As per the instructions of President Ranil Wickremesinghe, the President’s Fund has initiated two additional scholarship programs alongside the on-going scholarship initiatives. These scholarships will be extended to monks, nuns, and lay students enrolled in Piriven and Seelamatha Educational Institutions, as well as those pursuing Information and Communication Technology (ICT) at G.C.E. (Advanced Level), effective from May 2024.
Sri Lanka’s Official Reserve Assets increased by 9.6% to USD 5.43 billion in April 2024, according to the Central Bank of Sri Lanka (CBSL). The figures reported for April is an increase from the USD 4.96 billion recorded in March 2024.
Sri Lanka’s Cabinet of Ministers has approved the combined proposal presented by the President and the Minister of Education to instruct the Legal Draftsman to prepare a bill for the establishment of a National Teachers’ Council.
The Court of Appeal dismissed the petition filed by Minister Wijeyadasa Rajapakshe seeking to suspend the interim injunction issued by the Colombo District Court preventing him from functioning as the Acting Chairman of the Sri Lanka Freedom Party (SLFP).
Sri Lanka Banks’ Association, LankaPay and FinCSIRT says they have been alerted regarding several incidents of financial fraud, both globally and in Sri Lanka, disguised as attractive online offers, leading to mobile device users inadvertently clicking on unknown links and downloading malicious apps and files.
Health Minister Dr. Ramesh Pathirana said that a Cabinet paper was submitted to the Cabinet of Ministers to increase the retirement age of certain healthcare services including nursing staff to 61 years. The minister revealed this in response to a question raised by MP Gamini Waleboda in Parliament.
Ambassador of Japan, handed over three “Health on Wheels” trucks to the Ministry of Health. The project has been implemented by the United Nations Population Fund (UNFPA), with financial support from the Government of Japan.
The Central Bank of Sri Lanka announced that it would initiate public consultations on amending the Finance Leasing Act, No. 56 of 2000. To have wider stakeholder consultation, the CBSL is inviting the general public to submit observations/ suggestions/ comments on the draft amendments.
Former Minister Mervyn Silva accused of threatening and assaulting a former journalist of the Sri Lanka Rupavahini Corporation, was ordered to be released on bail today by the Colombo Additional Magistrate Tharanga Mahawatta.
Sri Lanka win ICC Women’s T20 World Cup Qualifiers match against Scotland. With the win, Sri Lanka will now join Australia, New Zealand, India and Pakistan in Group A of the Women’s T20 World Cup. Meanwhile, Scotland join hosts Bangladesh, England, South Africa and West Indies.
May 08, Colombo (LNW): In alignment with President Ranil Wickremesinghe’s strategic vision, Sri Lanka is set to embark on a transformative pilot project in the Anuradhapura district, backed by a substantial investment of US$ 100 million to revolutionize agricultural practices.
The official agreement with Navita Capital of Portugal marks a significant milestone, signaling a firm commitment to the project’s realization.
With an investment totaling US$ 100 million, each farming family stands to receive an allocation of US$ 6,000, facilitating the adoption of solar pumps and other sustainable energy projects for agriculture.
Under President Wickremesinghe’s guidance and with support from Mohamed Nasheed, former President of Maldives and Secretary General of the Climate Vulnerable Forum (CVF), this initiative underscores Sri Lanka’s commitment to combating climate change and promoting sustainable development.
The execution of the project will be driven by the collaboration between ‘Our Movement Lanka’ and Nativa Capital, under the oversight of the Government of Sri Lanka.
This endeavor not only promises economic prosperity but also aims to empower farming communities with innovative technology and sustainable practices, creating employment opportunities, attracting foreign investment, and strengthening Sri Lanka’s agricultural sector.
Speaking at the ‘Collective Path to a Stable Country’ media briefing, Senior Advisor to the President on Climate Change, Ruwan Wijewardene, highlighted the collaborative efforts between the Climate Change Office of Sri Lanka, CVF, and Nativa Capital, culminating in a Memorandum of Understanding (MoU) to uplift 15,000 farming families in the Anuradhapura district.
The pilot project, focusing on chilli, watermelon, and tomato cultivation, aims to address market access challenges faced by farmers, with Nativa committed to purchasing produce from the project.
Wijewardene emphasized President Wickremesinghe’s initiative to modernize agriculture, attracting investment from Nativa for advanced agricultural technology deployment. Upon successful implementation, the project will extend to other districts, revolutionizing the export economy and enhancing farmers’ quality of life.
The signing of the MoU saw the presence of key figures including Mohamed Nasheed, Secretary General of the Climate Vulnerable Forum, Carlos Gomes, Executive Director of Nativa, Sandeep Samarasinghe, Sri Lanka’s Consul General in Australia, and Attorney-at-Law Kasturi Anuradhanayake.
May 08, Colombo (LNW): The Education Minister, Susil Premajayantha, secured Cabinet approval for a groundbreaking proposal aiming at digitizing general education, with crucial backing from the Chinese government, as announced by the Government Information Department in a statement issued yesterday.
According to the department, the Chinese government has committed to funding the project, pending a comprehensive feasibility study. This initiative is poised to address various challenges, notably the scarcity of teachers and educational resources. As part of the project, China will contribute resources such as classrooms, data centers, tables, a studio, and a conference room.
These resources will not only bolster educational reforms but also enhance the effectiveness and efficiency of the blended learning approach, facilitating resource sharing and enabling teachers with specialized skills to impart knowledge to students.
May 08, Colombo (LNW): Power and Energy Minister Kanchana Wijesekera raised concerns yesterday, accusing an organized group of attempting to disrupt government operations by disconnecting power without prior notice. The Electricity Board is currently conducting an investigation into these allegations.
The Minister’s remarks came in response to queries from Samagi Jana Balawegaya MP Thushara Indunil Amarasena regarding the abrupt disconnection of power to consumers facing difficulties in paying their electricity bills.
Highlighting a longstanding practice, the Minister noted that both power supply and disconnections have been managed by the private sector for two decades. Additionally, he addressed criticisms from trade unions, alleging that the government has favored private companies in this regard.
Addressing the issue further, the Minister emphasized that there hasn’t been a specified target for issuing red bills, and a system is in place to disconnect electricity only after issuing such bills. However, certain groups are reportedly bypassing this protocol and disconnecting power supply after issuing red bills.
Assuring action against those responsible, the Minister reiterated the government’s commitment to maintaining a fair and transparent process in power supply management.
May 08, Colombo (LNW): In accordance with President Ranil Wickremesinghe’s directives, the President’s Fund has expanded its scholarship initiatives, unveiling two new programs to complement ongoing efforts.
Starting from May 2024, these scholarships will be accessible to monks, nuns, and lay students enrolled in Piriven and Seelamatha Educational Institutions, as well as those pursuing Information and Communication Technology (ICT) at G.C.E. (Advanced Level).
A total of 822 Piriven and Seelamatha Educational Institutions nationwide will benefit from scholarship distribution, with six scholarships allocated per institution. Selection of recipients will be the prerogative of the Parivenadhipathi Thero/Institution Director.
The scholarships will be offered in two categories, with an allocation of 5,000 scholarships for lay scholars. Under the first category, recipients will receive Rs. 3,000 monthly for 12 months, starting May 2024. The second category entails Rs. 6,000 per month for a duration of 24 months.
Prospective applicants can access further details and application forms on the official website of the President’s Fund, www.presidentsfund.gov.lk, and its Facebook page, www.facebook.com/president.fund. Application instructions will also be published in the Government Gazette on May 10, 2024.
Applicants must submit completed forms to the Parivenadhipathi/Head of Institute by May 22, 2024. Selected recipients’ names will then be forwarded to the Ministry of Education via the Regional Assistant Director of Education (Piriwen).
This initiative, supported by the Telecommunications Regulatory Commission of Sri Lanka, underscores the President’s commitment to educational advancement, particularly in ICT studies for G.C.E. (Advanced Level) Examination candidates.
May 08, Colombo (LNW): An enhancement of showery condition over most parts of the island is expected during next few days from today (08th May).
Showers or thundershowers will occur at several places in most provinces of the island after 2.00 p.m.Fairly heavy showers about 75 mm are likely at some places in North-central, Central, Sabaragamuwa and Uva provinces.A few showers may occur over the coastal areas of Puttalam to Hambantota via Colombo and Galle during the morning too.Misty conditions can be expected at some places in Central and Sabaragamuwa provinces during the morning.General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers
May 07, Colombo (LNW): The final leg of the Women’s Twenty20 World Cup qualifying tournament is currently being held at the Abu Dhabi Stadium.
In this final match between Sri Lanka and Scotland, the toss was won by Scottish captain Sarah Bryce. She decided to hand over the responsibility of batting first to Sri Lanka.
May 07, Colombo (LNW): Concluding a two-day visit, IFC’s Vice President for Asia Pacific, Riccardo Puliti, demonstrated IFC’s commitment to supporting Sri Lanka’s continued reforms and growth agenda, while emphasizing the importance of private sector-led development for inclusive economic grow.
He also emphasized the importance of private sector-led development for inclusive economic growth.
The visit provided an opportunity for Puliti to engage with key stakeholders including a meeting with the President of Sri Lanka, HE Ranil Wickremasinghe, Minister of Power and PowerKanchana Wijesekera, Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe, representatives of the private sector and development partners.
Sri Lanka has immense potential. As the country recovers from the unprecedented economic crisis, it is crucial to maintain the momentum and continue implementing key measures to support the transition from economic stabilization to sustainable growth.
By embracing necessary reforms, fostering a conducive business environment, and prioritizing sustainable, inclusive growth, Sri Lanka can unlock its full economic potential and create a bright future for its people,” said Puliti.
Puliti signed an agreement for a new equity investment in Sunshine Healthcare Lanka Limited to support the company in its growth plan to increase its pharmaceutical manufacturing capacity and expand the pharmaceutical retail footprint.
“From providing banks with a much-needed cross-currency swap facility a year ago, to now investing in equity, IFC is committed to supporting Sri Lanka as it transitions from stabilization to sustainable growth. This is a vote of confidence in the country’s private sector and economic recovery,” said Puliti.
While in Colombo, Puliti also signed an advisory engagement with Commercial Bank of Ceylon (CBC) to scale up green finance, fostering a sustainable future for Sri Lanka’s financial sector.
Through this partnership, funded by the European Union, IFC aims to assist CBC in its transition towards net-zero and diversify its green finance portfolio.
“IFC will continue to assist Sri Lanka in developing and scaling up green finance to support the country in its path to a net-zero future,” said Puliti.
With over five decades of operations in Sri Lanka, IFC’s efforts in the country focus on three strategic pillars: supporting innovation for growth (including export diversification, start-ups, niche market agriculture, value additions for export, and high tech manufacturing); growth-enabling sustainable infrastructure (including low-cost clean energy, and sustainable transport and logistics systems); and deepening social and financial inclusion (including digitization, and the economic participation of underserved people, especially women).
Since the onset of the pandemic, IFC has invested over US$800 million in Sri Lanka providing essential long-term capital and trade financing to help sustain businesses and preserve jobs.
Recently, IFC partnered with Citizens Development Business Finance PLC (CDB) to help expand its climate finance product offerings and devise a carbon credit aggregation business model.
IFC also collaborated with CBC to build a Supply Chain Financing (SCF) strategy that will enable the Bank to lend more to small and medium-sized enterprises and establish itself as a leading SCF bank in Sri Lanka.
May 07, Colombo (LNW): VFS Global, which styles itself as the world’s leading outsourcing and technology service specialist, dismissed security and cost concerns and described the new electronic visa processing arrangement in Sri Lanka as progressive.
The company at the center of controversy surrounding the issuance of on arrival visa at the Bandaranaike International Airport (BIA), has issued a statement today in response to accusations and to clarify certain concerns which have been raised.
VFS Global said it has been operating in Sri Lanka since 2004 and has been facilitating the visa application process for 23 governments including the UK, Australia, Canada, New Zealand, and Schengen countries such as France, Germany, Switzerland, Italy, Norway, Austria, Latvia, Hungary, Croatia, Malta, and Greece.
VFS Global said it operates six visa centres located in Colombo and Jaffna and employs over 123 Sri Lankan nationals. Since 2004, VFS Global Sri Lanka has processed over 3.2 million applications, it said.
The Department of Immigration and Emigration (DI&E) signed a tripartite contract with GBS Technology Services & IVS Global FZCO being the prime contractor and VFS Global being the technology partner for the Sri Lanka government’s new E-Visa solution. www.srilankaevisa.lk.
VFS Global said it manages non-judgmental and administrative tasks related to the application process only. The decision to grant or reject the visa is at the sole discretion of the Department of Immigration and Emigration, it pointed out.
VFS Global says it has experience offering its digital E-Visa platform to 12 governments including Thailand, Dubai, Equatorial Guinea, Azerbaijan, and Suriname, amongst others.
As part of the digital transformation and modernisation of the visa system, the government of Sri Lanka decided to adopt VFS Global’s digital platform for its E-Visa and Visa-on-Arrival process. The objective is to make the process seamless to aid increased tourism and investment opportunities.
“The total service fee approved by the Cabinet is US$ 18.50 across all visa categories. Payment processing charges and applicable local taxes are in addition to the service fee.”
Minister of Public Security Tiran Alles says that action will be taken against the person who had caused a disturbance recently in the visa issuance section at the Bandaranaike International Airport (BIA) in Katunayake.
The minister said that action will also be taken against the officers who had recorded the incident in question.
He stated that the issue of visa fees was also part of the adopted proposal, and that even though it was passed in November, it was not possible to implement the change through the Electronic Travel Authorization (ETA) system and therefore they had to wait until April 17 to implement it through the VFS system.
The Minister further stated that due to the issues with ETA system, they had proceeded with changing the system.
He further said: “The talk was only about the USD 75, which means a 6-month visa, a double entry visa. But there was a small mistake on our end. Our 50-day visa was USD 30.
He said that he passed the 50-day visa along with the resident visa. It will be in the system from tomorrow onwards. For 30 days single entry visa is USD 50.”
May 07, Colombo (LNW): The Sri Lanka government plan’s to resume the JICA funded US$2.2 billion ‘Light Rail Transit (LRT) project, stretching from Malabe to Colombo Fort abruptly terminated by the previous regime is on the balance due to Japan’s reluctancy to resume it soon.
Kaneko Mariko, the deputy press secretary of the Japanese Foreign Affairs Ministry said , the project was cancelled even before Sri Lanka was declared bankrupt . She was accompanying Japanese Foreign Minister Yoko Kamikawa who was in Colombo and held bilateral talks on Saturday.
Ms. Mariko said Sri Lanka sought to resume work but Japan decided not to discuss it at this juncture. She said the Japanese assistance for any such LRT project would depend Sri Lanka’s debt sustainability and the scale of it. Also, she noted that it should be a fresh project on new terms.
However, she said all the other projects stalled due to the economic crisis would resume upon the signing of the Memorandum of Understanding (MoU) on debt restructuring with the creditor nations. These projects include the expansion of the Bandaranaike International Airport (BIA).
On September 21, 2020, Dr. P.B. Jayasundara, in his capacity as then Secretary to President Gotabaya Rajapaksa, has directed the Transport Ministry Secretary to terminate the project immediately.
He stated thatthe LRT system was costly and “not an appropriate or cost-effective transport solution for the urban Colombo transportation infrastructure.
The present administration is set to renew the LRT project contract with JICA loan facility due to its favourable conditions including low interest rates and the grace period of 12 years which was completely ignored by the previous regime
This unilateral action has not only stained the friendly relations with Japan but also its benefits to ease traffic congestions and fiscal support for the cash strapped country hit by economic crisis.
The government is yet to take any action to terminate the loan agreement with Japan International Cooperation Agency (JICA), the Auditor General’s special report revealed.
The Government has not yet settled a claim of around Rs 5 billion from the project consultants Oriental Consultants Global of Japan and Sri Lanka’s Consulting Engineers and Architects Associated for the work already done, expenses and loss of profit caused by the cancellation of the project in 2020.
Sri Lanka’s Auditor General has confirmed this claim adding that after loan agreement number 2019011 linked to the LRT was scrapped following a policy decision, a consultancy contract was terminated and the firm has demanded a sum of Rs.5.89 billion for losses and damages.
The total consultancy cost of the project is estimated at around US $ 140 million for seven years, including the feasibility review, detailed design, evaluation assistance, and construction supervision inclusive of all government taxes.
