Chairman of the Agricultural and Agrarian Insurance Board Attorney-at-Law Premachandra Epa has reportedly tendered resignation to his post.
His letter of resignation has been handed over to the Subject Minister yesterday (25).
MIAP
Omicron risk: IDH full. ICU and oxygen requirement soared
The Infectious Diseases Hospital (IDH) has also been overflowed with Covid patients, revealed Hospital Director Dr. Hasitha Attanayake, citing an incoming surge of 50 per cent in the past week.
He also pointed out that the requirement of referring patients into the Intensive Care Units (ICU) and oxygen supply has also been increased.
The situation follows upon the growing spread of the omicron variant of Covid-19.
MIAP
Government has no plan to import fertiliser for both Yala and Maha Seasons: MP Nalin Bandara
The government has no plan to import fertiliser and agricultural inputs for the current Maha Season as well as the upcoming Yala Season, alleged Samagi Jana Balawegaya (SJB) MP Nalin Bandara speaking to a briefing held in the Opposition Leader’s Office yesterday (25).
“The Maha Season has already been destroyed. There is no time to import urea for the Maha Season. Not only the Maha Season, one hundred thousand metric tonnes of urea and fertiliser are required for the Yala Season. But due to the dollar deficit the companies importing fertiliser have ordered only 10 per cent of that one hundred thousand. They have no required amount of dollars. The Central Bank does not implement a program to release dollars. When banks are sought, a LC cannot be opened. International companies have no confidence with one of our LCs; guarantees are sought from intermediates,” the MP said.
He added: “So, the government has not implemented a solution to import fertiliser and other inputs for the Yala Season after the Maha Season. Those who implemented such idiotic agricultural policies in the government further await till that rejected Chinese Ship full of dung is brought back. Also, we are not sure whether the failed nano urea will be brought back too. We have a doubt about it.”
MIAP
Sandya Ekneligoda vows to continue fight till justice is served (VIDEO)
Sandya Ekneligoda, wife of Journalist Prageeth Ekneligoda, who was abducted and disappeared twelve years ago, vowed that she will continue to fight till justice is served.
Mrs. Ekneligoda made this observation with media following her special religious devotion ‘Viradam Pooja’ to Hindu Goddess Kali in Modara Kali Fane in memory of Mr. Ekneligoda yesterday (25).
“It has been twelve years since my husband was abducted and disappeared by force. Today, when this country is in a state of panic, fear of diseases, and people are starving, I came to Mother Kali to shave my head for my husband,” Mrs. Ekneligoda said.
She added: “There is a rule of nature in this country. All citizens of this country subject to that rule, that nature. All animals in the universe are subject to that nature. So I think Kali is the universal woman in that nature. Because Kali will be able to punish the criminals in this country. The noble and universal woman who fought for her husband was Mother Pattini. So, I decided to take my fight in the footsteps of that universal mother. From today, I will be shaving my head for my husband, in the name of Mother Kali. I will continue this fight on this earth till I get justice.”
MIAP
Minister Chandrasena tried to hand over Steel Corporation land to Nandana Lokuwithana for free
The headlines have recently been burning with the story that Land Minister S.M. Chandrasena had allegedly attempted to hand over 185 acres of state-owned land near Kaduwela to a businessman for free
Media speculations went on claiming that the relevant proposal was discussed in the Cabinet last week, same as the week before, but Minister Chandrasena was compelled to withdraw the paper due to strong opposition from a number of Cabinet ministers.
However, these reports failed to disclose the name of the supposed business figure behind the deal.
Sources disclosed that Minister Chandrasena had attempted to hand over this valuable land to Nandana Lokuwithana, a well known billionaire, with a free grant.
Lokuwithana, who owns the Marriott Hotel in Dubai, has invested in a number of areas in Sri Lanka, particularly the construction and steel industries. The billionaire is said to have established a large tire factory in Kalutara recently as well.
Minister Chandrasena is believed to have been instructed by another powerful figure in the government to hand over the land to Lokuwithana.
Crude oil ship delayed. Operations at Sapugaskanda Oil Refinery further stalled?
The operations at the Sapugaskanda Oil Refinery may be further stalled, said the Energy Ministry.
The operations at the Oil Refinery was set to resume from tomorrow (27), but Secretary to the Energy Ministry K.R.D. Volga told media that operations are expected to resume by January 30.
It is believed that the situation has arisen due to the delay in arrival of the ship carrying the crude oil stock ordered.
MIAP
PM completely recovered, meets diplomatic delegation
Prime Minister Mahinda Rajapaksa, who was admitted to the Navaloka Hospital, Colombo two days (24) ago due to a sudden illness, has been completely recovered by yesterday.
Accordingly, the Prime Minister has resumed his Office.
He has held a discussion with a group of embassy officials yesterday afternoon as well.
MIAP
Those seeking political advantage through power cuts must be penalised: Rohitha Abeygunawardena (VIDEO)
There are certain officers in the Ceylon Electricity Board (CEB) who tend to embarrass the government by endorsing power cuts despite the President’s orders not to, in a move of gaining the political advantage, said Ports and Naval Affairs Minister Rohitha Abeygunawardena, speaking to media in Kalutara yesterday (25).
Accordingly, law must be enforced against such persons, the Minister suggested.
“His Excellency the President Gotabaya Rajapaksa together with the Honourable Finance Minister held a discussion by calling in the Power Minister, the Energy Minister and their officers who hold responsibilities yesterday morning. Holding such a discussion, the President instructed never to carry out a power cut. As the government, approval was granted to release the money required for the purchase of fuel.
Even after giving all these things and the President has given an order, we can see that certain CEB officials are trying to gain political advantage. This should be made clear. A timetable for power cuts is released in the evening, even after the government is held accountable, the fuel is being brought and all the responsibilities are borne by the government. They are trying to mess with people’s heads. Why so? To embarrass the government.
In fact, the reason for this power crisis is not at the complete discretion of the CEB. There is a handful of people, whose intention is a movement of sabotage. Because they do not like the idea of power, in particular, being produced via solar power. Every time power is produced via alternate methods, they tend to do something against. Therefore, the people of the country should be aware of this very clearly. If they continue to push back when the government is putting its efforts not to keep the people in the dark, they, in my opinion, must penalised legitimately. Were they not penalised, I am very confident that the people will penalise them.
Can a member of a trade union say whether power should be cut or not? If that is the case, one of those trade unions must be appointed as the Chairman of the CEB. Then, someone from the trade union must be appointed as the General Manager. The Subject Ministry should also be given to them. Then they will be able to make the decisions, not the government. So, when the people are given the wrong impression that power will be cut, that would be very dangerous. Therefore, law should be enforced against those who make such statements. For gods sake, we this as a crime against this country!” he said.
JKH owned Cinnamon Life Colombo nears settlement in apartment units
Cinnamon Life Colombo owned by John Keells Holdings PLC (JKH) the first integrated resort in Sri Lanka and the largest private investment in the country is set to hand over the residential apartments and commercial office spaces completing the selling of those units.
JKH attributed the increase in profitability to the profit recognition of the residential apartment units at ‘Cinnamon Life’.
Revenue and profit recognition in ‘Cinnamon Life’ will continue throughout the financial year as the handover of the residential apartments and commercial office spaces already sold will be completed, in addition to new sales recorded.
John Keells Holdings PLC (JKH) said yesterday it has successfully refinanced the $ 395 million syndicated loan at Cinnamon Life which was due for repayment in July this year.
The exercise was done through a $ 225 million long-term loan facility and a six-month bridging facility of $ 100 million.
In a filing to the Colombo Stock Exchange, JKH said the $ 225 million loan was concluded at a rate similar to the previous facility, taking into account step-down pricing mechanisms based on pre-agreed triggers.
The facility is a five-year loan with a two-year grace period and back-ended capital payments.
The $ 100 million bridging facility was structured to align with the maturity date of July 2022 of the original facility.
The refinancing move was first announced in JKH’s second quarter interim results statement. It said the Group was in final stages of discussions to refinance a component of this loan while utilising the proceeds from the sales of the apartments and cash reserves to settle part of the loan.
Whilst JKH’s FY223Q results are expected this week, in the 2Q Property industry group EBITDA at Rs. 1.26 billion was a significant increase from a negative Rs. 12 million a year earlier.
Whilst the restrictions imposed during the quarter under review impacted the momentum of construction at ‘Cinnamon Life,’ particularly the mobilisation of labour, the available resources have been mainly focused on the completion of the residences and the office towers, for handover as planned.
The finishing work of the hotel, including cladding, installation of the façade, glazing, and interiors of rooms is progressing well.
The Group has commenced discussions with key tenants for the retail mall, with various alternatives being considered for the retail space to ensure unique attractions and offerings.
During 2Q, ‘The Offices’ at ‘Cinnamon Life’ entered into an agreement with HCL Technologies of India, global technology company, to occupy over 80% of space in the 30-storey Grade-A office building.
JKH said the company’s commitment as the anchor office tenant at ‘Cinnamon Life’ added immense value to the project as a whole, as the office spaces are poised to attract a dynamic local and expatriate workforce.
Powerless: Sri Lankans to hit with electricity price hike with power cuts
Faced with fuel shortage in dollar crisis and high cost of power generation,debt strapped Ceylon Electricity Board (CEB)is set to revise electricity tariff amidst the tug of war between the two ministries of power and energy for power cuts
In the wake of proposed 1- 4 power cuts with no dollars more to import fuel to avoid the energy crisis,President Gotabaya Rajapaksa instructed the Ministry of Power not to enforce power cuts and also ordered the payment of the required funds to settle the issue.
Plans are afoot to ‘rationalise’ the electricity tariff shortly to discourage consumption , CEB Chairman M.M.C. Ferdinando said, adding that the 52-year-old system should be changed for the betterment of the electricity consumer.
He said the CEB had received 1500 MT of fuel recentlY and would receive another shipment soon. However, short-term power interruptions would continue in several areas until the operations at the Kelanitissa Power Station returned to normal.
The Public Utilities Commission of Sri Lanka (PUCSL) hinted at a possible upward revision in electricity tariffs, noting it was crucial to ensure financial viability of the State-owned CEB to provide uninterrupted power supply.
Following the 25% tariff reduction in 2014, the Commission noticed that there was no revision.
It is the responsibility of the utility to set the tariffs and obtain approval from the PUCSL,” PUCSL Chairman Janaka Ratnayake said.
“According to Ratnayake, the CEB is incurring a loss of around Rs. 40 per each electricity unit (using diesel) and Rs. 4.50 (hydro and other sources) as a result of providing its service at a concessionary rate.
“Even amidst such concessions, the collective dues of consumers to the CEB and Lanka Electricity Company Ltd. (LECO) accounts to over Rs. 50 billion.
Regionally too, the PUCSL Chief pointed out that Sri Lanka had the lowest tariffs for electricity comparatively.Ratnayake also highlighted that the CEB has not set the tariffs as per the cost-effective methodology approved by the Commission since 2014..
He stated that the CEB has requested the PUCSL for permission for daily power cuts from the 25th of January until the 04th of February.
Presently, State and private sector companies are in possession of several 3,000 MW generators, he pointed out, adding that these generators could produce electricity which would assist the production of electricity in the country.
The PUCSL Chairman added discussions were carried out with the companies that own such generators, adding that private companies have agreed to provide their assistance to rectify the power crisis.
Faced with fuel shortage in dollar crisis and high cost of power generation,debt strapped Ceylon Electricity Board (CEB)is set to revise electricity tariff amidst the tug of war between the two ministries of power and energy for power cuts