Showers or thundershowers will occur at several places in Northern and Eastern provinces and in Anuradhapura and Puttalam districts during the afternoon or night, and mainly fair weather will prevail most parts of the Island elsewhere, said the Department of Meteorology in a statement today (13).
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from to Puttalam to Trincomalee via Mannar, Kankasanthurai & Mullaitivu.
Winds:
Winds will be north-easterly and wind speed will be (20-30) kmph. The wind speed can increase up to 40 kmph at times in the sea area off the coast extending from Puttalam to Kankasanthurai via Mannar.
State of Sea:
The sea area off the coast extending from Puttalam to Kankasanthurai via Mannar will be moderate. Other sea areas around the island will be slight.
Sri Lanka Tourism now implements a strategic plan to double the arrivals to 1.5 million and to generate an income of over $ 5 billion highlighting the sector as a major economic driver. Tourism Minister Harin Fernando disclosed.
The tourism ministry has set an ambitious arrival target of 1.5 million tourists for next year and a 3 million arrivals target for 2024.
He also expressed confidence in achieving the 800,000 arrivals target of this year, banking on Sri Lankan diaspora who will come to visit their friends and family after two years post-COVID pandemic.
Minister Fernando said Sri Lanka is aiming to generate over 5 billion in income next year with high-end travelers who spend over $ 400 per day from the current $ 200.
He noted that the authorities along with private sector players are ramping up collective efforts to exploit all available opportunities to boost foreign exchange earnings via the tourism industry for a speedy economic revival.
The Tourism Development Authority will explore new markets such as Japan, Korea, Georgia, Australia, New Zealand and Eastern Europe countries, adding that plans are also underway to attract the many US tourists coming from India to Sri Lanka.
“It has identified 49 Tourism Zones and of that 14 have been gazetted and whilst the others will also be gazetted before the end of the year,” he said.
Sri Lanka Tourism Development Authority Chairman Priantha Fernando said a 10-year national tourism policy will be introduced in early January.
The tourism industry is off to a promising start in December with the average daily arrivals exceeding 2,300 as opposed to 1,900 in November, marking it the highest since April.
Sri Lanka has welcomed 16,169 tourists during the first week of the month, largely driven by Russian travelers, the provisional data by the Sri Lanka Tourism Development Authority (SLTDA) showed.
The first week of December arrivals has also pushed the cumulative figure to date to 644,168, boosting anticipation among the tourism industry for a good start in the winter season which continues till the end of March 2023.
The daily average arrivals have picked up by 31% to 2,310 in the first week of the month, compared to 1,776 recorded in the first week of November.
Russia emerged as the top source market, reflecting 21% or 3,404 of total arrivals during the first seven days followed by India with 18% or 2,856, the United Kingdom with 10% or 1,519, Australia with 6% or 1,016, and Australia with 4% or 683.
The arrival of the luxury cruise liner, Azamara Quest, the resumption of many new international airlines and charter flights as well as the global promotions at the ITM Paris, Indian and WTM were the key reasons for the favourable pick-up arrival figures.
Sri Lanka’s tax revenues have surged 34.8 percent percent to RS.1.28 trillion up to September 2022 amid high inflation and non-tax revenues also brought in 119 billion US dollars, up 63 percent from a year ago, finance ministry data shows.
Sri Lanka’s economy is expected to inflate to around 23.8 trillion rupees in 2022 from 16.8 trillion in 2021 as the currency depreciated and prices soared in an ‘inflationary blow off’ which is technically known as High Inflation Financial Repression (IFR).
The tax revenue increased by 34.8 percent to Rs. 1,283.4 billion mainly due to the receipts of the one-off Surcharge Tax.
The notable increase in tax revenue from income tax by 106.1 percent to Rs. 431.8 billion, VAT by 38.6 percent to Rs. 310.5 billion, Excise duty on liquor and cigarettes by 32.4 percent to Rs. 207.2 billion, and Ports and Airports Development Levy (PAL) by 18.7 percent to Rs.135.4 billion helped surge total government revenue, finance ministry mid year final report disclosed.
In the same vein, non-tax revenue increased significantly by 66.8 percent to Rs. 165.1 billion during the first nine months of 2022 reflecting the increase of sales and charges and Central Bank profit transfers.
The revenue generated from domestic consumption-based taxes increased by 38.1 percent to Rs. 401.0 billion in the first nine months of 2022, compared to Rs. 290.5 billion recorded in the same period of 2021.
This was mainly due to the increase in VAT on domestic activities by 44.7 percent to Rs. 193.8 billion.
Meanwhile, revenue from the tax on liquor increased by 32.2 percent to Rs. 124.6 billion reflecting the increase in excise duty rates on liquor introduced by the Budget 2022 and the successful implementation of the security features and security features management system with effect from January 2022.
Revenue generated from cigarettes increased by 32.6 percent to Rs. 82.6 billion in the first nine months of 2022 due to the revision of excise duty on cigarettes in November 2021.
Revenue from import-based taxes increased slightly by 3.3 percent to Rs. 425.6 billion in the first nine months of 2022, compared to Rs. 411.9 billion recorded in the same period of 2021 mainly due to the increase in import-based VAT by 29.5 percent to Rs 116.7 billion and increase in Ports and Airports Development Levy (PAL) by 18.7 percent to Rs. 135.4 billion amidst the contraction in tax collection by Customs Import Duty (CID) and Special Commodity Levy (SCL).
Revenue from CID declined considerably by 29.4 percent to Rs. 36.6 billion in the first nine months of 2022 mainly due to the import restrictions imposed by the Government as a response to the foreign exchange crisis.
Revenue collection from SCL also declined considerably by 30.5 percent to Rs. 29.2 billion in the same period of 2022 due to the downward revisions of SCL rates on selected commodities to provide a cushion for stabilizing domestic prices.
Revenue collected from Commodity Export Subsidy Scheme (CESS) Levy also fell marginally by 6.5 percent to Rs. 52.8 billion in the first nine months of 2022.
SLPP General Secretary Sagara Kariyawasam says the SLPP and UNP are ready to form an alliance.
President Ranil Wickremesinghe convenes an All Party Leaders’ Conference today to discuss the “national question and other related minority issues” with Tamil parties: Muslim leaders also expected to be present.
Senior Finance Ministry official says a top 8-member Committee is negotiating “debt restructuring” with China and India: also says the outcome so far is positive: Committee said to comprise Foreign Minister Ali Sabry, State Finance Minister Shehan Semasinghe, President’s Security Advisor Sagala Ratnayake, President’s Secretary Saman Ekanayake, President’s Economic Adviser R Samaratunga, Treasury Secretary Mahinda Siriwardena, CB Governor Nandalal Weerasinghe and former CB Governor Indrajit Coomaraswamy.
Minister of Tourism Harin Fernando says the year 2023 would be one of the best recovery years for Sri Lanka: asserts promoting Indian tourism will serve that purpose: also says Sri Lanka tourism will be promoted in all big cities in India including Kochi, Chennai and Bengaluru next year.
Peradeniya University Acting Vice Chancellor Terrance Madujith says 10 students suspected to be involved in Sunday’s mob attack on a former Vice Chancellor and his son at their residence have been suspended: suspects identified with CCTV footage and statements by security personnel.
MPs Dayasiri Jayasekara, Lakshman Kiriella, Anura Yapa, M A Sumanthiran, Ranjith Madduma Bandara and G L Pieris file 2 Petitions in the Supreme Court seeking an interim order compelling the Elections Commission to take steps to hold the Local Government election in March 2023.
Alliance Air of India to recommence weekly flights between Palaly, Sri Lanka and Chennai, India: the airline initially began international flights between the 2 cities on 11th November 2019, but suspended operations due to the Covid-19 pandemic.
Archbishop of Colombo Malcolm Cardinal Ranjith urges religious leaders to rally together to prevent the proposed “night life” activities and thereby safeguard Sri Lanka’s culture: adds the culture nurtured by Buddhism should not be destroyed by night life activities.
Police agree to pay special attention towards transgender community: Sri Lanka’s LGBTQIA+ community and high-ranking Police Officers discuss how any inconveniences can be avoided during interactions between the two parties.
Senior DIG Sanjeeva Dharmaratne instructs Police to inspect all Spas in the Kandy District and enforce the law against health centres engaged in illegal activities: order follows a media exposé that 2 large-scale brothels are operated by a senior Police officer in Kandy under the guise of a Spa.
The Embassy of Sri Lanka in Ha Noi, Viet Nam participated in the Annual International Food Festival organized by the Ministry of Foreign Affairs (MoFA) of Viet Nam, which was held on 11 December 2022 in Ha Noi. The 10th assembly of this annual event was attended by diplomatic missions and international organizations, INGOs based in Ha Noi, provincial offices of the MoFA, provincial governments, and Vietnamese food and beverage industry leaders.
Sri Lanka’s stall was one of the main attractions of the event, with authentic Sri Lankan food such as Kottu Rotti and Aappa (Hoppers)which were made with live demonstrations. Dilmah – Ceylon Tea – Viet Nam also participated in the event and served Ceylon Tea with Sri Lankan short eats. Both Vietnamese and expatriates enjoyed these delicious treats and the warm hospitality.
The food festival was attended by approximately 5000 people and comprised 131 stalls. The Sri Lankan community in Ha Noi, and other main cities and provinces of Viet Nam, actively participated in the event and generously assisted the Embassy in conducting a very successful promotional programme.
The debate whether the so called soft default was right or wrong is still being argued. Court cases have been filed. The argument put forward by those who took the decision even without the approval of parliament is very elementary.
There was no money for essentials and medicine. So we had no choice. The question is other nations like Zambia planned for their default months ahead unlike Sri Lanka. On the other hand the Finance Ministry and the Central Bank of Sri Lanka was napping. They waited until it was imminent and made a public announcement, virtually drying up all the funding lines.
That too they called it a soft default.
They are certainly right when they say the country had no money. The Foreign Minister Sabry is a good lawyer, he fought for GotabayaR on his citizenship case very successfully, that does not mean he knows how the economy must be run. It was obvious he had been advised to do so.
Nandalal Weerasinghe is key among that coterie of people. Was the IMF consulted? He had tweeted saying that defaulting was the best decision at that time and there was no other options. Only those in power would know what the options were? Did he consult the private sector before this historic decision to bankrupt the country was taken? Was parliament consulted? Did cabinet approve it? In other economies there would have been serious consultations with the captains of industry and creditors to restructure the debt. Not simply defaulting with out a plan? It is alleged that a friendly country was on the verge of concluding a funding line. Only he would know? Not the public? Even a SME knows the consequences of an unplanned default. It is no different to a sovereign default.
Ali Sabry PC
Implications
Consequence of a debt default is humongous. A country’s lack of access to the credit market is an unavoidable consequence of a default. The country will be charged a high interest rate on its loans, it will not be granted a loan at all. The defaulted country’s credit rating will suffer, preventing foreign investment in to the country. Then comes the bailouts. Those come with conditions. Lenders imposed harsh austerity terms, requiring deep budget cuts and steep tax increases. They also require an overhaul its economy by streamlining the government. We have already seen the impact on the poor. What ever is said by those who took the decision to make Sri Lanka bankrupt has limited currency. Because it was an ill conceived decision.
There should have been a plan put in place months before the default. The bankruptcy was certainly a national tragedy and will reverberate for several decades to come. This debate will certainly not go away, accountability will come to haunt those who took the decision in the future. An expert committee should be appointed to investigate this decision to prevent such decisions been taken in the future.
Convener of the Inter-University Students Federation (IUSF) Wasantha Mudalige, who was arrested under the controversial Prevention of Terrorism Act (PTA), told media that he will never bend before a knavish regime, as the student activist was being taken away by the Police for further remand custody as ordered by the Court.
Mudalige was produced before the Colombo Magistrate Court today (12) and Colombo Additional Magistrate Tharanga Mahawatta ordered that the IUSF Convener be remanded till tomorrow (13) pending instructions by the Attorney General.
Members of the IUSF and civil and political activists outside the court premises declared their support to Mudalige as the IUSF Convener was being taken out by the prison bus.
Sri Lanka proposed to set up a group of Eminent Persons with a view to helping galvanize greater political will and to create further international awareness among states on the importance of combating terrorist financing, at the recently concluded 3rd No Money For Terror (NMFT) Ministerial Conference in New Delhi.
Sri Lanka’s High Commissioner to India Milinda Moragoda, who led the delegation of Sri Lanka to the Ministerial Conference made this proposal in his statement to the Conference on Saturday (19). The 3rd No Money For Terror Ministerial Conference on Counter-Terrorism Financing was held from 18-19 November 2022 in New Delhi, hosted by the Government of India.
The Conference, which was inaugurated by the Prime Minister of India Shri Narendra Modi on Friday (18) saw the participation of delegations from ninety-three countries and multilateral organizations.
The Conference extensively discussed global trends in terrorism and terrorist financing, use of formal and informal channels of funds for terrorism, emerging technologies and terrorist financing and requisite international co-operation to address challenges in combating terrorist financing.
Delivering the country statement of Sri Lanka, High Commissioner Moragoda further stated that political will on the part of member states is the most significant component in international cooperation to address the multi-faceted challenges faced when combating terrorist financing. He said that though the objective of the Conference on “No Money for Terror,” which is to sensitize the international community to the dangers of ignoring this issue, is commendable, there should be a mechanism to provide continuity to the work of the Conference.
In this context, High Commissioner Moragoda proposed that India, as the Chair of the present Conference, take the lead in creating a group of Eminent Persons selected from among the member states with a view to helping galvanize greater political will and to create further international awareness among states on the importance of combating terrorist financing.
The 1st and 2nd No Money For Terror Ministerial Conferences were held in Paris in 2018 and in Melbourne in 2019 respectively. The 3rd NMFT Conference was built on the progressive agenda of an integrated approach with collective involvement initiated in the first two Conferences.
Three people were killed and over 21,000 have been affected by the adverse weather conditions spawned by cyclone Mandous, said the Disaster Management Centre of Sri Lanka.
According to the Centre, 19 people were injured and those affected are of 6,113 families in 16 districts. 5,639 houses in various parts of the island have been severely damaged, it added.
The damage is being assessed and those affected will be compensated, said the Deputy Director of the Disaster Management Centre Pradeep Kodippili.
The cyclone at the moment has reduced significantly but the citizens will be urged to take precautions, the Centre added.
Finance Ministry says Sri Lanka is seeking funds from India, Japan, Singapore or some other donor agency totalling USD 850 mn as “bridging finance” until the IMF facility is approved in the New Year: on 12th April, the pipeline of external inflows of USD 10,700 mn was lost upon making the default announcement.
State Finance Minister Shehan Semasinghe says the World Bank and ADB have informed their inability to further lend to Sri Lanka until debt is made “sustainable” and the macro-fiscal stability is restored: also says the two agencies are considering alternate ways to assist.
President Ranil Wickremasinghe says Sri Lanka will launch its mitigation of climate change initiatives next year: also says a Climate Change Office has been set up.
Govt to consider investing Local Govt and public funds to invest in new companies which are expected to be placed under the Ceylon Electricity Board under the new restructuring process to be adopted by the CEB.
MP Sajith Premadasa unanimously re-elected as the leader of the Samagi Jana Balawegaya at the Party’s annual conference.
State Minister of Education Aravind Kumar says all Govt & Govt approved schools which were closed due to bad weather on Friday, will reopen today.
Consignment of 91,000 MT of Murban crude oil which arrived in November begins to unload in keeping with the new procurement modality, which the Govt introduced last month to circumvent the forex shortage and the incurrence of demurrage when tankers remain offshore.
President Ranil Wickremesinghe to formulate a road-map for the Party leaders’ talks on ethnic reconciliation.
Rotary International’s President Jennifer Jones arrives in Sri Lanka on a 4-day visit.
President of the Bar Association Saliya Pieris calls on people to stop waiting for a saviour and work hard to strengthen institutions that could ensure the protection of their rights: asks people to fight bravely for their rights.
