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Minister pushes for completion of Central Expressway Phase III by 2025

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By: Isuru Parakrama

November 10, Colombo (LNW): Cabinet Minister Vijitha Herath, in his capacity as the Minister of Transport, Highways, Ports, and Civil Aviation, recently reviewed the ongoing construction of the Central Expressway’s third phase, spanning from Potuhera to Rambukkana.

During his visit, the Minister assessed the progress of this critical infrastructure project and offered specific guidance to officials to address the project’s requirements.

Herath emphasised the need to expedite work on the 32.4-kilometre stretch, directing officials to ensure its completion by the end of 2025.

The Ministry of Transport released a statement confirming that the minister’s instructions focused on maintaining timelines and addressing logistical issues to meet the project deadline.

Commenced in 2023, the Central Expressway’s third phase represents a major investment in national infrastructure, with an estimated budget of Rs. 210 billion for the full route up to Galagedara.

Designed as a four-lane highway, this segment aims to improve connectivity between key regions, facilitating faster travel and promoting economic growth.

Once complete, the expressway is expected to significantly reduce travel times between central and western parts of the country, offering a streamlined route for commuters and freight alike.

Acting IGP emphasises impartial law enforcement in SL under gov mandate

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By: Isuru Parakrama

November 10, Colombo (LNW): Sri Lanka’s Acting Inspector General of Police, Priyantha Weerasooriya, has emphasised that law enforcement in the country now functions independently, devoid of political influence.

Addressing officials and the public at the inauguration of a new building for the Chunnakam Police Station in Jaffna, Weerasooriya highlighted the government’s commitment to impartiality in applying the law.

The current administration has clearly instructed me to ensure that the law is applied equally to all, without exception,” Weerasooriya stated, noting that he has communicated this directive to police officials across the nation.

Reflecting on recent political events, he remarked that the period following the last presidential election was notably calm, with no reported instances of post-election violence.

This peaceful transition, he suggested, points to a shift in Sri Lanka’s political landscape and highlights the support from the community and officials for unbiased law enforcement.

Weerasooriya also underlined the accountability now expected from law enforcement authorities, stating, “Any lapse in enforcing the law would be a failure on the part of both the agency and its leadership.

He further assured that Sri Lanka’s legal proceedings now proceed without interference, fostering an environment where justice is both fair and transparent.

IMF delegation to assess SL’s progress on economic reforms in upcoming visit

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By: Isuru Parakrama

November 10, Colombo (LNW): A delegation from the International Monetary Fund (IMF) is set to arrive in Sri Lanka next week to conduct the third review of the nation’s Extended Fund Facility (EFF) programme.

Led by senior mission chief Peter Brewer, the delegation aims to assess Sri Lanka’s adherence to the IMF-supported economic reform plan, a critical aspect of the country’s recovery strategy.

During their stay, the IMF team will examine the Sri Lankan government’s current economic policies and evaluate the progress made on previous commitments.

This review is crucial, as it will determine the release of the next loan tranche under the EFF, helping Sri Lanka stabilise its economy amidst ongoing fiscal challenges.

The team’s agenda includes in-depth discussions with key economic authorities, including the Ministry of Finance and the Central Bank, on the effectiveness of policy measures implemented so far.

Recent discussions in Washington saw the Finance Ministry Secretary and the Central Bank Governor reaffirming the government’s commitment to the IMF’s programme, signalling continued dedication to reforms aimed at economic stabilisation.

Following this third review, and contingent upon satisfactory progress, Sri Lanka is expected to receive the fourth instalment of financial support under the EFF.

Evening, night showers expected in several provinces: Met Dept (Nov 10)

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November 10, Colombo (LNW): Several spells of showers may occur in Northern and North-central Provinces and in Trincomalee district, and showers or thundershowers may occur at a few places in Central, Uva and Southern provinces in the evening or night, the Department of Meteorology said in its daily weather forecast today (10).

Fairly heavy showers about 50mm are likely at some places in Jaffna, Kilinochchi, Mullaittivu and Trincomalee districts, the statement added.

Misty conditions can be expected at some places in Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara districts during the morning.

The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

Condition of Rain:
Showers or thundershowers may occur at several places in the sea areas off the coast extending from Puttalam to Pottuvil via Kankasanthurai, and Trincomalee. Showers or thundershowers may occur at a few places in the other sea areas during the evening or night.
Winds:
Winds will be North-easterly in the sea areas extending from Puttalam to Hambantota via Kankasanthurai and Trincomalee and Northerly or variable in direction in the other sea areas around the island. Wind speed will be (25-35) kmph in the sea areas around the island. Wind speed can increase up to (40-45) kmph at times in the sea areas off the coast extending from Trincomalee to Galle via Kankasanthurai, and Puttalam.
State of Sea:
The sea areas extending from Trincomalee to Galle via Kankasanthurai, and Puttalam can be fairly rough at times. Other sea areas around the island will be slight to moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

Sri Lanka Original Narrative Summary: 10/11

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  1. President Anura Kumara Dissanayake announces plans to reduce electricity tariffs by over 30% soon: promises a major transformation in the electricity sector within one to one-and-a-half years, and also pledged to lower fuel prices, requesting the public’s patience to achieve these changes.
  2. SJB Colombo District candidate Eran Wickramaratne says with a Parliamentary majority, the SJB would support the president’s positive initiatives, especially on anti-corruption, in exchange for backing their economic policies: emphasises the SJB’s economic expertise is key to driving Sri Lanka forward: also reiterates his commitment to positive change, integrity, and reform in the upcoming General Election.
  3. The Election Commission has received 2,348 complaints regarding the upcoming 2024 Parliamentary Poll, with 160 new complaints reported on November 8: Of these, 1,861 have been resolved so far: The Election Commission is actively addressing issues as the General Election, set for November 14, approaches.
  4. NPP member Bimal Rathnayake declares an NPP-led government will not include ministers from past Rajapaksa or Wickremesinghe administrations, holding them accountable for Sri Lanka’s decline: criticises ex-minister Douglas Devananda for allegedly misleading the public about presidential endorsement and vowed that NPP ministers would only be appointed from within the party’s ranks.
  5. The Election Commission has instructed State and Private sector banks and financial institutions to provide voting leave for employees on 14 November, the day of the parliamentary election, without loss of pay: This reminder follows reports of non-compliance: Citing Section 122 of the Parliamentary Elections Act, the Commission emphasises employers’ responsibility to ensure staff can vote at their assigned polling stations.
  6. SriLankan Airlines has cancelled several flights recently due to technical issues impacting its fleet: prioritises passenger safety and is working to resolve the disruptions, apologising for the inconvenience: Affected passengers have received meals and hotel accommodations as SriLankan Airlines strives to minimise delays and restore normal operations.
  7. The government has dismissed reports about the closure of Sri Lanka Thriposha Limited (SLTL) as false: The Finance Ministry clarifies there are no plans to liquidate the company and assured that the Triposha programme for children and pregnant mothers will continue, with efforts to make it more effective.
  8. The University Grants Commission (UGC) has announced the closure of all state universities in Sri Lanka on 13 and 14 November for the 2024 General Election: The measure ensures voting access for students and staff, with private universities also urged to grant election leave: The decision was conveyed by UGC Vice-Chairman Senior Professor K.L. Wasantha Kumara.
  9. The US Justice Department reveals an alleged plot by IRGC asset Farhad Shakeri to target Israeli tourists in Sri Lanka and orchestrate a mass shooting in Arugam Bay: Shakeri, along with two associates in New York, also planned attacks on U.S. citizens critical of the Iranian government, including a high-profile assassination plot against President-elect Donald Trump.
  10. Sri Lanka chased down New Zealand’s modest total of 135 to win, with a crucial 38-run partnership between Asalanka (35*) and Hasaranga (22) guiding them home: Despite struggles against New Zealand’s second-string team, Sri Lanka secured victory with Dunith Wellalage’s six to finish the match: New Zealand’s poor total was influenced by absentees and tough conditions, with Foulkes top-scoring with 27.

Education Ministry Issues New Guidelines on Use of Social Media Tools in Schools

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November 09, Colombo (LNW): The Ministry of Education, Science, and Technology has issued a special circular on the use of social communication tools like WhatsApp, Viber, and Telegram for educational and communication purposes in schools. The circular, signed by Ministry Secretary Thilaka Jayasundara, was distributed to school principals and education authorities, emphasizing guidelines to mitigate the adverse effects of social media use among students.

These communication platforms, initially adopted to address educational gaps caused by the COVID-19 pandemic, remain widely used among students. However, recent reports highlight concerns about potential negative impacts. To address these issues, the Ministry outlined the following key instructions:

  1. Supervised Communication Groups: School administrators, such as principals and section heads, must maintain quality and oversight of educational groups, ensuring proper supervision as group admins.
  2. Maximized Classroom Time: Teachers are encouraged to utilize school hours to cover the syllabus through in-person learning rather than relying on communication groups.
  3. Inclusivity in Education: Communication tools should be used in ways that do not disadvantage students lacking technological resources.
  4. Parental Communication: Parents should be notified well in advance, using communication groups only for reminders, especially regarding materials required for primary school students.
  5. Limited Home Assignments via Social Media: Assignments should be clearly explained in class, avoiding unnecessary reliance on parents or family members for completion through social media.
  6. Respecting Student Privacy: No media that could harm student privacy or cause mental stress should be shared within these groups; violations will incur strict disciplinary action.
  7. Accountability for Informal Groups: Administrators of any informal groups are fully responsible for preventing damage to the school’s or community’s reputation.

The Ministry warned that legal action, as per the country’s common law and Information Communication Act, will be taken against any issues arising from non-compliance with these guidelines.

Breaking News: Keheliya Rambukwella’s Family Moves to Retrieve Suspended Fixed Deposit of 50 Million Rupees

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November 09, Colombo (LNW):Former Minister of Health Keheliya Rambukwella and his family members were recently subjected to an investigation conducted by the Criminal Investigation Department (CID). As a result of these investigations, the court ordered the suspension of transactions involving fixed deposit accounts and numerous life insurance policies belonging to Keheliya and six of his family members.

However, it has been reported that today (November 09), Keheliya Rambukwella’s family members are preparing to reclaim a fixed deposit of Rs. 50 million that had been previously seized during these investigations.

According to sources, one of Keheliya’s daughters has arrived at a branch of the Bank of Ceylon, carrying the necessary documents to reclaim the deposit. It has also been reported that the bank employees, unable to take any action on their own, have informed the Criminal Investigation Department (CID) about the incident.

Cyclotron-based Radiopharmaceuticals to be produced in Sri Lanka

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November 09, Colombo (LNW): Access Medical Tracers (Private) Limited, a special purpose vehicle majority owned by Access Engineering Plc, has won the bid to build, operate and own (BOO) a cyclotron based radiopharmaceutical production facility in Sri Lanka, the company said.

“This is the first time such a facility is developed in the Country to produce Fluoro – Deoxy-Glucose (FDG) which is required mainly for the purpose of cancer detection,” Access Engineering said in a stock exchange filing.

The development cost of the production facility is estimated at 6.5 million dollars. The investment amount of Access Engineering will be notified in due course, the company said.

The ground breaking ceremony for the facility was held on Friday (8). Following a competitive bidding process a BOO agreement was signed on Tuesday (5) between Sri Lanka Atomic Energy Board, the Ministry of Health and Access Medical Tracers (Private) Limited (special purpose vehicle) for the implementation of the production facility.

Access Medical Tracers (Private) Limited is owned by Access Engineering PLC (60%), Access International (Private) Limited (20%), Sri Lanka Atomic Energy Board (10%), and the Ministry of Health (10%).

Cabinet approval has been given for the Government’s decision to implement a Cyclotron-based Radiopharmaceuticals Manufacturing Center at the Kotelawala Defense University Hospital premises in Werahera in collaboration with the Atomic Energy Board of Sri Lanka. 

This decision was taken due to the lack of facilities in Sri Lanka to test for the radioactive drug Fluorodeoxyglucose which is being used for PET and CT Tests that conducted to diagnose cancers. 

A special device called Cyclotron is used to produce this drug. “Due to the radioactive decay, about 97% of the capacity of the drug is lost when imported from India. Only 10 patients can be treated from the remaining capacity. 

Although there is a need to test about 30,000 patients annually, due to this only a capacity of 1,600 patients can be tested. It costs the government around Rs. 54,000 to test one patient using the imported drug. If the drug is manufactured locally, the cost can be reduced to Rs. 14,000,” the government said.

Central Bank’s Liquidity Injections Stir Debate over Long-Term Economic Risks

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November 09, Colombo (LNW): Sri Lanka’s Central Bank (CBSL) is facing criticism for injecting excess liquidity into the banking system, which some analysts believe could undermine the stability of the interbank market and exacerbate inflationary pressures.

 Dhananath Fernando, Chief Operating Officer of Advocata Institute, has warned that the central bank’s strategy of flooding the system with printed money might encourage unhealthy banking practices and disrupt the functioning of money markets. Instead, he advocates for lowering the floor rate of the policy corridor to bring rates down without resorting to large liquidity injections.

Recent data reveals that the central bank has been offering more money through open market operations than banks have been bidding for. Some banks have bid at exceptionally low rates, indicating a willingness to accept the funds regardless of the cost, which undermines the interbank money market’s efficiency. 

Fernando emphasized that the CBSL should avoid becoming the first resort for banks facing liquidity issues and should limit its interventions to emergency situations only.

The controversy comes amid a recovery in Sri Lanka’s interbank market, which had essentially frozen during the 2022 currency crisis. At that time, inflationary rate cuts had led to a lack of interbank lending, and fears over the country’s debt restructuring further exacerbated liquidity concerns. 

However, recent reports show that interbank volumes have improved, with daily call money market trades now averaging between Rs 10 billion and Rs 20 billion, and repo volumes returning to pre-crisis levels.

Fernando’s concerns are rooted in the long-term implications of the CBSL’s actions. If the liquidity injections are not withdrawn swiftly through sales of Treasury bills or foreign exchange, the increase in the money supply could be permanent, risking higher inflation and a balance of payments crisis. 

Critics argue that if the central bank continues these operations without a clear exit strategy, the result could be similar to government borrowing, with adverse effects on currency stability and economic recovery.

However, the CBSL has defended its actions, arguing that these liquidity injections were necessary to address imbalances in the banking system. Foreign banks, in particular, have been cautious about lending in the interbank market due to Sri Lanka’s current “default” sovereign rating, leading them to deposit excess liquidity with the central bank instead.

While these measures are viewed as temporary, there is concern that they could create a more enduring issue if not managed properly.

Despite these concerns, Fernando acknowledged the Central Bank’s significant role in restoring monetary stability since September 2022. He praised the CBSL for its efforts but warned that maintaining stability in the face of external pressures remains the critical challenge moving forward.

 The debate underscores the importance of cautious monetary policy in ensuring Sri Lanka’s economic recovery, with analysts stressing the need for transparency and discipline in the management of liquidity to avoid repeating past mistakes that led to the financial crisis. Fernando concluded that these discussions are essential for fostering an informed debate, not for assigning blame to any specific entity or individual.

Sri Lanka’s Apparel Industry: Leading Innovation and Sustainability in Global Fashion Manufacturing

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November 09, Colombo (LNW): Sri Lanka has cemented its position as a globally recognized leader in quality, innovative apparel production, offering fully vertically integrated solutions that address fast-evolving retail fashion trends and enable rapid product replenishment. The island nation is a preferred manufacturing hub for iconic global brands, known for its cutting-edge designs, ethical practices, and sustainable production methods.

According to Rajiv Malalasekera, Director and CEO of Brandix Apparel Ltd., Sri Lanka’s focus on innovation, quality, agility, and ethical manufacturing has set it apart in the industry. “Our customer-focused approach, especially in product development, has been transformative,” he states.

 By incorporating digitally automated solutions across the value chain, Sri Lanka has enhanced efficiency, making it a sought-after base for apparel manufacturing in the Asia-Pacific region. The country anticipates generating nearly $5 billion in apparel exports this year.

One of the key strengths of Sri Lanka’s apparel industry is its emphasis on product design and development. Brandix has integrated its local research and development capabilities with its global network in Europe, the US, and Asia to foster synergies.

 The company’s goal is to transform Sri Lanka into a global centre of excellence in product design, capitalizing on the island’s established reputation for quality and reliable supply.

 Sri Lanka’s apparel sector also boasts a commitment to sustainability and ethical practices, with several manufacturers, including Brandix, adhering to the Global Organic Textile Standard (GOTS), which prioritizes worker welfare and responsible sourcing.

Brandix has earned global recognition, with its Batticaloa facility being the first-ever Net-Zero Carbon manufacturing plant in the world. Seven other Sri Lankan factories have since received the same certification. 

Malalasekera highlights that this level of commitment to quality and sustainability has raised industry standards, ensuring ethical manufacturing practices are embedded at every stage of production.

A standout feature of Brandix’s success is its focus on vertical integration from yarn to fabric. This approach has significantly reduced lead times and ensured the availability of raw materials, an essential factor in an industry sensitive to inventory fluctuations. 

The company’s ability to deliver high-quality, trend-forward products has attracted top global brands like Victoria’s Secret, Uniqlo, and Calvin Klein.

Additionally, Brandix is responding to growing consumer demand for sustainable and inclusive products, integrating recycled, flexible, and biodegradable materials into its offerings. Over the past two decades, the company has expanded internationally, with operations in India, Bangladesh, Haiti, and Cambodia, employing over 50,000 people worldwide.

These global investments have diversified risk and enhanced Brandix’s ability to offer agile, responsive solutions to brands.

Sri Lanka’s apparel sector stands out not only for its innovation and sustainability but also for its commitment to remaining a responsible partner in global trade. As Malalasekera puts it, while regional competitors may eventually catch up, Sri Lanka’s focus on agility and its proactive approach to industry disruption ensures it will continue to lead.