State Minister for Power and Energy D.V. Chanaka says that according to the current price, the government will incur a loss of 12 rupees per liter of diesel.

The Minister of State stated this while replying to the questions raised by Jana Balavegaya Member of Parliament Hesha Withanage regarding the fuel price formula in Parliament today (09).

Sagala Ratnayake, President’s Senior Adviser on National Security and Head of Presidential Staff, said that Ranil Wickramasinghe’s vision for building the country is exceeding IMF/WB stipulations.

Sagala Ratnayake expressed these views yesterday (08) in the morning of the President’s Office during the meeting between government officials and World Bank members to start the World Bank Budget Support and Development Policy Operation (DPO).

Pointing out that this is the best opportunity to stabilize the country economically, establish a strong policy framework and go to the required road map, Ratnayake said that we as a country have that ability and we request everyone to make the most of it.

Ratnayake also pointed out the importance of getting the final report related to the preparation of the policy framework at the end of the next two weeks, preparation of the road map and everyone’s commitment according to the time frame.

Minister of State for Finance Shehan Semasinghe mentioned that President Ranil Wickremesinghe is committed to stabilizing the country’s economy and for that the President has taken very difficult decisions.

Faris Hadad-Zervos, Director of the World Bank for Maldives, Nepal and Sri Lanka, said that he is amazed at the active policy and vision of President Ranil Wickremesinghe for the country and the World Bank is working to support it.

The objectives of this discussion are to achieve a specific set of development outcomes through development policy operations that provide direct budgetary support to governments for policy and institutional restructuring.

These operations have been planned under three points namely, provision of rapid financial assistance, transformation of financial governance, and enhancement of competitiveness to enable it to deal with expected development finance needs.

Debt management and transparency, financial supervision, improving tax administration policy, public procurement transparency as well as increasing the value of money, delinking the sovereign financial sector and reducing systemic risk were discussed at length.

Reform and improve oversight of state-owned enterprises, reduce anti-export bias in national tariff policy, remove barriers to foreign investment, reduce energy and transport sector dependence on imported fuels, make more climate-friendly, social security institutions, distribution Strengthening and targeting of the system were also discussed.

Minister of State for Social Empowerment Women and Child Affairs Anupa Paskuwal, President’s Secretary Saman Ekanayake, World Bank Local Manager Chio Kanda and members of the World Bank team and officials of line agencies attended the event.

Sri Lanka is now severely feeling the pinch of controversial declaration of preemptive debt default hinting the country’s bankruptcy made by the Central Bank Governor Nandalal Weerasinghe on April 12 as the finance ministry engagement of creditors debt on restructuring process dragging on without any positive results.

The Central Bank’ monetary board is currently compelled to reconsider the revising of present extremely high interest rates which are unsustainable and a threat to all businesses in every industry, especially considering the many difficulties of operating businesses during this economic crisis, several eminent economists said.

President Ranil Wickremasinghe is now bravely facing the repercussions of the decisions taken by the Central Bank in accordance with its Monetary Board consent.

President Wickremasinghe shouldering the gigantic task of correcting the wrong ill advice and back firing actions of high handed arrogant officials’ who misled all previous regimes in collaboration with corrupt ministers in those regimes.

However this not the time of blaming and shaming for past deeds as the the government has an urgent responsibility to tackle the the man made economic crisis and direct the ill-fated economy towards a corrective path, patriotic group of government officials claimed.

Expressing his concerns about the need to ensure sufficient steps to wipe out the mal-effects arising out of the self- declared Label of Bankruptcy, the President who is also the country’s Finance Minister has already spelled out his package of plans to resolve the current issues according priority to conserve foreign exchange and limit imports emphasizing that it did not work initially but ok now.

He also stated that as the revenue is dried up, measures have to be taken to increase revenue and this too is in the scope of the plans envisaged.

The controversial “debt default” announcement on 12 April 2022 pushed the country into default, and it is seriously suspicious as to why that was done when the “pipeline of inflows” at that time amounted to $ 10.7 billion without the necessary formal approvals.

Sri Lanka is now facing frightful repercussions of defaulting sovereign forex loans which led to the loss of the credibility and Investors shun that country.

The defaulting country cannot obtain new forex loans thereafter. Access to International Bond Markets is lost.

The banking system is placed under pressure. Banks face serious difficulties when opening letters of credit and doing forex transactions. Forex loans and investments are halted. Local firms doing business overseas face hardships. Most forex-funded infrastructure Projects halted.

Foreign Direct Investors adopt a “wait and see” attitude. Small and medium sized import-based businesses and entrepreneurs face the risk of collapse.

Hundreds of thousands of jobs and livelihoods are in jeopardy. Inflation and interest rates rise. The Government is compelled to sell valuable state assets. Forex creditors institute legal action to recover their dues. The Government incurs huge litigation costs and experiences “black-listing”.

PUCSL has approved power cuts of 02 hours from November 09th to November 11th.

Groups ABCDEFGHIJKLPQRSTUVW – One hour during the daytime and one hour during night.

1. President Ranil Wickremesinghe addresses COP27: says colonialism transferred rich resources of Asia and Africa to Europe, and used those to industrialise colonising countries: states the countries that were plundered, became poor: asserts “umbrella industrialisation” of developed economies is root cause of climate change.
2. NFF Leader and “independent” Opposition MP Wimal Weerawansa says CB Governor Dr. Nandalal Weerasinghe earns salaries from CB and IMF: asserts that creates a major “conflict of interest”.
3. Senior Advisor to the President Sagala Ratnayake says World Bank Country Director for Sri Lanka, Faris Hadad-Zervos had been
   “amazed” by the action policy and vision of President Ranil Wickremesinghe, and had expressed support for the President’s vision.
4. Former Minister and SJB MP Dr. Rajitha Senaratne says President Ranil Wickremesinghe has brought the country to a stable level by providing solutions for the immediate problems: SLPP MP Mahindananda Aluthgamage says the President has provided solutions for the
   burning problems.
5. Speaker Mahinda Yapa Abeywardene blames
   Opposition for President’s
   criticism of Parliament: Speaker’s Media Secretary attributes reasons for such blame, including delay in appointing joint Committees: Chief Opposition Whip Lakshman Kiriella says Opposition would not join Committees until Government discloses agreement with IMF, in Parliament.
6. International Organisation for Migration says 303 Sri Lankans have been rescued from a distressed vessel and taken to the Port of Vung Tau in Vietnam, 1800 km away from Hanoi.
7. Former CB Governor Ajith Nivard Cabraal publishes book titled “ආර්ථික ඝාතකයන් මැද” (“Among Economic Hitmen”): book said to contain “answers to all questions” pertaining to the manner and persons behind the bankruptcy of the country.
8. Colombo Additional Magistrate Keminda Perera orders the remand of 2 police officers and a school principal for torturing Grade 5 students at the Millaniya Primary School, Horana.
9. Sri Lanka Cricket appoints 3-member panel of Justice Sisira Ratnayake, Attorneys at law Niroshana Perera & Asela Rekawa to inquire into the alleged incident involving Danushka Gunathilaka and a woman introduced to him via an Australian “dating” site.
10. UN teams in SL and NGOs extend a “Humanitarian Needs and Priorities” (HNP) Plan that aims to provide life-saving assistance to 3.4 million people amid SL’s worst economic crisis since independence.

The first ever SportUnleash Throwers Championships, which will host some of the world-class competitions for the throwing events in the sport of track and field will take place on Saturday, the 12th of November from 9am to 4pm at the Torrington Grounds, Colombo 07.

This will feature Shot Put throw, Discus throw and Javelin throw for both boys and girls for age categories under 14, 16 and 18. Individuals and schools from around the island are invited to compete, and registrations are currently taking place online through its website www.sportunleashthrowers.com.

There will only be 24 competitors per event and a maximum of 12 competitors in a heat, out of which the best 8 will receive 6 throws with every throw being measured. The top eight performances will also receive certificates, and the top three best throwers will receive Gold, Silver, and Bronze Medals. Three Sri Lanka Athletics Association (SLAA) judges will be present at each event to officialize and verify when Sri Lankan records are broken.

Talavou Alailima, the Chairman of the Organizing Committee, said, “The SportUnleash Throwers Championships 2022 sets the foundation for a new culture of hosting competitions that are Athlete centric. If we, as a country, desire to realize any noteworthy achievement in the World Arena, every organized competition must ensure that the Athlete can deliver exceptional performances. The SportUnleash Thrower Championships will be an example of what such a competition would look like. We have set ourselves a high standard and plan to achieve them each time until there is a paradigm shift in the Sri Lanka Athletics sphere.”

The Organizing Committee Talavou Alailima – Chairman, and coaches Major Upali Wickramasinghe (Retd), Joy Danushka Perera, Jayakody, Fonseka, and Chethan Silva including coaches Mendis, Hemantha, Janaka in the Sub-Committee. 

This inaugural initiative is by SportUnleash which strives to maximize the sports gifting of children and is well known for its Sports Talent Identification Report that exhibits a 360-degree comprehensive evaluation for children between the ages of 9 – 11.

For registrations to the SportUnleash Throwers Championships 2022, please visit https://www.sportunleashthrowers.com/register/ or contact Chethan on 075 219 8524 or Upali on 077 351 1897, or Joy on 077 362 2383.

The Consul General of Sri Lanka in Toronto, Thushara Rodrigo participated at the Annual Festivals of the Murugan Kovil in Scarborough on 30 October, 2022 at the invitation of the Chief Priest of the temple. The religious programme was attended by over 2000 devotees from the Sri Lankan Canadian Tamil community.

The Chief Priest in his address to the gathering recognized the representation of the Consulate General in the festival and commended the Consulate General for the continued engagement in the religious activities of the Kovil.

Consul General Rodrigo also met with a group of senior Tamils on 29 October 2022 at Scarborough Civic Center to discuss the importance of further strengthening the Consulate’s engagements with the Tamil community and requested them to actively participate in these efforts. They commended the efforts of the Consulate General and agreed to work collectively by encouraging the young people of their community to work with the Consulate General.

Consulate General of Sri Lanka

Toronto

08 November, 2022