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Sri Lanka Participates in “Foodex Saudi 2022” Exhibition

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The Embassy of Sri Lanka in Riyadh and the Consulate General of Sri Lanka in Jeddah in coordination with the Sri Lanka Tea Board (SLTB) took part in “Foodex Saudi 2022”, Saudi Arabia’s leading international food and drink trade exhibition which is held from 28 February, 2022 to 3 March, 2022 in Jeddah, Kingdom of Saudi Arabia (KSA).

Under the Sri Lanka Tea Board group stand M/S. Basilur Tea Exports (Pvt.) Limited and Sri Lanka Tea Board occupy the group stand. Several other Sri Lankan tea exporting companies were also among around 80 exhibitors who showcased their products at this event. 

Ambassador of Sri Lanka to the Kingdom of Saudi Arabia P.M. Amza ceremonially opened the Sri Lanka pavilion at the “Foodex Saudi 2022” exhibition. The Acting Consul General in the Consulate General of Sri Lanka in Jeddah T.F.M. Aaashiq and the Minister (Commerce) of the Embassy of Sri Lanka in Riyadh Sanjeewa Pattiwila also participated in the opening ceremony. The Tea Promotion Officer of the SLTB KavindaIlleperuma coordinated the event.

The organizers also facilitated business to business meetings among industry professionals. Several potential Saudi tea importers visited SLTB pavilion to inquire about importing Ceylon Tea.

Embassy of Sri Lanka

Riyadh

7 March 2022

CB allows the rupee to fall two days after sticking to its current level

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The Central Bank has immediately changed its stance on allowing the flexibility of exchange rate two days after its statement issued on Friday clearly stating that Sri Lanka’s monetary board can make changes to the exchange rate in the future if necessary, but the current level is appropriate.

This statement was made amid calls to float the currency stop reserve sales for imports.Several leading media reports highlighted the rupee floating matter which was transpired at the monetary policy review press briefing on Friday 04.

These news reports quoted Central Bank Governor Ajith Nivard Cabraal as saying that “It is the view of the Monetary Board (governing board of the agency) that the exchange rate at the current level is suitable.

“If in the future, some changes have to be done, we can do it. But at this time we think the level is appropriate.”

He was responding to a question on growing suggestions to float the rupee as forex shortages disrupted energy imports.

In a media release issued on Monday 07 Sri Lanka’s Central bank said it is abandoning a Rs 200 to the US dollar peg after printing money though multiple means which were making outflows greater than inflows, creating forex shortages and parallel exchange rates.

The central bank said “greater flexibility in the exchange rate will be allowed to the markets with immediate effect.”

“The Central Bank is also of the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar.”

The rupee is trading in the kerb market around 249 to the US dollar. Exporters have been selling unofficially around 245 to the US dollar.

It is not clear whether the 230 rate will be controlled or it will be allowed to free float.

Devaluations are hit or miss affairs, analysts say, unlike a clean float which is followed by a steep rate hike to curb domestic credit which succeeds every time.

The current statement came after a 100bp rate hike, which is still far below inflation of 15.1 percent with the budget deficit also around 10 percent of gross domestic product.

Central Bank hurridly announced on Monday 07 that, greater flexibility in the exchange rate will be allowed to the markets with immediate effect.

It is also of the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar. The Central Bank will continue to closely monitor the developments in the domestic foreign exchange market and make appropriate policy adjustments accordingly.

Announcing policy package to support greater macroeconomic stability, Central Bank noted that the decision of allowing flexibility in the exchange rate has been taken considering the severity of the external shocks and recent developments in the domestic front.

the Monetary Board of the Central Bank of Sri Lanka announced a comprehensive policy package on 04 March 2022 with the view to counter such economic headwinds.

The Central Bank also indicated that it will continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate, with the aim of achieving stability in the fronts of inflation, the external sector, the financial sector, and real economic activity.

In that context, greater flexibility in the exchange rate will be allowed to the markets with immediate effect.

The Central Bank is also of the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar.

The Central Bank will continue to closely monitor the developments in the domestic foreign exchange market and make appropriate policy adjustments accordingly

Cabinet approves Dhammika Perera’s ‘Golden Paradise Program’

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It is reported that the Cabinet has approved the ‘Golden Paradise Program’, an excellent proposal made by businessman Dhammika Perera to the government to help Sri Lanka overcome the current foreign exchange crisis.

The proposal for the program was presented to President Gotabhaya Rajapaksa by Dhammika Perera at a recent business meeting and the President had directed that arrangements be made to implement it within a week.

Accordingly, the relevant cabinet paper was prepared last week and Minister Namal Rajapaksa presented it to the Cabinet meeting held yesterday (07).

Minister Namal Rajapaksa has also stated in a Twitter message that it has received cabinet approval.

This program is designed to issue long-term resident visas to foreigners in Sri Lanka and is intended to raise foreign exchange for the country through deposits obtained from them.

Accordingly, it was reported that many Sri Lankans living abroad are already ready to invest in infrastructure, including nursing homes, to facilitate such visitors.

Businessman Dhammika Perera has also told that he is ready to provide international publicity for the program, which is one of the key factors in attracting foreigners.

Dhammika Perera has suggested in his program that if a foreigner who wishes to obtain residency through this program, he/she must first open a bank account in Sri Lanka and deposit US $ 100,000 in it. After one year, the person can withdraw up to US $ 50,000 from that amount. And from the second year onwards he/she must maintain a balance of at least US $ 50,000 in the account for the entire duration of their stay in the country.

If 50,000 foreigners can be brought to Sri Lanka through the ‘Golden Paradise Program’, it will be possible to bring $ 5 billion through deposits of $ 100,000 per person which is a huge amount. Bringing in 50,000 foreigners for residency is not a difficult goal either.

He also proposes to issue 10-year visas to foreigners over a monthly income of more than US $ 2,000 and over 60 years of age.

Related News

http://128.199.126.103/archives/5063/president-instructs-to-implement-dhammika-pereras-golden-paradise-program-within-a-week/
http://128.199.126.103/archives/4305/dhammika-pereras-next-solution-for-the-dollar-the-golden-paradise-programme/

International Finance Corporation to boost investments in Sri Lanka

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The International Finance Corporation is to boost its investments in Sri Lanka, with a focus on supporting private sector job creation, paving the way for robust investments to help spur the country’s recovery and future growth.

The comments by IFC Regional Vice President for Asia and the Pacific, Alfonso Garcia Mora, came at the end of a three-day visit to Sri Lanka, which included a meeting with the President of Sri Lanka. Gotabaya Rajapaksa, Minister of Finance,. Basil Rajapaksa, government officials, including the Governor of Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal, private sector representatives, entrepreneurs, and development partners.

Garcia Mora was accompanied by IFC’s Vice President for Risk, Mohamed Gouled, Regional Director for South Asia, Hector Gomez Ang and the new Country Manager for Sri Lanka and the Maldives, Lisa Kaestner, as well as the World Bank Country Director for Sri Lanka, Maldives and Nepal, Faris Hadad-Zervos.

“In my meeting with His Excellency the President, we discussed the need to have a sound macro fiscal stability to attract foreign capital and provide medium- and long-term certainty,” Garcia Mora said.

“The talks also focused on ways to maximize the potential of the country’s private sector to help address Sri Lanka’s challenges and achieve the inclusive growth the country nWe are committed to Sri Lanka,” Garcia Mora said.

“This is demonstrated by our investment commitments in the past six months which have targeted export-oriented industries. Since the onset of the pandemic, IFC has also played a strong counter cyclical role in its financing and will continue to build on that program going forward.”

During his meetings, Garcia Mora highlighted IFC’s investment of $450 million during the first 18 months of the pandemic in Sri Lanka as sign of IFC’s steadfast commitment to the country.

“We are working with the private sector in the country to create a robust investment pipeline and this can be accelerated with additional reforms in the infrastructure sector, allowing the private sector to play a bigger role,” Garcia Mora said.

“IFC intends to invest a further $150 million during the current fiscal year ending in June 2022. Over the next five years, IFC is looking at an investment pipeline of more than $800 million.

Specifically in supporting IFC’s efforts will focus around three strategic pillars in Sri Lanka: supporting innovation for growth, including export diversification, start-ups, niche market agriculture and value additions for export, high tech manufacturing.

It is also included the growth-enabling sustainable infrastructure, including low-cost clean energy, sustainable transport and logistics systems; and deepening social and financial inclusion, including digitization, economic participation of underserved people, especially women.

While in Colombo, Garcia Mora also signed a cooperation agreement with John Keells Holdings (JKH) to develop a commercially viable and sustainable street market in Colombo 2, which will also promote women’s participation in hospitality and tourism.

The officials also had the opportunity to meet clients and partners of Women in Work program – IFC’s largest, standalone country-based gender program designed to close gender gaps in Sri Lanka’s private sector.

Since the beginning of the pandemic, IFC has invested $450 million in Sri Lanka, including $175 million in JKH to boost retail and tourism – IFC’s largest investment in Sri Lanka over its 50-year operations.

As part of the overall pandemic response, IFC injected $50 million in Commercial Bank of Ceylon and $25 million in Nations Trust Bank to help small businesses stay afloat during the height of the pandemic.

IFC’s strategy also focused on expanding export diversification, promoting sustainability and inclusive growth. Last year, IFC piloted a new digital health program – Digi HAELTH– to boost access to affordable and quality health-care services in Sri Lanka and beyond.

In October, IFC also issued its first-ever rupee-denominated bond in the country – the Serendib bond – to ensure that the private-sector has access to long-term offshore financing in local currency growth-enabling sustainable infrastructure.”

High Commissioner Moragoda meets Head of the RSS

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High Commissioner of Sri Lanka to India Milinda Moragoda met with the Chief of the Rashtriya Swayamsevak Sangh (RSS)Shri Mohan Bhagwat on 24 February, 2022. The meeting took place at the Headquarters of the RSS in Nagpur, Maharashtra. The Rashtriya Swayamsevak Sangh, literary meaning the ‘National Volunteer Organization’, is a large and widespread Indian Hindu volunteer organization with a membership of 5-6 million.

The Chief, or the “Sarsanghchalak”,of the RSS Shri Mohan Bhagwat extended a very warm welcome to High Commissioner Milinda Moragoda. During the meeting they discussed a wide range of issues including the age-old cultural and religious relations between India and Sri Lanka, especially between Buddhism and Hinduism, and sought ways and means through which a dialogue could be established between these two world religions which originated in India. The senior office bearers of the organization were also present at the meeting.

The High Commissioner of Sri Lanka gifted two large-framed photographs to the organization to mark this occasion. These photographs feature two murals from the Kelaniya Rajamaha Vihara which depict the gift of Buddhism to Sri Lanka by India. Of these photographs, the first depicts a mural of Arahat Mahinda delivering the message of the Buddha to King Devanampiyatissa upon arriving in Sri Lanka while the second depicts the arrival of Theri Sanghamitta to Sri Lanka bearing the right-hand branch sapling of the Sri Maha Bodhi Tree.

Earlier in the day, High Commissioner Moragoda paid a floral tribute to the memorial of the late founder of the Rashtriya Swayamsevak Sangh Dr. Keshav Hedgewar. There, at the Dr. Hedgewar Smarak Samiti (Hedgewar Memorial Committee) building he also unveiled the two photographs that were gifted, in the presence of the senior officials of the Committee.

Founded by Dr. Keshav Baliram Hedgewar on 27 September, 1925 in Nagpur with the intention of creating a Hindu nation, the RSS promotes the ideals of upholding Indian culture and the values of a civil society and spreads the ideology of Hindutva, to strengthen the Hindu community.

Shri Mohan Bhagwat is the 6th Sarsanghchalak of the Rashtriya Swayamsevak Sangh. He has held that position since 2009.


High Commission of Sri Lanka

New Delhi

07 March, 2022   

IWD: Hijabs in Freedom Bins, Woman’s Quran, Celebrating Dissent 2022

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FOR INTERNATIONAL WOMEN’S DAY, 8 MARCH

Throw our hijabs in ‘Freedom Bin’ and burn them

In the 1960s, feminists threw items of women’s oppression into a “freedom bin” as protest.

On 8 March, International Women’s Day, we throw our hijabs in the “freedom bin” and burn them.

The hijab, a tool to suppress women and girls, belongs in the dustbins of history… Join us.

Surah of the Donkey from the Woman’s Quran

See our latest topless protest here, with a rewrite of a Surah of the Quran.

 ‘Your women are a tilth for you so go to your tilth as ye will.’  – Quran, Surah 223, The Cow

Tilth hay* so you have your share.  – Woman’s Quran, Surah 223, The Donkey

*Donkeys ideally should have a diet consisting of straw or hay.

ALSO HOLD THESE DATES

Celebrating Dissent 2022 is a 2-day conference which will be held in Cologne, Germany during 20-21 August 2022. It will be the largest and most prominent gathering of ex Muslims and freethinkers since the beginning the COVID 19 pandemic.

The conference is being organised by Council of Ex-Muslims of Britain (CEMB) and Freethought Lebanon and it succeeds similar successful events such as the ‘Celebrating Dissent’ conference (Amsterdam, 2019) and ‘Glastonbury of Freethinkers’ conference (London, 2017).

NMSJ: A Happy International Women’s Day!

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Press Release by the National Movement for Social Justice On the occasion of the International Women’s Day 2022

As the world sets to celebrate the International Women’s Day on the theme “Gender Equality Today for a Sustainable Tomorrow”, the NMSJ reiterates it’s commitment to uphold gender equality and value diversity that women continue to bring into the society, economy and governance. The last two years was a reminder to the world of the power and ability of women to successfully face calamity and disturbance in the face of the pandemic where they demonstrated what women can do and where they needs to be recognised. In Sri Lanka, women in majority faced extra challenges coping with household chores and work life balances in the pandemic, household economic pressures resulting from the current crisis, continuing violence against women, loss of opportunity and participation in decisions, however amidst adversity made significant contributions in the overall pandemic recovery and retaining normalcy in family, community and the country. We salute all women who made these contributions and sacrifices how small or big those efforts are.

Women empowerment is one of the key pillars of the NMSJ policy. In its present phase, under the leadership of Hon. Karu Jayasuriya, NMSJ could redefine their strategy and approach towards advancing women empowerment and gender equality in particular nourishing the national dialogue for influencing national policy and development frameworks. During the past two years, NMSJ facilitated dialogues on timely topics on Women Empowerment and gender equality. Discussions were made on the present status, deep rooted causes that contribute to deepening the inequalities as well as ‘what’s in for future’ a list of suggestions and recommendations.

So far, under the NMSJ’s weekly online dialogue ‘Kathikawa’, four indepth and diverse discussions  were conducted. The topics included the need for gender transformative policy and programmatic actions, building understanding and reinforce the importance of women’s decision making across spheres, in governance from sub national to national legislature, yielding efficiency through women’s economic empowerment, the need for critical legal reforms including the support to the review of gender discriminatory laws and provide for judicial review of the past legislations, decent work etc, the demand to re-establish a separate Ministry of Women with a cabinet portfolio and ensure sensible and efficient architecture and resources to support gender equality, social protection of vulnerable groups, address gender stereotyping and the important role of citizens and governance, role of media etc.

A diverse group of gender, legal, education, political, administration, media, women and youth activists all contributed to these rich discussions. Dr. Kala Peries, Dr. Vishaka Suriyabandara, Ms. Hemanthi Goonasekara, Ms. Ramani Muttetuwagama, Mr. Rasika Jayakody, Ms. Samadanie Kiriwandeniya, Ms. Savendra Weerasinghe and Ms. Janaki Kathriarachchi are among the key panellists who contributed to the discsussions.

At present, NMSJ is in the process of compiling a common position on the critical issues related to Women and Gender Equality in Sri Lanka with the aim to gather wider perspective and evidence based consultations to share for policy and public dialogue.

At NMSJ, we acknowledge that pre and ongoing COVID-19 scenarios present an alarming picture of increasing disparities and inequalities that hampers the functioning of democracy, economic efficiency and towards creating a fairer society for all citizens. Hence, we reiterate as a country we must together find solutions to address them so that all genders live in an equitable and peaceful democracy.

Policy package to support greater macroeconomic stability: Allowing flexibility in the exchange rate

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Considering the severity of the external shocks and recent developments in the domestic front, the Monetary Board of the Central Bank of Sri Lanka announced a comprehensive policy package on 04 March 2022 with the view to counter such economic headwinds. The Central Bank also indicated that it will continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate, with the aim of achieving stability in the fronts of inflation, the external sector, the financial sector, and real economic activity.

In that context, greater flexibility in the exchange rate will be allowed to the markets with immediate effect. The Central Bank is also of the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar.

The Central Bank will continue to closely monitor the developments in the domestic foreign exchange market and make appropriate policy adjustments accordingly.

Central Bank of Sri Lanka (CBSL)

Finance Minister instructs governors to reduce power consumption by 20 per cent

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Finance Minister Basil Rajapaksa has held a discussion with the provincial governors via video technology regarding the power crisis in Sri Lanka.

The Finance Minister has instructed the governors to put maximum efforts to reduce the consumption of power in provincial council level. Accordingly, a decision has been made to reduce the power consumption by 20 per cent.

This has been already informed to the provincial council governors and top officials of the government institutes.

The discussion has also paid focus on the importance of the use of renewable energy as much as possible as a solution to the power crisis.

MIAP

Cardinal addresses Human Rights Council in Geneva

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Archbishop of Colombo His Eminence Malcolm Cardinal Ranjith addressing the 49th Assembly of the United Nations Human Rights Council (UNHRC) in Geneva, Switzerland called on the Council and all its member states to foster a proper mechanism to ensure the impartiality of Sri Lanka’s investigations into the Easter Sunday Massacre which took away more than 270 lives three years ago.

Although it was pictured to be a mere terrorist attack by Islam Extremists during the initial observations into the event, later it was made clear that this was part of a wider and carefully planned political conspiracy, the Cardinal emphasised.

He added that civil movements were calling for the truth to be uncovered but the government was failing to serve justice for the victims of the genocide.

MIAP