State Finance Minister Ranjith Siyambalapitiya says import restrictions on all items except vehicles, will be relaxed immediately: LKR expected to be under severe pressure soon with more imports, “hot-money” exits, and dwindling Forex reserves.
Economic analyst Danusha Gihan Pathirana expresses shock that the CB Governor Nandalal Weerasinghe who is also the custodian of the EPF, has stated that using pension funds & excluding private bondholders from the DDR is in the best interests of the Fund: castigates the Governor’s claim that it’s a “unique solution” to the debt crisis “discovered” by local experts and that SL does not need local experts to implement the same procedures practiced elsewhere in the world.
SLPP MP Gevindu Cumaratunga charges that the Finance Ministry’s continued postponement of answering a question related to the EPF in Parliament more than 2 months ago, raises serious concerns about state policy and transparency: alleges there is a significant difference between the interest rates paid in 2022 for the Provident Fund of Central Bank officers (29%) and that paid to ordinary EPF Members (9%).
Opposition Leader Sajith Premadasa alleges the Govt is planning to postpone National elections scheduled for next year: says it’s being done under the guise of amending electoral laws:also says an election can’t be expected from a President who ridicules the demand for elections by saying “there is no election to be postponed”.
President Ranil Wickremesinghe expresses deep concern over recent attacks in Israel and it’s implications for Sri Lankans and Israelis in both countries: directs the Foreign Ministry to facilitate the return of all Israelis from SL to Israel and urges Police to ensure the security of Israelis in SL.
Business tycoon & MP Dhammika Perera, 55, announces his intention to contest the next Presidential Election: says he will do so if political parties confirm that they will support him to obtain 51% of the vote: Perera has served as the Chairman or Director of a large number of listed & unlisted companies: his charity (DP Education) provides support for students in the IT sector.
President Ranil Wickremesinghe says cotton cultivation needs to be promoted among small-scale backyard farmers in order to expand production levels and save foreign exchange for the country.
SJB MP Nalin Bandara laments that an SJB MP who visited Geneva recently missed the opportunity to speak at the UNHRC Sessions: says his colleague Hector Appuhamy was given the 45th slot at the Sessions but there was no time for him to speak at the sessions by the end of the day.
Pivithuru Hela Urumaya leader Udaya Gammanpila says President Ranil Wickremasinghe owes an explanation to the public as to why a successor to the IGP C D Wickremaratne couldn’t be named before the end of the incumbent Police Chief’s 2nd 3-month extension.
Top SL spinner Maheesh Theekshana is likely to play in the 2nd World Cup Cricket match against Pakistan today: Assistant Coach Naveed Nawaz says Theekshana wasn’t risked in the 1st game against South Africa as per medical advice.
Colombo (LNW): Two Police Special Task Force (STF) personnel were killed in a tragic accident in Vavuniya, leaving five others wounded last (09) night, Ada Derana reported.
The incident occurred around 9:30 p.m. in Velikulam during a heavy rainstorm last night.
The STF’s Land Rover Defender collided with a cow, leading the vehicle to veer off its path and crash into a wall.
The deceased, two Police Constables from the STF, were 29 and 31 years old, from Kurunegala and Medawachchiya, respectively.
Among the injured are a Sub-Inspector, two Sergeants, and the vehicle’s driver, a Police Constable, and were admitted to the Vavuniya Hospital. Two of them are reportedly in critical condition.
Vavuniya Police have launched investigation into the incident.
PMD: In a significant development, Sri Lanka’s aviation sector has reported a substantial profit of Rs. 22 billion in the period spanning from January to August 2023, said Minister of Port, Shipping and Aviation Mr. Nimal Siripala de Silva, during a news briefing held at the President Media Centre (PMC) Oct (09) focusing on the theme ‘Collective Path to a Stable Country’.
The Minister highlighted that approximately Rs. 10 billion from this profit has already been contributed to Treasury, providing a much-needed boost to the country’s finances.
He further said that efforts are underway to restructure Sri Lankan Airlines, the national carrier, with a focus on improving its operations and financial performance. Importantly, the government is committed to ensuring the job security of the approximately 6000 employees of the airline during this restructuring process. To facilitate this, an international consultant has been appointed. This consultant is expected to bring expertise and best practices to guide the restructuring efforts.
The Minister highlighted the success of operations at Palali International Airport, emphasizing that the airport has completed 200 flights. This achievement underscores the airport’s increasing significance and efficiency in handling air travel.
The Minister acknowledged the challenges faced by the aviation sector in the past, including the impact of the COVID-19 pandemic, reduced tourist arrivals, and a dollar crisis that affected fuel supply for airplanes. He mentioned that, at one point, fuel for airplanes had to be procured by sending aircraft to Madras to obtain the necessary fuel.
To address these challenges, the Minister of Petroleum and Minister Nimal Siripala de Silva intervened and facilitated the import of aviation fuel by the private sector, ensuring a stable supply of fuel for airplanes. Additionally, modern technology was employed to develop Bandaranaike International Airport, earning it recognition as a prominent airport in Southeast Asia.
Efforts were made to increase the frequency of flights by different airlines operating in Sri Lanka. This likely contributes to improved connectivity and accessibility for travellers.
These developments in the Sri Lankan aviation sector signify a positive turn in its financial performance, reflecting resilience in overcoming challenges. The government’s interventions, such as facilitating fuel supply and enhancing airport infrastructure, have contributed to this success. Increased profitability in the aviation sector is expected to have a positive impact on the country’s overall economic stability.
Among the key points highlighted by Minister Nimal Siripala de Silva:
“In accordance with the report, Emirates Airlines currently operates 28 flights per week, China Eastern Air operates 05 flights weekly, Etihad offers 06 flights, Qatar Airways provides an impressive 35 weekly flights, Air Arabia manages 11 flights, Air India operates 17 flights, and Jazeera Air conducts 04 flights per week. Furthermore, several other airlines have expressed their commitment to commence operations in Sri Lanka.
Additionally, it is noteworthy that the operations at Palali International Airport continue to demonstrate remarkable success. Specifically, the flight operations between Madras and Palali, which are scheduled three times a week, have already completed a total of 200 flights, underscoring the airport’s increasing prominence and efficiency.”
The Minister pointed out that Bandaranaike International Airport, Katunayake once a scarcely frequented facility, has now evolved into a bustling aviation hub. Notably, in the month of August, it catered to the needs of over 650,000 passengers. This surge in passenger traffic has contributed significantly to its financial prosperity. In the first eight months of this year alone, the airport has managed to generate a substantial profit of Rs. 22 billion through its aviation services. A commendable portion of this profit, amounting to Rs. 10 billion, has been allocated to the national treasury.
In parallel, a strategic initiative is currently underway to attract potential investors to the Mattala Airport. Furthermore, measures have been put in place to actively mitigate the airport’s operational losses, thereby ensuring its long-term sustainability and financial health.”
“The Cabinet has recently granted approval for a comprehensive restructuring plan for SriLankan Airlines. Following the submission of this proposal to the Treasury, constructive discussions have taken place in collaboration with the World Bank. In an effort to ensure transparency in the restructuring process, it was recommended to enlist the assistance of an international consultant. Consequently, a qualified consultant has been appointed, and crucial steps are actively being taken to expedite the restructuring of SriLankan Airlines. If progress aligns with the planned timeline, the anticipated benefits should be realized by February of the forthcoming year.
It is essential to note that the airline presently does not own any aircraft; instead, all available aircraft are leased. Acquiring new aircraft is not an immediate process and generally involves a waiting period of approximately one year post-order. Due to the absence of A330 aircraft in the current fleet, the airline faces limitations in offering services to destinations such as England, France, and Australia. The existing fleet primarily comprises A320 aircraft, which are unsuitable for long-haul or remote operations. Thus, the restructuring of the airline is imperative to address these challenges effectively.
Recent operational setbacks have resulted in substantial losses amounting to approximately $6 billion. While unions have attributed these delays to technical faults in the aircraft, it’s important to emphasize that pilots must possess certification from a qualified aeronautical engineer before they can undertake flight operations. Moreover, a noteworthy contrast exists in the monthly flight hours flown by our pilots compared to those from other airlines. The majority of our pilots have averaged only 63 flight hours per month, whereas their counterparts in other airlines often accumulate a hundred flight hours. In light of this, a plea is made to our aviation professionals to demonstrate unwavering commitment to institutional success, fostering a culture of responsibility and accountability.
It’s worth mentioning that pilots in our employment receive a monthly salary of four million rupees (40 lakhs). While there have been demands for higher salaries, citing comparisons with the remuneration packages offered by global aviation giants, it is essential to recognize that substantial salary increments may not be feasible in the current circumstances.
Furthermore, Tata’s acquisition of Air India, which includes orders for 250 Boeing 777 aircraft, presents opportunities for collaboration. These collaborations, possibly with regional airlines, offer the potential to secure the future prospects and rights of the 6000th employee of the Sri Lankan company, thereby fortifying the industry’s position.”
Colombo (LNW): Malaysian Minister of Foreign Affairs, Dato Seri Diraja Dr Zambry Abd Kadir, confirmed Malaysia’s support for Sri Lanka’s bid to join the Regional Comprehensive Economic Partnership (RCEP).
This was during a recent meeting with Prime Minister Dinesh Gunawardena at Temple Trees, Colombo.
Sri Lanka’s inclusion in RCEP would enhance its economic ties with the larger South East Asian community, the Sri Lankan Premier pointed out. Minister Zambry Abd Kadir reciprocated by acknowledging the importance of Sri Lanka in their region and ensured unwavering support.
Gunawardena also expressed his commitment to the ASEAN vision for the Indo-Pacific, promising to actively further this economic viewpoint.
The dialogue between the leaders revolved around enhancing bilateral ties, specifically focusing on the potential for expanded trade and investment cooperation within frameworks like the Indian Ocean Rim Association.
The Sri Lankan Prime Minister invited Malaysian investors to explore opportunities in Sri Lanka’s growing sectors, such as hospitality, education, and pharmaceuticals, acknowledging Malaysia’s position as one of the island nation’s top investment partners in recent years.
The Prime Minister appreciated Malaysia for assisting Sri Lanka during last year’s economic hardship. Referring to the strong historical connections and closeness between the two nations, Minister Zambry Abd Kadir conveyed his government’s eagerness to fortify economic and trade relations.
High-level Malaysian delegation included Under Secretary Generals Dato Syed Mohamed Bakri Syed Abdul Rahman and Ahmed Kamrizamil Reza and High Commissioner Badli Hisham Adam.
State Minister Suren Raghavan, MP Yadamini Gunawardena and Secretary to the Prime Minister Anura Dissanayake also attended the meeting.
Colombo (LNW): Following directions from President Ranil Wickremesinghe, President’s Secretary Saman Ekanayake has tasked M.M.P.K. Mayadunne, Secretary of the Ministry of Transport and Highways, with the immediate construction of a temporary access route to the Bambalapitiya railway station.
This provisional pathway is aimed at aiding passenger entry and is expected to be completed within ten days.
Owing to its deteriorated state, the current flyover will be taken down, with plans to finish the construction of a new one in five months.
The President has engaged the State Development and Construction Corporation for the project, providing Rs. 50 million for the initiative.
The design and building process will be overseen by the Road Development Authority, with operations having begun on October 09.
Colombo (LNW): Showers or thunder showers will occur over most places of the Island during the afternoon or night, and fairly heavy showers above 75 mm can be expected at some places in Uva, Central, Sabaragamuwa and Easten provinces, the Department of Meteorology said in its daily weather forecast today (10).
Showers may occur in coastal areas of southern province during the morning, 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:
Showers or thundershowers will occur at a few places in the sea areas around the island.
Winds:
Winds will be southerly and speed will be (20-30) kmph. Wind speed can increase up to 40 kmph at times in the sea areas off the coast extending from Puttalam to Kankasanthurai via Mannar.
State of Sea:
The sea areas off the coast extending from Puttalam to Kankasanthurai via Mannar will be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
Colombo (LNW): The initiation of the rapid passenger ferry service connecting Nagapattinam in Tamil Nadu with Kankesanthurai in Sri Lanka has been delayed due unspecified reasons, The Hindu reported.
Syed Zuhair, Director of K.P.V Shaik Mohamed Rowther & Co Private Limited, the agency handling ticket sales for the ferry, said the service was originally set to begin on October 10.
While the exact reasons for the postponement are not stated, it is anticipated that the service will likely commence on October 12.
The recent raids by the Delhi Police on 46 houses of journalists connected with the Indian news portal NewsClick is shocking. More unsettling is the arrest of Prabir Purkayastha, its Editor-in-Chief, and Amith Chakravorty, its Head of Human Resources, on the pretext of investigating them for a “terror case with Chinese links”. The Indian media has reported that the police has blatantly disregarded the legally sanctioned procedures in arresting the senior journalist and his colleague. The authorities are yet to make known any material on the website with links to any “terrorist activity” or “Chinese propaganda”.
We join the progressive media, civil society organisations and activists in India to condemn in no uncertain terms this brazen attack by the government on the free media. Harassment and intimidation of the independent media by the misuse of the police and state agencies for narrow political gains is part of a growing trend in a country claimed to be the ‘Mother of Democracy.’ Many commentators have likened this trend to the stifling times of the Emergency in India during the 1970s, although a State of Emergency has not been formally declared now.
The growing assault on free expression and democratic rights in South Asia is no longer a country-specific development. Neither is it confined to specific nation states. It is a regional phenomenon, signalling a new phase of democratic backsliding in South Asia. In recent weeks, journalists in Bangladesh have been subjected to enormous pressure, by way of judicial harassment, police violence, online harassment, attacks at reporting assignments, and intimidation of journalists’ families. We particularly take note of the recent jailing of Adilur Rahman Khan and Nasiruddian Elan, two leading human rights campaigners atatched Odhikar, Bangladesh. In Sri Lanka, the government has tabled and is threatening to pass what it calls an ‘Online Safety Bill’, a legislation that provides a draconian legal framework to potentially stifle dissent and free expression. Such moves have a chilling effect on journalists and rights defenders, inhibiting them from speaking truth to power.
The latest developments in India and Sri Lanka ring an alarm bell for all of us in South Asia who care about preserving our democratic rights and freedoms. In their decided attempts to target journalists, or to harass or silence other dissenting voices, our governments have begun to employ the new tactic of portraying journalists and citizen-activists who dare to expose the misdeeds of those in power as “anti-national” and threats to national security. By denying the citizens the democratic space for critical questioning, dissent and debate, and deploying the coercive power of the state in full force against the media and the media professionals, our governments seem to show how impatient they are to drag our countries into a new phase of authoritarian decay. This indeed is bad political news for the whole of South Asia.
Therefore, struggles for media freedom in India, Bangladesh, Sri Lanka or elsewhere in the region is to be viewed as integral to the struggle for democracy in South Asia as a whole. Amid the heightening attacks on free media and the right to free expression, we must respond collectively as South Asians. We must resist tyranny in all forms, and fight to restore and strengthen our fundamental rights and democratic freedoms. We must resolve to look out for each other, assert our rights, and defend our freedoms within and beyond our individual nation-states.
We demand the immediate release of Prabir Purkayastha and Amith Chakravorty. We condemn the actions by governments in South Asia designed to silence the critical and independent media by using the stringent national security legislation. We also urge all the South Asians concerned with media freedom, human rights and rule of law to work together to defend democracy in the region through solidarity and joint action beyond national boundaries.
Colombo (LNW): The Medical Faculty Student’s Union of the University of Colombo staged a protest this (09) afternoon at the Townhall Junction, Colombo demanding an end to the government’s attempt of privatising the medical degree.
Their slogans stood against the offering of medical degrees by private universities like Lyceum, NSBM, Gateway, SLIIT and Kotelawala Defence Academy.
As the protest was on the go, a heated exchange occurred between the protesters and the Police.
Symbolising the alleged end of free education, the protesters demonstrated an act in which they held a coffin, during which time the heated exchange between them and the Police occurred.
The Police took the coffin into their custody, and the protesters thereafter lit candles and continued their demonstration at the Lipton Circle for about an hour.
World (LNW): Claudia Goldin, an American economic historian known for her pioneering work on wage inequality between genders, has been awarded the 2023 Nobel Economics Prize.
The Royal Swedish Academy of Sciences recognised Goldin’s groundbreaking research on the history of women’s earnings and participation in the workforce.
Her influential book, “Understanding The Gender Gap: An Economic History Of American Women” (1990), explored the origins of wage disparity.
Photo: Sky News
Goldin also conducted research on various societal indicators, such as the effect of contraceptives on women’s career choices and the significance of women’s surname choices post-marriage.
A notable figure, she was the first woman to receive tenure in Harvard’s economics department and is the third female recipient of the Nobel economics prize.
The economic prize committee emphasised the profound societal impact of her findings, highlighting the clarity it brings to addressing gender-based issues in the workforce.
