By: Staff Writer

Colombo (LNW): Sri Lanka has posted a 74 percent increase in workers’ remittances during the first eight months of 2023, reaching nearly US$ 4 billion, compared to the corresponding period of the previous year.

Based on the most recent data released by the Central Bank, workers’ remittances in August 2023 increased to US$ 499.2 million, a substantial uptick from the US$ 325.4 million received in August 2022. However, this figure remained below the six-year average of US$ 584 million for the month of August spanning from 2015 to 2020.

For the January- August 2023 period, the cumulative remittance income stood at US$ 3, 862.7 million, compared to US$ 2, 214.8 million recorded for the equivalent period in 2022.

This translates to a substantial increase of 74.4 percent. “This isn’t just a statistic. It’s a testament to dedication, hard work, and perseverance of our Sri Lankan expatriates,” Labour and Foreign Employment Minister Manusha Nanayakkara said commenting on the latest data.

Sri Lanka has received 499 million US dollars in remittances through official channels in August 2023, up 53 percent from a year ago, data released by the central bank shows. The August number is slightly lower than 541 million US dollars in July.

Worker remittances coming through official channels fell in 2021 which could not be paid for by the banking system at the official rate as money was printed to sterilize interventions and keep a policy rate down, triggering parallel exchange rates, which were settled outside the formal banking system.

From April rates were hiked, slowing credit and the need to print money to keep rates down. Up to August 2023, Sri Lanka received 3,862.7 million US dollars from official channels, up 74 percent 2,214.5 million US dollar in 2022

“Our global workforce, spread across the world, has not only weathered the challenges brought about by the pandemic but has thrived and excelled. They have supported families, communities, and our nation’s economy through their tireless efforts,” he added.

“Let’s take a moment to appreciate their unwavering commitment and the sacrifices they make to uplift their loved ones and the country. Their remittances go beyond numbers; they are a lifeline, a beacon of hope, and a source of pride for Sri Lanka.

Together, we look forward to a brighter future, knowing that the global Sri Lankan community plays a pivotal role in our nation’s progress. As we celebrate these remarkable achievements, let’s continue to support and honour the dedication of our global workforce,” the Minister further said.

Instructions from the Committee Chair to call the National Secretariat for Persons with Disabilities and obtain their views and suggestions
 Seeking views of non-governmental organizations for persons with disabilities also suggested.

The appointment of Hon. Dullas Alahapperuma as the Chair to the Caucus were proposed by Members of Parliament Hon. (Prof.) Charitha Herath, seconded by (Hon. (Dr.) (Mrs.) Sudarshini Fernandopulle when the Caucus met for the first time. Members of Parliament Hon. Madhura Withanage, and Hon. Ajith Mannapperuma, were appointed as deputy Chairs to the Caucus, proposed and seconded by Members of Parliament Hon. Weerasumana Weerasinghe and Hon. Karunadasa Kodithuwakku.

Commenting on the future actions of the Caucus, the Chair of the Caucus instructed to call the National Secretariat for Persons with Disabilities for a discussion. The Chair mentioned that the Caucus can get an understanding of the current information and data about the persons with disabilities as well as the work plan carried out by the office.

The Chair further commented that there are many issues for people with disabilities in the areas of education, transportation, law and health. Accordingly, it was decided to invite non-governmental organizations working on behalf of disabled people and get their views and suggestions.

The Chair also recalled the need to obtain updated data on how many people with disabilities are present in the country since the last population census was conducted in 2012.

The Chair emphasized that everyone should stand up for the rights of persons with disabilities regardless of their party affiliation. Hon. Sajith Premadasa, the leader of the opposition, disclosing facts before the Caucus addressed the need to prepare a data system regarding persons with disabilities in this country. According to the said, the Gramasewa officials can begin to obtain the relevant data, the Opposition Leader said.

The members of the Caucus said that they should work with the aim of giving rights to persons with disabilities rather than pity.

Members of Parliament Hon. (Dr.) (Mrs.) Sudarshini Fernandopulle, Hon. Lalith Ellawala, Hon. (Prof.) Charitha Herath, Hon. Madhura Withanage, Hon. Jagath Kumara Sumithraarachchi, Hon. B. Y. G. Rathnasekara, Hon. Weerasumana Weerasinghe, Hon. Karunadasa Kodithuwakku, Hon. Udayana Kirindigoda, Hon. Yadamini Gunawardena, Hon. Premnath C. Dolawatte, Hon. K. P. S. Kumarasiri, Hon. Sudath Manjula, Rohini Kumari Wijerathna, Hon. Wasantha Yapabandara, were present at the Committee meeting held.

The Communication Department of Parliament of Sri Lanka had recently organized a workshop to educate young leaders about democracy and the parliamentary process at the Parliament premises.

In collaboration with the Parliament of Sri Lanka, PAFFREL organization had selected young leaders for the workshop. Secretary General of Parliament Mrs. Kushani Rohanadeera was the main resource person of this workshop which was held in both Sinhala and Tamil languages.

Addressing the program, the Secretary General of Parliament appreciated the interest of more than a hundred young leaders who came to the Parliament representing many areas of the island to gain knowledge about democracy and the parliamentary process. Explaining the role of the Parliament

further, she said that the youth community has a special responsibility in bringing correct information about the Parliament to the grassroots level. Assistant Secretary General of Parliament Mr. Hansa Abeyratne, Director-Legislative Services and Communication (Acting) Mr. Janakantha Silva and the Director- Administration Ms. G. Thacchanarani delivered presentations about the parliamentary process.

This awareness workshop for the youth community was organized by the Public Outreach Section of the Communication Department of Parliament as one more step in a series of ongoing special awareness programs in collaboration with Paffrel Organization.

The Sri Lankan Rupee has experienced a decline in value against the US Dollar at various commercial banks in Sri Lanka today, as compared to the previous day’s rates.

At Peoples Bank, the buying and selling rates for the US Dollar have risen from Rs. 313.85 to Rs. 314.72 and from Rs. 328.60 to Rs. 328.85, respectively.

Commercial Bank reports an increase in the buying rate of the US Dollar from Rs. 314.24 to Rs. 314.73, with the selling rate also rising from Rs. 325.50 to Rs. 326.

Meanwhile, Sampath Bank has seen an uptick in the buying and selling rates for the US Dollar, with rates climbing from Rs. 317 to Rs. 318 for buying and from Rs. 327 to Rs. 328 for selling. This fluctuation reflects the current dynamics of the foreign exchange market.

Sri Lanka Railways faced disruptions in its morning services today as a strike initiated by the Sri Lanka Railways Locomotive Operating Engineers’ Union resulted in the cancellation of at least 20 scheduled train services, the Sri Lanka Railways reported.

The strike, which commenced at midnight the previous day, was called by the Locomotive Operating Engineers’ Union, citing several pressing demands. Key among these demands are the long-awaited amendments to the recruitment process and promotions, issues that the union claims have been unresolved for nearly five years despite their persistent appeals for action.

State Finance Minister, Dr. Ranjith Siyambalapitiya, has officially confirmed that the inaugural review of the Extended Fund Facility (EFF) arrangement for Sri Lanka is slated to kick off on September 14. The discussions will bring together Sri Lankan officials and a team from the International Monetary Fund (IMF), who are scheduled to be in Colombo from September 14 to September 27.

Earlier, the IMF Board had given the green light to a 48-month extended arrangement under the Extended Fund Facility (EFF), providing a substantial sum of US$3 billion. This funding is designed to bolster Sri Lanka’s economic policies and reforms.

The overarching objectives of this EFF-supported program encompass the restoration of macroeconomic stability and debt sustainability, the safeguarding of financial stability, and the acceleration of structural reforms aimed at unlocking Sri Lanka’s growth potential. Importantly, all measures under this program are crafted with due consideration for the welfare of the most vulnerable segments of society and a commitment to enhancing governance.

During a recent meeting held in Avissawella, the State Minister emphasized that Sri Lanka is diligently fulfilling its obligations, not only with regard to bilateral loans but also other loan installments. Presently, the country maintains foreign reserves amounting to US$3.6 billion, underlining its financial stability and commitment to economic progress.

1. Nielsen’s most recent Business Confidence Index survey shows 62% of business-people expect the economy to “decline” in the next 12 months: 13% expect the economy to “improve”: 25% expect the economy to remain “steady”.
2. Geological Survey & Mines Bureau says a minor earthquake of 4.65 magnitude in the Richter Scale occurred in the seas about 300 km North-East of Batticaloa on 11September: further reports that there was no threat of a tsunami to the island.
3. CB data shows that tourism earnings surpassed USD 1.3bn in the first 8 months of 2023, with over 930,000 visitors to the country: reflects a 57% increase from the corresponding period of last year.
4. Combined earnings of 288 listed companies on the Colombo Stock Exchange in the quarter ending June 2023 crashes by a massive 45% to Rs.52.7bn, compared to the quarter ending March 2023 figure of Rs.95.3bn: also down by a huge 69% from the earnings for the quarter ending June 2022 of Rs.169.7bn.
5. Media baron Dilith Jayaweera appointed the Leader of the Mawbima Janatha Party: takes over from veteran politician Hemakumara Nanayakkara, who will serve in an advisory capacity with the title of Senior Leader.
6. President Ranil Wickremesinghe meets SLPP National Organizer Basil Rajapaksa: the duo discuss the importance of announcing relief measures for people in the upcoming budget: Rajapaksa reported to have asked the Govt to ensure job security for people of the state institutions earmarked to be reformed and liquidated under the IMF programme.
7. Former External Affairs Minister Professor G L Peiris says the Opposition would seek the IMF’s commitment to rein in rampant corruption within the Wickremasinghe-Rajapaksa government in spite of the country being declared bankrupt over a year ago: also says the Opposition intends to furnish transcripts of the 3 day debate on the No Confidence Motion against the Health Minister, to the IMF delegation.
8. National Peoples’ Power leader Anura Kumara Dissanayake says the only way the current leadership could remain in power is by unleasing chaos.
9. National Dengue Control Unit Director Dr Nalin Ariyaratne says around 900 cases of dengue have been reported in the first 10 days of September: warns that the current rainy weather is likely to lead to an increase in the dengue mosquito population unless steps are taken to reduce potential breeding sites.
10. Top bowlers – Hasaranga, Chameera and Madushanka named in Sri Lanka’s 15-man provisional squad for next month’s Cricket World Cup despite injury concerns: Squad: Shanaka (Capt), Nissanka, Dimuth, Kusal Mendis, Asalanka, Kusal Perera, Dhananjaya, Sadeera, Hasaranga, Wellalage, Theekshana, Chameera, Rajitha, Pathirana, & Madushanka.