankans involved in agriculture,” he added.

The minister reiterated that the ongoing conflict between Russia and Ukraine has disportionately impacted Sri Lanka on top of its ongoing currency crisis, the worst in decades.

“On top of that, Russia and Ukraine both had been among our top 10 countries in tourism arrivals to Sri Lanka,” he said, noting that the two countries are two important export destinations for Sri Lanka as well.

CB maintains interest rates at current level with tight monetary policy.

0

By: Staff Writer

Colombo (LNW): The Monetary Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 per cent, respectively.

Having considered the recent and expected economic developments, and macroeconomic projections on domestic and global fronts, the Board viewed that the maintenance of the prevailing tight monetary policy stance is necessary.

It was of the opinion that that the monetary conditions must remain sufficiently tight to facilitate the continuation of the ongoing disinflation process amidst the improvements in market sentiments following the finalization of the Extended Fund Facility (EFF) from the International Monetary Fund (IMF) and the downward shift in elevated market interest rates reflecting the falling risk premia

Headline inflation (year-on-year) based on the Colombo Consumer Price Index (CCPI) continued to decelerate for the sixth consecutive month in March 2023.

Despite a sizeable impact from the recent hike in electricity tariffs and envisaged second round effects of previous hikes, headline inflation moderated in March 2023, mainly reflecting a larger-than-expected reduction in food inflation.

Meanwhile, core inflation also decelerated for the sixth consecutive month in March 2023, reflecting the continued moderation in underlying demand pressures in the economy.

A faster deceleration of inflation is expected from April 2023 with the reduction in domestic prices of essentials following the greater pass through of the moderation of global commodity prices and the recent appreciation of the Sri Lanka rupee, and the large disinflationary impact arising from the base effect.

A notable moderation in the yields on government securities was also observed driven by the improvements in market sentiments.

As the broader framework of the envisaged domestic debt optimization operation has now been made public, the large risk premia attached to the government securities are expected to dissipate in the near term, paving the way for other market interest rates that are benchmarked to the yields on government securities to moderate further.

The economy is projected to recover gradually towards the latter part of 2023, supported by improvements in domestic supply conditions, enhancement in business and investor sentiments along with the anticipated improvements in foreign exchange inflows, envisaged reduction of market interest rates, and the impact of policy measures being implemented to strengthen the growth outlook.

The recovery of activity is expected to sustain in the medium term underpinned by the implementation of the economic adjustment programme outlined in the IMF-EFF.

All Ceylon Canteen Owners Association Amends Food Prices Following Gas Price Reduction

0

In response to the recent reduction in gas prices in Sri Lanka, the All Ceylon Canteen Owners Association has announced a reduction in the prices of certain food items. Chairman of the Association, Asela Sampath, stated that the price of a rice packet, Koththu, and Fried Rice will be reduced by 20% from midnight on April 5th.

Asela Sampath also announced that the price of a cup of plain tea will be reduced by Rs. 10, with the new price being set at Rs. 30. Additionally, a cup of milk tea will now cost Rs. 90.

This decision by the All Ceylon Canteen Owners Association comes as a relief to many customers who have been struggling with rising food costs. With the reduction in gas prices, it is hoped that more canteens and restaurants will follow suit and reduce their prices.

The Association has called on all its members to implement the new prices as soon as possible to benefit customers. This move is expected to boost customer satisfaction and promote more business for canteens and restaurants.

The public is encouraged to check with their local canteen or restaurant for the updated prices of food items. The All Ceylon Canteen Owners Association has assured customers that they will continue to monitor prices and make necessary adjustments to support the public during these challenging times.

Sri Lanka to lose US$10 billion as compensation for the the X-Press Pearl Disaster

0

By: Staff Writer

Colombo (LNW): Time is running out for Sri Lanka to take legal action for the X-Press Pearl Disaster claiming environmental damage caused by the fire that broke when the vessel approached the Port of Colombo on May 19, 2021.

The Attorney General’s (AG) Department and the Justice Ministry have directed the Marine Environment Protection Authority (MEPA) to submit the final report compiled by an expert team detailing the environmental damage caused by the X-Press Pearl disaster.

The X-Press Pearl, caught fire on May 25 2021 and sank nine nautical miles off Sri Lankan waters on June 2, and was considered as one of the world’s worst marine disasters involving freighting chemical cargo.

The country faces the risk of losing US$ 10 billion in compensation if the Sri Lankan government did not take legal action within 45 days for the X-Press Pearl Disaster, the Centre for Environmental Justice (CEJ) claimed.

CEJ Senior Environmental Scientist Hemantha Withanage said that a new research report finds heavy pollution in the marine environment around the Xpress Pearl Shipwreck.

“The CEJ believes that under Sri Lankan law, the case to apply for compensation should be filed within two years of the incident, that is, before May 29, 2023. Now we have only 45 days remaining,” he said.

A statute of limitations sets the maximum amount of time that parties involved in a dispute have to initiate legal proceedings from the date of an alleged offence, whether civil or criminal. As such, instructions were issued to hand over the report within three weeks.

The Justice Minister also expressed annoyance that MEPA had sent the final report to an Australian firm hired as a legal consultant first without sending it to the Justice Ministry.

“The report should have come to the Justice Ministry first. It is then forwarded to the AG’s Department. That is the process. The move to first send the report to a foreign legal firm and ask for recommendations is highly suspicious and gives rise to claims that this is a deliberate delaying tactic,” the minister claimed.

The marine disaster involving the ill-fated X-Press Pearl,the vessel approached the port of Colombo on May 19, 2021, caught fire on May 25 and sank nine nautical miles off Sri Lankan waters on June 2, and was considered as one of the world’s worst marine disasters involving freighting chemical cargo.

“There were 1,486 containers in the vessel. 81 of them contained extremely hazardous chemicals harmful for the environment, and 349 contained epoxy resin.

Also, there were 6700 metric tons of various plastic pellets and other substances, including nitric acid.

They were burning for several days, causing marine pollution along the sea area in Negombo, around 750 km sea area around Sri Lanka, in other states located in the Indian Ocean, and in the sea and coastal resources as far as Somalia.

Another Stock of Imported Eggs Arrive in Sri Lanka, Awaiting Approval

0

Last night, on April 4th, a new stock of eggs was imported from India to Sri Lanka, according to the State Trading Corporation (STC). This brings the total number of imported eggs thus far to 4 million. The first stock of 2 million eggs arrived on March 23rd, while the second shipment carrying 1 million eggs arrived four days ago.

Although the second shipment has arrived, it is still awaiting approval from the Animal Production & Health Department. Samples from the third egg consignment that reached the island last night will also be referred to laboratories for testing later today, according to STC Chairman Asiri Walisundara.

Currently, the imported eggs are only distributed among bakery product manufacturers as they have not yet received approval to be sold for the general public. The long-awaited import of eggs comes after a shortage of eggs in the country, which resulted in a significant price increase in local markets.

It is hoped that the imported eggs will alleviate the shortage and help to stabilise prices. However, the Animal Production & Health Department must first grant approval for the eggs to be sold to the general public. The public is eagerly awaiting the government’s decision, hoping for a solution to the ongoing egg shortage.

Meteorology Department Predicts Direct Sunlight over Sri Lanka from April 5th-15th

0

The Department of Meteorology has released a weather report, stating that the sun will be directly over Sri Lanka’s latitudes from today, 5th April until 15th April. The department has provided details on the apparent northward relative motion of the sun and indicated that the sun will be directly over a few areas in Sri Lanka at noon today.

Thalpe, Walipitiya, and Thihagoda are the nearest areas to Sri Lanka where the sun will be overhead today at around 12:13 noon. Along with this information, the department has also predicted showers or thundershowers in several places in the Uva, Central, Southern, Sabaragamuwa, Western, North-Western, and North-Central provinces, as well as the Mannar and Vavuniya districts during the afternoon or night.

The Met Department has warned that some areas may experience fairly heavy showers above 50mm, and a few showers may occur in the Anuradhapura, Vavuniya, and Mannar districts during the morning. It has requested the public to take adequate precautions to prevent damage caused by temporary localised strong winds and lightning during thundershowers.

Furthermore, the department has predicted that showers or thundershowers will occur in several places in the sea areas off the coast extending from Mannar to Hambantota via Puttalam, Colombo, Galle, and Matara during the evening or night. Wind speed is expected to be (20-30) kmph, and winds will be south-easterly to south-westerly. The sea areas around the island will be slight. However, the department has warned that temporarily strong gusty winds and very rough seas may occur during thundershowers.

The Department of Meteorology is urging the public to remain vigilant and take necessary precautions during this period of direct sunlight and anticipated rain.

Ballot Papers used in the secret ballot to elect an MP to the office of President has been destroyed – Speaker

0

Hon. Speaker announced that the Ballot Papers used in the secret ballot to elect a Member of Parliament to the office of President has been destroyed


Hon. Mahinda Yapa Abeywardana, Speaker of Parliament stated that the Ballot Papers used in the secret ballot to elect a Member of Parliament to the office of President on the 20.07.2022 has been destroyed.
The Speaker announced that the Ballots were destroyed by the Secretary-General of Parliament following the procedure in terms of the provisions of Section 18 of the said Act and with the approval of the Committee on Parliamentary Business held on 24.03.2023.

Sri Lanka Original Narrative Summary: 05/04

0
  1. Apparel industry insiders say buyers’ orders have dropped by a massive 20-25%: also say the industry is facing tough times as it’s biggest players operate at half-capacity while some factories have closed.
  2. Catholic Bishops’ Conference urge the Govt to uphold the Constitution and ensure democracy: asks to desist from interfering with the independence of the Judiciary: says to preserve freedom of speech & expression of all citizens.
  3. CPC says the existing fuel quota has been increased for the New Year festive season as follows: 3-wheeler quota from 5L to 8L, Motorcycles from 4L to 7L, Buses from 40L to 60L, Cars from 20L to 30L, Land Vehicles from 15L to 25L, Lorries from 50L to 75L, Quadric Cycles from 4L to 6L, Special Purpose Vehicles from 20L to 30L and Vans from 20L to 30L.
  4. Supreme Court declares many clauses of the proposed Central Bank Bill as being inconsistent with the Constitution: directs Parliament to amend 39 clauses: one of the Petitioners against the proposed Bill Ms Jehan Hameed says the SC Order has ensured continued Parliamentary control of the nation’s finances.
  5. Central Bank says it’s gross official reserve including the SWAP facility from PBOC of USD 1.4bn, has risen to USD 2.7bn at end-Mar’23: IMF says Sri Lanka’s external debt due but not paid as at end-Dec’22 was USD 3.0bn: Monetary Board maintains policy interest rates at current levels of 15.5% and 16.5%.
  6. LMD-Nielsen Business Confidence Index regains some lost ground to register 72 points: however, it’s still 60 points lower than the level prevailing an year ago of 132 and 52 points below the all-time average of 124 points.
  7. Centre for Environmental Justice Senior Scientist Hemantha Withanage says Sri Lanka may lose compensation of around USD 10bn for the MV X- Press Pearl disaster, if the Govt does not take legal action within the next 45 days: also says a new report has found heavy pollution in the marine environment around the shipwreck.
  8. State Ministry of Primary Health Care, Epidemics and Covid Disease Control Secretary Dr. Amal Harsha de Silva says former President Gotabaya Rajapaksa’s involvement in Covid-control made it difficult for those engaged in it to function to their fullest capacity.
  9. Opposition Leader Sajith Premadasa says it is laughable that the Govt is trying to “buy over” SJB MPs by giving them Rs.20 mn each: asserts SJB MPs will never betray the masses: a few days ago, some media reports claimed that former Ministers Harsha de Silva, Kabir Hashim and Eran Wickremaratne were planning to cross over to the Govt.
  10. Indian Premier League (IPL) side “Gujarat Titans” acquires Sri Lanka’s ODI and T20I Captain Dasun Shanaka in place of New Zealand’s Kane Williamson, who was injured a few days ago.