Home Blog Page 2334

Sri Lanka records 3.7 percent GDP growth in 2021   

CN
-
0
Sri Lanka records 3.7 percent GDP growth in 2021   

Sri Lanka’s year-on-year Gross Domestic Product (GDP) growth rate for the year of 2021 has been estimated as 3.7 percent of positive growth rate, the Department of Census and Statistics says.

According to a communiqué , the department noted that this positive growth comes against the backdrop of a 3.6 percent contraction in the economy reported in the year 2020.

“Further, the Gross Domestic Product for Sri Lanka for the year of 2021 at constant price has increased up to Rs. 9,881,397 million from Rs. 9,532,909 million which recorded in the year 2020. However, in the year 2020, the real GDP level reduced up to this said level from Rs. 9,890,468 million which recorded in the year of 2019.”

The Census and Statistics Department further stated that in the year 2021, the year-on-year GDP growth rate was calculated based on that reduced level of real GDP.

In addition, the Gross Domestic Product for Sri Lanka for the year 2021 at current price has increased up to Rs. 16,809,309 million from Rs. 15,027,374 million which recorded in the year 2020 registering 11.9 percent of positive change in the current price GDP.

The Census and Statistics Department said three major economic activities of the economy – agriculture, industry and services – have contributed their share to the GDP at current prices by 9.0 percent, 27.8 percent and 57.5 percent, respectively, while ‘taxes less subsidies on products’ component has contributed 5.7 percent of share to the GDP in 2021.

In 2021, all three major activities recorded moderate positive growth rates of 2.0 percent, 5.3 percent and 3.0 percent respectively by agriculture, industrial and services activities, the communiqué said further. These recorded high growth rates come back as a result of the contraction reported in these activities in 2020.

Meanwhile, with regard to the performance in the fourth quarter of 2021, the Census and Statistics Department said GDP growth rate for this period was estimated as 1.8 percent of positive growth in comparison to the 1.3 percent of positive growth recorded in the fourth quarter of 2020.

The GDP for Sri Lanka for the fourth quarter of 2021 at constant price (2010) has increased up to Rs. 2,814,879 million from Rs. 2,766,420 million which recorded in the fourth quarter of 2020.

In addition, the GDP for Sri Lanka for the fourth quarter of 2021 at current price has increased up to Rs. 4,574,030 million from Rs. 4,050,859 million which recorded in the fourth quarter of 2020 registering 12.9 percent of change in the current price GDP.

During the fourth quarter of 2021, the overall services activities have reported 3.8 percent of considerable level of growth rate while the agriculture and industrial activities have reported negative growth rates of 4.9 percent and 0.2 percent.

Sri Lankans fall into abyss without light by their own foolhardiness

CN
-
0
Sri Lankans fall into abyss without light by their own foolhardiness

Crisis ridden government facing repercussions for its policy blunders  began imposing record nationwide 13-hour daily power cuts as it ran out of hydro-electricity on top of a severe shortage of fuel.

The Public Utilities Commission of Sri Lanka (PUCSL) has approved the Ceylon Electricity Board’s request for 13-hour interruptions to the power supply tomorrow (March 31).

The CEB had sought to increase the duration of power cuts to 13 hours due to the unavailability of fuel for thermal power plants

The South Asian nation of 22 million people is in its worst economic crisis since independence in 1948, because of a severe shortage of foreign currency to pay for imports triggered by the government’s failure to take economic policy action on time suggested by eminent economic experts.

The island nations food security is also at a severe risk owing to   government’s overnight policy decision of shifting to organic farming banning the imports of chaemical fertliser to avert dollar crisis.

This  decision boomeranged forcing the government to import organic fertioliser and later chemical fertliser spending millions of dollars un necessarily, economic experts said. 

The state electricity monopoly Ceylon Electricty Board (CEB)  said it was imposing the 13-hour power cut, up from a seven-hour outage since the beginning of the month, because there was no oil to power thermal generators.

More than 40 percent of Sri Lanka’s electricity is generated from hydro, but most of the reservoirs were running dangerously low because there had been no rains, officials said.

Most electricity production is from coal and oil. Both are imported but in short supply as the country does not have enough foreign exchange to pay for supplies.

Meanwhile, the main fuel retailer, the state-owned Ceylon Petrolium Corporation (CPC), said there would be no diesel in the country for at least two days.

The CPC told motorists waiting in long queues at petrol stations to leave and return only after imported diesel is unloaded and distributed.

Fuel prices have also been increased frequently with petrol up by 92 percent and diesel by 76 percent since the beginning of the year.

The government took 12 days to find $44 million to pay for the latest shipment of LP gas and kerosene, officials said.

Colombo imposed a broad import ban in March 2020 to save foreign currency needed to service its $51 billion in foreign debts.

But this has led to widespread shortages of essential goods and sharp price rises.
Many hospitals have stopped routine surgeries, and supermarkets have been forced to ration staple foods, including rice, sugar and milk powder.

There will not be diesel for the next two days owing to a delay in unloading stocks from a ship. a result the public have been urged not to queue at fuel stations for diesel on Wednesday and Thursday.

The Ceylon Petroleum Corporation (CPC) said that the unloading of 37,500 metric tonnes of diesel from a ship has been delayed.

The delay in the unloading will result in stocks not being distributed to fuel stations.However, the CPC said that sufficient stocks of petrol will be distributed to fuel stations.

The Ceylon Electricity Board Engineers’ Union (CEBEU) says the duration of interruptions to the power supply will have to be extended in the coming days, as the remaining stocks of fuel required for power generation activities are now running out.

Addressing a media briefing, the CEBEU’s chairperson Anil Ranjith Induwara said the fuel stocks at the Barge Mounted Power Plant are sufficient only for three more days.

Mr. Induwara, speaking further on the matter, said the CEB is able to supply electricity if the required amount of fuel is provided. He went on to call on the government and relevant authorities including the Ceylon Petroleum Corporation to expedite the measures to supply fuel.

With regard to hydropower generation, the CEBEU chairman stated that despite the water levels of reservoirs dropping drastically, the CEB is capable of supplying 300 MW during the daytime and 700 MW at night.

In response to a question raised by a media person, he said the people will be affected by the power interruptions during the upcoming festive season, if fuel stocks are not supplied and adequate rainfall is not received.

President Gotabaya Rajapaksa chairs the 5th BIMSTEC Summit in Colombo

MIAP
-
0
President Gotabaya Rajapaksa chairs the 5th BIMSTEC Summit in Colombo

President of Sri Lanka Gotabaya Rajapaksa chaired the 5th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit in Colombo on 30 March, 2022 in virtual mode.

The Summit was attended virtually by the Prime Minister of Bangladesh Sheikh Hasina, Prime Minister of Bhutan Dr. Lotay Tshering, the Prime Minister of India Shri Narendra Modi, the Prime Minister of Nepal Sher Bahadur Deuba and the Prime Minister of Thailand General Prayut Chan-o-cha (Rtd.). The Foreign Minister of Myanmar Wunna Maung Lwin representing the government of Myanmar also joined the Summit virtually.  

Opening the Summit, the President of Sri Lanka Gotabaya Rajapaksa stated that since its founding in 1997, BIMSTEC has grown into an important platform for countries in this region to support each other by sharing their experiences, strengths and expertise. He stated that this is especially important given that the region’s geo-strategic importance, economic strength and the size of its populace, which accounts for over one fifth of the world’s population. He further stated that enhanced cooperation between member states will be necessary not only for economic recovery, but also for greater economic prosperity, better public health, and improved regional resilience in the long term. Alluding to the theme of the Summit, ‘BIMSTEC: Towards a Resilient Region, Prosperous Economies, Healthy Peoples,’ the President stated that these aspirations are well reflected in the theme chosen for this Summit and that through collective actions of the leaders of the region, BIMSTEC will gear towards meaningful intra-regional cooperation.

The Summit, taking a significant step towards consolidating the grouping, adopted the BIMSTEC Charter today in Colombo. On this occasion, President Rajapaksa observed that the signing of the BIMSTEC Charter would be a significant step towards increasing the organisation’s role, not just within the region, but also as a driving force from Asia in global affairs.

The President of Sri Lanka highlighted the importance of trade and investments within the BIMSTEC region given its strategic location at the centre of the Indian Ocean and also highlighted that the resources in the Bay of Bengal should be preserved and managed equally.  He called for collectively establishing mechanisms to prevent unregulated, unreported and illegal fishing practices as well as overfishing, which threatens livelihoods in coastal communities.

All the seven leaders at the Summit emphasised the need to accelerate BIMSTEC’s agenda on trade and investment and the need to ensure that private sector and start-ups of the BIMSTEC countries work closer. Adopting the BIMSTEC Master Plan for Transport Connectivity, the leaders reiterated the implementation of projects on maritime, transport cooperation and road connectivity.

The leaders also witnessed the signing ceremony of three legal instruments during the BIMSTEC Summit. Representing Sri Lanka, Minister of Justice Ali Sabry signed the BIMSTEC Convention on Mutual Legal Assistance on Criminal Matter, while the Memorandum of Understanding on Mutual Cooperation between Diplomatic Academies/Training Institutions of BIMSTEC Member States was signed by the Minister of Foreign Affairs Prof. G.L. Peiris. Memorandum of Association on the Establishment of Technology Transfer Facility in Colombo was signed by Secretary to the State Ministry of Skills Development, Vocational Education, Research and Innovation Deepa Liyanage.

Concluding the Summit, President Rajapaksa appreciated the support extended to Sri Lanka during the country’s tenure as the Chair. Assuring Sri Lanka’s support and commitment to the organisation, he handed over the Chairmanship to the Prime Minister of Thailand, the next Chair of BIMSTEC.


Ministry of Foreign Affairs

Colombo

30 March, 2022

Applications are invited from the children of Estate workers

MIAP
-
0
Applications are invited from the children of Estate workers

    Applications are invited from the children of estate workers, for award of scholarshipsby the Ceylon Estate Workers’ Education Trust (CEWET).   These scholarships are available for G.C.E. Advanced Level, Undergraduate courses and for students undergoing Vocational/Technical education in any other Government Technical Colleges in Sri Lanka.

2.     Students     who have passed G.C.E. Ordinary Level (with minimum 6 credit passes) or Advanced Level examination     and   below 25 years of age are eligible to apply for this scholarship.  The completed application forms must be attached with photocopies of birth certificate, result sheet of G.C.E ‘O’ Level or ‘A’ Level, latest salary slip of parents and Estate Superintendent’s certificate regarding parent’s occupation. Application forms could be downloaded at the High Commission of India, Colombo website www.hcicolombo.gov.in

3.     Application forms could also be obtained from   High Commission   of India, 36-38, Galle Road, Colombo-03 and the Assistant High Commission of India, 01A, Mahamaya Mawatha, P.O.Box 47, Kandy.

4.     Duly completed forms should reach the Honorary Secretary, CEWET   c/o High Commission of India, P.O. Box 882, Colombo-03 on or before 29 April 2022.

*****

Colombo

30 March 2022.       

Imran Khan faces major set back due to no-trust vote

MIAP
-
0
Imran Khan faces major set back due to no-trust vote

Pakistan’s embattled Prime Minister Imran Khan on Wednesday shared some details from what he called a “foreign conspiracy letter” with senior journalists and cabinet members, asserting that the document was authentic. Khan had waved a purported letter at a public rally on March 27 and declared that a foreign conspiracy was afoot to remove him from power, touting the Opposition’s no-confidence move against him as a testimony of “foreign funded” move to topple his government. He has, meanwhile, deferred his address to the nation amid the prevailing political situation in Pakistan.

Khan effectively lost majority in Parliament after a key partner of the ruling coalition joined the ranks of the Opposition, which has tabled a no-confidence motion against his government in the National Assembly. The Muttahida Qaumi Movement-Pakistan (MQM-P), a key ally of the Pakistan Tehreek-e-Insaf-led coalition government, with its seven members announced that it has parted ways with the government during a joint press conference of the opposition parties. The voting on the no-confidence motion against Khan will be held on April 3, Interior Minister Sheikh Rashid said Tuesday.

Pakistan plunged into uncertainty on March 8 after the combined opposition submitted the motion with the National Assembly along with a requisition to the speaker to summon the session within mandatory 14 days. Prime Minister Khan, who needs 172 votes in the house of 342 to foil the Opposition’s bid to topple him, is facing his toughest political test since assuming office in 2018 as defections in his party and cracks in the ruling coalition appear to have made his position fragile. No prime minister in Pakistan’s history has ever been ousted through a no-confidence motion, and Khan is the third premier to face the challenge.

A key partner of the ruling coalition in Pakistan on Wednesday said it will support Opposition’s no-confidence motion in the National Assembly, in a major blow to embattled Prime Minister Imran Khan who has now effectively lost majority in Parliament.

Addressing a press conference here, the Muttahida Qaumi Movement-Pakistan (MQM-P), a key ally of the Pakistan Tehreek-e-Insaf-led coalition government, formally announced that it was joining the opposition ranks. “We want to make a new beginning for politics of tolerance and true democracy,” said MQM-P chief Khalid Maqbool Siddiqui.

The Khan government effectively lost majority after the MQM-P with its seven members decided to join the opposition. Another ally of the ruling coalition, the Balochistan Awami Party (BAP) with five members in the lower house had announced on Monday that it had “accepted the opposition’s invitation” to vote against Khan.

The Indian Express

PUCSL approves 13-hour power cut tomorrow!

MIAP
-
0
PUCSL approves 13-hour power cut tomorrow!

A 13-hour power cut will occur tomorrow (31) as approved by the Public Utilities Commission of Sri Lanka (PUCSL).

Accordingly, the power cut plan for tomorrow is as follows;

A,B,C,D,E,F zones:

3-hour power cut from 3 am to 6 pm
4-hour power cut from 12 pm to 4 pm
6-hour power cut from 6 pm to 12 am

G,H,I,J,K,L zones:

3-hour power cut from 12 am to 3 am
4-hour power cut from 8 am to 12 pm
6-hour power cut from 4 pm to 10 pm

P,Q,R,S zones:

3-hour power cut from 3 am to 6 am
4-hour power cut from 12 pm to 4 pm
6-hour power cut from 6 pm to 12 am

T,U,V,W zones:

3-hour power cut from 12 am to 3 am
4-hour power cut from 8 am to 12 pm
6-hour power cut from 4 pm to 10 pm

M,N,O,X,Y,Z zones:

3-hour 30 minute power cut from 5.30 am to 9 am
2-hour power cut from 4 pm to 6 pm

MIAP

Covid: Supreme Court denies petitions against regulation on full-vaccination

MIAP
-
0
Covid: Supreme Court denies petitions against regulation on full-vaccination

The Supreme Court today (30) has denied the petitions filed in objection to the extraordinary gazette notification issued by the Health Ministry barring anyone who is not fully vaccinated against the Covid-19 virus from entering public places.

The petitions were denied as per a majority decision of the five-member Supreme Court bench.

On January 25, the Health Ministry issued an extraordinary gazette declaring that anyone entering public places should be fully vaccinated against the virus as a mandatory requirement and should be holding proof of vaccination in possession. The gazette stated that full-vaccination stands for the relevant person being administered with the required doses of the anti-Covid vaccine as specified by the Director General of Health Services.

The gazette was declared to be in effect from April 30, 2022.

MIAP

Water Board warns fuel shortage may affect water supply

MIAP
-
0
Water Board warns fuel shortage may affect water supply

The National Water Supply and Drainage Board warned it may not be able to supply water to many areas of the island if it does not receive enough diesel to operate the power generators at its water treatment plants during power outages.

The ongoing fuel shortage has affected many sectors including local businesses and fuel queues are still evident in many parts of the country despite the Ceylon Petroleum Corporation’s (CEYPETCO) claim otherwise.

The demand for water has also grown due to the dry weather conditions in the island.

In the backdrop, the National Water Supply and Drainage Board has urged the public to use water sparingly.

MIAP

US$ 500 million credit for raw materials for local industries

MIAP
-
0
US$ 500 million credit for raw materials for local industries

Sri Lanka will receive US$ 500 million under the Indian debt facility for the importation of goods including raw materials for local industries, revealed the Industry Ministry.

Accordingly, the goods will be imported to the country expeditiously based on priority, said General (retired) Daya Ratnayake, Secretary to the Industry Ministry.

He added that the shortage of many essential raw materials may be eliminated within the next few weeks.

MIAP

All surgeries performed as usual: Director, Peradeniya Teaching Hospital

MIAP
-
0
All surgeries performed as usual: Director, Peradeniya Teaching Hospital

All surgeries are being performed as usual at the Teaching Hospital of Peradeniya, Hospital Director Dr. Arjuna Thilakaratne said, following days of aggravation upon the news claiming that the routine surgeries were suspended due to a shortage of medicines.

The Health Ministry has informed that all the medicines required for the surgeries would be provided soon, and therefore, the surgeries have been resumed using the available quantities of medicines at the hospital, Dr. Thilakaratne added.

Two days ago, the Director of the Peradeniya Teaching Hospital issuing a letter revealed that the performance of all surgeries except essential and emergency surgeries will be suspended due to a shortage of medicines, including anesthetics, leading clients pending surgeries into severe inconvenience and distress.

The Indian External Affairs Minister who was on a two day official to Sri Lanka at the time also raised concerns on the news, asking how India can intervene on addressing the problem.

It was after then has the Health Ministry informed that immediate measures will be taken to supply the necessary medicines.

MIAP

1...2,3332,3342,335...2,540Page 2,334 of 2,540