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60,000 MT of coal will reach Sri Lanka on Friday; Norochcholai to run on full capacity from Sunday

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Sri Lanka’s Ministry of Power and Energy said that a shipment of 60,000 MT of coal will reach the country on Friday (6).

The Ministry said that another five coal shipments are expected to reach Sri Lankan shores in January and payments for the fives shipments have already been made.

The generator at the Norochcholai Power Plant that was the shutdown for maintenance will be reactivated on Sunday (8), said the Ceylon Electricity Board.

One generator at the Norochcholai Coal Power Plant was shut down on the 22nd of December 2022 citing early maintenance and resulted in the loss of 300 MW to the national power grid.

In the midst of all this, a proposal is made to once again increase the electricity tariff.

According to the country’s Power & Energy Minister the objective of this tariff hike is to cover the cost of providing a continuous supply of electricity.

One of the scenarios presented by the CEB engineers will be used for this purpose, and according to the Minister the generation plan is as follows:

27% from hydro-power
28% from Coal
13% from Diesel and Furnace Oil
2% Wind Power
12% from Private Diesel or Furnace Oil Power Plants.
13% from Solar power plants
4% from rooftop solar panels

The CEB Employees’ Union allege that this is an attempt to reduce the low cost production using coal, and to increase the production that would cost more.

According to them, it only costs Rs. 47/- to generate one unit of electricity using coal.

However, if Diesel is used to generating one unit of electricity, the cost would be north of Rs. 100/-.

The cost to generate one unit of electricity using furnace oil is Rs. 65/-.

Therefore, an additional cost will have to be borne after electricity generation using coal is reduced, and the missing capacity is sourced using fuel and from privately-owned power plants.

One generator at the Norochcholai Coal Power Plant was shut down citing early maintenance, however, the decision came due to the delay in procuring coal.

The electricity capacity that was lost by shutting down the generator is now being sourced from the West Coast Power Plant in Kerawalapitiya which uses Furnace Oil to generate electricity.

If this generator is shut down until the date that a coal shipment is due to arrive in Sri Lanka, the additional cost to provide electricity is a whopping Rs. 3.2 Billion.

The Chairman of the Public Utilities Commission of Sri Lanka Janaka Ratnayake on Thursday (5) said that the PUCSL it is not considering any tariff hike at the moment.

He suggested the Government to look into actual financial data of the Ceylon Electricity Board to improve the cash-flow management.

He also slammed the presentation made to the Cabinet on the proposed electricity tariff hike noting that the presentation was made by new general manager of the Ceylon Electricity Board, an engineer and the Secretary to the Ministry of Power and Energy, completely disregarding the proper procedure.

He said if the cabinet goes ahead with the proposed tariff hike, the PUCSL will use its power to VETO such a decision.

Rashika Hennayake

The President instructs the IGP to immediately start investigations regarding the construction of the fake Dalada Maligawa

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The President instructs the IGP to immediately start investigations regarding the construction of the fake Dalada Maligawa

President Ranil Wickremesinghe has instructed the Inspector General of Police C D Wickramaratne yesterday(05) to immediately start investigations regarding the request made by the Mahanayake Theros of Asgiri and Malwathu chapters and the Diyawadana Nilame of the Dalada Maligawa regarding a fake Dalada Maligawa is being constructed in Wadakada, Kurunegala

Accordingly, the Inspector General of Police said that investigations were commenced immediately under a Deputy Inspector General of Criminal Investigation Department, and two investigation teams under the supervision of an Assistant Superintendent of Police have already gone to the place and has commenced investigations.

According to the letter sent to the President it had mentioned that as stated in the constitution, the government is bound to protect and nurture Buddhism. It also stated that the government should investigate the facts immediately and prevent such acts from the beginning for the sake of the perpetuation and development of Buddhism.

PMD

President asks the Election Commission to reach common ground on the election

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It is reported that four members of the Election Commission met and discussed with President Ranil Wickramasinghe at the Presidential Secretariat yesterday (05) evening.

Political sources stated that the discussion has ended without agreement due to 4 members of the Election Commission.

The President has said that the members of the Election Commission should have four opinions regarding the election of the Commission’s work.

The President has stated here that the independence of the commission has been handed over to the commission.

The President has also said that there is no obstacle to run it independently. If necessary, Wickramasinghe has also informed the group to make inquiries in writing to the Attorney General. It is stated that the President has further said that the Attorney General’s Department will work to provide legal support for that.

The Attorney General has informed the Attorney General’s Department about the background conditions that should exist for conducting a free and peaceful election. Sources also said that if there is any legal problem related to the work of the Election Commission, the Attorney General should directly inform him.

Sri Lanka Original Narrative Summary: 06/01

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  1. State Minister of Finance Ranjith Siyambalapitiya says a Gazette has been issued to limit air-travellers from bringing gold jewellery above 22 karats.
  2. Govt suspends imports of many products to conserve Forex reserves: among such items are shampoo, perfumes, certain make-up preparations, peas, carrots, turnips, cucumber, gherkins, certain types of mushrooms, strawberries, truffles, papadam, mineral water and men’s suits.
  3. Central Bank says Official Reserve Assets increased to USD 1,896 mn by end-December 2022, compared to USD 1,806 mn by end-November 2022: analysts note that the Reserves are still below USD 1917 mn which was the Reserve on 31st March 2022.
  4. Govt postpones Parliament debate on the controversial “Bureau of Rehabilitation Bill” until 19th Jan’23: Justice Minister Wijeyadasa Rajapakshe says the Govt will not withdraw the Bill, but has merely postponed it’s introduction.
  5. Forest density, which was 83% in 1882 has shrunk to 16% by now, and 395 elephants have been killed between 1st January and 5th December 2022 says the Centre for Environment and Nature Studies: claims that losing forest density can be considered the most severe environmental damage.
  6. Unofficial Road Development Authority sources say the Chinese Contractor building the Kadawata-Meerigama section of the Central Expressway has stopped work and is claiming damages as the Exim Bank of China is now not disbursing any funds after the debt default announcement on 12th April 2022.
  7. IGP instructs CID to investigate complaints against “YouTube” activists Janaka Senadhipathi and Sepala Amarasinghe over defaming Lord Buddha’s Sacred Tooth Relic and Buddhism: 2 teams of the CID deployed for the investigations.
  8. President and Finance Minister Ranil Wickremesinghe appoints Ronald Perera, PC as the Chairman of Bank of Ceylon for the second time.
  9. SLPP “Independent” MP Dr Nalaka Godahewa predicts the current Govt will not be able to secure even 20% of the vote at the upcoming local Govt elections: also says the Govt has failed to gain the confidence of the international community and organisations.

10.Sri Lanka beats India in the 2nd T20 Cricket International at Pune, India by 16 runs: level the 3 match series 1-1: SL – 206/6 (20) – (Dasun Shanaka 56*, Kusal Mendis 52, Charith Asalanka 37, Pathum Nissanka 33): IND – 190/8 (20) – (Dasun Shanaka 4/2, Kasun Rajitha 22/2).

Wimal to contest the upcoming LG elections through a new name and a symbol!

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Member of Parliament Wimal Weerawansa says that several parties including the Sri Lanka Freedom Party, the Uttara Lanka Sabhagaya and the Nidahasa Janata Sabhaya will contest the upcoming local government elections through a new alliance.

Udaya Gammanpila said that his alliance hopes to contest the election with a symbol that has not been used by any political party so far.

Also, the Secretary General of the Sri Lanka Freedom Party, Dayasiri Jayasekara, said that the broadest progressive force in the country will be created by his party.

zza

Sepal Amarasinghe arrested!

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YouTube social media activist Sepal Amarasinghe has been arrested by the Criminal Investigation Department yesterday (05).

He has been arrested for making statements on social media insulting the Temple of the Tooth(Sri Dalada Maligawa) and Buddhism.

The Police Media Spokesman stated that he was arrested in Boralasgamuwa area.

President appoints Ronald Perera PC as BOC Chairman

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President’s Counsel Ronald Perera has been appointed by President Ranil Wickremesinghe as the Chairman of the Bank of Ceylon (BOC).

The appointment was made in the President’s capacity as the Minister of Finance.

Perera previously served as the BOC Chairman from 2015 to 2019 during the Good Governance Regime, and on August 01, 2022 he was appointed as the Chairman of the Sri Lanka Insurance Corporation (SLIC).

MIAP

Clash between Police and protesters at Technical Junction (VIDEO)

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A group of protesters accompanying the Inter-University Students’ Federation who were on their way to stage a silent protest outside the Attorney General’s Department clashed with the Police at the Technical Junction, Maradana today (05).

The Police argued that they cannot march on the highway without prior notice, but a heated exchange has occurred between the two parties, leading to a tense situation.

The Police informed the protesters to step aside from the highway and walk on the pavement.

MIAP

SL raises Rs 98 billion in maiden T-bill auction in 2023 amidst yields slide

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The Treasury bill yields continued their weeks-long descent to usher in the new year at the first weekly bill auction held yesterday for 2023 while the Central Bank also sold the entirety of bills it offered, extending the recent trend of full acceptance.

The Public Debt Department of the Central Bank sold Rs.98.0 billion in bills across the three tenures—Rs.60.0 billion under three-month bills, Rs.20.0 billion under six-month bills and Rs.18.0 billion under 12-month bills, matching the level of acceptance under the three tenures, respectively.

There has been a large tilt towards the acceptances under three-month bills in recent times, due to expectations that the elevated yields would remain only for some time.

While the yields have in fact eased from their recent peaks, such easing has been slow and has happened by extremely little amounts.

At the auction held yesterday, the three-month yield declined 63 basis points to 32.01 percent, the six-month bill shed 18 basis points to 32.02 percent while the benchmark 12-month bill came off 11 basis points to settle at 29.16 percent from their previous week’s levels.

Despite the yields of the government securities have eased somewhat, market interest rates haven’t budged, the data available through November showed.

While the Central Bank had indicated its desire to see some notable decline in the rates since November, it appears that it hasn’t materiali’ed up to now.

The Central Bank this week imposed certain restrictions on the banks of their ability to access the overnight window under the Standing Deposit and Lending facilities.

If the Central Bank still fails to see meaningful easing in the market rates, the next step could be to impose ceiling rates on deposits and select lending products offered by banks.

The elevated yields and market rates also reflect the sentiments of investors and other market participants on the current and future outlook of the economy.

The government is also offering daily by raising taxes in an ad hoc manner outside the budget, which was presented less than two months ago, raising questions if the government has a clear fiscal and an economic policy towards economic recovery.

SL Embassy in Washington DC announces career opportunities for 550 Sri Lankans

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The Embassy of Sri Lanka in Washington DC, United States has announced that the Embassy in cooperation with the Sri Lankan Foreign Employment Agency has secured job opportunities for 550 Sri Lankans.

Issuing a statement Sri Lankan Ambassador to the United States Mahinda Samarasinghe said 250 registered nurses, 100 lab technicians and 200 nursing assistants will be employed in the United States.

The recruitment process is underway, Samarasinghe tweeted.

MIAP