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Govt. formally requests for IMF support programme

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The Government sent the formal request for a support programme to the International Monetary Fund (IMF) last week.

The letter by Treasury Secretary S.R. Attygalle had indicated the Government’s readiness for an IMF program as well as requests for relevant meetings to discuss it during Finance Minister Basil Rajapaksa’s visit to Washington DC in mid-April.

In parallel, the Finance Minister will also meet with officials of the World Bank during his stay in Washington DC.

Sources said that the request is being channelled via Sri Lanka’s Alternative Executive Director in the IMF Dr. Chandranath Amarasekara.

The letter follows President Gotabaya Rajapaksa on Wednesday informing the nation that the Government has decided to engage with the IMF.

In his address, the President said the Government initiated discussions with international financial institutions as well as with friendly countries regarding repayment of loan installments.

“The Government is in discussions with various parties to implement a new method regarding this which will be beneficial to our country,” said the President, who also referred to his discussion with the visiting IMF delegation earlier last week.

“Through those discussions, we hope to find a way to pay off our annual loan installments, sovereign bonds, and so on. Subsequent to my discussions with the IMF, I have decided to work with them after examining the advantages and disadvantages,” the President said during his address to the nation.

The Government’s decision was despite reservations repeatedly expressed by Central Bank Governor Nivard Cabraal that Sri Lanka does not need to go to the IMF as “home grown” solutions were adequate and delivered the desired results.

Sri Lanka has nearly $ 7 billion in foreign debt servicing this year and a further $ 25 billion between 2023 and 2026.

IMF Communications Department Director Gerry Rice on Friday in response to international media questions acknowledged that Sri Lanka is clearly another country facing mounting economic challenges.

He said that in the Article IV consultation recently, the IMF highlighted the urgent need to implement a credible and coherent strategy to restore macroeconomic stability and debt sustainability while protecting vulnerable groups through strengthened well targeted social safety nets.

Though noting that he was not in a position to share further details, Rice said: “But I can tell you we stand ready to discuss all options for Sri Lanka.”

No matter what, this government cannot be overthrown – Mahindananda

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The Minister of Agriculture Mahindananda Aluthgamage has stated that the present government cannot be overthrown no matter what the opposition politicians say or do.

“We are well aware of this difficulty. We are well aware of the burden. As a sensitive government, we accept that responsibility. Give us a little time. When three or four members of parliament say one thing or another when Sajith Premadasa brings people to the Galle Face Green they think that the government will fall. We give the people of this country the assurance that this government cannot be overthrown ”

Minister Mahindananda Aluthgamage stated this addressing a meeting of the Sri Lanka People’s Front held yesterday (21).

The price of 30 units of electricity will be increased by 500% soon – Dayasiri

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Minister of State for Batik Dayasiri Jayasekara says that the electricity bill will be increased soon and a proposal has been made to increase the price of 30 units by 500%.

“The gas cylinder which was sold at Rs.2180 increased to Rs.4199. The price has gas has increased by Rs. 1500 now. We cannot even predict the current prices. I think the electricity bill will increase again soon. As I have now heard, according to the proposal given to the CEB, the price of 30 units will be increased by 500%. People will have to stare at light bulbs instead of using them. Even the backbenchers of the government say that this journey is wrong and that something should be done for this ”

Dayasiri Jayasekara stated this addressing a meeting held yesterday (21).

Minister Lokuge’s driver killed from assault!

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It is reported that the driver of the Minister of Energy Gamini Lokuge has been assaulted with poles and stabbed to death with a sharp weapon.

The deceased has been identified as a 41 year old father of two from Kesbewa who was the driver of the minister’s security vehicle.

On the road in front of the driver’s house, a youth was speeding and the driver advised him to slow down.

The enraged youth had returned with another group and had beaten the driver with poles and a sharp object and the driver had succumbed to his injuries after being admitted to the Piliyandala District Hospital.

Although the police launched an operation last night (21) to find the persons involved in the murder, it was reported that they had fled the area.

Kesbewa police are conducting further investigations.

New Anthoney’s Farms e-commerce platform ‘Dorakadapaliya’ brings fresh chicken to consumers’ doorstep

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Photo Caption:
New Anthoney’s Farms delivery fleet

With the view of constantly evolving with the ever-changing consumer landscape, New Anthoney’s Farms (Private) Ltd, a name that continues to capture hearts and minds when it comes to quality fresh poultry unveils a whole new experience of ordering chicken and getting it delivered for free islandwide through their ‘Dorakadapaliya’ e-commerce platform.

Dorakadapaliya solely dedicated to delicious chicken products was the first of its kind in the country, delivering the best and safest chicken right to its customers’ doorstep, with a variety to choose from including the popular HarithaHari range. Dorakadapaliya offers an island-wide delivery that is completely free of charge, and customers can now just order with the click of a button in the comfort of their home, giving them utmost ease and convenience.
In addition to the HarithaHari range which also comes with biodegradable packaging that can be recyclable or compostable, consumers can order their mouthwatering crispy chicken range ‘Crizzpy’s’, chicken range serving convenience at its best ‘Chico’, or spiced chicken range with all natural ingredients ‘SpicyDycy’ which can be grilled, baked or BBQ’d and a real treat for parties and any special occasions, and a premium range that offers cook-ready chicken conveniently cut, chopped, cubed and packed.
‘We are delighted to introduce our online store after hearing out to our loyal customers from across the island. Being in the food business, customer intimacy is our priority and many of our initiatives are centered around this. For us this is not just merely a channel expansion but more of a basic complement to our strong relationships fostered among the households where our quality chicken is delightfully consumed,’ said Neil Suraweera, CEO at New Anthoney’s Farms.

New Anthoney’s Farms Haritha Hari is an all-natural process that is nutrient-rich and free from any antibiotic or hormones including its feed completely made of natural ingredients. Raising healthy poultry, with a spacious and stress-free environment for them, is of crucial importance to New Anthoney’s Farms, and the responsibilities towards animal welfare, safety and health standards is a philosophy that is built into the producer’s culture, complying with practices to that of the National Chicken Council, USA.

Business magnet Dhammika Perera calls on all party proposals to fix Forex crisis   

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Describing the current situation in the country as unprecedented in Sri Lanka’s history, top business leader Dhammika Perera yesterday said it could be resolved quicker if President Gotabaya Rajapaksa invites credible and practical proposals from all political parties.

“The multiple crises in the country caused by global and domestic issues have damaged Sri Lanka’s nation brand and the reputation. This has far-reaching repercussions in terms of attracting much-needed Foreign Direct Investment (FDI) and debt and equity capital and tourists as well as buyers for our exports,” Perera said. 

In that context, Perera, who was among the 16 business leaders and economists appointed by President Rajapaksa to advise the National Economic Commission, said the immediate need is to restore confidence among international investors, lenders, buyers, tourists as well as global and multilateral organisations.

“To achieve positive nation branding, it is essential to have practical short-term solutions and strategies for one year by all political parties,” emphasised Perera adding that in effect such a course will effectively tell the world that Sri Lanka is pursuing a national solution to a national crisis.  

“ All poltical parties urgently need a bipartisan mindset and approach to quickly restore confidence and resolve the crises,” he added.

Perera said suggestions to be sought by the President, must include the economic impact on each proposed item. Necessarily each proposal must be accompanied by its direct impact on the dollar-savings or earnings, or both computed on an annual basis.

“Irrespective of party politics, given the serious nature of the crisis this strategy of making all political parties stakeholders of the solution is more credible and fosters democracy and unity. 

It will ensure public support at an unprecedented crisis time like today thereby eliminating any chances for social unrest in the national interest,” Perera pointed out.

“This approach will showcase a united nation branding strategy, sending a strong message globally that in Sri Lanka a crisis solution transcends political ideologies,” he added. 

Perera was insistent that only through such an intensified and genuine all party and national effort in the next one year along with a support program from the International Monetary Fund (IMF) as expressed by President Rajapaksa can pull Sri Lanka out of the current serious situation.

Agroforestry on SL tea and coconut plantations promoted with Netherlands aid

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The Government is now focusing attention on expanding agri crop cultivation in barren lands in areas other than tea and coconut plantation areas
Further it will explore the possibility of cultivating other agri crops in tea and coconut plantation lands and it is at experimental level.

This was disclosed by the Minister of Plantations Ramesh Pathirana when he addressed the ceremony organized in connection with the introduction of the pilot project in “Agroforestry on pilot on tea and coconut plantations in Sri Lanka”.
Tea and coconut play a critical role in the Sri Lankan social, economic, and political domains. As the fourth largest tea producer in the world, Sri Lanka annually produces over 300,000 metric tonnes of tea, which is around 17% of the total need of tea users.
Sri Lanka is placed fourth in the extent of coconut cultivating lands from the global agricultural land area. Many direct and indirect employment opportunities are generated in coconut and coconut-based industries.

Most of the tea plantations are situated in the Central, Sabaragamuwa and Southern provinces. The major portion of coconut holdings in Sri Lanka (nearly 75%) belong to smallholders while the rest belong to the estate sector where both private and government companies hold ownership.

Even though the contribution of the smallholder sector to the total annual coconut production is 70%, it is not yet organized well and as such is managed far below optimal levels

Although tea and coconut industries play a major role in the Sri Lankan economy, both tea and coconut plantations face several issues including land degradation, aging plantations, adverse impacts from climate change, lack of skilled labour, lack of capacity to adopt new international standards and international competitiveness from new arrivals.

Land degradation including fragmentation is a critical challenge that results in negative impacts on environment, economy, and human wellbeing. Therefore, improving degraded land in tea and coconut plantations is a timely action, which will give regional, national and global benefits.

The Government of Netherlands through its Netherlands Enterprise Agency (RVO) has designed an initiative to introduce two pilot projects in degraded lands, one for coconut and one for tea. RVO is engaging the Tea Research Institute and Coconut Research Institute along with Universities in the project.

IUCN Sri Lanka as the local anchor point for the RVO Netherlands will use IUCN flagship landscape management tools such as ROAM and INVEST, along with the local experience IUCN has gained during the last 30 years of working with different ecosystems.

IUCN will mobilize stakeholders and will also bring in partners together. Further, IUCN will facilitate testing viable business models in the plantation sector in Sri Lanka.
Overall, IUCN will play the role of bringing a new dimension to the use of agroforestry models in tea and coconut plantations in Sri Lanka in a more feasible and sustainable manner.

The project aims to facilitate a public-private partnership to pilot an agroforestry approach in degraded coconut and tea plantations, with the aim to enhance environmental as well as socio-economic sustainability of the production systems at the pilot plantations
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For the long term, the project aims to develop guidelines on how to sustainably manage degraded lands in tea and coconut plantations, by applying an agroforestry approach.

The project will empower a mechanism, facilitated by a team of experts, to coordinate and create active partnerships with key actors (both direct and indirect) of the two sectors to review, upscale and institutionalize agroforestry practices in the tea and coconut plantations in Sri Lanka.

IUCN will engage in establishing and running a well-functioning local project management team, which will facilitate the dialogue between the key sectors involved in the project, with the aim of learning together and compiling lessons learned for upscaling of agroforestry practices in tea and coconut plantations in Sri Lanka.

Newly Appointed Egyptian Ambassador to Sri Lanka calls on the Minister of Foreign Affairs

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The newly appointed Egyptian Ambassador to Sri Lanka Maged Mosleh called on the Minister of Foreign Affairs Prof. G.L. Peiris on 19 March, 2022 at the Ministry of Foreign Affairs in Colombo.

Minister Peiris extended a warm welcome to Ambassador Mosleh and stated that he looks forward to working closely with him during his tenure in Sri Lanka. Minister Peiris and Ambassador Mosleh also held wide-ranging discussions related to the multi faceted bilateral cooporation between the two countries and exchanged views on important global contemporary issues. Minister Pieris also appraised the Egyptian Ambassador on the progress being made by the Government of Sri Lanka with regard to reconciliation and human rights.

Minister Peiris expressed his deep appreciation to the Egyptian Ambassador on the intervention of the Republic of Egypt in support of Sri Lanka at the Interactive Dialogue on Sri Lanka at the 49th session of the UN Human Rights Council. He stated that Sri Lanka valued the bilateral cooperation and solidarity between the two countries in multilateral fora. Minister Peris also discussed Sri Lanka preparations for the 51st session of the UNHRC.

Foreign Minister further stated that Sri Lanka would continue its decades – long policy of engagement with the UN as well as with the international community in a spirit of cooperation and dialogue with regard to the promotion and protection of human rights and added that Sri Lanka would abide by its human rights obligations guaranteed by its constitution and the international obligations it has voluntarily undertaken.

Minister Pieris requested the continued cooperation and support of Egypt to Sri Lanka in the Human Rights Council in the future particularly during the 51st session. Ambassador Maged Mosleh assured Egypt’s continuous support to Sri Lanka at the UNHCR including its upcoming 51st session.

Appreciating the longstanding cordial relations, both sides discussed and were in agreement to organise commemorative events to mark the 65th anniversary of the establishment of Sri Lanka – Egypt diplomatic relations in 2022.

During the meeting expediting the conclusion of the pending draft agreements and MoUs, enhancing cooperation on combatting extremism, promoting tolerance and mutual understanding, de-radicalisations, interfaith dialogue through Egypt’s prestigious cultural and religious institutions and holding the second session of Bilateral Political Consultations between the Ministries of Foreign Affairs in Colombo in 2022 were  also discussed.

The discussions also covered regional and international developments of mutual interest and enhancing coordination with likeminded regional blocks.

Officials of the Ministry of Foreign Affairs and the Embassy of Egypt in Colombo were associated with the meeting.

Ministry of Foreign Affairs

Colombo

21 March, 2022

India Sri Lanka Foundation: Invitation for Project proposals

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The India – Sri Lanka Foundation (ISLF) was established by a Memorandum of Understanding between the governments of India and Sri Lanka in 1998 in order to foster India – Sri Lanka relations through the enhancement of economic, scientific, technical and cultural cooperation and to promote greater understanding between the people of the two countries.

India- Sri Lanka Foundation invites project proposals, in the areas of Art & Culture Education, Agriculture, Research, Science & Technology, Health, Social Works and Developmental Studies.

Under the above thrust areas, proposals could be submitted for research projects and other educational activities at recognised institutions of learning located in India and in Sri Lanka, visits and exchanges involving students, scholars, academics, artists, professionals and performing artistes, to participate in conference/seminar, symposia, art exhibition, film festival, cultural events and training workshops etc, publication of research works on India-Sri Lanka relations in the specified fields and translating literary works in Indian languages to Sri Lankan languages and publishing them, and vice-versa.

Individuals, institutions and groups are invited to submit proposals which would be considered during the next meeting of the Board of Directors of ISLF scheduled in April 2022.

A duly filled application form which could be downloaded from the High Commission of India website (www.hcicolombo.gov.in) along with the proposal may be e-mailed or forwarded to our address given below to reach us before 4th April 2022.

India Sri Lanka Foundation

National Economic Commission tenders five recommendations to solve crisis

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The National Economic Commission appointed by President Gotabaya Rajapaksa comprised of 16 leading business leaders and economists has tendered five recommendations for immediate implementation to troubleshoot the prevailing economic crisis in the country.

  • Immediate appointment of a Technical Committee consisting of officials representing the Central Bank of Sri Lanka and the Treasury to propose international financial assistance.
  • Immediate appointment of a financial advisor and a legal advisor.
  • The Technical Committee should expeditiously come up with a restructuring initiative to propose international financial assistance.
  • An expert team to assist the Finance Minister should be identified.
  • Building trust should be focused by avoiding supply barriers.

The Commission further recommended that short and long term measures be taken to strengthen financing to stabilise the economy and steer it in the right direction.

Sri Lanka too is experiencing the repercussions of the impact on the economies of many countries around the world and among them is the forex crisis at the forefront. It is the Commission’s observation that the prevailing economic meltdown be avoided in the short term by properly managing the challenges faced.