Colombo (LNW): President Ranil Wickremesinghe is scheduled to table the government’s proposals on the implementation of the 13th Amendment to the Constitution in Parliament next week, informed sources said.
These proposals will be presented with a special statement by the President, and Wickremesinghe is believed to be presenting facts pertaining to the sharing of powers other than police powers under the 13A.
The 13th Amendment to the Constitution was introduced to Sri Lanka as an outcome of the Indo-Lanka Peace Accord of July 1987, signed between then Prime Minister of India Rajiv Gandhi and then Sri Lankan President J.R. Jayawardena, proposing the devolution of power by introducing the ‘federal system’, in an attempt to resolve the longstanding ethnic conflict. The outcome of it was the establishment of Provincial Councils.
Wickremesinghe had convened an all-party conference on July 26 to inform the party leaders representing Parliament about the government’s programme in relation to national reconciliation, with a primary focus on the 13A.
Colombo (LNW): The Indo-Lanka Free Trade Agreement (FTA) is to be upgraded to an Economic and Technology Co-operation Agreement (ECTA).
President Ranil Wickremesinghe said that ECTA is essential as India is going to be the next growth center and will trigger off growth in South Asia.
“We are just 22 miles away and we have to work especially to ensure that the synergies of Sri Lanka and Tamil Nadu are brought together,” the President said.
The President expressed this view during an interview organized by Harvard University through Zoom technology.
India and Sri Lanka agreed to start discussions on an Economic and Technology Cooperation Agreement (ECTA) and unveiled plans to cooperate on power, digital payments, connectivity and green energy. The ECTA with Sri Lanka will focus on tariff and non-tariff barriers as well as investment rules.
The development came during the visit of Sri Lankan President Ranil Wickremesinghe to New Delhi recently.
Indian and Sri Lankan authorities are now working towards the finalisation expeditiously of the much delayed and widely debated Economic and Technology Co-operation Agreement (ETCA), which will out strip the existing free trade agreement (FTA) entered in to in March 2000, Trade Ministry sources confirmed.
The conclusion of ETCA negotiations has been delayed for five and half year period since 2016, as it was opposed by professional bodies, particularly in the IT and healthcare sectors who alleged that it would give preference to Indian workers displacing skilled Sri Lankans.
It was initially scheduled to be signed in 2016 when President Ranil Wickremesinghe was the prime minister at that, time; senior trade ministry official said adding that it is expected to address larger issues of market access and asymmetry in two-way trade.
According to the Commerce Department of the Trade Ministry, there has been no progress in negotiations between India and Sri Lanka with regard to the controversial ETCA.
The importation of good from India to Sri Lanka was at a very low level under the free trade agreement during the past few years due to heavy taxes on Indian imports which was not covered under the FTA.
Further Indian imports were subjected to other levies and duties in addition to customs duties such as the cess levy and the Ports and Airports Development Levy (PAL), he pointed out.
However, the growth of exports to India from Sri Lanka has been sluggish due to the non-tariff barriers imposed by the Indian authorities, which include un necessary regulatory requirements, he added.
The ETCA initiative follows unfruitful negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between the two countries. The India-Sri Lanka Free Trade Agreement of 1998 was followed by efforts towards CEPA to liberalise trade in services and investment starting in the mid-2000s.
Colombo (LNW): The gazette notification revising the water tariffs has been issued last (02) night, signed by Minister of Water Supply and Estate Infrastructure Development Jeewan Thondaman.
Accordingly, the tariff revisions will be in effect from August 01.
The low income families, including Samurdhi beneficiaries and residents of the plantation community, however, will not be affected by the revision.
Colombo (LNW): Singer Umara Sinhawansa has made a formal apology to anyone who was offended by the way she sang the National Anthem at the opening ceremony of LPL 2023 Cricket Tournament.
In a Facebook remark, the singer made a formal apology over the gaffe.
Colombo (LNW): Except for a few showers in Western and Sabaragamuwa provinces and in Galle and Matara districts, mainly fair weather will prevail elsewhere over the Island, the Department of Meteorology said in its daily weather forecast today (03).
Strong winds about (45-50) kmph can be expected at times in western slopes of the central hills, Northern, North-Central, Southern and North-Western provinces, and in Trincomalee district, the statement added.
Marine Weather:
Condition of Rain:
Showers may occur at a few places in the sea areas off the coast extending from Colombo to Matara via Galle.
Winds:
Winds will be south-westerly and speed will be (30-40) kmph. Wind speed may increase up to (55-65)kmph at times in the sea areas off the coast extending from Hambantota to Pottuvil and the sea area off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai. Wind speed may increase up to (45-50)kmph at times in the other sea areas around the island.
State of Sea:
The sea areas off the coast extending from Hambantota to Pottuvil and the sea area off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai will be rough at times. The other sea areas around the island may fairly rough at times.
Colombo (LNW): The Hotels Association of Sri Lanka (THASL) has stressed that Sri Lanka’s golden opportunity to reposition tourism via Minimum Room Rate must not be squandered and it should not impact tourist arrivals but enhance much needed higher foreign exchange earnings
It warns selling 5 star double room per night at US$ 60 net no longer acceptable pointing to DMCs only accounting for 20% of city hotels bookings while insisting higher room rate means higher contribution to Govt, hotels and economy.
The Hotels Association of Sri Lanka (THASL) President M. Shanthikumar yesterday expressed his concern over tour operators trying to scuttle efforts to earn much needed additional foreign exchange from a rebounding tourism industry.
“It is a pity that some members of Sri Lanka Association of Inbound Tour Operators (SLAITO) with vested interests are objecting to the implementation of the Minimum Room Rate (MMR) for the Colombo city tourist hotels,” charged Shanthikumar.
“Whilst the hoteliers endorse President Ranil Wickremesinghe’s vision for tourism and are working towards improving the present pricing structure in the city to reasonable levels through a MRR, we are surprised that SLAITO is trying to scuttle this move through a series of press articles voicing their objections. This is purely for the benefit of a few individuals,” THASL Chief alleged.
According to Shanthikumar, Sri Lanka has a golden opportunity to reposition the tourism industry under the Presidency of Ranil Wickramasinghe and the leadership of Tourism Minister Harin Fernando. “This opportunity shouldn’t be squandered,” THASL Chief said.
Shanthikumar said strong and effective travel agents have given Sri Lanka the confidence that the country can be marketed aggressively even if a MRR is in place and they have assured they will target a different segment of the market, especially from destinations such as India.
According to him, the immediate survival and higher revenue generation is the need of the hour. Tourism Minister Harin Fernando has assured that the global promotional campaign by SLTPB will be rolled out towards the last quarter and the President Wickremesinghe has proposed to roll out the new tourism plan later this year. These efforts will yield positive results by 2024 early 2025.
In a statement it claimed that a study done, of rates, in competing destinations in the region, shows that the rates being proposed are more than 130% above the average market rates, offered by hotels in the competing destinations.
“If implemented, it will be detrimental to the tourism industry and the Colombo hotels themselves that are already struggling.
Therefore it is abundantly clear, that this move will result in destination Sri Lanka, out-pricing itself,” they pointed out. It warned that the Indian market, particularly the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, will be impacted most by MRR.
Colombo (LNW): The Export Development Board (EDB) says it is in the process of developing a 5-year strategic plan to boost Sri Lanka’s exports. In a statement, the Board said this plan aims to increase Sri Lanka’s exports to USD 31.3 billion by 2027.
The plan also encompasses increasing the market share of Sri Lanka in the top 10 existing export markets by 10% annually.
The identified top 10 markets are the USA, the UK, India, Germany, Italy, the Netherlands, Canada, the UAE, Belgium and France. Meanwhile, 10-15 potential new markets too will be identified and the market share of the selected markets will be increased by 5% annually.
The EDB said exports would be expanded by promoting customized value-added products and services to the identified niche markets with premium prices, and carrying out product-market analysis on high-end niche markets in addition to disseminating their findings with the exporter community.
“The EDB is determined to serve the nation by undertaking its role as the nation’s apex export promotion agency, as Sri Lanka embarks on its journey towards becoming a developed nation by 2048 in order to create a standard-of-living to its citizens which is filled with hope and prosperity.”
The EDB, established in 1979, celebrated its 44th anniversary on August 01, 2023. The Board was formed with the objective of establishing a strong government-level institutional framework.
It was aimed to develop and promote Sri Lanka’s exports in order to integrate with the global economy consequent to the adoption of liberal economic policies in 1977, and it has been at the vanguard in terms of promoting and developing exports in Sri Lanka for over four decades.
The Export Development Board (EDB) and the Foreign Ministry are working closely together to increase the country’s export revenue and mitigate the negative impact of the COVID-19 pandemic on the export industry.
There are several joint initiatives taken by the EDB and the Foreign Ministry to enhance exports.
This includes identifying new market opportunities, creating awareness by disseminating market alerts, addressing supply chain issues, enhancing capacity building through webinars, and creating business linkages to support existing exporters to sustain their exports.
Sri Lanka’s Missions and Posts overseas continued to share updates and developments relevant to the markets they covered.
These updates included available market opportunities as well as changes to trade and policy regulations during the pandemic which enabled Sri Lanka’s exporters to adapt accordingly.
EDB being the facilitator for Sri Lankan exporters made efficient arrangements to circulate market updates rapidly among exporters via email and its website, and made use of IT based solutions to connect exporters and importers by organizing a series of webinars in collaboration with foreign trade chambers with the assistance of Sri Lanka’s Missions overseas.
Colombo (LNW): Sri Lanka’s Ceylon tea and cinnamon prices were coming down rapidly making it difficult for tea small holders and cinnamon cultivators to survive in the plantation sector, small plantation owners claimed.
Several tea small holders said the price of a kilo of fresh tea leaf has dropped drastically to Rs 150 at present from the new high of Rs300 a few months ago.
One of the key issues confronting the tea industry is the decline in productivity, notably in tea plantations of such major producers as Kenya, India, and Indonesia.
Before the island nation’s economic crisis, tea exports accounted for US$1.3 billion (€1.27 billion) annually and 5% of all global tea production. But this has now dropped to its lowest level in 23 years.
Sri Lanka produces around 300 million kilograms of tea annually and is predominantly an orthodox tea producer. Indeed, Sri Lanka is the largest supplier of orthodox teas, exporting more than 95% of its production.
Stakeholders insist the country’s emergency has trickled down to job losses and rambling tea estates are already witnessing rising social tensions, as those without work in Colombo return home.
The price of kilo of cinnamon has dropped to Rs 2000 from Rs 500 sometimes back.Sri Lanka has about 35,000 hectares of cinnamon, which are mainly grown in the Galle and Matara districts, with about 60,000 farmers and 300,000 workers earning a living from the labour intensive and low-paid industry.
While Mexico is the main market for Sri Lankan cinnamon, the popular spice is also exported to a range of countries, including the US, Peru, Bolivia, Chile, Guatemala and various European nations. In 2021, Sri Lanka exported 18,813 metric tons of cinnamon, generating export earnings of $US230 million.
Although the price of cinnamon and its related products have increased on domestic and foreign markets, farmers are deprived of the benefits because of the domination of private middlemen traders.
Higher production costs and intensifying competition from Indonesia, China and Vietnam have also pushed the Sri Lankan cinnamon industry, like tea and rubber, into crisis.
Elephant House, Sri Lanka’s most beloved food and beverage brand, is delighted to announce its prestigious partnership with Lanka Premier League 2023, Sri Lanka’s biggest T20 Premier League. This exciting collaboration marks a significant milestone for both Elephant House and the cricketing community in Sri Lanka, as they come together to celebrate their shared passion for cricket, entertainment, and delicious refreshments.
As an essential part of Sri Lanka’s rich cultural heritage, Elephant House has been a trusted name among consumers since its establishment in 1852. For over a century, the brand has continued to bring joy to countless Sri Lankan households with its wide range of delectable ice creams and refreshing beverages.
Lanka Premier League, known for its electrifying cricket matches, has become one of the most anticipated sporting events in the country, capturing the hearts of cricket enthusiasts and fans worldwide. The league attracts some of the best talent from around the globe, making it a thrilling spectacle of sportsmanship and excitement.
Mr. Daminda Gamlath, President – Consumer Foods Sector of John Keells Holdings PLC, expressed his enthusiasm about the collaboration, stating, “We are thrilled to partner with Lanka Premier League 2023. Cricket is not just a sport in Sri Lanka; it is a way of life. Through this partnership, we aim to further strengthen our bond with the nation while enhancing the cricketing experience for fans across the country. As spectators cheer for their favorite teams and players, Elephant House will be there to offer a refreshing respite with our high-quality beverages, ice creams and foods.”
This partnership comes at a time when both Elephant House and Lanka Premier League share a vision of fostering a sense of unity, passion, and national pride. It represents a unique opportunity for Elephant House to extend its reach to a wider audience while aligning with the core values of the sport – teamwork, integrity, and fair play.
During Lanka Premier League 2023, cricket enthusiasts can look forward to enjoying an enhanced experience at the stadiums, with Elephant House refreshment kiosks offering an array of delightful beverages and ice creams to refresh and delight enthusiastic spectators.
Moreover, Elephant House will run exciting promotional campaigns and competitions, giving fans a chance to win exclusive merchandise and match tickets. By blending the excitement of cricket with the joy of delicious refreshments, Elephant House aims to create lasting memories for fans attending the league matches.
Stay tuned for more updates on the collaboration between Elephant House and Lanka Premier League 2023 as they come together to make this year’s T20 Premier League a truly unforgettable experience for all cricket fans.
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.
