Colombo (LNW): The Samagi Jana Balawegaya (SJB) warned that the Sri Lankan Rupee despite its rapid growth in the present will be subject to depreciation soon after the debt repayment resumes and import restrictions are relaxed.
Speaking to reporters in Hanwella yesterday (10), SJB National Organiser Tissa Attanayake said the current economic stability is only temporary due to the imposition of import restrictions and the suspension of foreign debt repayments.
Attanayake comments tally with many analysts’ warning that the recent appreciation of the Sri Lankan Rupee being ‘artificial’ is a result of the burrowings amounting to US $ 500 million at an interest of 25 per cent from various external parties.
Over the first half of 2023, the Sri Lankan Rupee has appreciated by about Rs. 70 against the US Dollar, under what analysts describe as ‘hot money’ inflows.
The SJB National Organiser emphasised that he does not believe that the country’s current situation is stable, adding that the Sri Lankan Rupee is very likely to depreciate again, once the debt repayment resumes and import restrictions are relaxed.
Colombo (LNW): Seventy per cent of farmers have already received their fertiliser subsidy coupons, announced the Agriculture Ministry in a statement today (11).
Subject Minister Mahinda Amaraweera said efforts are underway to ensure that all remaining coupons are distributed to farmers by the end of next week.
The government has instructed fertiliser companies to promptly distribute fertiliser stocks to Agrarian Development Centres. This instruction comes in as a ship carrying 22,500 metric tonnes of urea arrived in the island yesterday (10), and these stocks are said to be distributed from Monday (12).
Colombo (LNW): Sri Lanka’s key state owned enterprises (SOEs) will be turned into efficient, productive and profitable ventures under several different strategic reforms prescribed by the International Monetary Fund (IMF)
The government has set up the State-Owned Enterprise Restructuring Unit (SRU) under the Ministry of Finance to divest an identified set of SOEs.
The SRU seeks to appoint reputed, qualified and experienced firms to provide transaction advisory services for the divestiture of Sri Lankan Airlines (SLA), Sri Lanka Telecom, Sri Lanka Insurance Corporation and Canwill Holdings Pvt. Ltd (Grand Hyatt Colombo).
Among the other enterprises are Hotel Developers Lanka Ltd (Hilton Colombo), Litro Gas Lanka Ltd and Lanka Hospitals Corporation.
In addition, as part of its IMF commitments, Sri Lanka is planning a comprehensive strategy to restructure the balance sheets of some key SOEs, notably Ceylon Petroleum Corporation, Ceylon Electricity Board, Road Development Authority and SLA (this strategy needs to receive cabinet approval by June 2023).
These restructured entities are to be operated on a competitive basis, where the Government has no involvement in business with professionals running it, raising the revenue and making profits similar to a private company.
The work principles are set right from the beginning to be competitive, a senior official of the State Ministry of Finance disclosed.
Under this set-up there is privatization – as in a partial or full sale of assets but it is not the only option for SOEs reform, he pointed out.
For instance, there are other options like the vesting of performance and management in private sector contracts, Public-Private Partnerships (PPPs), holding companies, listing on the stock market, Employee Stock Ownership Plans (ESOPs), etc.
Prompt publication of audited financial statements will be made for all 52 major SOEs while prohibiting new foreign exchange borrowing by non-financial SOEs which have foreign currency debt amounting to US$45.5 billion with limited foreign exchange revenues.
Some of these enterprises owned by the government will be transformed into limited liability companies or joint-stock firms by the end of the year as part of reforms aimed at overhauling their unwieldy structures.
The government will take into account successful results from the privatization of several state entities during the periods of late 1980s to around 2004 for its present SOEs reforms.
At least 43 commercial entities were privatized during 1995 to 2004 resulting in the privatization of larger, more complex sectors such as telecommunications, gas and airlines.
1. State Minister of Finance Ranjith Siyambalapitiya says the Govt expects to allow vehicle imports with the payment of customs duties in forex: this proposal was originally mooted by former CB Governor Ajith Nivard Cabraal in September 2021, but was not implemented by the Govt of President Gotabaya Rajapaksa.
2. All Ceylon Health Trade Union Federation General Secretary Dr. Jayantha Bandara alleges that the Govt only bears 40% of the total health costs with the private sector accounting for 60%: also says there are crippling medicine shortages in state-run hospitals and no equipment or materials for testing.
3. The Tamil National Alliance informs President Wickremesinghe that if the current Govt fails to provide a solution to the ethnic question within a certain period, it will take steps to find a solution under the international law of self-determination: alleges the Govt has deceived the Tamil people again.
4. President’s Advisor Ruwan Wijewardene says former Minister and son of the visionary leader Gamini Dissanayake, Navin Dissanayake will be appointed as the Governor of the Sabaragamuwa Province on June 13th.
5. SJB MP Harsha Silva warns the crisis faced by the Micro, Small & Medium Enterprise (MSME) sector is worsening: calls for urgent measures to ease their plight: analysts point out that it was MP Harsha Silva who fiercely advocated exchange rate float, debt restructuring, increased interest rates and higher taxes, that has led to current plight of the MSMEs.
6. Court of Appeal Judge Justice Sobhitha Rajakaruna appointed Acting President of the Court of Appeal by President Ranil Wickremasinghe.
7. Police Spokesperson SSP Nihal Thalduwa says the Katunayake situated “Miracle Dome” built by Pastor Jerome Fernando is not closed for the public, but under police security due to the risk of clashes that might break out between people.
8. Poultry producers say a kg of chicken meat can be brought down to Rs.1,200 within 3 months: presently a kg of chicken is being sold at around Rs.1,300.
9. Vavuniya High Court Judge M. Illancheliyan hands down the death sentence to former Vavuniya PLOTE leader Sivanadan Premanath, alias Nedumaran, after finding him guilty of murder of Vavuniya General Hospital Gynaecologist Dr. Mohammad Sulthan Meera Mohideen in 2000.
10. Athletics and Sports Ministry officials warmly welcome the Athletes who took part at the Asian Junior Athletic championship in South Korea, at the Katunayake Airport, for winning 2 gold, 1 silver & 2 bronze medals at this meet while they finished 7th among 45 countries.
The Embassy and Permanent Mission of Sri Lanka together with Aitken Spence Travels promoted Sri Lanka as a unique tourist destination to 20 leading tours operators in Austria at the Embassy on 6 June 2023.
Delivering the welcome remarks, Ambassador and Permanent Representative of Sri Lanka Majintha Jayesinghe highlighted the distinctive splendors of Sri Lanka. While speaking of the many attractions, the Ambassador ensured assistance to Austrian travel agencies.
During his presentation, Assistant General Manager of Aitken Spence Travels, Sampath Perera highlighted the unexplored touristic attributes and attractions that Sri Lanka poses to potential Austrian tourists and travellers while presenting detailed information in categories such as culture, wildlife, adventure, beaches, festivals, ayurveda, and UNESCO designated heritage sites. A number of fascinating promotional videos on Sri Lanka were also screened.
At the event, Managing Director of Aitken Spence Travels Nalin Jayasundera elaborated the contribution of Aitken Spence Travels in destination promotion and invited attendees to facilitate and encourage potential tourists to visit Sri Lanka during the upcoming holiday season.
A raffle was drawn at the event where the grand prize was offered by the prestigious Aitken Spence hotel chain. Sri Lankan traditional refreshments together with world famous Ceylon tea were served to the travel agents.
Austria is placed among the potential markets for tourism in Sri Lanka and during the first four months of 2023 Sri Lanka received 3411 tourists from Austria. Being a leading conglomerate in the hospitality sector in Sri Lanka, Aitken Spence maintains a solid clientele in the European market.
Colombo (LNW): In a move to provide an efficient service to passengers, an Automated Border Control (ABC) system is to be established at the Katunayake Bandaranaike International Airport (BIA).
Funded as per an order by the Cabinet, an agreement was signed between the BIA and the Airport and Aviation Services (Sri Lanka) (Pvt.) Ltd. (AASL).
The basic facilities required for the unit was provided by the Department of Immigration and Emigration, and the project will be jointly carried out by the AASL and the Department.
In the initial stage of the project, two automated Immigration-Emigration Gates (eGates) will be set up at the departure terminal, and two more at the arrival terminal within a period of eight months.
Colombo (LNW): Former Minister Naveen Dissanayake will be appointed as the new Governor for the Sabaragamuwa Province, said Deputy Leader of the United National Party (UNP) and President’s Advisor Ruwan Wijewardena, speaking to reporters after attending an authority board meeting of the Party in Biyagama recently.
Dissanayake will be appointed as the new Governor for the Sabaragamuwa Province next Tuesday (13), the UNP Deputy Leader revealed.
PMD: President Ranil Wickremesinghe said that it is the aim of the Government to maximize the contribution of tourism in order to achieve the development goals of the country.
Sri Lanka’s unique Culinary Art has attracted tourist from all over the world and maximum Government support will be extended to its promotion, the President mentioned.
The President made this statement while declaring open the Culinary Art Food Expo (CAFÉ) 2023 yesterday (09) at the Bandaranaike Memorial International Conference Hall (BMICH) premises in Colombo.
The Chefs Guild of Lanka organizes the Culinary Art and Food Exhibition, which showcases the talent of culinary artists from all over Sri Lanka.
This year’s exhibition consists of 88 product and service booths and the President also joined in observing the booths. The President was also engaged in a cordial conversation with the chefs who participated in the exhibition, also inquired about the issues they were facing.
The President also said that many new programs will be implemented for the advancement of the field, including the establishment of a Culinary Art school and the introduction of a system for ranking chefs.
Further speaking President Ranil Wickremesinghe said;
First of all, I must thank you for inviting me to this exhibition. And what you have displayed here fits in with the growth policy of the Government. The growth policy of the Government includes tourism to double and in first stage the numbers to go up to 5 million. Secondly, increase their revenue per tourist, which means we have to now go to the high end tourists.
Some are worried whether it is a difficult jump to make. I don’t think you have any option. We have a large number of human resources leaving the country because it is far more attractive elsewhere. We have at least got to match Maldives in the remuneration. Otherwise you can’t run a tourist industry.
That can only be done if we are prepared to increase the rate thereby. But to do that we must give a good service. There are many aspects; But remember, one that is common to all is cuisine. The tourists are coming here because they are interested in cuisine.
As far as the suppliers are concerned, we would like you to remain in a high standard and even go have a higher standard, be able to make a mark that somehow you can even export some of your products to other countries.
We have to ensure that we have a sufficient number of tests in this country as the industry expands. Unfortunately, at the moment we haven’t. We have no means of satisfying the demand. So the Government will certainly help different hotels and associations to expand the number. Don’t expect the Government to do it. We don’t. We can’t cater to that market that is required. So that has to be done by the non-Government sector and we are certainly willing to help.
We will also help by starting one school, specifically for cuisine and culinary work. So that’s what we can do. I hope that the others will take up. There has been a demand in the South. I think we can have one in Nuwara Eliya, Bandarawela, Ella and Dambulla. We can help ensure you to get chefs from abroad who also have the experience to ensure that their knowledge and the experience is passed onto the younger members of this profession.
Secondly, I think we should have some system of grading our chefs. So why don’t we have international standards and give a few stars? I think when the new tourist policy is announced it is a matter that you will have to discuss with the Ministry of Tourism.
I would like to see some of the private entrepreneurs coming forward. You can’t develop the tourist industry without developing the human resources.
It is useless giving tax incentives for hotels if they haven’t got the manpower for the kitchens. So the Government is willing to help and to work together with, most probably in the next two months, announce our new policies and you will be surprised at what changes we are going to make. And similarly your association and others involved in the tourist trade will get together I presume, to help us go forward.
Remember, we have a good future and we do so by developing the young talent we have. All those people here should one day become good chefs and I hope work in Sri Lanka. But we have to ensure the conditions here are conducive to them for staying in the country.
Chef Gerard Mendis, Chairman, Chefs Guild of Lanka
First of all, let me welcome all of you for one of the most challenging events; ‘CAFE 2023’ that we will stage. When I say challenging since 2019, we were not able to stage the event due to the COVID and many issues that we faced.
However, this year we took a bold decision. In fact, we took a chance wondering whether we would have the response that we normally have had in the past. However, the response has been great for this event considering the situation that the country has been in. And believe me; I had my doubts as well because the tourism sector was the hardest hit. And I will say I agree 100% that we have come from it much faster than we ever thought we would.
And we have to thank the President solely and its supportive government that made it happen. There were many businesses that had to close down, but you can see many of them also opening. Now, our main objective in the scale of Lanka is to fly the image of our chefs’ sky high. And secondly, we have a commitment to train and develop as Sri Lankans in the industry.
Chef Thomas Gugler, President, World Association of Chefs Societies, Shiran Peiris, Managing Director, Asriel Marketing (Pvt) Ltd, Duminda Kotalawala, General Manager, C W MACKIE PLC, Anuruddha Aluvihara, Country Head, Upfield Lanka Sales (Pvt) Ltd, David Ablet, Country Head, S4IG, Akmal Wickremaratne, Director, Pelwatte Dairy Industries Ltd. also attended the the event.
Colombo (LNW): The cyclonic storm “BIPARJOY” which spends a very severe state at the moment over East-Central Arabian Sea was located at 1130 hours of 10th June, 2023 near latitude 16.8 degrees North and longitude 67.4 degrees East, and may intensify further and move nearly north northeastwards during Sunday (11), warned the Natural Hazards Early Warning Centre of the Department of Meteorology in a statement.
The naval and fishing communities are advised not to venture into the sea areas bounded by (10N – 20N) and between (62E – 72E) until further notice, and are urged to be attentive to future forecasts issued by the Department in this regard, the statement added.
Meanwhile, showers or thundershowers will occur at times in Western and Sabaragamuwa provinces and in Galle and Matara districts, and fairly heavy showers above 50mm are likely at some places in the Sabaragamuwa Province and in Galle, Matara, Colombo and Kalutara districts, the Dept said in its daily weather forecast today (11).
Several spells of showers may occur in North-Western province and in Kandy and Nuwara- Eliya districts, and showers or thundershowers will occur at several places in Uva province and in Ampara and Batticaloa districts during the evening or night.
Strong winds about (40-45) kmph can be expected at times in western slope of the central hills, Northern and North-Central provinces and in Hambantota, Puttalam and Trincomalee districts.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershower.
Marine Weather:
Condition of Rain: Showers or thundershowers will occur at several places in the sea areas off the coast extending from Puttalam to Matara via Colombo and Galle. Winds:
Winds will be south-westerly over sea area around the island and speed will be (25-35) kmph.
Wind speed may increase up to (50-60) kmph at times in the sea areasoff the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai and from Hambantota to Pottuvil. Wind speed may increase up to (40-50) kmph at times in the sea areasoff the coast extending from Puttalam to Hambantota via Colombo and Galle.
State of Sea: The sea areasoff the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai and from Hambantota to Pottuvil will be rough at times. The sea areasoff the coast extending from Puttalam to Hambantota via Colombo and Galle will be fairly rough at times.
Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
