Colombo (LNW): The Sri Lankan Rupee has appreciated against the US Dollar, as revealed by the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL) today (02).
Accordingly, the buying price of the US Dollar has dropped to Rs. 309.70 and the selling price to Rs. 322.68.
Colombo (LNW): Water tariffs will be revised from August 03, announced the General Manager of the National Water Supply and Drainage Board (NWSDB).
Accordingly, a gazette notification will be issued in this regard tonight.
The revised tariffs are expected to see an increase ranging from 30 – 50 per cent.
The low income families, however, will not be affected by the revision, the General Manager assured.
Colombo (LNW): Composed of intricate and interlocking iron filigree symbols painted black, Chandraguptha Thenuwara’s ‘Covert’ Art Exhibition was held at Lionel Wendt Art Gallery Colombo from July 23 to July 31, and ‘Delusion,’ another excellent collection of monumental columns by the veteran Artist is currently being held at the Saskia Fernando Gallery in Horton Place, Colombo. from July 23 to August 23.
COVERT: A collection of intricate and interlocking iron filigree symbols painted black, lotus buds, bodies, barbed wire, thorns, stupas, lion tails, weapons, vehicles created by Thenuwara’s genius marking his annual memorial show dedicated to Black July, the anti-Tamil pogrom at the start of Sri Lanka’s civil war (1983-2009), exactly forty years ago.
DELUSION: The word “devolution” sounds like “delusion” if you pronounce it without the “vo”. The idea to develop this collection of masterpieces came up with this pun because Thenuwara enjoys playing with words to create new meanings. As said by Carl Gustav Jung in 1933, “The world powers that rule over all mankind, for good or ill, are unconscious psychic factors, and it is they that bring consciousness into being and hence create the sine qua non for the existence of any world at all.” Delusion contributes to the failures in Sri Lanka’s plate as a nation, all of which have gone unresolved due to inaction, apathy, and a lack of political will.
Photo Courtesy: Vishwanath Thenuwara
To view full photos, visit READPHOTOS
PMD: The distribution of land deeds for 15,000 families in the Mahaweli region will commence from the second week of this month as per the instructions of President Ranil Wickremesinghe, Minister of Sports and Youth Affairs and Minister of Irrigation Roshan Ranasinghe stated.
Minister Roshan Ranasinghe also mentioned that steps have been taken to provide land deeds to 20,000 families who do not possess land deeds in the Mahaweli region.
He expressed these views today (02) during a press conference themed ‘Collective Path to a Stable Country’ held at the Presidential Media Centre (PMC).
Minister Roshan Ranasinghe further commented;
On President Ranil Wickremesinghe’s instructions, 20,000 land deeds have been distributed to the citizens of the Mahaweli region under the first phase of the ‘Idam Aithiya Niwasatama’ (Land right to home) Program. Another 15,000 land deeds will be distributed starting in the second week of this month, according to plans.
Additionally, the dry weather has made it difficult to deliver water from the Walawe River. Paddy fields covering over 25,000 hectares are irrigated using water from the Walawe River. Additionally, 8000 hectares of intercrops are grown. Water supply for paddy fields is becoming a challenge in such a situation.
In this situation, the issue of maintaining a steady supply of electricity and water for farming has also come up. However, the Ministry is making an effort to safeguard crops. The Nation’s food security must also be taken into account.
The previous Cabinet meeting included a lengthy discussion on the present dry weather conditions. There, the opinion was also expressed that we should go for a program that does not cut off the electricity.
However, if ships with generators that provide electricity with the dry weather are expedited to get electricity, it is possible to solve the electricity crisis and provide water to the farmers. The Electricity Board has paid special attention in this regard as well.
PMD: President Ranil Wickremesinghe led a follow-up meeting at the Presidential Secretariat to bolster the nation’s healthcare system. He directed the formulation of a new Medical Act within six months with the aim of addressing shortcomings in the present Medical Ordinance and thereby provide better healthcare and protect citizens’ well-being. A high-level Committee, consisting of the Secretary of Health, Legal Draftsman, and President of the SLMC, was assigned to examine the provisions of the Medical Ordinance and formulate a new Medical Act with appropriate provisions.
To address immediate medical needs, an additional allocation of Rs. 30 billion was approved for medical supplies under the Provision to Ministry of Health, sufficient for the next three months.
On President Wickremesinghe’s directions to the NMRA to expedite the approval process for FDA-approved drugs and reference drugs from other countries that collaborated with the Health Ministry, the NMRA sought to obtain Cabinet approval to make the necessary amendments to the NMRA Act that will ensure faster access to critical medications.
The meeting resolved the issue of staff shortage at the NMRA. The President called for a detailed report to strengthen the role of the National Medicines Regulatory Authority (NMRA) in regulating medical products and ensuring public health safety.
Efforts to improve medicine distribution and inventory management were discussed, with the President emphasizing the need for a web-based system to provide real-time information on available medicines and their distribution among hospitals with immediate effect as discussed during the meeting two weeks ago.
A five- member committee led by Mr. A. K. Seneviratne, Deputy Secretary to the Treasury was appointed to, among other tasks; devise a simple and transparent scheme for the procurement of quality drugs and medical devices.
The Ministry of Health requested the Department of Management Services to amend the Service Minute to align nurse recruitment qualifications with current healthcare requirements. The President urged health officials to consider recruiting and training individuals with Arts and Commerce Stream qualifications as nurses.
Additionally, the President instructed the Health Ministry and NMRA to draft a proposal for establishing WHO standard benchmark level 4 to assess the quality, safety and efficacy of medical products.
The Chief of Presidential Staff and Senior Adviser on National Security to the President Mr. Sagala Ratnayake emphasized to the health officials to immediately submit a list of unusable hospital equipment and equipment or related materials or goods that will expire or be removed within two years.
The meeting concluded with a commitment to promptly implement the proposed reforms, aiming to build a robust and accessible healthcare system for all citizens.
Prime Minister Dinesh Gunawardena, Health Minister Dr. Keheliya Rambukwella, Chief of Presidential Staff and Senior Adviser on National Security to the President Mr. Sagala Ratnayake, Secretary to the President Mr. E. M. S. B. Ekanayake, Secretary to the Prime Minister Mr. Anura Dissanayaka, Secretary to the Ministry of Health Mr. S. Janaka Sri Chandraguptha, Director General of Health Services, Ministry of Health Dr. Asela Gunawardena, Health officials and Finance Ministry officials attended the meeting.
PMD: The second Coconut Triangle would be launched in the Northern Province this year consisting of the areas of Jaffna, Mannar and Mulaitvu Districts in conjunction with World Coconut Day on September 2, Minister of Plantation Industries and Minister of Industries Dr. Ramesh Pathirana stated.
He expressed these views today (02) during a press conference themed ‘One Year of Progress’ held at the Presidential Media Centre (PMC).
Additionally, according to Dr.Ramesh Pathirana, 290 million kg of tea are planned to be exported this year.
The Minister emphasized that Sri Lankan tea’s price per kilo on the international tea market is stable and that in order maintain it, Sri Lankan tea’s quality must be preserved.
Dr. Ramesh Pathirana further commented;
Due to the fertilizer problem, exports from the plantation industry decreased last year.Fertilizer crisis and bad weather affected the plantation industry greatly. A bundle of 50 kilograms of urea went up to Rs. 30,000, last year. As of today, the government has worked to bring down the price of a 50 kg bundle of urea to Rs. 9000. By the end of this year, 300 million kilos of tea are expected to be exportable under these circumstances.
The sale of tea to the global tea market through the online system has already commenced. We will export tea worth 500 million USD to Iran in place of the fuel we received. It is anticipated to revive the Iranian tea industry through this strategy.
Their capacity to obtain tea is declining as a result of the conflict situation in nations like Pakistan, Russia, Ukraine, Iran, and Iraq, which are consumers of tea in Sri Lanka. Although the price of Sri Lankan tea is consistent on the global market, the enthusiasm of the tea-consuming nations is dwindling.
Cabinet approval has now been received to provide a portion of 10 perches of land to the tea plantation workers. Accordingly, the relevant land ownership is to be given to them in the future. After that, they have been given the opportunity to get credit facilities to build the houses they need.
In the last two years, it was possible to get an income of Rs. 1 billion from the export of rubber products. Due to the ability to purchase rubber for the manufacture of gloves during the last corona pandemic, it was possible to generate a sizable export income. But the demand for rubber goods is presently declining as a result of the global economic crisis. Therefore, it has been estimated that this year’s rubber-related export revenue will be around 900 million USD.
Additionally, coconut export revenue has significantly increased in recent years. The range of goods that can be found in our coconuts has led to an increase in demand. This year, it is anticipated that exports of coconut-related goods will bring in 700 million USD.
It is anticipated that exports of goods related to coconuts would generate 2 billion USD in revenue during the next ten years. Thus, it is envisioned that Sri Lanka will develop a second coconut triangle. The Northern Province’s Jaffna, Mannar, and Mullaitivu regions will be included in this second coconut triangle. Local consumption accounts for two thirds of coconut production. One third is used for export. To increase export potential, this situation needs to be altered.
The GI certificate needed for cinnamon cultivation has finally been obtained. It is possible to generate a sizable amount of cash from exports because only Sri Lanka and Madagascar produce the greatest cinnamon in the world. As a result, a formal program is being carried out as a ministry to encourage the cinnamon cultivation.
The revival of coffee as a crop in Sri Lanka has received attention as it grows to be the most popular crop in the world. Despite the fact that Sri Lanka began cultivating coffee before tea, farmers were forced to abandon the crop due to a fungus-related illness. However, it has been proposed to increase coffee cultivation in Sri Lanka due to the substantial potential for the crop on the global market. As a result, plans have been made to begin a 1000-acre coffee plantation.
By: Isuru Parakrama
Colombo (LNW): The Central Bank of Sri Lanka (CBSL) responded to certain misinterpretations of facts currently being circulated on media relating to Indian Rupee.
In a statement, the CB clarified that the main purpose of authorising foreign currencies as designated foreign currencies is to promote trade and investment relations between Sri Lanka and other countries, but the legal tender for domestic payments and settlements will remain as Sri Lanka Rupee (LKR).
“The authorisation of Indian Rupee (INR) as a designated currency does not make it a legal tender in Sri Lanka for domestic payments/settlements, and any transaction executed between or among residents in Sri Lanka shall be in LKR, being the legal tender in Sri Lanka,” the CB emphasised.
Full statement:
The Central Bank of Sri Lanka (CBSL) wishes to clarify certain misrepresentations of facts currently circulating in the public domain on Indian Rupee (INR).
CBSL from time to time, authorises selected foreign currencies as designated foreign currencies with a view to facilitating international trade and cross-border banking transactions. Commencing May 1979, CBSL has occasionally recognised designated foreign currencies. Currently, following16 currencies have been authorised as designated foreign currencies under the provisions of the Banking Act and the Foreign Exchange Act, with the latest inclusion being the INR in August 2022.
List of designated foreign currencies
The main purpose of authorising foreign currencies as designated foreign currencies is to promote trade and investment relations between the two countries. Further, it would reduce the additional transaction costs associated with dual conversion and will support promoting trade transactions through the formal banking channel. The legal tender in Sri Lanka for domestic payments and settlements will remain as Sri Lanka Rupees (LKR).
Trade between Sri Lanka and India has grown rapidly after the Indo-Sri Lanka Free Trade Agreement which came into force in March 2000. In view of the expanding economic activities between India and Sri Lanka, particularly in promoting existing trade relations between the two countries, on several occasions CBSL has communicated to the Reserve Bank of India (RBI), the Monetary Authority of India, its willingness to authorise INR as a designated foreign currency in Sri Lanka. Accordingly, in August 2022, with the concurrence of RBI, INR was authorised by CBSL as a designated foreign currency in Sri Lanka. However, the use of INR as a designated foreign currency in Sri Lanka is subject to any restrictions imposed by RBI.
Authorising INR as a designated foreign currency would bring many advantages to Sri Lanka including the facilitation of smooth banking transactions relating to INR especially for small-scale traders, encouraging traders to use banking channels for trade transactions over informal channels, reducing additional transaction costs associated with the dual conversion of INR into USD and thereafter into LKR and vice-versa. Moreover, since India remains a large source country for tourism in Sri Lanka, authorising INR as a designated foreign currency for banking transactions would add more convenience to Indian tourists.
The authorisation of INR as a designated currency does not make INR a legal tender in Sri Lanka for domestic payments/settlements. Any transaction executed between or among residents in Sri Lanka shall be in LKR, being the legal tender in Sri Lanka.
Accordingly, CBSL requests the public not to be misled by the misrepresentation of facts circulating in the public domain on INR.
Colombo (LNW): More than 5,400 (5,450) graduates will be recruited as teachers in the teaching service as approved by the Cabinet, announced Minister of Education Susil Premjayanth.
The decision aims to address the shortage of qualified teachers and improve the quality of education in the country, and these graduates will undergo training to equip them with necessary skills for their roles as teachers.
Colombo (LNW): All inmates at the Vavuniya Prison who had not received the measles vaccines were vaccinated, announced the Epidemiology Unit, days after it was revealed that there is a measles outbreak in the prison.
The Unit added that all necessary instructions have been given to control the spread of measles within the prison.
Four inmates were diagnosed with measles and the prison is off-limit since July 25.
There are about 400 inmates in the Vavuniya Prison.
Colombo (LNW): Plans are in place to provide the first instalment of the ‘Aswesuma’ Welfare Benefit Scheme for selected beneficiaries within the first week of August, announced the Welfare Benefits Board.
The Board added that around 95 per cent of the beneficiaries bank accounts have been opened, and it will be prioritised at state banks.
These instalments will be under the value of Rs. 15,000, Rs. 8,500 and Rs. 5,000, it added.
Whilst more than 500,000 people who received allowances for the elderly, differently-abled and kidney patients are also being included to the sceheme, the Board noted.
Two million beneficiaries will receive the funds directly through bank accounts, it added.