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Gem traders to elevate the industry with US$315 million revenue at present

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Gem traders to elevate the industry with US$315 million revenue at present

By: Staff Writer

Colombo (LNW): The Sri Lanka Gem and Jewellery Association (SLGJA), at its 21st Annual General Meeting (AGM), stressed on industry collaboration and a resurgent export economy through sustainability to uplift the sector.

In the mean time Sri Lanka has generated US$315 million in revenue from the export of gems and jewellery so far in 2023, recording a growth rate of 34 percent.

“In the previous year, we achieved a significant income of 230 million dollars through gem exports. Notably, in the year 2023, our gem and jewellery exports have yielded a substantial revenue of 315 million,” official sources said.

The Each exported gem is meticulously assessed to ensure the inflow of foreign exchange, while, in the past, Sri Lankan gems were auctioned abroad, robbing the country of appropriate remuneration, a senior official said.

“The Central Bank’s reports confirm a remarkable 34 percent growth in export revenue for the Gems and Jewellery Authority.

Steps have also been taken to resolve exporters’ challenges, with open lines of communication for exporters accessible at all times,” Dassanayake was quoted as saying in a statement released by the President’s Media Division (PMD).

SLGJA Chairman Ajward Deen addressing the AGM asserted that the association has dedicated substantial efforts to implementing a series of strategic initiatives, with the aim of elevating and enhancing the industry.

By adhering steadfastly to ethical mining standards, the association aims to empower miners to augment gem production and explore new mines in a sustainable and responsible manner.

The long-term approach of the SLGJA is specifically designed to ensure the sustained growth of the industry, enabling it to meet the ever-increasing global demand for precious stones.

Anticipated enhancements, such as streamlined export processes and more flexible regulations pertaining to gem exports, are poised to reinvigorate the industry, reaffirming its pivotal role as a substantial contributor to our local economy, said Deen.

He went on to affirm that the SLGJA would continue in its endeavours to bring about substantial advancements in the upcoming year, with the objective of ensuring the industry’s continued robust growth.

As the foremost authority acknowledged by the Sri Lankan government in the field of gem and jewellery, the SLGJA stands as the collective voice for all facets of this industry.

From miners, manufacturers, wholesalers, retailers, exporters to lapidarists and beyond, the SLGJA is committed to tirelessly advocating for the rights and interests of the entire trade.

Sri Lanka government to declare Norochcholai, Kalpitiya as agrizones

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Sri Lanka government to declare Norochcholai, Kalpitiya as agrizones

By: Staff Writer

Colombo (LNW): The farmers of Norochcholai and Kalpitiya have submitted a proposal to the Ministry of Agriculture to designate the area as an agricultural zone.

“Vegetables and fruits needed by our country are grown in large numbers in Norochcholai and Kalpitiya. Low country vegetables as well as up country vegetables, and potatoes are also cultivated in these areas,” the agriculture ministry said in a statement.

Farmers in the area claim they do not get the concessions given by the government to the farmers who grow paddy in other parts of the country.

The minister of agriculture has instructed officials to assess the proposal and present a report on the benefits of designating the area an agricultural zone.

During an earlier era the Kalpitiya area was famous for its production of dried fish. However today, the area despite its sandy soil and arid climatic condition, is better known for its production of fruits and vegetables.

This unbelievable change is solely due to the untiring efforts of the farming community who have transformed the once arid area into a lush orchard. Around 8,000 families live in the area extending from Mampuri to Thalawila via Ethalai, Norochcholai, Kalkudah and Senapola.

Today an extent of 2,500 hectares are covered with vegetable cultivation while another 300 hectares are cultivated with a variety of fruits.

According to farmers the agricultural development in the area has led to the creation of around 30,000 job opportunities. The economic centre at Norochcholai has proved a boon to the farmers as they are able to dispose of their products at the centre.

Around 100 tons of vegetable are said to be traded on a daily basis with buyers from all over the country patronizing the centre. However farmers complain that despite their best efforts, they receive no help from the state.

As chemical fertilizers and insecticides are used abundantly in this region, the minister instructed that a soil test be conducted, and that officials inform farmers about cultivation methods that use minimal chemical fertilizers and water.

Both areas, in the Puttalam District, have unique weather conditions, with mostly dry and semi arid climate zones.

“The soil conditions in the Central Highlands, Jaffna and Kalpitiya are unlike other areas, and therefore, we need to focus on cultivating only suitable crops that can be grown in those areas, and that have high demand,” the minister said in the statement.

Ceylon Fertilizer Company and Colombo Commercial Fertilizers Ltd have agreed to provide mixed fertilizer required for cultivation at a minimum price to farmers in Kalpitiya.

US-based RM Parks to start fuel supply in Sri Lanka soon

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US-based RM Parks to start fuel supply in Sri Lanka soon

By: Staff Writer

Colombo (LNW): A U.S. based Petroleum Company is set to enter into Sri Lanka petroleum retail market soon 52 days after Chinese company Sinopec launched its operations on August 30th by forming Sinopec Fuel Oil Lanka as the local subsidiary of the Chinese company

US-based RM Parks signed an agreement with Sri Lanka on June 8 allowing it to import and sell fuel in the country, less than a month after Chinese petroleum giant Sinopec also acquired rights to enter the retail market, as the Indian Ocean nation grapples with an economic and energy crisis.

The United States-based RM Parks has deposited a required performance bond and the first shipment may arrive in Sri Lanka within the next two months, while the launching of United Petroleum Australia is facing delay, the State Power & Energy Minister D V Chanaka said.

Sri Lanka in July this year awarded retail fuel licenses to three foreign firms, namely, China’s Sinopec, United Petroleum Australia and US-based RM Parks to reduce the state-owned Ceylon Petroleum Corporation’s (CPC) pressure on finding foreign currency for the country’s whole fuel import.

“As of now, RM Park has already deposited a $1 million performance bond. They have informed us that they will deposit the $2 million license fee in the next week,” D V Chanaka said on Thursday (19).

“They need to bring the first shipment within 45 days from the day they pay the license fee.”

Sinopec is already importing fuel for $40 million monthly and if all three start operations in its full potential, the government can save up to $1.5 billion from fuel imports, he said.

The government has imposed conditions for all the three fuel retailers to use foreign currency from their mother company for imports while banning the repatriations of foreign currency from Sri Lanka.

United Petroleum Australia, the third new fuel retailer, however is facing a delay after a request in contrary to the earlier conditions.

Confirming the development Sri Lanka’s Minister of Power and Energy Kanchana Wijesekera said at that time the Cabinet had approved the awarding of licenses to Sinopec, United Petroleum, Australia and RM Parks, U.S.A, in a collaboration with Shell plc, to enter the retail market in Sri Lanka.

The three companies will each be allocated 150 dealer-operated fuel stations, currently operated by the state-owned Ceylon Petroleum Corporation, and obtain 20-year licences to import, store, distribute and sell petroleum products in Sri Lanka. A further 50 fuel stations will be established at new locations by each company, the Minister said.

The move is aimed at diversifying Sri Lanka’s retail fuel market that is currently a duopoly, with the state-owned CPC and Indian Oil Corporation subsidiary Lanka IOC, which controls a third of the market.

Veteran beautician Premasiri Hewawasam passes away

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Veteran beautician Premasiri Hewawasam passes away

Colombo (LNW): Veteran beautician Premasiri Hewawasam has passed away aged 64.

He was taken to Homagama Hospital following a sudden ailment, but was later pronounced dead.

Hewawasam significantly contributed to Sri Lanka’s beauty sector through the National Youth Service Council.

Being a pillar in the Sri Lankan beauty industry, his numerous international accolades stand testament to his impactful legacy.

Health Ministry in quagmire over emergency medicine procurement

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Health Ministry in quagmire over emergency medicine procurement

By: Staff Writer

Colombo (LNW): Sri Lanka’s health ministry has been in a quagmire following allegations of irregularities and corrupt practices in the procurement of pharmaceuticals even under the watchful eye of National Medicines Regulatory Authority (NMRA).

The NMRA has also been accused of overlooking and irregularities for controversial imports of some medicines with the connivance of corrupt officials, informed official sources said

Around 4000 emergency purchases were made by the health authorities during the period of 2019-2022and out of which 285 were corrupt deals, a parliamentary committee appointed to inquire into the medicine procurement process for state hospitals unearthed.         

A senior member of the committee said that specialty of these corrupt deals was that these purchases were made after the covid-19 period.   

It has been revealed that medicines worth Rs400 per one tablet or capsule had been purchased by paying unrealistic prices of Rs 1950-Rs4000 per each.

Millions of US dollars were spent for medicine procurements from suppliers who were given the ministry level consent although such companies had been black listed sometimes back.

As per Section 109 of National Medicines Regulatory Authority (NMRA) Act No: 5 of 2015, any medicine or medical device shall not be manufactured or imported without registering with the Authority and obtaining a license from the Authority.

However, the Authority was vested with powers to issue letters of exemption from registration only for special cases such as to save a life, to prevent the spread of infectious diseases or epidemics, at national interest and national security.

The 2021 audit report issued by the National Audit Office on NMRA, reveals how letters of exemption for registration had been issued to the State Pharmaceutical Corporation (SPC) and private institutions to import 67 medicines and 140 medical equipment with claims made that it was done due to cancellation of registration, lack of registered suppliers, etc., which do not fall under such circumstances.  

In response to the Audit findings the NMRA says that it doesn’t agree with the observation made by the National Audit.

According to NMRA, actions have been taken in terms of Section 109 of the Act, with the approval of the Ministry of Health, in special cases such as to save a life or to prevent the spread of an epidemic disease, cancellation of registration, non-availability of registered suppliers, non-importation of medicines and occurring crisis situations due to shortage of medicines in public and private sector due to the declining trend of registration.  

However the National Audit has stated that the procedure followed by the NMRA is against the conditions specified in the Act.  

Although as there is no epidemic nor emergency situation in the country at present, questions have been raised as to why the Ministry of Health is continuing with emergency purchases. Officials of the Ministry of Health allege that these purchases are done to enjoy commissions.   

amanté Marks 10th Anniversary with New ‘Vogue’ Collection

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amanté Marks 10th Anniversary with New ‘Vogue’ Collection

Colombo (LNW): This October, amanté, Sri Lanka’s premier intimate apparel brand, is celebrating its 10th anniversary of its flagship boutique at Racecourse, Colombo, and 11 years of brand presence in the country.

To initiate a month filled with promotions and festivities, the brand held an exclusive event for select guests and leading fashion influencers.

This included amanté’s athleisure ambassador, Yureni Noshika. The event showcased a fashion show, launching amanté’s new anniversary collection, ‘Vogue.’

Over the past decade, amanté has built a reputation for its stylish, sophisticated, and quality lingerie. The ‘Vogue’ collection, launched at this celebration, is designed to coincide with the upcoming festive season.

‘Vogue’ showcases 8 novel designs across a varied colour palette, adorned with elegant laces and detailing. Each piece reflects current global trends while being tailored to the South Asian female form.

The range offers various contemporary bra designs, catering to different body shapes and style preferences.

Eshara Samuel, amanté Lanka’s Head of Marketing, expressed her gratitude to loyal customers and partners, attributing the brand’s growth to their continued support.

She emphasised their journey from modest beginnings to their current success and highlighted their ambitious plans for the future.

amanté opened its first shop in 2012 at Racecourse in Colombo. Since then, it has become a firm favourite in both Sri Lanka and India for its quality women’s intimate wear.

From a limited product range initially, the brand expanded its offerings to include sleepwear, shapewear, swimwear, and, most recently, athleisure.

Currently, in its 10th year, amanté boasts four independent boutiques across Sri Lanka, with a presence in over 200 stores nationwide and further expansion plans on the horizon.

In 2021, India’s leading retailer, Reliance Retail Ventures Ltd., acquired the brand, reinforcing its commitment to crafting designs that perfectly combine comfort, fashion, and thoughtful design for the confident South Asian woman.

To mark its 10th anniversary further, amanté is offering special promotions throughout the month across all its shops and on its online store, www.amante.lk, allowing its dedicated customers to partake in the festivities.

Sri Lanka Original Narrative Summary: 22/10

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Sri Lanka Original Narrative Summary: 22/10

  1. President Ranil Wickremesinghe says both the Presidential and General Election will be held next year (2024): election analysts say the Presidential election will accordingly, have to be officially called by 15th August’24, which is in about 296 days time.
  2. UNP Deputy Leader Ruwan Wijewardene says a plan has been devised by President Ranil Wickremasinghe with utmost diligence to make SL a developed nation and “smart country” by 2048: critics however say that no such plan has been disclosed publicly to the country, so far.
  3. UK’s controversial TV news “Channel 4” declines to appear before the Presidential Commission of Inquiry on the Easter Sunday carnage over their recent broadcast: says it can’t reveal confidential sources or its “confidential journalistic material”.
  4. IMF Mission Chief Peter Breuer says the IMF is looking for a “strong budget & narrower deficit” from SL as it is presently projecting a 15% shortfall in revenue this year.
  5. Minister of Power and Energy, Kanchana Wijesekera says a system of daily fuel price revisions will be introduced from February’24, replacing the present monthly fuel price revisions.
  6. Ahead of his planned visit to the USA, NPP Leader Anura Kumara Dissanayake meets US Ambassador Julie Chung: complains about the post-ponement of the local government election, the non-holding of the provincial council election, & the “planned moves by the Govt to post-pone the presidential elections”: also informs her that the economic difficulties of the people have intensified due to the intervention of the IMF.
  7. Parliamentary media unit announces that a team of Chairpersons & Members of the Sectoral Oversight Committees will undertake a tour to the USA “to study the Committee process of the US Congress”: the tour is fully funded by USAID with “technical assistance” by the National Democratic Institute: the study programme is expected “to develop a more democratic approach to the functions of the relevant committees”: officials from the Parliament Secretariat to also participate at this “study tour”.
  8. Former Chairman of Ceylinco Consolidated & Seylan Bank, Lalith Kotalawela, 85, passes away while receiving treatment at a private hospital in Colombo.
  9. Top IPL Franchise “Mumbai Indians” recruit their greatest bowler & multi-time champion Lasith Malinga as their new bowling coach for the upcoming season, replacing Shane Bond.
  10. SL claim their first win at the ICC Cricket World Cup 2023 by beating the Netherlands by 5 wickets: Netherlands – 262 all out (49.4), Madushanka – 49/4: SL – 263/5 (48.2), Sadeera Samarawickrama – 91*, Charith Asalanka – 44.

Recruitment process for bodies under Finance Ministry to be revised

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Recruitment process for bodies under Finance Ministry to be revised

Colombo (LNW): There are plans underway for a significant overhaul of the recruitment process for institutions overseen by the Finance Ministry, Finance State Minister Ranjith Siyambalapitiya disclosed.

This decision was made during a recent Financial Advisory Committee meeting, the Minister told the press during an event in Deraniyagala area yesterday (21).

More than 66,600 dengue cases reported in Sri Lanka

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More than 66,600 dengue cases reported in Sri Lanka

Colombo (LNW): The number of Dengue infections has increased across several areas of the Western Province and in the Kandy District, announced the National Dengue Control Unit.

According to Director of the National Dengue Control Dr. Nalin Ariyaratne, most of the breeding grounds for mosquitoes are located in around schools and religious places.

As of this year, 66,652 Dengue cases have been reported in the island so far.

Misuse of migrant scheme to import 100+ electric vehicles

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Misuse of migrant scheme to import 100+ electric vehicles

Colombo (LNW): 119 electric cars valued at nearly Rs. 1.2 billion have been brought into the country by exploiting the scheme for migrant workers to import electric vehicles, said the Parliamentary Committee on Ways and Means.

Of these, a single firm imported 75 vehicles.

Actions were taken to sell their licences prior to importing the vehicles.

The committee was informed that a customs duty of Rs. 5 million would be levied for a licence valued at US $250,000.

Through this, smugglers have significantly reduced the government’s tax revenue.

Laws should be rigorously applied against those exploiting the scheme, Chairman of the Parliamentary Committee on Ways and Means MP Patali Champika Ranawaka disclosed.

He advised Sri Lankan Customs to re-evaluate the potential revenue had the customs duties been correctly applied to the relevant vehicles.

Furthermore, he suggested that the Ministry of Labour and Foreign Employment cooperate with the Ministry of Finance to ensure the appropriate use of the given licences.

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