Concerns were raised at the Sectoral Oversight Committee on Education stating that when those from the teacher service being absorbed into the In-Service Advisor service there is a disparity in the pay grade promised and the pay grade actually given. Thus, when being absorbed as an In-Service Advisor, the aggrieved parties stated that what they receive is below the Salary earned.

The said matters were taken into consideration at the Sectoral Oversight Committee on Education held recently (11) in Parliament Chaired by Hon. (Dr.) V. Radhakrishnan.

The Committee was of the view that appointments should be temporarily postponed until the matter is resolved because it is not just to be given a lesser amount than the Salary earned following years of service when being absorbed as an In-Service Advisor. Moreover, the The Hon. Sajith Premadasa, Leder of the Opposition who was present at the Committee meeting held inquired the officials what measures have been taken to fill the 1,982 vacancies existing in the In-Service Advisor positions. Moreover, the Leder of the Opposition inquired regarding the rising concern regarding the duties and scope of work of the positions of In-Service Advisor.

Accordingly, the Committee was of the view that while many issues are in existence, forcing teachers to accept being absorbed into the In-Service Advisor cannot be accepted and therefore need to be discussed further.

The Sectoral Oversight Committee on Education also took into discussion the suitable mechanism to monitor the Nursery Education and Nursery Schools in Sri Lanka. The official present stated that The National Policy for Pre-School Education was published on the website of the Ministry of Education for nearly a month for the purpose of obtaining public opinion. Accordingly, an Action Plan on the National Policy for Pre-School Education has so far been drafted with the participation of all relevant institutions and departments, the officials said.

The Committee was of the view that given that there are different policies operating provincially, bringing the Nursery Education and Nursery Schools under a national policy governed under one umbrella is required.

Moreover, in consideration of early childhood and nursery education, discussions were held regarding regulating private tuition classes during Sundays, public holidays etc. The Committee further highlighted that the contents of the syllabus need to be looked into as certain chapters even contain content which justify discrimination against women. The Committee thus recommended to consider these matters simultaneously along with the education reform programme.

The Committee also inquired about the progress of the Mid-day-Meal programme adopted at schools across the Country. The officials present stated that 1.8 million students are being given the lunch covering 7,926 schools.

Members of Parliament, the Hon. (Ms.) Rohini Kumari Wijerathna, the Hon. (Mrs.) Manjula Dissanayake and the Hon. (Prof.) Charitha Herath, were present, were present at the Committee while the Hon. Sajith Premadasa, Leder of the Opposition and the Hon. Chandima Weerakkody were present at the meeting by leave of the Chair of the Committee.

By: Staff Writer

Colombo (LNW): Land Values in Sri Lanka’s Colombo district went up 15 percent in the first half of 2023 from a year ago, according to an index compiled by the central bank.

Residential land values increased 17.2 percent, commercial land went up 15.1 percent and industrial 13.5 percent according to the Land Values Index (LVI).On a semi-annual basis the the index had gone up 4.9 percent.

“The highest contribution to this increase was from Residential LVI followed by Commercial and Industrial LVIs,” the CB statement said.

The Land Valuation Indicator (LVI) for the Colombo District has displayed robust growth in the first half of 2023 achieving a remarkable score of 215.3, according to its compiler, the Central Bank said.

The annual increase of 15.2% signifies a noteworthy expansion, reversing the declining trend observed in the LVI over the last two years.

The Central Bank said the rise in LVI has been attributed to consistent upticks across all sub-indicators; Residential, Commercial, and Industrial LVIs, each contributing significantly to the overall upward trend.

The respective annual increases in these sub-indicators were recorded at 17.2%, 15.1%, and 13.5%.

During the first half of 2023, LVI demonstrated an encouraging semi-annual growth rate of 4.9% in comparison to the second half of 2022.

The Central Bank said the highest contribution to this increase was from Residential LVI followed by Commercial and Industrial LVIs, each playing their part in shaping the overall positive trajectory.

However, while the LVI showcased commendable growth during the first half of the current year, there was a noticeable deceleration in the semi-annual growth rate.

This deceleration is indicative of a moderation in the pace of LVI’s expansion, signalling a potential stabilization in the market.

Analysts said the surge in LVI attests to the buoyancy of the real estate sector in the Colombo District, reflecting healthy demand across various property categories.

The substantial increase in all sub-indicators underscores the diverse nature of this growth, spanning from residential to commercial and industrial properties.

The Land Price Index (LPI) compiled from 1998 to 2008 on an annual basis and from 2009 to 2017 on a semi-annual basis, covering 5 DS divisions in the Colombo District.

Subsequently, from 2017 onwards, its geographical coverage was enhanced to represent all 13 DS divisions in the Colombo District and hence it was rebased considering 1st half of 2017 as the base period. From 2020 onwards LPI was renamed as Land Valuation Indicator (LVI) and continued to be released on a semi-annual basis.

August 24, 2023

A significant stride has been achieved in Sri Lanka’s power infrastructure as the newly constructed Polpitiya-Hambantota 220kV transmission line is now seamlessly integrated into the national grid following the completion of its preliminary work.

In parallel, the modern grid substation located in Hambantota was energized on Thursday, August 24, as announced by the Ceylon Electricity Board (CEB).

This transformative project, funded by the Asian Development Bank (ADB) with an investment of USD 55 million, is aimed at elevating the efficiency and capacity of Sri Lanka’s power transmission system. The project encompasses the development of the Polpitiya-Hambantota 220kV transmission line as well as the establishment of the new Hambantota grid substation.

Covering a distance of 150 kilometers, the transmission line traverses through 11 Divisional Secretariats from Ambagamuwa to Hambantota, boasting a robust line capacity of 580MVA. Complementing this transmission enhancement, the Hambantota new grid substation has been fully realized, equipped with two power transformers boasting a combined capacity of 500MVA.

The implementation of these infrastructure components is anticipated to fortify the power grid in the southern part of the country. The improvements are set to amplify the reliability of power supply and augment the power transfer capabilities both to and from the Southern region, a development warmly welcomed by the CEB.

The successful culmination of this project underscores Sri Lanka’s commitment to advancing its energy infrastructure, bolstering the nation’s capacity to meet growing energy demands while enhancing the overall stability and resilience of the power network.

The Sri Lankan Rupee has demonstrated stability against the US Dollar at commercial banks across Sri Lanka today (August 24), maintaining its position from the previous day.

At Peoples Bank, the buying and selling rates for the US Dollar have experienced a marginal decrease, shifting from Rs. 315.80 to Rs. 315.56 for buying and from Rs. 330.63 to Rs. 330.38 for selling.

Commercial Bank, on the other hand, reports that the buying and selling rates for the US Dollar have remained consistent at Rs. 315.70 and Rs. 328, respectively.

Similarly, Sampath Bank has reported unchanged rates for the US Dollar, with buying and selling prices holding steady at Rs. 317 and Rs. 328, respectively.

The stability of the Sri Lankan Rupee against the US Dollar in the local banking sector comes as a reassuring sign, contributing to an environment of economic predictability in the country.

In a coordinated move, trade unions representing five professions within the Supplementary Medical Service sector have initiated a 24-hour token strike commencing this morning (August 23).

The island-wide trade union action, scheduled from 8:00 a.m. today until 8:00 a.m. on Friday (August 25), encompasses the participation of radio technologists, medical laboratory scientists, pharmacists, physiotherapists, and occupational therapists. The strike has been launched as a collective effort to press the authorities into addressing their concerns.

This industrial action is anticipated to impact critical medical services, including X-rays, CT scans, MRI scans, and laboratory procedures at hospitals, as well as the distribution of medicines.

The president of the Joint Council for Professions of Supplementary Medicine, Ravi Kumudesh, elaborated on the situation, indicating that the strike is rooted in seven distinct demands. However, he also reassured the public that certain medical facilities such as children’s hospitals, maternity hospitals, cancer hospitals, nephrology hospitals, and the National Institute of Mental Health would remain unaffected by the token strike.

As the strike unfolds, stakeholders within the healthcare sector are closely watching the developments, hoping for a resolution that meets the demands of the trade unions while minimizing the impact on essential medical services.

The Monetary Board of the Central Bank of Sri Lanka has made key decisions regarding the country’s monetary policy. In its latest announcement, the Central Bank has chosen to keep the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) unchanged at their current levels of 11.00 percent and 12.00 percent, respectively.

Furthermore, the Central Bank has taken a significant step by imposing interest rate caps on various financial products offered by licensed banks across the nation. Effective immediately, the interest rates on pawning facilities will be limited to 18 percent, pre-arranged temporary overdrafts will carry a maximum interest rate of 23 percent, and credit cards will be subject to an interest rate cap of 28 percent, all calculated on an annual basis.

This move is aimed at fostering fair and transparent lending practices within the banking sector while ensuring that consumers are shielded from exorbitant interest rates. By setting these interest rate ceilings, the Central Bank seeks to strike a balance between maintaining a conducive economic environment and protecting the interests of borrowers.

These decisions come at a crucial time for Sri Lanka’s financial landscape, offering stability and predictability to both borrowers and lenders alike. The Central Bank’s actions are expected to have a positive impact on the overall economy by supporting responsible lending practices and promoting the efficient allocation of financial resources.

1. Justice Minister Wijedasa Rajapaksha says exporters have withheld over USD 53.5 bn in Forex overseas, and not remitted to Sri Lanka: also says the situation has arisen mainly due to the change in the foreign exchange law in 2017: asserts that several exporters have provided false information or concealed the true figures from the Central Bank.
2. President’s Office says that President Ranil Wickremesinghe has highlighted “SL’s distinct expertise in global economics, particularly in connecting climate financing with debt management and proposed a National Consultative Committee involving both private & public sector entities to effectively coordinate these climate initiatives”.
3. Central Environmental Authority says the manufacture & sale of one-time use plastic drinking straws, cups, plates, knives, forks, spoons, string hopper trays, garlands etc. in Sri Lanka will be banned with effect from 01 October 2023.
4. The crop damage suffered due to the prevailing drought has increased to around 51,479 acres (51,055 acres of paddy), affecting 46,072 farmers.
5. State Minister of Education Aravindh Kumar says the results of the 2022 GCE Advanced Level examination will be released before September 10.
6. Analysts say that the National Consumer Price Index had recorded a value of 4.6% in July’23 on the highly elevated base of 66.7% in July’22: point out that the prices have increased a further 4.6% even from the very high index level of July’22: allege the new inflation indices introduced since Jan’23 has helped to mask the true increases in prices which have seriously affected peoples’ lives.
7. Indian External Affairs Minister Dr S Jaishankar tells Speaker Mahinda Yapa Abeywardene & Sri Lankan MPs that India will continue to support the development activities of Sri Lanka: Indian High Commissioner Gopal Bagle says India-Sri Lanka relations are expected to be further enhanced in 4 main areas of Food security, Energy security, Currency Support and Long-term investment.
8. Chairman of the Office on Missing Persons Mahesh Katulanda says justice will be served for the families of missing persons within a period of 6 months: asserts the tracing mechanism has been fast tracked with regard to the missing persons, and the process is being carried out transparently.
9. Face value of the Treasury Bill stock reaches Rs.5,600 bn by 31July’23 with the Book value being only Rs.5,117 bn, thus indicating that a massive sum of Rs.483 bn has been suffered as interest by the Govt: this week’s T/Bill auction fails to attract the offered amount even after increasing the weighted average yield: Monetary Board maintains the Standing Deposit and Lending Facility Rates at current levels of 11% & 12% respectively.
10. Dept of Meteorology warns that the Northern, North Central and Eastern provinces are expected to be affected by the high heat levels: adds that the heat index is forecasted to reach high levels in Vavuniya, Mullaitivu & Monaragala districts, as well: advises proper hydration, staying in the shade whenever possible, & wearing light-colored or white clothing to minimize heat absorption to mitigate potential risks associated with these arid weather conditions.

In a recent development, the trade union action initiated by railway electrical technicians has been officially called off, leading to the resumption of train services that experienced delays due to the strike.

The Sri Lanka Railways Department had previously announced significant delays in train services across all railway lines during the evening hours as a result of the strike launched by the railway electrical technicians’ trade union.

The disruption caused frustration among commuters at the Colombo Fort Railway Station, with multiple trains being held back, as reported by Ada Derana.

Despite the setback, the night mail trains have now begun operating, albeit with some delays, as confirmed by the reporter.

With the trade union action now resolved, railway services are expected to gradually return to their normal schedules, offering relief to the passengers who were inconvenienced by the disruptions earlier in the day.