By: Isuru Parakrama
Colombo (LNW): Due to active Southwest Monsoon conditions over the island, prevailing showery condition in south-western part of the island is likely to continue further, the Natural Hazards Early Warning Centre of the Department of Meteorology said in an advisory statement today (02).
Heavy showers above 100 mm are likely to occur at some places in Southern province and in in Kalutara and Ratnapura districts, the statement added.
Colombo (LNW): Public Security Minister Tiran Alles has issued a directive to conduct an in-depth investigation into the resignation of Mullaitivu District Judge T. Saravanarajah.
The Criminal Investigations Department (CID) has been tasked with this probe, including the Judge’s exit from the country.
In a letter dated September 23, 2023, to the Judicial Services Commission, Judge Saravanarajah declared his resignation from several judicial posts.
His decision to resign was based on life threats and stress, particularly relating to the controversial Kurunthur Malai case.
In June 2022, he prohibited any construction at the ancient temple, Kurunthur Malai.
After his resignation, due to threats and pressure from state authorities linked to his ruling on the Kurunthur Malai case, the Judge reportedly left Sri Lanka.
Various Sri Lankan law associations have urged an official investigation into these claims, highlighting concerns over the security of the country’s judiciary.
Colombo (LNW): The Sri Lankan Rupee (LKR) indicates fluctuation against the US Dollar today (02) in comparison to last Wednesday, revealed the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has increased to Rs. 318.27 from Rs. 318.26, and the selling price has dropped to Rs. 329.01 from Rs. 329.90.
Meanwhile, the Sri Lankan Rupee has depreciated against several other foreign currencies, but it has appreciated against Gulf currencies.
By: Staff Writer
Colombo (LNW): The Commonwealth Heads of Government Meeting (CHOGM) balance sheet in 2013 is still to be made public due to its massive scale of waste and corruption for Rajapksa regimes extravaganza, a recent financial analysis report revealed.
Accordingly the Colombo Municipality has to repay over Rs 800 million of state bank credit taken by the then mayor for. City and Road beautification programme.
This massive debt has been recorded in state bank balance sheets as non performing loans without taking any action to recover it allowing it to be written off. Normally these state banks like loan sharks are going after poor innocent debtors who are struggling to repay their credit card dues amounting to Rs,100,000-200.000.
Forty-nine luxury buses imported in view of the Commonwealth Heads of Government Meeting (CHOGM) In 2013 and later used for public transportation on the southern expressway now lie idle with Sri Lanka Transport Board (SLTB) due to lack of spare parts to repair them, a news report revealed.
It has been, denying daily revenue of Rs. 80,000-90,000 to the government coffers, the report added.
A sum of Rs 1.18 billion was spent, by the Ministry of Mass Media and Information, on publicity and media coverage, in relation to the Commonwealth Heads of Government Meeting (CHOGM) in 2013. This was revealed in official documents.
It was also revealed that a colossal sum of Rs 10 million was spent on a dinner for journalists on the eve of CHOGM in 2013.
Accordingly, the funds, allocated through Treasury grants, were spent under nine categories, which were; for the construction and maintenance of the Media Centre, publicity programmes in electronic media and, public awareness programmes.
A massive sum of money was spent to purchase office equipment, creation of the official logo and newspaper advertisements, entertainment of local and foreign journalists, including dinners, allowances for the officers of the CHOGM Project Office, allowances for officers and other expenses.
Subsequently, a breakdown of the expenditures incurred by the ministry shows that Rs 8.28 billion was spent on the construction and maintenance of the media centre while Rs 180,55 million was spent on public awareness programmes.
There was no outcome of the high level government probe into the contract awarded to the Sri Lanka National Gem and Jewellery Authority to make specially-designed distinct brooches for spouses of heads of governments attending the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka following allegations of corruption, informed sources said.
A craftsman in Buttala had been assigned the task of making these brooches with portraits of spouses of heads of governments embedded in it and the cost was to be in the region Rs. 35,000 to Rs. 49, 000, these sources revealed.
The actual cost to make 72 brooches was Rs. 2.88 million, according to the quotation given by the craftsman.
However the price quoted by the Authority for a brooch was Rs. 250,000 and the total cost to make 72 brooches was Rs.18 million.
The Authority has been accused of inflating the price of a brooch by Rs.201,000 and total cost by Rs.15.12 million and this is under investigation, the sources said.
Even after 10 years of this financial misappropriation no action has been taken against any official involved in the corrupt deal and no one knows about the plight of the top official level probe into irregular spending of Rs. 35 million allocated for Commonwealth Heads Spouses’ Programme.
By: Staff Writer
Colombo (LNW): The Public Utilities Commission of Sri Lanka (PUCSL) has opened channels for stakeholders to provide input and recommendations regarding the third electricity tariff revision slated for implementation in October 2023, as put forth by the Ceylon Electricity Board (CEB).
The move aims to provide stakeholders with an opportunity to review and offer their insights on the proposed changes. All stakeholders, including the public, are encouraged to participate in this crucial process by sharing their views and insights, contributing to the formulation of a well-informed decision that will impact the country’s electricity landscape.
PUCSL Chairman Prof. Manjula Fernando revealed that the CEB has presented two distinct proposals for the third tariff revision of the year.
In an unconventional move, the CEB has expedited its submission, bypassing the usual January cycle, aligning with a Cabinet decision, he said.
“As per the Government’s policy advice on electricity tariffs, CEB can submit proposals for the revision of electricity tariffs in January and July of the year.
The next tariff revision is also scheduled to come into effect from January next year. However, the Cabinet of Ministers has decided to move forward with the tariff revision scheduled for the month of January 2024 to this year according to the information presented by CEB on the differences in financial, electricity generation and electricity demand from the forecasted conditions.
Accordingly, no tariff revision again next January. The CEB has estimated that there will be a loss of Rs. 31 billion this year,” he said.
As per the CEB’s proposal, Prof. Fernando outlined adjustments due to unforeseen circumstances affecting power generation.
“Hydropower generation is anticipated to be limited to 3,750 GWh hours, a reduction from the expected 4,500 GWh.
The Norochcholai coal power plant is also projected to generate less power due to unexpected malfunctions. This necessitated the acquisition of emergency power, impacting the tariff revision Prof. Fernando emphasised that the CEB has presented two options for consideration.”
“One involves a 22% increase in charges as a fuel surcharge for all consumers, while the other proposes an increase of Rs. 8 per electricity unit.
The PUCSL’s role is to thoroughly scrutinise these proposals, ensuring they align with the established tariff methodology. The final decision will be reached after an exhaustive review, taking into account public comments and suggestions,” he added.
The Chairman emphasised that the decision regarding the tariff revision will be made in accordance with the provisions of the Sri Lanka Public Utilities Commission Act and the Sri Lanka Electricity Act.
By: Staff Writer
Colombo (LNW): The International Monetary Fund’s Governance Diagnostic Assessment (GDA) on Sri Lanka has proposed a “Transparency portal” at the Finance Ministry to be monitored by the Right to Information Commission.
An online transparency platform will be established to enhance transparency of debt, public procurement contracts, and tax exemptions.
The recommendation, ideally in place from March next year, should publish all procurement contracts above Rs. 1 billion along with comprehensive information in a searchable format on contract award winners.
The GDA also mandates the publication of a list of all firms receiving tax exemptions through the Board of Investment (BOI) and the Strategic Development Projects (SDP) initiative, an estimation of the value of the tax exemptions as well as a list of firms receiving tax exemptions on luxury vehicle imports.
The information proactively disclosed is recommended to be updated every six months.
The GDA also recommends that the Government shouldn’t enact future laws that will limit the reach of the RTI Commission and that relevant policies and rules concerning new anti-corruption, anti-terrorism and privacy legislation should reflect this.
The GDA acknowledges that Sri Lanka has taken important steps in establishing the right to information and creating an institutional framework for protecting those rights.
The Right to Information Commission (‘RTIC’) was created by the Right to Information Act, No. 12 of 2016 (‘RTI Act’), to hear complaints of non-compliance by public authorities of their disclosure obligations, and to recommend disciplinary actions against offending officials. It also has the power to prosecute those who commit offences defined in the RTI Act.
Given this mandate, it plays an important role in championing the right to information and fostering an (embryonic) culture of transparency among public authorities.
It builds upon the information infrastructure established by the Ministry of Media and works closely with the Ministry on outreach.
Experience to date has demonstrated the Commission’s ability to require Government agencies to disclose a wide variety of information requested by individuals.
Recently, it was involved in a landmark case adjudicated by the Court of Appeal which upheld a directive by the Commission to the Sri Lanka Parliament to release information on MPs who have submitted their Declarations of Assets.
The Court agreed with the Commission on all points and upheld that the RTI Act of Sri Lanka supersedes the 1970s Declarations of Assets and Liabilities Act of Sri Lanka.
The work of the RTIC is particularly consequential for anticorruption efforts since many of the requests for intervention come from groups that are traditionally most exposed to corruption and the abuse of public power, including women and minority groups.
The extent to which the RTI is relied upon as an effective means of seeking redress demonstrates the effectiveness of its outreach and the value associated with the information obtained based on its interventions.
By: Staff Writer
Colombo (LNW): The Board of Investment (BOI) will be launching a new program for investor retention and expansion as well as a special “100 IT/ITES Companies” initiative.
The Investment promotion agency is looking at attracting 100 technology services companies with a new product.
Further the targeted program is to get 50 existing BOI companies to reinvest, setting up industry advisory councils for the four thrust sectors for leads, policy tweaking and promotion.
It has ben planned towards digitalisation of key investor services, aggressive promotion of the destination, key account management and modernisation of existing zones to meet with international green standards
BOI Chairman Dinesh Weerakkody said the investor retention program is targeted to encourage existing investors to retain their profits and reinvest/expand their business operations within the country.
Under this initiative, existing BOI registered companies, with over 5 years in operation will be eligible to import an Electric Rechargeable Vehicle subject to the exemption of application of custom tariff up to an amount not exceeding $ 30,000, on the Cost, Insurance and Freight (CIF) value.
This facility will be eligible for investors upon fulfilling the qualifying criteria of investing an additional $ 3 million and generating a minimum of 50 employment opportunities through the expansion project.
This is an addition to the duty-free imports of Raw materials, visa concessions and prevailing Enhanced Capital Allowances under the IR Act, including fast-track approvals.
Furthermore, BOI is hoping to commence a promotion campaign to attract 100 IT/ITES Companies with the assistance of the Private Sector.
This project is to encourage existing ICT companies to expand and to attract new enterprises engaged in Information Technology (IT), Business Process Outsourcing (BPO) and Knowledge Process Outsourcing (KPO), Business Process Management (BPM), Data Analytics and AI/ML, and E-commerce set up in the country.
Under this initiative, an ICT company that invests a minimum of $250,000 and generates 50 new local employment opportunities out of which 15 employees should be technically qualified will be granted a permit for the importation of one Electric Rechargeable Vehicle subject to the exemption of the application of custom tariff up to an amount not exceeding $ 30,000, on the Cost, Insurance and Freight (CIF) value.
This will be in addition to the regular incentives offered by the BOI and under the IR Act. Deepening of the talent pool will be tied up to the campaign, Weerakkody added.
He said a new Public Private Partner initiative is expected to drive exports, create new job opportunities, technology transfer and knowledge transfer, and enhance the country’s digital infrastructure and position Sri Lanka as a competitive player in the global ICT industry.
Colombo (LNW): A special meeting will be taking place today (02) regarding the delay and cancellation of SriLankan Airlines flights.
Ports, Shipping and Aviation Minister Nimal Siripala de Silva, along with Sri Lankan Airlines management, pilots, engineers, staff, and trade union representatives is expected to attend the meeting.
The objective is to gather feedback on how to avoid future flight cancellations and delays, according to reports.
About eight flight cancellations recently taken place are primarily attributed to technical problems, the Minister revealed.
A flight to Kathmandu, Nepal, was also cancelled yesterday (01) due to technical issues.
Colombo (LNW): A new agreement is needed to secure the second tranche from the International Monetary Fund (IMF) for Sri Lanka, the Sectoral Overight Committee on Alleviating the Impact of the Economic Crisis said.
Only 38 of the 100 conditions set by the IMF are met so far, disclosed Committee Chief Gamini Waleboda.
43 conditions have not progressed at all, and the rest are only partially addressed, he added, warning that this could lead to potential delays in obtaining the second IMF funding tranche.