By: Staff Writer

Colombo (LNW): Sri Lanka’s Abans Auto Company affiliated to the prestigious Abans Group headed by  Rusi Pestonjee has taken a bold initiative in a situation of economic crisis to market the Hyundai Grand i10 car assembled in the country at its state-of-the-art factory in Seeduwa.

Hyundai Motor Company, the world’s sixth largest automobile manufacturer and a leader in future mobility has joined hands with Abans Auto, authorizing the reputed local automotive retailer to assemble and manufacture Hyundai automobiles and components under license in Sri Lanka.

The launching ceremony of the Hyundai Grand i10 car, assembled for the first time in Sri Lanka in collaboration with Hyundai Motor Company of Korea was held at the Colombo City Centre on Friday (10) under the patronage of President Ranil Wickremasinghe.

Addressing the gathering President Ranil Wickremesinghe said that the belief the country’s economy would reinvigorate soon is confirmed by introducing such a brand new vehicle to the market at a critical moment such as this.

The positive confidence the foreign countries have placed in the country is obvious by introducing the locally assembled Hyundai Grand i10 vehicle to the market, he opined.

President Wickremesinghe further said that this was a huge step in the domestic vehicle assembling industry and vehicle spare parts manufacturing industry.

Assembling the Hyundai Grand i10 in Sri Lanka is a tribute to the firm determination of Mrs. Pestanjee, he disclosed, adding that he knew how she initiated this journey when the economy was opened up in 1977.

He reminded that there was an Abans Showroom on the fifth lane heading towards Galle Road at that time thanking her very much for having come this far from that point.

He expressed the  hope that this step will be a good start for the arrival of other investors to Sri Lanka based on the cooperation between South Korea and Sri Lanka as well as the higher investment made by Korea here.

The introduction of this vehicle takes place at a time when Sri Lanka’s economy collapsed. But the initiation was taken with the belief that the economy of the country would recover.

Sri Lanka stepped into 2023 in the background of the complete collapse of the country’s economy last year. But now the country’s economy is recovering.

Accordingly, it has been possible to provide solutions to the shortage of fuel, LP gas, and essential goods. In the same way, we have solved many other problems as well.

The government has taken numerous steps to strengthen the country’s economy. It has been possible to reach an agreement with the IMF organization. Negotiations with the Paris Club, India, and China are currently underway. It is attempting to reconcile their differences.

As a consequence, there is no doubt that a group of consumers in the country will be able to purchase cars again in the months ahead and there will be more economic progress than today.

1. College of Anaesthesiologists and Intensivists President Dr Anoma Perera says the health sector will face a serious crisis soon if shortages of medicines, surgical equipment and chemicals used in labs, are not addressed now: laments most essential drugs used by anesthesiologists have run out.
   
2. CB Governor Dr Nandalal Weerasinghe says inflation is “likely” to come down below 10% by end-2023: in May’22, Weerasinghe asserted the economy will stabilise in Aug’22: Weerasinghe has maintained very high interest rates and followed a fixed exchange rate policy since 12May’22: he has also been a key figure in the “sovereign debt default” of 12Apr’22 which was announced in less than a week since taking office.
   
3. Central Bank says Workers’ Remittances have increased by 68.8% to USD 437 mn in Jan’23 compared to USD 259 mn in Jan’22.
   
4. Naval operation underway to return 14 Pilot Whales that beached themselves along the coastline of Kalpitiya, back to deeper waters: however, Navy says 3 whales have died.
   
5. President Ranil Wickremasinghe vests the Jaffna Cultural Centre built on a grant by India, to the people: ceremony conducted in the presence of Indian State Fisheries Minister Dr L Murugan: MP Selvarajah Kajendren and 17 others arrested for entering a high security zone in Jaffna while staging a protest in violation of a Court order.
   
6. Minister of Ports, Shipping and Aviation Nimal Siripala de Silva lauds President Ranil Wickremesinghe’s Policy statement: says the President spoke the truth and analysed the political and economic situation in the country correctly departing from traditional politics.
   
7. Ministers Wijeydasa Rajapakshe and Ali Sabri who are members of the Cabinet Sub-committee on Coal Procurement, resign as Subcommittee members: reason attributed is that “officials involved in coal procurement have not only distorted the facts in the latest coal procurement deal of 720,000 10%± MT of Coal for the Lakvijaya Power Plant in Puttalam, from Jan’23 to the end of Apr’23, but have also failed to omit the condition that they agreed to with the coal supplier M/s Global PT Arista Mitra Jaya of Indonesia”.
   
8. Cardinal Malcolm Ranjith says the root cause for Sri Lanka’s situation at present is the moral collapse, and not just economic collapse: laments people have lost all sense of justice: blames the introduction of the “open economy” as the reason the country became a largely dependent economy.
   
9. Govt, with the support of the Ceylon Tea Exporters donates a consignment of “Ceylon Tea” to the Ambassador of Türkiye in Colombo to be delivered to the victims of the devastating earthquakes in Türkiye.
   
10. Treasury decides to scrap the entertainment allowance given to district secretaries, additional district secretaries and divisional secretaries: decision said to follow numerous complaints of misuse of the allowances of Rs.15,000 to a district secretary and Rs.10,000 to an additional district secretary covering bills incurred for tea, coffee and snacks.

President Ranil Wickremesinghe attended the “Art of Sri Lanka” art exhibition on yesterday (09), in line with the country’s 75th National Independence Celebrations.

The “Art of Sri Lanka” art exhibition organized on the instructions of President Wickremesinghe was inaugurated on the Independence Day (04) under the patronage of Mr. Poj Harnpol, the Thai Ambassador to Sri Lanka.

The art exhibition, which highlights the pride of Sri Lanka, was put together by veteran artist H. S. Sarath and featured contributions from new and talented artists. A large number of painters of all ages from around the country submitted their paintings for this exhibition, including those involved in the ‘Aragalaya’.

During his visit, President Wickremesinghe inquired about the artists who participated in the exhibition and was presented with several paintings, including a portrait of him. The artists requested that the President organize similar exhibitions at least once every three years and aim to target the tourism industry.

The “Art of Sri Lanka” art exhibition will be held from 10.00 am to 5.00 pm today (10th) at the JDA Perera Gallery at the University of the Visual and Performing Arts in Colombo 7.

The exhibition is a celebration of the country’s independence and the rich artistic heritage of Sri Lanka, and highlights the importance of supporting artists and preserving the country’s cultural heritage.

The delegation led by the former Secretary-General of the United Nations, the President of the Assembly and the Chair of the Council of the Global Green Growth Institute (GGGI) H.E Ban Ki-moon, who arrived in Sri Lanka recently (06), met with Hon. Mahinda Yapa Abeywardana, the Speaker of Parliament, Feb (07).

He was received by Deputy Speaker Hon. Ajith Rajapakse and Secretary General of Parliament Mr. Dhammika Dasanayake.

As President of the Assembly and Chair of the Council of the Global Green Growth Institute (GGGI), H. E Ban Ki-moon focused on green growth, sustainable development and advocate the need for innovative partnerships to transition into low-carbon, sustainable, and inclusive economies. During the cordial discussions held, H.E Ban Ki-moon emphasized the need to develop political ambition pertaining to adopting the green growth model of development and was of the view that the voice for such initiative should arise from within Parliament.

Whilst mentioning the requirement and need of broader awareness and capacity building among Members of Parliament, officials on the subject, the Hon. Speaker pledged his full cooperation towards achieving the said goal in fellowship.

Following the cordial discussion held, the delegation led by H.E Ban Ki-moon including H.E. Woonjin Jeong, Ambassador of the Republic of Korea to Sri Lanka, Dr. Frank Rijsberman, GGGI Director General toured the chamber of Parliament.

Hon. Ajith Rajapakse, Deputy Speaker of Parliament, Hon. Naseer Ahamed, Minister of Environment, Mr. Dinesh Weerakkody, Chief Advisor to the President and the Secretary General of Parliament Mr. Dhammika Dasanayake were present at the meeting held with H.E Ban Ki-moon, in Parliament.

Another minor earthquake has been reported in the vicinity of Wellawaya – Buttala town today (11) at around 03.48 am.

The Disaster Management Center stated that it was recorded as a value of 2.3 on the Richter scale.

Two minor earthquakes were reported in Palwatta area yesterday.