Colombo (LNW): The Inland Revenue Department has released a list of goods and services slated for exemption from the Value Added Tax (VAT) starting January 1, 2024.
Notable items on the list encompass Wheat and Wheat Flour, Infant Milk Powder, Pharmaceutical Products, Drugs, and Crude Petroleum Oil.
Colombo (LNW): Bangladesh has contributed essential medicines valued at US $1 million to Sri Lanka in a significant humanitarian gesture.
The official handover transpired in a concise ceremony at the office of Health Minister Dr. Ramesh Pathirana, where Bangladesh High Commissioner Tareq Md Ariful Islam formally presented the consignment.
This substantial donation, comprising twenty-four critical medical items, was procured from Bangladesh’s state-owned pharmaceutical entity, the Essential Drugs Company Limited (EDCL), aligning precisely with the specific requirements articulated by the Sri Lankan government.
The ceremony saw the presence of key officials from the Sri Lankan Health Ministry, including Health Secretary Dr. Palitha Mahipala, Director General of Health Services Dr. Asela Gunawardena, DDG MSD Dr. Dharmaratne, Director (Diplomatic Affairs) Dr. Anver Hamdani, and Director MSD Dr. Dias.
Health Minister Ramesh Pathirana expressed gratitude, acknowledging the friendly gesture of the government and people of Bangladesh. He also lauded the Bangladesh High Commission for its pivotal role in fortifying bilateral relations, particularly within the vital health and pharmaceutical sectors.
High Commissioner Tareq Md Ariful Islam reciprocated by characterising the donation as a manifestation of Bangladesh’s dedication and goodwill toward Sri Lanka. He underscored the substantial potential for collaboration between the two nations in the pharmaceutical and health sectors.
This recent contribution follows Bangladesh’s earlier goodwill gesture in May 2022, where medical supplies amounting to US $2.3 million were provided. The governments of both countries are actively exploring avenues for a more robust collaboration, particularly in the procurement of pharmaceutical products from Bangladesh.
By: Isuru Parakrama
Colombo (LNW): A few showers will occur in Northern, Eastern and North-central provinces and in Matale district, with showers or thundershowers being expected at a few places in Western and Sabaragamuwa provinces and in Galle and Matara districts after 2.00 p.m, the Department of Meteorology said in its daily weather forecast today (22).
Misty conditions can be expected at some places in Western, Sabaragamuwa, Central and Southern provinces in the morning, the statement added.
The 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: |
| A few showers will occur in the sea areas off the coast extending from Puttalam to Pottuvil via Mannar, Kankasanthurai, Trincomalee and Batticaloa. |
| Winds: |
| Winds will be north-easterly and wind speed will be (20-30) kmph. Wind speed may increase up to (40-50) kmph in the sea areas off the coast extending from Colombo to Kankasanthurai via Puttalam and Mannar and from Galle to Hambantota via Matara. |
| State of Sea: |
| The sea areas off the coast extending from Colombo to Kankasanthurai via Puttalam and Mannar and from Galle to Hambantota via Matara can be fairly rough at times. The other sea areas around the island will be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers. |
Colombo (LNW): President Ranil Wickremesinghe convened a meeting with Members of Parliament representing the Tamil community from the North and East at the Presidential Secretariat in Colombo yesterday afternoon (21).
The discussions centred on crucial topics, such as ensuring land rights for residents in the Northern and Eastern Provinces, the effective implementation of laws related to resettlement and reconciliation, and addressing challenges faced by Sri Lankans in refugee camps in India, the President’s Media Division (PMD) said.
Furthermore, the meeting delved into various issues related to district development in the Northern and Eastern Provinces.
In attendance were MPs from the Northern and Eastern Provinces, including R. Sampanthan, S. Rasamanickam, G. Karunakaran, Mr. T. Kalai Arasan, and Kulasingham Dileepan.
Notable figures present at the meeting included Justice and Prison Reforms Minister Dr. Wijayadasa Rajapaksha, State Minister for Higher Education Dr. Suren Raghavan, President’s Secretary Mr. Saman Ekanayake, Prime Minister’s Secretary Mr. Anura Dissanayake, and Justice and Prison.
Colombo (LNW): The National Consumer Price Index (NCPI) registered a Year-on-Year (y-o-y) inflation rate of 2.8 per cent for November 2023, the Department of Census and Statistics (DCS) reported.
This reflects a notable increase from the October 2023 inflation rate of 1.0 per cent, marking a 1.8 per cent rise.
In terms of Food-Inflation, there was a shift from -5.2 per cent in October to -2.2 per cent in November 2023. Non-food inflation increased from 6.3 per cent in October to 7.1 per cent in November.
The overall NCPI for November 2023 stands at 206.0, representing a 2.4 index point increase or a 1.19 per cent rise compared to October 2023 (203.6). This translates to a Rs. 1231.49 increase in the expenditure value of the “market basket.”
Specifically, increases in index values were observed for items such as Vegetables (0.62 per cent), Rice (0.14 per cent), Sugar (0.09 per cent), Coconuts (0.06 per cent), Big onions (0.06 per cent), Green chilies (0.06 per cent), Red onions (0.05 per cent), Limes (0.03 per cent), Coconut oil (0.02 per cent), Potatoes (0.02 per cent), Mysore dhal (0.01 per cent), Tea dust/leaves (0.01 per cent), and Fresh fruits (0.01 per cent).
Conversely, decreases were noted for Fresh fish (0.19 per cent), Chicken (0.08 per cent), Dried fish (0.07 per cent), Eggs (0.07 per cent), Green gram (0.02 per cent), and Chili powder (0.01 per cent).
The uptick in the non-food group index values in November 2023, compared to the previous month, can be attributed to price increases in items under ‘Housing, Water, Electricity, Gas and Other fuels’ (Materials for Maintenance and Electricity bill) (0.53 per cent) and ‘Restaurants and Hotels’ (0.02 per cent).
On the other hand, decreases were reported in ‘Transport (Petrol)’ (0.08 per cent), ‘Alcoholic Beverages, Tobacco, and Narcotics’ (Beetle leaves) (0.02 per cent), and ‘Health’ (Spectacles) (0.02 per cent). Additionally, marginal price decreases were observed in ‘Clothing and Footwear’, ‘Furnishing, Household equipment, and Routine household maintenance’, ‘Recreation and Culture’, and ‘Miscellaneous Goods and Services’.
The report notes that the price indices for ‘Communication’ and ‘Education’ groups remained unchanged during the month.
Colombo (LNW): For a third consecutive day under the ‘Yukthiya’ (Justice) operation, the Sri Lanka Police conducted a 24-hour crackdown resulting in the seizure of a substantial quantity of narcotics and the arrest of 2,008 suspects.
Operation Yukthiya unfolded from 12:30 AM on Wednesday to 12:30 AM on Thursday (21). The confiscated contraband included a significant 2 kilograms and 400 grams of heroin, 1 kilogram and ice (Crystal Meth), 12 kilograms and 200 grams of cannabis, and an astonishing 73,833 cannabis plants.
In addition to these, the police apprehended smaller amounts of Hashish (12 grams), Mawa (5 kilograms and 200 grams), Ash (32 grams), Thul (844 grams), a narcotic substance identified as ‘Madana Modaka’ (4 kilograms and 100 grams), and another 17,054 prescription pills.
Out of the total arrests, 185 are currently under investigation based on detention orders. Notably, 228 individuals were already on the list of registered suspects by the Police Narcotics Bureau and the Special Bureau, highlighting the operation’s efficacy in targeting known offenders.
Asset investigations have been initiated against 33 suspects, and 209 individuals have been referred for rehabilitation programmes, underlining the comprehensive approach of the operation.
Colombo (LNW): In a momentous arrival, Indian Ambassador Santosh Jha landed in Sri Lanka on Wednesday, poised to lead the Indian High Commission with unwavering commitment.
The High Commission anticipates Ambassador Santosh Jha’s official assumption of duties as the esteemed High Commissioner of India to Sri Lanka today (21).
The culmination of this pivotal moment will transpire as Santosh Jha presents his credentials to President Ranil Wickremesinghe, solidifying his role as a key diplomatic representative between the two nations.
Colombo (LNW): The initial cohort of Sri Lankan workers for agricultural positions in Israel has arrived, marking the commencement of a bilateral agreement between the two nations.
Thirty individuals departed for Israel on Monday (Dec 18) under the established agreement, which aims to send a total of 10,000 Sri Lankans to Israel in the coming weeks.
Emphasising the transparency of the employment process, Minister of Labour and Foreign Employment, Manusha Nanayakkara, asserted that no payments are required for these job opportunities.
He cautioned that individuals found to have paid money for these positions would be repatriated.
Minister Nanayakkara underscored that both governments have mutually agreed on the repatriation process for those who may have made unauthorised payments to secure these job opportunities.
Colombo (LNW): The Sri Lankan Rupee (LKR) indicates fluctuation against the US Dollar today (21) in comparison to yesterday, as per the official exchange rates of the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has increased to Rs. 321.92 from Rs. 321.89, and the selling price has dropped to Rs. 331.49 from Rs. 331.70
The Sri Lankan Rupee, meanwhile, indicates appreciation against several other foreign currencies.
By: Staff Writer
Colombo (LNW): The Government yesterday expressed confidence in boosting gross official reserves to over $ 4 billion by end 2023 with the receipt of $ 780 million so far in December.
The country took various initiatives, including securing a swap facility from the People’s Bank of China equivalent to approximately $1.4 billion.
Additionally, Sri Lanka encouraged its expatriates to remit their funds through formal channels, actively promoting this practice, apart from encouraging tourism, another key source of the island nation’s forex income, which slid during Covid years.
The Finance Ministry said following the completion of the First Review under the 48-month Extended Fund Facility (EFF) of the International Monetary Fund (IMF), the Government received the second tranche under the EFF, amounting to $ 337 million on 14 December 2023.
Subsequently, multilateral development banks also disbursed the tranches earmarked under several program financing channels.
Accordingly, the Asian Development Bank (ADB) released a total of $ 200 million on 15 December 2023 for Financial Sector Stability and Reforms Program.
Further, the World Bank released the second tranche of $ 250 million under Sri Lanka Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO) on 20 December 2023.
The Finance Ministry said the Government has collectively received foreign exchange inflows of over $ 780 million during December 2023 and such inflows will further strengthen budget support and cushion Government’s gross financing needs in the period ahead.
“These notable inflows of foreign exchange to the Government will reinforce external buffers of the country. The gross official reserves are expected to surpass over $ 4 billion by the end of 2023, a level higher than anticipated earlier,” Finance Ministry said.
It said this significant foreign financing support by International Financial Institutions vouch for the satisfactory progress made by the Government of Sri Lanka on the implementation of the economic reform agenda.
“The Government remains committed to achieving sustainable economic recovery and ensuring public debt sustainability that will accrue benefits to the people in the period ahead,” the Finance Ministry added.
Authorities in Sri Lanka also encouraged migration and implemented measures over the past six months to boost both the outflow of people and the inflow of remittances.
Data from the Immigration Department reveals that in the first half of 2022, the government issued around 396,600 passports, surpassing the total issued in the entire 2021.
Also, Sri Lanka reduced the minimum age for women to work overseas to 21 and eliminated the requirement for female migrant domestic workers to submit a family background report.
