The prices of auto diesel and kerosene will be increased with effect from midnight yesterday (11), the Ceylon Petroleum Corporation (CEYPETCO) announced.
Accordingly, the price of auto diesel will be increased by Rs. 15 per litre to be sold for Rs. 430, and kerosene, Rs. 25 per litre, for Rs. 365.
Meanwhile, the price of petrol will remain unchanged, the announcement added.
MIAP
The Government yesterday announced that the import tax on ethanol used for manufacturing disinfectant liquids, reduced during the COVID-19 pandemic, has been increased to its previous levels amidst accusations of irregularities in ethanol imports.
“With this move, the Government expects to collect tax revenue of Rs. 1.6 billion,” State Minister of Finance Ranjith Siyambalapitiya said.
How ever the government has drawn special attention to the quantity of ethanol imported for use in Sri Lanka and the lack of proper regulation of importing institutions.
The Import and Export Control Department officials were instructed to submit a report to the Committee within two weeks containing the procedure for issuing licenses for the importation of ethanol into the country by various companies, information on each of these companies, and the quantity of ethanol imported by those companies.
At the height of COVID-19 pandemic, ethanol was imported to the country in large volumes to manufacture disinfectant liquids. Accordingly, the import tax on ethanol was reduced on two occasions on 30 April and 9 June 2020.
Separately, the Government has decided to raise the tax on toddy from Rs. 25 per litre to Rs. 50 per litre.
Justifying the move, State Minister Siyambalapitiya said the tax was hiked once again as the vendors did not pass on the reduced tax benefit to the consumers.
The Committee on Public Accounts recently (08) drew special attention to the quantity of ethanol imported for use in Sri Lanka and the lack of proper regulation of importing institutions.
The government also inquired into the issuance of licenses for the importation of vehicles and spare parts to Sri Lanka.
Although it had previously instructed to take the necessary steps to formulate a proper procedure in coordination with the Department of Motor Traffic, but no action had been taken in this regard.
It has been revealed that the lack of proper coordination with the Direct Liaison Institutions such as the Excise Department, the Department of Motor Traffic and the Sri Lanka Customs is very problematic in conducting the activities of the Department and was instructed to take the necessary steps to do computer networking immediately.
To this end, the importance of liaising with institutions such as the Information and Communication Technology Agency of Sri Lanka (ICTA) and the Telecommunications Regulatory Commission was also emphasized.
Investors in condominium property are to be given long term residence visa in a new drive of the government to boost foreign reserves and attract foreign investment.
The Board of Investment (BOI) in collaboration with the Department of Immigration and Emigration and the Ministry of Defense launched the long-term residence visa scheme for condominium property holders in Sri Lanka.
The official function was held at the BOI auditorium under the patronage of State Minister of Investment Promotion Dilum Amunugama, BOI Director General Renuka M. Weerakone, Dept. of Immigration I. S. H. Controller General and other respective officials on Thursday.
Under the new visa scheme, the condominium property purchasing individuals and companies will be granted a long-term residence visa considering the investment remitted and the value of purchasing the property. This scheme will be targeted to promote the selling of condominiums/apartments to foreign nationals who wish to live in Sri Lanka.
Accordingly, individuals who invest $ 200,000 in an urban area condominium are eligible for a 10-year long-term visa scheme while those who invest $ 150,000 in an urban area condominium are eligible for five years. Further, investors who invest $ 75,000 in suburban area condominiums are also eligible for five years.
On the other hand, companies that invest $ 500,000in an urban area condominium are eligible for a five-year long-term visa scheme while companies that invest $ 500,000 in a suburban area condominium are also eligible for a five-year long-term visa scheme.
At present, Sri Lanka has around 30,000 apartment blocks including private apartments, Government servants’ housing schemes, etc. Around 7,750 apartment units are managed by 968 condominium Management Corporations registered under the Institute of Certified Management Accountants of Sri Lanka (CMA).
Furthermore, the number of apartment units completed by the BOI is approximately 5,000 ranging from low-cost units to semi-luxury to super luxury.
It is also noteworthy that apart from the local investors, several countries have also shown interest in investing in the development of condominium projects and real estate developments in Sri Lanka. Besides, the majority of condominium buyers were Sri Lankan residents while there is a present trend of purchase of condominium units by dual citizens and foreigners.
In conclusion, the BOI hopes the new system will curb inconveniences the investors/enterprises face and further strengthen the digital transformation of work with the respective line agencies and ministries.
In a move to attract foreign remittances to troubleshoot the collapsing economy of Sri Lanka, all migrant workers who are resorting to foreign remittances equivalent to Rs. 20,000 or more will be entitled to an incentive of Rs. 1,000 as a reimbursement.
The announcement was made by the Central Bank of Sri Lanka (CBSL) yesterday (11).
The incentive applies for remittances received to accounts maintaining Sri Lankan Rupees in local banks over the counter cash receipts, the CBSL noted.
The offer can be obtained from a licenced bank or foreign remittance agent in Sri Lanka, it added.
MIAP
Sri Lanka’s trade deficit contracted in September 2022 as import expenditure declined, year-on-year, for the seventh consecutive month, while earnings from exports remained robust, the Central Bank reported in its External Sector Performance review revealed.
Merchandise trade deficit declined to US$ 206 million in September 2022, compared to US$ 492 million in September 2021. The cumulative deficit in the trade account during January to September 2022 contracted to US$ 4.104 billion from US$ 5.999 billion recorded over the same period in 2021.
Earnings from exports remained robust in September 2022, while import expenditure declined for the seventh consecutive month, on a year-on-year basis, reflecting the significant reduction in imports of non-food consumer goods and investment goods.
As a result, the merchandise trade deficit recorded a notable contraction in September 2022, (y-o-y). Workers’ remittances increased marginally in September 2022, (y-o-y).
Earnings from tourism recorded an increase in September 2022, compared to the same period in 2021. Foreign investment in the government securities market and the Colombo Stock Exchange (CSE) recorded a notable net inflow during September 2022.
The Central Bank continued to provide forex liquidity to finance essential imports, exhausting the liquid level of gross official reserves. Meanwhile, the weighted average spot exchange rate in the interbank market remained around Rs. 362 per US dollar during the month.
The balance in the merchandise trade account recorded a deficit of US dollars 206 million in September 2022, compared to the deficit of US dollars 492 million recorded in September 2021 and US dollars 261 million recorded in August 2022.
Meanwhile, the cumulative deficit in the trade account during January-September 2022 narrowed to US dollars 4,104 million from US dollars 5,999 million recorded over the same period in 2021.
Earnings from merchandise exports grew by 4.3 per cent in September 2022, over September 2021, to US dollars 1,079 million. However, merchandise exports in September 2022 recorded a decline compared to August 2022 (US dollars 1,224 million).
An increase in earnings was observed in industrial and agricultural exports, while a marginal decline was recorded in mineral exports. Cumulative export earnings during January-September 2022 increased by 11.7 per cent over the same period in the last year, amounting to US dollars 9,981 million, which was mainly driven by the improvements in industrial export
Expenditure on merchandise imports declined by 15.8 per cent to US dollars 1,284 million in September 2022, compared to US dollars 1,526 million in September 2021 and US dollars 1,486 million in August 2022. A decline in import expenditure was observed in investment goods and non food consumer goods, mainly resulted from the measures to compress imports.
However, an increase was recorded in imports of intermediate goods and food and beverages.
On a cumulative basis, import expenditure from January to September 2022 amounted to US dollars 14,085 million, compared to US dollars 14,938 million recorded in the corresponding period in 2021.
The Fort Magistrate Court ordered the Police to collect a statement from ex President Gotabaya Rajapaksa in connection with the near Rs. 18 million money sack recovered by anti-government protesters during the acquisition of the President’s House during the July uprising.
Those who recovered the said amount of money from the President’s House handed them over to the Fort Police Station. The amount was said to be Rs. 17.8 million in cash.
The order was issued by Colombo Fort Magistrate Thilina Gamage yesterday (11), and it was also ordered to conduct a probe into the matter.
MIAP
The National Council Sub-Committee on identifying short and medium-term programmes related to National Policy is looking into establishing an integrated mechanism for all government services, said Committee Chief MP Namal Rajapaksa.
The MP mentioned regarding the formulation of policies to establish Key Performance Indicators (KPIs) for the public service when the aforesaid Committee met in Parliament recently (08).
The chairman whilst commenting on the legal obstacles regarding the integration of the services related to the government service of the country, also said that when considering the key performance indicators that are currently in operation, there are differences inherent in each institution.
Rajapaksa stated that there is the challenge of creating a key performance indicator that can be applied equally to all public services and it is the intention of his committee to submit and approve the national policy proposals related to building a more efficient public service when providing services to the public through the National Council.
The chairman also mentioned that the opinions, suggestions and support of all the island wide service providers are expected to successfully accomplish the task. The officials present mentioned that in addition to preparing the key performance indicators, changes should also be made in the existing organisational structure of the government mechanism.
Thus, the officials also pointed out the need to restructure according to the needs of the ministries and institutions under those respective ministries. The chairman mentioned that while maintaining 20 ministries precisely, the remaining 10 ministries are expected to be implemented flexibly. The Chairman also emphasised that the expectation of the sub-committee is to prepare the necessary background for the purpose of establishing the institutions belonging to the particular 20 ministries, the required number of state ministers and the departments under those state ministers by the constitution itself.
The Sri Lanka Accountants Service pointed out that there is no government agency to manage the sea area belonging to Sri Lanka, which is five hundred thousand square kilometers and further stated that the main reason for the failure of the state mechanism is because there is no concept in relation to the set goal of the country. A Sri Lanka Accountants’ Service suggested to the committee that it is appropriate to set up a joint mechanism for public service based on the concept of Sri Lanka being the first developed state in South Asia.
MPs Johnston Fernando, Pavithradevi Wanniarachchi, Wajira Abeywardana, M. Rameshwaran and representatives of the Government Medical Officers’ Association, Sri Lanka Administrative Service Association, Sri Lanka Government Ayurveda Medical Officer’s Association, Sri Lanka Education Administrative Service, Sri Lanka Accountant Service, Association of Public Service Engineers, Sri Lanka Planning Services Association, Government Surveyors Association, Government Veterinary Officers Association, Sri Lanka Agricultural Services Graduate Association, Government Scientific Officers Association, Sri Lanka Architectural Services Association attended the occasion.
The people have placed great faith in the government led by the President in finding solutions to the problems facing the country, said Senior Advisor to the President on National Security and Chief of Staff to the President Sagala Ratnayake.
Senior Adviser to the President on National Security and Chief of Staff to the President Sagala Ratnayake said that the people have great faith in the government led by the President in finding solutions to the problems that have arisen in the country including the economic crisis.
He said this during a special nutrition program held recently at St. Joseph’s College, Grandpass.
Mr Ratnayake said that due to the economic crisis in the country, the low-income oppressed segments of society have increased and the government has paid special attention to such programs to protect the nutritional status of such children.
He pointed out that the food security and nutrition assurance program, which was initiated recently under the guidance of the President, is a great strength. He added that he appreciates such nutrition programs carried out at a personal level.
Mr Ratnayake said that according to the program implemented by the President, this country can be transformed into a developed country in the future, but that requires a certain period.
He further said that to lead the country towards development through a proper vision, a firm policy framework must be prepared, adding that the President will work to legislate it as required and move it forward.
Colombo Deputy Mayor Mohammad Iqbal, Municipal Councilors M. Sarafdeen, Khalil Rahman, A.R.M. Safan and St. Joseph’s College Principal Prasad Samaratunga were present on this occasion.
Seven newly appointed Ambassadors and a High Commissioner to Sri Lanka presented their credentials to President Ranil Wickremesinghe at the Presidential Secretariat this morning (11).
Accordingly, His Excellency Mr. Federico Salas Lotfe, the Mexican Ambassador to Sri Lanka, His Excellency Mr. Rinchen Kuentsyl, the Bhutan Ambassador to Sri Lanka, His Excellency Mr. Fleming Raul Duarte, the Paraguay Ambassador to Sri Lanka, Her Excellency Peggy Frantzen, the Luxembourg Ambassador to Sri Lanka, His Excellency Mr. Levan Dzhagaryan, the Russian Ambassador to Sri Lanka, His Excellency Mr. Ahmed Ali Saeed Al Rashdi, the Oman Ambassador to Sri Lank, His Excellency Mr. Jean- Francois Pactet, the French Ambassador to Sri Lanka and His Excellency Mr. Kwaku Asomah Cheremeh the High Commissioner of Ghana to Sri Lanka who assumed duties recently met the President today.
Showers or thundershowers will occur in Western, Sabaragamuwa, Central, North-Western and Eastern provinces and in Galle and Matara districts during the afternoon or night, said the Department of Meteorology in a statement today (12).
Showers will occur in Western and North-Western provinces and in Galle and Matara districts during the morning too.
Fairly heavy showers about 75 mm can be expected at some places in Uva province and in Ampara district.
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 over sea areas around the island during afternoon or night. |
| Winds: |
| Winds will be south-westerly or variable in direction. Wind speed will be (20-30) kmph. Wind speed may increase up to (40-45) kmph at times in the sea areas off the coast extending from Hambanthota to Pottuvil. |
| State of Sea: |
| The sea areas off the coast extending fromHambanthota to Pottuvil will be fairly rough at times. The other sea areas around the island will be slight to moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers. |
MIAP
