The consumers in Kandy and Galle areas can purchase eggs at Rs. 55 each from Friday (30), said Agriculture Minister Mahinda Amaraweera, following his request to the All Ceylon Egg Producers’ Association to initiate a programme to sell eggs at a fair price amidst the astronomically high prices found in the market.
Following Amaraweera’s request, the Egg Producers Association yesterday (28) implemented a programme providing eggs at Rs. 55 each centring Colmobo and Gampaha districts, a move that has been taken into motion preventing the occurrence of any artificial shortage of eggs or any price surge.
The Union revealed that they expect to sell 400,000 eggs from ten lorries at ten locations, including Borella, Maharagama, Dematagoda, Narahenpita, near the Colombo National Television Corporation, Rajagiriya, Ja-Ela, Wattala, Negombo and Ragama. Customers were not allowed to purchase more than 25 eggs at a time, it added.
Meanwhile, the Subject Minister confessed that this arrangement is not the best solution to address the problem, adding that the unscrupulous traders, however, cannot be allowed to exploit customers by selling eggs for higher prices.
The Monetary Board of the Central Bank of Sri Lanka decided to cancel the Finance Business Licence issued to Swarnamahal Financial Services PLC (SFSP), in terms of Section 37(3) of the Finance Business Act, No. 42 of 2011 (FBA) with effect from 28th December 2022.
Accordingly, SFSP is not permitted to engage in Finance Business under the FBA with effect from 28th December 2022. Further, the Director of the Department of Supervision of Non- Bank Financial Institutions of the Central Bank of Sri Lanka has decided to cancel the Certificate of Registration of SFSP as a Registered Finance Leasing Establishment under the provisions of the Finance Leasing Act, No. 56 of 2000.
In view of the contribution made by SMB Finance PLC (SMBF) (then SMB Leasing PLC) to repay the remaining deposits of SFSP, as per the directions of the “Masterplan for Consolidation of Non-Bank Financial Institutions Sector”, unclaimed deposit liability of SFSP will be transferred to SMBF along with the corresponding assets value and relevant depositor information.
Further, Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) will take necessary actions to pay compensation to the outstanding insured depositors of SFSP up to a maximum of Rs. 1,100,000/- per depositor as per the regulations of the SLDILSS in due course. Upon the transfer of unclaimed deposit to SMBF and payment of compensation through SLDILSS, the entirety of the deposit liability of SFSP will be settled.
Showers or thundershowers may occur at a few places in Sabaragamuwa province and in Galle and Matara districts during the afternoon or nigh, and mainly fair weather will prevail elsewhere over the island, said the Department of Meteorology in a statement today (29).
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:
A few showers may occur in the sea areas off the coast extending from Trincomalee to Pottuvil via Batticaloa.
Winds:
Winds will be easterly or north-easterly and wind speed will be (20-30) kmph. Wind speed may increase up to 40kmph at times in the sea areas off the coast extending from Galle to Hambantota via Matara.
State of Sea:
The sea areas off the coast extending from Galle to Hambantota via Matara will be moderate. The other sea areas around the island will be slight.
The regime that came to power in 2019 by deceptive but ‘beautiful words’ contributed to the bankruptcy of Sri Lanka, and deception towards such beautiful words always ended up in destruction, said Leader of the Opposition Sajith Premadasa, attending the occasion of donating a bus worth Rs. 05 million under the Samagi Jana Balawegaya’s ‘Sakwala’ initiative to Kurunegala Yapahuwa Vijayaba Central College, the 51st donation of its kind.
Stressing that a massive transformation in the education system should be established to bring Sri Lanka to the front, Premadasa noted that many developed nations have given priority to education.
The electricity tariffs cannot be revised on the mere basis of a Cabinet paper presented by the Subject Minister or the will of the Ceylon Electricity Board, asserted Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake, speaking to a briefing yesterday (28).
“We haven’t received such a proposal so far. We would like to tell the public, that you don’t have to panic unnecessarily. We’re engaging in a discussion with the public on how the electricity bill should be increased. In my opinion, certain parties have given wrong data to the Minister. The decision to increase electricity tariffs should be taken through the Public Utilities Commission. Neither the Ceylon Electricity Board nor the Cabinet can increase electricity tariffs, according to law. If anyone goes on saying that the units 30, 60, 90, 180 should be brought in to a common level, that’s not the procedure accepted by the world. Generally, the common procedure is that a necessary concession is provided to those consuming lower levels of electricity. Changes such as 58, 45, or 42 cannot be made on the will of certain parties. I can assure that this affairs is not carried out on the mere basis of Cabinet papers or the will of the Ceylon Electricity Board.”
Sri Lankan-born Galleon hedge fund founder Raj Rajaratnam, alleged of being the mastermind of the largest hedge-fund insider-trading deals in US history, is now in Sri Lanka and will meet some Sri Lankan politicians in the coming days, informed sources confirmed.
The reason for his visit to Sri Lanka is not known but this old Thomian’s affection for the island nation, especially the downtrodden in the North and East may bring some relief for the dollar starved country,economic analysts predicted.
He also held some considerable percentage of shares in leading business entities and two or three banks way back in 2009.
With few big companies to invest in, the Wall Street Journal said the total value of the stock market here is only around $10 billion at that time and Mr. Rajaratnam piled his money into the limited number of large, blue-chip shares.
He and his funds quickly became the biggest shareholders in many of Sri Lanka’s top companies.
Mr Rajaratnam is a Sri Lankan Tamil who immigrated to the US in 1981. He was an old boy of S. Thomas’ College Mount Lavinia.
He grew up in a respected, middle-class family in Colombo. His father was the chairman of a sewing machine company, an important post in Sri Lanka’s garment exporting industry.
H left Sri Lanka to study at a young age and after getting a college degree at the University of Sussex in the U.K. and a business degree from the Wharton School at the University of Pennsylvania, he started a career abroad.
Mr Rajaratnam had also been accused of giving more than US$3.5 million to the Tamil Rehabilitation Organization (TRO) whose assets were frozen by the US Treasury Department in Nov. 2007 because of its alleged ties to the Tiger terrorists.
Rajaratnam was also linked to the controversial US$ three million which was deposited at the Standard Chartered Bank Branch in Kirillopane without the authority of the Central Bank in 2006.
Mr. Rajaratnam was a frequent contributor to various causes, from those that promoted development in the Indian subcontinent to programs that benefited lower-income South Asian youth in the New York area.
The Wall Street Journal reported some times back that Mr. Rajaratnam was active politically. Data from the Center for Responsive Politics, a nonpartisan group that tracks political contributions, shows Mr. Rajaratnam donated $26,200 to the Democratic Party’s fund-raising arm in 2007.
He also provided $4,600 in 2007 to the campaign of Hillary Clinton, now secretary of state, and $4,600 in 2008 to the campaign of President Barack Obama.
With about 18 people working or consulting for his family-office firm “Synamon” echoes the spice most associated with his native Sri Lanka he’s trading stocks, investing in real estate, whatever catches his eye.
Whether Rajaratnam can pick himself up after such a spectacular fall is anyone’s guess. But he still has the money to try.
The year in which he was arrested, Forbes estimated he was worth $1.3 billion. He says legal fees and fines cost him $200 million.
In an unprecedented goodwill gesture and a visionary move President Ranil Wickremesinghe has offered land to Ambewela Farm to feed dairy cows.
President Wickremesinghe instructed the Nuwara Eliya District Secretary and Commissioner to provide 30 acres of abandoned land adjacent to the Ambewela Farm to them and provide the necessary facilities to develop it as grazing land to meet the food requirement of the dairy cows.
Heissued these instructions during an observation tour of United Dairies Lanka (Pvt.) Ltd, which belongs to the Ambewela Farm Group.
Wickremesinghe inspected the 30 acres of abandoned land in the vicinity of the Ambewela Farm which has been identified as suitable land for the cultivation of grass.
The President commended the systematic growth achieved by the Ambewela Farm in the dairy production industry adding that it has set an example for other dairy farms as well.
The President also advised the management to open the farm for research activities for university students in the country to gain experience in the dairy farming field.
General Manager of the Ambewela Farm Group Sarath Bandara said that the Ambewela Farm is the main centre in Sri Lanka as well as in South Asia which can boast of the highest technical application in dairy production and farming technology.
Presently, there are about 1,000 dairy cows at the Ambewela Farm. All activities such as maintaining the dairy cows, providing necessary fodder, weighing, diagnosing diseases and separating them from others are done through an automated system.
The cows are milked thrice a day and 40,000 litres of liquid milk is supplied to the market daily. Around 4,500 cows are currently being fed within the entire Ambewela Farm network.
While this institution was under the Government before the establishment of the Ambewala Group in 2001, the daily milk production stood at a mere 1,500 litres.
The Ambewela Farm system has been working for the last 15 years to create the best dairy cows for Sri Lanka. Accordingly, none of these dairy cows are imported and only a very few male animals are imported once every few years.
Additionally, around one thousand indirect jobs have been created in the process of providing fodder for the animals on this farm.
A mechanism is already in place to get the whole maize plant to the Ambewela Farm from the farmers after harvesting the crop. Accordingly, the Ambewela Farm has facilities to amass around 25,000 metric tons of maize plants annually and store them.
Energy Minister Kanchana Wijesekera says Sri Lanka is expecting companies from Japan, India, Japan and US based New Fortress Energy Co. to jointly provide a proposal to supply a liquefied natural gas terminal.
Hotels Association President M Shanthikumar says the proposed hike in electricity tariffs will kill the sector: asserts if the Govt increases the tariff once again, it is a crime.
FSP Secretary Pubudu Jayagoda claims an Indian pharmaceutical company has settled the hotel bills of Health Minister Keheliya Rambukwella during his visit to India from 21 to 24 December to inspect a pharmaceutical manufacturing factory: calls for an investigation into the matter.
Colombo Municipal Council to fine owners of “unutilised land” within the Colombo City: revenue for 2023 through this exercise estimated at Rs.12 bn.
Energy Minister Kanchana Wijesekera reiterates the 8-hour-long power cuts predicted by certain Ceylon Electricity Board trade unions will not materialise if the requested power tariff increase is granted for next year: challenges those who are opposed, to go to Courts.
Survey by University of Peradeniya shows Kelaniya Police Division recorded the highest number of crimes so far this year with 2,287: Anuradhapura, second with 2,058: Nugegoda, third with 2,018: over 1,000 crimes reported from Negombo, Kandy, Kurunegala, Mount Lavinia, Colombo, Ratnapura, Gampaha, Kuliyapitiya and Panadura.
Authorities to take steps to implement the demerit system for driving licenses: relevant Cabinet paper to be presented in January 2023.
IGP instructs Police to take legal action on attempts to forcibly seize vehicles and other assets by finance and leasing firms over unpaid loan and lease installments: stresses companies must file cases before a District Court to obtain orders to recover possession as stipulated in the Lease Financing Act.
President Ranil Wickremesinghe instructs Nuwara Eliya District Secretary and Commissioner to immediately place 30 acres of abandoned land adjacent to the Ambewela Farm under the purview of the farm and provide necessary facilities to develop it as grazing land to meet the food requirement of the dairy cows.
Senior Finance Ministry official says this is not the time to hold an election: asserts the country is facing its worst economic crisis and the State’s revenue is sufficient only for salaries, pensions and Samurdhi allowances: claims the “systematic measures” taken to solve the crisis and results would be reaped by March 2023.
President Ranil Wickremesinghe instructed the Nuwara Eliya District Secretary and Commissioner to immediately provide 30 acres of abandoned land adjacent to the Ambewela Farm to them and provide the necessary facilities to develop it as grazing land to meet the food requirement of the dairy cows.
President Ranil Wickremesinghe issued these instructions two days ago (27) during an observation tour of the United Dairies Lanka (Pvt.) Ltd, which belongs to the Ambewela Farm Group.
The President commended the systematic growth achieved by the Ambewela Farm in the dairy production industry adding that it has set an example for other dairy farms as well. The President also instructed to open this farm for research activities for university students in the country to gain experience in the dairy farming field.
General Manager of the Ambewela Farm Group Sarath Bandara said that the Ambewela Farm is the main centre in Sri Lanka as well as in South Asia which can boast of the highest technical application in dairy production and farming technology.
Presently, there are about 1,000 dairy cows at the Ambewela Farm. All activities such as maintaining the dairy cows, providing necessary fodder, weighing, diagnosing diseases and separating them from others are done through an automated system. The cows are milked thrice a day and 40,000 litres of liquid milk is supplied to the market daily.
Around 4,500 cows are currently being fed within the entire Ambewela Farm network. While this institution was under the government before the establishment of the Ambewala Group in 2001, the daily milk production stood at a mere 1,500 litres.
The Ambewela Farm system has been working for the last 15 years to create the best dairy cows for Sri Lanka. Accordingly, none of these dairy cows is imported and only a very few male animals are imported once every few years.
Additionally, around one thousand indirect jobs have been created in the process of providing fodder for the animals on this farm. A mechanism is already in place to get the whole maize plant to the Ambewela Farm from the farmers after harvesting the crop. Accordingly, the Ambewela Farm has facilities to amass around 25,000 metric tons of maize plants annually and store them.
President Ranil Wickremesinghe also inspected the 30 acres of abandoned land in the vicinity of the Ambewela Farm which has been identified as suitable land for the cultivation of grass.
