January 07, Colombo (LNW): Deputy Inspector General (DIG) in charge of Traffic Indika Hapugoda elaborated on the objectives of the ‘Yukthiya’ (Justice) operation, a special traffic initiative undertaken by the Sri Lanka police.
Deputy Inspector General Hapugoda clarified that the primary focus of vehicle checks within this operation is to curb narcotics smuggling, particularly beyond the boundaries of Colombo.
The initiative aims to prevent the illicit transportation of drugs from Colombo to other areas and to apprehend any wanted suspects attempting to flee from Colombo.
To facilitate efficient enforcement, DIG Hapugoda outlined a distinctive feature of the operation. Police officers will utilise a special sticker, affixed to the left side of the windscreen of checked vehicles.
This measure ensures that vehicles which have undergone inspection are easily identifiable at subsequent checkpoints, streamlining the overall monitoring process, he emphasised.
The ‘Yukthiya’ operation reflects a strategic effort by the Police to enhance traffic management, combat narcotics-related activities, and apprehend individuals with legal implications attempting to evade authorities by traversing from Colombo to other regions.
Opposition Leader Sajith Premadasa recently urged the government to suspend the Parate execution law considering the economic situation in the country. He Claimed that more than 400 properties of small and medium-scale industrialists have been seized under the Parate execution law within the first four months of 2023. Premadasa also said leasing companies were illegally seizing vehicles with defaulted leasing installments and added that it was an obstacle to the SMEs to carry on with their business.
Today small and medium-scale enterprises are facing a huge crisis today. This is due to 3 big reasons.
The senseless Easter Sunday attacks
The long COVID Shutdowns of Gotabaya Rajapaksa government
The craziest interest hike 10% – 36% in the history of Sri Lanka . And the subsequent interest penalties imposed by banks..
All this resulted in businesses that were once viable becoming totally unviable.
Long delays in the debt restructuring.
Government
State Minister of Finance Shehan Semasinghe said the government was looking into the matter and added that it should be done in consultation with commercial banks along with the Central Bank. The parate law, which has a history of 30 years, should be reformed according several business houses to ensure that the action is used sensibly by banks in the future. Given that the industrialists should be provided with some relief to recover from the crisis. Several Parliamentarians called on the Central Bank to issue a circular to suspend the Parate law without amending the law which would take time. In fact they argued such circulars in the past where used where the parate law was suspended by the CB for six months to small and medium scale rice millers through a circular.
CBSL Governor
However the CBSL Governor on the 1 st of January showed scant interest to protect the SMEs. He said no one must be allowed to play with the bank deposits. Critics after January 1 st poorly planed interview of the governor said the governor must first learn both banking and central banking. First, banks lend in book entries by creating deposits, not lending out of deposits received. Second, central bank’s responsibility is not the protection of depositors. He is trying to create an unnecessary depositor panic by misleading the public. The Central Bank governor also said Public funds would only be utilised as the last resort to meet the recapitalisation requirements of the banking sector to ensure stability within the financial system. They pointed out that a Bank’s shareholders should be doing that in the first place. It is not the tax payers. That clearly showed the CBSL governor lacked the basic understanding of how banks are financed as the regulator of the banking system. Furthermore they pointed out the Central bank should be a monetary organization and not be a organization working on behalf of banks. If central bank is working for banks, they should get their salaries from banks. Not use the tax money and talk on behalf of banks.
Public Opinion
Tania Abeysundara Head of the SME Organization stated that the CBSL Governor had orchestrated a scenario leading to the country’s declaration of bankruptcy unilaterally , hindering the functioning of businesses. She further accused the Governor of now blaming entrepreneurs for colluding. “There are Rs. 1.2 trillion non-performing loans solely due to the dire situation created by the CBSL Governor pushing interest to record levels.” she accused. The Chairperson remarked that the rise in taxes will only guarantee an escalation of non-performing loans to Rs. 2 trillion in the coming days. “Will these loans not come under the Parate Law? Who will be held responsible?” she asked. She argued that the Parate Law does not safeguard the interests of the people but rather serves to protect the banks. However according to bankers If the Parate Rights are taken away, banks will be extremely selective in lending and the availability of finance will be to a narrowing segment of entrepreneurs, resulting in credit to the private sector shrinking. So it is up to the independent Central Bank to act sensibly and perform their role in the best interest of the country .
January 07, Colombo (LNW): The harvest festival of Pongal, traditionally celebrated by Tamils worldwide, unfolded a week early this year in Sri Lanka’s Eastern Province, India’s Karnataka-based Deccan Herald reported.
The region made history by hosting its inaugural Jallikattu, a bull-taming sport, marking a significant departure from its roots in Tamil Nadu.
Eastern Province Governor Senthil Tondaman and the Tourism Bureau orchestrated the event, drawing the participation of over 200 bulls and 100 bull tamers.
Enthusiasts began queuing up at Trincomalee’s Sambur public playground as early as 7 am to witness the spectacle firsthand.
Thondaman inaugurated the event, where a temple bull was the first to charge through the vaadivaasal into the arena, prompting a flurry of young men attempting to tame it.
More than 200 adorned bulls, including those raised by Tondaman’s family, were successively released, with victorious tamers rewarded with household appliances such as mixer grinders, rice cookers, and ceiling fans.
Vaadivaasal, the narrow passage through which bulls enter for taming, facilitated the smooth progression of the event.
Although ethnic and plantation Tamils celebrate Pongal annually, Jallikattu has not traditionally been part of the harvest festival. This marked the first occurrence of the sport in Sri Lanka.
P Mathan, Chairman of the Eastern Province Tourism Bureau, revealed that over 5,000 participants engaged in the historic Jallikattu event.
Experts from Tamil Nadu and members of the Jallikattu Protection Committee collaborated with local organisers, ensuring the event’s successful execution, with the Animal Husbandry department overseeing the bulls’ fitness for participation.
Jallikattu, celebrated with fervor in various Tamil Nadu districts during the Tamil month of Thai (mid-January to mid-February), took on a novel dimension in Sri Lanka’s Eastern Province this year.
January 07, Colombo (LNW): During the initial four days of this year, Sri Lanka experienced an influx of more than 25,000 tourists, the Sri Lanka Tourism Development Authority (SLTDA) announced.
From January 1st to the 4th, a total of 25,619 tourists visited the country, with the largest contingent of 5,060 arriving from Russia, followed by 3,333 from India.
The SLTDA further noted a considerable number of tourists arriving from diverse countries, including Germany, Britain, Australia, China, France, Netherlands, and the United States.
It’s worth highlighting that, in the preceding year, Sri Lanka recorded a total of 1,487,303 tourist arrivals.
This data illustrates the ongoing global interest in Sri Lanka as a tourist destination, contributing significantly to the country’s tourism sector.
January 07, Colombo (LNW): Four Sri Lankan cricketers have transitioned to roles within the Sri Lanka Police after their stint with the Police Cricket Club since the previous year.
Notably, Kusal Janith Perera and Chamara Silva have assumed positions as Chief Police Inspectors, while Ashen Bandara and Nuwan Pradeep have taken on roles as Police Inspectors.
These cricketers, who were part of the Sri Lanka Police Cricket team that achieved joint champion status in the recent Sri Lanka Cricket first-class competition, were officially appointed to their new roles.
Public Security Minister Tiran Alles presented the official appointment letters to the four players, with the ceremony witnessed by Acting IGP Deshabandu Tennakoon.
PMD: President Ranil Wickremesinghe assured on Saturday (06) that comprehensive solutions will be presented to tackle the challenges faced by businessmen in the Northern Province within the next two months.
He emphasised that officials from pertinent Ministries will conduct visits to the Northern Province in the coming two weeks to evaluate the situation. The government plans to establish a dynamic agency specifically dedicated to addressing the issues encountered by the business community in the province.
President Wickremesinghe conveyed these statements during a discussion held earlier today at the Jaffna District Secretariat, where he engaged with industrialists, fishermen, and farmers of the Jaffna District.
Approximately 300 representatives from the industrial, fishing and farming sectors in the Northern Province are actively engaged in this event, wherein they presented their challenges and proposed new ideas related to their respective industries to President Ranil Wickremesinghe.
President Wickremesinghe, attentively addressing the concerns raised, promptly initiated actions to provide solutions to certain issues.
Notably, the industrialists have appealed to the President for the establishment of an industrial zone in the Northern Province. In response, the President has directed officials to explore suitable land areas for this purpose.
Additionally, President Ranil Wickremesinghe has directed officials to expedite the establishment of a Provincial Business Promotion Centre in the Northern Province.
Acknowledging the crucial role of business development in the province’s active contribution to the national economy, the President has instructed officials to swiftly address the challenges hindering this progress.
Simultaneously, President Ranil Wickremesinghe engaged in a meeting with the academic staff of Jaffna University at the Jaffna District Secretariat, today (06).
Jaffna University Vice-Chancellor, Prof. S. Srisatkunarajah, along with the academic staff, including senior lecturers of the university, was in attendance. During the meeting, a comprehensive development plan outlining transformative changes for Jaffna University was presented to President Ranil Wickremesinghe.
President Ranil Wickremesinghe proposed a comprehensive redesign of the university system, particularly emphasising technological advancements. He urged the implementation of diverse approaches to ensure English proficiency among all university students, advocating for the use of distance learning methods.
Acknowledging the challenge of human resources, the President suggested tapping into the diaspora, including retired individuals, and welcoming foreign lecturers who express interest. Support, such as tickets and residential options, would be provided based on individual preferences.
The President stressed the importance of understanding the expectations of those willing to contribute, and measures have already been introduced to facilitate their involvement. He encouraged clear communication of specific requirements to ensure a seamless process.
To address the human resource shortage, the President proposed exploring the option of attracting non-diaspora lecturers, possibly from Sri Lanka or other countries like India (Bangalore) or the United States. External lecturers would be engaged for a defined period, with Jaffna leading the initiative for other universities to follow.
The President also suggested considering agreements with other universities, allowing them to provide lecturers as needed. This collaborative effort would rely on the commitment of each university to implement these measures successfully. In terms of foreign students, universities were encouraged to decide on enrolment targets based on their willingness and capacity.
With the general elections taking place on 7 January, Reporters Without Borders (RSF) condemns the lack of measures to protect Bangladeshi reporters and presents its recommendations so that they can work in safety.
RSF is concerned about the safety of journalists in a particularly tense climate, as some 120 million Bangladeshis are called to the polls on Sunday 7 January to elect new members of parliament. In recent months, attacks against journalists have multiplied, fostering a climate of terror favourable to the regime in power: some have been murdered, others imprisoned and dozens of reporters brutalised while reporting.
The government is preparing for a tense election, with the army deployed since 3 January for a period of at least a week to ensure, according to the authorities, that the elections are “free”, “fair”, “impartial” and “peaceful”. The main opposition party, the Bangladesh Nationalist Party (BNP) – 20,000 of whose activists have been arrested and 88,000 others are facing legal action – decided to boycott the event in view of what it considers to be “another electoral sham”. RSF has made a number of recommendations to journalists to prepare themselves against the risk of violence.
“The current government is ending its term of office as it began five years ago. By almost systematically censoring all critical information, turning a blind eye to violence against journalists and making abundant use of propaganda, it is confirming that it has lost all credibility when it comes to democracy. RSF calls on Prime Minister Sheikh Hasina and her party to end their harmful grip on information. We recommend that journalists take several steps to cover these elections in the safest possible way.”
South Asia desk Reporters Without Borders
Since its controversial victory in the last elections, the government of Sheikh Hasina (of the Awami League, the centre-left party in power since 2009) has paid no heed to the repeated warnings of numerous press freedom organisations and associations. Sheikh Hasina has been listed by RSF as one of the 37 press freedom predators in 2021.
In 2023, three journalists were murdered with total impunity. Six media professionals are still in prison in the country, while dozens of others have been the victims of violence, particularly after publishing articles on government corruption or certain local potentates.
In recent months, election candidates, militias and student wings of the ruling party, as well as radical religious groups, have also stepped up their attacks on journalists, while the government looks on. During an opposition demonstration that degenerated on 28 October, around thirty journalists were attacked by demonstrators, both opponents and supporters of the government, as well as by the police.
The reign of fear
Few journalists still believe in a positive future for press freedom in the country, as Zulkarnain Saer Khan, a Bangladeshi journalist living in exile in London, told RSF: “Journalists bringing forth the wrongdoings of the current kleptocratic, autocratic government are never safe. When there is no press freedom, when anyone can be apprehended on trumped-up charges, […] there really isn’t much hope.” In March 2023, in retaliation for one of his articles denouncing corruption in the Prime Minister’s entourage, his own brother, who had remained in Bangladesh, was brutally beaten in front of his house by four unidentified individuals.
Given the lack of security measures for journalists wishing to cover the elections, RSF advises them to follow the following recommendations:
If you are in the field, call your family members at regular intervals and let them know where you are.
In the event of a check, clearly identify yourself and present a valid press card or letter of accreditation.
If possible, activate and use: a tracking device such as an Airtag hidden in your clothes or the “Google activity” feature by giving a trusted third party access to your Google account. In the event of an abduction, these tracking devices will make it possible to identify your location.
As far as possible, equip yourself with safety helmets, protective glasses, bullet-proof waistcoats and gas masks. A medical kit is also recommended.
Identify the nearest emergency medical services in advance, so that you can obtain rapid treatment in the event of injury.
To anticipate the loss, theft or seizure of your equipment, remember to use a password manager and activate double authentication (2FA) if possible on all your accounts. If you suspect that your devices are being spied on, don’t hesitate to ask for help from RSF’s Digital Security Lab, which can be contacted at this address: [email protected].
Share the emergency contact details of RSF or other trusted organisations, as well as those of a lawyer, with members of your family so that they can contact them in an emergency.
January 07, Colombo (LNW): The Securities and Exchange Commission (SEC) has granted approval for a regulatory framework designed to facilitate the issuance and listing of Infrastructure Bonds on the Colombo Stock Exchange (CSE).
This significant decision by the SEC is geared towards fostering both foreign and domestic investments in infrastructure projects, thereby contributing to the economic development and overall well-being of the nation.
The SEC in a statement emphasised that Infrastructure Bonds play a pivotal role in raising capital for critical projects encompassing areas such as roads, rail, water management, waste management systems, airports, seaports, mixed development projects, natural disaster protection systems, deep water ports, gas supply systems, utility projects, and telecommunications infrastructure.
These projects are deemed essential for economic growth and sustainability. Recognising the necessity for Sri Lanka to cultivate a market for Infrastructure Bonds, the SEC aims to mobilise long-term capital essential for the successful implementation of crucial infrastructure initiatives.
Full Statement:
The scope of infrastructure development in emerging economies has evolved significantly in recent decades and now comprises a broad range that includes traditional infrastructure projects such as power, oil and gas, and water as well as low-carbon, climate-resilient infrastructure such as renewable energy projects.
SEC carried out a study of comparable jurisdictions which had successfully used Infrastructure Bonds listed in the capital market to finance major development projects of their respective governments.
Aimed at fostering development, transparency, and investor confidence in the capital market, the SEC has set a Capital Market Reforms Agenda which includes 12 Key Areas for action. The introduction of infrastructure financing products are part of the Reforms Agenda and is strategically designed to propel the capital market to new heights and contribute significantly to its growth and sustainability. The CSE is expected to market this product actively among potential issuers.
The regulatory framework for Infrastructure Bonds has provisions to ensure investor protection, stringent due diligence, disclosure, and reporting requirements for issuers in order to keep investors informed on the performance of the infrastructure projects, utilisation of proceeds and risk factors pertaining to the infrastructure projects as well as enforcement procedure for non – compliance with the regulatory framework.
Disclosure requirements include details of the project in which the capital raised is deployed or allocated, progress updates on how the project fulfills its core purpose and objectives and benefit to the public at large, and any deviations in the use or allocation of the capital proceeds. This initiative reflects SEC’s commitment to create an enabling environment for long – term investments in infrastructure projects that support the nation’s economic growth and development.
Chairman SEC, Mr. Faizal Salieh, stated, “The misallocation of capital is a root cause of our economic crisis. It is our objective to enable instruments that can raise long – term capital for development projects and provide investor assurance that such capital is allocated to the project’s stated purpose with transparency and accountability. We have now created an opportunity for Government bodies such as Municipal Councils, Urban Councils, Local Government Councils, the Urban Development Authority, etc. and even large private sector companies to finance infrastructure projects through these bonds.”
January 07, Colombo (LNW): The Bar Association of Sri Lanka (BASL) has expressed deep concern over an apparent surge in arbitrary arrests and criminal activities, signaling a potential threat to the country’s legal framework.
In an official statement, the BASL’s Executive Committee unequivocally denounced a regrettable shooting incident in Weligama, resulting in the tragic death of a Police Sergeant and the injury of a Sub Inspector from the Colombo Crimes Division (CCD).
The incident was reported to have occurred during an operation targeting a group allegedly involved in illicit drug activities.
Emphasising the fundamental role of the legal system in upholding democracy and the Rule of Law, the BASL stressed the critical importance of maintaining the credibility and transparency of investigative, inquiry, trial, and punitive processes.
It underscored the significance of adhering to due process and upholding the rule of law, and strongly criticised police raids, including property demolitions executed without valid search warrants or orders, deeming such actions unlawful and in blatant violation of established legal protocols.
The BASL highlighted that such unwarranted activities not only compromise the foundational principles of justice but also erode public confidence in the integrity of law enforcement agencies.
The Association cited Article 13 (4) of the Constitution, emphasising that no person should face punishment without a competent court order, even for convicted criminals.
Expressing deep concern over recent statements by the Minister of Public Security implicating certain lawyers as conspirators with drug offenders, the BASL raised alarm over the lack of police accountability and unchecked impunity, creating an insecure environment for individuals.
The association urgently called for transparency, accountability, and the protection of the rights of individuals involved in legal proceedings, and insisted that immediate corrective actions should be taken by the authorities to address these issues, hold responsible parties accountable, and restore public trust in the justice system.
The BASL concluded by emphasising the imperative need to uphold the principles of due process and the rule of law to establish an equitable and just society for all its members.
January 07, Colombo (LNW): Showery weather condition is expected to enhance over Northern, North-central, Eastern and Uva provinces from today (07), the Department of Meteorology said in its daily weather forecast today.
Showers will occur at times in Eastern and Northern provinces, with several spells of showers being expected in North-central and Uva provinces.
Showers or thundershowers will occur at several places in other areas of the island after 1.00 p.m.
Fairly heavy showers above 75 mm are likely at some places in Western, Sabaragamuwa Southern and Central provinces.
Misty conditions can be expected at some places in Western, Sabaragamuwa and Central provinces during the morning.
The public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Condition of Rain:
Showers or thundershowers may occur at several places in the sea areas off the coast extending from Kankasanthurai to Hambantota via Trincomalee, Batticaloa and Pottuvil. Showers or thundershowers can occur in the other sea areas around the island during the evening or night.
Winds:
Winds will be easterly or north-easterly and wind speed will be (20-30) kmph. Wind speed may increase up to 40 kmph at times in the sea areas off the coasts extending from Colombo to Kankasanthurai via Puttalam and Mannar.
State of Sea:
The sea areas off the coasts extending from Colombo to Kankasanthurai via Puttalam and Mannar can be moderate at times. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
