The Cabinet of Ministers has given its consent to a proposal put forth by Ports, Shipping, and Aviation Minister Nimal Siripala de Silva for the submission of revised En-Route Navigation Facility Charges Regulations to Parliament. The Government Information Department has stated that these regulations, which pertain to aircraft flying through the Colombo Flight Information Region, were initially imposed in 1981 and have not undergone revisions during the intervening period.
In light of the policies of the International Civil Aviation Organization and current global aviation trends, the En-Route Navigation Facility Charges Regulations have been comprehensively revised. The revised regulations were officially published in Extraordinary Gazette No. 2319/64, dated 16.02.2023, under the title En-Route Navigation Facility Charges Regulations No. 01 of 2023.
A significant event occurred on October 10 at the Presidential Secretariat, where official grants from Japan to Sri Lanka were transferred through the United Nations World Food Program to support critical initiatives.
The ceremony was graced by Komura Masahiro, the Deputy Minister of Foreign Affairs of Japan, and Misukoshi Hideki, the Japanese Ambassador to Sri Lanka. Joining them were Sri Lankan officials, including President’s Senior Adviser on Economic Affairs, Dr. R.H.S. Samaratunga.
Deputy Minister Komura Masahiro expressed his delight in offering support to Sri Lanka during its recent economic crisis. He emphasized Japan’s unwavering commitment to being a reliable friend and partner to Sri Lanka.
Dr. R.H.S. Samaratunga, President’s Senior Adviser on Economic Affairs, conveyed his heartfelt gratitude to the Japanese government for their valuable assistance.
The government of Sri Lanka has been actively taking steps to alleviate the impact of economic challenges on vulnerable families. Key initiatives such as the Emergency Response Programme (ERP), School Meal Program (SMP), and National Social Security Programme have been instrumental in this endeavor.
Samaratunga also highlighted the 70-year-long diplomatic relationship between Japan and Sri Lanka, underscoring Japan’s consistent support. Under the World Food Programme, Japan has provided food items valued at $10 million.
Notably, Japanese aid under the Emergency Response Programme (ERP) has been targeted at the most economically vulnerable families, benefitting 145,000 households across Sri Lanka.
Samaratunga further noted that Japan has contributed 7,270 metric tonnes of food items to Sri Lanka. These items have been instrumental in sustaining the school meal program, benefiting 960,000 schoolchildren, which includes the provision of red lentils.
Officials from the Member States of the Indian Ocean Rim Association (IORA) gathered in Colombo for the 25th Meeting of the IORA Committee of Senior Officials, a two-day event held on October 9-10. The meeting was skillfully chaired by Aruni Wijewardane, the Foreign Secretary of Sri Lanka.
The event saw the participation of senior-level representatives from the twenty-three IORA Member States, which include Australia, Bangladesh, Comoros, France, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Maldives, Mauritius, Mozambique, Oman, Seychelles, Singapore, Sri Lanka, Somalia, South Africa, Tanzania, Thailand, the United Arab Emirates, and Yemen. Notably, this gathering also featured an Interactive Dialogue between the Senior Officials of the Member States and Dialogue Partners, including China, Egypt, Saudi Arabia, Germany, Italy, Japan, Republic of Korea, the Russian Federation, Türkiye, the United Kingdom, and the United States of America.
Foreign Secretary Aruni Wijewardane extended a warm welcome to the delegates representing the diverse IORA family and its Dialogue Partners. She also acknowledged the Kingdom of Saudi Arabia as the newest Dialogue Partner of IORA. Wijewardane expressed her gratitude to Bangladesh for its leadership of the Association over the past two years and congratulated India on its assumption of the role as the Vice Chair of the Association.
Wijewardane commended the commitment of all Member States in making IORA a vibrant and effective organization, highlighting their efforts to strengthen IORA as a platform for addressing common challenges and opportunities.
With Sri Lanka assuming leadership of IORA after two decades, Wijewardane emphasized the nation’s deep appreciation of the Indian Ocean’s importance. She reaffirmed Sri Lanka’s commitment to collaborating closely with all Member States of IORA and other partners, including the Dialogue Partners, to achieve IORA’s objectives.
The theme chosen by Sri Lanka for its chairmanship, “Strengthening Regional Architecture: Reinforcing Indian Ocean Identity,” underlined the pivotal role of the Indian Ocean in shaping the region’s identity and destiny. It also emphasized the shared heritage of IORA Member States, bound together by the waters of the Indian Ocean that have enriched their societies, cultures, and economies for centuries.
During the opening session of the Senior Officials’ Committee Meeting, remarks were also delivered by IORA Secretary General Dr. Salman Al Farisi, Paramita Tripathi, Joint Secretary (Oceania) of the External Affairs Ministry of India representing the Vice Chair of IORA, and Rear Admiral (Retd.) Khurshed Alam, Secretary of the Maritime Affairs Unit of the Ministry of Foreign Affairs of Bangladesh, representing the IORA Past Chair.
Education Minister Dr. Susil Premajayantha revealed that 4,718 principal appointments are scheduled for the beginning of November. This initiative aims to bolster the human and physical resources within the education system through the upcoming budget.
Dr. Premajayantha also outlined plans to address staff shortages in various services, with 705 vacancies to be filled in the Teacher Education Service and 405 vacancies in the Education Administration Service. The comprehensive goal is to resolve human resource deficiencies throughout the education system by January, emphasizing the need for everyone to adapt to the structural changes being implemented as part of educational transformation.
In a visionary move, the minister announced that, by 2030, all schools will offer free school lunches to students. He expressed a commitment to steadily increase allowances, including provisions for school uniforms and meals, beyond 2023, with ongoing discussions involving relevant parties, including the French government.
Despite these transformative changes, Dr. Premajayantha stressed the importance of maintaining uninterrupted educational activities for children and called for the support of all stakeholders to ensure the sustainability of the education program.
The Police Special Task Force (STF) has apprehended three suspects believed to be connected to the tragic shooting incident in Maligakanda that occurred in September, leading to the tragic death of a six-year-old girl.
In the earlier incident, the young girl and her father, who were traveling in a three-wheeler, were targeted by unidentified gunmen on a motorcycle. Sadly, the child lost her life due to her injuries, while her father is currently under medical care for severe injuries.
The Police have confirmed that three suspects wanted in connection to the shooting have been successfully apprehended by the STF in the Obeysekerapura area in Welikada during an operation conducted last evening. In addition to these arrests, the STF officers have also confiscated a vehicle with counterfeit license plates, which had allegedly been used by the suspects to transport weapons.
The apprehended suspects are residents of the Irakkamam 09 area and Rajagiriya, aged 36, 61, and 62 years. They have been handed over to the Maradana Police Station for further investigation, as authorities seek to unravel the circumstances surrounding this tragic incident.
Colombo (LNW): Japanese Parliamentary Vice-Minister of Foreign Affairs, Komura Masahiro stated that his country would continue to support Sri Lanka’s economic recovery process and lauded the government for stabilizing the economy during a short span of time and making further progress.
He has also expressed confidence that structural reforms undertaken by the government would improve the conducive atmosphere for foreign investments.
During his discussion with Prime Minister Dinesh Gunawardena at the Temple Trees on (Oct 10), the Japanese Vice-Minister said that his visit to Sri Lanka to attend the Indian Ocean Rim Association (IORA) has given him an opportunity to interact with Sri Lankan leadership regarding bilateral cooperation.
He assured fullest support to Sri Lanka at IORA, during its 2-year tenure as Chairman.
The Prime Minister, referring to the fact that Sri Lanka is situated at strategic juncture along the sea lanes of the Indian Ocean and an important partner in realizing a free and open Indo-Pacific policy, emphasized the importance of close cooperation between the two countries with common principles.
Expressing deep concern over escalation of conflict in Gaza Stripe, he said that the Covid-19 pandemic had resulted in global economic downturn and the world, especially the developing countries could not face another such disaster over a military conflict.
Furthermore, he urged the two sides involved in the conflict to cease violence immediately, the PM’s Office said in a statement.
The Prime Minister thanked the Japanese Vice-Minister for the support extended to Sri Lanka for the debt restructuring process and assured that Sri Lanka is committed to a transparent and comparable debt restructuring process.
Masahiro commended Sri Lanka’s efforts in implementing the policy making process in accordance with the agreement with the IMF, and expressed his hope that Sri Lanka will bring itself back on track for development as soon as possible.
Japan, one of Sri Lanka’s main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis.
“Japan stands by Sri Lanka in support of the debt restructuring negotiation process so that Sri Lanka can reach the final agreement with the IMF,” he said.
Japan holds around $3.5 billion of Sri Lanka’s total bilateral debt of about $10 billion, amounting to 4.4% of the island’s GDP, according to government and IMF data.
“Japan intends to play a constructive role with other creditor countries, including China and India.”
Colombo (LNW): The pharmaceutical Sector has been identified as one of the promising and emerging sectors in Sri Lanka is set to enter into the East Asian Market with Export Development Board (EDB) facilitation.
EDB will continue facilitating the pharmaceutical industry to create more avenues in the international market in order to enhance the visibility of the industry globally whilst establishing an enabling environment locally to facilitate the manufacturers.
Sri Lanka pharmaceutical Sector has been earmarked by the EDB not only as an import substitution industry but also an export oriented industry which could earn and save foreign currency.
Sri Lanka Pharmaceutical Manufacturers Association (SLPMA) has signed a Memorandum of Understanding (MOU) with Cambodia Pharmaceutical Distributor Association (CPDA).
The MOU sigining ceremony was held at the seminar programme of the 6th Phar- Med Cambodia 2 exhibition on 20th September 2023 with the coordination of EDB.
Considering the importance of strengthening the Pharmaceutical industry and increasing the sector’s contribution to the economy, EDB has organized a first-ever Sri Lanka Pharmaceutical presence at the 6th Phar- Med Cambodia 2023 held from 20th to 22nd September 2023 Phnom Penh, Cambodia.
This initiative has been launched with the help of the Sri Lanka Embassy in Thailand and Sri Lanka Embassy in Vietnam
Cambodia is a country which is spending more on healthcare with economic development. Both the government and the development partners from all over the world are committed for improving health system.
Cambodia has a potential economic gateway to the pharmaceutical market of over fifteen million consumers. Cambodia is a dynamic crossroad linking Thailand, Laos and Vietnam.
“Phar- Med 2023” Cambodia is one of the established exhibitions of the healthcare industry in Cambodia with 60+ exhibitors, showcasing the latest and fast-moving products of leading multinational and regional companies.\
These companies are dealing with pharmaceuticals, nutraceuticals , Drug Materials, Medical Devices & Equipment, Laboratory equipment and devices.
This annual exhibition provides a powerful platform to connect across the globe, market verticals including contract manufacturing opportunities, gain industry insights and technical innovations.
Sri Lanka’s business delegation to 6th Par- Med 2023 , comprised three (03) Sri Lankan pharmaceutical companies; M/s Gammainterpharm (Private) Limited, M/s Astron Limited, M/s Emergen Life Sciences (Private) Limited .
The country pavilion of Sri Lanka showcased many pharmaceutical finished formulations such as antibiotics, vitamins, nutraceuticals and respiratory care products etc. with the guidance of EDB.
The companies that participated at the 6th Phar Med Exhibition stated that this show has provided an excellent platform for Sri Lankan pharmaceutical manufacturers to initiate business contacts with various foreign distributors and to explore the new trends available in the international market.
This year, more than 2,000 visitors from pharmaceutical distributors, hospitals and retailer pharmacies have visited the exhibition. Further, more than 60 exhibitors from Germany, Vietnam, Cambodia, and Japan etc. also participated in the exhibition.
Colombo (LNW): The International Monetary Fund (IMF) says despite early signs of stabilization, a full recovery is not yet assured.
Daniel Leigh, a senior official in the International Monetary Fund’s research department said that the people of Sri Lanka have shown remarkable resilience.
“In the face of enormous challenges, Sri Lanka has made commendable progress in implementing difficult but much‑needed reforms.
And these reforms are already bearing fruit, as the economy is showing tentative signs of stabilization.
Inflation is down from a peak of about 70 percent a year ago, in September 2022, down to below 2 percent in September 2023. Gross international reserves have increased. And shortages of essentials have eased,” he said.
Daniel Leigh also said that despite early signs of the stabilization, a full recovery is not yet assured
Meanwhile Finance State Minister Shehan Semasinghe, who is in Morocco to attend the IMF-World Bank 2023 Annual Meetings, has held bilateral talks with senior officials of several global organizations.
In a meeting with Patricia Scotland, the Secretary General of the Commonwealth Secretariat, Semasinghe discussed matters of mutual interest including frameworks for debt management, anti-corruption and government performance management.
The state minister has also had a productive dialogue with Martin Raiser, the World Bank’s Vice President for the South Asia Region.
Taking to X (formerly Twitter), Semasinghe said the meeting focused on the World Bank-supported reforms carried out by Sri Lanka.
Raiser has expressed the World Bank’s fullest commitment to assisting Sri Lanka. The two sides have also discussed the enhancement of support in modernizing agricultural and Small and Medium Enterprises (SMEs) sectors, among other areas of ongoing collaboration.
On Monday (Oct. 09), Semasinghe engaged in a discussion with World Bank’s Executive Director, Parameswaran Iyer about the World Bank-supported programs for Sri Lanka.
The Sri Lankan side has expressed its gratitude for the support provided by the World Bank to the economic stability and the success of the island’s reform efforts.
Semasinghe also met with the IMD’s Executive Director, K. Subramaniam to discuss the progress of the IMF’s Extended Fund Facility (EFF) for Sri Lanka and the current economic conditions including the challenges and opportunities faced by the island’s economy.
The annual meetings of the International Monetary Fund (IMF) and the Word Bank are taking place from October 09-15 in Marrakech, Morocco, where a recent nearby earthquake in September killed more than 2,900 people.
The Boards of Governors of the IMF and World Bank Group (WBG) normally meet once a year to discuss the work of their respective institutions.
The Sri Lankan Rupee has experienced a slight depreciation against the US Dollar at commercial banks in Sri Lanka, as compared to the previous day.
At People’s Bank, the buying and selling rates for the US Dollar have risen from Rs. 315.93 to Rs. 316.18 and from Rs. 329.12 to Rs. 329.37, respectively.
According to Commercial Bank, the buying rate for the US Dollar has decreased from Rs. 317.19 to Rs. 316.71, while the selling rate has increased from Rs. 327.50 to Rs. 328.
At Sampath Bank, the buying and selling rates for the US Dollar have increased from Rs. 317 to Rs. 318 and from Rs. 327 to Rs. 328, respectively.
