People of Pelawatta expressed their strong objection to former Public Security Minister Sarath Weerasekara as he was present in his vehicle near a fuel station yesterday (27).
Furious over his presence in the open, the people have scolded the former Minister and chased him away, footage reveals.
MIAP
Foreign exchange income from tourism, the largest services inflow to Sri Lanka after remittances, more than halved in May as the island nation’s economic crisis and the resultant social unrest appears to be getting worse, Sri Tourism Development Board sources said.
As a result, the industry which began the year with hopes to make the most from the pent-up travel demand after the pandemic, is now bracing for yet another challenging year.
Industry stakeholders are making up their minds for about a billion dollars worth of income in 2022, less than a third of what the industry was forecasting to achieve at the start of the year.
According to the earnings data published by the Central Bank, the industry saw its earnings plunging to US$ 54.3 million in May, less than half of US$ 113.3 million earned in April and less than a third from US$ 191.5 million earned in March.
The decline in earnings in May was in lockstep with the decline in arrivals which also halved to 30,207 from April and plunged 72 percent from March levels as travel advisories were issued by several top sourcing markets in May.
With May’s earnings, the cumulative earnings from the trade in the first five months stood at US$ 680.7 million.
Sri Lanka’s tourism industry was off to a fine start with stakeholders expecting to attract over two million tourists and bringing in US$ 4.5 billion in earnings in 2022.
However, the collapse of the Sri Lankan economy by the latter part of March and the resultant shortages and social unrest kept visitors at bay.Now the industry is aiming at just about a billion dollars in the year at the most.
“Even in this calendar year, if we all work together, there is a strong possibility that tourism can contribute close to a billion dollars to meet the country’s need of foreign exchange for essentials and other requirements,” stated Hiran Cooray, the Chairman of Jetwing Symphony PLC, which runs a portfolio of resorts and a city hotel, in his annual letter to shareholders.
The industry also awaits the extension of the debt moratorium on their loans by a further six months through December 31, 2022 as the last leg of the payment holidays comes to an end on June 30 in order to stay afloat.
While the Cabinet has granted its approval for an extension in the payment holiday for the sector, the industry awaits official instructions from the Central Bank this week with specifics on how the concessions would be deployed.
The tourism industry has been under payment holidays since the Easter Sunday attacks in April 2019, as its recovery thereafter was twice beset by pandemic-induced lockdowns and border closures in 2020 and 2021 and, then by the economic crisis in 2022.
Power and Energy Minister Kanchana Wijesekara and Environment Minister Nazir Ahamed have left for Qatar last (27) night, based on an invitation from the Emir of the Kingdom of Qatar, reports said.
The two have left aiming discussions regarding Sri Lanka’s fuel requirement and foreign employment.
MIAP
World’s leading credit rating agency Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Foreign Exchange Ratings from CC to ‘Restricted Default’ (RD).
BOC was the local commercial bank with the highest international reputation for letters of credit (LCs) in importing goods to Sri Lanka.
Once known as the ‘Bankers to the Nation,’ the BOC’s fate today is a result of the decision made by the Central Bank of Sri Lanka (CBSL) to declare a forex debt default.
MIAP
Minister Dhammika Perera speaking to a political programme aired on TV Derana said he took over the Ministry of Investment Promotion with the intention of spending Rs. 50 million a month on personal wealth to expedite its affairs.
“One thing, I must say. If I was to work by calling in tenders, it will take a lot of time. Therefore, I took over this ministry with the intention of spending Rs. 50 million a month on personal wealth as well. So, I will be able to do anything with an amount like that. I sat on this chair by allocating a budget as such for me. Otherwise, I have no intention of owning the government’s money. I am donating Rs. 50 million a month on my personal wealth for the people. Dhammika Perera is not somebody who waits for three months by calling in tenders for affairs. If I want it now, I want to collect it by evening. You cannot collect the government’s money by evening, can you? That being said, private monies are spent. So, I sat on this chair in preparation for everything.”
MIAP
The Two Nande’s will bury Sri Lanka soon.
The big Nande President Gotabaya destroyed a healthy country and economy that was doing reasonably ok despite the pandemic by refusing to go to the IMF for emergency financial assistance , Get assistance from the G20, killed the agriculture industry and finished the reserves by defending the LKR. However he refuses to step-down. Though every other Rajapakse has gone home. The unscrupulous people made use of it and according to market sources converted their LKR and made super profits when LkR was devalued some months later. His business cronies made huge money and now stay out of the radar.
Then another Nande came in the form of a Governor of the CBSL and defaulted on the loans without consulting the creditors or parliament. Sri Lanka now is next to Sudan and Venezuela . He doubled interest rates and destroyed the small businesses for ever. He has no clue how the tourism industry works. He wants them to shut down or start again. This is the only industry that will help the country to recover. He has shut down the open account. Refusing to gazette the 10 essential items in the open account. He does not care about a food shortages. He refuses to allow fuel imports on the open account to ease the oil crisis. When the public finally realizes the damage Nande’s causing to the ordinary people and the country. Whilst it will be too late for the country. He will either have to run away back to his home country in Australia or face the same fate Mahinda Rajapakse faced on the 9 th of May.
The Governor’s actions are causing serious consequences for the public and
the government. He just does not have the practical experience or knowledge to lead the economy during crisis times. President Gotabaya again shows no concern for the public as demonstrated throughout his tenure, by allowing Nande to run a-mock without taking any action.
Adolf
Fuel will be supplied only to vehicles attached to essential services, with effect from midnight today (27), said Minister Bandula Gunawardena.
The restriction will stand in effect till July 10, the Minister noted, speaking to the briefing held in announcing Cabinet decisions today.
Accordingly, the Ceylon Petroleum Corporation (CEYPETCO) will supply diesel and petrol only to essential services such as ports, health sector, essential food distribution, and transportation of agricultural products, he added.
The Minister also noted that the government will implement a mechanism to provide a continuous supply of gas and fuel after July 10.
Inter-provincial transport services will be temporarily halted due to the limited availability of fuel, Gunawardena noted.
MIAP
Sri Lanka is now facing unprecedented fuel and food crisis paralysing the whole country and the people will have to starve as a result of the break down in the supply chain with in the next few weeks, traders and food commodity transporters claimed.
With only a few container transporters in operation, the food commodity stock transportation has become stand still due to shortage of diesel and priority should be given to this sector in providing diesel that is vital in resuming transportation of food commodity stocks between the port and the export zones as well as key markets countrywide.
The All Island Container Transport Owners Federation Chairman Sanath Manjula noted that for about several weeks there has been an acute shortage of diesel as a result of which only a few 0 of their container transporters are in operation in the Western province specially Colombo at present.
He noted that currently they are operational only within Colombo since they do not have any fuel available outside of the commercial capital.
Fuel distribution has become stand still except the supply to Ports , Ceylon Electricity Board , SL Army and bus depots .
The Ceylon Petroleum Corporation (CPC) is now not in a position to meet the daily diesel demand of 6000 MT and 3500 MT of Petrol, official sources confirmed.
The current balance stock of fuel at Kollonnawa and Muthurajawela storage terminals was 10,000 MT of diesel and 1000 MT of 92 octane petrol and 4000 MT of 95 octane petrol and 11 fuel distribution centres of Ceypetco have been keeping closed.
25 percent of power generation is still being carried out using thermal power generators and the public transportation has become near standstill.
Paddy harvesting of Batticaloa and Ampara paddy fields is ready to commence but harvesting machines cannot be operated without diesel as there was no supply to these areas up to now, several agrarian officials said.
Prof. Nedalagamuwe Dhammadinna Thero who is accused of being involved with the attack on former Minister Prasanna Ranatunga’s house during a series of attacks awakened throughout the country on May 09 has turned himself in to the Police.
The Thera is a professor of the University of Kelaniya and was accused of involvement by Ranatunga in Parliament recently.
Upon recording a statement, the Thera will be produced before the Gampaha Magistrate Court, the Gampaha Police said.
MIAP
The United States has agreed to provide technical assistance for fiscal management in Sri Lanka.
Kelly Keiderling, Deputy Secretary of State for South and Central Asia at the U.S. State Department, who arrived in Sri Lanka yesterday, held a discussion with Prime Minister Ranil Wickremesinghe today (27).
The US Diplomatic Group also stated its support for the ongoing talks between the Government of Sri Lanka and the International Monetary Fund.
Robert Kaproth, Deputy Assistant Secretary of the Treasury for Asia in the United States and H.E. Julie Chung, US Ambassador to Sri Lanka, also participated in the discussion held at the Prime Minister’s Office.
In addition, Secretary to the Prime Minister Saman Ekanayake and Senior Adviser to the Prime Minister Dr. R.H. Samaratunga was also present.
Prime Minister’s Media Division
27th June 2022
