The issuance of domestic LP Gas cylinders to the market will be carried out in a restricted manner till Wednesday, Nov 30, 2022, due to the increased demand amidst the upcoming festive season and the delay in the arrival of a ship carrying gas, announced the state-run LITRO Gas Company.

Nevertheless, the issuance of LP Gas will continue as usual after the unloading of a new gas stock which is due to arrive in the island by Wednesday, said Company Chief Muditha Peiris.

“As the LITRO Gas Company, we do not see a shortage of gas. But we observe that with the festive season in December is an increased demand. Therefore, it was arranged to make 34,000 metric tonnes of gas orders for the month December. A portion of it is due to arrive in this country by Thursday. Thereafter, ships will continue to arrive till January. We issued about 42,000 cylinders to the market with restrictions. There may have been a shortage in some places, which is a result of our restricted issuance rather than a shortage,” Peiris said.

MIAP

1. Former Finance Minister of Greece Yanis Varoufakis asks people of Sri Lanka to stop thinking of IMF as “your Saviour”: says IMF is “your potential destroyer”: explains there’s a difference between a “bitter medicine” and a “toxic drug” that kills a patient: urges Sri Lankans not to swallow toxic waste thinking it’s effective medicine.
   
2. National Audit Secretariat says over 989 people and 3,649 wild elephants and tuskers have died from 2016 to 2020 due to the human-elephant conflict.
   
3. State Minister of Higher Education Dr. Suren Raghavan says laws will be enacted soon to minimise overcrowding in university hostels due to some students overstaying: says the intention is to accommodate new student batches.
   
4. UN states 28% of the population faces food insecurity and that the poverty rate has doubled this year: also says Food price inflation is over 85% and acute shortages of Forex remain: previously, CB Governor Nandalal Weerasinghe had assured that Forex will be available for all imports when Forex debt is not paid.
   
5. Former CB Governor Ajith Nivard Cabraal says the announcement that Sri Lanka is “bankrupt” on 12th April 2022 was the biggest betrayal of Sri Lanka after independence: alleges the announcement of bankruptcy was a result of a conspiracy planned and executed by an organized group.
   
6. Head of India’s RAW Agency Samant Kumar Goel meets President Ranil Wickremesinghe for wide-ranging talks: President’s Senior National Security Advisor Sagala Ratnayake and SL’s High Commissioner in India Milinda Moragoda also participate at the discussion.
   
7. Tea Research Institute Director Dr Saman Hettiarchchi says the TRI will introduce “Tea Wine” to the global and local market early next year: also says TRI has done over 4 years of research before launching this product.
   
8. State Finance Minister Shehan Semasinghe says the 3rd meeting with external creditors has not been scheduled yet: also says Sri Lanka is facing a delay in debt restructuring and IMF loan approval.
   
9. Sports Minister Roshan Ranasinghe says when he receives the Report of the Committee led by former High Court Judge Kusala Sarojini Weerawardane on allegations that cricketers from a particular religious sect are selected to the national team, he would refer the matter to the CID.
   
10. Second Cricket ODI between Sri Lanka and Afghanistan called off due to rain: Afghanistan (228 all out), Sri Lanka (10/0 in 2.4 overs) when rain interrupted play.

The United Nations World Food Programme (WFP) in Sri Lanka welcomed a contribution of EUR 500,000 (approximately LKR 190 million) from France towards its emergency response for children and families affected by the country’s worst economic crisis in decades.

Around 9,000 families facing high levels of food insecurity will receive nutritious foods to help them feed their under-five children.

Each family will receive a food basket – valued at LKR 15,000 (approximately EUR 40) and consisting of eggs, rice, fresh milk, red lentils and other protein-rich pulses – every fortnight over a period of one year.

“France stands in solidarity with Sri Lanka in the current crisis,” said Mr. Jean-François Pactet, Ambassador of France in Sri Lanka.

“Today, food security is a major global challenge and France is committed to promote international cooperation to respond to it. The French contribution to WFP in Sri Lanka will bolster the resilience of the most vulnerable populations and help fight malnutrition among under-five children.”

According to the WFP-FAO Crop and Food Security Assessment Mission (CFSAM) carried out in June-July this year, nearly 30 percent of the country’s population – 6.3 million people – are food insecure. WFP’s latest surveys indicate that nearly seven out of 10 households are using negative coping strategies, such as skipping meals, limiting portion sizes and eating less nutritious food.

“Parents are cutting back on what they eat to be able to feed their children,” said Abdur Rahim Siddiqui, WFP Sri Lanka Representative and Country Director.

“Steep food price increases, loss of jobs and reduced incomes are pushing nutritious meals out of reach for millions of people. We are grateful for this timely contribution from France. It will enable us to provide critical food assistance to young children to stave off malnutrition.”

WFP will work in partnership with the Sri Lanka College of Paediatricians to reach children in areas where malnutrition rates are high.

In collaboration with the Family Health Bureau and the Sri Lanka Red Cross Society, children who require nutritional support will be identified by medical officers and midwives at child welfare clinics. Working together, the partners will track child health standards by monitoring their progress over a one-year period.

This contribution from France is in line with its International Strategy for Food Security, Nutrition and Sustainable Agriculture (2019-2024) and its recent commitments in the framework of the “Nutrition for Growth” (N4G) initiative to ensure healthy, nutritional and sufficient food for all and enable populations to regain their food autonomy.

France joins global efforts to support WFP’s emergency operation in Sri Lanka. Launched in June, the operation aims to provide food and nutrition assistance to 3.4 million people in the coming months, and nearly 900,000 people have already received cash, vouchers and food assistance to date.

Sri Lanka is still experiencing a steady decline in official foreign reserves held by the Central Bank, falling from about US$8 billion in 2020 to $1.7 billion in October less than $2 billion in around two years.

Since the beginning of 2020 Sri Lanka’s demand for foreign currency has increased while its ability to earn foreign currency – through exports, loans and other capital inflows – has declined.

According to CEIC data the country’s Foreign Exchange Reserves was measured at $ 1.6 bn in Oct 2022, compared with $1.7 USD bn in the previous monthග

However the Central Bank contradicting CEIC statistics noted that Sri Lanka’s gross official reserves were estimated $1.7 billion as of end October 2022, including the swap facility from the People’s Bank of China, equivalent to around $1.4 billion, which has certain conditionality on usability.

The Central Bank said that the merchandise trade deficit for the ten months ending October 2022 contracted significantly, owing to the robust export earnings and a substantial decline in import expenditure due to policy measures taken to curtail demand for imports, amidst the shortage in foreign exchange.

Workers’ remittances are expected to improve in the period ahead with rising departures for foreign employment, while the tourism sector is set to mark an improvement in view of the upcoming season for tourist arrivals.

Amidst the improvements observed in liquidity in the domestic foreign exchange market, the Central Bank continued to facilitate the import of essential goods to ensure the availability of energy, power and other supplies necessary for uninterrupted economic activity. Meanwhile, the exchange rate remained broadly stable.

The Central Bank said that risks to external demand could emerge amidst moderating global growth prospects in the near term, however, rising prospects of the tourism sector and workers’ remittances would help offset any negative spillovers to a large extent.

Meanwhile, in consideration of the current and expected developments, both locally and globally, the Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 23 November 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively.

The Board reiterated its continued commitment to restoring price stability and ensuring financial system stability, and remains confident that inflation would follow the projected disinflation path underpinned by the prevailing monetary policy stance, while supporting the economy to reach its potential over the medium term.

The Committee on on High Posts recently (Nov 22) approved the appointment of four secretaries to ministries, a chairperson to a public institution and an ambassador, revealed Secretary General of Parliament Dhammika Dasanayake.

Accordingly, the following persons have been granted approval to be appointed to the said posts;

• Udaya Indrarathna as the Ambassador of Sri Lanka to the United Arab Emirates
• W.A. Chulananda Perera as the Secretary to the Ministry of Tourism and Lands
• Aruni Wijewardena as the Secretary to the Ministry of Foreign Affairs
• J.M.T. Jayasundara as the Secretary to the Ministry of Industries
• N.D. Gunawardena as the Secretary to the Ministry of Technology
• K.A. Wimal Rupasinghe as the Chairperson of the National Paper Company Limited
• Kanchana Ratwatte as the Chairperson of the Bank of Ceylon

MIAP