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Sri Lanka’s National Consumer Price Index Drops Slightly in March 2023

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The Department of Census and Statistics (DCS) has reported that the National Consumer Price Index (NCPI) for Sri Lanka in March 2023 stood at 49.2%, based on the year-on-year change. This is a slight decrease compared to February 2023, which recorded a headline inflation of 53.6%.

The report attributes the inflation to the higher price levels that prevailed in both food and non-food groups compared to March 2022.

On a monthly basis, the year-on-year inflation of the food group decreased from 49.0% in February 2023 to 42.3% in March 2023. Similarly, the year-on-year inflation of the non-food group decreased from 57.4% in February 2023 to 54.9% in March 2023.

The contributions to the inflation recorded in March from the food group and non-food group, on a year-on-year basis, were 18.92% and 30.28%, respectively, compared to March 2022.

Despite the slight decrease in inflation, the DCS report suggests that the overall inflation in Sri Lanka remains high, with food and non-food groups still experiencing inflation rates that are considerably higher than the average inflation rates of previous years.

As Sri Lanka continues to grapple with high inflation rates, the government and other stakeholders will need to take measures to stabilize the economy and provide relief to consumers affected by rising prices.

Innocent Victims of Easter Sunday Terror Attacks Seek Justice, Says Archbishop Malcolm Cardinal Ranjith

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On the fourth anniversary of the 2019 Easter Sunday terror attacks, His Eminence, Malcolm Cardinal Ranjith, the Archbishop of Colombo, led a commemoration service at the St. Anthony’s Church in Kochchikade, Sri Lanka. During his speech, he called for justice for the victims of the attacks that claimed the lives of many who had gathered for religious activities and meals at hotels.

Archbishop Ranjith lamented the fact that the current government was protecting those who were responsible for the attacks. He accused both the former and present governments of trying to bury the memories of the attacks and said that there was clear evidence of a political conspiracy behind the incident.

The Archbishop pointed out that former State Intelligence Service (SIS) Chief, Nilantha Jayawardena, had failed to prevent the attacks despite having prior information on possible attacks. He further alleged that the government was protecting Jayawardena, who was currently facing charges related to the Easter Sunday attacks.

Archbishop Ranjith also questioned the need for continuous DNA tests to identify Sara Jasmine, the wife of the Katuwapitiya church bomber, among those killed in the Sainthamarudu blast. He stated that previous DNA tests had revealed that Jasmine was not among those killed in the blast.

The Archbishop’s speech suggested that the true mastermind behind the attacks was still attempting to cover up their links to the incident. He called on the government to ensure that justice was served and that the victims of the attacks received the closure they deserved.

The Easter Sunday terror attacks, which took place on April 21, 2019, claimed the lives of 269 people and injured more than 500. The attacks were carried out by a local extremist group affiliated with the Islamic State (IS).

Vietnamese Fishing Vessel Carrying Sri Lankans Rescued in Vietnam Seas

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On 7th November 2022, a Vietnamese-flagged fishing vessel carrying 303 Sri Lankan nationals was reported to be in distress in Vietnam Seas. The Sri Lanka Navy’s Maritime Rescue Coordination Centre (MRCC) stationed at the Navy Headquarters coordinated the rescue operation, and the group was temporarily settled in Vietnam upon rescue.

Following the rescue operation, 151 of the Sri Lankan nationals were deported from Vietnam and arrived at the Bandaranaike International Airport in Katunayake on 28th December 2022. Additionally, 23 more Sri Lankans who were deported subsequently arrived in Katunayake on 19th April.

Upon receiving the distress signal, MRCC Colombo promptly informed MRCC Singapore, MRCC Vietnam, and MRCC Philippine for the rescue of the people in distress at sea within their respective jurisdictions. In a coordinated search and rescue operation, MRCC Singapore and Vietnam deployed MV ‘HELIOS LEADER’ to rescue the group of Sri Lankans. The rescued individuals were taken to Vietnam by a SAR vessel on 9th November and were temporarily settled there.

According to reports, the group of Sri Lankans had flown to Myanmar legally and attempted illegal migration from there with the help of international human smugglers. Among the group deported on 19th April were 15 males and 6 females, aged between 19 and 50, and two individuals below 18 years. They have been identified as residents of Jaffna, Kilinochchi, Vavuniya, Trincomalee, and Batticaloa.

The Department of Immigration and Emigration, along with other relevant authorities, will carry out the legal proceedings into the incident. The MRCC Colombo played a crucial role in coordinating and managing all aspects of the SAR effort within its region and beyond, with the support of similar stakeholders.

Department of Meteorology: Showers Expected in Several Parts of Sri Lanka Today

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The Department of Meteorology in Sri Lanka has announced that several parts of the country will experience showers and thundershowers later today. According to the department’s announcement, the Western, Sabaragamuwa, Southern, Central, and North-central provinces, as well as the Mullaitivu district, will be affected during the afternoon or night.

In addition to these areas, the Western and Southern coastal regions may experience a few showers in the morning. The public has been advised to take necessary precautions to prevent damages caused by temporary localized strong winds and lightning during thundershowers.

The department also announced that there is a possibility of showers or thundershowers occurring in a few places in the sea areas off the coast, extending from Colombo to Hambanthota via Galle, during the night. Wind speeds in these areas will be south-westerly, with a speed of 20-30 kmph. However, wind speed may increase up to 40-45 kmph at times in the sea areas off the coast extending from Kankasanthurai to Puttalam via Mannar.

The sea areas off the coast extending from Kankasanthurai to Puttalam via Mannar are expected to be fairly rough at times, while the other sea areas around the island will be slight to moderate. During thundershowers, there may be temporarily strong gusty winds and very rough seas.

The Department of Meteorology advises the public and fishermen to be vigilant and cautious during these weather conditions.

Monkey business takes a new twist with SL confirmation on China’s request

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By: Staff Writer

Colombo (LNW): In a latest move in monkey business with Chinese diplomatic denial, The Agriculture Ministry Secretary, Gunadasa Samarasinghe, has confirmed China’s request to import 100,000 toque macaque monkeys from the cash-strapped island nation amidst protests from several environmentalists against the deal.

Speaking to Indian media, Samarasinghe said that a privately-owned animal breeding Chinese company, connected to zoological gardens, had made the request to his ministry.

“We will not send the whole 100,000 in one lot. But we considered the request due to crop damages caused by the monkeys in several parts of the country. They will not be taken from conserved areas. The focus will be only in the cultivation areas,” Samarasinghe was quoted as saying by PTI.

Samaraisnghe’s statements come at a time where several environmental organisations and animal rights groups have raised profound concerns about the Sri Lankan government’s decision to export the endangered species to China.

The toque macaque monkey is endemic to Sri Lanka and classified as endangered on the International Union for Conservation of Nature (IUCN) red list, after they were recently removed from the list of protected species on the island.

Sri Lanka removed several species including all three monkey species in the country – namely tufted gray langur, purple-faced leaf monkey and toque macaque – from the protected list,

This was decided by taking into account the fact that monkeys have become a menace as they constantly damage the crops and forage the villages for food. This allows farmers to kill the animals which are not listed as protected.

However, conservationists took issue with the decision to export toque macaques, saying that they are sceptical that these animals are planned to be used for experiments in China as toque macaques show high genetic similarity to humans.

Meanwhile, the Chinese Embassy in Colombo said on Wednesday (19 April) that China’s wildlife authorities have clarified that they are not aware of any such request to export 100,000 toque macaque monkeys from Sri Lanka to a Chinese private company, adding that no such application has been received from any side.

NTB partners with Singer to launch foreign remittance services.

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By: Staff Writer

Colombo (LNW): In a bid to facilitate foreign inward remittance services across ,Sri Lankan Nations Trust Bank partnered with Singer (Sri Lanka) PLC to Launch the countryside initiative to enhance the accessibility and convenience of Lankan migrant workers.

Between the two entities a location network of more than 500 outlets countrywide have been made available to customers to collect their remittance payments.

The partnership offers a significant value addition for Sri Lankans living and working abroad, who can now send money to their loved ones back home with more ease.

The expanded network of payout locations also benefits customers residing outside the main cities, who no longer will need to travel long distances to collect their remittance payments.

Sri Lanka saw a significant increase in remittances so far this year with over US$560 million sent back by migrant workers in March, Minister of Labour and Foreign Employment Manusha Nanayakkara said.

Announcing the monthly remittances received, the Minister said it marked a 78.5 per cent increase from the inflows recorded in March 2022

Sri Lankan migrant workers’ foreign remittances amounted to a total of $844.9 million in the first two months of 2023 recording a total foreign remittance of $ 1404.9 million in1Q 2023.

Singer’s extensive branch network enables customers to receive up to Rs. 200,000 per remittance transaction.

The partnership also enables Nation Trust Bank to serve potential customers through the Bank’s foreign inward remittance partners worldwide, including Ria, Transfast, Small World, iThamor, Al Zaman Exchange, Worldcom Finance, NEC, Brastel, Unigiros, Speed Remit, Srour, Buckzy, EzCash, City Exchange and Musharbash Exchange.

Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through an islandwide network of 96 branches.

The bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience.

Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.

CB takes stern action against Ponzi scammers resorting to Crypto Fraud

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By: Staff Writer

Colombo (LNW):Central Bank has taken action to crack down on Ponzi scammers resorting to Cripto Fraud pilfering billions of rupees from thousands of Sri Lankans

Ponzi scammers are exacerbating the existing economic misery of thousands of Sri Lankans with ambitions earn more money from investments by swindling their savings with fake crypto currency schemes; informed sources divulged

In March Central Bank made public that it received several complaints indicating that entities conduct and/or have conducted scheme/s prohibited in terms of section 83C of the Banking Act No. 30 of 1988.

Therefore, the CBSL began investigations in terms of section 83C of the Banking Act, No. 30 of 1988 to ascertain whether the identified three entities violate and/or have violated the provisions of section 83C of the Banking Act, No. 30 of 1988.

They are ( i) Fast 3Cycle International (Pvt) Ltd (F3C),(ii) Sport Chain App, Sports Chain ZS Society Sri Lanka and (iii) OnmaxDT

Accordingly, the Central Bank requested the Attorney General to consider instituting criminal proceedings in terms of the provisions of this Act.

In a recently filed case , Colombo Chief Magistrate Prasanna Alwis this week ordered eight investment accounts opened in the United States by the directors of OnmaxDT Ltd., an illegal Sri Lankan crypto Ponzi or pyramid scheme to be frozen immediately.

The directors had opened the accounts with US Company Binance.com and invested Rs. 430 million for a period of six months.

Reportedly this is the first time a Sri Lankan court has issued an order to a financial company based in the United States.

Following the order, the CID told the courts the CEO of Binance.com will be informed of the decision via email.

Accounts under the titles of OnmaxDT Ltd (Sri Lanka), Onmax Ltd (Australia), two joint accounts under the names of Dhananjaya Gayan, Sampath Sandaruwan Lenaduwage, Saranga Randika Jayatissa and individual accounts belonging to Vikramapeli Gedera Chandrakanti and Kahadawa Arachchige Athula Indika Sampath will be frozen.

On 28 March the court also issued a travel ban on six directors of OnmaxDT Sampath Sandaruwan, Athula Indika Sampath, Gayashan Abeyratne, Madhuranga Prasanna, Saranga Randika, and Dhananjaya Jayan for their alleged involvement in a pyramid financial fraud of $ 100 million.

On the day the magistrate also ordered the heads of Bank of Ceylon, Central Finance, Nations Trust, Seylan Bank and People’s Trust banks to freeze 57 accounts owned by the suspects.

Charges have been filed against the suspects under Section 83 of the Banking Act and Section 03 of the Money Laundering Act.

The Criminal Investigations Department (CID) has launched an investigation into a similar financial fraud last year which has involved Rs.14 billion with 8,000 people being victims in a fake crypto currency scheme.

Details of this Crypto currency Ponzi (Pyramid) scam have been revealed following a complaint filed in a civil lawsuit by a disgruntled investor Sudath Ranjan Silva at Colombo Chief Magistrate’s Court in October 2022.

More than 1000 Sri Lankans in one district alone reported losing around Rs. 8 billion in investments made in Sports Chain crypto currency platform founded by Zhang Kai, a Chinese and Shamal Bandara, according to documents submitted to Sri Lankan authorities.

A separate complaint was made by several disgruntled investors to the Inspector General of Police claiming that around 8000 persons countrywide including doctors, engineers and teachers have joined in the Sports Chain Society Sri Lanka, an investor of the scheme said.


Import ban on more items to be removed soon: State Finance Minister

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By: Staff Writer

Colombo (LNW): In a move of discarding protectionist policy, the government is set to further ease import restrictions imposed as a remedy to crippling shortage of foreign exchange.

Import restrictions limit local production. They also effect exports, as most of the raw materials required for local production are, in fact, imported.

Since April 2020, import restrictions have been imposed in an arbitrary manner without considering the needs of many domestic industries.

These arbitrary import restriction regulations make it extremely difficult for companies to continue production processes

The last two years have been tough on the economy. It has been even tougher on imports. Many items have been banned.

At that time, supermarkets were running at low key for weeks. Sugar, rice, and flour were rationed while butter, milk powder, and even water was off the shelves.

Shortages were an unfortunate reality, but this wasn’t merely because of supply chain twists. It was also a sign of an indebted, cash-strapped government struggling to pay for imports.

Many of these imports are items which are essential for consumption or for the production process. Much of Sri Lanka’s imports are intermediate and capital goods. This means that such imports are essential to complete the production process.

A vast majority of Sri Lanka’s imports are intermediary goods, ranging from fuel to textiles.

State Finance Minister Ranjith Siyambalapitiya said that measures will be taken to relax the import restrictions imposed on many other goods.

Following a progress review meeting on Sri Lanka Customs revenue targets for the year held yesterday, he pointed out that the move will also help the Department to achieve the expected income.

The revenue target set for Sri Lanka Customs for the first quarter of the year is Rs. 270 billion, however Siyambalapitiya noted that the revenue collection during the timeline was 12% lower than the anticipated income.

He claimed the main cause for the loss of revenue was the import restrictions imposed by the Government.

“A total of 485 items were subjected to the relevant import restrictions in 2021, while another 750 items were restricted in 2022,” Siyambalapitiya said, adding that the Customs Department was unable to meet the anticipated income goals as a result of the Rupee’s appreciation in March.

Against this backdrop, the State Minister said the relevant import restrictions will be relaxed in the near future with much consideration.

“The decision to relax import restrictions will be considered based on the recommendations provided by the Economic Research Department of the Central Bank of Sri Lanka,” he added.

Department of Samurdhi Development and Sri Lanka Police called before COPA

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The Chair of the Committee on Public Accounts (COPA) Sate Minister Hon. Lasantha Alagiyawanna stated that Department of Samurdhi Development and Sri Lanka Police have been called before COPA during the next sitting week.

Accordingly, next Tuesday, the 25 th , the Department of Samurdhi Development has been called before the Committee on Public Accounts and it is scheduled to look into matters based on the reports of the Auditor General related to the previous years and the current performance. Moreover, the COPA Chair said that the Sri Lanka Police has been summoned before COPA on the 26 th , Wednesday to examine the Auditor General's reports and current performance.

Sri Lanka Original Narrative Summary: 21/04

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  1. Sri Lanka marks four years since the Easter Sunday bombings, a massacre that took place in several tourist hotels and Catholic churches, taking away more than 270 lives: The masterminds behind the genocide are believed to be still at large: Archbishop of Colombo HE Cardinal Malcolm Ranjith invites all Sri Lankans to join a human chain protest (Jana Paura) today, supporting the Church’s quest for truth and justice over the attacks.
  2. The Inland Revenue Department says those with an annual income of over Rs. 1,200,000 are required to pay income tax in Sri Lanka; adds this includes business owners, income from rental or interest-related investments, or employment with the specified annual income; urges the public to settle their accurate income tax payments on time.
  3. The CBSL says investigations are underway into the Rs. 05 million that was reported missing from a safe: A statement by the CBSL reads that it is taking “necessary measures to thoroughly investigate the incident and strengthen the internal controls, processes, etc”; adds it will also continue assisting the Police to carry out its investigations.
  4. The Committee on Parliamentary Business to take up the Resolution for the implementation of the arrangement under the EFF of the IMF for Sri Lanka in to debate on April 26, 27 and 28: The decision made at a Committee meeting held under Chairman (Dep. Speaker) Ajith Rajapakse.
  5. The HRCSL holds a meeting with representatives of the LGBTIQ community, to discuss the well-being of LGBTIQ people and address pressing issues: The representatives present a requested letter to the HRCSL Chief, Justice Rohini Marasinghe, highlighting the issues faced by LGBTIQ people that need to be resolved: The Commission expresses its support to promoting and protecting the rights of LGBTIQ individuals, including advocating for legal reforms, raising awareness, addressing social stigma, and fostering inclusivity.
  6. The Health Ministry informs all hospital directors to immediately suspend the use of Prednisolone eye drops imported from India with immediate effect, following complications being reported after use: The Ministry’s MSD says the delivery of Prednisolone eye drops to hospitals also suspended.
  7. US Ambassador to Sri Lanka Julie Chung expresses concerns over the GOSL’s proposed Anti-Terrorism Bill (ATA) falling outside of international standards; meets with Justice Minister Wijeyadasa Rajapakshe on the matter; says it is important that “all voices – including civil society, academia, and lawmakers – are considered to ensure the legislation servers as an effective tool for combatting terrorism without restricting freedom of expression or assembly.”
  8. Ex President of BASL Geoffrey Alagaratnam PC warns new laws are not going to help Sri Lanka if they are only going to be used against certain targeted persons who are perceived as opponents of the government; says the proposed ATA should be considered a dangerous legislation.
  9. Power and Energy Minister Kanchana Wijesekara says the highest energy demand in Sri Lanka in recent times was recorded Wednesday; adds a net generation of 49.53 GWh was required for power generation on Wednesday; reveals the actual demand recorded Thursday morning forecasts an estimated energy demand exceeding 50 GWh; asserts all CEB thermal plants, including the recently established Hambantota Diesel Powered generators, will be utilised for power generation.
  10. Another consignment of one million eggs imported from India arrives in SL: Chairman of the Sri Lanka State Trading (General) Corporation Asiri Walisundara says the samples will be tested by the Animal Products and Health Department; adds a report on the samples of the egg stock that reached the island on April 15 expected to be released in four days.