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Sri Lanka misses possible opportunity in getting IMF bail out package

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Sri Lanka misses possible opportunity in getting IMF bail out package

Sri Lanka is unlikely to seek a bailout from the International Monetary Fund (IMF) with the cabinet failing to reach a consensus on Monday 03.

Government sources revealed that most members of the Cabinet did not support seeking financial support from the IMF.

Sources said that a majority in the Cabinet are against the pre-conditions expected to be proposed by the IMF for the funding.

As a result, Government sources said that Sri Lanka is most likely to decide not to seek an IMF bailout.

IMF’s mission chief for Sri Lanka, Masahiro Nozaki disclosed in late December that the staff is still ready to discuss the option if requested.

Nozaki said a staff team from the IMF visited Colombo from December 7–20 to conduct the 2021 Article IV consultation with Sri Lanka.

Under Article IV of the IMF’s Articles of Agreement, the IMF holds regular bilateral discussions with all member countries to review economic developments and policies.

Following approval by IMF Management the IMF’s Executive Board discusses a Staff Report based on these discussions, Nozaki said.

The Cabinet had last month also discussed an IMF bailout but had not reached a decision at that meeting if to seek financial support from the global agency. 

Honorary Consuls of Sri Lanka and Sri Lankans living in Ankara donated medical equipment to support GOSL effort

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Honorary Consuls of Sri Lanka and Sri Lankans living in Ankara donated medical equipment to support GOSL effort

On the request of the Mission, Sri Lankans living in Turkey and the Honorary Consuls of Erzurum, Alanya, Bursa and Istanbul donated medical equipment to be used for the government hospitals in Sri Lanka to curb Covid-19 pandemic.

The donation included fingertip oximeters, infrared forehead thermometers, positive airway pressure, oxygen concentrators, and compressor nebulizer to support the tremendous government effort in Sri Lanka.

The Mission with the assistance of Turkish Airlines cargo and Asya Nakliyat facilitated the dispatching of the medical donations.

Ambassador M.R. Hassen commenting on the gesture by the Honorary Consuls and Sri Lankans commanded their effort and their solidarity with the Government and people of Sri Lanka.

Embassy of Sri Lanka

Ankara

3 January, 2022

Prime Minister positively responds to GMOA’s demands – transfers to be restored in old method

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Prime Minister positively responds to GMOA’s demands – transfers to be restored in old method

Prime Minister Mahinda Rajapaksa has instructed officials to proceed with the transfers of medical officers of grade in accordance with the procedure followed so far.

He noted that the crisis, pointed out by the Government Medical Officers’ Association (GMOA), arises due to the change in the transfer procedures at the discretion of certain officials.

The matter has been discussed with the top officials of the Health Ministry, as well as the members of the GMOA, at a meeting held today (04).

Speaking to the meeting, the Prime Minister urged the stakeholders not to embarrass the government by following political ideologies and work together with the trade unions in accordance with the Establishment Code.

Contributing to the discussion, the GMOA noted that the medical administration should not be divided into two sections namely senior and junior and should be kept in a single sample.

Former President Sirisena responds to Susil Premajayantha’s dismissal

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Former President Sirisena responds to Susil Premajayantha’s dismissal

There will be a great explosion in the government in 2022, warned former President MP Maithripala Sirisena, responding to the recent dismissal of Susil Premajayantha from his ministerial portfolio.

The forecasted explosion will not be averted by the mere dismissal of Premajayantha, Sirisena noted.

Although Premajayantha was dismissed over his comment challenging the government in the public in a matter of 24 hours, such an action will NOT be taken against Minister Nimal Lansa, who had made a similar but worse comment against the government in Gampaha about three days ago, the Former President suggested. This is mainly due to the fact the leaders of the government are well aware of the consequences of such a dismissal, he emphasised.

The Sri Lanka Freedom Party (SLFP) is the second largest party in the government and the third largest group in Parliament, Sirisena went on, foreshadowing the SLFP’s share of the 6.9 million mandate owned by the government by saying that everybody, therefore, has to keep that in mind.

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FSP Propaganda Secretary Duminda Nagamuwa arrested

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FSP Propaganda Secretary Duminda Nagamuwa arrested

Propaganda Secretary of the Frontline Socialist Party (FSP) Duminda Nagamuwa has been arrested by the Kaduwela Police.

The arrest was made in Borella this (04) afternoon.

Nagamuwa has been arrested on the allegations of contempt of court and damaging Court property. The arrest was made based on an open warrant issued by the Court, Kaduwela Police said.

Nagamuwa and a group of others staged a protest in front of the Court on November 4, 2021 demanding the release on bail of Wasantha Mudalige, the convener of the Inter University Students Federation (IUSF), who is currently in remand custody.

The aforesaid open warrant was issued on the allegation that Nagamuwa had committed contempt of court based on this event.

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Trade Unions warn of potential power outage amid coal, water, diesel shortage

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Trade Unions warn of potential power outage amid coal, water, diesel shortage

The water level in the reservoirs, which had been full due to the heavy rains, has reportedly been dropped, leading to a decline in hydro-power generation.

There is a risk that hydro-power generation may have to be completely shut down due to the siltation of the reservoirs that receive water for power generation.

Meanwhile, Ranjan Jayalal, Secretary General of the Ceylon Electrical Workers’ Association, speaking to media today (04) warned that the supply of diesel for the Sapugaskanda Thermal Power Plant is facing a crisis due to the ongoing dollar deficit, leading to a shut down.

The Ceylon Petroleum Corporation (CPC), which is suffering from a financial depression, has suspended the supply of diesel for generation of power and has instructed the Ceylon Electricity Board (CEB) to pay in dollar for diesel upon any requirement.

In the backdrop, the only solution for the CEB to meet the national demand of power would be the Norochcholai Thermal Power Plant. The generators at the plant, however, have also been out of order over time and there have been several incidents of such a nature in the last few months as well.

The purchase of coal for future power generation has also facing a crisis, reports added. The last time tenders were called for the purchase of coal, no supplier had come forward due to the ongoing dollar deficit, linking multiple crises suffered by the country with each other.

In the backdrop, the occurrence of a power outage could be inevitable in the future, the trade unions responding to the Power sector further warned.

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Jaffna International Trade Fair in January 2022

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Jaffna International Trade Fair in January 2022

The 12th Edition of this mega trade fair will be held in the heart of Jaffna this January 21st, 22nd and 23rd. The event is organized by Lanka Exhibition & Conference Services (Pvt) Ltd (LECS), in association with the Chamber of Commerce & Industries of Yarlpanam (CCIY) and endorsed by International Business Council, The Ministry of Industry & Commerce and the Consulate General of India in Jaffna.

The Jaffna International Trade Fair is the most anticipated platform for Small and Medium Entrepreneurs to introduce their products to the population of the North. The organizers of the event noted that traders have experienced first-hand the potential the North has to offer.

The event is known to be a multi trade affair featuring industries, products and services in the Agriculture, Hospitality, Education, Food industries, Machinery, Construction, Consumer, Electronics, and real estate sectors.

The Main Sponsor for this year’s event will be Insee Cement, a proud stall holder for over a decade. Ruhunu foods tied up to become the Official Food Partner for the event. Official Telecommunication Partner will be Mobitel (Pvt) Ltd. who have been part of the event for 12 consecutive years since 2010. Official Safety & Hygiene Partner is Sun Match Company (Pvt) Ltd.

JITF provides an annual platform to reach a large portion of the market in Jaffna, both consumers and businesses based in Jaffna and the in the North, visit the show over the three days, typically 40 – 50 thousand visitors from diverse demographics visit the Exhibition. The location of the event next to the Jaffna fort, makes for maximum visibility for those participating as stall holders.

JITF 2022 will see the launch of a programme targeted at the Youth and Young Adults in Jaffna, aimed at Empowering & Inspiring youth towards self-development and entrepreneurship. The programme will feature knowledge sharing, skill development, mentoring forums, job opportunities and networking opportunities for budding entrepreneurs.

The event’s long-standing education pavilion “Kalvi” will also feature many higher education institutions at the event in 2022.

Susil Premajayantha removed over disciplinary dispute: Namal (VIDEO)

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Susil Premajayantha removed over disciplinary dispute: Namal (VIDEO)

Susil Premajayantha was dismissed from his State Ministerial Portfolio over a disciplinary dispute, claimed Minister of Youth & Sports, Minister of Development Co-ordination and Monitoring and State Minister of Digital Technology and Enterprise Development Namal Rajapaksa, speaking to media in Colombo today (04).

Rajapaksa added that several issues had arisen regarding the criticism of the fellow Cabinet and State Ministers, Rajapaksa went on, adding that many had asked the President why no action had been taken in this regard. The President, accordingly, has taken an action, he added.

Responding to the query whether a similar action should have been taken on Ministers Wimal Weerawansa, Udaya Gammanpila and Vasudewa Nanayakkara, who challenged the Cabinet’s decision by consulting the Court, Minister Rajapaksa noted that the President has made a statement in this regard as well.

Nevertheless, all in the government should be working with a collective responsibility and any disagreement should be addressed in a Cabinet meeting or a group meeting, he added.

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Cabinet approves establishment of “Trinco Petroleum Terminal Pvt. Ltd.”

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Cabinet approves establishment of “Trinco Petroleum Terminal Pvt. Ltd.”

The Cabinet has approved the establishment of “Trinco Petroleum Terminal Pvt. Ltd.,” regarding the development of the oil tank reserve in Trincomalee.

The relevant agreement will be signed within an upcoming week, revealed Energy Minister Udaya Gammanpila, speaking to the briefing held in announcing the Cabinet Decisions today (04).

Accordingly, 24 oil tanks will be entitled to the Ceylon Petroleum Corporation (CPC) and 14 to the Indian Oil Corporation (IOC) for businesses.

51 per cent of the remaining 61 oil tanks will be entitled to the CPC and 49 per cent to the IOC at a joint venture under a 50-year lease agreement, Gammanpila said.

The operational will be fully controlled by the CPC, he added.

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10 per cent relief provided to water consumers suspended

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10 per cent relief provided to water consumers suspended

The National Water Supply and Drainage Board has decided to suspend the 10 per cent relief provided so far for small-scale domestic water consumers.

The relief was entitled to those consuming less than 25 units of water per month, following a budget resolution tabled in 2014.

Explaining the move, the National Water Supply and Drainage Board stated that the said relief incurs a monthly loss of Rs. 90 million, further fueling the financial depression from which the Board currently suffers. The relief will be suspended in the event that more than 75 per cent of the water consumers in Sri Lanka accounts to those consuming less than 25 units, hence the unbearable loss,it added.

The 2014 Budget resolutions proposed a 10 per cent discount for small-scale water and electricity consumers, but the relief was suspended by the CEB in 2015.

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