The Prime Minister will deliver a special statement today (29) at 6.45pm. The statement will focus on the 21st Amendment and the strengthening of Parliamentary Committees.
Prime Minister’s Media Division
29/05/2022
Crude oil price surges after three months
The crude oil price in the global market is once again indicating a surge, marking the highest price after three months.
The price of a barrel of Brent crude oil has reportedly exceeded US$ 119 and a barrel of WTI crude oil, over US$ 115.
Last time, the price of a crude oil barrel was less than US$ 110.
MIAP
SLPP heart-rending for Party Founder over 21A, says it won’t back any amendments that aim individuals
A group of SLPP MPs have concluded that they will not back any constitutional amendments that aim individual. The conclusion has been backed by over 80 Ruling Party MPs, reports said.
The decision comes in following many rounds of discussions for the proposed 21st Amendment to the Constitution.
In addition to the restriction of the President’s powers, the 21A proposes the prevention of allowing any dual citizens to enter Parliament, which according to a majority of SLPP MP is a clause targeting Basil Rajapaksa, the Party Founder.
Therefore, these MPs are of the view that they will not back such an amendment.
They further noted that Ranil Wickremesinghe was appointed as the Prime Minister not to adopt constitutional amendments but to provide solutions to the problems faced by the people.
MIAP
Mahinda, Namal and several others summoned to HRCSL over May 09 assault
Former Prime Minister Mahinda Rajapaksa, former Minister Namal Rajapaksa and several other government figures have been summoned to the Human Rights Commission of Sri Lanka (HRCSL) in connection with the investigations into the May 09 assault, where a group of pro-Rajapaksa protesters brutally attacked the then 30-day peaceful protest held in GalleFace.
Former Ministers Rohitha Abeygunawardena and Johnston Fernando and Minister Ramesh Pathirana have also been summoned to appear in the HRCSL next Wednesday.
Meanwhile, Inspector General of Police (IGP) C.D. Wickramaratne and Senior Deputy Inspector General of Police in (SDIG) in charge of the Western Province Deshabandu Thennakoon have also been summoned to appear in the HRCSL next Thursday.
MIAP
PM Wickremesinghe to appoint a high-powered committee to stabilise economy
Prime Minister Ranil Wickremesinghe is set to appoint a high-powered committee in a move to implement solutions to stabilise the economy of Sri Lanka, a report by Sunday Times revealed.
The Committee is set to operate under the purview of the Finance and Economic Stabilisation Ministry, which is headed by Wickremesinghe in his capacity as the Finance Minister, according to the report.
The Economic Stabilising Committee will be chaired by former Treasury Secretary Dr. R.H.S. Samaratunga and will comprise of Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, Secretary to the Treasury Mahinda Siriwardena, Dr. Sharmini Cooray former Capacity Development Director of the IMF, former Governor of the CBSL Dr. Indrajith Coomarswamy and Shantha Daniel.
MIAP
A General Election in the first quarter of 2023?
A general election is expected to be held in the first quarter of 2023, most likely in March, sources said.
As of February next year, the President will be given the power to dissolve Parliament and he is likely to do so upon being given the power.
A number of parties are of the argument that the people should be empowered to dissolve Parliament and elect a new one, but the President will not be given the power to dissolve Parliament until the completion of a period of two and a half years since the current Parliament convened.
Meanwhile, sources further claimed that the Sri Lanka Podujana Peramuna (SLPP) is preparing to regain power before any Parliament dissolution, and the current Prime Minister Ranil Wickremesinghe is likely to be ousted before the end of this year in a move to form a single SLPP-led government once again, ignoring the islandwide protests demanding the stepping down of the corrupt regime.
MIAP
SL’s first and largest pharmaceutical facility begins commercial production
Sri Lanka’s first and largest general oral solid and liquid dosage pharmaceutical manufacturing facility with state-of the-art WHO GMP and EU GMP compliance has commenced its commercial production at Pitipana in Homagama recently. ,
Morison Ltd., one of the pioneers of pharmaceutical manufacturing in Sri Lanka since 1959, announced the commencement of commercial production at its state-of the-art factory unveiled in late 2020.
The factory marked the launch of commercial production by manufacturing and releasing its 1st commercial batches of Chlorphenamine Oral Solution and Paracetamol 500mg tablets to the market on the 26th of May.
Marking a new era in the pharmaceutical manufacturing industry in Sri Lanka, with a commitment to increase access of high quality yet affordable medicines, Morison’s investment of Rs 4 billion in its new state-of-the-art pharmaceutical research and manufacturing facility, is the highest investment to date in the local pharma manufacturing industry, company officials said.
The facility, the first general oral solid and liquid dosage manufacturing plant in Sri Lanka, built as per European Union-Good Manufacturing Practice (EU-GMP) specifications and Quality Management Systems, has a capacity to manufacture over 5 Bn tablets and 2 Mn litres of liquid during two shifts, which can cater up to 40% of the national demand.
Dinesh Athapaththu, Managing Director of Morison Limited said that . “With the launch of commercial production at the new facility, Morison continues its 60-year long mission to offer the highest quality products at affordable prices to Sri Lankans.
Living up to its purpose, Morison recently launched the 1st locally manufactured SGLT-2, a new generation Diabetes molecule – Empagliflozin at a cost that is approximately 50% lesser than the prevailing market prices. According to the company, it is also working on a new product pipeline which will include some of the latest therapies predominantly in diabetic, cardiovascular and vitamin segments.
Further, leveraging the long-lasting relationships of the Hemas Group, Morison has signed up for contract manufacturing arrangements with a few leading regional pharmaceutical companies, which will be operationalized during the year.
Morison is hopeful that it can make a step change in the pharma manufacturing industry in Sri Lanka while helping to save much needed forex at this juncture and eventually build an export business.
Agriculture Minister urges people to grow crops amidst absence of dollars and food items
The Ministry of Agriculture was assumed under very unfortunate circumstances and the situation became quite clear after the duties were assumed said Minister Mahinda Amaraweera.
Although his predecessor had promised to take steps to import 65,000 metric tonnes of chemical fertiliser, not even a hundredweight of fertiliser was imported to date, Amaraweera revealed, adding that despite the farming community’s expectation of receiving chemical fertiliser, it is not possible to predict a date of supply.
As the country’s situation goes as such, the world is facing a food crisis endangering the importation of food items, the Agriculture Minister reminded. Many countries of the world are facing economic difficulties and the food imports, therefore, have been limited, he added.
The backdrop of dollar absence and declining food imports may push the people to grow their own crops, Amaraweera warned.
MIAP
LITRO urges public not to queue up for gas today
The LITRO Gas company urged the public not to queue up for gas for there will be no gas distribution today (29) as well.
Stocks have run out in the market for the last six days and the public may have to wait for at least two more days for gas.
Meanwhile, the Public Utilities Commission of Sri Lanka (PUCSL) announced that there will be no power cuts today, due to the G.C.E Ordinary Level examination.
Nevertheless, power cuts are likely to continue from tomorrow.
MIAP
SL Apparel sector to achieve a target of US$ 6 billion this year
Sri Lanka’s Apparel industry has re-affirmed its resilience in achiving an export target of US$ 6 billion this year despite global economic recession and resulting softening of international consumer demand,
The Joint Apparel Association Forum (JAAF) has urged the new administration for systemic economic and political reforms to restore stability, and rebuild trust and confidence in the nation – locally and globally.
Highlighting the impact of the ongoing volatility on the sector, JAAF noted that Sri Lanka’s apparel sector had continued to display outstanding resilience by continuing to fulfill all existing orders and production schedules in the face of unprecedented adversity.
However, at a time when global consumer sentiment is expected to weaken and many in the industry bracing for a potential reduction in orders by as much as 20% in the next season’s orders (June to August).,
The association warned of serious negative consequences if policy makers continued to delay on the sweeping reforms needed to put Sri Lanka back on track.
Accordingly, JAAF called on the new administration to immediately commence discussions to introduce credible policy with industry experts towards rapid development of a practical, apolitical Roadmap for Sri Lanka’s Economic Recovery.
Secretary General of JAAF Yohan Lawrence stressed that the need of the hour is to ensure that Sri Lanka continues to maintain the confidence of its buyers by remaining resilient amidst the coming global economic crisis.
Earnings from textiles and garments increased by 10.8% in the first quarter to $ 1.5 billion from $ 1.33 billion in 2021. In March earnings however fell by 0.6% to $ 464 million from $ 467 million compared to the same period a year earlier, as per the latest external sector performance report of the Central Bank.
Exports of apparel and textiles increased to $ 445.79 million, up by 22.12% YoY in April, the provisional data released by the Export Development Board (EDB) showed.
Sri Lanka’s apparel sector contributes 6% to the country’s GDP and accounts for 40% of all exports. The sector provides direct employment to 350,000 workers and an additional 700,000 who receive livelihood opportunities as part of the greater supply chain.
The industry’s 2030 vision is to transform Sri Lanka into a global apparel hub, whilst the intermediate goal is to increase annual export earnings to $ 8 billion by 2025.
“Owing to unprecedented national economic mismanagement, this sector, which has long served as a fundamental pillar to the Sri Lankan economy, is now under serious threat, Mr Yohan Lawrence said adding that any plan for economic revival must prioritize support to apparel manufacturers large and small,..
Over the course of 2021, Sri Lanka’s apparel sector increased its earnings by 22.9% Year-on-Year (YoY) generating US$5.42 billion in export earnings, and accounting for almost half of all merchandise exports, in addition to providing gainful employment for a workforce of approximately 1 million (direct and indirect).
Moving forward, Lawrence noted that the apparel sector’s most urgent need was a stable energy supply to ensure operational continuity.
“Large Sri Lankan apparel manufacturers have been among the most effective adopters of renewable energy technology, particularly solar energy. Together with other optimizations in energy consumption, these proactive measures have mitigated some of the worst disruptions to production, he pointed out.
“In addition to economic reforms, JAAF also reiterated the demand from the Joint Chambers calling for the abolition of the 20th Amendment to the constitution as a first step to driving systemic reform of Sri Lanka’s political culture.
“.Without this systemic change, we cannot achieve the stability necessary to navigate our way out of the current crisis,” Lawrence stated.