The Committee on Public Funds (CoPF) on January 19 has praised the Colombo Port City Commission for taking immediate actions to implement the recommendations forwarded by the CoPF on January 05.

The CoPF’s recommendation of adopting online methods for the Port City Commission and submitting audited accounts for the year 2021 has immediately been responded with, hence Committee Chief MP (Dr.) Harsha De Silva’s appreciation of the actions.

Attending the CoPF session, officers of the Port City Commission noted that it was established under a completely legitimate purview of the government in accordance with the Port City Commission Act.

The Commission responding to a query on its ability of corroborating the validity of the information provided in the applications related to the licences emphasised that the responsibility of the information detailed in each application is referred to the applicant themselves, adding that a register of all companies in the Port City Premises are being maintained electronically enabling the general public to access these information.

Queried about the privileges of applicants who have the freedom to choose to do business outside the Port City in terms of tax policies, the Commission responded saying that those institutions have been given the authority for policy formulation pertaining to pay structures and human resources.

In response, CoPF Chief Dr. Silva stressed that the process should be subject to strong surveillance in the probability of the occurrence of irregularities. In addition, the companies are, if approved by the subject Minister, eligible to to establish a business outside the Port City on an interim basis for not more than five years.

Elaborating on surcharges and penalty charges, the Commission went on that the parameters of penalties of the Port City Commission are being formulated together with the Attorney General’s Office and other relevant regulators. The CoPF Chief argued that the Port City Economic Commission cannot serve the purpose of multiple regulators in controlling the Colombo Port City, and instructed the Commission to work closely with the Ministry of Finance, which at the present is already working as per the instructions of the CoPF to establish a body for Casino regulation by the end of 2023.

Taking the matter of resolving conflicts into account, it was revealed that the institution within the Port City, as per the Port City Commission Act, offers provisions to solve only conflicts within the Port City. However, all judicial proceedings are being carried out on a priority basis at the Magistrates’ and Civil Courts within Sri Lanka’s borders, and the Attorney General’s Office confirmed that these matters will be reviewed soon.

Conclusively, all gazettes provided for review have been approved by the CoPF under conditions, following the Port City Economic Commission’s assurance that the licence renewal process will be brought under more clarity, and regular meetings will be carried out to ensure proper submission of audit reports and avoidance of delays in other legal affairs.

State Ministers Suren Raghavan, Anupa Paskuel, MPs Chandima Weerakkody, Mayantha Dissanayake, Ranjith Bandara, Nalaka Godahewa, Premnath C. Dolawatta and Madhura Withanage, and officers of the Port City Commission and the Attorney General’s Office also attended the event.

MIAP

Mayor in Kurunegala Thushara Sanjeewa has reportedly been dismissed from his position, through an extraordinary gazette issued by the North-Western Province Governor with effect from 31.12.2022.

The move comes in due to Sanjeewa’s failure of passing the Budget of the Kurunegala Urban Council.

Sanjeewa is a close associate and a disciple of former Minister Johnston Fernando.

MIAP

The UAE Human Resources Minister Dr. Abdulrahman Abdulmannan Al Awar assured Labour and Foreign Employment Minister Manusha Nanayakkara that his country will take stern action against those who bring foreign workers to the country through illegal methods.

Minister Nanayakkara is on an official visit to UAE and explained to the UAE minister about difficulties faced by Sri Lankans who come in search of jobs to UAE on visit Visas as a result of various scams by individuals and organized groups. He also explained that efforts are taken to make the public aware of the perils of seeking foreign employment opportunities through a visit visa.
The UAE minister responded positively to a request by minister Nanayakkara to provide more job opportunities in UAE for skilled workers from Sri Lanka.

The joint technical committee that was set up in 2021 between the two countries will continue to discuss technical details on how to prevent human trafficking through visit visas to UAE. Also, a qualification equalisation program will be implemented by mapping the qualification framework of the two countries that will recognize the qualifications of Sri Lankan migrant workers.

Minister Nanayakkara explained that 35,572 Sri Lankan workers obtained employment opportunities through the Sri Lanka Bureau of Foreign Employment last year which accounts for 11.4% of the total departures in Sri Lanka. This is a 27 percent increase in 2022 compared to 2021.

The UAE Human Resources Minister explained that the newly implemented mandatory unemployment insurance applies to migrant workers as well. This will provide an amount equal to 60 percent of the salary of a migrant worker for three months in the event of job loss. He also told Minister Nanayakkara that a center that operates in 20 languages has been set up by UAE to address migrant worker grievances. Labor recruitment fees were also discussed.

Minister Nanayakkara while explaining the recent economic crisis in Sri Lanka thanked the UAE minister for the help given by his country and was hopeful that UAE would continue to extend its support, especially in the areas of foreign employment, trade, and investment.  

Assistant Secretary for Labour Affairs Ayesha Belharfia, Assistant Secretaries Abdulla Alnuaimi, Mohsin Muhsih, Assistant Director for International Bilateral Affairs Noora Alsuwaidi, International Affairs Expert Mohamed Alhammadi, Executive Officer Moza Alshamsi, Sri Lankan Ambassador-designate to UAE Udaya Indraratne and Consul General of Dubai Nalinda Wijeratne were among the participants.

1. World Bank projects Sri Lanka to have the lowest growth (-4.2%) among 148 countries in 2023: in January 2022, Sri Lanka’s 2022 growth was projected at +4% while the projection for 2023 was +4.5%: however, all estimates reversed dramatically after the debt default announcement of 12th April 2022, and economy commenced contraction.
   
2. Central Bank to issue its largest-ever stock of Treasury Bills in its 100-year history next week, with a staggering issue of Rs.120 bn: previous highest T-Bill issue was Rs.98 bn issued on 5 occasions – 8Jun’22, 15Jun’22, 14Dec’22, 28Dec’22 & 4Jan’23: T-Bill investments generally considered “risk-free” as the CB is mandated to “print” money and repay, if the Govt is unable to pay.
   
3. World Bank says Sri Lanka’s food inflation in 2022 of 64% was the 6th highest in the world: the countries ahead were Zimbabwe (376%), Lebanon (171%), Venezuela (158%), Argentina (94%) and Turkey (77%).
   
4. Professionals including medical practitioners stage protest outside Finance Ministry and demand fair taxes: voice opposition against the increasing cost of living: Police, Riot Police and Navy force the protestors to spread out.
   
5. Public Utilities Commission agrees to the Cabinet Decision on a retrospective electricity tariff hike with immediate effect, after a meeting with President Ranil Wickremesinghe.
   
6. National People’s Power Leader Anura Kumara Dissanayake proposes 75% cut to the salaries of Local Govt councillors if the Govt claims it lacks the funds to hold Local Govt elections.
   
7. Fitch Ratings downgrades National Long-Term Ratings of 5 Finance and Leasing companies – People’s Leasing, Central Finance, CBC Finance, HNB Finance and Siyapatha Finance: downgrades follow similar recent action on 10 banks and several insurance companies, consequent to the debt default.
   
8. Govt stipulates new Maximum Retail Price for eggs for the 2nd time: white egg – Rs.44, brown egg – Rs.46.
   
9. Senior Govt source reveals Finance Ministry is struggling to “find” Rs.55 bn to pay for coal shipments: Rs.20 bn “found” and negotiations said to be ongoing to “find” balance: CEB Engineers warn of dire consequences if money is not “found” and coal is not imported by the month’s end.
   
10. Industry report reveals Tea exports dropped to a 25-year low in 2022, hit by the fertilizer shortage due to agrochemical ban: only 250 mn kgs of tea was exported in 2022 – 13% down, compared to 2021 and lowest since 1997.

The driver of the of the bus which collided with a three wheeler and a van in Nuwara Eliya – Nanuoya causing a fatal accident has been arrested by the Police yesterday (21) eve, reports claim.

The accident occurred on the night of two days ago (20) killed seven persons including six persons inside the van including three children and the three wheeler driver.

Initial probe into the accident uncovered that the negligent driving of the bus driver where he was revealed to have driven too fast has caused the collision, hence the arrest.

MIAP

In conjunction with the 75th Independence Day, under the theme, ‘National Youth Platform’, President Ranil Wickremesinghe has instructed to implement a youth-led development project covering the entire island to make Sri Lanka a developed country by the 100th Independence Celebration (2048) through youth ideas, skills and interventions.

A discussion regarding this program was held yesterday (19) at the Presidential Secretariat under the patronage of the President. During this discussion, the plans related to the development of the major cities in each district as tourist cities formulated by the lecturers and students of all the universities were presented to the President.

Accordingly, the Jaffna and Vavuniya University, focusing on the Jaffna district and the Kelaniya University and Rajarata University presented tourism plans related to the Anuradhapura district.

The Ruhuna University, Sabaragamuwa University and Sir John Kotelawala Defence University jointly submitted plans for the Galle districts and the Colombo University, Sri Jayawardenepura University, University of Fine Arts and the Moratuwa University jointly submitted their plans for the Colombo district.

Peradeniya, Wayamba and Uva Wellassa Universities jointly presented the plans related to the Kandy district while the Eastern and South Eastern Universities presented the plans for the Batticaloa district.

Expressing his appreciation for all the plans that were submitted, the President said that private-sector financial assistance could also be sought to support this program.

Pointing out that it is a very good trend for the university community to contribute to the development of the country, Mr Ranil Wickremesinghe appreciated the university community’s involvement in these projects and commended their contribution.

Senior Advisor to the President on National Security and Chief of Staff to the President Sagala Ratnayake, Secretary to the President Saman Ekanayake, Chairman of the University Grants Commission Dr Sampath Amaratunga, Secretary to the Ministry of Finance Mahinda Siriwardena, University Vice Chancellors and officers of line institutions joined this discussion through online technology.

PMD

Michelin, the French multinational tyre manufacturing company based in France.

The second largest tyre manufacturer in the world behind Bridgestone is expanding its business in Sri Lanka with an additional value of USD 20.94 M.

The agreement in this regard was signed at the BOI head office last week.

Former President Gotabaya Rajapaksa’s office has strongly refuted rumors of him using 19 vehicles for his personnel use and also Rs. 950,000 for his food.

In a statement issued by Sugeeshwara Bandara, private secretary to the Seventh Executive President Rajapaksa, said the allegations were false and misleading the public.

“Firstly, it should be mentioned that former President Rajapaksa did not misuse any vehicle during his tenure as the President. People are well aware that the official vehicle reserved for the President was not used on any other occasions except during national celebrations”, he said adding that 19 vehicles have been reserved for his personal use is completely false.

According to Bandara, the provisions are being made for the security of each former president and vehicles are allocated for his security units and under those provisions, the vehicles have also been allocated to the security unit deployed for the protection of the former President Rajapaksa.

“ The given vehicles are used only by the relevant security unit and are never deployed for former President Rajapaksa’s personal use and he is only using his own private vehicle,” he said in the statement.

It further stated that the Presidents’ Entitlement Act No. 4 of 1986 specifies the allowances, financial and other provisions that a President is entitled to after his retirement.

“I would like to emphasize with responsibility that apart from the financial allocations given for former presidents under the above mentioned Act, no extra allocation has been allocated to the former President Rajapaksa,” he said.