The prices of domestic LP gas cylinders will increase effective from midnight today (05) announced the state-run LITRO Gas Company.
The moves to increase the gas price at a minimum rate comes in in compliance with the price hike in the global market, to protect the local distributor, LITRO announced.
Below is the statement issued by LITRO revealing new gas prices:
MIAP
The price of auto diesel will be slashed by Rs. 10 per litre effective from midnight today (05).
The price revision has been approved by both the Ceylon Petroleum Corporation (CEYPETCO) and the Lanka Indian Oil Company (LIOC).
Accordingly, the new price of diesel will be Rs. 420 per litre.
MIAP
Dhammika Perera, Ruling Party MP, business magnet and founder of DP Education, said his dream for DP Education when he initiated it has now come true, in a candid statement publicised today (05).
The G.C.E. Ordinary Level certificate is the primary educational qualification in Sri Lanka. Mathematics, among other core subjects being chosen, takes the first place there.
Whilst developing our mind, Mathematics also gives us many benefits, for Mathematics speeds up the mind and teaches us to solve complicated problems.
By using the adequate teaching methods for this subject, which makes us smarter, learning becomes easy and enjoyable.
It is in this backdrop have we introduced the free course of Mathematics at DP Education from Grade 01 to Grade 11 by deploying best teachers available in the island. This is why we conducted revision classes.
Today, the children have gained its results.
Through the programme, the children had the opportunity to study from home during the Covid period and during the crisis period when there was no electricity and schools.
The results being looked at in an analytical perspective, I observed that those who earned “A” passes for Mathematics in G.C.E. Ordinary Levels in 2020 were a 20 per cent portion of the entire pool of students.
But in 2021, the number of students who earned “A” passes has increased up to 29 per cent.
I started DP Education with seeing a dream.
Today, that dream has come a reality.
May we make that dream the future dream of the country.
I convey my sincerest gratitude to the entire generation of children in this country who made this commitment, to the teachers and staff of DP Education, to the dedicated school principals and teachers, and to the parents.
Thank you!
Dhammika Perera
Founder. DP Education
MIAP
A scholarship programme utilising funds from the President’s Fund has been initiated under the directives of President Ranil Wickremesinghe for students who have passed the G.C. E. (O/L) examination and are sitting for the GCE (A/L) examination in 2024.
The programme was implemented as per the instructions of President Ranil Wickremesinghe and President’s Secretary Mr. Saman Ekanayake issued a letter dated 30th November 2022 to the Secretary of the Ministry of Education to start inviting applications from eligible students.
Accordingly, to qualify for the scholarship, the monthly income of the applicant’s family should not exceed Rs. 75,000/- and the applicant should be a student studying in a government school or a free private school.
The applicant should have sat for the G.E.C. (O/L) Examination in the year 2021 (2022) for the first time and be qualified to sit for the G.E.C. (A/L) Examination in the year 2024.
The number of scholarships per educational zone is 30, and the selected scholarship winners will receive Rs. 5,000.00 each and the bursary will be awarded for a maximum period of 24 months.
The Ministry of Education has already forwarded the related applications to the principals. Scholarship candidates should get the relevant applications from the Principal complete them and submit them to the Principal prior to the 23rd of December 2022 with the relevant recommendation of the Grama Niladhari Officer regarding the income status of the family.
The principals should then forward these applications to the Regional Director of Education.
A committee chaired by the Regional Director of Education would select the applications forwarded by the Principals to the Regional Education Offices. The top 30 candidates would be selected and a copy of the applicant’s National Identity Card, bank account details and other relevant details should be completed by the Regional Director of Education and sent to the Ministry of Education before the 3rd of February 2023 through the Provincial Director of Education.
Late applications sent after the deadline will be rejected.
The relevant newspaper advertisement has been published by the President’s Fund on the 05th of December 2022, in the national newspapers “Dinamina” and “Thinakaran”. The relevant application and instructions could be obtained through the website of the President’s Fund at www.presidentsfund.gov.lk.
The Attorney General today (05) has pledged before the Court of Appeal that security officers will be deployed for the protection of former Director of the Criminal Investigation Department (CID), Shani Abeysekara.
The pledge was made as the petition filed by Abeysekara demanding that an order be made assuring security over the threats posed to him was taken up today.
Additional Solicitor General Rohantha Abeysuriya appearing for the Attorney General stated that two armed Police officers will be deployed for the safety of Mr. Abeysekara, in addition to another Police officer deployed for the safety of his residence.
Should Mr. Abeysekara decide to change his location of residence, arrangements can be made to provide him a safe place, the Additional Solicitor added.
MIAP
The Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the current financial crisis in the Island nation.
The Paris Club has said that it is ready to start the debt treatment process of Sri Lanka following the conclusion of the Staff-Level Agreement with the International Monetary Fund (IMF), Hindustan Times reported.
The Paris Club in a statement also reiterated its willingness to coordinate with non-Paris Club official bilateral creditors to provide the necessary financing assurances in a timely manner and ensure fair burden sharing, as already proposed to the largest other official bilateral creditors.
“The Paris Club remains at the disposal of Sri Lanka authorities and non-Paris official bilateral creditors to further discuss the next steps of the debt treatment process,” it said.
The statement said Paris Club members welcome the SLA between the Sri Lankan Government and the IMF for a 48-month arrangement under the Extended Fund Facility worth $ 2.9 billion.
“This agreement represents an important step to restore macroeconomic stability and public debt sustainability,” the statement added.
While the Paris Club is still to formally reach out to India and China, two of Sri Lanka’s biggest creditors with Beijing holding near 50 per of external debt.
Sri Lanka government on its part is still to initiate a formal dialogue with China and India ,the chances of getting extended fund facility of USD 2.9 billion approved from IMF executive board this month range from very low to non-existent.
This means that Sri Lanka will have to wait for the March IMF meeting of the IMF before any aid is extended by the Bretton Woods institution.
While Sri Lanka owes some US4 800 million in structured debt to India, the Modi government has provided emergency aid to the tune of USD four billion to the Island nation to tide over its economic crisis.
China, Chinese Exim, and China Development Bank hold billions of US dollar debt with Sri Lanka with the total external debt of the Island nation touching nearly US$ 40 billion.
The Sri Lanka Government public debt has gone up from 115.3 per of the GDP in end-2021 to 143.7 per cent of the GDP in end June 2022. During 2022, the debt has increased further due to foreign exchange depreciation, deep recession and fiscal deficit with no signs of early revival.
The controversial US $ 250 million Sri Lanka LNG power project deal with the US energy company the New Fortress Energy Inc.(NFE) has come in to the focus once again following the government’s urgency to review the project.
The possibility of resume the LNG project under the much delayed deal with NFE was discussed at a special meeting held under the patronage of President Ranil Wickremesinghe and Treasury Secretary Mahinda Siriwardana recently official sources said.
NFE and The Government of Sri Lanka executed a definitive agreement in September 2021 whereby NFE will invest in energy infrastructure in Sri Lanka and develop a new LNG Terminal off the coast of Colombo.
NFE said will have gas supply rights to the Kerawalapitya Power Complex and will initially provide GOSL an estimated 1.2 million gallons per day of LNG (~ 35,000 MMBtu) to supply both the currently operational 310 MW Yugadanavi Power Plant and an additional 350 MW (the Sobadanavi Power Plant) which is expected to commence operations in 2023.
The definitive agreement is subject to customary conditions, the statement said. “We are pleased that the Court has dismissed these petitions, as NFE can now proceed with our plans to deliver cleaner fuels and more reliable, affordable power to Sri Lanka,” said Wes Edens, Chairman and CEO of New Fortress Energy.
New Fortress Energy Inc. is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy.
The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities
In September 2021, the Cabinet approved the share transfer of 300 MW of the Yugadanavi Power Plant to NFE. Accordingly, the Finance Ministry has agreed to transfer a total of 40% shares of the power plant owned by the Treasury to NFE together with the rights to supply natural gas to Sri Lanka.
In May, it was revealed that the information on the minimum required LNG had been sought from the Ceylon Electricity Board (CEB) to support the now defunct NFE committee to conclude the negotiations of the proposed Gas Supply Agreement and amendments to the existing project agreements of West Coast Power Ltd. with the CEB.
The information had been sought in a backdrop where the Government had officially announced its Renewable Energy (RE) target of 70% by 2030.
It was further revealed that the Government was trying to reach a ‘take or pay’ agreement with the US company by deciding the minimum required LNG in the next 10 years.
According to a senior treasury official the two committees appointed to evaluate the proposals were working on it and that there were several agreements to be finalized with the CEB.
However, no response had been received from those committees, he said, adding that it was the Department of Public Enterprises that was handling the matter.
The Sri Lankan Government is getting set to privatize the national carrier, Sri Lankan Airlines in a bid to restructure the debt-ridden airline, faced with unprecedented economic turmoil on a national scale, can no longer afford to fund the carrier.
Sri Lankan Airlines CEO Richard Nuttall said that Sri Lanka benefited from pent-up travel demand despite global headwinds and is open to privatization
“The airline is also carrying quite a lot of debt .So if privatization provides some funding that allows us to reduce some of that debt, that also helps our ongoing operations and reduces the debt burden and makes future growth a much more realistic option,” he said.
Despite privatization efforts, Sri Lankan Airlines Chairman Ashok Pathirage revealed plans to lease up to 11 aircraft of which the lease contracts are expiring over the next year.
The Cabinet of Ministers has approved to replace of around 9-11 aircraft that are going out as per the lease agreement, he claimed.
“Based on the age of the aircraft, cost and availability, we have to analyse carefully what is good for the airline and for the country,” he explained.
As per Pathirage, lease contracts of around four aircraft are due to expire early next year from a fleet of 24 total aircraft. SriLankan Airlines had 27 aircraft before the COVID-pandemic, but it has now reduced to 24.
A decision on whether to restructure subsidiaries of SriLankan Airlines or privatize the entire entity as a single entity would be made soon by a committee, Aviation Minister Nimal Siripala de Silva said.
SriLankan Airlines official had been summoned to the committee earlier this week. The Ministry of Aviation first proposed that 49 percent of the catering unit, and 49 percent of ground-handling – which had given over to SriLankan – be sold to settle its debt. Then 49 percent of SriLankan be sold.
“There are two schools of thought,” Minister de Silva said. “At the cabinet the matter was discussed and his Excellency the President has referred the matter to the Treasury.”
Catering and ground-handling are captive profitable businesses which may represent easy money for those who buy the firms, according to some observers.
Ground-handling, which is a separate business from airline operations, however also represents easy money for the airline and can potentially bring tax revenues to the state if spun off and taxed appropriately.
Meanwhile Minister de Silva said the Chairman and Board was summoned before a Treasury Committee which is looking in to the matter.
“And they are discussing what is the best way out,” he said. “We will be guided not by a political decision but by a professional decision that will be given. So I think in one or two weeks they will consider this and given us a professional opinion.”
Sri Lankan Airlines has about a billion US dollars of debt including a sovereign guaranteed debt, and arrears to state-run Ceylon Petroleum Corporation on fuel bought before 2019.
A fire has reportedly broken out in a building located on Waragoda Road, Galborella, Kelaniya this morning (05).
The upper floor of the building, which is used as a warehouse of a private company, was taken over by the blaze and was almost completely destroyed, according to reports.
Meanwhile, six vehicles of the fire brigade belonging to the Colombo Urban Council are currently trying to contain the blaze and the electricity of the area has been cut out, correspondents further revealed.
MIAP
Felicitation ceremony organized by the learned community for President Ranil Wickremesinghe on his completion of 50 years at the Bar.
The ethnic, religious issues and other genuine concerns of the people could be put behind the past to prevent a break up of unity and integrity of the state by the 75th Independence Anniversary of the country. As discussed by the Members of Parliament, if the Attorneys-at-law in the country would assist in this process, this task could be achieved, said President Ranil Wickremesinghe.
He made this observation addressing the ceremony organized to felicitate President Ranil Wickremesinghe on completing 50 years at Bar, held at the Lotus Hall, Shangri-La Hotel, Colombo, yesterday evening (03).
He said further that it is not an easy task but neither is it an impossible task. He added that this task cannot be achieved merely through the efforts of the politicians, but the support of the lawyers is vital in this endeavor.
He said apart from the economic challenge, there is a greater challenge, where the younger generation is questioning the entire system. He added that now the country has the option of letting the wounds of the past heal or letting it grow further. The Parliamentarians have taken a decision to see how best to resolve the ethnic differences and work towards reconciliation, issues of religious differences and all the other genuine concerns of the people, without breaking up the integrity and unity of the state.
He also said that if all the Attorneys-at-law join hands, all the major problems could be put behind us and all communities could come together as children of one mother as the country celebrates its 75th Anniversary of Independence next year. He added that it would also give all the opportunity to understand and appreciate each other’s views and prepare a constitution which would enshrine the freedoms the people enjoy but also allow for constitutional governance.
President Ranil Wickremesinghe and First Lady Professor Maithree Wickramasinghe were received at this occasion by President’s Counsel Ronald Perera.
Addressing the gathering President’s Counsel Romesh de Silva said President Ranil Wickremesinghe has never worked for self-promotion but has always worked to strengthen Parliament.
President’s Counsel Romesh de Silva President’s Counsel Thilak Marapana and President’s Counsel Faiz Mustafa also spoke at the event. President’s Counsel Ronald Perera delivered the welcome speech and Attorney-at-Law Kushan de Alvis made the vote of thanks.
Speaker Mahinda Yapa Abeywardena, First Lady Senior Professor Mithree Wickramasinghe, Prime Minister Dinesh Gunawardena, former President Mahinda Rajapaksa , Chief Justice Jayantha Jayasuriya PC, UNP Chairman and Parliamentarian Wajira Abeywardena, Ports and Civil Aviation Minister Nimal Siripala de Silva, MP Anura Priyadarshana Yapa, MP Chandima Weerakkody, MP Udaya Gammanpila, MP M.A Sumanthiran, MP Lakshman Kiriella, Justice, Prisons Affairs and Constitutional Reforms Minister Wijeyadasa Rajapakshe, Secretary to the President Saman Ekanayake, President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Ratnayake, Senior advisor to President on Climate Change Ruwan Wijewardene, Presidential Adviser Akila Viraj Kariyawasam, Presidents Adviser Dr R. H. S. Samarathunga, President’s Adviser K P Dayaratne, UNP General Secretary Palitha Range Bandara, Navin Dissanayake and the President’s Private Secretary Sandra Perera also were present at the occasion.
PMD
