President Ranil Wickremesinghe emphasized the peril of politicizing education, warning that such a move would inevitably lead to the nation’s downfall. He urged all stakeholders to set aside personal biases and engage in collaborative discussions to devise the most effective education system for the country within the next two to three years.
The National People’s Power set debate dates for Anura Kumara Dissanayake and Sajith Premadasa, informing SJB in a letter. The proposed dates are May 7, 9, 13, and 14. SJB’s Nalin Bandara suggested discussing and agreeing on a convenient date, he also told that Sajith Premadasa will not join the debate on the dates proposed by the NPP due to prior commitments.
National People’s Power Leader Anura Kumara Dissanayake met with a delegation of the Chinese Communist Party including the Vice Minister of the International Department of the Chinese Communist Party at the JVP head office. The discussions focused on the current political situation, upcoming elections and possible political developments.
The Colombo Chief Magistrate’s Court has delivered an order against the protest march planned to be staged by the Ceylon Electricity Board (CEB) employees’ union near the Polduwa Junction in Welikada police area.
Minister of Power and Energy Kanchana Wijesekera says the Ceylon Electricity Board (CEB) incurred a loss to the tune of Rs. 9.8 billion per annum as a result of the delays in the construction and commissioning of the Uma Oya hydropower plant.
The Consular Affairs Division of the Ministry of Foreign Affairs will be relocated to the new premises on the 16th floor of “Suhurupaya” on Sri Subhuthipura Road, Battaramulla with effect from 02 May, the Foreign Affairs Ministry said.
General Manager of Railways H. M. K. W. Bandara passed away on Tuesday (23) morning due to a sudden illness. According to sources, he succumbed to his illness while being rushed to the Anuradhapura Teaching Hospital.
Air Seychelles, the Republic of Seychelles’ national airline and Sri Lankan Airlines, the flag carrier of Sri Lanka, have announced a new code-sharing partnership, expanding the number of destinations accessible to customers from the paradise islands flying between Mahe and Colombo.
In anticipation of the Iranian President’s half-day visit to Sri Lanka on Wednesday, April 24, authorities have announced a series of traffic disruptions and road closures. According to police reports, several roads in Mattala, Thanamalvila, Wellawaya, and Uma Oya will be closed from 9:45 am to 11 am.
Sri Lanka’s star batter Chamari Athapaththu edged Natalie Sciver-Brunt to become the top-ranked batter in the ICC Women’s ODI batting rankings.
April 24, Colombo (LNW): Despite initial challenges in discussions between the Government of Sri Lanka and private bondholders, the International Monetary Fund (IMF) remains hopeful for positive outcomes in the future.
Krishna Srinivasan, Director of the Asia and Pacific Department (APD) at the IMF, expressed satisfaction with Sri Lanka’s progress under the four-year Extended Fund Facility (EFF) programme. Srinivasan highlighted that Sri Lanka’s economic recovery efforts are yielding promising results, as evidenced by several key indicators.
During the IMF press conference on the Regional Economic Outlook for Asia and Pacific in Washington DC, held on Thursday, April 18, Srinivasan noted early signs of economic recovery in Sri Lanka. He cited a 3 percent year-on-year expansion of real GDP in the second half of 2023, a significant decrease in inflation from a peak of 70 percent in September 2022 to 0.9 percent in March 2024, and an increase of US$ 2.5 billion in Gross Official Foreign Reserves in 2023. Additionally, Sri Lanka achieved a surplus of 0.6 percent of Gross Domestic Product (GDP) in its primary balance in 2023.
While acknowledging the challenges ahead for Sri Lanka’s full economic recovery, Srinivasan expressed optimism about the progress being made in terms of economic growth and inflation. He highlighted the ongoing debt restructuring negotiations, commending the positive strides made with official creditors and expressing confidence in reaching agreements with private sector creditors in due course.
Regarding the debt restructuring discussions with private sector creditors, Srinivasan emphasized that negotiations are ongoing, with the IMF anticipating favorable outcomes in the future.
Srinivasan reaffirmed the importance of Sri Lanka’s commitment to IMF-recommended reforms, particularly in fiscal management and structural adjustments. He underscored the significance of addressing governance issues and reducing corruption as integral components of Sri Lanka’s reform agenda for sustained economic recovery.
April 24, Colombo (LNW): The Consular Affairs Division of the Ministry of Foreign Affairs is set to move to its new premises on the 16th floor of “Suhurupaya”, Sri Subhuthipura Road, Battaramulla, effective from 2nd May 2024. This relocation aims to provide enhanced services to the public in a more convenient and modern setting.
Starting from the aforementioned date, all consular services will be provided to the public at the new office premises during regular office hours, from Monday to Friday, 8:30 am to 4:15 pm.
To facilitate the smooth transition of the Electronic Document Authentication System (e-DAS) to the new premises at Suhurupaya, document authentication services provided by the Consular Affairs Division in Colombo will be temporarily suspended on 29th and 30th April 2024.
However, during this transition period, the Regional Consular Offices in Jaffna, Trincomalee, Kurunegala, Kandy, and Matara will remain open to the public during regular office hours. Applicants can submit their applications for document authentication to the Regional Offices as usual. Authenticated documents will be delivered to the applicants on Thursday, 2nd May 2024.
April 24, Colombo (LNW): In a landmark meeting at the State House in Banjul yesterday, Ambassador Kana Kananathan, the inaugural Ambassador of Sri Lanka to The Gambia, engaged in bilateral discussions with President Adama Barrow. This crucial dialogue served as a pivotal moment in fortifying the bonds of friendship and cooperation between the two nations.
The discussions between Ambassador Kananathan and President Barrow focused on avenues for enhancing collaboration across various sectors, with a particular emphasis on trade and investment. Both sides expressed their firm commitment to exploring new opportunities for mutual benefit and shared prosperity, underscoring the potential for deeper cooperation.
President Barrow extended his heartfelt appreciation to President Wickremesinghe for his remarkable efforts in stabilizing Sri Lanka’s economy within a notably short span of time. He commended Sri Lanka’s astute leadership and effective economic policies, which have significantly contributed to the nation’s economic resilience and growth.
A significant highlight of the discussions was the upcoming Organisation of Islamic Cooperation (OIC) Summit, slated to be hosted by The Gambia in the first week of May. Ambassador Kananathan conveyed Sri Lanka’s congratulations and unwavering support for The Gambia in successfully organizing and hosting this prestigious event. The summit is expected to convene leaders from across the Islamic world to address pressing global issues, further cementing The Gambia’s position on the international stage.
Reflecting on the productive meeting, Ambassador Kananathan emphasized, “Today’s discussions exemplify the deep-rooted friendship and shared values that bind Sri Lanka and The Gambia together. As the first Ambassador of Sri Lanka to The Gambia, I am committed to nurturing this relationship and exploring new avenues for collaboration that will benefit our peoples and contribute to regional and global stability.”
President Barrow expressed his appreciation for Sri Lanka’s steadfast support and emphasized the importance of further strengthening ties between the two nations.
April 24, Colombo (LNW): The President of the Islamic Republic of Iran, Dr. Ebrahim Raisi, is set to embark on a significant journey to Sri Lanka. His mission? To inaugurate the long-awaited Uma Oya Multipurpose Development Project (UOMDP), marking a historic milestone in the bilateral relations between the two nations.
This visit comes in response to a special invitation extended by Sri Lankan President Ranil Wickremasinghe, marking the first visit of an Iranian President to Sri Lanka since the notable visit of former President Dr. Mahmoud Ahmadinejad in April 2008.
The highlight of President Raisi’s itinerary will be his participation in a public ceremony marking the inauguration of the Uma Oya Multipurpose Development Project (UOMDP) this morning. This project, akin to the grand Mahaweli Development Project, stands as one of Sri Lanka’s largest irrigation endeavors, aiming to address water scarcity in the southeastern dry region of the country.
President Raisi’s visit is not merely ceremonial; it holds substantial diplomatic weight as well. Five Memorandums of Understanding (MoUs) are set to be signed during his visit, aiming to strengthen bilateral relations between Iran and Sri Lanka, showcasing a commitment to mutual cooperation and development.
The Uma Oya Multipurpose Development Project (UOMDP) is a crucial initiative for Sri Lanka, aiming to redirect an annual average of 145 million cubic meters (MCM) of excess water from the Uma Oya basin to the Kirindi Oya basin. This redirection, executed with careful environmental considerations, aims to benefit agricultural, industrial, and domestic sectors in the region.
The project, which commenced with an agreement signed in 2007, faced numerous challenges during its construction phase, including technical complexities, financial hurdles, and the impact of the global Covid-19 pandemic. Despite these obstacles, the project persevered, with its completion marking a significant achievement in engineering and bilateral cooperation.
Upon completion, the Uma Oya Multipurpose Development Project will not only address water scarcity issues but also contribute to agricultural development, energy generation, and regional infrastructure enhancement. It symbolizes the unwavering commitment of both nations towards mutual progress and prosperity.
The visit of President Raisi underscores the longstanding ties between Sri Lanka and Iran, dating back centuries. It reflects the depth of their diplomatic relations and the shared vision for a future marked by cooperation and mutual growth across various sectors.
April 24, Colombo (LNW): Showers or thundershowers will occur at several places in Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara districts after 2.00 p.m.
Showers or thundershowers may occur at a few places in Uva province and in Anuradhapura district during the afternoon or night.
A few showers may occur over the coastal areas of Puttalam to Galle via Colombo during the morning too.
Fairly heavy showers more than 50 mm are likely at some places in Western and Sabaragamuwa provinces and in Galle and Matara districts.
Misty conditions can be expected at some places in Sabaragamuwa, Central and Uva 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.
April 23, Colombo (LNW): The US Navy, the US Marine Corps, and the Sri Lankan Navy will conduct a bilateral maritime joint exercise from Monday, including anti-terrorism manoeuvres, the American mission here said.
The joint exercise called the Cooperation Afloat Readiness and Training (CARAT) gets underway two days before the proposed visit of Iran President Ebrahim Raisi to the island nation to inaugurate an Iranian-funded hydropower project.
However, the confirmation of the visit, happening in the current backdrop of Israeli-Iranian tensions, is yet to be announced by the Sri Lankan authorities.
CARAT Sri Lanka will feature the expertise of the US Fleet Anti-Terrorism Security Team (FAST), a US Marine Corps unit specialised in security and anti-terrorism for naval assets, engaging alongside their Sri Lanka Navy Marine counterparts on a full spectrum of naval capabilities, according to an official press release.
The CARAT Sri Lanka bilateral maritime exercise underscores the strong partnership and shared commitment of the United States and Sri Lanka to maintain a free and open Indo-Pacific, the release added.
Taking part in exercises of this nature enables the Sri Lanka Navy to gain confidence, experience and operational training by working alongside an experienced and well-equipped navy like the US Navy, the Commander of the Sri Lanka Navy, Vice Admiral Priyantha Perera, said in the release.
“This can be particularly valuable in situations where the Sri Lanka Navy is required to engage with multiple array of navies for combined operations in the establishment of freedom of navigation and rules-based order in the ocean region, as well as responding to traditional and nontraditional threats in the maritime domain, ” he added.
During his visit to Colombo, Iranian President Raisi will officially inaugurate the Uma Oya Multipurpose Project, featuring two dams and a 120-megawatt power plant constructed by Iranian contractors for USD 500 million, in the central hill region.
The project is set to improve irrigation of 5,000 acres of agricultural land, transferring 145 million cubic metres of water and generating 290 GW/h of power in a year.
April 23, Colombo (LNW): The stage is set to bestow the 120 MW hydro power plant of the Uma Oya Multipurpose Development project to the people on Wednesday 24 amidst allegations of a loss of Rs 200 billion due to delaying the project.
Due to the delay of the Uma Oya Multipurpose Development Project, there has been a loss of nearlyRs 200 billion, the State Minister of Power and Energy Indika Anuruddha said adding that the planned expenditure for this project in 2010 was US$ 529 million.
Irrigation, Wildlife and Forestry Minister Pavitra Wanniarachchi announced that all arrangements have been finalised for the handover of the Uma Oya multi-purpose development project to the public on Wednesday.
Speaking to the media after inspecting the project site, Wanniarachchi expressed satisfaction with the progress and highlighted the significance of the project for the country.
Under the leadership of President Ranil Wickremesinghe and President of Iran Ibrahim Raisi, the project is set to be inaugurated on April, 24 marking a significant milestone in Sri Lanka’s development journey.
The Uma Oya multi-purpose development project, which began in 2010 with an estimated cost of $ 529 million, is a collaborative effort between Sri Lanka and Iran.
The project aims to harness water resources for hydroelectricity generation, irrigation and providing drinking water to several regions.
During her visit to the project sites, she observed the Diaraba and Puhulpola Reservoirs, integral components of the project responsible for water collection for electricity production.
The underground power plant in Ella Karandagolla was also inspected, where the generation of 120 MW of hydroelectricity is set to benefit the national power grid.
Highlighting the project’s impact on agriculture, Wanniarachchi noted that the project will facilitate the cultivation of thousands of acres of paddy fields in Monaragala and Badulla districts.
Additionally, the project will directly irrigate vast stretches of farmland, boosting agricultural productivity benifiting livelihoods of the people in the region.
The project’s scope includes the construction of dams, tunnels, and power lines to facilitate water and electricity distribution. Upon completion, excess water will be directed to reservoirs in the Hambantota district, benefiting further agricultural activities in the region.
However, the Uma Oya project is the only major infrastructure project to which even the anti-establishment Janatha Vimukthi Peramuna has contributed positively.
The diversion of the Uma Oya was first mooted in 1959 in a study carried out by the United States Operations Mission and the Canadian Hunting Survey Corporation.
It also featured in the UNDP/FAO Master Plan for the Mahaweli project during the Dudley Senanayake Government and was the subject of further studies carried out under the Ranasinghe Premadasa and Chandrika Kumaratunga governments. The decision to implement the Uma Oya project was taken when. Karu Jayasuriya and Jayawickrema Perera held the ministerial portfolios of power and energy and irrigation during the UNP government of 2001-2004.
April 23, Colombo (LNW): Despite the government’s rescue efforts with ADB assistance the economically critical yet troubled Micro, Small and Medium Enterprises (MSMEs) have united to launch a new lobby group to evolve effective solutions to their plight thereby ensuring stability and prosperity in the country.
The government said a significant number of small and medium-scale entrepreneurs involved in manufacturing, import, export, tourism, apparel and various other commercial operations have found it very difficult to continue running their enterprises as a result of the economic downturn and the impact of external factors beyond their control.
The Asian Development Bank has agreed to provide working capital support for the small and medium enterprise sector as a relief, the Government Info. Department said.
Rs. 20 billion will be spent on the entire project which has two components. Out of this, Rs. 15 billion rupees will be used to strengthen existing and new enterprises and the remaining amount of Rs. 05 billion will be used to support enterprises under the non-performing loan category.
Named the “Ceylon Federation of MSMEs” the promoters said it represents 1.1 million formal MSMEs in the country and the grouping is apolitical.
The launch coincided with the fifth anniversary of the 2019 Easter Sunday attacks which was the beginning of multiple crises including the COVID-19 pandemic, and political and economic chaos in 2022.
Special guest Prof. Harald Steger, an ex-banker from Switzerland, said being an entrepreneur is very challenging and hence needs support with an enabling environment.
He stressed the need for a development bank dedicated entirely to MSMEs as they are key to socio-economic stability and prosperity.
Ceylon Federation of MSME President Sashika De Silva said the new grouping will be the platform to unite all entrepreneurs in the country and champion the growth of MSMEs.
“The Federation will be the platform designed with a clear vision, strategic approach, and innovative solutions to propel Sri Lanka’s entrepreneurs to new heights,” she said at the launch ceremony held at the BMICH attended by MSMEs from multiple districts, Members of Parliament, politicians, and state sector officials.
She said central to the Federation’s vision is the imperative need for Sri Lanka to transition towards a manufacturing economy, a transformation that cannot be realised within the current framework of laws and regulations primarily favouring imports and trade.
“Recognising the limitations in the Government’s capacity to single-handedly create the necessary environment for this transformation, we have identified key gaps, strategic imperatives, and actionable solutions.
Vice President Mahendra Perera revealed that multiple crises in the country have led to Rs. 1.6 trillion worth of loans in default accounting for 13% of total bank lending.
“The Federation will champion the need to restructure existing debt and obtain working capital,” he added.
April 23, Colombo (LNW): Malaysian budget carrier AirAsia is among six bidders for the divestititure of state-run Sri Lankan Airlines in the request for qualification (RfQ) process extended for four times on the request of the International Finance Corporation (IFC), the transaction advisor on the privatization, the finance ministry announced.
Last year, when the government decided to sell at least 51% of the state-owned carrier, the initial RfQ deadline was December 5, 2023. This was later extended to January 9, then to February 6, then March 5, and April 22 2024.
This was to facilitate the transfer of select Dollar and Rupee debt to the Treasury which was done in March 2024.
Selection of pre-qualified bidders is now extended to May from March and bid submission deadline from May to August and issuance of Letter of Intent from end June to August and Cabinet approval on definite agreement and its signing from June to end September 2024.
AirAsia Consulting has submitted a request for qualification from potential investors for the acquisition of shares in SriLankan Airlines Limited, a statement released by Sri Lanka’s finance ministry said.
FitsAir, Sri Lanka’s privately-owned low-cost airline, has also submitted a RfQ for the acquisition of shares in SriLankan Airlines.
The other front liner was the Hayleys PLC whose controlling shareholder and Co-Chairman Dhammika Perera billioneir businemen of Sri Lanka
The document also named Dharshaan Elite Investment Holding (Pvt) Ltd, Sherisha Technologies Private Limited, and Treasure Republic Guardians Limited as the other bidders.
Sri Lanka’s Aviation Minister Nimal Siripala De Silva says the Sri Lankan Cabinet has recently agreed to take over debts of USD510 million belonging to SriLankan Airlines (UL, Colombo International).
It will also provide USD60-70 million in working capital for the flag carrier over the next six months.
He added that managing the national carrier as a joint venture is the solution as SriLankan was in total debt up to US$ 1.8 billion
Sri Lankan Chairman Ashok Pathirage disclosed that the airline earns over Rs. 330 billion turnover and with the acquiring of more aircraft this can be further increased, he added.
Economic expert Professor Wasantha Athukorale of the Peradeniya University said SriLankan Airlines has recorded losses due to inefficiency and weak administration of politicised top management who were incompetent in making the airline profitable.
During the previously completed fiscal year 2022/2023, the airline generated a passenger and cargo revenue of $ 994 million and an operating profit of US$53 million after recording losses during the past few years.
The operating profit at group level was $104 million. The group‚ however‚ incurred financing costs of $101 million, resulting in a profit of $ 3 million.
