October 11, Colombo (LNW): The All Ceylon Traditional Coconut Oil Producers’ Association (ACTCOPA) has issued a warning to the public, urging vigilance regarding the sale of toxic coconut oil being sold loose in the market. The association has advised consumers to purchase only branded coconut oil that includes a label clearly identifying the manufacturer.

Addressing a media conference in Colombo on Monday (7), ACTCOPA convenor Buddhika de Silva cautioned consumers about misleading statements concerning the quality of imported coconut oil. He criticized a senior Public Health Inspector for wrongly claiming that imported coconut oil is of high quality and thoroughly tested. Silva argued that this statement misleads the public, pointing out that imported coconut oil often lacks proper scientific testing and may contain harmful substances.

Silva highlighted that artificially refined, used coconut oil contains heavy metals and can contribute to the development of non-communicable diseases. He questioned how imported coconut oil could be deemed high quality without comprehensive scientific verification.

Thushara Wijesinghe and S.K.B. Jayaweera, both representing ACTCOPA, also participated in the media briefing. They echoed Silva’s concerns, calling for greater scrutiny and consumer awareness to avoid health risks posed by poor-quality coconut oil.

October 11, Colombo (LNW): Sri Lanka’s economy has stabilised, with growth projected to reach 4.4% in 2024, surpassing earlier forecasts, according to the World Bank’s bi-annual Sri Lanka Development Update report, titled Opening Up to the Future, released yesterday.

This optimistic outlook follows four consecutive quarters of economic growth, primarily driven by the industrial and tourism sectors, and supported by critical structural and policy reforms, the report highlighted. However, it cautioned that the recovery remains fragile, hinging on maintaining macroeconomic stability, successful debt restructuring, and continuing reforms to enhance medium-term growth and reduce poverty.

Key reforms aimed at boosting exports, attracting foreign investment, increasing female labour force participation, and improving productivity are essential for fostering more inclusive and sustainable growth. Addressing challenges such as poverty, food insecurity, and financial sector vulnerabilities are also critical.

The report emphasised Sri Lanka’s potential for higher, sustained growth through trade, with an estimated untapped export potential of US$10 billion annually. This expansion could generate around 142,500 new jobs, particularly in manufacturing, services, and agriculture, provided necessary reforms are undertaken.

“Sri Lanka’s recent economic stabilisation, marked by four quarters of growth and a current account surplus in 2023, is a significant milestone,” said David Sislen, World Bank Regional Country Director for Maldives, Nepal, and Sri Lanka. He added that the country now has a real opportunity to realise its export potential and deepen its integration into global value chains, fostering jobs and long-term growth.

Looking ahead, the report projects a modest 3.5% growth in 2025, followed by a more gradual path in the medium term due to lingering effects of the economic crisis. Poverty is expected to decline slowly but remain above 20% until 2026.

Inflation is likely to stay below the Central Bank’s target of 5% in 2024, with a gradual increase as demand picks up. The current account is expected to remain in surplus, driven by tourism and remittances.

The report is a companion piece to the South Asia Development Update, which projects the region’s growth at 6.4% for 2024, making it the fastest-growing emerging market and developing economy (EMDE) region in the world. Increasing women’s participation in the labour force and enhancing trade and investment are seen as key drivers for even faster growth and achieving the region’s development goals.

October 11, Colombo (LNW): The Postal Department issued a statement on Thursday (10) addressing false reports circulating regarding postage stamps featuring Prime Minister Dr. Harini Amarasuriya and Minister Vijitha Herath.

The clarification explained that the stamps were part of a set of personalized postage stamps presented as commemorative souvenirs to the Prime Minister and Minister Herath, who served as chief guest and special guest, respectively, at a ceremony celebrating the 150th anniversary of World Post Day on Wednesday.

The Postal Department emphasized that these stamps fall under the personalized stamp category, which is distinct from the official commemorative stamps marking the 150th anniversary of the Universal Postal Union and World Post Day 2024.

The department further clarified that it is a longstanding tradition to present personalized stamps as souvenirs during special events. Additionally, any Sri Lankan citizen is legally allowed to create personalized stamps through the Postal Department for a nominal fee using an image of their choice.

The department condemned the distortion and misrepresentation of the personalized stamps on social media, noting that they were inaccurately linked to the official World Post Day commemorative stamps.

October 11, Colombo (LNW): Sri Lanka and Pakistan explored opportunities for collaboration in the development of Sri Lanka’s livestock sector as a strategy to address rural poverty during a meeting between Pakistan’s High Commissioner to Sri Lanka, Maj. Gen. Faheem Ul Aziz, and President Anura Kumara Dissanayake at the Presidential Secretariat on October 10.

High Commissioner Aziz extended his congratulations on President Dissanayake’s recent election victory and conveyed Pakistan’s commitment to deepening bilateral relations. During the meeting, the High Commissioner delivered a letter of congratulations from Pakistan’s President Asif Ali Zardari, who highlighted the strong ties between the two nations, emphasizing shared values such as democracy, pluralism, and rule of law.

Discussions focused on expanding the political, security, and educational cooperation between the two countries. Notably, Pakistan pledged continued support in the defence sector and expressed interest in expanding its scholarship program for Sri Lankan students, particularly in the fields of agriculture and information technology.

The meeting highlighted the deepening relationship between the two countries and emphasized the importance of collaboration in livestock development to help alleviate rural poverty in Sri Lanka.

In this context Ambassador of Sri Lanka to Sweden Kapila Fonseka successfully concluded a two-day official visit to Gothenburg, the second largest city of Sweden, last week. The purpose of the visit was to engage with key stakeholders including Swedish Government officials and business leaders to strengthen economic and trade relations between Sri Lanka and Gothenburg, and to meet with the members of the Sri Lankan community in Sweden.

The Ambassador’s agenda included high-level meetings with the Västra Götaland County of Sweden Governor Sten Tolgfors, Gothenburg Lord Mayor Aslan Akbas, and Regional Parliament Chair Renee Bengtsson. During these meetings the Ambassador conveyed Sri Lanka’s strong commitment to enhance the already existing connections with the city of Gothenburg and the Västra Götaland, which is the second most populous county in Sweden. 

Ambassador Fonseka also attended two business roundtables with representatives from the “Business Region Gothenburg”, which is responsible for business development in the city of Gothenburg, Västsvenska Handelskammaren (The Chamber of Commerce in Gothenburg) as well as professionals from various industries including ICT, manufacturing, technology, travel industry etc. 

These discussions focused on exploring new opportunities for bilateral investment and collaboration, identifying new areas for economic cooperation, enhancing trade partnerships and joint ventures, and expanding market access for Sri Lankan businesses to the Swedish market. The two roundtables were organised by Sri Lanka Honorary Consulate in Gothenburg and the Sri Lanka Sweden Business Council, in collaboration with the Embassy of Sri Lanka in Stockholm. They wrapped up on a successful note, with several promising avenues identified for future cooperation.

Honorary Consul of Sri Lanka in Gothenburg Marcus Pettersson assisted and accompanied the Ambassador during the visit. Secretary General of the Sri Lanka Sweden Business Council Leif Ohlson was associated with the roundtable discussions.

During his visit, Ambassador Kapila Fonseka also met with the members of the Sri Lanka Association in Gothenburg and discussed strategies for enhancing cooperation between the Embassy of Sri Lanka in Stockholm and the Sri Lankan community in Gothenburg. Gothenburg is home to a large number of Sri Lankans. 

The Ambassador’s visit concluded with a meeting with the Vice Chancellor of the University of Gothenburg, Prof. Malin Broberg. The University of Gothenburg has a longstanding relationship with several institutions in Sri Lanka and hosts a number of Sri Lankan research students in a multitude of disciplines. 

This visit reaffirmed the seventy-five year-long strong ties between Sri Lanka and Sweden, and it is expected that the recent meetings will pave way for further collaborations in the near future. 

The city of Gothenburg, recognised as a key commercial hub in Sweden, plays a crucial role in the Sweden’s economic landscape. Strengthening ties with the business community in Gothenburg is important as a strategic priority for fostering long-term, sustainable economic partnerships with Sweden. The Embassy maintains close relations with the city of Gothenburg and Västra Götaland Region through the Sri Lanka Honorary Consulate in Gothenburg.

Amid the growing concerns about the dumping of chemically refined oil labelled as coconut oil in the local market, the government is urged to establish a transparent mechanism to differentiate chemically refined oil from natural coconut oil.

Sri Lanka’s economy is bouncing back faster than anticipated, according to the World Bank, which recently upgraded its growth forecast for the island nation to 4.4% for 2024, up from its previous estimate of 2.2% made in April. 

The surge in growth is largely attributed to the revival of tourism, financial services, and improvements in the construction sector. However, the country’s growth rate, although promising, still lags behind the projected 6.4% growth for the broader South Asia region.

The World Bank’s latest Sri Lanka Development Update, titled “Opening Up to the Future,” highlights that the country has seen four consecutive quarters of growth, primarily driven by its industrial and tourism sectors. 

This economic progress has been supported by structural reforms and policy adjustments aimed at stabilizing the economy. Despite this positive trajectory, the World Bank warns that the recovery remains fragile, with future growth heavily dependent on maintaining macroeconomic stability, restructuring debt, and implementing additional reforms.

Key areas of focus for Sri Lanka include boosting exports, attracting foreign investment, increasing female labor force participation, enhancing productivity, and tackling ongoing challenges like poverty, food insecurity, and vulnerabilities within the financial sector. 

The World Bank estimates that Sri Lanka has the potential to increase its export revenues by $10 billion annually, which could lead to the creation of approximately 142,500 new jobs if the necessary reforms are enacted.

David Sislen, the World Bank Regional Country Director for Maldives, Nepal, and Sri Lanka, emphasized that the recent economic stabilization presents a significant opportunity for the nation. 

He noted that Sri Lanka could deepen its engagement in global value chains and leverage its geographical advantages to generate jobs and sustain long-term growth. Sislen highlighted the importance of continued economic and governance reforms to unlock the country’s full export potential and benefit from the evolving global economic landscape.

Looking ahead, the World Bank projects that Sri Lanka’s growth will moderate to 3.5% in 2025 and slow further to 3.1% in 2026. This deceleration is partly due to the lingering effects of the recent economic crisis. 

Although poverty rates are expected to decline gradually, they are likely to remain above 20% until at least 2026. Inflation is forecasted to stay below the central bank’s target of 5% in 2024, but it may rise as economic demand increases. Meanwhile, the current account surplus, driven by tourism and remittances, is expected to continue in 2024.

 The World Bank’s report also ties Sri Lanka’s economic outlook to the broader regional context outlined in the South Asia Development Update. This regional analysis forecasts a growth rate of 6.4% for South Asia in 2024, making it the fastest-growing region among emerging markets and developing economies (EMDEs).

The report stresses that increasing women’s participation in the labor force and expanding global trade and investment opportunities are crucial for accelerating growth across the region.

Despite Sri Lanka’s progress, the World Bank’s cautionary tone underscores the need for sustained reforms and strategic investments to ensure long-term economic resilience. The country’s ability to navigate its current challenges will be critical in determining its future trajectory toward more inclusive and sustainable growth.

October 11, Colombo (LNW):Secretary to the President, Dr. Nandika Sanath Kumanayake, has issued a directive to all government institutions requiring them to seek written approval from the Presidential Secretariat before displaying photographs or messages of the President on commemorative plaques or in designated celebration areas for various events.

In this notice, the Secretary also underscored the necessity of aligning government-funded activities with state policies and the national vision during their organization. This communication has been formally conveyed to all Ministry Secretaries, Provincial Chief Secretaries, Department Heads, Chairpersons of Government Corporations, Statutory Board Heads, and Heads of Government-Owned Companies.

The move aims to ensure consistency in representation and adherence to government protocols across all public institutions.

October 11, Colombo (LNW): The National Police Commission has officially approved the reappointment of former Senior Superintendent of Police (SSP) Shani Abeysekera to the Police Service on a one-year contract, effective from yesterday (October 10).

Abeysekera, who retired from the police force three years ago, is anticipated to take on a significant role in leading a new assets recovery unit within the police department. This development comes amid ongoing efforts to enhance the efficiency and effectiveness of police operations in Sri Lanka.

His reappointment has sparked speculation about the direction of the unit and the potential impact of his leadership on asset recovery initiatives. Further details regarding the specific objectives and functions of the new unit are expected to be announced in the coming days.

October 11, Colombo (LNW): A Level-2 Landslide Early Warning has been issued for several areas in the districts of Colombo, Galle, Gampaha, Kegalle, and Kalutara due to the prevailing adverse weather conditions.

The National Building Research Organization (NBRO) has advised residents in these areas to remain alert and take necessary precautions. The warning is in effect for areas identified as high-risk, and residents are urged to be prepared for possible landslides and evacuate if necessary.

Those living on hilly terrain, near slopes, or in areas prone to landslides should be particularly cautious during this period. Authorities have requested people to keep an eye on any unusual ground movements, cracks in walls, or shifts in structures, which could signal the risk of a landslide.

The public is advised to stay tuned to updates from local authorities and take immediate action to safeguard lives and property.

1. Secretary to the President, Dr. Nandika Sanath Kumanayake, has directed all government institutions to obtain written approval from the Presidential Secretariat prior to displaying the President’s photographs or messages on commemorative plaques or in designated celebration areas for various events.
2. Sri Lanka’s economy has stabilized, with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts. This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, says the World Bank.
3. Sugath Wasantha De Silva, President of the Sri Lanka Council of Visually Handicapped Graduates, has been nominated by the National People’s Power (NPP) to their national list for the upcoming Parliamentary election. Social activist Sugath Wasantha De Silva supported President Anura Kumara Dissanayake in the last Presidential Election.
4. Former Central Bank Governor Ajith Nivard Cabraal and three other defendants were formally indicted in the presence of Colombo High Court Judge R.S.S. Sapuwida. The charges relate to the alleged purchase of Greek treasury bills in 2012, which resulted in a loss exceeding Rs. 1.84 billion to the Sri Lankan government during Greece’s severe economic crisis. During the court proceedings, defense attorneys argued that the defendants had fully cooperated with the investigations from the outset, and therefore, there was no need to remand them in custody.
5. Former Minister of State for Finance Shehan Semasinghe has announced that he will not be contesting in the upcoming parliamentary elections. Issuing a statement, Semasinghe reflected on the country’s economic challenges over the past year and his dedication to rebuilding the economy alongside former President Ranil Wickremesinghe, following the economic collapse.
6. The National Police Commission has approved the reappointment of former Senior Superintendent of Police (SSP) Shani Abeysekera in the Police Service on a contract basis for one year. Speculation has been rife that Abeysekara, who retired from the service 3 years ago, is expected to lead a new assets recovery unit of the police department.
7. The Colombo Fort Magistrate’s Court has imposed an overseas travel ban on former Member of Parliament Johnston Fernando. The travel ban has been imposed over allegations of possessing an illegally assembled luxury vehicle.
8. President Anura Kumara Dissanayake has advised relevant Ministry officials to allocate 11,000 acres of land belonging to the Kantale Sugar Company to farmers for the cultivation of short-term crops, the President’s Media Division (PMD) said.
9. Former Member of Parliament Patali Champika Ranawaka says that his party – the United Republic Front (URF) will not contest the 2024 Parliamentary Election.
10. The Department of Posts has issued a clarification regarding the recent release of stamps featuring Prime Minister Dr. Harini Amarasuriya and Minister Vijitha Herath. The statement also emphasized that the Postal Department offers the public the opportunity to create personalized stamps with their preferred images, a service traditionally provided as souvenirs for special occasions.