March 24, Colombo (LNW): In response to growing concerns regarding the escalation of prices for essential commodities and the depreciation of the Sri Lankan Rupee against the US Dollar, Finance State Minister Ranjith Siyambalapitiya has introduced a new strategy aimed at stabilising the market in anticipation of the upcoming festive season.
During a press briefing, Siyambalapitiya unveiled plans for the daily disclosure of prices for imported goods and Value Added Tax (VAT), effective from the forthcoming Monday.
This initiative will be overseen by the Consumer Affairs Authority.
The primary objective of this measure is to furnish consumers with real-time pricing information, enabling them to exercise greater financial prudence amidst the prevailing inflationary environment.
Additionally, the Minister assured the public that comprehensive measures have been put in place to ensure an uninterrupted supply chain of goods, thereby mitigating the risk of any potential shortages that could disrupt festivities during the upcoming season.
March 24, Colombo (LNW): India, the world’s leading exporter of onions, has extended its ban on onion exports indefinitely, a decision that has surprised markets and is poised to escalate prices in various international markets, Reuters reported.
Initially imposed in December, the ban was scheduled to conclude on March 31. However, an official order issued late on Friday has extended the prohibition until further notice.
The extension comes despite a significant drop in local onion prices, which have decreased by more than half since the implementation of export restrictions.
Additionally, the ongoing harvest season has brought fresh supplies to the market, leading traders to anticipate the lifting of export limitations.
An executive from a Mumbai-based export firm, speaking on condition of anonymity, described the extension as surprising and unnecessary given the declining prices and increased supplies from the new crop season.
Prices in major onion-producing regions like Maharashtra have plummeted from 4,500 rupees per 100 kg in December to 1,200 rupees per 100 kg currently.
Prime Minister Narendra Modi’s government is entering an election season, with polls scheduled to take place over nearly seven weeks starting from April 19.
The decision to extend the export ban could have political implications as Modi seeks re-election for a third consecutive term.
The ban’s impact extends beyond India, affecting countries like Bangladesh, Malaysia, Nepal, and the United Arab Emirates, which heavily rely on Indian onion imports to meet domestic demand.
Consequently, these nations have grappled with soaring prices due to the restricted supply.
The ban has also created opportunities for competing exporters to capitalise on the market vacuum left by India.
With India typically offering shorter shipment times compared to rivals like China or Egypt, it accounts for more than half of all onion imports by Asian countries.
India’s onion exports reached a record 2.5 million metric tons in the financial year ending on March 31, 2023, underscoring its significance in global onion trade.
March 24, Colombo (LNW): In March, approximately 1,000 workers from Sri Lanka are anticipated to arrive in Israel to engage in agricultural work, primarily focused on harvesting citrus fruits.
This information was provided by the Director General of Israel’s Population and Immigration Authority.
Following the Hamas massacre on October 7, distress has permeated the agricultural sector.
Consequently, numerous efforts have been undertaken to address the resulting challenges.
These efforts include forging agreements with other nations to recruit foreign laborers and facilitating discussions between Israeli employers and embassy representatives.
The ministry has emphasised that the influx of Sri Lankan workers will offer immediate assistance in meeting the labor demands of this critical industry.
Furthermore, their contribution is viewed as instrumental in safeguarding the food security of the State of Israel.
March 24, Colombo (LNW): Minister of Public Security Tiran Alles has directed Inspector General of Police (IGP) Deshabandu Tennakoon to initiate an immediate inquiry into the recent statements made by former President Maithripala Sirisena concerning the Easter Sunday bomb attacks.
On Friday (22), Sirisena asserted that he possesses knowledge regarding the true mastermind behind the 2019 Easter Sunday terror attacks and expressed readiness to disclose this information to the judiciary upon request or order.
Speaking to the media in Kandy, Sirisena underscored his willingness to reveal pertinent details while emphasising the judiciary’s responsibility to maintain strict confidentiality regarding such disclosures.
In parallel, Samagi Jana Balawegaya (SJB) Parliamentarian Kavinda Jayawardena filed a complaint with the Criminal Investigation Department (CID) today (23), urging for a swift investigation into the former President’s contentious statements.
These remarks have ignited controversy within the political sphere, casting scrutiny on the former President for allegedly withholding vital information concerning the tragic bombings that resulted in the loss of over 270 lives.
These claims appear in the midst of ongoing dialogues surrounding an allegation previously made by the British ‘Channel 4’ citing what it claimed as evidence from a former top state official and a political escapee that a conspiracy to bring forth a certain presidential candidate was behind the genocide.
March 24, Colombo (LNW): President Ranil Wickremesinghe has initiated the extension of the deadline for the nine-member Commission of Inquiry, appointed to draft proposals for electoral reforms, to submit its final report.
The Commission, chaired by former Chief Justice Priyasad Dep, was established by the President in October of the preceding year via a special gazette notification.
Tasked with formulating recommendations to amend electoral laws to align with contemporary societal requirements, uphold principles of good governance, and fortify representative democracy, the Commission aims to rebuild trust and accountability by enhancing the legal framework governing the registration and operations of political parties.
Among its directives, the Commission is mandated to propose measures for augmenting the representation of women and youth, streamlining the electoral timeline from announcement to result declaration, exploring modern voting technologies, and facilitating voting for Sri Lankan expatriates.
Initially instructed to submit its recommendations by April 15, 2024, President Wickremesinghe has taken measures to extend the deadline by an additional two months.
Consequently, the Commission has been granted an extension until June 15 to furnish its final report.
March 24, Colombo (LNW): The Central Bank of Sri Lanka (CBSL) released a statement on Saturday (23) addressing the recent discussions surrounding a salary revision for its senior management and professionals, which has garnered public attention and sparked controversy.
According to the statement, the salary adjustment for the period 2024-2026 was the outcome of a collective agreement reached between the CBSL Governing Board and employee representatives.
This decision, made independently prior to any recommendations from the Committee on Public Finance (COPF), was communicated to the COPF on March 16, 2024.
In response to the situation, the Chairman of the COPF has advised that an independent committee review the collective agreement to increase salaries for CBSL staff, proposing revisions across all employee categories within the institution.
Emphasising its autonomous role as the apex financial institution in Sri Lanka, the CBSL operates under the powers vested in it, first established under the Monetary Law Act, No. 58 of 1949 and now governed by the CBSL Act, No. 16 of 2023.
Furthermore, the CBSL underscores its responsibility in achieving and maintaining domestic price stability and ensuring the stability of the country’s financial system.
To fulfill this crucial national mandate, the CBSL relies on its experienced and professional staff.
The recent salary adjustment was aimed at retaining this experienced workforce to enable the institution to operate effectively and fulfill its responsibilities to the nation.
March 24, Colombo (LNW): Today marks the 75th birthday of President Ranil Wickramasinghe, a figure whose recent contributions to Sri Lanka’s political landscape have been both pivotal and scrutinised.
Reflecting on the events of the past two years, Sri Lanka found itself embroiled in a multifaceted crisis by March 2022. The populace grappled with extensive fuel and gas shortages, incessant power outages, and a rapid escalation in commodity prices, fostering an environment of economic turmoil and political unrest.
In the midst of this upheaval, Ranil Wickramasinghe, having endured a resounding defeat in the 2020 general election and subsequent months of relative seclusion, emerged as a central figure in the nation’s political theatre.
Assuming the roles of Prime Minister, Acting President, and Executive President during a period of intense flux, Wickramasinghe faced the daunting task of navigating Sri Lanka through the turbulent waters of economic strife and political volatility.
In the words of former President Ranasinghe Premadasa, Wickramasinghe wielded a “double-edged sword,” confronting the twin challenges of economic downturn and political instability, each exacerbating the other’s effects. Urgent action was imperative to prevent the conflagration of public discontent from engulfing the nation entirely, threatening the fabric of its democratic governance.
While the resolution of Sri Lanka’s economic woes remains an ongoing endeavour, Wickramasinghe’s adept handling of the immediate need for political stability stands as a testament to his leadership acumen.
His tenure between his 73rd and 75th birthdays serves as a poignant reminder of the delicate balance required to navigate crisis-ridden waters, where not every decision is met with universal acclaim, yet decisive action remains paramount.
As Sri Lanka stands at another critical juncture, with impending elections shaping the nation’s future trajectory, Wickramasinghe’s role in shaping the country’s destiny hangs in the balance.
Whether he chooses to embrace a more active role in the coming months or assumes a different position remains to be seen, a decision that will not only be inscribed in the annals of history but also shape the course of Sri Lanka’s political landscape.
On this milestone occasion, we extend our heartfelt congratulations to Mr. Ranil Wickramasinghe, acknowledging his enduring dedication to public service and wishing him a happy 75th birthday.
March 24, Colombo (LNW): Several spells of showers will occur in Eastern and Uva provinces, with showers or thundershowers being expected at several places in Western, Sabaragamuwa, Southern, Central and North-Western provinces during the afternoon or night, the Department of Meteorology said in its daily weather forecast today (24).
Fairly heavy showers above75mm are likely at some places in Rathnapura, Kalutara, Galle and Matara districts, the statement added.
Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces and in Galle and Matara districts during the morning.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from Trincomalee to Hambantota via Batticaloa. Showers or thundershowers may occur at several places in the other sea areas around the island during the afternoon or night.
Winds:
Winds will be easterly or variable in direction 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 Puttalam to Kankasanthurai via Mannar and from Galle to Hambantota via Matara.
State of Sea:
The sea areas off the coasts extending from Puttalam to Kankasanthurai via Mannar and from Galle to Hambantota via Matara can be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
Meanwhile, heat index, the temperature felt on human body is expected to increase up to ‘Caution level’ at some places in Western, North-western, North-central provinces and Mannar, Vavuniya and Trincomalee districts, the Department’s Natural Hazards Early Warning Centre said.
The public is urged to stay hydrated and takes breaks in the shade as often as possible, check up on the elderly and the sick, never leave children unattended, limit strenuous outdoor activities, find shade and stay hydrated, and wear lightweight and white or light-coloured clothing.
March 23, Colombo (LNW): FitsAir, Sri Lanka’s low-cost airline, yesterday announced the launch of direct flights connecting Colombo and Dhaka, Bangladesh in April 2024.
It said the move represents a significant milestone in regional aviation, addressing the growing demand for affordable travel options between Sri Lanka and Bangladesh.
In light of Bangladesh’s rapidly expanding economy, attracting considerable interest from Sri Lankan businesses, Dhaka is emerging as a popular destination. Recognising this trend, FitsAir is committed to providing affordable, on-time, and efficient air connectivity to cater to the needs of this growing market.
FitsAir Executive Director Ammar Kassim said: “The Bangladesh economy is one of the fastest growing in the world, and we’re excited to offer competitive prices for business travellers and visitors alike. We anticipate our non-stop service to Dhaka will stimulate bilateral trade and economic growth.”
The newly added route will initially operate twice weekly, with an anticipated increased frequency in the summer, subject to government approval. FitsAir’s carefully crafted flight schedule allows for immediate connections to Male, Chennai, and Dubai from Dhaka. Additionally, exclusive benefits will be offered to corporate travellers to effectively meet their needs.
Scheduled to commence from 16 April 2024, FitsAir will offer attractive launch fares starting at Rs. 74,600. In addition to the new Dhaka route, FitsAir currently operates direct services to Dubai, Male, and Chennai from its hub in Colombo.
Turkish Airlines announced plans to ramp up its flight frequency from Istanbul to Colombo from four to five flights a week beginning 1 April and six flights per week commencing 14 May.
The additional service will offer passengers more flexibility in travel options, serving rising market demand and enhancing connectivity to and from Colombo via Istanbul.
In a statement, Turkish Airlines revealed the expansion of its services, noting that from 26 October, the flight frequency will escalate to seven flights per week — right on time to cater to the winter tourism season.
The expansion will enhance tourism, trade, and cultural exchanges between the two countries.
After a period of 11 years of service to Sri Lanka, Turkish Airlines has ushered in a new era by inaugurating direct flights from Istanbul to Colombo in October 2023. Previously, the airline had a stopover in Male before arriving in Colombo.
March 23, Colombo, LNW: Colombo Municipal Commissioner, Mrs. Bhadranie Jayawardhana, revealed that approximately 150 hazardous constructions have been pinpointed within Colombo city.
These structures have been documented, and the owners have been duly notified to initiate their immediate removal.
