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COPE to summon SL Airlines with record  breaking fourth quarter profit

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SriLankan Airlines recorded its first profitable fourth quarter (Q4) since 2006 for the financial year that ended on 31 March 2022 with group net profit of USD 1.7 million despite pandemic challenges , officials said.

The profit making SriLankan Airlines would be summoned before the Committee on Public Enterprises (COPE) regarding the plans to lease 21 planes , COPE Chairman Charitha Herath said.Hetold Parliament that he discussed the matter with the Auditor General and decided to summon SriLankan Airlines before the COPE.

StateMinister D.V. Chanaka said there was no immediate plan to lease the said planesand that a proposal has been made to lease out flights in place of flights whose lease period was to expire.

TheMinister said SriLankan was profitable now and that it had not obtained government funds for the last eight months. ” he said

The  chairman of the airline Ashok pathirage noted that d it was able to achieve this financial turnaround through various measures in its 2021-22 financial year including scaling down staff costs and overheads; renegotiating supplier contracts;increasing cargo revenue; and creating an ambitious growth plan capitalizing on pent-up travel demand. 

The initiatives paid off, with SriLankan making its first monthly profit since the onset of COVID-19 in December 2021 and continuing with a profit in the final quarter, the statement said. 

The airline now has accumulated over USD 12 million in profits over the last 4 months as traffic has returned after the pandemic, he added.SriLankan’s expansion initiative saw the launch of flights to several new destinations in the last year including Seoul; Moscow;Kathmandu and Paris. 

Frequencies were also gradually increased across the airline’s network in line with the recovery of the global travel industry and demand.

The airline has also carried out major campaigns to boost tourism to the country including a major initiative in India, roadshows supporting new routes and most recently sponsoring the popular French annual adventure trail, Raid Amazones, in March of this year

Sri Lanka seeks IMF bailout via EFF or RFF at a time of public unrest

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 After declaring pre-emptive debt default  Cash strapped Sri Lanka  has sought  an International Monetary Fund bailout by way of Extended Fund Facility(EFF)  or Rapid Finance Facility (RFF) , to battle record inflation and  tackle balance of payment issues.

Minister of Finance Ali Sabry who was appointed several weeks before the IMF spring meetings in the wake of unprecedented public uprising against the mismanagement of the economy and in efficient and corrupt governance said that his talks with the IMF Chief on Monday was very positive.

Minister of Finance Ali Sabry had met with IMF Managing Director Kristalina Georgieva on 18th April at IMF Headquarters in Washington DC.

The IMF has commended the steps already taken by the Finance Minister to mitigate the situation, and assured fullest support by the IMF which was also positive on expediting the processes, Finance Ministry announced. 

However the government has point blankly rejected these two possible financing facilities refusing to make asny official request from the IMF amidst demandes of the country’s leading economic experts and advisors during the past two years. 

International media quoted Finance Ministry as saying that that negotiations between a delegation led by Finance Minister Ali Sabry and the IMF started in Washington on a positive note On Monday 18.

 The IMF has noted the recent steps taken to increase the interest rates and calling for RfP’s for the appointment of international financial/legal advisors as good first steps towards a possible restructuring programme.

The Finance Minister had made a request for a Rapid Financing Instrument (RFI) to mitigate the current supply chain issues.However, initially the IMF was of the view that it doesn’t meet their criteria.

The Finance Ministry said that India subsequently made representations on an RFI for Sri Lanka as well and the IMF may consider this request due to the unique circumstances.

The IMF also appears to be positive towards granting an Extended Fund Facility (EFF), the Finance Ministry said, adding that this can help stabilize things in the short term till long-term solutions kick in.

 The South Asia nation is in the brink of its worst economic crisis since independence from Britain in 1948 with long queues forming outside gas stations and rolling daily blackouts imposed across the country.

 A huge crowd stormed the presidential secretariat in Colombo and occupying Galle Face green for the 12 th day today Wednesday 20  over runaway prices with the rising cost of food, medicine and other essential goods causing serious hardship for Sri Lanka’s 22-million people.

Widespread street protests with the participation of massive crowds have now become the order of the day making the government headed by President Gotabaya Rajapaksa to use minimum police power to disperse aggrieved people who took to the street to demand fuel , coking gas  and some thing to eat, 

In one of the  incident of police using minimum power of  tearagasing,manhandling batoning and shooting at angry protestors   reported on Yesterday at least 24 injured people injured and one person killed in  the Rambukkana protest , eye witnesses said.

 Soon after the tragedy  Ambassador of the United States to Sri Lanka, Julie Chung  issued a statement  demanding a full transparent investigation into the police shooting, which claimed the life of one individual following a tense situation during a protest staged in Rambukkana, eye witnesses said. 

 The Resident Coordinator of the United Nations (UN) in Sri Lanka, Hanaa Singer-Hamdy has raised deep concerns over the casualties reported during the protest in Rambukkana.In this backdrop Sri Lanka delegation Finance Minister Ali Sabri,a lawyer turned politician is engaged in a gigantic task of persuading the  IMF approve this financing facility and the days are numbered for the gaining of donor assistance under the present public unrest, several political analysts said

Bangladesh and Sri Lanka explore new investments and Blue economy potential

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High Commissioner Professor Sudharshan Seneviratne drew home the importance of the tremendous potential both countries hold to work jointly towards a win-win situation on multiple areas of investments and be joint stakeholders in the blue economy having a shared interest in the Bay of Bengal. These ideas were discussed at a meeting held with the President of Dhaka Chamber of Commerce & Industry (DCCI) Rizwan Rahman on 5th April 2022 at the DCCI office in Dhaka.

High Commissioner Seneviratne and DCCI President Rizwan held discussions on a wide range of initiatives and explored the possibilities for Bangladesh to invest in Sri Lanka in tourism, agriculture, shipping and logistical sectors in addition to pharma and education  in Sri Lanka. DCCI President Rizwan stated that Sri Lanka could be an attractive destination for Bangladesh investors and expressed DCCI’s readiness to support the High Commission in its economic promotional activities. He also agreed to organize a business delegation to Sri Lanka at a convenient time this year.

First Secretary (Commercial) of the High Commission Srimali Jayarathna participated in the discussion. 

High Commission of Sri Lanka

Dhaka

19 April, 2022

Participation of SLCG Suraksha in NATPOLREX VIII, Goa

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Preparing for National Level Pollution Response, Indian Coast Guard is conducting NATPOLREX-VIII Exercise from 19-21 April 2022 in Goa. The Exercise is attended by many ships and participants from other countries in the region.

2.     Sri Lanka Coast Guard Ship Suraksha is participating in the Pollution Response Exercise to further regional solidarity through this multilateral engagement with the aim of strengthening coordinated efforts for preserving and protecting Marine Environment.

3.     The participation of SLCG Suraksha gains special significance in light of recent incidents of MT New Diamond and MV XPress Pearl which had greatly threatened the Marine Environment of Sri Lanka. It was through immediate and coordinated efforts of the Indian Navy and Coast Guard along with their Sri Lankan counterparts that major catastrophes were averted.

4.     It may be recalled India has been ‘First Responder’ for Sri Lanka on several occasions including delivery of COVID-19 Vaccination, Liquid Medical Oxygen, Nano Nitrogen Fertilisers in 2021. Further, India has been actively involved in various capacity building initiatives like NATPOLREX towards validating inter-agency coordination and preparedness of the Indian Coast Guard with valuable experience sharing with friendly countries including Sri Lanka to promote the vision of Safety And Growth for All in the Region (SAGAR).

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Colombo

19 April 2022

Prospects for exporting more gems & jewellery from Sri Lanka to Southern China

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The Sri Lanka Export Development Board in coordination with the Consulate General of Sri Lanka in Guangzhou, organized a virtual B2B meetings on 6 and 7 April 2022 between five prominent Sri Lankan gem and jewellery companies, namely Beauty Gems, Gem Paradise, Precision Lapidaries, Zam gems and Engelo Gems and two very prominent Chinese companies in the duty free sector of Hainan Province; China Duty Free group co and M/S Hainan Provincial Diamond & Jewellery Co. Ltd.

The Consul General of Sri Lanka in Guangzhou, Priyangika Dharmasena stated that Sri Lanka is rich in gem deposits of which only 20 percent has been utilized. She said that Sri Lanka is a reliable supplier of precious stones, including  the Ceylon sapphires. She encouraged both sides,‘to productively engage, with an end result in mind, to sell and buy”.

Acting Director Manoja Dissanayake and Export Promotion Officer Dilsha De Alwis of the Sri Lanka Export Development Board made a presentation on the gem and jewellery sectors in Sri Lanka.

The B2B meetings conducted after the presentation were very successful in providing a platform for constructive and vibrant engagements between prospective buyers and suppliers to exchange information and envisage future partnerships in gem and jewellery trading.

Consulate General of Sri Lanka

Guangzhou

19 April, 2022

PNC: Field Executions of Palestinians is an interpretation of the instructions of Naftali Bennett government

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PNC: Field Executions of Palestinians is an interpretation of the instructions of Naftali Bennett government

15 April 2022

The Palestinian National Council (PNC) said that the field executions of Palestinian citizens that amount to war crimes and crimes against humanity, carried out by the Israeli occupation army in Palestinian cities and villages, are interpretation and implementation of the policy and direct instructions of the Israeli settler Prime Minister Naftali Bennett.

In a statement issued today, PNC added that the cold-blooded killing of the Palestinian people, the latest of which happened this morning in Jenin, was the execution of Shas Kamamji and Mustafa Abu Al-Rub, and what happened yesterday in the execution of three youngsters, the youngest of whom was the child Qusay Hamamra in Bethlehem. It is terrorism that has been silenced internationally by international institutions and the great countries in the world, foremost of which are those who claim their keenness to implement justice, protect human rights and achieve security and stability in the world.

PNC stressed that the Palestinian people and their leadership reject the “carrot and stick” policy announced by Israeli Minister of War Gantz, and affirm the full right to resist the occupation and confront its crimes and terrorism in defense of the land, people and holy sites, in order to achieve the establishment of a free and sovereign state of Palestine with the city of Jerusalem as its capital In accordance with relevant international legitimacy resolutions.

Remaining silent about these daily bloody crimes, and following the policy of selectivity and double standards which the international community deals with when it comes to the Israeli occupation, explicitly means encouraging the aggressor to continue the aggression, PNC affirmed, in addition to the occupation persecution of Palestinian blood. This is in a way or another a participation in the Israeli occupation crimes and violations of the rights of the people the defenseless Palestinians, foremost of which is the Palestinians right to life.

PNC held the Israeli occupation government fully responsible for everything that is happening on the Palestinian land, and the bloody escalation it is practicing, which has killed 40 martyrs since the beginning of the year, including 16 martyrs this month, stressing that our people are united in the face of the occupying, killing and terrorism machine.

PNC called on the Arab and Islamic institutions and their parliaments to assume their full responsibilities, to leave the crimes of the occupation spectators square, or condemnation at best, to carry out their legal, Arab and religious duties towards Palestine, its people, and its Christian and Islamic sanctities, especially the blessed AI-Aqsa Mosque. And to take practical and effective steps that strengthen the Palestinian people, to stop the aggression and crime against the Palestinians sons, children and elders.

The United Nations, Secretary-General and the Security Council are to restore the UN credibility, and to activate the legal mechanisms and procedures guaranteed by international law, the Geneva Conventions and the Statute of the Criminal Court, PNC called on, to hold the Israeli occupation accountable and punishable for its violations and crimes against the Palestinian people, and to provide urgent international protection for the Palestinians, as stipulated in the Fourth Geneva Convention and its 1977 two Protocols, the Hague Convention, and the implementation of the 2018 UN General Assembly resolution on the protection of Palestinian civilians.

All these crimes and blind terrorism will never subdue Palestinian people, PNC affirmed, and will continue their struggle, adhering to their legitimate rights to self-determination, return to their land, and the establishment of the Palestinian state with Jerusalem as its capital, stressing that achieving security and lasting peace can only be achieved through the implementation of international legitimacy resolutions that stipulate the end of this colonial settlement occupation of Palestine, and that the Palestinian people obtain all the legitimate rights.

Silent protest at Galleface against shooting at Rambukkana (VIDEO)

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A silent protest was held at the Galleface ground in objection to the shooting at Rambukkana area.

The public protest demanding the stepping down of the President and the Government continues at the Galleface ground for the 11th consecutive day today and these demonstrators have lit and risen up the torch in their mobile phones in objection to the Police shooting at Rambukkana.

MIAP

International Community condemns violence in Rambukkana, calls for full, transparent probe

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The United States Embassy has raised strong concerns over the events in Rambukkana, condemning the violence and calling for a full and transparent investigation.

“I am deeply saddened by the horrible news coming out of Rambukkana. I condemn any violence – whether against protesters or police – and call for restraint & calm from all sides. A full, transparent investigation is essential & the people’s right to peaceful protest must be upheld,” US Ambassador to Sri Lanka Julie Chung said in a tweet.

MIAP

Police curfew imposed in Rambukkana until further notice: Police

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Police curfew has been imposed in Rambukkana in response to the tense situation arisen, the Police Media Spokesman said.

The police curfew will stand in effect until further notice, he added.

MIAP

Unrest in Rambukkana: Media barred, Police assaulted residents!

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The tense situation awakened upon the Police’s attempt to dissolve a protest held in Rambukkana area has intensified, leading to a continuous assault on residents at the hand of the Police, reports claimed.

Certain media reports claimed that media has been barred from entering the premises.

Education Secretary of the Frontline Socialist Party Pubudu Jayagoda has made a Facebook remark on the event, confirming the event.