By: Isuru Parakrama
Colombo (LNW): The Colombo Magistrate Court today (19) ordered the arrest of MP Wimal Weerawansa, as the NFF Leader failed to appear before Court in connection with an ongoing hearing.
The MP is accused of causing public distress by barricading the road in front of the United Nations Office and protesting during the arrival of former Human Rights Commissioner of the United Nations Prince Zeid bin Ra’ad in 2016.
The case was adjourned till September 11.
By: Staff Writer
Colombo (LNW): Prime Minister Dinesh Gunawardena pointing out the immense progress in women participation in almost every sector said it is imperative for Sri Lankan women to play a bigger role in decision making.
Speaking at the Thirteenth Top50 Women Global Economic Forum and Top50 Global Professional and Career Women Awards 2023 in Colombo on June 17, he said the outstanding achievements of women are all the more remarkable considering their immense contribution to realize humanity’s noblest and vital projects of sustainable development goals in their countries and beyond in this interdependent world.
He thanked Women in Management (WIM) and Women in Work (IFC) for celebrating achievements of a constellation of women economic leaders from around the world in this award ceremony which, will be an incentive for women in the field of economy in particular and women in general.
Congratulating the awardees, he said they have demonstrated through their life and work and their leadership in different spheres of economic activity, and their efforts, while contributing to the global economy, have boosted the cause of gender equality and women’s empowerment. “These women leaders have made a difference, not just a small difference but a big and critical one,” he said.
´Our awardees today are eminent women who have broken glass ceilings, have pushed the frontiers of women’s leadership and have paved the path for other women and girls to follow in their footsteps and become future leaders,” the Prime Minister stated and pointed out that these women leaders have become role models for their country women and girls and they provide inspiration to their gender across countries and continents.
He congratulated the organizers for selecting most appropriate theme, “Positioning Women’s Business Leadership at the Forefront of Sri Lanka’s Economic Recovery,” as the government is fully committed to the policy of gender equality and women empowerment.
By: Isuru Parakrama
Colombo (LNW): The Sri Lankan Rupee indicates an appreciation against the US Dollar today (19) in comparison to last week, revealed the official exchange rates of the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has decreased to Rs. 297.53 from Rs. 300.51, and the selling price to Rs. 315.12 from Rs. 319.66.
Meanwhile, the Sri Lankan Rupee has also appreciated against several other foreign currencies, including Gulf currencies.
Parliamentary Business related to the coming Parliamentary week to be held from June 20th to 23rd were decided at the Committee on Parliamentary Business held recently (Jun. 7) under the Chairmanship of the Speaker Mahinda Yapa Abeywardana.
On the 20th of June time from 9.30 a.m. to 10.30 a.m. has been allotted for Questions for Oral Answers and from 10.30 a.m. to 5.00 p.m the Second Reading of the Parliamentary Budget Office Bill has been scheduled be taken up.
Thereafter, the Balapitiya Sri Rahularama Purana Viharastha Samanera Akalpa Sangwardena Bikshu Vidyalaya (Incorporation) Bill has been scheduled to be taken up at 5.00 p.m.
Time from 5.00 p.m. to 5.30 p.m have been allotted for the Motion at the Adjournment Time brought by the Government.
On the 21st of June, the Second Reading of the Anti-Corruption Bill has been scheduled to be taken up from 9.30 a.m. to 5.30 p.m. Moreover, the Second Reading of Assistance to and Protection of Victims of Crime and Witnesses Bill and the Civil Procedure Code (Amendment) Bill has also been scheduled be taken up.
Thereafter, the Resolutions under the Essential Public Services Act as been scheduled to be approved without debate.
On the 22nd of June time from 9.30 a.m. to 10.30 a.m. has been allotted for Questions for Oral Answers and from 10.30 a.m. to 5.30 p.m. the Adjournment debate on the Address to the Nation by the Hon. President on 01.06.2023 brought in by the Opposition is scheduled be taken up.
The entire day of the 23rd of June has been set aside for Votes of Condolence on the late Members of Parliament. Accordingly, from 9.30 a.m. to 5.30 p.m. Votes of Condolence of the late Larine Perera, Reginold Cooray, Buddhika Kurukularatne, Muthu Sivalingam has been scheduled for the said day.
The Swiss Hotel Management Academy (SHMA) of A. Baur & Co. Pvt Ltd., also known as Baurs, recently signed an MoU with the nation’s leading professional body for fostering and creating HR professionals, the Chartered Institute of Personnel Management Sri Lanka (CIPM), to introduce and deliver a duo-blended programme for the country’s hospitality sector.
This is the first time that CIPM Sri Lanka is taking measures to provide a more specialized HR education, giving one an in-depth, hands-on sector related experience. And with the country experiencing a skills shortage in the hospitality industry, the emergence of this partnership comes as a timely initiative, enabling increased access to employment opportunities, specialization, upskilling knowledge, among others.
SHMA is the first hospitality management institute in Sri Lanka to offer an apprenticeship model. Based on the learn and earn approach, the programme consists of a two-day learning week, while the remaining days are training on the job at renowned star-rated hotels. This enables students to gain work experience during their studies, and provides organizations and institutions to upskill and reskill their employees.
Students can gain both the VET by EHL Hotel Professional Diploma as well as a certificate from CIPM Sri Lanka in this duo-certified programme, which is scheduled to commence in July this year. SHMA is licensed to deliver the VET by EHL program, from EHL Hospitality Business School founded as Ecole hôtelière de Lausanne and recognized as the world’s best hospitality management university.
With both SHMA and CIPM being the pioneers in their respective industry, students and professionals are assured of a quality and contemporary learning experience. SHMA and its reputation for delivering world-class hospitality education goes without saying. The facilitators at CIPM are also members of the institute with years of experience in the hospitality industry.
The signing ceremony was attended by Baurs Managing Director/CEO Rolf Blaser, Director of Finance and Compliance, Pavithra Samarasinghe, Dean of Academy SHMA Daniela Munasinghe, and Manager Sureeka Fernando. Representing CIPM Sri Lanka was its President Ken Vijayakumar, Vice President Priyantha Ranasinghe, Honorary Treasurer Col. Saman Jayawickrama, CEO U.A.C Obeyesekere, Director of Professional and Academics Affairs G. Weerathunga, Director Operations Himali Dassanayake and other council members and staffs.
A leader in HRM and the most recognized professional body in the HRM discipline on the island, CIPM Sri Lanka is a professional body affiliated with the Asia Pacific Federation of Human Resource Management and the World Federation of People Management Associations. It plays a significant role in developing, nurturing and elevating the HRM profession in Sri Lanka. It enrolls nearly 8000 students in the study programs yearly, among various other activities. The flagship program of CIPM is the Chartered Qualification in HRM (CQHRM), accredited by the CIPD UK.
SHMA aims to uplift the learning quality and standards in Sri Lanka by making it one of the most sought-after talent destinations for hospitality. Its Skills for Sustainable Growth (SSG) project together with Swiss Agency for Development and Cooperation (SDC) is one of such initiative that will drive the realization of this vision. Its recent collaborations with VTA Sri Lanka and Nestle Lanka among others goes onto show its efforts and the timely need for public-private partnerships in the sector, and the economy overall.
By: Staff Writer
Colombo (LNW): Sri Lanka is emerging from its crippling economic crisis through stabilization efforts of President Ranil Wickremasinghe’s government with foreign aid likely pouring in to the country from donor countries and International Monetary agencies
With few far reaching policy choices the President is looking at India and Japan with his latest visit to the country of the rising sun with the aim of attracting investment, banking on an IMF US $ 2.9 billion bailout package to facilitate access to bilateral and multilateral financial support to get the economy back on track.
The IMF’s four-year US$2.9 billion program provides limited provision of liquidity. What matters is the program’s ability to catalyze other official lenders, private investors and creditor’s confidence in coming to the assistance of debt ridden island nation
Sri Lanka’s president has said that the International Monetary Fund (IMF) has approved its request for a $2.9bn bailout and the country’s presidency claimed that the economic program will enable it to access up to $7bn in overall funding.
The IMF’s board confirmed it has signed off on the loan, which clears the way for the release of funds and kicks off a four-year program designed to shore up the country’s economy.
The decision will allow an immediate disbursement of about $333mn, the IMF said, and will spur financial support from other partners, potentially helping Sri Lanka emerge from its worst financial crisis in decades.
But IMF Managing Director Kristalina Georgieva warned that Colombo must continue pursuing tax reform and greater social safety nets for the poor – and rein in the corruption that has been partly blamed for the crisis
But the standard IMF policy prescription that demands stringent financial discipline means that adjustment costs will be front-loaded, preventing the government from spending its way out of recession. Accordingly, taxes are being hiked and expenditures are being cut to stabilize the economy. .
The Country’s economic growth slowed to an annualized and seasonally adjusted forecast to contract by 3 percent in 2023 as it continues to grapple with the challenge of debt restructuring and balance of payments difficulties.
The increase in gross domestic product — the broadest measure of economic activity — was far below economists’ expectations of minus 2 percent and represents a more moderate pace compared to last year ,according to data released by the Finance Ministry.
In the absence of large debt service payments, the authorities have been able to manage the outflows (mainly the import bill) with inflows such as exports, tourism and remittances since the second half of 2022, leading to balance of payment surpluses (please see the latest Sri Lanka Development Update for more details).
These surpluses helped an accumulation of official reserves (US$700 million by January 2023, excluding the currency swap with China), and an improvement in net foreign assets in the banking system (US$-4.3 billion in January 2023, up from US$-6.4 billion in April 2022).
In addition, the lack of demand for imports from the real sectors and increasing expectations of an approval of the IMF program, contributed to a rise in foreign exchange liquidity, including through the unwinding of speculative Dollar holdings.
The above factors have led to an appreciation of the LKR against the US Dollar from February 27, 2023, somewhat easing inflationary pressures.
The good news now is that the Sri Lankan economy is showing signs of stabilizing. A return to growth in Sri Lanka is expected next year—the latest International Monetary Fund (IMF) forecast released in April 2023 suggests a less severe economic contraction of -3.1 percent in 2023 and growth of 1.5 percent in 2024.
Year-on-year inflation fell to 35.3 percent in April 2023. But negative growth in 2022-2023 means job losses across the economy, a doubling of income poverty to 25 percent of the population (at US$3.65 per capital, 2017 PPP) and child malnutrition as many families are switching to less nutritious diets.
Responding to crisis-hit Sri Lanka’s urgent request for external financing pending an IMF Programme, India mobilized the largest bilateral aid package in its history.
This aid was motivated by the unfolding humanitarian crisis affecting the Sri Lankan people, worries about a flood of refugees across the Palk Strait, and political pressure from South India. Indian aid of about US$4 billion during the first half of 2022 flowed to Sri Lanka through credit lines, loans, and grants.
India’s aid to Sri Lanka in 2022 far exceeds bilateral aid to Sri Lanka by other development partners and has cemented its reputation as a key emerging donor. India also undertook quiet diplomacy for Sri Lanka’s IMF Programme and just extended a US$1billion credit line to Sri Lanka until March 2024.
By: Isuru Parakrama
Colombo (LNW): The Samagi Jana Balawegaya (SJB) has won the Galigamuwa Various Services Cooperative Society in its office election this year.
Accordingly, the SJB group has secured 23 out of 48 regional seats in the office election.
The Galigamuwa Various Services Co-Op Society has 98 seats, out of which 52 have been elected from the SJB group.
Suresh Somadasa serves as the SJB electorate organiser in Galigamuwa.
In a meeting with Sri Lanka’s State Minister of Irrigation Shasheendra Rajapaksa on Sunday, Ali Akbar Mehrabian pointed to the amicable historical relations between the two countries and expressed hope that the power plants being built by expert Iranian engineers in Sri Lanka will be inaugurated in the near future.
Emphasizing the revival and development of economic, political and cultural ties between Tehran and Colombo, Iran’s energy minister further pointed out that the two countries have many potentials to strengthen their bilateral ties in all fields.
He termed establishing a joint economic, political and cultural Cooperation commission for realizing the aforementioned objective “effective and constructive”.
Launch of the commission will help boost trade and economic activities between the two countries optimally, Mehrabian emphasized.
Elsewhere in his remarks, he highlighted the capabilities and potentials of Iranian companies in implementing projects in the water and electricity fields.
He also referred to the significance of the multipurpose and giant project of “Uma Oya” being built by expert Iranian manpower in Sri Lanka and added that the progress of this successful project by Iranian engineers is the result of the fruitful experience of cooperation between the two countries.
Source: Tasnim News
Colombo (LNW): The Sri Lanka State Engineering Corporation (SLSEC) has decided to sell land at Peliyagoda to pay salaries, arrears of salaries and Employees’ Provident Fund (EPF) contributions for its employees and the National Machinery and Equipment Authority, in the backdrop where the Construction Sector suffered a serious set back amidst the country’s worst economic meltdown.
With the set back, the SLSEC and its affiliates had lost their income, and the Corporation Chairman Ratnasiri Kalupaha said a Cabinet paper seeking approval to sell the aforementioned land for Rs. 10 billion had already been drafted.
Accordingly, the land of more than 17 acres adjacent to the Peliyagoda Fish Market will be sold for Rs. 10 billion, to settle the employees’ salaries, the Corporation Chief noted.
Protests have been escalating at the National Machinery and Equipment Authority, as its employees had been paid only Rs. 7,000 each as salaries in May, and the employees of the SLSEC had been paid only a part of their paycheque in May.
Corporation Chief Kalupahana disclosed that 1,100 employees who opted to retire alone should be paid Rs. 2,600 million.
By: Isuru Parakrama
Colombo (LNW): A pilot project of bus operations without conductors is set to undergo from July 01, 2023 covering all expressways in the country, revealed Transport Minister Bandula Gunawardena.
The move comes in in prevention of bus conductors pilfering revenue and in response to the operational costs of buses.
The Transport Ministry has decided to introduce this new service as a pilot project from July 01, and buses run by the Sri Lanka Transport Board will be adhered to the mechanism, in the hope of expanding the service islandwide following its success.
Under the new mechanism, SLTB buses around the country will be operated by the driver who will oversee the operation of the ticketing machine, the Minister noted.
The project will be initiated at the expressways from July 01, weeks after the detection of a racket where counterfeit tickets had been sold to 34 passengers on a SLTB bus on the Southern Expressway for the Matara-Makumbura route, charging Rs. 1,200 per ticket.
Meanwhile, the Transport Ministry is also working to introduce an e-ticket system for all local buses and trains in the next three months.
