Former CB Governor Ajith Nivard Cabraal says the present Govt and the Central Bank have “outsourced” the economic management of the country to the IMF: laments that the the most important macro-fundamental indicator of “Growth” is blatantly ignored by the present Govt at the behest of the IMF, and the people are seriously affected by the contracting economy.
NPP & JVP Leader Anura Kumar Dissanayake says SL is now in the clutches of the IMF which functions under the USA, just as it was under British colonial rule where SL had no freedom or sovereignty to decide on its taxation or fiscal policies: asserts that when professionals questioned about the PAYE tax, the President and CB Governor admitted they couldn’t do anything about it and that the matter should be dealt with the IMF.
Netherlands Ambassador Bonnie Horbach says around 3,000 items which were “collected” during the colonial period may be in museum vaults in the Netherlands: says that as a part of the recent policy of the Dutch Govt to return the stolen artefacts to their rightful owners, researchers from former colonies will be granted access to those collections: more than 13,000 items of value have been documented as being pillaged & stolen by Western Colonial Powers during 443 years of Colonial rule from 1505 to 1948.
Karapitiya Teaching Hospital Consultant Psychiatrist Dr Rumi Ruban says there’s a risk of memory loss among children due to severe addiction to mobile phones and the internet.
Agriculture Minister Mahinda Amaraweera says the poultry association has reduced the price of chicken by Rs.100 per kg: also says the import tax of Rs.75 per kg of maize has been reduced to Rs.25 by the Govt and that can be considered as the reason for the reduction.
Ministry of Health says 50 more types of drugs that are in short supply will be imported within the next 2 weeks: currently, there is a shortage of 230 medicines in the medical supply sector.
Finance State Minister Ranjith Siyambalapitiya says the review of the budget proposals will start from August 28: asserts the next budget will provide the necessary facilities to move the country’s economy from bankruptcy to positive: certain officials of the Govt & CB announced the country’s debt default on 12April’22.
Asian Development Bank Country Director Takafumi Kadano reaffirms the ADB’s commitment to bolster the recovery of stressed SMEs: praises Sri Lanka’s dedication to rebound from the economic crisis: analysts point out that the Govt’s and IMF’s contractionary economic policies & debt default have severely crippled SMEs & more than 60% of the SMEs have already closed down or are facing imminent closure.
State Minister for Primary Industries Chamara Sampath Dasanayake says gem and jewellery exports have recorded an income of USD 315 mn year-to-date, & recorded a growth of 34%, reaffirming its vital role in strengthening the economy.
Tourism Development Authority says 109,954 tourists visited SL during the first 23 days of August’23, 191% higher than in August 22, in the immediate aftermath of the Aragalaya.
Colombo (LNW): The generation of hydro power might face a standstill after a further period four weeks, were the prevailing arid weather conditions to continue, warned the Ceylon Electricity Board (CEB).
As of now, hydro power generation has dropped by 15 per cent, and the supply of power remains uninterrupted due to thermal power generation.
The water capacity of Samanala Wewa reservoir has dropped to 01 per cent, and those of Castlereigh reservoir, Victoria reservoir and Maussakele reservoir to 21 per cent, 25 per cent and 35 per cent, respectively.
Colombo (LNW): The National Strategic Plan prepared by the University of Sri Jayawardenapura for the modernisation of the entire public university system has been handed over to the Committee on Public Enterprises (CoPE).
This was when the University of Sri Jayawardenapura was called before the CoPE on August 22 under the chairmanship of MP (Prof.) Ranjith Bandara.
In compliance with a recommendation given by the CoPE on March 24, 2023, the National Strategic Plan prepared by the University to modernise the entire public university system had to be presented to the Committee.
Education Secretary Nihal Ranasingha, Senior Professor Sampath Amaratunga, Chairman of University Grants Commission, Vice Chancellor of the Sri Jayawardenepura University, Senior Prof. M. M. Pathmalal and others were called before this Committee.
The Committee Chair stated that the responsibility of preparing a national strategic plan to modernise the state university system was handed over to University of Sri Jayewardenepura because it had a prestigious name for management and it should be considered as an honor given to that university by Parliament.
The CoPE Chief further stated that he would like to express his special thanks to the Ministry of Education, the Vice Chancellor of the Sri Jayawardenepura University, the University Grants Commission and the team led by Senior Professor Disa Bandara.
Senior Professor Disa Bandara pointed out that since each university has its own unique circumstances, it is possible to work according to this draft by paying attention to all those things.
The Committee informed the Education Secretary to appoint a task force within two weeks and give a report in this regard, in the background where the university system in this country is at risk of collapsing. The CoPE Chair also pointed out that small groups of students should not be allowed to bring down the entire universal system. Moreover, the CoPE Chief said that the University Grants Commission also has a responsibility to maintain the quality of the universities.
Furthermore, Prof. Bandara the CoPE Chief pointed out that about 50% of the universities in this country should become research universities.
Although there should be 12992 university professors, currently, only 6548 professors are employed, the Chairman of the University Grants Commission said. He also pointed out that since the same situation can be seen in the non-academic staff, it should be resolved.
With the economic crisis in the country, it has become a problem for professors to leave the country and at least 1000 professors should be recruited Chairman of the University Grants Commission further said.
State Minister Jagath Pushpakumara, Shantha Bandara, MPs Dayasiri Jayasekara, Eran Wickramaratne, Upul Mahendra Rajapaksha, Madhura Withanage, Prof. Charitha Herath were present at the Committee meeting held.
Colombo (LNW): The Central Bank of Sri Lanka (CBSL) which recently declared its utmost commitment for the cracking down of unlawful schemes said it has recently received many public complaints indicating that some schemes operating through online platforms are misleading investors int depositing money / investing in these schemes by stating factors such as indicated below, in an attempt to justify that they are lawful:
The scheme is protecting investors’ funds by adhering to the regulations of CBSL;
The scheme is paying the relevant taxes to the Government;
Participants of the schemes have to pay a personal income tax from their funds to CBSL, in order to withdraw funds and if not, their funds would be frozen by CBSL;
The scheme has had discussions with CBSL.
In response, the CBSL said it strongly denies the above statements and wishes to inform the public that there is no truth in these statements.
The list of institutions licensed and regulated by CBSL is included in the CBSL website and the website of the Foreign Exchange Department and can be accessed through the following links.
The CBSL further advised public to please be vigilant and alert of these type of schemes, and not to engage with or invest in such schemes as the public is likely to lose hard earned money through being involved with such schemes.
PMD: The State Minister of Women and Child Affairs Mrs. Geetha Kumarasinghe emphasized that steps will be taken to provide formal training for pre-school teachers in order to boost early childhood development.
The state minister also pointed out that the government has focused on providing a salary for pre-school teachers as well.
These statements were made by the State Minister of Women and Child Affairs, Mrs. Geetha Kumarasinghe, during her participation in a press conference at the Presidential Media Centre (PMC) today (25) under the theme ‘Collective Path to a stable country’.
State Minister of Women and Child Affairs Geetha Kumarasinghe further said;
The government has paid more attention to the health of the children. Also, efforts are being made to raise the nutritional status of children. The government has already taken steps to launch a special nutrition program for children diagnosed with malnutrition. The government is also working to provide money to low-income families suffering from malnutrition to enable them to get nutritious meals. Arrangements have been made to provide financial assistance to identified families through the divisional secretaries located throughout the island.
Running pre-schools should be subject to certain regulations. The initial mental state of children is created by preschools. No one cares much about early childhood. That is why the government has decided to provide formal training to pre-school teachers. As in countries like Japan and Switzerland, the training level of preschool teachers should be brought to a higher level. It is also necessary to send them to such countries and provide them with proper training.
When starting a pre-school, it should be done under a legal framework. The pre-school teacher should be a graduate. They require their own specialized training. Some preschools have teaching assistants. Maybe that assistant was someone who had appeared for the regular exam. They have the experience of working with the head teacher for a long time. Therefore, we are negotiating with the Ministry of Education to provide them with good training as well as a salary. The mind of the teacher should be right. It also helps to increase the development of early childhood.
Some mothers leave their newborn babies on the streets. In other instances, they are killed. Do not do that. Give them to us. It is difficult to establish new child care centres based on the current economic situation. But attention is being paid to a system of taking care of children by creating separate places in government hospitals. Discussions are underway with the Ministry of Justice and the Ministry of Health in this regard.
Violence against women and child abuse in this country has risen to an alarming level. It has been suggested to conduct awareness programs on child abuse at the school level. When a schoolgirl or child is sexually assaulted, she hesitates to tell her parents. Maybe they will prefer to tell it to her best friend whom she trusts more. Therefore, schoolchildren should be consulted by programs on how to deal with this matter.
There are loopholes in the law regarding the abuse of women and children. Some women do not want to report such incidents to the police when they get abused. They feel ashamed when they go to present the complaint in public. In that regard, separate cubicles and women police officers have been deployed in every police station. Therefore, special attention and protection should be given to dealing with such women. Also, regarding the victimized women, the media should focus on acting under self-discipline in such a way that no one is prejudiced.
The previous program of providing nutritional support for pregnant mothers is being continued. Arrangements have been made to provide nutritional support to mothers registered in government maternity clinics. For this year alone, the government has allocated Rs. 11 million to provide nutritional support to pregnant mothers.
Colombo (LNW): The heat index is expected to increase up to ‘caution’ level at some places in North-Central, Uva and Eastern Provinces and in Vavuniya and Mullativu Districts today (27), the Natural Hazards Early Warning Centre of the Department of Meteorology said in a statement.
The public is urged to stay hydrated and take breaks in the shades as often as possible, check up on the elderly, the sick and the children, limit strenuous outdoor activities, and wear lightweight and white or light-coloured clothing.
Meanwhile, a few showers will occur in Western and Sabaragamuwa provinces and in Galle and Matara districts, and showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts during the evening or night, the Dept said in its daily weather forecast today (27).
Mainly fair weather will continue elsewhere over the Island, the statement added.
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:
A few showers may occur at a few places in the sea areas off the coast extending from Colombo to Matara via Galle.
Winds:
Winds will be south-westerly and speed will be (25-30) kmph. Wind speed may increase up to (45-50)kmph at times in the sea areas off the coast extending from Hambantota to Pottuvil, and from Puttalam to Trincomalee via Mannar and Kankasanthurai.
State of Sea:
The sea areas off the coast extending from Hambantota to Pottuvil and from Puttalam to Kankasanthurai via Mannar may be rough at times.
Sky News: Embattled Spanish football chief Luis Rubiales has been provisionally suspended by FIFA for 90 days in the wake of the World Cup kissing row.
He grabbed player Jenni Hermoso and kissed her on the lips during the awards ceremony following Spain’s 1-0 victory over England last Sunday in Sydney, Australia.
FIFA said it had suspended Mr Rubiales “from all football-related activities at national and international level”.
He has also been ordered not to contact or to attempt to contact Hermoso for the duration of his suspension.
“This suspension, which will be effective as of today, is for an initial period of 90 days”, pending the disciplinary proceedings against Mr Rubiales.
The decision by FIFA came amid an escalating row.
Hermoso, a 33-year-old forward, said “in no moment” did she consent to the kiss. She and her teammates have vowed not to play for Spain again – days after winning the World Cup for the first time.
The country’s football federation has stood by its president, who says the kiss was consensual, and threatened legal action to defend him.
In a lengthy statement issued earlier Saturday, the federation showed a series of images it claimed show Mr Rubiales was not lying.
“Mr President’s feet are ostensibly lifted from the ground as a result of the player’s action,” the statement said.
“The tests are conclusive. Mr President has not lied.
“The RFEF and Mr President will demonstrate each of the lies that are spread either by someone on behalf of the player or, if applicable, by the player herself.”
The statement threatened legal action, saying that playing for the national team “is an obligation for all members of the federation if they are called up”.
The federation said it regretted the row was taking away from the World Cup success it wanted to celebrate.
‘I won’t resign’
Mr Rubiales claimed the kiss was “mutual” and “with consent” at a meeting of the Spanish football federation’s general assembly on Friday.
He added he was the victim of a witch-hunt by “false feminists” after rapidly repeating “I won’t resign” five times.
In the version of events Mr Rubiales gave to the assembly, he said Hermoso had lifted him up in celebration and he asked her for “a little kiss?” and she said yes.
“The kiss was the same I could give one of my daughters,” Mr Rubiales said.
He said that he would defend his honour in court against politicians, including two ministers, who called his kiss an act of sexual violence.
Spanish football’s ‘Me Too’?
Mr Rubiales cannot be sacked by the government, but the head of the state-run sports council, Victor Francos, says it will use a legal procedure in a sports tribunal.
“We want this to be a ‘Me Too’ of Spanish soccer, ” Mr Francos said.
People have gathered outside the Spanish Soccer Federation in Madrid to protest against Mr Rubiales, with some carrying banners or holding up red cards.
Before the kiss, he had grabbed his crotch in a lewd victory gesture from the section of dignitaries at the stadium, with Spain’s Queen Letizia and the 16-year-old Princess Infanta Sofia standing nearby.
The controversy has overshadowed the final and Spain’s first triumph in the global tournament.
The team arrived back in Madrid after delivering heartbreak to England – with Olga Carmona’s first-half goal proving too much for the Lionesses.
Hermoso started the match in the World Cup final in Sydney, but was denied the chance to get on the scoresheet after her penalty was stopped by England goalkeeper Mary Earps.
Recent revelations have brought to light the construction of 23 new Buddhist temples in the Kuchaveli area of the Trincomalee district, reportedly intended to serve a population of only 238 Sinhalese individuals residing across 10 Grama Sevaka units. This development has prompted concerns about the motivations behind building these temples in areas with notably low Sinhalese populations.
The context behind the establishment of these new Buddhist temples in regions with a minimal Sinhalese presence is crucial for understanding the situation. The decision to permit the construction of these temples in the Kuchaveli area was made during the tenure of President Gotabaya Rajapaksa.
Observers have interpreted this situation as potentially contributing to communal tensions and exacerbating ethnic divisions. Moreover, critics argue that this approach runs contrary to the principles of Buddhism itself.
According to available statistics, out of the 23 planned temples, 9 are slated for construction in areas with a Muslim majority, while 14 are designated for areas with a Tamil majority across the 10 Grama Sevaka domains.
These developments raise concerns about the implications for ethnic dynamics in the North. In light of these circumstances, questions emerge about the feasibility of finding solutions to the ethnic issue and ensuring power-sharing for Tamil-speaking communities.
The situation underscores the importance of fostering dialogue, understanding, and respect among different ethnic and religious groups to promote peaceful coexistence and equitable representation in decision-making processes.
NewsLanka:The Exclusive Launch of IUSL Campus was held at Cinnamon Grand Colombo on Tuesday. It was a revolutionary beginning of a new era of the higher education industry in Sri Lanka with the latest ultra-modern education system open to both local and foreign students. The campus will have online learning system where students can even be at home and study either in Sri Lanka or any part of the world. The opportunity and capacity is large and can be catered to a large number said Professor Prabath Weerasinghe Vice Chancellor of the University. He said we will approach world-wide student segments to enroll at IUSL with a supplementary aim of supporting the national economy.
He said, “Now the gateway is opened to any student to be qualified in higher education in a range of subjects they chose and based on a chosen career path. IUSL will make a revolutionary change in the education paradigm of Sri Lanka creating regional universities known for geographical identities, catering unique industrial requirement and allowing prospective students in specializing the geographical industries, preparing for the brightest future. International University of Sri Lanka (IUSL Campus) will offer a unique educational experience designed to enhance intellectual growth and promote participatory engagement.
He also said that knowledge, creativity and hands-on experience will be coupled at the IUSL which is a revolution in Sri Lanka’s learning system.
IUSL’s learning system is unique and has adopted based on the ancient teaching – learning systems deeply explored by the expert team for years. In the past Buddhism and education were integrated and well educated pundits lead the culture of profound education platform which helped learners to inherit a prosperous country for future generations.
A veteran in the field of philosophy and a mentor for many Buddhist educational reforms, Prof. Ven. Uthurawala Dhammarathana thero is acting as the Chancellor of IUSL.
Dilmy Ranaweera – Director of Academic Affairs of IUSL said “Today, we celebrate more than just the virtual expansion of our institution; we celebrate the boundless opportunities that this new campus brings to each and every one of us. This campus is a haven of knowledge, innovation, and growth. It is a place where dreams take shape, ideas flourish, and friendships are formed that will last a lifetime”.
“Today, we step into a realm where science fiction becomes reality, where machines not only assist us but also learn and adapt on their own – the fascinating world of Artificial Intelligence (AI) learning, mechatronics , cyber security you name it we have it. As we gather here, we embark on a journey into the cutting-edge domain that is transforming industries, shaping innovation, and redefining the way we perceive learning itself” added Ranaweera..
IUSL Campus will provide students with an enriched environment to nurture even greater learning experiences and this campus inspire to reach greater heights, to challenge conventions, and to contribute meaningfully to society.
The IUSL Campus comprises with 6 Faculties such as FACULTY OF ENGINEERING to Engineering Excellence -Inspiring Innovation and Shaping the Future, FACULTY OF HEALTH to Empowering Wellness and Advancing Healthcare, FACULTY OF BUSINESS to Empowering Leaders and Driving Innovation FACULTY OF ARTS to Cultivating Creativity and Inspiring Expression, FACULTY OF COMPUTING to Empowering Innovators and Shaping the Digital Future, FACULTY OF BUDHIST STUDIES to Nurturing Wisdom and Cultivating Compassion.
The Colombo Port City Economic Commission has marked a significant milestone in its mission to transform the Colombo Port City into a highly competitive special economic zone (SEZ) on the global stage. The Parliament of the Democratic Socialist Republic of Sri Lanka has granted approval this week to a comprehensive incentives program proposed by the Commission, developed in consultation with the Minister of Investment Promotion. This program outlines the guidelines for providing exemptions and incentives to businesses classified as Businesses of Strategic Importance (BSI). The details were published in Extraordinary Gazette No. 2343/60 on August 4th, 2023.
Established under the Colombo Port City Economic Commission Act, No. 11 of 2021, the Commission is strategically focused on attracting international investors, enhancing economic stability, and positioning Sri Lanka as a key player in service exports. In line with the Act, the Commission has identified businesses crucial for the prosperity of the Colombo Port City and designated them as Businesses of Strategic Importance, proposing exemptions or incentives from the relevant statutes outlined in the Act.
To present an attractive proposition to potential investors, the Commission has engaged with renowned international advisory firms including PricewaterhouseCoopers, Ernst & Young, KPMG, and Boston Consulting Group. This collaboration has yielded a proposed framework that positions the Colombo Port City as a globally competitive SEZ, characterized by transparent regulations, adherence to good governance principles, and a range of sector-specific incentives.
The Colombo Port City’s Businesses of Strategic Importance are categorized into two main groups: “Primary Businesses of Strategic Importance” and “Secondary Businesses of Strategic Importance.” Primary businesses encompass initiatives involving a minimum of USD 100 million in physical infrastructure per land plot or USD 25 million in the Marina or Social Infrastructure development. Secondary businesses encompass a variety of sectors including international trade, shipping logistics, banking and financial services, information technology, and tourism, among others.
For “Primary Businesses of Strategic Importance,” the Commission has devised two optional incentive schemes. Scheme A provides exemptions or incentives from relevant regulations for a period of 25 years, coupled with a 50% reduction in the prevailing corporate tax rate for the initial 10 years following the 25-year period. Scheme B offers an enhanced capital allowance of 300% on depreciable assets utilized within the Colombo Port City, with deductions permissible for up to 40 years. Qualified Authorized Persons are required to select their preferred scheme at the outset.
In the case of “Secondary Businesses of Strategic Importance,” there are four different eligibility criteria for accessing incentives or exemptions. These criteria are based on revenue, employment generation, projected enterprise valuation growth, or substantial contributions to enhancing social development in Sri Lanka and the establishment of an international financial center within the Colombo Port City. Secondary Businesses of Strategic Importance will be eligible for exemptions or incentives from the designated statutes for a period of 25 years.
The Colombo Port City Economic Commission plays a pivotal role as the primary interface for investors, functioning as the Single Window Investment Facilitator. It aims to cultivate a business-friendly atmosphere within the Colombo Port City’s multi-service SEZ and is steadfast in its commitment to fostering a thriving ecosystem that attracts global investments and fuels sustainable development in Sri Lanka.
