The government has decided to hold a debate on the report issued by the International Monetary Fund (IMF) on Sri Lanka and a debate, accordingly, will be held on the next Parliamentary week, said Chief Government Whip Johnston Fernando.

Both the Samagi Jana Balawegaya (SJB) and the United National Party (UNP) representing the Opposition had requested a debate in this regard.

A regional IMF envoy visited Sri Lanka recently and met with the President, the Finance Minister and other government and prepared a report on Sri Lanka to be submitted to the government.

MIAP

The unloading of the LP gas consignment arrived in Sri Lanka has commenced under the debt facility by Oman. The consignment consists of 3500 metric tonnes of gas.

State-run LITRO Gas said it has received sufficient gas stocks and supplies 100,000 cylinders of LP gas to the market daily. Accordingly, the gas shortage may subdue in the next few days, a spokesperson for LITRO told media.

The Kerawalapitiya Gas Terminal does not carry out gas filling operations on Sundays, but it has been decided to continue the operation today, considering the current situation of the country.

Measures have been made to supply about 100,000 gas cylinders to the market today.

MIAP

The luxury vehicles requisitioned by the Provincial Councils are still being used by the former ministers of the Provincial Councils, an investigation into the vehicle stocks possessed by the Councils disclosed.

While some Provincial Councils are five years behind their official term, the vehicles requisitioned for official use have not yet been handed over.

The Provincial Council Election was scheduled to be held during the last Good Governance regime’s period, but the polls were delayed upon the need understood for the adaptation of a new electoral system.

At the end of the Good Governance regime’s term, the relevant amendments could not be passed in Parliament. In the case of the current regime, the Provincial Council Election has still not been held despite the two years it spent in power.

Despite the term end, some Chief Ministers and Ministers have not yet returned these luxury vehicles, while some reports divulge that these vehicles have been used even by their spouses. Some reports claim that a group of former high ranking officials attached to these Councils are still using the vehicles illegally.

A detailed report on the government figures who have not returned these vehicles has been submitted to the heads of the government, correspondents add.

MIAP

Police urge the public to refrain from making Social Media posts about any trips made during the upcoming New Year festive season. It is very important for the public to at least refrain themselves from making Social Media posts about their travels until they return home, said Senior Police Media Spokesperson DIG Ajith Rohana.

Any update on Social Media about private trips made can be of advantage to thievery many racketeers during the Festive Season, Rohana pointed out, adding that their tendencies to break into the houses may grow upon Social Media posts of such nature.

The Police also urge the public to pay close attention to the safety of their vehicles and luggage during the travels, given that activities of thievery and racketeering have increased in the recent times.

In the backdrop, the frequency in which raids are carried out against such acts during the Festive Seasons has also increased, Rohana revealed.

MIAP

Sri Lanka is facing its all-time worst foreign exchange crisis after the pandemic hit the nation’s earnings from tourism and remittances. The import costs of newsprint also rose remarkably since the government’s decision early this month to float …

Sri Lanka’s two major newspapers on Saturday suspended their publication over newsprint shortage and price escalation caused by the country’s all-time worst foreign exchange crisis. The Island, an English daily along with its sister Sinhala paper Divayina, ceased to print as the newsprint scarcities and price escalations hit the media organisation.

“We regret to inform our readers that we have been compelled to suspend the publication of The Island print edition on Saturday until further notice in view of the newsprint shortage,” Upali Newspapers Limited said in a statement.

Sri Lanka is facing its all-time worst foreign exchange crisis after the pandemic hit the nation’s earnings from tourism and remittances.

The import costs of newsprint also rose remarkably since the government’s decision early this month to float the Sri Lankan rupee against the US dollar.

The Island newspaper, which has been in print since October 1981, will now function as an e-paper.

Sri Lanka is facing an acute economic and energy crisis triggered due to shortage of foreign exchange. A sudden rise in prices of key commodities and fuel shortage forced tens of thousands of people to queue for hours outside petrol filling stations. People are also facing long hours of power cuts daily.

All essentials are in short supply due to import restrictions forced by the forex crisis.

As part of its measures to tackle the crisis, the Sri Lankan government has sought India’s assistance. After months of resistance, the government is preparing to approach the International Monetary Fund (IMF) for an economic bailout.

In a related development, the Indian Oil Corporation‘s local entity LIOC effected another price hike of petrol with effect from midnight Friday. This was the LIOC’s fourth price hike since February.

India recently announced to extend a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to help the country deal with the economic crisis. New Delhi had extended a USD 500 million line of credit to Colombo in February to help it purchase petroleum products.

Economic Times