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

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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

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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

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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

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  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.

K. B. K. Hirimburegama sworn in as the new Ombudsman before the President

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 K.B.K. Hirimburegama, a retired High Court Judge, was sworn in as the Parliamentary Commissioner for Administration (Ombudsman) in the presence of President Ranil Wickremesinghe at the Presidential Secretariat this afternoon (04).

The appointment was made with immediate effect by the President under Article 156(2) of the Constitution of the Democratic Socialist Republic of Sri Lanka and Section 3(1) of the Parliamentary Commissioner for Administration Act No. 17 of 1981.

Secretary to the President Saman Ekanayake was also present on this occasion.

Fuel quota increased for Festive Season

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By: Isuru Parakrama

Colombo (LNW): The existing fuel quota will be increased with effect from midnight today (04), revealed Power and Energy Minister Kanchana Wijesekara.

The move comes in for the Sinhala and Tamil New Year season.

As previously planned, the Ceylon Petroleum Corporation (CEYPETCO) has ordered and procured the necessary stocks of fuel for the increased quota, the Minister noted.

He added that the Three Wheel (Special) category – registered taxis, have been allocated extra fuel allocations.

Local apparel sector demand declines amid liquidity and interest rate risks

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By: Staff Writer

Colombo (LNW): Sri Lanka’s exports of clothing totaled US $ 778.4 million in January–February 2023, a decline of 16.8 percent from the US $ 935.6 million in exports during the same period of the previous year. Due to the global economic recession in February 2023, its exports of clothing fell by 14.7 per cent.

The island nation’s textile exports for the first two months of 2023 climbed by 9.1 per cent year-over-year to US $ 60.5 million.

The central bank’s ‘External Sector Performance’ report states that over the same time period, exports of other made-up textile items totaled US $ 16.8 million, a decrease of 21.6 per cent.

Apparel and textile exports dropped by 2.32 % YoY to $ 483.35 million in February 2023. Though earnings from exports of apparel decreased by 14.75%, earnings from export of textiles increased by 146.67% in February 2023 compared to the same period in 2022.

Earnings from the exports of industrial goods declined in February 2023, compared to February 2022, with a substantial share of the decline being contributed by garments.

Reduced demand from major markets for garments due to unfavourable economic conditions globally mainly contributed for this outcome.

The slowdown in demand in major apparel markets and the rising borrowing costs have begun to take toll on the local apparel makers’ financial profiles as they are facing tight liquidity, weak interest coverage and leverage in their balance sheets.

Fitch Ratings last week downgraded Hela Apparel Holdings PLC, the only listed apparel maker in Sri Lanka, which has diversified its operations well into the African continent.

Fitch cut the company’s rating by a notch to ‘AA-‘ from ‘AA’ with the revising outlook to Negative, considering the risks of prolonged weakness in demand for apparel in key markets such as the United States and Europe and potential supply chain issues, which it said could delay improvement in profitability.

In the three months to December 2022, Hela Apparel reported revenue of Rs.21.8 billion, up by a solid 44.8 percent from the same period in 2021, but posted a net loss of Rs.1.68 billion from a profit of Rs.452.2 million a year ago as borrowing costs surged.

The finance cost more than tripled to Rs.1.09 billion between the two quarters reflecting the sharp rise in borrowing costs both at home and abroad.

“The business requires high working capital for growth, while profitability is challenged by weakening global demand. The high interest-rate environment is also pressuring liquidity with high borrowing costs,” Fitch Ratings said.

Hela has access to diversified funding as it recently raised US$ 14 million from Norway-based Norfund to fund its African operations.

“This supports Hela’s funding access compared with that of many other Sri Lankan corporates amid the country’s risk,” Fitch added.

Hela’s well diversified operations also reduces its operational risk as it has 10 manufacturing facilities spread in Sri Lanka, Kenya, Ethiopia, and its latest in Egypt.

SL’s first ‘Biotechnology Innovation Park to come up in Pitipana, Homagama

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By: Isuru Parakrama

Colombo (LNW): Sri Lanka’s first Biotechnology Innovation Park is set up at a 13.2-acre facility in Pitipana, Homogama.

The Sri Lanka Institute of Biotechnology (SLIBTEC) will collaborate with the U. S.Government’s development arm, the U. S. Agency for International Development(USAID), to promote innovation in the biotechnology sector by establishing Sri Lanka’sFirst Biotechnology Innovation Park.

The SLIBTEC Biotechnology Innovation Park will be a 13.2-acre facility in Pitipana,Homogama that will house high-end biotechnology innovation and manufacturing firms.

An on-site research facility will provide a centralized multidisciplinary research and service facility, with initial areas of research in Biopharma, Biofuel, Agro Biotech, and other emerging fields.

The park will become a center point of innovation in biotechnology in Sri Lanka and will attract investments and partnerships from local and international firms. By unleashing change through bio-innovation, SLIBTEC expects to increase Sri Lanka’s hi-tech exports by at least 1%.

Following the signing of a Letter of Cooperation with USAID’s PARTNER project, senior official of the treasury stated that“SLIBTEC Park and SLIBTEC Research Facility will open doors in Sri Lanka and internationally for multidisciplinary research and hi-end biotech development.

This will facilitate and promote innovation in all spheres of biotechnology, including medical, agricultural, and industrial sectors. This will also usher in a new era for sustainability, as well as facilitate the creation of a more technologically advanced nation.”

To support the development of the park, the Ministry of Finance worked closely with USAID to secure technical expertise through USAID’s PARTNER project. SLIBTEC will use this support to develop the operational framework that will help it to develop a modern business model based on international best practices.

PARTNER will also provide support in areas such as the park design, research management policy, and training opportunities.

“As one of Sri Lanka’s longstanding development partners, USAID has provided development and humanitarian assistance to Sri Lanka for more than six decades, making substantial investments in almost every sector.

This will ensure the country’s potential in biotechnology is pursued, promoted, and developed,” said Reed Aeschliman, USAID Mission Director for Sri Lanka and Maldives.

“The socio-economic impact of this investment to Sri Lanka will be significant as it creates jobs, increases innovation, and promotes entrepreneurship.”SLIBTEC Pvt Ltd was incorporated in October 2020 as a government-owned entity.

The Treasury is the sole shareholder and the Secretary to the Treasury is the SLIBTEC Chairman. USAID’s PARTNER project is a $19 million, five-year initiative to facilitate trade and strengthen government efficiency to fuel broad-based economic growth.

It will support the Government of Sri Lanka’s vision for economic development and improved international trade.

This project is one component of the longstanding partnership between the American and Sri Lankan people to support self-reliance and promote a healthy, educated, and employed population. To find out more about USAID’s work,

LAUGFS slashes LP gas prices

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By: Isuru Parakrama

Colombo (LNW): Private LP gas vendor LAUGFS has announced that it will reduce the prices of domestic gas cylinders with effect from midnight today (04).

Accordingly;

  • The price of a 12.5 kg domestic gas cylinder will be slashed by Rs. 1,290 and it will be sold for Rs. 3,990.
  • The price of a 5 kg gas cylinder will be slashed by Rs. 516 and the new price will be Rs. 1,596.

The decision comes in following the announcement of the state vendor LITRO on slashing LP gas prices.

Every divisional secretariat to receive ‘Satellite Campus’: Free ‘Robotics Course’ for 165,000 students

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By: Isuru Parakrama

Colombo (LNW): The 15th branch of “DP Coding School” and “DP Coding and Robotics Campus”, subsidiaries of “DP Education”, was opened in Nuwara Eliya on March 25 by Dhammika Perera, Co-Founder of DP Education, as part of a pilot project undertaken by the free education platform introduced by the Dhammika and Priscilla Perera Foundation.

During the last five months, free education centres of this kind were established in 14 places across Sri Lanka, namely, Kataragama, Sella Kataragama, Tissamaharama, Debarawewa, Ambalantota, Baddegama, Galle, Aheliyagoda, Anuradhapura, Welikanda, Dambana, Haputale, Mullativu and Arugambe.

The 15th branch of the “DP Coding School” and “DP Coding and Robotics Campus” was established in Sri Seethawanarama Temple, Badulla Road, Katuwana, Nuwara Eliya.

Growing the network aiming free education of computer language and robotics for the children of Sri Lanka, these branches will spread into all 331 divisional secretariats within the next three years, enrolling 500 students per centre and covering a cadre of 165,000 students islandwide, Perera told LNW.

7,000 computers will be installed across these branches of “DP Coding School” and “DP Coding and Robotics Campuses”, making it possible for underprivileged children in Sri Lanka to access free computer language courses within their constituencies, he emphasised.

He revealed that four robots will also be installed in every branch of “DP Coding and Robotics Campus” for the education of the children.

Meanwhile, Sri Lanka’s largest “Robotics Lab” is currently under development in Homagama, Colombo, and Perera added that he intends to provide free robotics courses to anyone interested in the field, including university students.