At a time when fuel prices have been spiraling, even transport, on highway net work , is to become more expensive for local motorists.
According to finance ministry sources the the Road Development Authority will be increasing the toll tax on highways by 50 percent to increase revenue and meet the high road maintenance cost
Revised rates is to be applicable for all types of vehicles plying on national highways and the toll fee will be hiked depending on the type of vehicle
With the new prices coming into effect, there will be a significant increase in revenue from toll collection, the officials said. The new rates will be applicable for single and double trips
Cash strapped government is to introduce steep hike in toll charge with the increase in traffic volume and number of vehicles using the express way net work with a view of raising revenue, Finance Ministry sources divulged.
The Road Development Authority (RDA) will raise the toll charge at least by 50 percent due the current economic situation and the increase in road maintenance costs, a senior official of the ministry said.
The aim is to collect Rs 12 billion in revenue from toll charges from the present Rs 8 billion per annum he added.
The government is compelled to introduce a steep hike in toll charges in accordance with the present programme of raising state revenue to meet the essential recurrent and capital expenditure, he revealed.
Total traffic through the country’s express network for the country was over 38.6 million where monthly traffic volume usage was 3.22 million and on average over 107000 vehicles used the express way net work daily, Finance Ministry data and RDA records showed.
Meanwhile the Lanka QR mobile payment app for toll payments at expressway is still to be implemented as a pilot project at the Kottawa Interchange of the Southern Expressway.
This Lanka QR mobile payment application has been proposed instead of Manual Toll Collection (MTC) at the expressway exit gates.
With the rapid growth of the traffic density, even the expressways are eventually getting congested especially near the toll gates.
As a result, the government took the initiative of introducing this electronic payment mechanisms very recently but only one prepaid payment option been considered under their new implementation plans.
This is of marginal benefit as the users do not have a liberty to make a choice. Therefore to check the user preference on electronic toll collection methods, five widely implemented methods been considered which were subsequently divided into pre paid and post paid.
Sri Lanka Highway travel to get expensive with toll fee hike on the way
The second monkeypox patient reported from Sri Lanka!
The health department says that a second case of Monkeypox has been reported from Sri Lanka.
He is also a person who came to this country from the state of Dubai and it is said that he has been hospitalized.
The first case of monkey fever in Sri Lanka was reported on November 4.
A statement from the state minister about diesel prices…
State Minister for Power and Energy D.V. Chanaka says that according to the current price, the government will incur a loss of 12 rupees per liter of diesel.
The Minister of State stated this while replying to the questions raised by Jana Balavegaya Member of Parliament Hesha Withanage regarding the fuel price formula in Parliament today (09).
President’s vision for the country includes measures exceeding IMF/WB stipulations – Sagala Ratnayake
Sagala Ratnayake, President’s Senior Adviser on National Security and Head of Presidential Staff, said that Ranil Wickramasinghe’s vision for building the country is exceeding IMF/WB stipulations.
Sagala Ratnayake expressed these views yesterday (08) in the morning of the President’s Office during the meeting between government officials and World Bank members to start the World Bank Budget Support and Development Policy Operation (DPO).
Pointing out that this is the best opportunity to stabilize the country economically, establish a strong policy framework and go to the required road map, Ratnayake said that we as a country have that ability and we request everyone to make the most of it.
Ratnayake also pointed out the importance of getting the final report related to the preparation of the policy framework at the end of the next two weeks, preparation of the road map and everyone’s commitment according to the time frame.
Minister of State for Finance Shehan Semasinghe mentioned that President Ranil Wickremesinghe is committed to stabilizing the country’s economy and for that the President has taken very difficult decisions.
Faris Hadad-Zervos, Director of the World Bank for Maldives, Nepal and Sri Lanka, said that he is amazed at the active policy and vision of President Ranil Wickremesinghe for the country and the World Bank is working to support it.
The objectives of this discussion are to achieve a specific set of development outcomes through development policy operations that provide direct budgetary support to governments for policy and institutional restructuring.
These operations have been planned under three points namely, provision of rapid financial assistance, transformation of financial governance, and enhancement of competitiveness to enable it to deal with expected development finance needs.
Debt management and transparency, financial supervision, improving tax administration policy, public procurement transparency as well as increasing the value of money, delinking the sovereign financial sector and reducing systemic risk were discussed at length.
Reform and improve oversight of state-owned enterprises, reduce anti-export bias in national tariff policy, remove barriers to foreign investment, reduce energy and transport sector dependence on imported fuels, make more climate-friendly, social security institutions, distribution Strengthening and targeting of the system were also discussed.
Minister of State for Social Empowerment Women and Child Affairs Anupa Paskuwal, President’s Secretary Saman Ekanayake, World Bank Local Manager Chio Kanda and members of the World Bank team and officials of line agencies attended the event.
SL President expresses the need of wiping out mal-effects of self- declared Bankruptcy
Sri Lanka is now severely feeling the pinch of controversial declaration of preemptive debt default hinting the country’s bankruptcy made by the Central Bank Governor Nandalal Weerasinghe on April 12 as the finance ministry engagement of creditors debt on restructuring process dragging on without any positive results.
The Central Bank’ monetary board is currently compelled to reconsider the revising of present extremely high interest rates which are unsustainable and a threat to all businesses in every industry, especially considering the many difficulties of operating businesses during this economic crisis, several eminent economists said.
President Ranil Wickremasinghe is now bravely facing the repercussions of the decisions taken by the Central Bank in accordance with its Monetary Board consent.
President Wickremasinghe shouldering the gigantic task of correcting the wrong ill advice and back firing actions of high handed arrogant officials’ who misled all previous regimes in collaboration with corrupt ministers in those regimes.
However this not the time of blaming and shaming for past deeds as the the government has an urgent responsibility to tackle the the man made economic crisis and direct the ill-fated economy towards a corrective path, patriotic group of government officials claimed.
Expressing his concerns about the need to ensure sufficient steps to wipe out the mal-effects arising out of the self- declared Label of Bankruptcy, the President who is also the country’s Finance Minister has already spelled out his package of plans to resolve the current issues according priority to conserve foreign exchange and limit imports emphasizing that it did not work initially but ok now.
He also stated that as the revenue is dried up, measures have to be taken to increase revenue and this too is in the scope of the plans envisaged.
The controversial “debt default” announcement on 12 April 2022 pushed the country into default, and it is seriously suspicious as to why that was done when the “pipeline of inflows” at that time amounted to $ 10.7 billion without the necessary formal approvals.
Sri Lanka is now facing frightful repercussions of defaulting sovereign forex loans which led to the loss of the credibility and Investors shun that country.
The defaulting country cannot obtain new forex loans thereafter. Access to International Bond Markets is lost.
The banking system is placed under pressure. Banks face serious difficulties when opening letters of credit and doing forex transactions. Forex loans and investments are halted. Local firms doing business overseas face hardships. Most forex-funded infrastructure Projects halted.
Foreign Direct Investors adopt a “wait and see” attitude. Small and medium sized import-based businesses and entrepreneurs face the risk of collapse.
Hundreds of thousands of jobs and livelihoods are in jeopardy. Inflation and interest rates rise. The Government is compelled to sell valuable state assets. Forex creditors institute legal action to recover their dues. The Government incurs huge litigation costs and experiences “black-listing”.
Passport services resumes operations after ‘system breakdown’
The system failure occurred at the Department of Immigration and Emigration temporarily halting passport services has been restored, said the Department.
Accordingly, passport services will recommence as usual from today (09).
The announcement comes in following the Department of Immigration and Emigration’s early announce that there was a delay in the issuance of passports due to a system failure.
MIAP
Sri Lankan Rupee further depreciated against foreign currencies
Central Bank data shows that the Sri Lankan Rupee has further depreciated significantly against foreign currencies.
Selling price per US dollar is Rs. 371.68 remained unchanged, but the data shows that it has suffered a huge collapse compared to the currency units of Australia, Singapore, Canada, United Kingdom, France etc.
Two-hour power cuts scheduled for next three days
PUCSL has approved power cuts of 02 hours from November 09th to November 11th.
Groups ABCDEFGHIJKLPQRSTUVW – One hour during the daytime and one hour during night.
Low-level atmospheric disturbance in South-East expected to develop enhancing rainy conditions further: Met Dept
The Low-level atmospheric disturbance in the South-east of Sri Lanka is expected to develop further and therefore, rainy conditions over most parts of the Island will expect to enhance further, the Department of Meteorology said in a statement today (09).
Showers will occur at times in Eastern, Uva, North and North-Central provinces and in Matale district.
Showers or thundershowers will occur elsewhere during the afternoon or night.
Heavy showers above 100 mm can be expected at some places in Eastern, Uva, Sabaragamuwa, Central and Southern provinces.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
| The Low-level atmospheric disturbance in the South-east of Sri Lanka is expected to develop further during the next 48hours, therefore it is requested to be vigilant in Naval and fishing activities in the sea areas off the coast extending from Hambantota to Kankasanturai via Batticaloa and Trincomalee. |
| Condition of Rain: |
| Showers or thundershowers will occur at times in the sea areas around the island. |
| Winds: |
| Winds will be North-easterly 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 Batticaloa to Puttalam via Trincomalee, Kankasanturai and Mannar. |
| State of Sea: |
| The sea areas off the coast extending from Batticaloa to Puttalam via Trincomalee, Kankasanturai and Mannar will be fairly rough at times. The other sea areas around the island will be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers. |
MIAP
SRI LANKA ORIGINAL NARRATIVE SUMMARY: 09/11
- President Ranil Wickremesinghe addresses COP27: says colonialism transferred rich resources of Asia and Africa to Europe, and used those to industrialise colonising countries: states the countries that were plundered, became poor: asserts “umbrella industrialisation” of developed economies is root cause of climate change.
- NFF Leader and “independent” Opposition MP Wimal Weerawansa says CB Governor Dr. Nandalal Weerasinghe earns salaries from CB and IMF: asserts that creates a major “conflict of interest”.
- Senior Advisor to the President Sagala Ratnayake says World Bank Country Director for Sri Lanka, Faris Hadad-Zervos had been
“amazed” by the action policy and vision of President Ranil Wickremesinghe, and had expressed support for the President’s vision. - Former Minister and SJB MP Dr. Rajitha Senaratne says President Ranil Wickremesinghe has brought the country to a stable level by providing solutions for the immediate problems: SLPP MP Mahindananda Aluthgamage says the President has provided solutions for the
burning problems. - Speaker Mahinda Yapa Abeywardene blames
Opposition for President’s
criticism of Parliament: Speaker’s Media Secretary attributes reasons for such blame, including delay in appointing joint Committees: Chief Opposition Whip Lakshman Kiriella says Opposition would not join Committees until Government discloses agreement with IMF, in Parliament. - International Organisation for Migration says 303 Sri Lankans have been rescued from a distressed vessel and taken to the Port of Vung Tau in Vietnam, 1800 km away from Hanoi.
- Former CB Governor Ajith Nivard Cabraal publishes book titled “ආර්ථික ඝාතකයන් මැද” (“Among Economic Hitmen”): book said to contain “answers to all questions” pertaining to the manner and persons behind the bankruptcy of the country.
- Colombo Additional Magistrate Keminda Perera orders the remand of 2 police officers and a school principal for torturing Grade 5 students at the Millaniya Primary School, Horana.
- Sri Lanka Cricket appoints 3-member panel of Justice Sisira Ratnayake, Attorneys at law Niroshana Perera & Asela Rekawa to inquire into the alleged incident involving Danushka Gunathilaka and a woman introduced to him via an Australian “dating” site.
- UN teams in SL and NGOs extend a “Humanitarian Needs and Priorities” (HNP) Plan that aims to provide life-saving assistance to 3.4 million people amid SL’s worst economic crisis since independence.