Search
සිංහල
தமிழ்
Home Blog Page 2289

Sri Lanka and Indonesia resume negotiations on PTA soon

CN
-
0
Sri Lanka and Indonesia resume negotiations on PTA soon

Sri Lanka and Indonesia are to resume negotiations soon on the Preferential Trade Agreement (PTA) between the two countries which was initiated during the previous regime in 2018. ,

Indonesian Ambassador to Sri Lanka Dewi Gustina Tobing and Sri Lanka Trade Minister Bandula Gunawardane agreed to resume immediate negotiations on the PTA between the two countries, SL Trade ministry confirmed.

They reached the agreement during a meeting at the office of the Sri Lanka Trade Minister on Friday (Feb 11, 2022), the Indonesian Embassy in Colombo said.

It is believed the negotiations on PTA will have a significant impact to enhance economic and trade relations between the two countries.

Hopefully, the PTA will allow more and more Indonesian products to enter the Sri Lanka market, the ambassador said.

“It (PTA) will allow (Indonesia) not only to meet Sri Lanka’s domestic needs but also to take maximum advantage of Sri Lanka’s potential as a hub for trade and part of free trade agreement in the Asian region,” she said.

Regarding Sri Lanka’s policy restricting and banning the import of non-essential products to the country, the ambassador said she has encouraged the Sri Lanka government to lift the policy so that trade between the two countries will not be disrupted.

Trade Minister Lanka Bandula Gunawardane said the import restriction and ban is temporary in nature and will be revoked in the near future.

The ambassador and the minister also discussed efforts to increase trade relations through a joint venture scheme and investment.

The Ambassador asked Sri Lanka to give Indonesian palm oil wider access to the Sri Lanka market.

While Sri Lanka pays attention to sustainable environment , she said the Indonesian agriculture and plantation also apply environmentally friendly standard and necessitate palm oil products to secure Indonesian Certificate of Sustainable Palm Oil (ISPO).

In response, Minister Bandula expressed his country’s wish to import Indonesian palm oil under a credit scheme.

At the meeting, the ambassador also invited SL Trade Minister to visit Indonesia to follow up on potentials for trade cooperation between the two nations.

It 2019 the tow countries signed three MoUs in the fields of Search and Rescue (SAR) ; Higher Education, Research and Technology ; and, Cooperation against Trafficking in Narcotic Drugs, Psychotropic Substances and their Chemical Precursors.

Recognising the vibrant maritime connectivity between Sri Lanka and Indonesia, the two countries discussed a wide range of issues of mutual interest pertaining to trade and investment, and reaffirmed their commitment to deepen and broaden economic collaboration.

They acknowledged the need to harness the untapped potential, which exists in the bilateral economic sphere and emphasised the need for the early establishment of the Joint Working Group on Trade and Investment.

They agreed that a joint feasibility study be undertaken for a possible comprehensive bilateral free trade agreement.

Both countries agreed to explore possibilities of capacity building in human resource development, agriculture, aquaculture, fisheries, disaster management and vocational training.

Recognising the significance of bilateral defence cooperation, the two countries exchanged views on training of military personnel, combating illicit drug trafficking and sharing of intelligence.

SL cost of living soars, people eating less nutritious foods:FAO

CN
-
0
SL cost of living soars, people eating less nutritious foods:FAO


Sri Lanka’s vulnerable households have apparently reduced their food consumption or switched to comparatively cheaper but less nutritious foods, with an overall negative effect on their food security, health and nutrition status, an update from a UN agency said.

This was highlighted in the Global Information and Early Warning System (GIEWS) update issued  by the United Nations’ Food and Agriculture Organisation (FAO) on January 26.

THE Un agency noted that as rice, wheat and sugar products account for about 40, 12 and 10 percent respectively of the average calories intake, many families had reduced their food consumption due to skyrocketing inflation owing to the rupee’s depreciation coupled with the fertiliser crisis and a fuel shortage.

Prices of rice, the country’s main staple food, surged in most markets between September and November last year. However, after being quite stable in December, prices began to increase significantly in January, reaching new record highs, more than 50 percent above their year-earlier levels, the update noted.

Price increases were underpinned by the depreciation of the rupee and concerns over the production of ongoing harvest of the “Maha” season mainly due to shortages of fuel and fertiliser.

 “Similarly, prices of a wide range of imported basic food items, including wheat flour, sugar, dried milk and pulses have increased since last September and reached, in many cases, high levels in January.”

Noting government attempts to improve the availability of basic foods, mainly rice and sugar, in domestic markets and limit their price increases worked briefly last year, the report found further depreciation of the rupee since October last year offset the impact of these measures, immediately triggering further price increases.

“As a response, the Government decided to import 100,000 tonnes of rice in late September, followed by 300,000 tonnes in early January, the largest imported amount since 2017 when domestic production was decimated by a severe drought,” the report noted.

High prices of agricultural inputs, including fuel and fertilizer, are likely to result in their reduced application, with a negative impact on yields of the main season crop. Production costs are also anticipated to rise, adding upward pressure on the already high cereal prices, the report said.

Fuel price formula, power cuts coming soon with no dollars more

CN
-
0
Fuel price formula, power cuts coming soon with no dollars more

Sri Lanka is to experience power cuts, fuel price hike, food shortage, coupon systems and rationing of essential commodities with the worsening of dollar situation setting the stage ready for the repetition of 1970 closed economy plight for the people, several economic experts warned.

The line of cars stretches for blocks. Fuel pumps run dry, food shortage, coupon systems and rationing of essential food items and clothing with the worsening of dollar situation.

This current economic situation incited alarm that an eminent economic expert said was worse than 1970 debacle     

The Energy ministry has no option other than imposing power cuts within two weeks while the Ceylon Petroleum Corporation pressurizes the government to introduce fuel price hike.

However Energy Minister Udaya Gammanpila has ruled out fuel price hike but suggested to the cabinet of ministers to allow him to introduce a cost reflective price formula for fuel which was already devised by the ministry.

 Despite all these difficulties, the CPC has urged the Energy Ministry to negotiate for US$ 1billion loan from China, Singapore or West Asian countries as a patch up solution.   .

This attempt is being made at a time where the 180-day credit facility from the Petro-China Company is expiring this month prompting it to call for fresh tenders.

Adding fuel to the fire, the CPC  made every effort to find  US $ 700 million  to settle its debt  obtained for fuel purchase by the end of this month ,Energy Ministry Secretary K.D.R. Olga disclosed. .

She said it was the responsibility of the Central Bank to provide to the banking system $ 700 million to be paid to the Bank of Ceylon and the People’s Bank.

According to Energy Ministry secretary  the $ 330 million due to be paid for the fuel purchased subsequent to opening LCs in June-July 2021 is due to mature by the end of this month. 

Another $ 350-400 million has to be paid by the CPC at the end of this month for fuel purchases for February. The total is about $ 700 million.

Sri Lanka’s banks are being asked to share payments for fuel and essential items like food, Central Bank Governor Nivard Cabraal said as lack of dollars at banks delayed clearing of letters of credit for fuel.

Usually state banks opened letters of credit for fuel imported by state-run Ceylon Petroleum Corporation.Top state bureaucrats had previously stopped state agencies from dealing with private banks.

Governor Cabraal said private banks will also now have to pay for fuel imports, not just state banks.

COVID pandemic’s ‘acute phase’ could end by midyear: WHO

CN
-
0
COVID pandemic’s ‘acute phase’ could end by midyear: WHO

The head of the World Health Organization has said the acute phase of the pandemic could end this year, if about 70 percent of the world gets vaccinated.

“Our expectation is that the acute phase of this pandemic will end this year, of course with one condition, the 70 percent vaccination [target is achieved] by mid this year around June, July,” Tedros Adhanom Ghebreyesus, told reporters in South Africa on Friday.

“If that is to be done, the acute phase can really end, and that is what we are expecting. It’s in our hands. It’s not a matter of chance. It’s a matter of choice.”

He was speaking during a visit to Afrigen Biologics and Vaccines, which has produced the first mRNA COVID vaccine made in Africa using Moderna’s sequence.

“We expect this vaccine to be more suited to the contexts in which it will be used, with fewer storage constraints and at a lower price,” said the WHO boss.

The vaccine will be ready for clinical trials in November, with approval expected in 2024.

Afrigen is leading the pilot project, backed by the WHO and the COVAX initiative.

Tedros also urged African countries to back efforts to set up an African medicines regulator.

He said that continental institutions like the planned African Medicines Agency were important because they could cut costs and help fight counterfeit or poor-quality drugs.

Tedros’s comments came a day after Matshidiso Moeti, Africa director for the WHO, said the continent is transitioning out of the pandemic phase of the COVID-19 outbreak. With a more optimistic view, she said Africa is moving towards a situation where it will be managing the virus over the long term.

The pandemic is moving into a different phase … We think that we’re moving now, especially with the vaccination expected to increase, into what might become a kind of endemic living with the virus,” Moeti told a media briefing on Thursday.

“Against the odds, including huge inequities in access to vaccinations, we’ve weathered the COVID-19 storm with resilience and determination,” she said.

Sri Lanka and India finalizes US$1 billion credit line  

CN
-
0
Sri Lanka and India finalizes US$1 billion credit line  

Sri Lanka and India are now on the verge of finalizing the US$1 billion Indian credit line offered to overcome the country’s dollar crisis.

Progress in finalising the $1-billion line of credit was last reviewed at a virtual meeting between President Gotabaya Rajapaksa and external affairs minister S Jaishankar on January18..

Finance minister Nirmala Sitharaman and Sri Lankan high commissioner in india  Milinda Moragoda on Friday (11) discussed the finalisation of a $1-billion line of credit to be provided by India to the island nation to purchase essential items to tide over an economic crisis.

Moragoda met Sitharaman and conveyed Sri Lanka’s appreciation for the support provided so far by India. 

He thanked her for the personal interest she has taken in supporting Sri Lanka at this “critical time”, according to a statement from the Sri Lankan high commission.

“The high commissioner also followed up with minister Sitharaman on the early finalisation of the $1-billion line of credit to purchase essential items, which is part of the four-pillar bilateral economic cooperation concept,” the statement said.

As part of the four pillar package decided during Sri Lankan finance minister Basil Rajapaksa’s visit to New Delhi last year, the Indian side has so far provided a $500-million line of credit for purchasing fuel and a currency swap of $400 million under the SAARC facility. 

The Indian side has also deferred the payment of $515 million that was due to the Asian Clearing Union.

Progress in finalising the $1-billion line of credit was last reviewed at a virtual meeting between Rajapaksa and external affairs minister S Jaishankar on January 18.

Moragoda also thanked Sitharaman for the assistance provided by India to Sri Lanka as envisaged under the four pillars of cooperation and discussed arrangements for Rajapaksa’s forthcoming visit to New Delhi.

The four-pillar package envisages India supporting Sri Lanka in terms of food and health security, energy security, a currency swap to address the balance of payment issue and facilitating Indian investments in different sectors. 

The $1-billion line of credit will allow Sri Lanka to make emergency purchases of food, medicines and other essential items.

Army ready to tackle all issues on organic fertilizer production

CN
-
0
Army ready to tackle all issues on organic fertilizer production

 The Sri Lanka Army is now involved  in the country’s country’s organic fertiliser production drive on the directions  of President Gotabaya Rajapaksa to make Sri Lanka a ‘green’ country.

A ‘ Green Agriculture Operative Centre has been established to systematically and sustainably fulfill the priorities identified to achieve this objective with the assistance of the army. 

This is being implemented under the direction of the Chief of Defence Staff and Commander of the Army General Shavendra Silva.

The President instructed that this Operative Centre should give priority to a number of functions including the amalgamation of the Colombo Commercial Fertilizers Ltd and the Ceylon Fertilizers Company Limited as the National Organic Fertilizer and Distribution Company, encouragement of production of solid and liquid organic fertilisers.

Addressing a forum of coordinators both physically and virtually on Friday (11), the head of the Green Agriculture Operations Center (GAOC) and Army Commander Shavendra Silva assured that if any logistic need or difficulty such as transportation of those raw materials or produced organic fertilizer stocks prevail, the Army would address and help resolve those issues. 

Specifying the Army’s role targeting the ‘Yala’ season in the national drive, he added that the coordination of many rounds of discussions on the subject had already been conducted and such consultations would continue in close liaison with District Secretariats, Agrarian experts, farming communities and state officials while noting their concerns.

Citing the President’s instructions, General Silva noted that sustained education sessions covering ground level contributors would benefit the objective of the project, which the Army is ready to support. 

Those representatives are thus facilitated at the district level to coordinate with ‘Lak Pohora’ Fertilizer Company, Fertilizer Secretariat, and others. ” Our coordination and observer roles would continue, ” General Shavendra Silva added.

Secretary to the Ministry of Agriculture, Mr D.M.L.D Bandaranayake  stated that the Ministry of Agriculture, State Ministry and the Green Agriculture Operations Center (GAOC) jointly launch the organic fertilizer production and distribution programme at the national level and policy decisions have been taken to avoid practical issues that would erupt during ‘Maha’ season. 

State Minister of Agriculture Shashindra Rajapaksa stated that the production and distribution of Carbonic fertilizer is implemented at the district level with the involvement of each District Secretariat under the close supervision and guidance of the Green Agriculture Operations Centre. 

58 renewable power projects in back burner amidst power crisis    

CN
-
0
58 renewable power projects in back burner amidst power crisis    

Although Sri Lanka energy sector authorities are boosting on a move towards renewable energy, 58 approved renewable projects are still on the back burner due to the failure to implement it, the latest audit report revealed. 

No action has been taken so far to implement the  government’s ambitious programme of generating 70 per cent of the country’s energy needs through renewable energy sources by 2030.

In fact, the Public Utilities Commission of Sri Lanka (PUCSL) issued a statement saying there was no need for power interruptions until Mrach this year as there were sufficient stocks of fuel to generate electricity.

Given the struggle the country is currently facing with regard to power generation, stakeholders of the renewable energy sector came forward to propose what they believe is the solution to the country’s current energy crisis.

But all these attempts of the government have become futile owing to the lethargic attitude of the CFB and other relevant authorities, despite talks and assurances of ruling party politicians.     

Power outages have become a common occurrence in Sri Lanka despite multiple assurances from the Government that sufficient fuel has been purchased for the generation of electricity. 

According to the Auditor General’s Department report, it was unfortunate that the Ceylon Electricity Board has taken no action to expedite the implementation of these 58 renewable energy projects adding 129. 75 Megawatts of power to the national grid.  

 Project developers will have to renew their licences from the Central Environmental Authority, Wild Life Conservation Department and Forest Conservation Department   as the time frame given to them to launch renewable energy projects has already expired.

Action had been taken to obtain proposals for the implementation of 60 solar power plants with the capacity of one MW and 65 bids had been received for 38 power plants. 

Among them, letters had been issued calling for consent from 36 qualified bidders with a capacity ranging between Rs.12.73 KW and Rs.18.37 KW per hour, for 35 power plants. 

Even though dates had been extended that power plants should be commenced on or before 31 December 2020, only the works of 20 power plants had been commenced even by 31 December 2020, the Auditor General’s report divulged.

According to President Gotabaya Rajapaksa’s statement in parliament last month, in the last two years,  the Government has been able to add significant renewable energy capacity to the local power grid using wind and solar power.

“The capacity of the Thambapanni Wind Power Plant, which was commissioned last year and is now successfully operating at 100 MW, will be increased by another 50 MW this year,” he said.

In addition, under the ‘GamataBalagarayak’ programme, work has commenced on the construction of 7,000 small solar power plants with a capacity of 100 kilowatts through local investors, of which 560 megawatts will be added to the power grid within the next two years.

“Also, the installation of rooftop solar panels on the roofs of government offices has commenced with a loan facility of Rs 20 billion signed with India last year,” he added .The construction of the 120 MW Uma Oya and 35 MW Broadlands Hydro Power Plant was nearing completion. The Moragolla Hydro Power Plant was expected to be completed by 2023.

VTASL joins hands with private sector to enrich its talent pool

CN
-
0
VTASL joins hands with private sector to enrich its talent pool

A leading private company has stepped in to provide employment for student following welding courses at the Vocational Training Authority of Sri Lanka (VTASL) with the aim of assisting youth to earn for living in the Covid -19 and omicron pandemic period and its aftermath, official sources said.   

Recognizing the need to recruit qualified, educated, and diverse talent to the company, Sri Lanka’s leading trailer manufacturer and exporter, Tantri Trailers (Private) Limited, recently signed a Memorandum of Understanding (MoU) with the Vocational Training Authority of Sri Lanka (VTASL) to employ students following welding courses at the VTASL.

With the MoU in place, Tantri Trailers will now recruit both skilled and unskilled individuals, who are receiving their training at the VTASL, in order to provide these new recruits with a 360° learning experience. 

This arrangement is mutually beneficial in that it will ensure that Tantri Trailers consolidates its talent-pool with qualified, skilled and proficient individuals, whilst the VTASL will provide its students with the practical, hands-on knowledge and experience they need to complete their training.

Tantri Trailers was founded in 1979 by John Haputantri, an ex-Sri Lanka Navy Officer, and manufactured its first trailer in 1982, with commercial production commencing in 1986.

 As the demand for trailers increased, the business was incorporated and traded as Tantri Trailers (Private) Limited, and began functioning as the the specialized trailer manufacturing and steel fabricating arm of the group from 1991. 

Since then, Tantri Trailers has designed, manufactured, and exported various logistics solutions for the local and global consumer, inclusive of being involved in many heavy steel and metal fabrication projects. 

Today, Tantri Trailers has expanded its product range further, now designing and manufacturing various other goods from trailers to tankers, construction plant and equipment, storage tanks, silos, structures, overhead gantry cranes, and much more. 

Having consistently striven to expand their global market reach, Tantri Trailers presently exports goods to more than 30 countries across the world.

Tantri Trailers possesses the SGS ISO 9001-2015 quality certification for the design, manufacture, marketing, sale, and provision of after-sales services for trailers, semi-trailers, metal structures and tanks. 

With a strong and consistent commitment to always meet the highest quality standards, continuously innovate and implement modern technology in its manufacturing plants and processes, Tantri Trailers is the ideal choice for not only trailers but also for heavy engineering equipment. 

The company has also undertaken the rebuilding of 200 railway coaches for Sri Lanka Railways recently and the project has been successfully completed, further cementing the trust and reputation that Tantri Trailers holds within the industry.

Despite various constraints due to the present market conditions globally, Tantri Trailers looks to the future with renewed ambition, anticipating collaboration with the Vocational Training Authority for island-wide training and recruitment of employees, whilst providing technical job opportunities for unemployed youth across Sri Lanka

12 Rameswaram fishermen held, two boats seized by Sri Lankan Navy

CN
-
0
12 Rameswaram fishermen held, two boats seized by Sri Lankan Navy

The Sri Lankan Navy on Saturday arrested 12 Rameswaram fishermen and seized two of their mechanised boats on the charge of poaching.

According to information available with the fishermen here, over 400 mechanised boats had put out to sea with over 1,200 fishermen on Friday. When 12 of them were fishing near the Dhanushkodi-Thalaimannar region, the Sri Lankan Navy secured them and took them to a camp in Jaffna. They were jailed after being produced in a local court. 

The names of the arrested fishermen were given as Xavier, 43, Raja, 44, Arockiadas, 44, James, 45, Ranjith, 43, Raman, 41, Muneeswaran, 30, Sekar, 35, Mukta, 25, Jeromiyas, 46, Padalam, 59, and Napoleon, 46.

The news came in when members of the fishermen associations in Ramanathapuram abstained from fishing since February 9 to demand the release of 11 fishermen from Akkarapettai in Nagapattinam district, arrested on February 8, and 21 Karaikal fishermen, held last month. They tried to block trains at Thangachimadam on February 11. But the police stopped them. They instead staged a dharna near the railway station.

Fishermen leader Jesu Raja said the community was continuously targeted by the Sri Lankan Navy. “We have no other option but to rely on the governments.”

Thirteen injured after London bar floor collapses

CN
-
0
Thirteen injured after London bar floor collapses

(MENAFN- Colombo Gazette)

Thirteen people have been injured after a mezzanine floor collapsed at an east London pub.

Emergency services were called to the Two More Years bar in Hackney Wick at about 16:50 GMT.

Firefighters rescued seven people who were trapped after the incident.

Paramedics said three people were seriously hurt and 10 more had minor injuries. Four were taken to hospital and major trauma centres.

Hal, a mental health worker and therapist from Stratford was on the mezzanine floor when it collapsed. He managed to escape the fall with a few scratches.

“It sounded like a rumbling – a bit like an earthquake. You can’t be prepared for anything like this,” he told the BBC.

He said he was“pretty much in the middle of the upper mezzanine of the bar” after a football friendly between Clapton CFC and Stonewall FC.

“Thankfully I was able to heave myself out,” he said.

“We all helped each other out.”

Brian Jordan, strategic commander at London Ambulance Service, said the collapse was treated as a major incident and teams from the air ambulance were sent to the site.

London Fire Brigade station commander Sacha Clement said crews found seven people who were trapped upstairs on the remaining part of the mezzanine floor.

“Crews used a ladder to bridge between the floor and the internal staircase to get them safely out of the building,” the station commander said.

LFB said crews from three fire engines from Homerton, Bethnal Green and Leyton fire stations and two rescue units from East Ham and Edmonton stations attended the scene. (Courtesy BBC)

1...2,2882,2892,290...2,404Page 2,289 of 2,404

About us

Quick Links

The latest

Rs. 800 Million Sustainable Agriculture Plan Faces Storm-Test

News 0
The government has approved a new concessional loan scheme...

Weighing Costs and Risks: Sri Lanka’s Emergency IMF Loan Under Scrutiny

News 0
 Sri Lanka’s emergency request for $200 million from the...

Sri Lanka’s IMF Emergency Borrowing: Expensive Shortcut or Necessary Relief?

News 0
 Sri Lanka’s decision to seek emergency financing from the...

Media Freedom Intact, Action Needed Against Fake News – Minister Nalinda Jayatissa

News 0
Media Minister Nalinda Jayatissa has rejected allegations that the...

Sri Lanka Tourist Arrivals Reach 2.25 Million Despite December Slowdown

News 0
Sri Lanka’s tourist arrivals have reached 2.25 million as...

Fraud Complaints Filed Over Postponed Ne-Yo Concert in Colombo

Uncategorized 0
Media reports state that fraud-related complaints have been lodged...

Former Minister Douglas Devananda Arrested by CID Over Missing Personal Firearm

News 0
Former Minister and Eelam People’s Democratic Party (EPDP) leader...

© 2025 Lankanewsweb.net. All Rights Reserved.