October 19, Colombo (LNW): H.D. Navinthaka de Silva, CEO of Avenra Hotel Group, has filed a petition with the Court of Appeal, challenging a recent directive from the Ministry of Defense that mandates individuals holding licensed firearms for personal protection to surrender them. The petition, filed through attorney Sanath Wijayawardena, names the Secretary of the Ministry of Defense, the Director of the State Intelligence Service, and the Acting Inspector General of Police as respondents.

De Silva, who obtained the licensed firearms around 2012 or 2013 due to personal threats, argues that the decision significantly endangers his safety. He further noted that his business, including his hotels, suffered substantial damage during recent political unrest, heightening his security concerns.

The petitioner claims that the announcement made by the Secretary of Defense on October 7, calling for the return of personal protection firearms, places him at greater risk as a businessman. Despite appealing against the directive, de Silva has yet to receive a satisfactory response.

The petition requests the Court of Appeal to issue a writ order invalidating the Ministry’s directive. Additionally, de Silva seeks an interim injunction to suspend the order’s implementation until the case is fully heard and a final decision is reached.

October 19, Colombo (LNW): Showers or thundershowers may occur at a few places in Northern province. Several spells of light showers may occur in Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts.

Showers or thundershowers may occur at a few places in Uva and Eastern provinces during the evening or night.

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

October 18, Colombo (LNW): The Ministry of Foreign Affairs has called on Sri Lankans residing in the Middle East to closely follow the instructions issued by Sri Lankan missions in the region, given the worsening conflict, especially in Lebanon.

In a statement released yesterday, the Ministry assured that measures are in place to ensure the safety and security of the significant number of Sri Lankans in the region. These efforts are being coordinated through the respective Sri Lankan missions in affected countries, with safety guidelines provided regularly.

The Ministry advised all Sri Lankans living in the region to remain vigilant and act according to the guidance provided by the missions.

Additionally, relatives of those working in the Middle East can contact the Foreign Ministry’s Consular Affairs Division in case of emergencies. Contact numbers provided for inquiries are 011 – 2338812 and 011 – 7711194.

October 18, Colombo (LNW): According to a recent report, the government has utilized just 53% of its allocated welfare budget for the year within the first eight months up to August. The Ministry of Finance’s latest data highlights that much of the welfare funding has been directed towards the ‘Aswesuma’ welfare program.

The report further indicates that Sri Lanka is set to receive approximately 1.69 billion US dollars in loans from multilateral agencies over the next three to five years.

 By the end of August 2024, foreign development partners and lending institutions had signed 10 agreements with the government, totaling 398.7 million US dollars in foreign financing, out of which 350 million dollars are in loans. An additional 48.7 million dollars came through seven grant agreements with Japan and Australia.

Foreign financing disbursements up to August 2024 have amounted to 1.01 billion dollars, including 994.4 million dollars as loans and 11.3 million as grants. 

The Asian Development Bank (ADB) has provided Sri Lanka with 358.3 million dollars, slightly exceeding the International Monetary Fund’s (IMF) contribution of 334 million dollars in budget support loans, while the World Bank has delivered 239.8 million dollars.

Both ADB and the World Bank have aligned their financial support with Sri Lanka’s IMF program established last year. Around 33% of the total disbursements have been allocated to the budget support sector, with 13% going to power and energy, 10% to SME development, and 7% to the finance sector.

The report also noted that an additional 1.69 billion dollars in loans from multilateral agencies remains undisbursed, expected to become available in the next three to five years. Furthermore, only 53% of the welfare budget has been spent during the first eight months of 2024, which amounts to 562.4 billion rupees out of the allocated 1,055.7 billion rupees.

Following IMF recommendations, the previous government increased the welfare budget by 15.3% this year compared to the 915.4 billion rupees spent in 2023. Of the 562.4 billion rupees spent so far in 2024, 112.7 billion was directed towards the “Aswesuma” poverty alleviation program, 9.5 billion for school nutrition, 4.4 billion for school textbooks and uniforms, and 24.2 billion for fertilizer subsidies.

October 18, Colombo (LNW): Export Development Board (EDB) is to assist exporters in   broadening its export base by targeting high-tech sectors, as part of a broader strategy to boost export revenue, the newly appointed EDB Chairman and CEO Mangala Wijesinghe said. .

Wijesinghe, in his first speech since assuming duties, highlighted the need for Sri Lanka to follow the path of countries such as Singapore and South Korea, in developing advanced industries. 

“We should diversify and focus more on high-tech industries like electronics and pharmaceuticals,” he said, stressing the importance of moving beyond traditional exports.

Wijesinghe also noted the significant growth in service exports, which generated US $ 3.1 billion in 2023—a 69 percent increase over the previous year. The surge was driven by sectors including information technology, logistics and construction.  

“Service exports are critical and the government’s target is to reach US $ 5 billion in ICT exports by 2030. We aim to align with that goal,” Wijesinghe said.

Addressing the structural issues within the export sector, he called for a review of the National Export Strategy, which was implemented in 2018, to streamline the approval processes that he described as “complex” and time-consuming. 

Wijesinghe welcomed the new government’s plans to digitalise and interconnect public services and noted that with digitalisation, the processes can be fast-tracked and simplified.

Sri Lanka, which has long relied on exports like tea and garments, faces pressure to expand into higher-value goods and services. 

Wijesinghe outlined a target of reaching US $ 30 billion in export revenue by 2030 and called for increasing both the number of exporters and products in the export basket. 

He also pointed to the importance of improving the country’s ranking in the World Bank’s Ease of Doing Business Index, where Sri Lanka currently stands at the 99th position.

“We must identify and remove all barriers hindering export growth,” Wijesinghe said, adding that teamwork and alignment with the government’s economic strategy would be crucial to achieving these goals.

Before joining the EDB, Wijesinghe held the position of Chief Operating Officer at Browns & Company, bringing more than 25 years of experience across sectors, including pharmaceuticals, consumer electronics and industrial solutions.