The Sri Lanka SIP Academy is all set to host the 20th SIP Prodigy 2023 Competition, an exciting fusion of Abacus Mental Arithmetic and Brain Gym exercises. This prestigious event is scheduled for Sunday, October 22, 2023, starting at 9:00 a.m., and will be held at the Sugathadasa Indoor Stadium.
With participants exceeding 1,000 in number, this competition promises to be a global spectacle, with young talents coming from not only Sri Lanka but also various corners of the world, including India, Singapore, UAE, Philippines, Tanzania, Bahrain, Bangladesh, Nepal, and Malaysia.
The event will serve as a platform for children from all across Sri Lanka, spanning the East, West, and South, to come together, showcase their remarkable abilities, and foster meaningful connections with their peers.
The US Embassy in Colombo, in collaboration with the Regional Centre for Strategic Studies (RCSS) and the United States Institute of Peace (USIP), convened a gathering of scholars from across the Indo-Pacific on Monday, the 16th, for a significant conference focusing on “Ocean Security: South Asia and the Indian Ocean.”
The conference brought together an array of international researchers with expertise in Indian Ocean affairs, covering a wide spectrum of topics, including environmental security, regional cooperation, governance, peace-building, blue economy, trade, and ocean security research.
US Ambassador to Sri Lanka, Julie Chung, commenced the event with her opening remarks. She commended the network of South Asian scholars dedicated to studying the Indian Ocean. She also underscored Sri Lanka’s crucial role in the region’s blue economy, stating, “Investment in sustainable blue economies is a force multiplier, spurring economic development and demonstrating how environmental protection and economic growth are mutually reinforcing. The United States is committed to ensuring a prosperous blue economy for Sri Lanka and other nations across the Indo-Pacific. Since the launch of the Indo-Pacific Strategy in 2022, the US Government has announced the provision of over US$ 2 billion in foreign assistance in the region dedicated to Indo-Pacific priorities.”
Ambassador Chung also highlighted the strength of the bilateral relationship between the United States and Sri Lanka, which is celebrating its 75th anniversary this year. She emphasized, “the United States recognizes Sri Lanka’s right to assert its own aspirations and objectives, to be recognized as an equal on the world stage, and to make decisions aligned with its values and the needs and interests of its people. Indeed, those principles help to guide our bilateral relationship.”
Delivering the keynote address, Nilanthi Samaranayake, a visiting expert from the United States Institute of Peace in Washington, D.C., emphasized the economic significance of the Indian Ocean region. She stated, “The Indian Ocean derives its importance from its economics, which creates converging goals. The region effectively serves as a highway, connecting the bustling waters of the Pacific through the Malacca Strait and across to the Middle East and African Straits of Hormuz and Babel-Mandeb and the Mozambique Channel. The Indian Ocean sees significant traffic of hydrocarbons, containers, and bulk cargo. Due to the economic significance of this region, countries share a common interest in keeping the sea lanes open and safe.”
The conference witnessed the active participation of representatives from diplomatic missions throughout the Indo-Pacific, Sri Lankan Government officials, scholars, and members of the Sri Lankan Military.
Sri Lanka’s State Minister of Fisheries, Piyal Nishantha, has announced a groundbreaking initiative to establish a specialized investment zone in the Northern Province, catering exclusively to the fishing industry. This strategic move is designed to attract investments that will stimulate economic growth and create numerous employment opportunities for the region’s residents.
In a recent press briefing held at the Presidential Media Centre (PMC) under the theme ‘Collective Path to a Stable Country,’ Minister Piyal Nishantha highlighted proactive measures already in motion to combat the fishing mafia, a network of middlemen who have profited unfairly at the expense of both the fishing industry and consumers.
The Minister explained, “In the past, the Fishery Corporation procured sailfish through suppliers, subsequently distributing imported fish. However, the Corporation later transitioned to direct imports through legitimate channels, yielding significant profits. This transformation disrupted the monopolistic control exercised by a select group of suppliers and intermediaries to some extent.”
“However, it is essential to recognize that breaking this monopoly posed considerable challenges. Attempts were made to obstruct our efforts, even from within the corporation itself. As a consequence, fishermen, consumers, and the Corporation incurred substantial losses. Despite these difficulties, we remain committed to curbing this exploitative network.”
Minister Piyal Nishantha provided some striking figures, stating, “For instance, the Fishery Corporation previously procured a kilogram of sailfish from local suppliers at a price of Rs 1,750. But when importing sailfish directly, one kilo can be bought for Rs. 1,250. With a monthly requirement exceeding 50,000 tons, it is unsurprising that the corporation incurred losses.”
“It is crucial to emphasize that this import of fish is a temporary measure. Our primary objective is to facilitate the Fishery Corporation’s progress in collaboration with Sri Lankan fishermen, ensuring the delivery of quality and dependable seafood to our valued customers.”
Simultaneously, preparations are in progress to establish a dedicated investment zone for the fishing industry in the Northern Province, welcoming investments linked to the fisheries sector into Sri Lanka and generating employment opportunities for a substantial workforce.
To coincide with this year’s World Fisheries Day, a series of programs will be held from November 19 to 21, with a specific focus on the Northern Province, led by the Jaffna district.
In the Jaffna district, services provided by agencies affiliated with the Ministry of Fisheries, such as mobile fishing services, issuance of fishing ID cards, registration of fishing boats, and resolution of communication issues concerning fishing signals, will take center stage. Solutions will be delivered to these challenges directly within the local communities.
Additionally, a testing center affiliated with the NARA Institute is set to be established in the Kilinochchi district. Plans are in place to release small fish into lakes, rivers, and reservoirs within the Province, particularly the Iranamadu Reservoir. This move aligns with the commitment to expand fish harvest areas for multi-day fishing vessels through the introduction of a new FAD machine.
Promoting the freshwater fishing industry remains a priority, marked by the distribution of approximately 54 million small fish into freshwater reservoirs nationwide.
Significant emphasis is also placed on projects with the potential to enhance foreign exchange earnings, including seaweed cultivation and sea leech breeding.
Under the aid of the Chinese government, a program to provide kerosene subsidies for one-day fishing vessels is being implemented for the second time. A total of 4,250,000 liters of kerosene will be distributed among 28,000 fishermen, equating to 153 liters of kerosene per fisherman.
To foster cooperation among the officials of the Ministry of Fisheries and affiliated institutions, plans are underway to conduct a volleyball tournament and an ‘inter-school drawing competition.’
Colombo (LNW): Up until this point, Lasitha Gunaratne, who had been advising the Sports Minister of Sri Lanka and served in the National Sports Council, has decided to return to the rugby club and take a position in a sports club and contribute to Sri Lanka Rugby. He was also behind the Minister’s contribution until defeated in the Asian Games. This happened because the National Sports Council was established by the Minister himself to ensure that the correct decisions were made for the Ministry.
On August 18 of this year, Lasitha Gunaratne formally requested permission to resign from the National Sports Council and he was subsequently informed on October 2nd that the Minister had granted his request for resignation. During that period, Sri Lanka had experienced a significant level of destabilization, resulting in the most severe collapse in the history of the Asian Games.
A gazette notice is issued removing the Stabilization Committee which stabilized the work stoppage of the Sri Lanka Rugby on September 25. As a final result, the minister who was standing on the influence of the Asia President got the result that during his sports minister period, Sri Lanka got the worst result in the Asian Games and the United Emirates, the country of the Asia Rugby President, showed the best results.
Lasitha Gunaratne contacted LNW and reported that he is under attack. But we are open to receiving criticism, and if there are any errors, we are eager to rectify them, in our obligation to the golden principle of Right-to-Reply. Nonetheless, we maintain our belief that the facts we inquired about are accurate.
The current displeasure of the Asian President towards Sri Lanka originated from the fact that Lasitha Gunaratne did not vote for him as President as initially agreed. If the accusation we level against him is incorrect, he has a straightforward response: “I voted.”
If it can be substantiated, then the Asia President’s incorrect reaction towards Sri Lanka by addressing a minister of Sri Lanka is wrong. If so, it can be corrected through Asanga Seneviratne, who is now close to the Asian President, who was in two decisions that he should vote and not vote for the Asia President, and It is can possible to ensure that the correct vote was cast.
The reason why the administration that succeeded Lasitha faced difficulties was due to the redistribution of power to the Uva and Western Unions. Lasitha Gunaratne can offer advice to Minister Roshan Ranasinghe, who is well aware of the reasons behind their electoral defeat and the loss of power. If those associations lose power in the election following his term as president, the reason for that will be created during his tenure as president.
Should those associations be forever banned in such a scenario? Alternatively, what are the key factors outlined in the Rugby Constitution that need to be addressed for them to regain power? As we know, the first ban was issued during the Namal Rajapaksa period, considering that the Ruger administration did not reply to the letter submitted by the Sports Ministry in accordance with the provisions of the constitution.
Whether it is because they have committed an offense that should be prevented from joining Uva and Western rugby forever, or whether they will be removed from rugby forever according to the Sri Lanka rugby constitution when a ban or censure is assigned to a sports club by closing an accessible way for an offense, than we are. The society can be better explanation by Lasitha, who is now freed from the role of the National Sports Council and is coming to comment on the national rugby process by embracing the life of rugby. He has previously served as both Vice President and President.
We did not insinuate that Lasitha was involved in any fraudulent activities. We stated that a debt of twenty million was accrued within the Rugby administration during his tenure. With the time span of Asanga, the debt has grown to exceed 50 million. We also mentioned that the presence of foreign players in the matches led to a lack of respect for the country. Isn’t it so? Was our assertion that Lasitha, the Vice President who closely worked alongside Asanga during his presidency, inaccurate?
In the end, the responsibility was attributed to Sri Lankan Rugby, resulting in a fine of £50,000 being imposed on them. You are now notifying Sri Lanka Rugby that the payment of the debt as well as these fines has been approved by the council, so you are not responsible for them. Arguably, you may think that you have evidence to say that it is right. It is not legally incorrect to state that Lasitha Gunaratne was the President who led Sri Lanka rugby during the period when the twenty million debt was incurred.
Also, we have seen, it was observed in the previous season of Sri Lanka Rugby that the efforts to clear the debt and secure new sponsors for Rugby were aimed at distancing the sport from political involvement, a stance that received opposition from both within Sri Lanka Rugby and from Asia. We respected that approach. We explicitly stated that Rizley Illyas played a role in this intervention, and we stand by that assertion today.
Are those things wrong? Is it wrong for us to respect them because Lasitha believes that the Minister of Sports Associations should behave as he wants? Should the autonomy of an association be subject to the constraints of political authority?
In a different perspective, you believe that international associations should not exert influence on a sport through individuals associated with politicians, but rather through individuals involved in the sport within that country. We have encountered such situations in the past. We concurred that Illyas, as the country’s sports-appointed authority, was in opposition to this stance. This discrepancy reflects differing understandings and viewpoints.
This pertains to the foundation of the trust we are establishing, based on goodwill and principled agreements. At that time, Lasitha Gunaratne was providing advice and exerting influence on the actions of the Sports Minister, which were contrary to what we believed and supported.
We understand that at this moment, you are not subject to the Minister’s actions and responsibilities. But if you came back to Ruger to have the power to direct part of that agenda live in it, Lasitha is still far from us. But we can reach not only Lasitha but also Roshan Ranasinghe. It is only if a sports administration unit has the possibility to carry out the independence and planned free management without political interference that we believe in.
If those associations lose money and swallow money to inflate their political image, even if the ministers are friendly, we will not be accepting.
If the village can be nurtured to add physical strength and endurance to the mental endurance of a game like rugby in the country, it is not impossible to improve the condition of rugby in Sri Lanka. But for the sake of maintaining the dependence of power and for the protection of the ministerial power in the sports law, it is a disgusting job for the sports administrator to do the work of blowing balloons for the political authorities of the government.
It is a sad situation that it is difficult for Lasithas to identify this line. If not, it is not the game that is saved. Therefore, you need to come back to the administration of Rugby, not looking for a way to spread that smell after getting rid of the law by piling up dirt on Rugby through the minister. To collect the facts needed to be smelled. If it is feasible, suggesting to Sri Lanka Rugby to highlight the rugby talents of the Vatu Tamil community, primarily concentrated around the Lindula Stadium in Nuwara Eliya, we will also go there.
If you go there with the management of the main sports clubs in Sri Lanka and consider this situation, you will feel that they are people who can give a lot to the country’s rugby players.
It is appropriate for the politician to work with the “Yes Sir” theory in order to transform the environment into a scientific situation that can be created with the environmental changes and biological factors in Sri Lanka. A chair in a sports association is valuable even without a person.
Therefore, a person sitting there can only protect the value or show that a person who is not worthy of the chair is appointed. Consequently, we hold the belief that those who can uphold the principles associated with those positions should assume those responsibilities, as opposed to those who employ administrative roles within the game to enhance their personal interests.
Lasitha can also become a part of our shared convictions and principles. Lasitha Gunaratne is free to make any allegations against us. However, before anything else, we must establish whether our statements regarding his voting or not voting for the Asia President are accurate or not.
Rather than aligning solely with the minister and dealing with issues that may be beyond legal resolution or involve confrontations within the rugby community, it is also conceivable to extend a helping hand and collaborate on positive initiatives, considering the good work accomplished in the past. It protects Lasitha Gunaratne’s blood-soaked skin. Proving that the blood is pure is better than the political praises that are done after the body, it is a medicine for a relaxed mind that can sleep well.
So, it is unnecessary to say how much happiness comes when you have a try on Ruger. Everyone in the group feels as happy as the person who has it. If one of the team is catching the legs of the runner carrying the ball, he must be crazy.
Have to be careful to choose team. There are limits on how many tries can be scored on both sides of the field. The first thing to do should be to turn to the right side of your team. In Lasitha’s new arrival at Rugby, he has only just picked up the ball. We think the team won’t be mistaken.
Also, if we have recorded any information that is not accurate or relevant concerning Lasitha Gunaratne, it is our obligation to rectify it. We are not making baseless accusations. These are events and occurrences connected to that particular period. If Lasitha can provide evidence to show that the events we mentioned are not accurate, especially in regard to voting for the Asian chairman, we will acknowledge his right to do so and respect it.
The Colombo Magistrate’s Court has issued an order for the release of former State Minister Vijayakala Maheswaran in the case related to her alleged statement endorsing the revival of the LTTE (Liberation Tigers of Tamil Eelam), as reported by Ada Derana.
The controversy stems from an address made by the then State Minister of Child Affairs, Vijayakala Maheswaran, during a state event at Veerasingam Hall in Jaffna on July 2, 2018. In this address, she had purportedly expressed support for the resurrection of the LTTE for the freedom of the Tamil people.
Following this statement, the Organized Crime Prevention Division (OCPD) initiated an investigation into the matter, leading to her arrest on October 8, 2018. Nevertheless, she was granted bail on the same day, with a personal bond amounting to Rs 500,000.
It is worth noting that Maheswaran, who is a member of the United National Party (UNP), had to step down from her position as State Minister for Child Affairs in the wake of the controversy.
As of October 19, there has been a marginal depreciation of the Sri Lankan Rupee against the US Dollar at commercial banks in Sri Lanka compared to Wednesday’s rates. Here is the latest exchange rate information from selected banks:
Peoples Bank: The buying and selling rates for the US Dollar have remained steady at Rs. 316.67 and Rs. 329.88, respectively.
Commercial Bank: The buying rate for the US Dollar has increased slightly from Rs. 317.68 to Rs. 318.18, and the selling rate has similarly risen from Rs. 328 to Rs. 328.50.
Sampath Bank: The buying rate for the US Dollar has seen a minor increase from Rs. 319.50 to Rs. 320, while the selling rate has also edged up from Rs. 329.50 to Rs. 330.
Colombo (LNW): The government’s move to lease out the President’s House in Jaffna to the Sri Lanka Institute of Information Technology (SLIIT) has sparked widespread criticism on the shady deal to develop an IT University in collaboration with a Canadian investor.
The investment value here is approximately Rs. 5,000 billion and the proposal outlines the development of a portion of the property, excluding the existing buildings and reception halls.
The construction work of President’s House in Kankesanturai, Jaffna, was started during the administration of former President Mahinda Rajapaksa. It was within the five years of 2010-2015.
Originally constructed at a staggering cost of Rs. 3.5 billion, the opulent Presidential Palace in Kankesanthurai (KKS) was envisioned and built by former President Mahinda Rajapaksa.
Committee on Public Enterprises (CoPE) former Chairman Prof. Charitha Herath criticised the Executive for undermining the Legislature with its recent decision to lease the President’s House in Jaffna to the Sri Lanka Institute of Information Technology (SLIIT).
It was reported that the decision was reached regarding the premises following a recent discussion chaired by the Chief of Presidential Staff and Presidential Advisor on National Security Sagala Ratnayake.
“The decision clearly undermines the Legislature. On 6 April 2021, the CoPE presented a significant report to the Parliament, unveiling cases of fraud and corruption within SLIIT, which is situated on a State-owned three-acre plot of land in Malabe and was built with Rs. 500 million of public funds.
Numerous cabinet papers from members of successive governments have been submitted to address these issues. Despite this, SLIIT has been permitted to persist in this manner,” he noted in Parliament.
According to Herath, even the Cabinet paper presented during the tenure of former President Gotabaya Rajapaksa regarding this issue was disregarded and not implemented.
Herath criticised the Executive for its recent decision and asserted that it was inappropriate for the Executive to make decisions that undermine the authority of the Legislature in the country.
The MP suggested that the Government should refrain from implementing the decision and, instead, conduct a thorough analysis of a 500-page report submitted by the Auditor General and a committee appointed to investigate fraud carried out by a temporary group appointed from the University of Moratuwa to oversee SLIIT.
“As the situation stands, the Executive’s decision to lease the President’s House in Jaffna to SLIIT for establishing a branch has undermined the authority of the Legislature.
There is no objection to setting up a branch of SLIIT in Jaffna, but the decision that undermines the CoPE, which is a part of the legislature, is incorrect,” he emphasised.
The President’s House, situated in Kankesanthurai, encompasses 29 acres of land, with 12 acres allocated to building complexes. It was constructed by the Rajapaksa Government in 2011.
In the initial phase, it has been decided to lease the 12 acres owned by the Government to SLIIT. Additionally, a decision has been made to lease the remaining 17 acres of land, which was acquired from the local population, with the aim of generating income for the people.
Currently, the land is under the control of the Sri Lanka Navy, and once the relevant lease agreement is finalised, the relevant land is expected to be handed over to SLIIT.
Colombo (LNW): A proposed restructuring of Sri Lanka’s debt to dollar bondholders in the shape of new “macro-linked bonds” looks “extremely generous” to investors, according to analysts at Citibank.
Sri Lanka dollar bonds look attractive, and fair value for macro-linked could be in the high 50s to mid- 60-cents on the dollar if the proposal is accepted, Johanna Chua and Donato Guarino, strategists at Citi wrote in a note
Sri Lanka’s 7.55% 2030 bond advanced to 47.4 cents on the dollar Monday, the highest since March last year, before the nation’s historic default.
Macro-linked bonds are “a new instrument whose payouts are linked to the evolution of Sri Lanka USD nominal GDP.
The goal of this floating cash-flows structure is to comply with the Debt Sustainability Analysis targets embedded in Sri Lanka’s IMF Program”
Citi estimates a lower probability that the smaller payout for macro-linked bonds — that would be triggered in a lower GDP growth scenario — will be triggered.
Citi said “that they think terms being proposed here are still subject to renegotiation by the government.
The provision of this private creditor bondholder restructuring proposal, alongside news of a preliminary agreement with China Exim Bank on the treatment of $ 4.2 b of outstanding debt should eventually pave the way for an IMF Executive Board approval of the first program review, and $ 334 m in tranche disbursal by November,”it added.
Sri Lanka’s private creditors have sent a proposal on how to restructure $12 billion of overseas debt, including a new type of bond designed to ease repayments in case of future economic pressure, said two official sources .
The country of 22 million people tipped into its first foreign debt default in May 2022, after a severe shortage of dollars triggered its worst financial crisis since independence from Britain in 1948.
The proposal sent on Oct. 2 provides a write-down, or haircut, on both capital and interest, added the sources who declined to be named because the talks are private.
It foresees issuance of regular sovereign bonds and also of so-called Macro Linked Bonds (MLBs), which will automatically lower coupon payments starting in 2027 if Sri Lanka fails to meet some of the economic targets linked to its International Monetary Fund (IMF) programme.
The latest update from ‘IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably met only 40 of the 71 trackable commitments that were due for completion by end-September 2023.
It also shows that Sri Lanka had, at the same time, reached its lowest point in terms of both performance and transparency since the programme commenced in March.
This is because the status of about 30% of the commitments due to be completed by end of September were unknown, and three of the four commitments due which specifically require the government to enhance transparency were not met.
This unveils a “twin deficit in transparency”: (a) a growing lack of transparency in the progress of the programme, and (b) a growing failure to meet IMF commitments that call for increased governmental transparency.
Growing lack of transparency in the progress of the IMF programme
The number of commitments with unknown statuses has surged to an all-time high about 30%, up from around 20% in August. This growing lack of transparency risks eroding public and institutional confidence, both in Sri Lanka’s economic progress and in the effectiveness of the IMF programme itself.
Growing failure to meet IMF commitments that call for increased transparency of government
In the seven months following board-level agreement, most requirements mandating transparency have been unfulfilled. A current example is the commitment to “Report monthly cash flows from revenues, expenditures, and financing, by the third business day of the subsequent month, by the Department of State Accounts,”. Another example is the creation of an online fiscal transparency platform.
This was due in March, but remains not met even at the end of September. The need for such a platform was underscored in both the governance diagnostics published for Sri Lanka – one by Sri Lanka’s Civil Society, and the other by the IMF. The only transparency commitment that was met by the government was the publication of the IMF governance diagnostic, which was also published by the IMF.
Transparency is foundational to public accountability in a democratic system. Yet, data from the IMF Tracker suggests that Sri Lanka has a twin deficit in transparency. The two governance diagnostics done indicate that Sri Lanka’s economic issues cannot be resolved unless the government first addresses its accountability shortfalls. If these assessments are accurate, the twin transparency deficit could be a leading indicator that the anticipated economic recovery may not materialize as expected.
IMF Tracker is the first and only platform in Sri Lanka which tracks the 100 identified commitments recorded along with Sri Lanka’s letter of intent to the IMF on the programme approved on 20 March 2023. It is available for the public on the manthri.lk website at https://manthri.lk/en/imf_tracker
Indian Navy Ship Airavat, Shardul-class Landing Ship Tank (LST) arrived in Colombo on 18 October 2023. Commanding Officer of the vessel, Commander Rindu Babu, called on the Commander Western Naval Area, Rear Admiral TSK Perera during the visit.
In line with Government of India’s ‘Neighbourhood First’ Policy the Assistant Chief of Naval Staff – Foreign Cooperation, Indian Navy Rear Admiral Nirbhay Bapna handed over valuable Machinery test and trial equipment including machinery items for Sri Lanka Navy on grant by GoI to Director General of Engineering, Sri Lanka Navy Rear Admiral (E) KWARI Ranasinghe, in a ceremony onboard the ship on 18 October 2023. The timely availability of spares would ensure optimal operational availability of the SLN platforms.
The efforts of the Indian Navy are in keeping with its core ideology of ‘Bridges of Friendship’, towards strengthening it’s relations with friendly neighbours.
