March 27, Colombo (LNW): The Attorney General’s Department has announced its intent to present the facts to court on Wednesday (27) regarding former President Maithripala Sirisena’s recent statement to the Criminal Investigation Department (CID) concerning the Easter attacks.
In addition to reporting the facts, the AG’s Department disclosed plans to petition the court to summon Maithripala Sirisena, urging him to provide a statement in the legal proceedings.
This decision follows the transmission of Sirisena’s statement to the CID, which was forwarded to the Attorney General’s Department on Tuesday (26).
Former President Sirisena’s involvement came into focus after he issued a statement to media in Kandy on March 22, prompting his summons by the CID. He subsequently recorded a statement with the CID on March 25, marking a significant development in the ongoing investigations surrounding the Easter attacks.
March 27, Colombo (LNW): The Sri Lankan administration is currently focusing on women’s cricket development, particularly providing international exposure to female cricketers under 19. As the U-19 team prepares to face England and Australia at home, attention is drawn to the participation of Amurtha Surenkumar, a Sri Lankan Tamil representing England, highlighting the diverse talent pool.
Leading the Sri Lanka U-19 team in this significant tournament against cricket powerhouses like England and Australia is Manudi Nanayakkara, who previously captained the team to victory in the tri-series against Bangladesh. Although the team will miss the experienced Vihmi Gunaratne due to national team commitments, their resilience and capability to face challenges have been proven during the tour of Bangladesh.
The T20 and ODI series in this tournament, sanctioned by the Sports Minister, will feature the Sri Lanka U-19 team. Sri Lanka Cricket has released images of the team, along with photos capturing previous occasions when England and Australia visited Sri Lanka, emphasizing the significance of the upcoming series.
President Ranil Wickremesinghe said it is necessary to maintain law and order in the country, while highlighting the crucial steps taken to safeguard state properties, including the parliament, the prime minister’s office and the president’s office from “violence orchestrated under the guise of a struggle”. Despite criticisms labelling these actions as human rights violations, the President asserted that such measures were imperative for preventing economic instability.
The Samagi Jana Balawegaya-led government will provide meals to all school children, said party leader MP Sajith Premadasa, slamming the incumbent government’s current meal distribution programme. He pointed out that the government has commenced providing meals only for elementary school children, which was a shameful policy.
The Colombo High Court on Tuesday (March 26) dismissed preliminary objections raised by Keheliya Rambukwella and another accused in a misappropriation case, stating that the lawsuit filed by the Bribery Commission could not be maintained.
A five-member Supreme Court bench has been appointed by Chief Justice Jayantha Jayasuriya to consider the fundamental rights (FR) petitions filed challenging the passing of the Online Safety Act in the parliament. The petitions have been fixed for July 24 for confirmation of facts.
The Criminal Investigations Department (CID) has received an order to conduct a comprehensive investigation into a letter from an informant claiming that plans were underway to assassinate the Fort Magistrate Thilina Gamage using a T81 grenade launcher. The informant has also claimed that an individual had requested this firearm over the phone to kill the Magistrate. Minister of Public Security Tiran Alles has ordered an immediate probe into the alleged assassination attempt.
The Sri Lankan Cabinet has approved an increase in the national minimum salary. As per the provisions of the National Minimum Wage of Workers Act (No. 03 of 2016), the minimum national salary used to stands at Rs. 12,500/-. A tertiary subcommittee, consisting of representatives from trade unions and employers in small and medium-level enterprises, which was appointed under the guidance of the National Labour Consultancy Board has recommended raising the minimum salary to Rs. 17,500/-.
The Ministry of Public Security has announced the implementation of a special security program across Christian churches during the upcoming Easter Sunday services. With Good Friday falling on the 29th and Easter Sunday on the 31st, authorities said they are taking proactive steps to ensure the safety of worshippers.
8. The Governor of Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, asserted that he would not resign over the controversy surrounding the salary increase. He commented that the Central Bank’s duty towards the country includes implementation of the monetary policy, and maintaining the stability of the banking system under the CBSL Act.
Singapore-flagged container ship ‘Dali’ has collided with a pillar of the Francis Scott Key Bridge in Baltimore resulting in the collapse of the entire structure. According to the BBC, shipping company Synergy Marine Group had confirmed that all crew members, including the two pilots who were aboard, have been accounted for and there are no reports of any injuries.The vessel is 300m long and was on its way to Colombo in Sri Lanka.
The Asian Cricket Council (ACC) has announced the upcoming Women’s Asia Cup 2024, scheduled to take place in Dambulla, Sri Lanka, from July 19th to July 28th, 2024. This edition of the tournament will feature eight teams, one more than the previous edition in 2022, indicating the growing interest and participation in women’s cricket across Asia.
March 27, Colombo (LNW): The Ambassador of Sri Lanka to Brazil, Sumith Dassanayake, who also serves as the concurrent envoy to Paraguay, recently presented his Letters of Credence to President Santiago Peña Palacios at the Presidential Palace in Asunción on March 19, 2024.
During the credential ceremony, Ambassador Dassanayake expressed gratitude for the warm welcome and conveyed Sri Lanka’s eagerness to strengthen ties with Paraguay. He specifically sought Paraguay’s support at the United Nations Human Rights Council sessions in Geneva, considering Paraguay’s current membership on the council. President Palacios assured his commitment to supporting Sri Lanka in this regard.
Prior to the ceremony, Ambassador Dassanayake held discussions with Paraguay’s Minister of Foreign Affairs, Rubén Ramĺez Lezcano, where they discussed socio-political and economic developments in Sri Lanka. The Ambassador proposed establishing a Joint Commission on Political and Economic Cooperation, a suggestion welcomed by the Foreign Minister.
Further engagements included discussions with Vice Minister Victor Alfredo Verdun Bitar on enhancing bilateral and multilateral relations, as well as expediting pending agreements between the two countries. These agreements cover areas such as political consultations, visa exemptions for diplomatic passport holders, and cultural cooperation.
Ambassador Dassanayake also explored opportunities for Paraguayan entrepreneurs in Sri Lanka’s trade, tourism, and investment sectors during a meeting with Andrea J. Martinez Ayala, Head of Trade Affairs at Paraguay’s Foreign Trade and Investment Directorate.
Moreover, the Ambassador visited the Paraguayan Association of Travel and Tourism Companies (ASATUR) headquarters, where he discussed cooperation in the tourism sector with ASATUR President Monica Costa Barriocanal. Both parties agreed to facilitate collaboration between Paraguayan investors and Sri Lankan tour operators, further bolstering tourism ties between the two nations.
March 27, Colombo (LNW): The Cabinet has given its approval to a resolution put forward by President as the Technology Minister to roll out a National Digital Economic Strategy aimed at advancing Sri Lanka’s economic landscape.
The strategy, designed to align with the nation’s vision of achieving a higher revenue economy by 2048, sets forth a comprehensive plan to harness digital technologies for economic growth and development. Developed in consultation with experts, professional institutions, and vocational boards, the “National Digital Economic Strategy for Sri Lanka – 2030” outlines key initiatives and goals to propel the country towards a digitally empowered future.
March 27, Colombo (LNW): Chinese Prime Minister Li Qiang and Sri Lankan Prime Minister Dinesh Gunawardena oversaw the signing of nine new agreements aimed at enhancing bilateral cooperation between the two nations. The signing ceremony, held in Beijing, marked the beginning of a new chapter in the longstanding friendship and cooperation between China and Sri Lanka.
Prime Minister Gunawardena paid tribute to the martyred war heroes at the Monument to the People’s Heroes at Tiananmen Square before engaging in bilateral discussions with Prime Minister Li Qiang. Following the signing of the agreements, both leaders emphasized the importance of deepening cooperation not only in economic matters but also in social, cultural, educational, and agricultural sectors.
Representing Sri Lanka, Secretary to the Prime Minister Anura Dissanayake signed the agreements, while the secretaries of nine Ministries represented China. State Ministers Shehan Semasinghe and Ashoka Priyantha, along with MP Yadamini Gunawardena, were also present at the bilateral talks, underlining the significance of the agreements in strengthening ties between the two countries.
March 27, Colombo (LNW): President Ranil Wickremesinghe delivered a keynote speech at the Digital Public Infrastructure (DPI) Seminar, highlighting Sri Lanka’s commitment to agricultural modernization and its goal of reducing multi-dimensional poverty to no more than 10 percent by 2035. He emphasized the importance of the seminar amid the nation’s economic stabilization efforts and outlined plans for economic transformation.
Organized by the Indian High Commission in Colombo and Sri Lanka’s Technology Ministry, the seminar aimed to explore the transformative potential of DPI in service delivery, community empowerment, and economic enrichment. President Wickremesinghe expressed intentions to present legislation to Parliament by mid-year to enable the functioning of the proposed agency, crucial for Sri Lanka’s competitiveness, especially in the emerging Indian Ocean region.
Characterizing Sri Lanka’s economy as a “patchwork economy,” the President stressed the need to transition to a cohesive digital economy. Plans include establishing a Digital Transformation Agency and an AI center with a budget allocation of LKR 01 billion to build a robust digital economy. Additionally, AI will be introduced into schools within five years, extending to universities, with collaboration with Indian institutions.
State Minister of Technology Kanaka Herath outlined Sri Lanka’s commitment to operationalizing the DIGIECON 2030 roadmap, focusing on upgrading networks and promoting Digital Financial Services (DFS) for financial inclusion. Plans for a global investment summit on June 25 were announced to encourage investment in Sri Lanka’s tech ecosystem.
Foreign Minister Ali Sabry, Ports, Shipping, and Aviation Minister Nimal Siripala De Silva, Indian High Commissioner Santosh Jha, and other notable stakeholders from India and Sri Lanka were present at the event, which aimed to contribute significantly to the nation’s development plans and programs.
March 27, Colombo (LNW): Showers or thundershowers will occur in most places of the island after 2.00 p.m.
Heavy showers above 100 mm are likely at some places in Western, Sabaragamuwa North-western and Central provinces.
Several spells of showers may occur in Eastern, Uva and southern provinces in the morning too.
Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces and in Kalutara, Galle and Matara districts 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.
March 26, Colombo (LNW): McDonald’s local franchisee Rusi Pestonjee is to challenge the ex-parte enjoining order issued against him over a dispute concerning the sale of shares.
Pestonjee owns 98% stake in International Restaurant Systems Ltd., the local franchisee of McDonald’s.
Colombo Commercial High Court Judge Sumith Perera last week issued an enjoining order preventing Pestonjee from using the name McDonald’s in any way as well as sale of its food menu in 11 outlets until 4 April.
The Court made this order consequent to a lawsuit filed by McDonald’s Corporation, US seeking the court’s jurisdiction under the provisions of the Intellectual Property Act, No. 36 of 2003.
The plaintiff stated that it has terminated the right of the defendant to use the name McDonald’s or any name in any way or manner similar to the name McDonald’s and to use any name which would convey to the public that the said restaurants/outlets is in any way or manner connected to McDonald’s.
The plaintiff stated that the basis of the Development Agreement entered into in August 1997 has ceased to exist due to the actions of the defendant. The plaintiff further stated that the plaintiff does not desire the defendant to be a franchisee and to operate any restaurant under the name McDonald’s.
Dr. Romesh De Silva PC instructed by Sanath Wijewardane appeared for the plaintiff.
A spokesperson for the franchisee said that McDonald’s action is related to sale of shares and not due to hygienic issues as widely reported.
“As per the agreement Pestonjee is required to sell only up to 50% ownership of the local franchise entity but McDonald’s is demanding 100%. We will be contesting the enjoining order,” the spokesperson added. “
McDonald’s (MCD.N), opens new tab has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, an attorney for the U.S. company said on Sunday.
“The parent company decided to terminate the agreement with the franchisee due to standard issues,” said Sanath Wijewardane, an attorney for McDonald’s. “They are not in business in the country. They may decide to return with a new franchisee.”
He said the deal was cancelled on Wednesday but the stores had continued to operate for some days.
Wijewardane declined to describe the issues but local media reported that McDonald’s went to court against Abans over allegations of poor hygiene.Abans says on its website, opens new tab it first partnered with McDonald’s in 1998.
March 26, Colombo (LNW): An eminent economist and former Central Bank Deputy Governor W.A. Wijewardena says the real purchasing power of the people have halved at present in comparison to 2021.
According to him, in terms of the new series of the Colombo Consumers’ Price Index or CCPI, in January 2021 when the CCPI was 100, it cost a family of 3.8 members Rs. 91,880 to buy the basket of real goods and services involved.
In January 2024 when CCPI has increased to 200.6, the family should spend Rs. 184,311 to buy the same basket of real goods and services. That has increased the cost of living by 100%.
“If a family has the same income level as in January 2021, it amounts to cutting their real purchasing power by a half. This is an inflation tax which Sri Lankans have been paying over the period,” says Wijewardena.
Hence, it is not the current tax burden only that people should worry about. It is the total Government expenditure, known as the gross expenditure, about which they should be worried.
If the Government expenditure level is high and it is financed by taxing people, borrowing from both domestic and foreign sources, and printing money leading to inflation, people are forced to bear a burden.
Hence, higher the Government expenditure, greater the burden being borne by people.
For instance, the Budget 2024 envisages to raise Rs. 3.8 trillion by way of taxes and another Rs. 307 billion as other incomes.
But the total Government expenditure that includes the repayment of both domestic and foreign debt as well has been estimated at Rs. 11.7 trillion or 35% of estimated GDP.
It has generated a gross financing requirement of Rs. 7.4 trillion or 22% of GDP. Since the new Central Bank Act has prohibited the direct money printing to finance the budget, the entirety of the gross financing requirements should be financed by borrowing from the domestic and foreign sources and from commercial banks.
Thus, it is the total Government expenditure that should worry citizens instead of the mere tax payments.
The total expenditure of the Government, known as gross government expenditure, is made up of the recurrent or consumption expenditure, expenditure incurred for building the country’s capital stock, and money used for repaying the maturing Government debt.
Financing that expenditure, whether it is done through taxes, borrowings, or money printing, or a combination of all the three, is a burden to the people. Taxes force them to bear the burden today, borrowings tomorrow, and inflation today as well as the future.
