President Ranil Wickremesinghe announces IMF representatives are scheduled to visit Sri Lanka in two weeks to disburse the next instalment of funds, as outlined in the agreement between the Sri Lankan government and the International Monetary Fund.
Election campaigning for Sri Lanka’s 2024 presidential election ended at midnight on 18 September, initiating a silent period until election day on 21 September: The Election Commission urges no further campaigning, warning of legal action for violations, including on social media.
The Ministry of Education will distribute school uniforms to 4.3 million students and robes for 825 ‘Pirivens’ by January 20, 2025: These uniforms, donated by the Chinese government, will save the Sri Lankan government approximately Rs. 7 billion: The first consignment arrives on November 13, with subsequent shipments on November 21 and December 20.
The Elections Commission obtains a detailed weather report from the Meteorology Department to anticipate and address potential disruptions to the presidential election: Weather updates will be received every three hours starting Friday: District Returning Officers and the navy have been instructed to be prepared for adverse weather conditions, including flooding, with boats and canoes on standby.
The Election Commission of Sri Lanka has outlined who may enter polling stations on 21 September, including registered voters, polling staff, police, candidates, agents, and approved election monitors: They have also prohibited illegal activities such as mobile phone use, photography, video recording, firearms possession, smoking, and alcohol consumption, including entry while intoxicated.
A 21-member delegation from Bangladesh National Defence College’s Armed Forces War Course 2024 visits Sri Lanka’s Navy Headquarters: The delegation, led by Lieutenant General Mohammad Shaheenul Haque, met with Navy Commander Vice Admiral Priyantha Perera to discuss mutual interests: exchanges mementoes and receives a briefing on the Sri Lanka Navy’s roles and responsibilities.
Deputy General Manager of Railways Nandana Idipolag announces the usual Saturday train schedule will be followed on the Presidential Election day: Long-distance trains will run on Sunday (22), with potential reductions in short-distance services: A special train from Colombo Fort to Kankesanturai will operate for officials and security personnel on election duty.
The Supreme Court dismisses an intervention petition seeking to suspend the interim injunction against Deshabandu Tennakoon serving as Inspector General of Police: Filed by three monks, the petition was reviewed by a three-judge bench: Justice Yasantha Kodagoda says the petition lacked sufficient content to maintain a case, leading to its dismissal.
Commissioner General of Examinations Amith Jayasundara says the first question paper of the Grade 5 Scholarship exam will not be nullified: The decision follows concerns about questions circulating on social media before the exam: Any further complaints will be investigated: The exam was held on 15 September at 2,849 centres, prompting protests near the Department of Examinations.
Sri Lanka’s Kamindu Mendis scores his eighth 50-plus in Tests, becoming the second batter after Saud Shakeel to score a fifty in each of his first seven Tests, surpassing Sunil Gavaskar’s record: reaches this milestone on the first day of the Galle Test against New Zealand, contributing to a crucial partnership with Angelo Mathews amidst New Zealand’s strong bowling.
In the heart of Sri Lanka’s political landscape, Sajith Premadasa emerges as a beacon of hope for many. Born into a legacy of leadership, his efforts to uplift the poor resonate deeply across the island. Sajith’s commitment to public service is not just a continuation of his father Ranasinghe Premadasa’s vision but also a promise to forge new paths. As the former President of Sri Lanka, Ranasinghe’s initiatives laid the foundation for Sajith’s work today.
Now, as the 2024 presidential election approaches, Sajith aims to expand on his family’s legacy. His focus on sustainable housing, healthcare access, and education aligns with the needs of a population eager for change. In a nation recovering from economic challenges, Sajith’s projects offer not just relief, but a dynamic shift toward equitable growth. With his clear vision and grassroots initiatives, Sajith Premadasa stands poised to lead Sri Lanka to a prosperous future, championing the needs of its most vulnerable citizens.
Early Life and Background
Sajith Premadasa’s life has been shaped by a unique blend of political heritage and rigorous education. His journey from a politically active family to influential political roles offers an essential insight into his strategies and vision. Let’s explore how his family legacy and educational influences have carved his path in Sri Lankan politics.
Family Legacy
Sajith Premadasa is the son of Ranasinghe Premadasa, a pivotal figure in Sri Lankan politics who served as the country’s President from 1989 to 1993. Growing up watching his father’s dedication, Sajith was instilled with a commitment to serve the people of Sri Lanka. Ranasinghe was known for his focus on uplifting the poor and ensuring social justice, efforts that Sajith continues today with his own political initiatives. His father’s approach to governance emphasized grassroots development, a strategy that Sajith mirrors as he champions housing projects and educational reforms.
This political legacy is more than just a historic backdrop; it’s a guiding light for Sajith. His policies often reflect the transformative changes his father strived for, painting a future where every Sri Lankan has access to essential resources and opportunities. Sajith’s focus on housing and cultural projects is reminiscent of his father’s endeavors, laying the foundation for a robust and inclusive national policy.
Education and Early Influences
Education has been a cornerstone in shaping Sajith Premadasa’s worldview. His schooling journey began at prestigious institutions such as St. Thomas’ Preparatory School and Royal College, Colombo, where he gained crucial academic and leadership qualities. These schools not only honed his academic talents but also sparked his interest in politics and governance.
Sajith furthered his education at the London School of Economics, absorbing knowledge in economics, politics, and international relations. This rigorous academic background provides him with the analytical tools necessary for understanding complex political dynamics. The international exposure and academic networks he developed during his studies have played an instrumental role in his ability to craft policies that resonate both locally and globally.
These experiences molded his political ideologies, allowing him to harmonize traditional values with progressive ideas, setting him apart as a visionary leader in Sri Lanka. Sajith’s educational journey isn’t just a personal triumph; it’s a story of how a commitment to learning can fuel a lifetime of service and dedication to one’s country.
In a political landscape that continues to evolve, Sajith Premadasa’s blend of legacy and education makes him an essential figure in Sri Lanka’s future. His strategies are a testament to his belief in empowerment through education and equal opportunity, values deeply rooted in his upbringing and academic pursuits.
Political Career and Achievements
Sajith Premadasa, a name synonymous with dedication and social welfare, has been a significant force in Sri Lankan politics. With a clear focus on improving the lives of the underprivileged, his political journey is marked by key roles and initiatives that have left a lasting impact. Let’s explore some of the key positions he has held and his remarkable projects and initiatives.
Key Positions Held
Sajith Premadasa has held several important positions throughout his political career. His journey began as the Deputy Minister of Health from 2001 to 2004. In this role, he was closely involved with healthcare initiatives, highlighting his commitment to ensuring medical access for all Sri Lankans.
He served as the Minister of Housing, Construction, and Cultural Affairs from 2015 to 2019. During his tenure, Sajith focused on social welfare and affordable housing, becoming famously known for his slogan “Housing for All by 2025.” His work aimed at improving living conditions across the country. As Leader of the Opposition since January 2020, he continues to advocate for the needs of the common people, prioritizing policies that enhance the quality of life for everyone.
Major Projects and Initiatives
Sajith Premadasa’s initiatives are a testament to his dedication to social welfare. Here are some notable projects:
• Housing for All: Premadasa launched the ambitious Housing for All by 2025 initiative, striving to provide shelter to every Sri Lankan. He initiated numerous housing projects during his tenure, aiming to construct over 341,510 homes. Despite challenges, more than 233,578 houses received necessary provisions, improving countless lives.
• Gamudawa Village Development Program: This included the construction of 25,000 houses across all districts, with an objective to complete unfinished construction work, creating more integrated communities in rural areas. More details about the challenges and achievements of this project can be found here.
• Empowerment Centers: Establishing centers that aimed at improving education and creating job opportunities, particularly in under-served regions, focusing on uplifting the socio-economic standards of these areas.
These projects underscore Premadasa’s ambition to build a better Sri Lanka for all, particularly the less fortunate. His focus on providing homes and opportunities signifies his vision for a nation where every citizen can thrive. By pushing these initiatives, Premadasa not only contributes to immediate needs but also plants seeds for future generations to reap. How does one man leave such a mark? Through relentless dedication and genuine concern for the welfare of his fellow citizens, Sajith Premadasa is paving the way for a supportive and sustainable Sri Lanka.
Vision for Sri Lanka
Sajith Premadasa, a prominent Sri Lankan politician, envisions a country where economic stability and social welfare go hand in hand. His plans focus on bringing innovative ideas to both the economy and social services, with a particular emphasis on assisting underprivileged communities. The strategies outlined by Premadasa aim to revitalize Sri Lanka’s economy and ensure a brighter future for its citizens.
Economic Reforms
Sajith Premadasa has laid out a comprehensive plan for economic reforms that focus on growth and inclusivity. How?
1. Supporting Local Businesses: One of Premadasa’s main focuses is to encourage small and medium enterprises (SMEs) to enhance productivity and create more jobs. By doing so, he aims to reduce poverty and increase income levels for all.
2. Export-Oriented Growth: Premadasa’s vision also includes leveraging Sri Lanka’s strategic location to boost exports, a necessary step to strengthen the economy.
3. Revisiting IMF Agreements: He plans to amend current agreements with the International Monetary Fund (IMF) in ways that will foster a more sustainable growth rate for the nation.
By addressing foundational economic policies, Premadasa seeks not just to stabilize the country’s finances but to ensure that economic prosperity is felt at all levels of society. Do you think these measures will help uplift the marginalized communities who are often left out of economic policies?
Social Welfare Programs
Social welfare is another crucial area where Sajith Premadasa has pledged substantial enhancements. His ideas for expanding these programs are aimed at building a more equitable society.
• Education for All: Premadasa plans to increase funding for schools and colleges, ensuring that all children, regardless of their background, have access to quality education. This is a step towards creating a knowledgeable and skilled workforce.
• Healthcare Improvements: By expanding healthcare services and facilities, Premadasa intends to make medical help accessible to everyone, especially in rural areas where healthcare is often lacking.
• Affordable Housing: With a focus on housing, Sajith Premadasa wants to ensure that everyone has a roof over their head. He believes that a home is not a privilege but a basic right that every Sri Lankan deserves.
The idea is to strengthen these areas to ensure that basic needs like education, healthcare, and housing are met proficiently. Some welfare programs have already laid the foundation but there’s a need for more comprehensive strategies that cover all bases.
These policies indicate a clear path toward a thriving, inclusive Sri Lanka. Could Sajith Premadasa’s approach be the change the country needs?
Public Support and Popularity
Sajith Premadasa, a familiar name in Sri Lankan politics, has crafted a public image that resonates deeply with everyday citizens. His work, focusing on empowering the underprivileged, has only added to his allure. His leadership style and strategies aim to create a fair, inclusive society where everyone can thrive.
Election Campaign Strategies
Premadasa’s campaign strategies are closely aligned with his dedication to supporting the average Sri Lankan, particularly those in economically challenged areas. What sets him apart is his tendency to focus on grassroots movements, which emphasizes personal interactions and community-based campaigning. By doing so, he’s ensured his policies speak directly to the needs of the people.
1. Listening Tours: He often embarks on tours across the country, meeting with ordinary citizens. This direct engagement helps him better understand their needs and tailor his policies accordingly.
2. Mobile Clinics: In a move seen as both innovative and beneficial, his campaign set up mobile clinics to provide free healthcare to remote areas, reinforcing his commitment to public welfare.
3. Social Media Engagement: Recognizing the power of social media, Premadasa effectively utilizes platforms to directly interact with the youth and tech-savvy demographics, ensuring they are informed and engaged.
Public Perception
Public perception of Sajith Premadasa has largely been positive, as reflected in numerous polls and surveys. His focus on improving living standards and addressing poverty has struck a chord with many.
• Popularity in Polls: Recent surveys, including data from the Institute for Health Policy, show that Premadasa consistently ranks as a leading choice among presidential candidates. Despite fluctuating political dynamics, he maintains a strong position, as seen in the Sri Lanka Opinion Tracker Survey.
• Public Sentiment: His efforts are perceived as genuine by those he serves. The commitment seen in his initiatives like housing reforms and educational advancements demonstrates his dedication to societal progress.
• Criticisms and Challenges: Like any public figure, he’s faced criticisms, often from political rivals. However, his ability to maintain a focus on welfare projects shows resilience, earning him respect among supporters who view him as a champion for the common citizen.
In the bustling political landscape of Sri Lanka, Sajith Premadasa stands as a figure of hope and change. Through careful strategy and genuine dedication, he positions himself as a pivotal player in the upcoming elections.
Conclusion of Sajith Premadasa’s Impact
In Sri Lanka’s dynamic political landscape, Sajith Premadasa stands out as a beacon of hope for many, known for his tireless advocacy for the poor and commitment to national progress. His journey alongside his father, former President Ranasinghe Premadasa, has been marked by a deep-seated dedication to uplifting the marginalized communities. Together, their initiatives resonate with the country’s needs, aiming to provide sustainable solutions and create meaningful change.
A Legacy of Compassionate Leadership
Throughout his political career, Sajith Premadasa has emphasized addressing poverty, improving education, and healthcare. His recent projects showcase his unyielding commitment:
• Housing Initiatives: Under Husmak, a project aimed at providing safe and affordable housing, Premadasa ensures shelter for those in dire need, reflecting his father’s vision of elevating the underprivileged.
• Healthcare Contributions: A notable collaboration with international partners led to a donation of kidney dialysis machines, addressing critical health infrastructure needs as reported by AidData.
Paving the Way to a Promising Future
Premadasa’s vision for Sri Lanka is not just about maintaining the status quo. He promises innovation in education and sustainable development. His commitment to making Sri Lanka a hub for education speaks volumes about his progressive goals.
Why Choose Sajith Premadasa?
• Track Record: His initiatives show proven outcomes, helping people where it matters.
• Clear Vision: Premadasa articulates a vision for unity and prosperity, essential as the nation faces economic challenges.
With the upcoming 2024 Presidential elections, Sajith Premadasa stands as a formidable contender, driven by a passion for his people and a promise to bring positive change. As Sri Lanka looks towards a new era, the choice for a leader who embodies compassion, experience, and innovative thinking seems clear.
In embracing the vision and leadership of Sajith Premadasa, Sri Lankans can ensure a future where every citizen’s voice is heard, and every action taken is for the betterment of all. Is it time for Sri Lanka to embrace this change? The answer lies in your hands come election day.
Major Gen. Dr. Boniface Perera a battle-hardened Infantry officer served the Sri Lanka Army for more than 36 years dedicating 20 years in the battlefield. He was the former Security Forces Commander of the Wanni Region and Eastern province in addition to being the Competent Authority to resettle 300000 displaced people in the North. Having secured a PhD in economics, Presently, Major Gen. Perera is working as an international researcher and international writer. He has authored more than 100 research articles and 16 scientific books. He is an advanced researcher in the university of science and technology in Taiwan. He is also an entrepreneur and philanthropist.
Your ideas, views and constructive criticisms are welcomed.
September 18, Colombo (LNW)Sri Lanka Customs has refuted a claim made by NPP Presidential Candidate Anura Kumara Dissanayake that there is an outstanding tax of 1.1 trillion rupees to be collected. According to Customs, the actual amount of outstanding tax is 58 billion rupees.
Customs officials clarified that the majority of this 58 billion rupees is owed by 37 public institutions, with only one private company contributing to the total.
Sarath Nonis, Director General of Customs, further highlighted the institution’s record-breaking performance in revenue collection. As of the first eight months of 2024, Sri Lanka Customs has generated 1000 billion rupees in revenue, the highest in its history, positioning it to meet the 2024 revenue target of 1534 billion rupees as projected by the IMF. This surpasses the previous record of 975 billion rupees collected in 2023.
Dissanayake’s earlier statement regarding the 1.1 trillion rupees in outstanding tax was made during a discussion on a private television channel.
September 18, Colombo (LNW): Highways, Transport, and Mass Media Minister Dr. Bandula Gunawardhana lauded Basil Rajapaksa for his instrumental role in forming the Sri Lanka Podujana Peramuna (SLPP) after the first electoral defeat of former President Mahinda Rajapaksa. Speaking at a public meeting in Korathota Junction, Kaduwela, organized by PS member Saman Kumara, Gunawardhana emphasized that despite various opinions, Basil Rajapaksa’s Mahinda Sulanga program helped rebuild the party.
Gunawardhana also spoke highly of Professor G.L. Peiris, acknowledging his continued leadership as SLPP chairman and his vital role during Gotabaya Rajapaksa’s presidency. Peiris chaired the Cabinet Sub-Committee responsible for selecting foreign agencies like Lazard and Clifford Chance to manage the country’s foreign debt crisis. Despite avoiding damage during the political struggles, Peiris supported Dullas Alahapperuma for the presidency and advocated for Sajith Premadasa as Prime Minister during the crisis.
The minister also highlighted the contributions of Nalaka Godahewa, the chief economic advisor to Gotabaya Rajapaksa and architect of the SLPP’s economic agenda, and noted that he, along with Jagath Wellawatta, shaped the core of the party’s economic policies. Gunawardhana revealed that he had disagreements with parts of Gotabaya’s manifesto, especially in education, and had worked with academics to amend it.
Looking ahead, Gunawardhana hinted at potential cabinet appointments in a future Sajith Premadasa government, with promises of key portfolios such as Foreign Affairs for G.L. Peiris, Education and Culture for Alahapperuma, and Finance for Godahewa.
The political landscape is shifting, with several SLPP leaders, including Susantha Punchinilame and Lakshman Wasantha Perera, signaling their intention to join the Samagi Jana Balawegaya (SJB) after the 18th, fueling speculation of an SLPP exodus to the SJB. Meanwhile, prominent SJB figures such as Dr. Harsha de Silva, Kabir Hashim, and Eran Wickremaratne have taken a step back, allowing new political alignments to unfold.
September 18, Colombo (LNW): During a series of high-level discussions in Jaffna, Tamil National Alliance (TNA) leaders Sasikala Raviraj, Kalaiamuthan Mavai Senathirajah, and Charles Nirmalanathan expressed confidence in President Ranil Wickremesinghe’s leadership to resolve the longstanding issues of the Tamil community.
The talks, held at Jetwing Hotel, focused on comprehensive development and investment strategies aimed at addressing economic and infrastructure challenges in Sri Lanka’s Northern Province. Kalaiamuthan, recently elected to the Valikamam North Pradeshiya Sabha, alongside Sasikala Raviraj, emphasized the need for improving infrastructure, job creation, and sustainable growth for the Northern Tamil community.
Kalaiamuthan, son of TNA leader Mavai Senathirajah, has been instrumental in driving these initiatives. Following a separate meeting at Senathirajah’s residence, Senathirajah reaffirmed his confidence in Wickremesinghe’s ability to address Tamil grievances and promote economic rejuvenation in the region.
President Wickremesinghe also visited ITAK party leader and TNA MP Charles Nirmalanathan at his Mannar residence. Nirmalanathan and other local leaders pledged their support for Wickremesinghe’s reelection efforts.
September 18, Colombo (LNW): At a recent Samagi Jana Balawegaya (SJB) election rally in Anuradhapura, Presidential Candidate Sajith Premadasa announced key relief measures for the agricultural sector and other affected communities. He promised that an SJB-led government would write off farmers’ crop loans and provide a fuel subsidy to farmers, fishermen, three-wheeler drivers, school bus operators, and rice mill owners.
Premadasa also stated that farmers would receive 50 kg fertilizer bundles at a subsidized price of Rs. 5,000. Additionally, he outlined plans to implement a sustainable solution to the ongoing elephant-human conflict.
“We will formulate a national land usage plan, focusing on community-centered wildlife conservation, while also ensuring that tourism development is in harmony with these efforts,” Premadasa emphasized.
September 18, Colombo (LNW) The Commercial Bank of Ceylon recently organized an “Agri Modernisation Fair” in Vavuniya, gathering key players in Sri Lanka’s agricultural sector.
The fair aimed to introduce farmers to the latest technologies and promote the adoption of smart farming practices. Industry leaders such as Hayleys, AgStar, John Deere, DIMO, CIC, and Browns participated, alongside the Agrarian Production Centre’s Drone Unit.
The event attracted students, farmers, and entrepreneurs, offering them access to advanced agricultural resources and expertise.
The fair included lectures and practical sessions focusing on modern farming techniques, resource optimization, and sustainable practices.
Attendees were introduced to innovative methods like the use of drones for applying fertilizers, pesticides, and herbicides, particularly in paddy cultivation. These advanced solutions were presented to help farmers overcome pressing challenges, such as the increasing impact of climate change, labor shortages, and rising costs of farming inputs.
The bank highlighted the importance of supporting farmers through these technological advancements, stressing its role in the national economy. The event served as a continuation of the bank’s efforts to modernize Sri Lanka’s agricultural sector, following similar initiatives like a recent awareness program on the use of drones in the North Central Province.
Commercial Bank’s commitment to agriculture is supported by its 19 Agriculture and Micro Finance Units (AMFU) across various regions, including Ratnapura, Anuradhapura, and Vavuniya. These units are integral in understanding the specific needs of local farmers and entrepreneurs, offering them financial support for modern agricultural practices and micro-businesses.
In a separate development, Deen Brothers Imports Ltd. (DBL), Sri Lanka’s leading tool provider, has partnered with the Sri Lanka State Trading Corporation (STC) to bring top-quality tools to the market. This collaboration introduces renowned brands like UYUS Tools and Dongcheng Power Tools to STC’s stores, making professional-grade equipment more accessible.
DBL, established in 1940, has grown significantly under Managing Director M.N.M. Najeeb Deen, expanding its reach across Sri Lanka. The company supplies a wide range of products, including power tools, agricultural equipment, and construction machinery.
With over 500 dealers and extensive experience in global trade fairs, DBL ensures that its products meet the country’s diverse needs, importing high-quality tools from countries like the USA, Germany, and China.
This partnership with STC marks a significant step in DBL’s continued growth, aligning with its commitment to innovation and quality in the Sri Lankan market.
September 18, Colombo (LNW) Sri Lanka’s plantation industry, known for its long-term investment cycles, relies heavily on stable and rational policymaking for sustainable growth. At the 170th Annual General Meeting of the Planters’ Association of Ceylon (PA), outgoing Chairman Senaka Alawattegama emphasized the importance of policy stability and industry diversification for the long-term success of the Regional Plantation Companies (RPCs).
Alawattegama urged the government to root future policies in scientific and commercial realities rather than short-term political gains. He highlighted the need for flexible land-use policies that allow RPCs to make strategic decisions on transitioning from traditional crops like tea and rubber to more profitable ventures.
These ventures could include high-value crops, eco-tourism, or renewable energy projects. He stressed that these decisions should be backed by policies that enable long-term investments.
One of the central themes of Alawattegama’s speech was the importance of diversification for the industry’s future. Several RPCs have already begun diversifying into high-value crops like coffee, avocado, spices, and berries. These efforts open new revenue streams while mitigating the risks of depending on a single commodity.
Innovation and modernization were also highlighted as essential for staying competitive. Alawattegama stressed that by adopting technologies such as soil mapping, fertilizer optimization, and enhanced supply chain management, the industry can improve productivity and maintain its global competitiveness.
Addressing the long-standing issue of wage negotiations, Alawattegama reflected on the decade-long struggle for wage reform. Despite numerous challenges, the Planters’ Association remained steadfast in its calls for a productivity-linked wage system.
This culminated in the government gazetting a new wage structure, which sets a daily minimum basic wage of Rs. 1,350 and introduces a productivity-linked incentive where workers earn Rs. 50 for each kilogram harvested above set norms. Alawattegama regarded this as a “hard-fought win” for both workers and RPCs, enabling fair compensation based on productivity.
He also expressed regret over the delays in reaching a wage agreement, arguing that workers could have benefited from higher wages sooner if negotiations had been handled more collaboratively by the government and trade unions. Alawattegama called for future wage discussions to prioritize both the long-term sustainability of the industry and the welfare of the workers.
Aside from wage reforms, Alawattegama underscored the importance of addressing other critical issues like crop diversification and the potential for oil palm cultivation. He criticized the resistance to oil palm development, attributing it to misinformation, and called for more decisive action to harness the benefits of this crop. Alawattegama also acknowledged the struggles faced by the rubber industry, including unfavorable weather conditions and crop diseases like Circular Spot Leaf disease, which have hindered RPCs’ ability to meet wage demands.
Recognizing the growing global demand for sustainably produced goods, Alawattegama emphasized that Sri Lanka’s plantation industry must lead in sustainability practices. He encouraged doubling down on initiatives such as organic cultivation and environmental conservation to position the country as a global leader in premium, ethically sourced agricultural products.
He also advocated for incentives to support crop diversification and investments in research and development (R&D). In particular, he stressed the necessity of mechanization, precision agriculture, and agri-tech for the future sustainability of the industry.
September 18, Colombo (LNW) Sri Lanka’s economy expanded by 4.7% year-on-year (YoY) in the second quarter of 2024, marking consistent growth since September 2023. However, quarter-on-quarter growth slowed from the 5.3% seen in the first quarter of 2024.
The Department of Census and Statistics (DCS) attributed this growth to a strong performance in the industry sector, which accounted for 25.5% of the GDP and grew by 10.9%.
The service sector, representing 55.4% of GDP, expanded by 2.5%, while the agriculture sector, constituting 10% of GDP, grew by 1.7%. Taxes, less subsidies on products, which accounted for 9.1% of GDP, also saw an increase of 2.8%.
Several factors contributed to this economic expansion, including lower inflation, declining interest rates, and eased import restrictions, which made it easier for businesses to access working capital and raw materials. Additionally, while heavy rainfall negatively impacted key crops such as paddy, tea, and rubber, it boosted hydroelectric power generation, benefiting the energy sector.
Tourism played a crucial role in sustaining economic growth for the fourth consecutive quarter, following a rise in tourist arrivals since the third quarter of 2023.
In agriculture, growth was seen in sectors such as cereal production (22.7%), animal production (8.6%), marine fishing (7.7%), and vegetable cultivation (3.8%). However, some agricultural activities faced challenges, including a decline in plant propagation (-23.7%), rubber cultivation (-18.7%), and tea production (-8.8%).
The industry sector experienced significant recovery, with overall growth of 10.9% in Q2 2024, reversing the 11.7% decline seen in the same period of the previous year. The construction industry and mining and quarrying sectors posted notable growth rates of 15.5% and 21.5%, respectively.
Manufacturing also grew by 7%, with standout performances in metal fabrication (31.6%) and chemical products (24%).
The services sector, which grew by 2.5% in Q2 2024, recovered from the 0.5% contraction in the same period in 2023. Key service industries, such as accommodation and food services (21.1%), insurance (14.1%), and IT services (14%), showed robust growth.
Meanwhile, public administration and health services were the only sectors that contracted, declining by 3.1% and 2.3%, respectively.
In summary, while Sri Lanka’s economic growth in Q2 2024 was slightly lower than in Q1, it continued its upward trajectory, driven by industry and services sectors and supported by easing inflation and rising tourism
September 18, Colombo (LNW) Sri Lanka’s railways are set for a comprehensive modernization, focusing on upgrading stations and enhancing services through public-private partnerships (PPP), according to Transport Minister Bandula Gunawardana. This transformation is crucial as the 159-year-old railway department faces financial difficulties, operational losses, and a lack of investment.
Gunawardana emphasized the importance of revitalizing the railway system to meet modern needs. A key component of this effort is the Railway Efficiency Improvement Project, a five-year, Rs 28.5 billion initiative funded by the Asian Development Bank.
The project is set to be completed this year, with Rs 1.21 billion earmarked for final-phase capital expenditure. The initiative aims to enhance service delivery and operational efficiency, offering benefits for the thousands of commuters who rely on Sri Lanka Railways daily.
As part of this transformation, the government has invited private investors to participate in the development of six key railway stations in Colombo, including Kollupitiya, Bambalapitiya, Wellawatte, Kompanyaweediya, Dehiwala, and Mount Lavinia.
These developments will be pursued under the PPP model, where private investors will lease railway department properties on a long-term basis and modernize the stations into “station plazas.” These modern facilities will improve infrastructure, provide better amenities for commuters, and generate revenue for the government.
Gunawardana shared that several expressions of interest (EOIs) have already been submitted, signaling investor interest. One prominent example is the redevelopment of Ella station, a popular tourist destination, which is being undertaken by Laksala, a state-owned enterprise.
The project has proven profitable for the government, generating not only land rent but also a percentage of the station’s turnover. This model highlights the potential profitability of the station plaza concept, which will be replicated across the railway network.
Gunawardana also pointed out that maintaining the railway department as a state entity has become financially burdensome. To make it profitable, the department should be transformed into an Authority, with governance managed by a board of directors rather than the current bureaucratic system.
He reassured employees that their job security and pensions would be protected, drawing a parallel to the successful partial privatization of the Sri Lanka Ports Authority (SLPA) and Sri Lanka Telecom.
An initial step in the transformation will involve enhancing revenue by leasing spaces above strategic railway stations, addressing illegal land occupancy, and increasing goods and parcel transport.
Additionally, the redevelopment of land around railway stations will include the creation of commercial facilities, such as shopping malls and cafeterias, directly integrated into the stations.
These modern facilities will be operated by the private sector, providing busy commuters with convenient access to shopping and dining options. The Ministry of Transport has called for EOIs from both local and foreign investors interested in leasing upper floors of railway stations for projects like super malls.
Proposals will be opened on July 15, and railway land occupants and new applicants have been requested to register with the railways department to confirm the legal status of their land usage.
This ambitious modernization project represents a crucial step in transforming Sri Lanka Railways into a more efficient, revenue-generating system, while improving the experience for daily commuters across the country
