By: Isuru Parakrama
Colombo (LNW): Former Sri Lankan President Gotabaya Rajapaksa has reportedly left Sri Lanka at midnight yesterday (15).
His departure follows a 10-day private tour to Myanmar, accompanied by the ex President’s wife Anoma Rajapaksa and Private Secretary Sugeeshwara Bandara, based on an invitation by several social activist organisations in the Buddhist country, according to sources.
It is also known that the Sri Lankan Ambassador to Myanmar is Mr. Bandara’s sibling.
Attention has been focused on the possibility of using the remaining funds of the Indian debt relief of one billion US dollars for the import of urgently needed medicines, which has become a problem for Sri Lanka.
The High Commissioner of Sri Lanka to India, Milinda Moragoda, met the Minister of Finance and Corporate Affairs of India, Nirmala Sitharaman, at the Ministry of Finance in New Delhi on the afternoon of the 14th and discussed this issue.
The first meeting of the finance ministers of the G20 countries is scheduled to be held in Bangalore on February 24-25 under the chairmanship of Minister Sitharaman and the meeting between the Indian Finance Minister and the High Commissioner of Sri Lanka is special.
The High Commissioner thanked the Government of Sri Lanka for the initiation of Indian rupee transactions and the adoption of regulations and clauses to facilitate the transactions.
Moragoda also expressed his gratitude for the emergency aid given to Sri Lanka and the assurance given by the Indian government to the International Monetary Fund regarding the debt restructuring process of Sri Lanka.
The High Commissioner briefed Minister Sitharaman about Sri Lanka’s discussions with the International Monetary Fund and the current status of the country’s debt restructuring process, and the minister informed about the sharp impact the current economic contraction has had on the people of Sri Lanka.
By Joe McDonald and Bharatha Mallawarachi | AP
BEIJING — China expressed support for Sri Lanka ahead of a meeting Friday of government lenders to poor economies but did not say if it would help reduce a multibillion-dollar debt that has plunged the Indian Ocean nation into financial and political turmoil.
Beijing is one of Sri Lanka’s biggest creditors after extending it loans under President Xi Jinping’s Belt and Road Initiative, which expands trade by building ports and other facilities across Asia and Africa. China has offered a two-year suspension of repayments but balked at reducing the amount owed. That is an obstacle to obtaining an emergency loan from the International Monetary Fund, which wants creditors to agree to debt reductions.
Chinese officials are due to attend a meeting of lenders organized by the IMF and the Paris Club of government creditors. The IMF’s managing director, Kristalina Georgieva, said last month the agency was talking with Beijing about ways of “reducing the burden of debt.”
The Paris Club, after announcing last week its assurances on working with Sri Lanka, said, “The Paris Club members as well as Hungary and Saudi Arabia urged other official bilateral creditors, including China, to do the same in line with IMF program parameters as soon as possible.”
China accounts for about 10% of Sri Lanka’s $51 billion foreign debt. The island nation of 22 million people ran out of foreign currency last year. That triggered power cuts, food shortages and protests that forced a president and prime minister to resign.
China is “willing to work with relevant countries and international financial institutions to continue to play a positive role to help Sri Lanka get over current difficulties,” Foreign Ministry spokesperson Wang Wenbin said when asked whether Beijing would agree to a debt reduction.
Wang repeated an earlier official statement saying that China supports Sri Lanka’s application for an IMF loan and would help its government ask for help from commercial and other creditors.
The China Export-Import Bank last month offered Sri Lanka a two-year repayment suspension. An American official said that was too little and called on Beijing to offer more relief.
“We are in direct discussions with China,” Sri Lankan President Rani Wickremesinghe said last week in a speech to Parliament. “We are now working towards unifying the approaches of other countries and that of China.”
Sri Lanka’s situation reflects conditions across dozens of countries, from South Pacific islands to some of the poorest in Asia and Africa, that borrowed under the Belt and Road Initiative. The total debt of poor countries is rising, increasing the risk that others might also run into trouble.
Beijing has forgiven interest owed by some but has avoided writing down the amount borrowed.
Economists say Beijing probably is resisting cuts to Sri Lanka’s debt for fear that other borrowers will want similar relief. Last April, then-opposition leader Wickremesinghe told Republic TV that China offered an additional $1 billion loan instead of reducing Sri Lanka’s debt. That would allow the government to make payments, but the total amount owed would rise.
Georgieva said IMF officials who visited Beijing discussed with Chinese officials a “pathway for debt reduction” for Chad, Zambia, Sri Lanka and other struggling debtors.
A “very broadly shared” notion in China is that the country wants to help but “they expect to be paid back,” Georgieva said.
That makes a reduction in the amount borrowed “politically very difficult,” Georgieva said. But she said there “might be a way to reach the same objective” by changing interest rates or repayment terms.
Sri Lanka is trying to complete negotiations by the end of March, government spokesperson Bandula Gunawardena said Tuesday. Gunawardena said the IMF has concluded that China’s offer of relief “is not sufficient.”
“I hope the IMF will, by March, be able to ensure that the debt restructuring can begin,” Wickremesinghe said Wednesday.
Source: The Washington Post
By: Isuru Parakrama
Colombo (LNW): President Ranil Wickremesinghe said the government of Sri Lanka will not give in to the demands of protesters, following two demonstrations recently staged demanding the dismissal of the Vice Chancellor of the University of Ruhuna and the General Manager of of a state Corporation.
Addressing the launching of the Centre for Governance and Public Policy (C-GaPP) at the Sri Lanka Technological Campus (SLTC) Research University at the Trace City in Colombo yesterday (15), the President noted that just because certain groups strike demanding the removal of certain officials, the government will not remove anyone arbitrarily as there is a procedure that has to be followed and the government will follow the rules and act accordingly.
President’s full speech:
It gives me great pleasure to be associated with you all because I believe universities need to change. This is one of the new models that we have here today. The SLTC is one of the newer entries into the universities of Sri Lanka. But it has had a record of being involved in the telecom sector. Now you are branching out, and the university became a research university this year. And now you’re opening, a School of Humanities, Arts and social Sciences, which is good. A balance education is needed in the technology sectors, and today you have the centre for Governance and Public Policy. I want to tell you that we need Research University in Sri Lanka and as far as the government is concerned, we will help research even in non-government universities. So if you come up with a plan, we will see that we can give you some funding. We are broke, but we are not that broke that we can give you some money. I don’t want to say much more of the university, because all of you are aware of it.
But I thought this was a good occasion also to say, I listened to Dr. Howard Nicholas, who says this crisis is an opportunity. It is not only for export economy, it’s also for higher education, research and technology. Because that’s the one that’s going to drive our export economy, a new economy, that we build a new economy that will be based on our capacity for renewable energy for green hydrogen, for logistics, for new tourism, for all the technology digitalization and the technologies that are involved, and for manufacturing. That manufacturing if we are to succeed has to be based on automation and semi automation. There’s no other way that we can beat the numbers of paid labour in South Asia whether it be in India or in Bangladesh or in Myanmar. So this is one area of the economy. But for the economy to take over and we are now at the moment at the stage of economic stabilization, I hope the I M F will by March be able to ensure that the debt restructuring can begin. But it also requires a political stability and a social innovation, and that innovation requires new thinking. New thinking requires new universities, so we have to think back how much have we spent in the universities since 1978?
As the Vice Chancellor said those days, he was a student protesting against the white paper and it’s reformed on universities. I think now he’s regretting it, but the reforms we have to bring another reforms of 1978. We have to think of all the changes in higher education today. I talk of my own university, Colombo University. When I was in Colombo University in the late sixties, the Medical College or the Medical Faculty of the Colombo University was well respected in the whole of Asia. Now there are more medical faculties in Asia that gets ranking higher than the medical faculty of the Colombo University. When I studied in the law, faculty, like, Dr. Hiran Jayawardhena here and the law faculty had high ranking in Asia. In fact, my professor T. Nadarajah was the World’s expert on Roman Dutch law. After R. W. Lee died of South Africa, we had a few lecturers who are well known, one of them, of course was Professor G.L. Pieris. Nevertheless we had A.F. Amarasinghe, A.R.B Amerasinghe, L.J.M. Cooray. But today do we have the same ranking we had at that time? What’s happened to our university? The Peradeniya University, University of Ceylon was very known for its science, for its archaeology for its social sciences.
The history of Ceylon by the University of Ceylon is an outstanding work. It’s not only in the field of education, but the University of Ceylon and it’s DRAMSOC and Professor Ediriweera Sarathchandra, actually changed, brought about a revolution in Sinhala literature. The first play Maname was from the DRAMSOC the second play Sinhabhahu was from DRAMSOC. I was able to see both those in 56 and the sixties. Where are we today? The drama is not in the DRAMSOC anymore. Drama is out on the streets, so we have to rethink. We have spent so much of money on a higher education institutes. What have we achieved? The country has to think. It’s your money that we have spent. Have we got our money’s worth for the universities? So we have to think of changes if the country provides the money, the people of this country have a right to know what is happening in the universities. Why can’t we send our Children into the university? What is happening inside? The affairs of the Universities are a matter for the whole country.
And that’s what we have to decide and the responsibility to a large extent also lies with the University. At the moment there are two strikes. I must say today while we start this new centre. We are also witnessing a strike in the Ruhuna University to remove the Vice Chancellor, actually I have two strikes. One of them wants me to remove the General Manager of cooperation and other one says to remove the Vice Chancellor of University. Now where do we end up? The trade unions are saying to remove the General Manager of one of our corporations and the FUTA says remove the Vice Chancellor of the university. Has FUTA come to that level where like the guys who want the General Manager removed? That’s the only question I have to ask.
Removal of the General Manager is a matter for the government. Just, because there is a strike we will not remove him. There’s a procedure that has to be followed if they think there are any shortcomings by him of serious nature. As far as vice chancellors are concerned also, there has to be a procedure. There is a procedure as Professor Perera knows, and that can be investigated. Without procedures, just because people go on strike whether it’s in a corporation or in a university, this government will not change. We will follow the rules and we’ll act accordingly because, if I go into this now, next time they want to remove the deans and next time the heads of department. And then we will be told that you can’t appoint a professor without our consent. I think we have to seriously look at what is going to happen in the universities. The country has a right to know what is happening. We are paying money to educate our people. So we want the universities function properly. And I am sad that this is taking place in Ruhuna.
But I am over joyed that we are starting a new centre today. So we are at an age of transformation we have to look at the good and the bad both together. But higher education has to change and it has to change after wide ranging discussions in the country. And we will be initiating those wide ranging discussions once the IMF and the debt restructuring is over. And, in regard to the centre you have opened now on Governance and Public Policy, That’s one area that’s lacking in Sri Lanka, and we are now taking steps to start the University of Government and Public Policy. That will be at the postgraduate level, so graduate degrees undergraduate degrees are required. And I hope this University, Sri Jayawardena University also has Similar departments and are welcomed, they plus other members, will then be able to get the benefit of the University for government and public policy. The Institute of Public Policy, which Howard started, Kadirgama Institute of International Relations, will be amongst them. The JR Jayawardhena Centre will be transformed into the J R Jayawardhena Centre for Parliamentary Politics. It will be a ranged for the education and information of parliamentarians and members of the provincial councils.
So there are a number of those institutes and two new institutes where we will start one of the Institutes of, economics and trade and other will be the Institute of Women and Gender. So they’ll all come in for the making of public policy and the research into public policy in Sri Lanka. Parallel to that will also start the climate Change University which, I hope will be a regional or international university with a number of foreign, stakeholders. So we ourselves are expanding the sector of non-government universities and non UGC universities in addition to state universities or state sponsored universities, which are outside the UGC, we hope to see that there will be also universities which are not government. Some would be not for profit that there would be for profit, but that’s how universities operate and we have to think of new laws to regulate these institutions.
So I don’t want to take any more of your time but just to thank you for this new initiative and wish you all success
Colombo (LNW): The Ceylon electricity board as the licensee made a request for the revision of electricity tariff on the 05th of January under the provisions of the Sri Lanka Electricity Act 2009 which was approved by the Public Utilities Commission of Sri Lanka (PUCSL) yesterday (15).
However, President Ranil Wickremesinghe issued a directive to the Minister of Power and Energy and the relevant CEB officials this morning (16) to implement the tariff revision ensuring the uninterrupted power supply for the electricity customers, provide concessions for low-income families and provide solar rooftop systems for religious places and government education institutions.
By: Isuru Parakrama
Colombo (LNW): Government’s Printer Ganga Liyanage said the ballot papers can be printed only in the event of the issuance of money.
Calling in a special briefing, the head of the Government Press emphasised that she did not request the full amount required for the printing process, but only an advance of Rs. 200 million from the Election Commission.
Stressing that she is not afraid of anyone, Mrs. Liyanage noted that due to a circular issued by the Ministry of Finance she was stuck on both sides, but has acted within legitimate boundaries in her duties.
By: Isuru Parakrama
Colombo (LNW): The historic Temple of the Tooth Relic in the city of Kandy will host a Janaraja Perahara on February 19th, after a gap of 34 years.
The procession has been organised to coincide with the 75th Independence Celebration, and it will be inaugurated under the patronage of President Ranil Wickremesinghe.
According to the Coordinating Officer and the Cultural Officer of the Temple of the Tooth Relic, the procession will begin from the Magul Maduwa premises at 6.30 pm on February 19th. It will parade along the Dalada Street, Yatinuvara Street, Kanda Street, Raja Street, and return to the temple, marking the end of the event.
The organisers have made preparations to make the Janaraja Perahera colourful, with cultural performances, including dancing troops, and caparisoned elephants, similar to the annual Esala Perahera.
However, unlike the Kandy Esala Perahara, the Dalada Karandwa (Casket carrying the sacred relics) will not be carried on a tusker at the Janaraja Perahara. Instead, the national emblem of Sri Lanka will be carried.
The Janaraja Perahera aims to promote the tourism industry, and facilities have been arranged along the Janaraja Perahara route for the spectators who come to watch it.
The Janaraja Perahara was first organised in 1875 to celebrate the arrival of the Duke of Wales, the son of Queen Victoria, to Ceylon. The procession was also held in 1954 when Queen Elizabeth II, the then-Head of State of Sri Lanka, visited the country. The Queen watched the Janaraja Perahara from the Paththirippuwa. In 1981, a similar procession was held, and Queen Elizabeth II watched the procession from a special platform built in the Maha Maluwa, the main courtyard.
The Temple of the Tooth Relic only organises special processions like the Janaraja Perahara at the request of the government on significant occasions in the country. The last time the Janaraja Perahara was held was in 1987 by the then Prime Minister Ranasinghe Premadasa.
Rolf Blaser, CEO and Managing Director of A. Baur & Co. Pvt Ltd. also known as Baurs, a leading conglomerate with diversified business interests among various sectors in the country, was recently bestowed with the ‘Most Admired CEO of the Year 2022’ title in recognition of his visionary leadership, resilience, and growth-innovation mindset inevitably displayed throughout last year despite the many challenges.
Hosted by The CEO Magazine, the 2022 CEO of the Year Awards was held at Cinnamon Grand Colombo on 1st February and saw the participation of some of the most renowned personalities who steer and drive Sri Lanka’s corporate sector and economy forward.
Under Blaser’s leadership, Baurs has seen a rapid transformation in its strategic direction with the aim of continuing to be the most sought-after partner among suppliers both locally and internationally, representing well renowned and reputed brands and organizations who have placed their trust in the company for decades, and also as the employer of choice for hundreds of Sri Lankans.
Baurs has raised the bar for being the first in many initiatives that sets the stage for others to follow suit. Very recently and for the first time in Sri Lanka, Baurs introduced a one-of-a-kind child support benefit for all its employees. Celebrating 125 years of progressive innovation and a corporate legacy that is built on its Swiss heritage and value systems, Baurs has evolved to becoming not just the largest private fertilizer company but also a fast-growing name in various sectors.
Some of its partners include Sandoz, Norvatis, Roche (Pharma), Omron, Nouvag, Medtronic (Surgical & Diagnostics), Johnson & Johnson, Nestle, Marico (Consumer), Kluber Lubrication, Kisco, Datacolor (Textile Machinery), Elanco, Lonza, AgBiTech (Agriculture), and Swiss Air Lines, Swiss Tours, Edelweiss, and Ecole hôtelière de Lausanne (Travel & Education), and its long- standing relationships with the partners are only growing stronger and deeper.
The colleagues at Baurs also share similar views, commending on its workplace culture that has deeply cultivated intrinsic trust, pride, cameraderie and fun. Baurs strongly resonates its success and growth to all employees, investing significantly in one’s personal and professional development to take on new opportunities and responsibilities, whilst ensuring mutual respect, care, and integrity. The Leadership Grooming Program and Baurs Toastmasters Club are just a few of many.
Baurs was one of the few that assured job security with no layoffs or salary deductions during the height of the pandemic and went onto providing various financial and non-financial assistance including increased insurance cover for its lower income group and organized many heartwarming activities to welcome back its employees.
The emphasis on employees’ psychological well-being continues to be stronger than ever, with company-wide policies and programs aligned with its diversity, equity and inclusivity (DEI) pillar.
Ensuring gender equality and women empowerment has been a long-standing philosophy and practice at Baurs, and an integral aspect to pursuing its 17 Sustainable Development Goals (SDGs) in addition to its commitment towards the UN Global Compact (UNGC) initiative. Baurs also organizes and pursues numerous community and social indulgence activities along with its employees and suppliers, to actively give back to the society.
Thanzyl Thajudeen
+94 777 779164
By: Isuru Parakrama
Colombo (LNW): Both the Government’s Printer and the Treasury Secretary have become puppets under the palm of President Ranil Wickremesinghe, leading to which the postponement of the upcoming Local Government Election is being carried out in violation of the Constitution of Sri Lanka, warned Samagi Jana Balawegaya (SJB) MP S.M. Marikkar, speaking to a briefing called in today (15).
Reminding that no circular is considered as superior as the Constitution itself, Marikkar emphasised that the Government’s Printer and the Treasury Secretary have the responsibility to follow the guidelines of the Election Commission in compliance with the constitutional duty entrusted with them.
Should the Government’s Printer believe that ballot papers will not be printed in the event of funds not being released, she should also be questioning as to how the Government Press’ affairs were carried out during the last polls held in the country, the SJB MP stressed, pointing out that such funds were not released on the basis of ‘money-in-hand’ but were of systematically credited expenses.
Addressing Treasury Secretary Mahinda Siriwardena, Marikkar reminded that he had issued Rs. 100 million for the election affairs to date and added that should he believe that funds cannot be allocated for the holding of the upcoming Local Government Polls, the Treasury Secretary should also be held accountable for wasting public funds amounting to Rs. 100 million this far.
The SJB MP went on saying that the Treasury Secretary’s conduct behind the provisions of the circulars in violation of the Constitution of Sri Lanka should be a prison sentence up to three years, and the Government’s Printer should also be facing the same fate, should she continue to avoid her duties.
The President who came to power pledging that the Constitution will be protected and democracy will be strengthened has resorted to a conduct which had never been committed in the history of Sri Lanka, Marikkar went on, adding that him barring the printing of ballot papers would be a violation of democracy. Despite the President’s everyday walk under the STF’s protection, he should bow to the public’s opinion, the SJB MP added.
