Colombo (LNW): The Employees’ Provident Fund (EPF) of Sri Lanka remains the single largest holder of government treasury bonds, a survey by Verité Research disclosed.
One of the key components of the government’s domestic debt optimisation plan is the restructuring of bond holdings associated with superannuation funds, which are funds set up for retirement benefits.
The EPF is considered as the country’s largest superannuation fund and is a predominant holder of treasury bonds at the end of 2022.
According to the Verité Research survey, the EPF remains the single largest holder of government treasury bonds, which is at 36 per cent out of the 43 per cent of superannuation funds referred to treasury bonds.
Other bond holders include insurance (04 per cent), licenced specialised banks (09 per cent), licenced commercial banks (36 per cent), other superannuation funds (06 per cent), and other (09 per cent).
Colombo (LNW): The Sri Lankan Rupee today (18) indicates further depreciation against the US Dollar as revealed by leading commercial banks in Sri Lanka, in comparison to yesterday.
At Peoples Bank, the buying price of the US Dollar has increased to Rs. 314.34 from Rs. 312.24, and the selling price to Rs. 329.80 from Rs. 327.76.
At Commercial Bank, the buying price of the US Dollar has increased to Rs. 315.99 from Rs. 311.01, and the selling price to Rs. 327.50 from Rs. 322.50.
At Sampath Bank, the buying price of the US Dollar has increased to Rs. 315 from Rs. 312, and the selling price to Rs. 328 from Rs. 327.
Colombo (LNW): The Secretary to the President has issued an extraordinary gazette declaring a number of services as essential.
Accordingly,
All services connected to the supply of electricity,
All services connected to the the supply or distribution of petroleum products and fuel, and
All services necessary or required to be done in connection with the maintenance, and the reception, care feeding, and treatment, of patients in hospitals, nursing homes, dispensaries and other similar institutions will be considered essential.
Colombo (LNW): The Sri Lanka State Trading (General) Corporation has requested for permission from the Food Advisory Committee to release the egg stocks imported from India to the local market, Corporation Chief Asiri Valisundara said.
Following discussions with the Department of Animal Production and Health, eggs will be released to the supermarkets in Sri Lanka, he added.
However, the eggs imported from India are yet to be released to the market, Valisundara noted.
Ahead of his first official visit to India this week, Sri Lanka‘s President Ranil Wickremesinghe will hold talks with the Tamil National Alliance (TNA) on Tuesday in Parliament in a bid to settle the long-standing Tamil minority demand for political autonomy, sources said here on Monday. TNA is an alliance of parties that represent Tamils from the North and East regions. The TNA-Wickremesinghe parley is to take place on Tuesday afternoon in Parliament, sources said.
Wickremesinghe leaves for New Delhi on July 20 and on July 21, the President will meet Prime Minister Narendra Modi, officials in the foreign office here said.
Since December, Wickremesinghe had opened dialogue with the TNA in a bid to settle the long-standing Tamil minority demand for political autonomy.
Wickremesinghe mooted the idea for full implementation of the India-backed 13th Amendment which came to be opposed by the powerful Buddhist clergy in a case of history repeating itself.
The 13A provides for the devolution of power to the Tamil community in Sri Lanka. India has been pressing Sri Lanka to implement the 13A which was brought in after the Indo-Sri Lankan agreement of 1987.
The Tamil side insisted on resolving the immediate issues of concern such as the release of private lands held for military purposes, the release of Tamil political prisoners and conflict reparations.
Although some of the lands came to be released and a few prisoners were also released but the Tamil side remain largely dissatisfied.
A few former militant Tamil parties who are not part of the TNA have also written to Prime Minister Narendra Modi urging him to pressure Wickremesinghe into full implementation of the 13th Amendment.
The group includes the Democratic Fighters Party of rehabilitated ex-member of the Liberation Tigers of Tamil Eelam (LTTE) who ran a three-decades-old separatist war to carve out a separate Tamil state.
They demand that land and police powers retained by the central government be granted to the northern provincial council including holding of the election postponed since 2018.
Meanwhile, the state minister of fisheries Piyal Nishantha said the thorny issue of illegal fishing in the Sri Lankan waters by Indian fishermen would be discussed during the visit to New Delhi.
Sri Lanka has had a long history of failed negotiations with the Tamils.
An Indian effort in 1987, which created the system of a joint provincial council for the Tamil-dominated North and East, faltered as the minority community claimed it fell short of full autonomy.
The LTTE ran a military campaign for a separate Tamil homeland in the northern and eastern provinces of the island nation for nearly 30 years before its collapse in 2009 after the Sri Lankan Army killed its supreme leader Velupillai Prabhakaran.
According to Sri Lankan government figures, over 20,000 people are missing due to various conflicts including the three-decade brutal war with Lankan Tamils in the north and east which claimed at least 100,000 lives.
International rights groups claim at least 40,000 ethnic Tamil civilians were killed in the final stages of the war, but the Sri Lankan government has disputed the figures.
Parliament Media Unit quotes Secretary-General Kushani Rohanadeera that Party Leaders had approved a motion to appoint a Select Committee to ascertain whether the privileges of MPs have been violated by the former members of the Election Commission: Opposition Leader Sajith Premadasa says the Govt move is to intimidate public officials.
Gampaha Magistrate’s Court orders the Range Forest Officer of Gampaha to appear before Court on July 21, to submit facts pertaining to the removal of the endemic endangered tree “Crudia Zeylanica” also known as “Pandu Karanda” from the area of Daraluwa in Veyangoda, along the path of the Central Expressway: previously, the Highways Minister Bandula Gunawardene has said the endangered tree was cut down as per a Cabinet decision.
While the Census Dept has reported that the economy had undergone severe contractions of 8.4%, 11.8%,12.4% & 11.5% in the last 4 quarters (2Q22, 3Q22, 4Q22 & 1Q23), the Inland Revenue Dept says Sri Lankans paid Rs.697 bn as taxes to the IRD in the first half of 2023, compared with only Rs.362 bn in 2022, indicating an increase of Rs.335 bn (92%).
Popular local newspaper reveals that their findings of interviews indicate that people living at the grassroots level and middle-income earners are “cutting corners” to deal with the ever-increasing cost of living: also reveal that such situation has brought the daily life of many households to a standstill.
Health Minister Keheliya Rabukwella appoints a 5 member expert committee headed by Professor Chandima Jeewandara to probe recent deaths in Govt hospitals and various other issues reported in Govt hospitals.
Agriculture Minister Mahinda Amaraweera says 512,000 hectares of paddy fields were cultivated in the “Yala” season after 10 years, due to President Ranil Wickremesinghe’s new fertiliser policy: also says that under the Agriculture Modernisation Programme, it is planned to achieve 80% of the agricultural production output of the country’s consumption by 2025.
JVP Propaganda Secretary and NPP MP Vijitha Herath says the Govt is planning to introduce a 12-hour workday: also says the Govt is trying to deprive the workers of their legitimate rights by abolishing 13 Acts including the Shop and Office Employees Act and the Wages Boards Ordinance, at the behest of the IMF.
Secretary of the GMOA Dr. Haritha Aluthge says one of the main reasons for the sorry state of affairs in the health sector is corruption: urges the Health Minister to show his sincerity by sacking officials who are facing serious allegations: adds that health officials had ignored the repeated warnings of professional organisations.
SL Buddhist Lawyers’ Association President, Uditha Egalahewa says that the SLBLA strongly condemns the partisan and selective approach of the Bar Association with regard to the issuance of statements, although it agrees with the sentiments expressed by the BASL to uphold the rule of law and safeguard the independence of the judiciary.
President of the Trichy based “Indian Origin Upcountry Tamils Front” M S Selvaraj says those Tamils of Indian origin who were repatriated to India under the Sirima-Shastri Pact are living in a state of limbo for over 6 decades: also says the Group would demand an “international intervention” into their miseries, socio-economic backwardness, and the division of their families from India, Sri Lanka and UK at the International Court of Justice: Tamil Progressive Alliance Leader and SJB MP Mano Ganesan also participates at the meeting.
Colombo (LNW): The Experts Health Committee appointed by Health Minister Keheliya Rambukwella to probe the recent events happened in the Health Sector surrounding controversy is set to convene today (18).
The Committee was appointed following reports of patients who experienced allergic reactions upon being administered with antibiotics at two leading hospitals in the country, some of which led to fatalities.
The six-member Committee of Health Experts is expected to focus on its future course of action and submit a report on the issue in the next three weeks.
Meanwhile, the government of Sri Lanka is being met with severe pressure by a number of parties, including the Opposition, civil activists and concerned parties over the collapsed Health Service, evident of which two women, including a pregnant mother, were pronounced dead at the Peradeniya Teaching Hospital after being administered with an anaesthetic drug, and a 21-year old girl who was receiving treatment for a stomach ailment was pronounced dead.
Colombo (LNW): The Parliament Select Committee appointed to probe the country’s bankruptcy is set to convene for the very first time today (18) in Parliament.
The meeting will focus on the Committee’s future course of action, and discuss the names of the parties who will be first to be summoned before the PSC pertaining to the matter, said Committee Chairman, SLPP Secretary General Sagara Kariyawasam.
The PSC appointed by Speaker Mahinda Yapa Abeywardena to probe Sri Lanka’s economic downfall met with immediate backlash upon its formation in the allegation that it is being chaired by and represented by some of the key respondents to the very bankruptcy against which it was appointed.
Both the Samagi Jana Balawegaya (SJB) and its allied parties and the National People’s Power (NPP) dropped themselves out from its membership, calling the Committee ‘bogus’.
Meanwhile, the SJB has decided to appointed an alternative committee to probe the bankruptcy situation.
PMD: As a result of the new fertiliser policy of President Ranil Wickremesinghe, 512,000 hectares of paddy fields were cultivated in the Yala season after 10 years, Minister of Agriculture Mahinda Amaraweera said.
The minister added that 80% of the nation’s agricultural production is expected to be produced by 2025 as part of President Ranil Wickremesinghe’s strategy to modernise the agricultural industry.
The use of contemporary technologies in agriculture can improve production of fruits and vegetables intended for export and reduce the amount of agricultural crops that are imported, Minister Amaraweera added.
He expressed these views today (17) during a press conference themed ‘One Year of Progress’ held at the Presidential Media Centre (PMC).
Minister Mahinda Amaraweera further commented;
Within a year of taking office, President Ranil Wickremesinghe promptly fixed the farmers’ issues and tried to get them back to farming.
Without a doubt, the country’s circumstances were dire when President Ranil Wickremesinghe assumed office and I took over the Ministry of Agriculture. Farmers protested on the roads demanding fertiliser. The youths of the farming families left the farms and moved to other areas.
Some young people even left the country. The biggest issue in this case was guiding them back to the farmland. The public had no confidence in the Ministers. Even at the meetings on this problem, the farmers stayed away.
If they wish to return to the fields, they demand to be provided fertiliser. Although 275 000 hectares were supposed to be cultivated in that Yala season only 212, 000 hectares were cultivated. At that time, President Ranil Wickremesinghe negotiated with the Indian Government and arranged to provide 6,500 metric tons of fertiliser under the Indian loan scheme. However, the Indian loan arrangement does not allow for the provision of fertilisers. The fertiliser was imported from Oman. Only after learning that a ship carrying fertiliser was approaching the Port did the farmers venture back to their fields. This allowed for the cultivation of 512 000 hectares. It is now the most cultivated hectares in the Yala season after ten years.
The farmers arrived back at the farmland in this manner. A global food crisis was anticipated at the time, according to the warnings. Despite considerable success during the Yala season, 800,000 metric tons of rice had to be imported due to the fertiliser issue. The amount of rice that the government had to import was 300 million USD. For animal feed, another 100 million USD was invested. The farmers received fuel and financial aid to carry out the required farming tasks. Additionally, steps were taken to give small-scale farmers a supplementary urea fertiliser subsidy. Money was deposited to farmers’ accounts so they could also purchase organic fertilisers.
The Yala season has now begun. After three seasons, measures were taken to make mud fertiliser available without charge. The newly imported urea fertiliser is offered for Rs. 9000. A voucher of Rs.2000 is issued per one hectare to purchase Bundi fertiliser. The farmers have now received an unexpected subsidy. They did not request for free fertiliser. However, President Ranil Wickremesinghe is of the opinion that more help should be given to improve the status quo.
There is a chance to advance the level of our nation’s agriculture on a global scale. Modern technology is being introduced to agriculture through many means. There may be several difficulties here. However, every effort is made to develop agriculture using contemporary technologies. Numerous individuals, both inside and outside of the political sphere, have criticised these actions. They have alleged that imported fertilisers to be substandard and the harvest to be poor.
There are still plenty of initiatives to dissuade farmers. Despite what they claim, the farmers have returned to their farms. The Agricultural Services Act is currently being amended. In addition to the current subsidies, steps are being taken to provide subsidies in the cultivation of other crops. There are several areas where paddy agriculture is not profitable. The government is ready to help them grow other crops. They have the potential to earn more income by switching to other crops.
The farmers in this country would not only have abandoned their fields if the President had not come into power, but many of them might have also taken their own lives. And we could have become a weak nation due to scarcity of food.
When the President assumed office a year ago, food inflation was nearly 90%. So far, food inflation has decreased to 4.1%. All the farmers of this country deserve the respect and praise of the citizens for being committed to create a renaissance in the country’s agriculture and creating food security in the country. Also, the country has saved 400 USD as the farmers have resumed cultivation.
President Ranil Wickremesinghe gave instructions to establish an Agricultural Modernisation Secretariat for the modernisation of the agricultural sector in the Presidential Secretariat in parallel to accelerate the country’s sustainable economic growth. The main responsibility of the Agricultural Modernisation Secretariat is to solve problems related to various dimensions of modernisation, including specific problems affecting various sub-sectors. It envisages preparation of roadmaps for each sub-sector to modernise agriculture with time-bound measures and performance benchmarks.
In order to formally implement this responsibility, the Agricultural Modernisation Secretariat has been established by involving all ministries, private sector and universities related to the subject of agriculture. This Agricultural Modernisation Secretariat has been operating since May 31 this year based on improving the production and productivity of the agricultural, livestock and animal products sectors using modern technology, increasing the farmer’s income, and increasing the export income.
A national policy framework is currently being prepared under the leadership of Professor Gamini Senanayake of University of Ruhuna as per the instructions of the President in order to get the agricultural sector’s assistance in creating a ‘Developed Sri Lanka’ by the year 2048 through sustainable agricultural development, production of export-oriented agricultural products, assurance of local food security and the transformation of the youth group into ‘Agribusiness Entrepreneurs associated with new technology’. The goal is to have this policy framework completed by the end of August 2023.
The average yield of paddy in this country is about 3.7 metric tons per hectare. A set of farmers from Hambantota have been able to obtain 10.25 metric tons of paddy per hectare by following good agricultural practices and using quality seed materials. Therefore, the primary goal is to double the current average annual yield for paddy by six seasons from 3.7 metric tons to 7.4. metric tons.
Average maize yield in Sri Lanka is about 3.7 metric tons per hectare. By the end of 2026, it is expected to increase it up to 60 metric tons. Steps will be taken to construct high-tech model cultivation plots as pilot projects for both crops and livestock in each province, with the help of the Provincial Council, the line Ministry, the Central Government, private sector and universities.
Secretary of the Ministry of Agriculture Gunadasa Samarasinghe, Director General of Agriculture P. Malathi, Agricultural Services Commissioner General A. H. M. L. Abeyratne, Chairman of Fertiliser Corporation Dr. Jagath Perera, Director of National Fertiliser Secretariat Chandana Lokuhewage were also present.
Colombo (LNW): Several spells of showers will occur in Western, Sabaragamuwa and North-Western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts, and showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts during the evening or night, said the Department of Meteorology in its daily weather forecast today (18).
Fairly strong winds about (40-45) kmph can be expected at times in western slopes of the central hills, Northern, North-Central and North-western provinces, and in Monaragala, Hambantota and Trincomalee districts.
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 several places in the sea areas off the coast extending from Colombo to Matara via Galle.
Winds:
Winds will be south-westerly and speed will be (30-40) kmph. Wind speed may increase up to (45-55) kmph at times in the sea areas off the coast extending from Hambantota to Pottuvil and in the sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai. Wind speed may increase up to (40-50) kmph at times in the sea areas off the coast extending from Puttalam to Hambantota via Colombo, Galle and Matara.
State of Sea:
The sea areas off the coast extending from Trincomalee to Pottuvil via Kankasanthurai, Mannar, Colombo, Galle and Hambanthota will be rough at times. The other sea areas off the coast extending from Puttalam to Hambantota via Colombo, Galle and Matara may be fairly rough. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
