Colombo (LNW): Sri Lanka is set to unveil a Master Plan and National Tourism Policy to attract more tourists in to the island nation while developing Sigiriya, as the country’s first sustainable tourist destination with the contribution of all relevant parties.
With arrivals surpassing the 100,000 mark in the first 26 days of March, Sri Lanka’s tourism industry has welcomed over 300,000 visitors in the first quarter, starting 2023 on a positive note.
Sri Lanka is expecting 1.55 million tourists in 2023 led by visitors from India, Chairman of Sri Lanka Tourism Development Authority Priyantha Fernando said.
“We are targeting almost 260,000 India arrivals this year,” Fernando disclosed adding that with the Chinese traffic opening up of this month there will be further increases.
“We are expecting 1.55 million tourist’s arrivals this year it is quiet promising. We ended with of 102,545 tourists in the month of January 2023.”
In this tourist promotion drive, Sigiriya, which is considered not only an important archaeological site in Sri Lanka but also a UNESCO world heritage, is a tourist destination with a high level of local and foreign tourist attractions.
The joint proposal to this effect submitted by the Tourism Minister Harin Fernando and the Buddhasashana, Cultural and Religious Affairs Minister Vidura Wickramanayake was approved by the Cabinet of Ministers at its meeting on Monday.
This is also the first time Sri Lanka’s tourism industry recorded over 100,000 tourist arrivals in three consecutive months after 2019.
Led by Russian travellers, during the first 26 days of March, a total of 105,714 tourists arrived in the country, propelling the cumulative figure to 315,898 continuing the growth momentum and boosting hopes for a good year.
The growth in the first quarter (with a few days remaining) of tourist arrival is over 10.7% compared to the same period last year, but still 55% lower than the first quarter of the benchmark year 2018.
Russia leads as the top source market, reflecting 21% or 22,038 of total arrivals during the first 26 days of March followed by India with 15% or 15,695, the United Kingdom with 8% or 8,555, Germany with 8% or 8,256, and the US with 5%, provisional data released by the Sri Lanka Tourism Development Authority yesterday noted.
“Sri Lanka’s tourism industry has made a strong comeback in 2023 after a series of major setbacks from 2019. The respect and tribute of it should go to all stakeholders of the industry for all their dynamic and steadfast commitment to overcoming the challenges. I salute their dedication and efforts,” Tourism Minister Harin Fernando disclosed.
He also said that the National Tourism Policy blueprint will also be implemented soon to set out consistent policies and standards to boost Sri Lanka’s tourism industry to its next stage of growth in 2024.
“We are excited about 2023, as plans are underway to make Sri Lanka a year-round destination,” the Minister added.
Tourism accounts for close to 5% of Sri Lanka’s economy. The industry is hopeful of achieving 1.55 million visitors and an income of $ 2.88 billion in 2023.
With Sri Lanka Tourism not opting for a global communication blitz in 2023, however, it will focus on nine key markets identified as India, Russia, China, the UK, France, Germany, the Middle East, and Nordic countries.
The MICE tourism segment is earmarked as a key segment Sri Lanka looks to explore this year to push the numbers and earnings.
Analysis opined that the continuous positive publicity at the global level was also a major factor for the boost in arrivals post-political instability just last year.
Colombo (LNW): The Sri Lankan Rupee (LKR) today (30) indicates further depreciation against the US Dollar, as revealed by exchange rates listed in a number of commercial banks in the country.
Accordingly, The People’s Bank reveals the buy rate of the US Dollar to be Rs. 316.41 and the sell rate, Rs. 339.19.
The Commercial Bank of Sri Lanka reveals the buy rate to be Rs. 316.71 and the sell rate, Rs. 335.
At Sampath Bank, the buy rate Rs. 318 and the sell rate, Rs. 333.
The US Dollar, meanwhile, is said to be sold for higher prices in the black market, according to corporate sources.
Colombo (LNW): Government is taking initial steps for formal submission of Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) which consists of 30% of the world’s GDP, trade and population to tackle cryptocurrency rackets. Regular meetings are held before and after every negotiation round with the industry associations, trade chambers and other stakeholders.
The Central Bank reiterates significant risks associated with using and investing in cryptocurrency issuing warning for the public to be vigilant on virtual currency rackets.
Considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as “crypto”, the Central Bank (CBSL) Informed the public of the significant risks associated with using and investing in cryptocurrency.
Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country.
The term ‘cryptocurrency’ refers to a digital representation of value that is implemented using cryptography and Distributed Ledger Technology (DLT) or similar technology. It is observed that crypto-trading is widely promoted by certain entities as a profitable investment.
However, recent complaints received by CBSL have shown that members of the public have incurred heavy losses on their crypto-investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.
CBSL has already highlighted, through Press Releases issued in 2018, 2021, and 2022, the significant financial, operational, legal and security related risks as well as customer protection concerns posed to users of cryptocurrency.
These risks and concerns have already materialised with the recent failures of various global institutions engaged in cryptocurrency businesses, and the collapse and loss of value of some cryptocurrencies.
The public is reminded that cryptocurrencies are unregulated investment instruments which are not recognized as an asset-class in Sri Lanka.
Further, cryptocurrencies are not considered as legal tender in Sri Lanka and have no regulatory safeguards relating to their usage in the country.
As per the Directions No. 03 of 2021 under Foreign Exchange Act, No. 12 of 2017, Electronic Fund Transfer Cards (EFTCs) such as debit cards and credit cards are not permitted to be used for payments related to cryptocurrency transactions.
Cryptocurrency operates through informal channels, and therefore, it does not contribute to the national economy and can also cause a loss of valuable foreign currency to the country.
The public is also warned of the growing number of financial scams operating with the promise of high returns based on crypto-investments.
These scams include deceiving individuals and obtaining money from them with the promise of providing a high return by investing money in cryptocurrency, as well as deceiving individuals to invest in fraudulent cryptocurrency projects. Such scams circumvent traditional regulatory and legal protection mechanisms, resulting in individuals losing their hard-earned money.
CBSL strongly advises the public to safeguard their hard-earned money and not to invest or engage in any cryptocurrency scheme offered through the Internet, other forms of media, or directly by any persons.
he public is also notified that CBSL has not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service.
CBSL also urges those who are engaged in promoting and facilitating the promotion of investing and trading in cryptocurrency to refrain from such activities, considering the wide range of risks associated with cryptocurrency and the resulting hardships to the public, including financial losses.
Colombo (LNW): Sri Lanka is pushing Chinese, Indian and Singaporean authorities to expedite the negotiations process for the Free Trade Agreements (FTA) to be signed in 2023 or early 2024 while there are many issues to be resolved in the agreements, official sources of the International Trade Office revealed.
The Government is adopting an ambitious economic reforms program to revitalize the domestic economy, the source said.
Key elements of this program are to join the regional and global supply chains and re-engagement with the global economy to enhance exports and export-oriented foreign direct investment.
In this context, the Government is currently engaged in an effort to establish comprehensive free trade agreements targeting large and emerging economies while further penetrating into the main export markets of USA and Europe.
Towards this end, Sri Lanka has already resumed negotiations with Thailand on the proposed Sri Lanka-Thailand Free Trade Agreement (STFTA) and the authorities are in the process of concluding the fourth round of negotiations today (29) after three days of negotiations in Colombo. The aim is to sign the agreement in early 2024.
In a bid to access the vast Chinese market for Sri Lankan products, especially for the potential exports to China, negotiations of China – Sri Lanka Free Trade Agreement (CSFTA) commenced several years back and six rounds of negotiations were concluded.
With the intention to resume the talks soon, both countries have shared diplomatic notes and the officials are currently engaged in discussions on arranging the seventh round of negotiations in late April, after the Sinhala and Tamil New Year celebrations.
A Cabinet nod has also been given to resume negotiations of PTA with Bangladesh, which is another emerging economy of the SAARC region. Bangladesh is predicted to upgrade to the status of a lower middle-income country by 2026 with about 37 million of middle-income earners, which provides a sizeable market.
In the context of other SAARC member countries, Sri Lanka has signed the Pakistan Sri Lanka Free Trade Agreement (PSFTA) in 2002, while the India Sri Lanka Free Trade Agreement (ISLFTA) was signed in 1998. The former entered into force in 2005 while the latter entered into force in 2000.
Further, eleven rounds of negotiations were concluded with India on the proposed Economic and Technical Cooperation Agreement (ETCA) with the intention to advance the existing FTA to a comprehensive trade and investment cooperation framework. It is expected to resume negotiations of ETCA in the first few months of 2023.
Having signed in 2018 the Singapore Sri Lanka Free Trade Agreement (SLSFTA), which is the first comprehensive agreement for Sri Lanka, entered into force in May 2018 and having commenced FTA negotiations with Thailand, as two prominent South East Asian countries, the Government is taking initial steps for formal submission of Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) which consists a 30% of the world’s GDP, trade and population.
Regular meetings are held before and after every negotiation round with the industry associations, trade chambers and other stakeholders.
Colombo (LNW): Former Speaker Karu Jayasuriya, who is an old boy of Ananda College, Colombo, has been given the once-in-a-lifetime award ‘Anandabhimani Award’ for his tremendous contribution to the establishment of ethnic peace consisting of economic, religious, cultural and political excellence.
The awarding ceremony has taken place in Ananda College, Colombo, and the award was handed over to Mr. Jayasuriya by President Ranil Wickremesinghe.
Colombo (LNW): The Professionals Trade Union Collective is set to convene for another meeting today (30), following many demands to meet with President Ranil Wickremesinghe to discuss the questionable tax policy not being met.
Representatives of 47 trade unions responding to a number of sectors, including Health, Govt Universities, Banking, and Engineering resorted to the trade union action against the government’s controversial tax policy adding the PAYE for persons earning an income of over Rs. 100,000.
Dr. Chamil Wijesinghe, Spokesperson for the Government Medical Officers’ Association (GMOA) said all union leaders will be invited to join the discussion today.
Meanwhile, the Federation of University Teachers Association (FUTA) confirmed that they will endorse other trade union actions and intensify them from April 03, 2023, if the government fails to provide any favourable solutions.
Colombo (LNW): Showers or thundershowers will occur at a few places in Western, Sabaragamuwa and Southern provinces and in Anuradhapura, Kandy and Nuwara-Eliya districts during the afternoon or night, announced the Department of Meteorology in a statement today (30).
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 thunder showers will occur at a few places in the sea areas off the coast extending from Mannar to Matara via Puttalam, Colombo and Galle during night.
Winds:
Winds will be South-easterly or variable in direction and wind speed will be (20-30) kmph.
Colombo (LNW): Considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as “crypto”, the Central Bank of Sri Lanka (CBSL) wishes to reiterate to the public of the significant risks associated with using and investing in cryptocurrency. Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country. The term ‘cryptocurrency’ refers to a digital representation of value that is implemented using cryptography and Distributed Ledger Technology (DLT) or similar technology. It is observed that crypto-trading is widely promoted by certain entities as a profitable investment. However, recent complaints received by CBSL have shown that members of the public have incurred heavy losses on their crypto-investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.
CBSL has already highlighted, through Press Releases issued in 2018, 2021, and 2022, the significant financial, operational, legal and security related risks as well as customer protection concerns posed to users of cryptocurrency. These risks and concerns have already materialised with the recent failures of various global institutions engaged in cryptocurrency businesses, and the collapse and loss of value of some cryptocurrencies. The public is reminded that cryptocurrencies are unregulated investment instruments which are not recognized as an asset-class in Sri Lanka. Further, cryptocurrencies are not considered as legal tender in Sri Lanka and have no regulatory safeguards relating to their usage in the country. As per the Directions No. 03 of 2021 under Foreign Exchange Act, No. 12 of 2017, Electronic Fund Transfer Cards (EFTCs) such as debit cards and credit cards are not permitted to be used for payments related to cryptocurrency transactions. Cryptocurrency operates through informal channels, and therefore, it does not contribute to the national economy and can also cause a loss of valuable foreign currency to the country.
The public is also warned of the growing number of financial scams operating with the promise of high returns based on crypto-investments. These scams include deceiving individuals and obtaining money from them with the promise of providing a high return by investing money in cryptocurrency, as well as deceiving individuals to invest in fraudulent cryptocurrency projects. Such scams circumvent traditional regulatory and legal protection mechanisms, resulting in individuals losing their hard-earned money.
CBSL strongly advises the public to safeguard their hard-earned money and not to invest or engage in any cryptocurrency scheme offered through the Internet, other forms of media, or directly by any persons. The public is also notified that CBSL has not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service.
CBSL also urges those who are engaged in promoting and facilitating the promotion of investing and trading in cryptocurrency to refrain from such activities, considering the wide range of risks associated with cryptocurrency and the resulting hardships to the public, including financial losses.
Colombo (LNW): President Ranil Wickremesinghe said that it is crucial for students in the country to have comprehensive knowledge of modern technology and continually update themselves with the latest advancements to prepare for the future. This will enable them to take over the country by 2048.
Additionally, the President suggested that once the economy is stabilized with the support of the IMF in four years, it would be worthwhile to evaluate whether to continue with the same old path or take a new direction that aligns with the developing world.
During the 135th Annual Prize Giving ceremony at Ananda Vidyalaya in Colombo this morning (29), President Ranil Wickremesinghe shared his thoughts. The event also included awards for students who demonstrated their talents in 2020-2021.
Upon arriving at the Vidyalaya, the President participated in religious rituals at the shrine room on the premises. He was greeted by boy scouts and received a salute from them. Additionally, he laid a floral wreath at the statue of the fallen heroes located within the Vidyalaya grounds.
Former Speaker Karu Jayasuriya was awarded the “Anandabimani Award,” a once in a life-time recognition presented to an Anandian who has demonstrated excellence in all national, religious, cultural, political, and economic aspects and has committed to promoting ethnic harmony. President Ranil Wickremesinghe conferred the award to Mr. Jayasuriya. Additionally, the President also bestowed the Fritz Kunz Memorial Trophy, which is the school’s highest honour, to W.S. Nimsith for being the “Most Outstanding Anandian” to pass out from the school.
The statement made by President Ranil Wickremesinghe is as follows:
Professor Sampath Amaratunga reminded me of the last time I attended a prize giving ceremony in this Vidyalaya. At that time, Mr. Kudaligama was acting as the principal. I have noticed that this Vidyalaya has made great progress since then. I would like to express my thanks to all those who contributed to its success.
As part of the “Nearest School – Best School” program, I was involved in providing a seven-story building to this Vidyalaya. It’s worth noting that Ananda Vidyalaya is the only school in Sri Lanka with such a tall building. Additionally, the school also received a swimming pool and a playground.
Allow me to begin today’s story with the reason behind the establishment of Ananda Vidyalaya. During the British colonization of our country, there were no schools available for our people. The only education available was being offered in English or Dutch through church-run schools. However, the temples continued to provide educational activities as well. In the same way, Tamil education was being offered in various locations throughout Jaffna.
The year 1835 marked a significant turning point for the economy of Sri Lanka, as the Colebrook Cameron Commission report was released. This report led to a shift from the feudal economy of cinnamon cultivation to a commercial economy. This new economy was built on the cultivation of tea, coffee, rubber, and coconut. Additionally, the port of Colombo was developed into a large port, facilitating trade and commerce in the region.
As a result of the economic changes of the 19th and 20th centuries, a new commercial economy emerged. This economy first took root in Sri Lanka and later spread to other countries, including Japan. Realizing the need for skilled workers in this field, it was suggested that a school be established. The school, initially named Colombo Academy, was founded near the Fort, Hulftsdorp. This school would eventually become my alma mater, Colombo Royal Vidyalaya.
During that time, as a response to the educational needs, missionary societies established schools, including St. Thomas Vidyalaya. Recognizing that the Buddhists also required modern education, Ven. Hikkaduwe Sri Sumangala Nayaka Thera, saw the need for a modern school. At that time, the only options available to Buddhists were private education and learning in the temples. Hence, he partnered with Mr. Henry Olcott to create a school that incorporated modern education within a Buddhist environment.
The reason behind starting Ananda Vidyalaya was due to the Christian environment of the missionary system, whereas the Royal Vidyalaya of Colombo had a secular environment. Ananda Vidyalaya, on the other hand, was established with a Buddhist environment. Interestingly, the first two principals of Ananda Vidyalaya were Christians who later converted to Buddhism. Ananda Vidyalaya has produced many notable alumni who have played significant roles in shaping the independent Sri Lanka.
One such notable alumnus of Ananda Vidyalaya who was recently paid tribute to is Mr. Karu Jayasuriya, who is fondly referred to as “Ananda Abhimana”. Mr. Jayasuriya has made significant contributions to his alma mater as a Speaker, a Mayor, and a Minister, and Ananda Vidyalaya can be rightfully proud of his achievements. His service to the school is a great example for current students to follow, as it highlights the importance of contributing to society in a meaningful way.
Those currently studying at Ananda Vidyalaya are indeed fortunate. As far as my knowledge goes, Ananda Vidyalaya is the first modern school in the world to have a Buddhist environment. It’s important to express gratitude to the Ven. Hikkaduwe Sri Sumangala Thera for initiating the establishment of Ananda Vidyalaya and Vidyodaya Pirivena. Now, with the education received at Ananda Vidyalaya, students are prepared to enter society and make meaningful contributions.
The principal and the teaching staff of Ananda Vidyalaya are dedicated to providing students with the necessary training to succeed in life. It’s important for students to take full advantage of the knowledge and resources provided by the school. Student leaders are also available to provide necessary support to the teaching staff, while sports leaders and presidents of student unions help to build a well-rounded school community. Additionally, the school’s alumni are a valuable resource and provide significant assistance to the school.
As students of Ananda Vidyalaya, you have the privilege of receiving a valuable education that will equip you with the necessary skills to be leaders in society. It’s important to make the most of this education and use it to contribute positively to society. The teaching staff plays a crucial role in providing you with the training needed to succeed in your future endeavours.
Once you enter society, it becomes your responsibility to lead and contribute to building a better society. While the government and parliament have a role to play in creating a conducive environment for growth and development, it’s ultimately up to individuals to contribute towards positive change. The current state of society is fraught with crises, both political and economic, and it’s imperative for the future generation to work towards rebuilding and creating a better society.
Now the economy is being stabilized with the IMF support. If we want to develop the country, we need to get support to stabilize the economy. That alone is not enough and we have to decide as to what kind of society we need after those 4 years. We should decide if we follow the same old path or a new system to go forward along with the developing world. Following independence, we implemented free education and healthcare, initiated the Mahaweli project, established free trade zones, and made significant strides in our economy. However, despite our efforts, we have not progressed as much as other nations like Bangladesh, Thailand, and Indonesia, and we now find ourselves stagnating.
To move forward, we must decide whether to continue stagnating or to follow the lead of these countries. Today, we need to rethink our approach and take bold new steps, with the youth community taking the lead. Unlike our time, the younger generation has access to advanced technologies like high-quality phones and computers, which we must leverage to our advantage.
Green energy presents a significant opportunity for growth and development across all sectors. Solar, wind, and offshore wind power are all viable options that we must capitalize on, just as we did with tea, coffee, and rubber in the past. It is crucial to act quickly to ensure that we lead the way in the global shift towards green hydrogen. Experts predict that we can produce at least 20 GW of green hydrogen, which will give us a significant surplus, unlike many other countries that struggle with self-sufficiency.
Green hydrogen has tremendous potential as a future fuel for ships, and our country is fortunate to have access to Green Ammonia. By making Trincomalee the main port for these resources, we can establish ourselves as a country with an energy surplus. This will enable us to generate carbon credits that other countries will buy, providing us with a valuable source of income that can be used to reduce our debt.
In addition, we must focus on developing our tourism industry. The Maldives is currently leading the way, but we have a unique advantage with our cultural heritage and scenic beauty. We have stunning beaches, rich Buddhist and Hindu religious sites, and a diverse upcountry culture that we have not fully leveraged. With more than a billion people living in India, our neighbouring country, even attracting just one million tourists can have a significant impact on our economy. We must make a concerted effort to capitalize on these opportunities and reap the benefits.
India is rapidly developing but faces a shortage of certain raw materials and limited space in their ports to meet their needs. To address this, we should focus on transforming the Colombo Port into a larger port by expanding the South and North Ports and exploring offshore economy opportunities. We need to embrace new technologies like artificial intelligence and automation to position ourselves as pioneers in this field.
It is up to the youth to lead this endeavour and build a better future for our country. Just as Ananda Vidyalaya took the lead in building a modern Sri Lanka in the 19th century, it is up to the youth of today to take charge and create a new country for the 21st century.
This cannot be achieved overnight, but it will take one or two decades. Those present here today will be in their fifties by then, so it is up to them to shape their own future. China aims to become a developed country within 100 years, and India has set a goal of creating a modern India by 2047. Similarly, we should set our sights on achieving similar goals and take responsibility for our country’s development. The talented youth of this school will play a crucial role in this effort, and it is up to them to take on the challenge and build a better future for Sri Lanka.
Ven Maha Sanga including Ven Ranwala Dhammarakkitha Thera and Ven Onagama Upali Thera, Former Speaker Karu Jayasuriya, Minister of Education Susil Premajayantha, SLPP Parliamentarian Dullas Alahapperuma, SJB Parliamentarian Ranjith Madduma Bandara, Senior Advisor to the President on National Security and Chief of Presidential Staff Mr Sagala Ratnayake, Education Ministry Secretary Mr M. N. Ranasinghe, UGC Chairman Prof Sampath Amarathunga, Professor Athula Kaluarachchi, Principal of Ananda Vidyalaya Mr Lal Dissanayake, Director General of the Government Information Department Mr Dinith Chinthaka Karunaratne were present at the occasion.
Colombo (LNW): The fine imposed on those engaging in various illicit activities at the Katunayake Bandaranaike International Airport (BIA) will be increased up to Rs. 100,000, revealed Ports, Naval and Aviation Minister Nimal Siripala De Silva.
Earlier, such persons were charged Rs. 25,000, and the fine will be increased accordingly, the Minister said.
He added that complaints were lodged regarding taxi drivers, transport service providers, and other officials engaging in such illicit activities at the premises.
