Kandy (LNW): Day Two of the “Study in Malaysia” consultation hosted by EDUCATION MALAYSIA GLOBAL SERVICES under the Ministry of Education in Malaysia is currently being held at the Queens Hotel Kandy.
The event is being held today (20) from 10 am to 05 pm.
The “Study in Malaysia” Education Fair is sponsored by Mr. Mueen Masakeen, owner of MWAY STUDY ABROAD.
EDUCATION MALAYSIA GLOBAL SERVICES is an organisation that takes Malaysian education to the world under the Malaysian Ministry of Education and currently 09 Malaysian higher education institutions have come to Sri Lanka. Their main objective is to spread Malaysian education in Sri Lanka and provide higher education for Sri Lankan students in Malaysia.
Colombo (LNW): Sri Lanka’s manufacturing sector has dipped in subdued performance with the textile and apparel sector struggling in lack of new orders while new businesses boosted biz activities increasing employment expectations, Central Bank announced.
The reserve money decreased compared to the previous week mainly due to the decrease in the deposits held by the commercial banks with the Central Bank.
The total outstanding market liquidity was a deficit of Rs. 62.913 bn by 18th August 2023, compared to a deficit of Rs. 145.939 bn by the end of last week.
During the six months ending June 2023, government revenue and grants increased to Rs. 1,317.1 bn compared to Rs. 919.5 bn. Total expenditure and net lending increased to Rs. .2,559.6 bn during the period from January-June 2023 compared to Rs. 1,822.1 bn recorded in the corresponding period of 2022.
The Central Bank said the dip in both production and new orders was primarily due to several factors, including a decrease in market prices.
This decline occurred despite efforts to reduce prices. Notably, manufacturers in the textile and wearing apparel sector faced challenges; as they grappled with the lack of new orders stemming from fierce competition in the global market and unfavorable demand conditions.
Alongside the decline in new orders and production, employment and stock of purchases also experienced a decrease throughout the month.
Companies were found to be primarily filling essential vacancies; leading to a reduction in overall employment numbers in July. Meanwhile, suppliers’ delivery time remained shortened compared to the previous month.
Although the immediate manufacturing outlook appears challenging, the Central Bank said the expectations for the sector over the next three months indicated a marginal improvement, taking into consideration the current economic environment.
On a contrasting note, the services sector demonstrated resilience underscoring the ongoing expansion in services activities, Central Bank claimed.
This growth was fuelled by increases in new businesses, business activities, employment, and expectations for activities. The only exception was backlogs of work, which continued to contract during the month.
Accommodation-related services, financial services, other personal services, and professional services sub-sectors saw a prominent rise in new businesses. July also witnessed consistent growth in business activities across multiple sub-sectors.
It said the surge in tourist arrivals boosted accommodation-related services, while the financial services sub-sector saw improvement due to decreasing market interest rates. Personal services and professional services sub-sectors also noted positive developments.
In a significant turn of events, the Central Bank said employment within the services sector registered an increase, marking the first upward movement in 15 months, attributed to ongoing recruitments at various companies.
While backlogs of work continued to decrease, the rate of contraction slowed down during the month.Expectations for business activities in the services sector over the next three months remained positive due to the prevailing favourable economic conditions.
Colombo (LNW): Pelwatte Dairy has begun a series of farmer training sessions that incorporates Artificial Intelligence based farming know-how.
Aimed at Pelwatte Dairy’s farmer supply chain, the sessions are expected to greatly upgrade the participants’ working knowledge similar to modern global best practices of the industry.
Chairman Ariyaseela Wickremanayake said: “Pelwatte Dairy regards its dairy farmers as a cornerstone of its operations. Thanks to our hardworking farmer network, we have built Pelwatte Dairy to be the industry leader it is today.
An important aspect of Pelwatte Dairy’s production process is the end-to-end engagement of our farmers in various stages of production. Therefore, building their capacities is a prerequisite not only for their well-being but also for Sri Lanka’s dairy sector.”
“Dairy farming has come a long way with modern technologies and digitalisation entering the industry.
Technical modernisation of the dairy sector and specifically that of cattle management, are global trends today, and integrating them into their practices is something Sri Lankan dairy farmers cannot afford to miss.
Modernisation increases profits and productivity, and reduces inefficiencies in cattle management. Identifying individual cattle by electronic tagging, monitoring their health and treating diseases more effectively, and adjusting feed levels optimally, are some of the benefits that our farmers will accrue from such modernisation efforts,” Wickremanayake added.
Initially Pelwatte will be working with 120-150 farmers in four workshops for a month. The sessions will greatly enhance their knowledge of farming best management practices.
They will learn how to use modern farming technologies and most importantly, will understand use of such high-tech as Artificial Intelligence in their training, which is a first in Sri Lanka’s dairy sector.
The modern tech know-how given to them during their training will include Transactional Cow Management which will show them on taking care of cows as they get older. Thereafter, they will receive training on profitable dairy development. This includes training on relevant accounting knowledge that will enable them to go beyond routine incomes to bigger profits.
The training sessions will also help Pelwatte Dairy to bond with farmers better while strengthening the company’s present network relations with them.
In the coming weeks, Pelwatte Dairy will begin liaising with its resource providers and the farmer network to finalise arrangements for the training sessions.
Colombo (LNW): Sri Lanka’s Fiscal Management Efficiency Project aimed to help ease these constraints by automating and modernizing tax administration and public financial management (PFM). Automation has now been reactivated as the system was not in fully operational in the recent past.
The project has not been achieved its objectives due to various technical and practical issues in aggregate fiscal planning, budget preparation, budget allocation, budget and commitment control, payment control, cash flow management, debt management, accounting, fiscal reporting, and revenue department interfacing.
On 15 April 2010, the Asian Development Bank (ADB) approved a loan of $50.0 million to the Government of Sri Lanka for the project.
A technical assistance (TA) grant of $2.0 million (TA7515) was also approved to help the project management unit (PMU) mitigate risks from insufficient capacity in relevant agencies.
The project implemented from 1 May 2010 to 31 October 2013 and the loan to be closed by 30 April 2014.
Under this project Integrated Treasury Management Information System (ITMIS) and (RAMIS) Random Access Management Information System had been installed at the finance ministry and Inland Revenue Department.
The two systems have not been functioning properly due to poor technical handling of officials and corruption and irregularities exposed by the Auditor General’s Department and media and all such exposes had fallen into deaf ears during the past few years.
The Chief of Staff of the President, Sagala Ratnayake, has instructed the relevant departments to activate the Integrated Treasury Management Information System (ITMIS) software which allows the institutions that check accounting affairs, including the Ministry of Finance, to get information about the country’s financial situation from anywhere.
Taking prompt action following revelation on the situation of in a recent media report ,the President’s Chief of Staff has instructed the relevant departments to within two months restart the ITMS project which was started for computerization of the financial activities of all government institutions including the President’s Office and suspended halfway.
Getting information while preparing the budget document will also be quick and easy with the ITMIS software.
Along with this software, another software called RAMIS (Random Access Management Information System) was obtained in 2011 for income tax purposes at the Inland Revenue Department.
Even after the operators of the system were trained, the project, which was proposed to be introduced in 2013, was also stopped in the midway.
The Committee on Ways and Means recently expressed their displeasure over the delay in fully implementing the RAMIS system, which was introduced 8 years ago but is still not fully operational.
Due to this, all the accounting activities of government institutions are being conducted using bookkeeping as before, the report said.
The President’s Chief of Staff, Sagala Ratnayake, has instructed to start implementing the software systems immediately and the training of the people for the accounting of government institutions has also started now.
By the end of September, the government has planned to do the public accounting with the ITMIS software.
Colombo (LNW): Subsequent to the exposure of the MTFE SL Group pyramid scam operated in Sri Lanka as a trading platform for forex, commodities, stocks and crypto currency, the existence of around 70 such Ponzi schemes have come to light, informed sources revealed.
Of these illegal pyramid schemes only eight have been identified by the Central Bank and warned the public to be cautioned against falling victim to such schemes that promise easy riches and quick profits through online trading of goods and virtual currencies.
The Central Bank has banned eight pyramid schemes and around 62 other pyramid schemes are operating scot-free since 2019 with the backing of powerful politicians and officials, media reports claimed
After the investigations, the Central Bank has determined that the following entities conduct and/or have conducted prohibited schemes in contravention of the provisions of the law:
These entities are Tiens Lanka Health Care (Pvt) Ltd, Best Life International (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd., Mark-Wo International (Pvt) Ltd., V M L International (Pvt) Ltd., Fast 3Cycle International (Pvt) Ltd (F3C), Sport Chain App, Sports Chain ZS Society Sri Lanka, and OnmaxDT.
These schemes, often marketed as effortless ways to make money, have been identified as illegal under Sri Lankan law.
In the recent detection of the MTFE SL Group pyramid scam, the a new twist emerged following a foreign travel ban imposed on five top officials of the group, on the orders of Colombo Chief Magistrate’s Court recently).
However, it is reported that one of the five MTFE officials had already left the country for Dubai.
The Metaverse Foreign Exchange (MTFE) Group, albeit being marked as a trading platform for forex, commodities, stocks and crypto currency, has been surrounded by controversy over its rather dubious presence.
As per the facts uncovered thus far, the Central Bank has said the operations of this trading platform fall under the pyramid schemes system, which are prohibited in Sri Lanka.
Under Sri Lankan law, running pyramid schemes can result in imprisonment between three to five years. Offenders also have to pay a fine of 2 million Sri Lankan rupees ($6,222) or twice the amount received from the participants in the scheme, whichever is higher.
Pyramid schemes operate on offers such as to make “easy money” or “online profit through trading goods/virtual currencies” to make you rich quickly without much effort.
Accordingly, the public is advised to be alert and refrain from directly or indirectly being involved in pyramid schemes which could be punishable by law.
Sri Lanka has prohibited pyramid schemes which a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.
As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
1. Reliable sources reveal that 6 out of the 11 Paediatric Cardiologists have migrated, sparking grave concerns over the management of Paediatric Cardiology services in the country: sources also reveal that the standard number of fully qualified Pediatric Cardiologists should be 20.
2. Epidemiology Unit reveals that, as of July 19, a total of 60,136 cases of Dengue have been reported so far in 2023: highest number of cases from the Colombo district of 12,886: the Unit has also identified 43 high-risk MOH areas where dengue breeding places have been found in abundance: total of 38 fatalities reported since January 2023.
3. Paddy Marketing Board states the Govt has spent Rs.13 bn on paddy purchasing last year: also says steps have been taken to convert the purchased paddy stocks into rice and distribute to 2.9 mn low-income families across the island, free of charge: laments it is facing a boycott from farmers who have refused to sell their crops to the Board.
4. Public Security Minister Tiran Alles makes a sudden observation visit to the BIA to inspect the eased security protocols initiated last week to enhance passenger convenience during peak hours: discusses the ground plan of the BIA with the Airport and Aviation Services Chairman General G A Chandrasiri.
5. Tense situation arises when a group led by TNPF leader Gajendrakumar Ponnambalam enters the Kurundi temple and conducts a Pongal Pooja; Police say the situation was brought under control.
6. Sources reveal that though Sri Lanka had received fuel from Iran in exchange for tea during the early part of last year to tide over its dollar and economic crisis, the Govt has so far failed to honour its promise to Tehran.
7. President of the Hotel Workers’ Center, Janaka Adhikari alleges that the proposed labour law amendments are inhumane: laments the Govt has provided the opportunity for hotels to hire part-time employees under the proposed labor law amendment.
8. Ranjan Marasinghe, Acting Director General of the Dept of Wildlife Conservation says the Dept is awaiting a decision from the Ministry of Wildlife and Forest Reserve to temporarily shut down the wildlife parks affected by the drought.
9. Former Sri Lanka bowler Lasith Malinga appointed as the Mumbai Indians’ bowling coach for the IPL 2024 season, replacing Shane Bond: Malinga has won 5 IPL titles with Mumbai Indians before moving on to the Rajasthan Royals on a coaching stint after retirement in 2021.
10. St. Peter’s College wins the Schools Rugby Championship, beating Isipathana College 28-17: with this victory, St. Peter’s secures their first Schools Rugby League title since 2010.
Colombo (LNW): Making yet another tragic development against the local medical sector but far worse endangering the paediatric cardiology services in Sri Lanka, six out of the eleven paediatric cardiologists have left the island, a report by Daily Mirror disclosed.
As of now, there are only five fully qualified paediatrict cardiologists available at Lady Ridgeway Children’s Hospital (LRH), Sirimavo Bandaranaike Specialised Children’s Hospital, Jaffna Teaching Hospital and Kurunegala Teaching Hospitals.
The situation appears against the standard number of qualified paediatric cardiologists in Sri Lanka being 20, leading to an increasing number of children being sent to LRH for further treatment, according to the report.
The rising number of children admitted to the LRH attributes to the shortage of specialists in the country, a senior medial official told Daily Mirror.
PMD: President Ranil Wickremesinghe announced the development of a novel approach aimed at optimizing the operations of the Local Council, Provincial Council, and Central Government sectors, all geared towards curbing financial inefficiencies. The President directed officials to devise this new mechanism, placing a distinct emphasis on the efficacy of these three entities.
Furthermore, President Wickremesinghe instructed officials to collaborate with Provincial Governors and Chief Secretaries in order to draft a comprehensive report on this matter within a month. These consultations are intended to ensure a well-rounded perspective before formulating the new approach.
These assertions were made during a recent meeting at the Presidential Secretariat, where President Wickremesinghe engaged with Provincial Governors and Chief Secretaries. The purpose of this assembly, held yesterday (17) afternoon, was to deliberate on the forthcoming administrative procedures associated with the provincial council system.
Expressing his views further, the President said;
Today, I’ve gathered all of you to engage in a discussion about the governance framework associated with the empowerment of Provincial Councils. Our focus needs to be on how to progress in this direction while also considering the administrative structure of the central government.
In certain instances, identical services are delivered by the three different tiers of administration: the Local Council, the Provincial Council, and the Central Government. Take, for instance, tasks like drain maintenance, electric pole installation, and road construction. Unfortunately, this redundancy results in significant financial wastage. If this is indeed the case, it becomes imperative to establish a fresh mechanism that centres around the coordination of these three entities.
I have recommended the formulation of a novel system within a month’s time, following consultations with the Provincial Chief Secretaries. This step is crucial since the provincial councils are presently non-operational and bereft of ministers. Consequently, you, the Provincial Governors, hold complete governing authority within the current provincial council system.
The previous year posed considerable challenges for us, an experience I believe we need not relive. As we strive to tackle the economic predicaments of the nation, our efforts must also encompass the restoration of the country’s governance structure.
Of notable significance is that grassroots services are overseen by the provincial councils, while district-level services fall under the purview of the central government. It’s essential that these undertakings progress harmoniously, without competing with each other, as we endeavour to offer these services jointly.
The food security program has now been successfully rolled out across the entire nation. As a result, we are optimistic about a bountiful harvest in the upcoming season. Despite a decrease in the prevalence of malnutrition among the population compared to last year, we mustn’t become complacent.
It’s worth noting that the Aswasuma program played a pivotal role in reducing malnutrition among the citizens of our country. The advantages stemming from the Aswasuma initiative extend beyond mere prosperity.
Given that the parliamentary session will continue until the close of the next year, it’s essential to extend the opportunity for parliamentarians to engage in local government matters. Additionally, plans are underway to establish a dedicated advisory committee that will collaborate closely with the governor.
Simultaneously, we are also addressing the powers of provincial councils as outlined in the 13th Amendment of the constitution. Notably, a special emphasis has been placed on enhancing education, professional training endeavours, and the establishment of new universities in each respective province.
To bolster the growth of the tourism industry, there are intentions to establish tourism boards at the provincial level. It’s also pertinent to mention that numerous programs aimed at incentivizing investors and entrepreneurs are anticipated to be implemented at the provincial level in the future.
Mr. Saman Ekanayake, the Secretary to the President, expressed his anticipation for the backing of the Presidential secretariat in addressing the challenges confronted by Provincial Councils in their interactions with the Central Government.
During the discourse, the provincial governors in attendance conveyed to the President the urgent requirement to promptly fill teacher vacancies within their respective provincial council jurisdictions. They noted the presence of surplus teachers in certain schools, juxtaposed with teacher shortages in others. In response, they sought the implementation of a teacher exchange program to rectify this imbalance.
Highlighting the issue of incomplete two-story buildings constructed under the “the best school is the nearest school” concept, the governors emphasized instances of building deterioration and appealed for the formulation of a suitable program to address this concern.
The governors also drew attention to stalled development projects for which allocations had been designated. Regrettably, the funds for some of these projects were still pending.
In addition to these matters, the Provincial Governors made a request to the President to facilitate opportunities for advancing the tourism industry at the provincial level.
Present at this discussion were Mr. Sagala Ratnayake, the President’s Senior Adviser on National Security and Chief of Presidential Staff; the Secretary of the Ministry of Finance; the Secretary of the Ministry of Provincial Councils and Local Government; as well as secretaries and officials from various line ministries.
Colombo (LNW): The Sri Lankan delegation led by Prime Minister Dinesh Gunawardena, who was on a four-day official tour in China, returned to the island last night (19).
