Sri Lanka government is ready assist local toddy producers to enter into international markets by manufacturing quality and unadulterated alcoholic beverages for exports to earn much needed foreign exchange.
Finance State Minister Ranjith Siyambalapitiya noted that all necessary steps would be taken to take Sri Lanka’s toddy to the international market.
He said that with the current foreign exchange crisis, the demand for natural Sri Lankan toddy in the world market is high, and a huge demand has been created in the international market.
The minister emphasized that the manufacturing of artificial toddy, had posed a huge threat to the toddy industry. Therefore, it was very much needed to increase the natural toddy production in the country.
This was revealed following a discussion held with several toddy manufacturers and exporters at the Ministry.
He said necessary arrangements will be made to collect tax from the production of a litre of toddy, and he further informed the producers to give it their maximum support.
The attention of the minister also focused on the urgent construction of laboratories outside Colombo to test the quality of toddy product
The Excise Department and relevant authorities have been directed to facilitate exports of locally produced alcoholic beverages in demand by clearing legal hurdles.
Two newly formed companies are to produce popular fruit-based alcoholic beverage cider, using local fruits and milk- based alcoholic beverage milk punch, targeting export markets.
In 2022, the country exported US $ 21 million worth of alcoholic beverages to 35 countries, slightly up from US $ 20 million in export earnings recorded in 2020.
Minister Siyambalapitiya disclosed that locally produced coconut, kithul and palmyrah toddy are becoming popular in several foreign countries.
Measures will be taken to promote locally produced toddies, by organizing a toddy festival targeting foreign consumers heeding to a proposal made by a leading local corporate.
Further, Siyambalapitiya also opined that suitable import substitutions are needed to curb forex outflows through foreign liquor imports while noting that the country imported over US $ 2 million worth of wine and whisky alone in 2022 despite the economic crisis.
The legal alcohol consumption in the country has declined by 20-30 percent in recent months, owing to the economic crisis and high taxation.
The Excise Department was able to collect Rs.170 billion in taxes in 2022, closer to the Rs.185 billion target set by the government, which is mainly due to the implementation of a foolproof sticker and labeling system.
For this year, the government has set a daunting Rs.217 billion revenue target for the Excise Department.
Govt assists the local toddy industry to explore the export market
Over 200 endangered tortoises labelled as “Seafood” seized in SL
The live tortoises, stuffed inside cloth sacks and packed in six boxes labelled as “dried seafood”, were being smuggled out to Kuala Lumpur.
NDTV (Colombo): Sri Lankan customs officers have seized 206 live star tortoises, which are listed as an endangered species, that were being smuggled to Malaysia in boxes labelled as “dried seafood”, the largest such capture since 2015.
The Biodiversity, Cultural and National Heritage Protection Division of Sri Lanka customs seized the live tortoises at the Air Cargo Exports Terminal of Colombo international airport on Saturday, a customs release said.
The live tortoises, stuffed inside cloth sacks and packed in six boxes labelled as “dried seafood”, were being smuggled out to Kuala Lumpur, it said.
According to the officials, it was the largest seizure since mid-2015 when a bid to smuggle 124 tortoises was foiled.
Sri Lankan star tortoises are the same species (Geochelone elegans) as that found in India and Pakistan but have a specific geographic identity, the customs officials said.
“It is one of the most beautiful tortoise species found in the world and due to the same reason they have been highly sought after in the illegal pet trade, especially in the South East Asian countries,” they said.
“As a result, the species has become threatened with extinction and included in the International Union for the Conservation of Nature (IUCN) Red List of species and also in Appendix I of the Convention of International Trade in Endangered Species of Wild Fauna and Flora (CITES),” the officials added.
They said that the according to Fauna and Flora Protection Ordinance (section 40), attempt to export any mammal, bird, reptile, amphibian, fish, coral or invertebrate, eggs, among others without the permission of the Director General of the Wildlife Conservation Department is an offence and also simultaneously violates the Customs Ordinance.
Source: NDTV
Credit card usage down with balance due rose to over Rs2.6 billion
Sri Lankans, whose real incomes are getting hammered on a daily basis from soaring inflation, have turned to their credit cards, as there was a considerable increase in the outstanding balance of credit cards in December from a month ago, when the financial and economic misery became more pronounced.
Before the Covid-19 pandemic and economic crisis banks, both state and private, have realized the potential for credit cards among the country’s ever-growing middle class, with many of them introducing affordable offers packaged with attractive benefits for lower to middle-income earners who have just entered the job market.
A growing number of customers have opted for credit cards solely for the sheer convenience they provide.
But the things have changed now as the country is struggling to survive in the unprecedented economic crisis coupled with hyper inflation running at over 54 percent and economic hardships as result of ever increasing cost of living.
This situation had compelled the middle class income earners to move away from the use of credit cards and most of them find it difficult to pay outstanding balance due to high interest rates.
The total outstanding credit card balance continued to climb in December 2022, though slower than a month ago, as consumer credit markets showed signs of picking up after months-long languishing for most part of the year.
According to official data d that in December, the outstanding credit card balance rose by Rs.2, 675 million while private sector credit continued to contract at a faster rate. In November, card balance rose by Rs.3,721 million.
The private sector credit fell by Rs.72.6 billion in December, accelerating from the Rs.30.9 billion decline seen in November reflecting the extent to which the credit markets have shrunk.
After the December expansion, licensed commercial banks had a total outstanding credit card balance of Rs.143.1 billion.
For the full-year, such credit grew by Rs.9,813 million, a much slower pace than what was seen in previous years.
People cut down on credit card spend as banks tightened their credit standards drastically in response to the elevated rates and weakening household balance sheets in a declining economy to safeguard their asset quality.
People also spent less last year on things for which they mostly used their credit cards such as consumer durables, clothes, travel, leisure and recreational activities.
Although people are moving away from credit cards, Sri Lanka still has 1,952,992 cards in active mode compared to a roughly 8.5 million workforce.
In December, banks issued just 1,174 new cards and 25,796 cards for the full year. As inflation eases and economic conditions improve relative to the upheaval seen last year, there could be some uptick in card spend this year compared to 2022.
Card use has come down drastically when the rates on cards were raised to the restrictive level of 36 percent within months, doubling from where it was earlier.
SL tourism earns US$161.8 nillion with 24.5% increase in arrivals in Jan 2023
Sri Lanka tourism revival efforts of the country’s tourism development authority (SLTDA) is now yielding positive results with significant increase in travelers’ arrival in January 2023 to 102,545 an increase of 24.5% compared to January 2022 and reaching 43% pre pandemic levels (2018).
The tourism promotion campaign of the SLTDA is aimed at achieving the ambitious target of 1.5 million arrivals and an income of $ 5 billion by attracting high-end travelers who spend over $ 400 per day from the current $ 200, Chairman of the authority Priyantha Fernando disclosed.
He added that this will not be mission impossible following the country’s return to social political stability without any interruptions at a time where the island nation is just beginning the tourism revival despite many challenges.
Earnings from tourism trade continued its months-long ascension with the encouraging arrival numbers, which topped over 100,000 in January, a feat which became possible after almost a year.
This helped the trade to earn US$ 161.8 million in January, recording 6.7 percent growth over the same month in 2022.
This trend can be attributed to the peak travel season in Sri Lanka, as well as the other factors such as resumed cruise tourism and increased connectivity to the country, SLTDA announced.
In addition to the pent-up demand, the relaxation of travel restrictions in various source markets is also crucial in the travel recovery.
The top countries of origin for tourists in January were the Russian Federation, India, the United Kingdom, Germany and France, the authority revealed.
Europe emerged as the primary source of tourists visiting Sri Lanka, accounting for 66.1% of total arrivals. It is believed that pent-up demand from countries such as the Russian Federation, UK, Germany, France and Israel contributed to this increase in tourism.
Meanwhile, 25.3% of tourists came from Asia and the Pacific region, 6.4% from the Americas, and 1.5% from the Middle East.
Factors such as the lifting of travel restrictions and improved air accessibility in Sri Lanka could be the factors that contributed to the growth in tourism, Mr Fernado said. .
According to the UNWTO, international tourism is expected to further recover in 2023 due to growing demand.
However,international tourism’s sustained recovery may be hindered by economic, health and geopolitical obstacles.
An analysis of tourist arrivals by purpose of visit reveals that a majority 55.7% of tourists had visited Sri Lanka for pleasure/vacation, while for 17% of tourists the main purpose was visiting friends and relatives. Only 4.5% of tourists had visited for business related purposes.
The majority of tourists visiting Sri Lanka from the top source markets of Russia, India, Germany, the United Kingdom, France, and Israel, traveled to Sri Lanka for pleasure or vacation.
Specifically, 57% of tourists from Russia, 52.4% from India, 70% from Germany,52% from the United Kingdom, 70% from France, and 69% from Israel visited Sri Lanka for this purpose.
Nepalese billionaire Binod Chaudhary pays an official visit to SL
By: Isuru Parakrama
Colombo (LNW): Nepalese billionaire Binod Chaudhary paid an official visit to Sri Lanka.
During his visit, Mr. Chaudhary met with the Board of Investment of Sri Lanka (BOI) and held discussions on potential investment opportunities with a key focus on distribution, retail, leisure, financial services and manufacturing.
Owner to a net worth of US $1.5 billion, Chaudhary is the only ‘dollar’ billionaire in Nepal. He is the chairman of the Chaudhary Group and is recognised as the 1,851st richest person in the world, according to Forbes.
‘CBSL Chief disregards trade mis-invoicing; collaborates with corporate and political corruption’
- Commercial and Industrial Workers’ Union and United Federation of Labour make fresh charges
- Claims CBSL seems to function on the personal ‘belief’ of Governor
- CBSL continues to bury its head in the sand while the country is robbed by business elites in the export and import sector, saying corporate corruption is ‘their business’
- CBSL ignores crucial findings and recommendations of IMF, World Bank, ADB, UNCTAD and OHCHR on illicit financial outflows affecting countries like Sri Lanka
- Trade unions demand immediate coordinated effort between CBSL, Commercial Banks and Customs to investigate the issue and repatriate illicitly transferred funds, starting from most recent transactions
In the on-going discourse over trade mis-invoicing, the Commercial and Industrial Workers’ Union and United Federation of Labour President Swasthika Arulingam on behalf of several trade unions and activists, last week made fresh charges.
Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has disregarded and trivialised the extent of illicit financial flows through trade mis-invoicing in instigating Sri Lanka’s ongoing foreign exchange and fiscal crisis. This was fully apparent at the Parliamentary Committee on Public Finance meeting on 23 January in response to revelations made by us as a collective of Sri Lanka’s prominent trade unions, mass organisations, professionals and economists.
In response to questions raised by Parliamentarians on our statement at the Committee meeting, the CBSL Governor responded, “Obviously people who do under-invoicing or over-invoicing happens basically to evade taxes. If you have taxation, you declare low value and pay low taxes and then they keep money. Probably they keep it out or bring it here. That’s their business. We don’t know.”
The Governor of the country’s Central Bank continued to rationalise or mis-rationalise his admitted ignorance by speaking in a language which is alien to economists, saying, “Other thing is,
I don’t believe this number. Reason is if exporters are doing business here, they can’t keep that amount of money abroad.”
After hearing this, we as citizens are concerned whether the operations of the CBSL are in fact moving forward on the erroneous personal beliefs of the CBSL Governor at this time of deep economic crisis. Since the CBSL Governor ‘does not know’, we as trade unions, civil society organisations, economists and concerned professionals find the need to enlighten him, CBSL Officials and all concerned citizens the extent and dynamics of trade mis-invoicing in accelerating Sri Lanka’s economic collapse. In the following account we will critically address the misleading remarks of CBSL Governor on capital outflows through trade mis-invoicing.
International recognition that trade mis-invoicing is not a myth
The CBSL Governor dismissed the findings of Global Financial Integrity (GFI) report published in December 2021 which pointed out that an estimated $ 40 billion was transferred out of the economy between 2009 and 2018 through fraudulent invoicing by corporates operating in the import-export sector. This figure significantly exceeds Sri Lanka’s foreign debt of $ 36 billion in default since April 2022. The impact of capital outflows of this magnitude on the ongoing economic collapse is self-explanatory. Nevertheless, the CBSL Governor is of the view that corporates would not have sufficient funds to operate within the economy if such a large sum of capital is held outside the country. Consequently, he falsely concludes that the GFI estimates are extreme exaggerations. This amounts to a complete misunderstanding of illicit outflows globally. If not, it indicates that the CBSL’s Governor and officials are colluding with business interests and the political establishment to trivialise and dismiss what appears to be the largest financial crime in Sri Lankan history.
These outflows are surpluses from both legal and illegal operations and therefore are not reutilised in domestic operations and in the interest of expanding industries locally. Economists such as Professor Arun Kumar at Jawaharlal Nehru University, New Delhi, have pointed out that the illegal outflow of capital is used to acquire property abroad or in conspicuous luxury consumption. In other words, illicit financial outflows enable the extravagant enrichment of individuals at the expense of entire countries in the third world.
However illicit financial flows are a common occurrence in countries which have poor financial controls. For instance, the UN referring to the GFI report published in 2014 recognised that illicit financial flows from the African continent through trade mis-invoicing from 1970 to 2009 is a staggering four times the aggregate foreign debt of the region. Furthermore, the UN Conference on Trade and Development (UNCTAD) in September 2020 revealed that an estimated $ 88.6 billion leaves the African continent as illicit capital flight yearly and the aggregate outflows between 2000-2015 ($ 836 billion) is far greater than total foreign borrowings of the continent ($ 770 billion).
The ground-breaking findings of GFI and their collective work with the UN, the World Bank and the IMF advocated including illicit financial flows in the UN’s Sustainable Development Goals in 2015 under goal 16.4 to which Sri Lanka is also a signatory. As early as September 2018, Juan Pablo Bohoslavsky, the UN’s Independent Expert on Foreign Debt and Human Rights for 2014-2020 stated following his visit to Sri Lanka that “no study or official estimation of illicit outflows or inflows has been conducted to date in Sri Lanka”. In his report, he urged the Government “to conduct these studies in order to further curb illicit financial flows in line with the Sustainable Development Goals.”
Further, the Asian Development Bank (ADB) in 2003 emphasised that “inaccurate pricing (“misinvoicing”) of imports or exports [is used] to hide the transfer of funds. When such transactions are extensive, the impact on a country’s entire external sector can be substantial” (ADB, Manual on Countering Money Laundering, 2003). In 2017, the ADB further estimated that trade mis-invoicing accounts for a staggering 83% of all illicit capital outflows from developing countries. The recent statement endorsed by 182 globally renowned economists, academics and activists demanding cancellation of Sri Lanka’s foreign debt also highlighted that capital outflows during the past 15 years is estimated to be greater than Sri Lanka’s total outstanding foreign debt.
There is thus a vast body of research conducted by institutions such as the ADB, IMF, World Bank, OHCHR, UNCTAD and international economists on what happens to national economic development when rampant corruption is allowed through illicit financial flows. It is therefore hugely concerning that our CBSL Governor ‘does not believe’ and does not seem to be aware of the impact illicit financial flows through trade mis-invoicing have had on the Sri Lankan debt crisis. Ultimately, it is a tragedy that Sri Lanka’s foremost authority on economic affairs is completely oblivious to chronic issues engulfing the developing world and the root causes of the fiscal crises we face. Alternatively, if this is not ignorance or misunderstanding, then it points to deliberate collusion by the CBSL’s Governor and his officials with business interests and the political establishment to trivialise and dismiss what are massive financial crimes.
Government enabling of illicit capital flows
We are well aware that the Sri Lankan Government ‘legally’ permitted companies to park income outside the country for years and that this economic hara-kiri was only addressed in October 2021 through a regulation under the Monetary Law Act. It is our interest as citizens to know the full impact of this disastrous blunder. We demand that the CBSL publicise the amount of residual income that the export sector failed to repatriate between the period October 2021 to date, thereby aggravating the economic crisis. We further request institutions such as the CBSL to be responsible and reflect on the implications of the ‘legality’ of enabling local companies to take capital on a developing economy like ours’ in the long run. We are glad to note that the CBSL Governor is aware of other developing countries such as India and Malaysia which have placed restrictions on financial flows as part of a policy framework to accelerate their development with the capital produced in their own countries.
CBSL Governor passing the buck to Customs
In a separate press conference on 26 January, Dr. Nandalal Weerasinghe stated it is the responsibility of the public to inform the Financial Investigative Unit (FIU) of CBSL and Customs Department if they have conclusive evidence of firms involved in fraudulent trade invoicing. It is only then he claimed that the FIU of CBSL and Customs Department can take appropriate legal measures against the perpetrators. He further stated it is the responsibility of Customs Department to address mis-invoicing and not of the CBSL. These assertions indicate the reluctance of CBSL to recognise and investigate illicit outflows.
It is shocking to hear from the Governor that it is the general public who should provide information or advise CBSL on highly technical matters like illicit capital transfers when the CBSL employs the greatest number of Ph.D. holders under one institution in Sri Lanka. Furthermore, it is clearly stated throughout the Monetary Law Act, No. 58 of 1949 that the CBSL bears the responsibility and authority to address issues threatening the economic stability and economic wellbeing of the general public. Hence, the CBSL cannot simply abdicate responsibility by passing the mantle to Customs Department and the general public.
Export profits are only a fraction of capital transfers through trade mis-invoicing
During the Parliamentary Committee on Public Finance meeting, the CBSL Governor further claimed that capital flight through trade mis-invoicing is tantamount to shifting profits to an overseas destination for tax avoidance. However, this is a gross understatement of the gravity of the issue. We have shown in our earlier statements that the over-invoicing of imports transfers out foreign exchange received as foreign borrowing and even workers’ remittances. This compounds the foreign debt crisis, leads to chronic shortages of foreign exchange to finance essential imports and a collapse of living conditions. A study based on 39 African countries illustrates that between 1970 and 2010 approximately 63% to 73% of foreign borrowing exited Africa within a five-year window as a result of capital flight through trade mis-invoicing.
Further, the IMF in its publications over the years shows that the loss of foreign reserves of Central Banks is accelerated by capital flight through trade mis-invoicing while decreasing tax revenue. It diminishes governments’ debt-servicing capacity and worsens the incidence of balance of payments crises. Capital outflows are a diversion of domestic savings out of the economy and deplete domestic resources, compelling governments to absorb more and more foreign debt to finance domestic investments, exacerbating debt unsustainability. Needless to say that these observations are clearly applicable to the course of Sri Lankan economy over the past three decades as we have emphasised repeatedly in earlier statements.
“IMF Budget” for the people, non-IMF concessions for corrupt businessmen
The Government is imposing an ‘IMF budget’ on Sri Lanka, making life unbearable to ordinary Sri Lankans, particularly working and poor people. We hope that the CBSL Governor is able to see the ground from the tall towers he occupies and observe how people are not eating any longer because they can’t afford food; have restricted even essential travel for medical and education purposes; live in the dark because electricity has become a luxury; and have children not going to school because of hunger and costs. His ‘belief’ is costing the lives of millions in Sri Lanka.
Hence, we as trade unions, civil society organisations, economists and concerned professionals ask the obvious question – Why has the Government failed to move an inch on the observations and recommendations of institutions such as the IMF on illicit financial outflows? Why is the Government burying its head in sand while their friends, the business elite, loot money out of this country and deny our country of much needed foreign exchange?
The CBSL should therefore immediately implement a coordinated mechanism integrating itself with commercial banks and the Customs Department to investigate the issue and repatriate illicitly transferred, funds starting from most recent transactions. Instead of speculating on the credibility of GFI and the extent of trade mis-invoicing which are already recognised by international organisations like the UN, World Bank, IMF and ADB, the CBSL should collaborate with GFI and UNCTAD to further clarify the findings on Sri Lanka that emerged from 2021GFI report.
In the absence of no such an initiative being even proposed by the CBSL Governor, we can only conclude that the CBSL is complying with the criminal corporate-political corruption that has driven the economy to the ground and ordinary Sri Lankans into destitution.
On behalf of: Centre for Community Empowerment, Ceylon Bank Employees’ Union, Ceylon Federation of Labour, Ceylon Teachers’ Union, Dabindu Union, Engineers’ Services Professional Association, Federation of Media Workers’ Trade Union, Institute for People Engagement and Networking, Mass Movement for Social Justice, Movement for the Defence of Democratic Rights, Movement for Land and Agricultural Reform, Movement for Plantation Peoples’ Land Rights, National Collaboration Development Foundation, National Trade Protection Council, North South Solidarity Group, Professionals’ Centre for People, Protect Union, Satahan Media, Rural Development Foundation, Social Institute for Development of Plantation Sector, Sri Lanka All Telecommunication Employees’ Union, Stand Up Workers’ Union, Suriya Shakthi Foundation Nuwara Eliya, Textiles Garments and Clothing Workers’ Union, United Fishermen’s and Fish Workers’ Congress, Upcountry Civil Society Collective, Uva
Shakthi Foundation, Young Lawyers’ Association
Sugath Kulathunga – Former Senior Advisor at International Trade Centre (WTO/UNCTAD), Former Director General of Sri Lanka Export Development Board and Former Additional Secretary to Ministry of Trade, Prof. (Dr.) M.P.S. Magamage – Former Chairman of National Livestock Development Board, Dr. Kalpa Rajapaksha – Senior Lecturer in Economics, Amali Wedagedara – Political Economist and PhD Student, Dhanusha Pathirana – Economist
AG files revision petition against acquittal of IUSF Convener Wasantha Mudalige
By: Isuru Parakrama
Colombo (LNW): The Attorney General has filed a revision petition at the Colombo High Court demanding the nullification of the order by Colombo Chief Magistrate Prasanna Alwis dropping the charges against Convener of the Inter-University Students’ Federation (IUSF) Wasantha Mudalige under the Prevention of Terrorism Act (PTA), in what he described as the Colombo Chief Magistrate being not vested with the jurisdiction to do so.
In his revision petition, the AG argues that the Colombo Chief Magistrate has dropped the charges against Mudalige, who was arrested under the PTA and detained pending his instructions, without taking the objections by the lawyers appearing for the AG’s Office into account, thereby demanding the nullification of the order to continue the trial against the suspect as before.
Several districts to meet showers or thundershowers during afternoon or night
By: Isuru Parakrama
Colombo (LNW): Showers or thundershowers may occur at a few places in Rathnapura, Kalutara, Galle and Matara districts during the afternoon or night, but mainly fair weather will prevail elsewhere over the island, the Department of Meteorology said in a statement today (13).
Marine Weather:
| Condition of Rain: |
| Showers or thundershowers will occur at a few places in the sea areas off the coast extending from Colombo to Galle in the evening or night. |
| Winds: |
| Winds will be north-easterly and wind speed will be (20-30) kmph. Wind speed may increase up to (40-45) kmph at times in the sea areas off the coast extending from Mannar to Colombo via Puttalam and in sea areas off the coast extending from Galle to Pottuvil via Hambantota. |
| State of Sea: |
| The sea areas off the coast extending from Matara to Pottuvil via Hambantota will be fairly rough at times. The other sea areas around the Island may be slight to moderate. Near shore sea areas off the coast extending from Mannar to Galle via Puttalam and Colombo may experience rough seas and surges due to increased wave period. |
President instructs officials to purchase a kilo of paddy at a guaranteed price of Rs.100
Jaffna (LNW): President Ranil Wickremesinghe instructed the government officials to take the necessary measures to purchase a kilo of paddy at a guaranteed price of Rs. 100.
The President further said that the Northern Province and Jaffna District will be developed as a province capable of supplying food to Sri Lanka.
These remarks were revealed by President Ranil Wickremesinghe this morning (12) while attending the Northern Province harvest ceremony at Paranthan in Jaffna.
The President also inquired about the problems related to paddy cultivation from the farmers of the Paranthan area and assured that immediate solutions will be provided to those problems.
President Ranil Wickremesinghe further said:
The government promptly provided the required fertilizers to the farmers. Therefore, we believe that there will be a surplus of paddy harvest in the ‘Maha Season’. Accordingly, arrangements are being made for the government to purchase a kilo of paddy at a guaranteed price of Rs. 100.
Many people are currently experiencing financial difficulties. Even if yields increase, there is a segment of the population that lacks the financial means to purchase rice. Therefore, we are implementing a program to provide 10 kilos of rice free of charge to 2 million families during March and April. Then by the Sinhala New Year season, they would have received 20 kilos of rice.
Currently, approximately 03 metric tons of paddy is received per hectare. We require a minimum of six metric tons of rice per hectare. If possible, we hope to increase it to 07 metric tons. The government is working to provide the necessary facilities to achieve that target. More methods of purchasing and storing paddy will be developed in the future. We intend to build small and medium-sized rice mills. We will be able to succeed in those activities in the next two years. We have planned to provide the necessary water facilities for this area. We are working to restore the Punarin Lake. Iranamadu Lake has now been prepared.
We are working to transform the Jaffna district and the Northern Province into a province that is capable of producing enough food to feed the country once more. In addition to this, we hope to take steps to start the production of animal feed.
Minister of Fisheries Douglas Devananda, President’s Senior Adviser on National Security and Chief of Staff Sagala Ratnayake, President’s Secretary Saman Ekanayake, former Member of Parliament Vijayakala Maheswaran, Chief of Defence Staff General Shavendra Silva, Inspector General of Police C D Wickramaratne and Northern Province Government officials participated in this event.
Following that, the President visited the Pannam Kandi field, Kilinochchi and discussed the problems of the farmers there.
A large number of local people had gathered around to see the President and the President made it a point to engage in friendly discussion with those gathered and especially focused on the children and inquired about their educational activities.
Sri Lanka Original Narrative Summary: 13/02
- Lanka Coal Company says it has secured only 12 coal shipments out of 30 scheduled for Oct’22-Apr’23 unloading season, so far: confirms that 30% part payments have been made for 13th to 17th shipments: also says 13th shipment already berthed in Puttalam while 14th is near, but balance 70% not paid yet due to lack of funds: meanwhile Central Bank says its Forex reserves have increased.
- Ceylon Chamber of Commerce asks China “to work with the IMF in order for Sri Lanka to receive its much needed funding”: says Govt has carried out an initial set of reforms and that the Chamber expects more reforms after IMF Board approval: present CCC office bearers have been vehemently demanding higher Govt taxes, IMF programme and an ISB Default.
- Central Bank settles about USD193mn (Rs.70.3bn) worth USD denominated SLDBs held by commercial banks and small-holders in Rupees through Treasury Bonds and cash: stock of SLDBs reduced to Rs 273bn from Rs.343bn.
- Health Ministry instructs Govt Hospitals to postpone non-essential & non-urgent surgeries at Govt hospitals: only “essential & urgent surgeries” to be performed.
- President Ranil Wickremesinghe instructs Govt officials to purchase paddy at a guaranteed price of Rs.100 per kg: also says the Northern Province and Jaffna District will be developed as areas capable of supplying food to Sri Lanka.
- Mahanayakes of Malwatte & Asgiriya Chapters and Diyawadana Nilame of the Dalada Maligawa Pradeep Nilanga Dela request IGP to prevent slanderous propaganda in some social media defaming the Dalada Maligawa and the Mahanayake Theras.
- Mass Media Minister Dr Bandula Gunawardena says Opposition Leader Sajith Premadasa has defamed the IMF by saying “a SJB Govt is not bound to implement any agreement with the IMF”.
- State Minister of Finance Shehan Semasinghe claims a few individuals including PUC Chairman Janaka Ratnayake are contributing to the delay in Sri Lanka obtaining the IMF Board approval for the USD 2.9 bn EFF: also says he doesn’t know their reason for doing so.
- Media Spokesman of the GMOA Dr Chamil Wijesinghe says stocks of over 140 essential drugs used for the treatment of patients have been exhausted: asserts the maintenance of health services of the entire hospital system is therefore a severe challenge.
- Dept of Motor Traffic Commissioner General Nishantha Anuruddha Weerasinghe says over 700,000 vehicles identified to be in the category and brand of vehicles with faulty airbags which have been recalled by the manufacturers, are currently in operation in Sri Lanka.