By: Staff Writer

Colombo (LNW): Supreme Court anticipatory bail application filed on behalf of Prophet Jerome Fernando has been dismissed by the judiciary yesterday. However Prophet Jerome was not present at the court as he was now in Singapore. CID and financial investigation unit of the central bank are conducting investigation in to money laundering charges against him.

Controversial Prophet Jerome Fernando currently facing allegations of defaming religions including Buddhism and amassing unaccountable wealth is to be arrested following his return to the island from Singapore owing to the overseas travel ban issued against him, official sources revealed.
A fundamental rights petition has been filed by a group including Venerable Elle Gunawansa Thero and several others at the Supreme Court seeking the issuing of an order to the IGP and the respondents to arrest Pastor Jerome Fernando for making a statement that is offensive to religions and to enforce the law against him.

Prophet Jerome Fernando has been alleged of leading luxurious life dressing in luxury brands such as Gucci and Tom Ford, using funds collected by the church for his personnel needs, several public interest activists complained.

When his ‘spiritual father’ Uebert Angel was exposed by the Al Jazeera Investigative Unit (iUnit) for money laundering using his diplomatic status in the Zimbabwean government, Prophet Jerome came under the radar of Inland Revenue Department but no inquiry has been initiated due to lack of evidence and public complaints, IRD sources disclosed .

Two senior IRD officials confirmed that Prophet Jerome Fernando is not paying any taxes to the government and especially his records cannot be detected at the moment as his NIC number or personnel details were not available at the IRD.
Further Prophet Jerome’s outfit Glorious Church management has not been given any tax exemption under any conditions up to now. Further as an individual he has to declare his assets and wealth if there are any under the Inland Revenue Act.

But no taxes would be imposed with regard to any place of religious worship under the Inland Revenue Act, senior IRD official said adding that Prophet Jerome’s outfit has not been classified as a place of religious worship.

By tradition, temple property was exempt from all taxation or any form of revenue if they are registered at the government as a religious site. But this exemption is only for the monks.

Most of the other places connected to religious work have to pay taxes even if they are registered. Because exemption from taxes comes under a certain ordinance and these institutions are not included in it, two IRD officials confirmed.

Glorious Church as a Ministry has fulfilled all regulatory requirements and pay all taxes to the Government, management of the church said.

Gold prices in Sri Lanka have witnessed a notable increase due to the recent uptick in the Dollar rate, according to local gold merchants.

As a result of the depreciation of the Sri Lankan Rupee, the price of a 22-karat sovereign has surged to Rs. 155,000 in the local gold market as of today (June 16). This marks a significant rise from the previous rate of Rs. 147,000 when the Sri Lankan Rupee experienced appreciation.

Similarly, the price of a 24-karat gold sovereign has also witnessed an upward trend, reaching Rs. 175,000. Previously, the price had dipped to Rs. 160,000 in the local gold market.

The fluctuating Dollar rate, coupled with the depreciation of the Sri Lankan Rupee, has impacted the gold market in Sri Lanka, causing prices to rise. These developments serve as a reminder of the interconnectedness of global currency dynamics and their influence on commodity prices, including gold.

By: Staff Writer

Colombo (LNW): Sri Lanka central bank in a surprise move, slashed the standing deposit facility rate and standing lending facility rate by 250 basis points– to 13 percent and 14 percent, respectively, from 15.5 percent and 16.5 percent recently.

It was the first unscheduled, rate cut after three years, and it also marks the biggest one-time cut since then to give the economy a jolt in the face of concerns about the present economic crisis.

Although the fundamentals of the US economy remain strong, “the coronavirus poses evolving risks to economic activity,” the central bank said in a statement.

The financial markets are functioning normally, the economy continues to perform well, and that the island nation expects to fully recover after the economic down turn ends following social- economic and political stabilization.

The emergency rate cut came as somewhat of a surprise: Although the stock market soared Monday in expectation of a rate cuts sometimes back, the central bank had seemingly dismissed the notion till the imposing of latest rate cut.

The licensed commercial banks are now compelled to bring down the lending rate for businesses following the relaxation of the Central Bank’s monetary policy stance.

The central bank expressed confidence in bringing down the inflation to a single digit soon as it is now moving towards the target range much earlier than expected, supported by the currency appreciation, the decline in the fuel and petroleum prices and global prices. .

Inflation, which hit a new high of about 70 percent in September last year, is decreased to 25.2 percent in May 2023 from 35.3 percent in April 2023 and, government revenues are increasing with tax reforms.

The central bank has allowed the rupee to appreciate from around Rs. 360 to the US dollar in March to around Rs 290 to the US dollar up to now without intervening the market enabling the monetary authority continues to build reserves.

It has bought dollars amounting to US$ 662 million in May and a total of net purchasing was in the region of $ 1,671 up to now to build reserves preventing excessive volatility.

The Colombo stock market has regained momentum with investor sentiment getting a boost from the central bank policy rate cut.

After several sessions of subdued investor activity, the market took a buoyant note as investors drew inspiration from the unprecedented 250bps policy rate cut announced by the CBSL several market dealers divulged.

More importantly, this move highlighted a significant shift by the CBSL, breaking away from a tight monetary stance maintained for almost two years,” they said.

”The central bank now expects the Average Weighted Prime Lending Rate AWPLR to decline to 11% by 2023, compared to previous forecast of 15%, and the CPI headline inflation to ease to 5% by 2023, down from our previous forecast of 9.8% as the policy rate cut will help lower the cost of borrowings and stimulate domestic demand,” several finance ministry top officials said.

The Central Bank now appears to be leaning more towards rebooting growth while keeping monetary authority closer tab on the hard won economic stability, which until recently was given priority when making policy decisions.

Banks will transmit and bring down, specially the lending rates to businesses,” they said calling for faster pass through of the policy action via banks to help realize Central Bank’s expectations for the economy.

Although the central bank had earlier projected 2.0 percent contraction in the economy in 2023, it now expects the growth to land somewhere close to zero level by the end of the year supported by the growth expected in the back half of the year, potentially fully offsetting the contraction projected for the first half.

In a significant development, the Ministry of Finance, Economic Stabilization & National Policies has published a Gazette Extraordinary confirming the closure of two state departments. The official announcement, made on Tuesday (June 13), outlines the conclusion of the liquidation process for the Internal Trade Department and the Department of Telecommunications.

The Internal Trade Department, initially established under the Consumer Protection Act (No. 01 of 1979), has now been dissolved following the enactment of the Consumer Affairs Authority Act, No. 9 of 2003. With the establishment of the Consumer Affairs Authority, the functions of the Internal Trade Department have been absorbed, leading to its closure.

Similarly, the Department of Telecommunications has undergone a transformation. It has transitioned into a corporation through an incorporation order issued under Section 02 of the State Industrial Corporation Act, No. 49 of 1957. This conversion was previously announced and documented in the Extraordinary Gazette No. 596/11 of 06 February 1990.

The closure of these state departments signifies a shift in administrative structures and streamlining of operations within the government. The decision to dissolve the Internal Trade Department and reconfigure the Department of Telecommunications into a corporation reflects ongoing efforts to enhance efficiency, improve service delivery, and adapt to changing needs in the respective sectors.

By Zachary Shahan

There’s something lovable and adorable about tuk-tuks. But my goodness, they sure can be dirty vehicles — in terms of the pollution they emit. The great thing they have going for them is that they’re small and should be easy to electrify.

Naturally, most of us don’t see tuk-tuks in our everyday life. However, there are millions upon millions on the roads of some countries, and all of those tuk-tuks make their own notable impact on the climate and air pollution where they operate.

Sri Lanka is one of those countries, and it is now looking to do something about this problem. Within the next 5 years, Sri Lanka plans to convert half a million fossil-fueled tuk-tuks to electric tuk-tuks. The island country hovering just south of India currently has about 1.2 million tuk-tuks on the road.

Sri Lanka’s Ministry of Transport and Motorways, its Ministry of Electricity and Energy, and the United Nations Development Program (UNDP) are the bodies behind this electrification plan. The transition will occur in three stages: an incubation phase, a demonstration phase, and an acceleration phase.

The incubation phase involves converting 200 tuk-tuks to electric powertrains in Pettah and Makumbura, suburbs of the capital city of Colombo. As far as what and who can qualify for inclusion in this phase, a Sri Lanka newspaper, Sakshi Post, writes: “For the incubation phase, a number of criteria have been introduced for selection vehicles and owners. These criteria include: the age of tuk-tuk should not be greater than 10 years from date of manufacture, only petrol 4-stroke three-wheelers are eligible, priority would be given to applicants whose livelihood is dependent on a single three-wheeler, and preferential selections are to be given to women owners, operators and persons with disabilities.”

Part of the inspiration for this electric tuk-tuk program was a fuel crisis in the country and the growing cost of fossil fuels. “Unable to import necessary fuel, nearly 500, 000 tuk-tuk drivers who were solely dependent on hires became jobless with weeks long queues in last year,” Sakshi Post writes.

“With the prevailing socio-economic crisis in the island, a shift towards adopting sustainable mobility approaches has been identified as a necessity for a green recovery process,” the UNDP stated in May. “This pilot project is a part of UNDP’s Green Development Portfolio, which is currently being developed. This portfolio aims to build solutions and support Sri Lanka’s development in catalysing low-carbon, green, and inclusive development within which sustainable transportation and e-mobility play a key role,” UNDP’s Resident Representative in Sri Lanka, Azusa Kubota, added.

“Electric three-wheelers will not only benefit individual operators but also contribute to spring boarding the country’s economic recovery process,” Transport and Highways Minister Bandula Gunawardena said.

We’ll see how this electrification plan goes and keep CleanTechnica readers updated and educated. Perhaps the guys at RACEnergy can also help Sri Lanka to electrify tuk-tuks at some point too, including the convenient use of its battery swapping technology

cleantechnica.com

In the aftermath of the tragic Easter attack in April 2019, a police sergeant stationed at the Katana Police Station has been relieved of his duties due to his failure to fulfill his assigned responsibilities.

An initial investigation conducted by the police scrutinized the actions of the sergeant during the critical period. The findings of this preliminary inquiry revealed significant shortcomings in the performance of his duties, leading to disciplinary charges being filed against him. The sergeant faced a total of 12 counts of violations related to his conduct during the incident.

During the initial hearing, the sergeant pleaded guilty to all charges, prompting the Inspector General of Police (IGP) to take decisive action. Considering the gravity of the sergeant’s negligence and his admission of guilt, the IGP made the decision to terminate his employment, effectively removing him from his position within the police force.

The dismissal of the sergeant serves as a reminder of the importance of upholding duty and responsibility during times of crisis. The authorities remain committed to ensuring that all individuals entrusted with maintaining public safety are held accountable for their actions, particularly in the face of such devastating events.

1. LKR plummets further: crashes by a massive Rs.30.99 or 10.4% in just 8 days from Rs.297.94 on 06.06.2023 to Rs.328.93 by 15.06.2023: State Finance Minister Siyambalapitiya asserts the authorities are “managing well” and there is no need to worry, since the price of the dollar is decided by supply and demand: Forex market participants in a major panic.
2. Department of Census and Statistics reports the economy contracted by a staggering 11.5% in the 1st Quarter 2023: Agriculture grew by 0.8%: Industries shrank by 23.4%: Services contracted by 5%: under CBSL Governor Weerasinghe, Sri Lanka’s last 4 quarter growth has been as follows: 2Q2022: -8.4%, 3Q2022: -11.8%, 4Q2022: -12.4%, and 1Q2023: -11.5%.
3. Transport Minister Dr. Bandula Gunawardena laments no one gives loans now to Sri Lanka because of the non-payment of its loans: further laments that as the Transport Minister, he can’t lay asphalt on roads or make an anicut or repair a broken culvert or repair a collapsed bridge: complains that neither the ADB nor the World Bank gives even 5 cents.
4. President Ranil Wickremesinghe & Public Security Minister Tiran Alles participate at the inaugural event at the Homagama Divisional Secretariat to accept online applications for passports at 51 Divisional Secretariats islandwide.
5. Latest report issued by FAO/WFP Crop and Food Security Assessment Mission states that at least 3.9 million people or 17% of the population in SL is in moderate acute food insecurity.
6. Attorney General informs Appeal Court that the CID is conducting investigations against Pastor Jerome Fernando under the Money Laundering Act.
7. Supreme Court refuses to grant “Leave to Proceed” in 2 Fundamental Rights petitions filed against the restructuring of Sri Lanka Telecom.
8. Secretary to the President Saman Ekanayake informs archaeological expert Ven. Dr. Ellawala Medhananda Thera that the land belonging to the historical Kurundi Viharaya in Mullaitivu is a Govt land and that no decision has been taken to distribute it to anyone: President Ranil Wickremesinghe refutes media reports claiming that he is going to settle a group of Tamil people within the land belonging to the Kurundi Viharaya in Mullaitivu.
9. Sri Lankan Ambassador in Russia Janitha Liyanage says Sri Lanka has reached a deal with Russian Nuclear Giant Rosatom to build a nuclear power plant that may run two reactors and generate 300 megawatts of energy.
10. Asian Cricket Council announces that the Asia Cup-2023 will be held from August 31 to September 17 & hosted in a hybrid model with 4 matches being held in Pakistan and the remaining 9 matches being played in Sri Lanka.

It is learnt that Dr.Vinoba, Senior lecturer of the Department of Zoology, Eastern University, who had applied for the post of Vice Chancellor of University of Jaffna has been appointed as a member of the Board of Directors of National Aquatic Resources Research and Development Agency (NARA) on 12.06.23, by Douglas Devananda, Minister of Fisheries. Reports of the Dr. Vinoba’s appointment as NARA member has raised eyebrows as he was the main person on behalf of the Eastern University mediating the terms and conditions of the MoU signed between Eastern University and Chinese University in April this year.

Speculations are rife that appointment of such an individual will definitely strain the bilateral relations between India and Sri Lanka as he was spearheading the MoU between Eastern and Chinese University. NARA is reportedly involved in making various environmental reports and there are all possibilities that he may tweak the reports in favour of Chinese companies due to his association with China. This entire issue has caused lot of apprehensions among the public, parties and students.

It is also reported that Fisheries Minister held a discussion with NARA officials on 13th June and asked to give reports if sea cucumber farms can be set up in Mullaitivu, where there is none till now. NARA officials have also reported in affirmative that sea cucumber farms can be established. While there are already 268 sea cucumber farms in Jaffna, 277 farms in Kilonochchi and 123 farms in Mannar, now Mullaitivu is also being eyed. Despite scientifically proven that these marine farms cause irreparable damage to the environment sea cucumber farms continue to be set up causing a major problem in the north.

The sea cucumbers grow in these sea cucumber farms, are for exports. Seaweeds also fetch good prices in the international market. None of the local fishermen have benefited from it.

At the administrative level, the Chinese government is making all efforts to make inroads into the Jaffna University. Chinese Yunnan University sent an invitation to the Vice Chancellor of Jaffna University on the 9th of May seeking participation from Vice Chancellor, University of Jaffna for the yoga day to be held in China on the 21st. It sought a confirmation before 29th May. When the Vice-Chancellor did not respond till 22nd of May, on 23rd the Fisheries Minister’s personal secretary intervened and urged the Vice Chancellor to respond to the Chinese request for his participation. Defying all this, the Vice Chancellor went to Japan.

There are concerns that the appointment of a senior professor who is considered pro-Chinese as a member of NARA could lead to a conflict between India and China.

During a ceremony held at the Homagama Divisional Secretariat, President Ranil Wickremesinghe launched the online issuance of passports and reaffirmed his commitment to safeguarding freedom of expression. Notably, he highlighted the repeal of the criminal defamation law, a progressive step that sets Sri Lanka apart from other countries in the region.

President Wickremesinghe underscored the importance of the proposed Electronic Broadcasting Regulatory Commission Act, which aims to provide recourse to individuals who have suffered harm due to electronic media. He emphasized that this approach is employed worldwide and has instructed the inclusion of guidelines from the United Kingdom’s electronic media regulations in Sri Lanka’s implementation.

Furthermore, the President announced an ambitious digitization initiative to be implemented across all government sectors. The objective is to establish comprehensive facilities where the public can conveniently access all essential documents, ranging from birth to death, in a single location. As part of this initiative, passport applicants will benefit from a simplified online application process available through 51 Divisional Secretariat offices spanning all 25 districts of the island.

Expressing his vision at the event, President Wickremesinghe stated, “Today, we embark on the process of issuing passports through an online system. Concurrently, our nation’s digitalization efforts are rapidly advancing. Our goal is to implement digitization in all sectors of the country in the coming years.”

The President further addressed concerns and assured the public that freedom of expression would not be compromised. He highlighted the need for mechanisms to address harm caused by the media and emphasized the importance of providing relief to affected parties. President Wickremesinghe instructed the Attorney General to align the proposed regulations with UK standards to benefit from precedents and ensure fair decision-making.

Minister of Public Security Tiran Alles, who oversees the Immigration Department among other institutions, spoke about the progress made in streamlining public services. He emphasized the successful elimination of lengthy queues at the Immigration Department through the implementation of digitization. Minister Alles also unveiled a new fee structure for passports, offering expedited processing options to enhance convenience for applicants.

In the future, plans are underway to establish a comprehensive service center at the Suhurupaya building, providing individuals with a centralized location for obtaining all necessary documents, from birth certificates to death certificates.

Several spells of showers will occur in Western, Sabaragamuwa and North-Western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts.

Showers or thundershowers may occur at a few places in Uva and Eastern provinces during the evening or night.

Strong winds about (40-45) kmph can be expected at times in Northern, North-Central and North-Western provinces and in Hambantota and Trincomalee districts.

General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershower.