September 25, Colombo (LNW): President Anura Kumara Dissanayake held an important discussion with the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, and the Secretary to the Ministry of Finance, Mahinda Siriwardene, to address the country’s ongoing economic challenges.
The meeting, which took place last evening (24) at the Presidential Secretariat, focused on the current economic situation and explored measures to stabilize the economy. According to the Department of Government Information, the discussion covered a range of critical issues impacting the nation’s economic health.
The President, CBSL Governor, and Finance Secretary deliberated on potential strategies to support economic recovery, demonstrating the administration’s commitment to finding solutions to the financial difficulties facing Sri Lanka.
September 25, Colombo (LNW): Indian External Affairs Minister (EAM) S. Jaishankar extended his congratulations to Vijitha Herath on his recent appointment as Sri Lanka’s new Foreign Minister. In a post on X, Jaishankar reaffirmed India’s commitment to strengthening the deep-rooted civilizational ties and close bonds of friendship between the two nations.
Jaishankar stated, “Congratulate Vijitha Herath on his appointment as Foreign Minister of Sri Lanka. Committed to reinforcing our civilizational ties, strengthening our traditionally close bonds of friendship, and expanding our multifaceted cooperation for the benefit of both our peoples.”
Herath’s appointment came as part of President Anura Kumara Dissanayake’s new government formation. On Tuesday, Dissanayake also appointed Harini Amarasuriya as Sri Lanka’s 16th Prime Minister. Amarasuriya, an academic and social justice advocate, is a key figure in the National People’s Power (NPP) party and becomes the third woman in Sri Lanka’s history to hold the office of Prime Minister, following Sirimavo Bandaranaike and Chandrika Bandaranaike Kumaratunga.
Harini Amarasuriya entered Parliament in 2020 through the NPP national list and has been a prominent voice for educational reform and human rights. Her appointment is seen as a significant milestone in Sri Lankan politics, signaling a new direction under President Dissanayake’s leadership.
President Anura Kumara Dissanayake is set to deliver a special address to the nation tonight at 7:30 PM, where he is expected to outline his administration’s future plans and key initiatives.
The address comes following significant political developments, including the appointment of Dr. Harini Amarasuriya as the new Prime Minister yesterday.
The President also announced the formation of a streamlined Cabinet, comprising 15 ministries under the leadership of three ministers. This new structure reflects the administration’s commitment to efficient governance and targeted policy implementation.
The nation eagerly awaits President Dissanayake’s address, which is expected to set the tone for his government’s future direction.
President Anura Kumara Dissanayake is expected to make a special statement while addressing the nation at 7.30 pm today (25 September), according to the Department of Government Information.
Opposition Leader Sajith Premadasa says that he was unanimously chosen as the Prime Ministerial candidate of the ‘Samagi Jana Sandhanaya’ for the upcoming General Election. Furthermore, he stated that there would be no collaboration between former President Ranil Wickremesinghe and him.
The Extraordinary Gazette notification issued by President Anura Kumara Dissanayake dissolving the Parliament of Sri Lanka effective from midnight yesterday (24), has been published by the Department of Government Printing. The proclamation dissolves Parliament with effect from midnight today and summons the new Parliament to meet on the November 21, 2024. It has also fixed November 14, 2024 as the date for the election of the new Members of Parliament.
New President Anura Kumara Dissanayake held a high-level meeting today with Central Bank Governor Nandalal Weerasinghe and Treasury Secretary Mahinda Siriwardana to discuss pressing economic matters.
The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has increased by 237.31 points to close at 11,334.12.The market turnover was recorded at Rs. 2 billion.
Sri Lanka’s new three-member Cabinet of Ministers was sworn-in before President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo. Dr. Harini Amarasuriya was sworn-in as the Minister of Justice, Education, Labour, Industries, Science and Tech, Health and Food Security, shortly after taking oath as the new Prime Minister.
The Election Commission has confirmed that 35 presidential candidates will lose their security deposits. According to Commissioner General of Elections Saman Sri Ratnayake, this decision is due to the candidates not achieving the minimum requirement of 12.5% of the vote in the recently concluded presidential election.
Sri Lanka’s Ambassador to Israel has requested Sri Lankan nationals residing in Israel to exercise caution due to recent shelling and rocket attacks from Lebanon-based militant group Hezbollah targeting Israel.
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to 1.1% in August 2024, compared to 2.5% in July 2024, according to the latest data released by the Department of Census and Statistics. Meanwhile, food inflation has decreased to 2.3% in August 2024 compared to 2.9% in July 2024 and the Year-on-Year inflation of the non-food group increased to 0.2% in August 2024 from 2.2% in July 2024.
Nishan Pieris has been added to the Sri Lanka squad for the second Test against New Zealand as a replacement for left-arm paceman Vishwa Fernando, who developed an injury as stated by the Sri Lanka team Management.
September 25, Colombo (LNW): Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.
Showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts during the evening or night.
Strong winds about (40-45)kmph can be expected at times over the western slopes of the central hills and in Northern, North-central, North-western and Southern provinces and in Trincomalee, Matale and Monaragala districts.
The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
September 24, Colombo (LNW): An extraordinary gazette declaration signed by President Anura Kumara Dissanayake, authorising the dissolution of Parliament has been issued, paving the way for the holding of a General Election.
Accordingly, Parliament will be dissolved at midnight today (24).
The General Election is set to be held on November 14, 2024, and the acceptance of nominations will be undertaken from October 04 to 11, 2024.
September 24, Colombo (LNW): 15 new Secretaries have been appointed to head several key ministries in Sri Lanka, the President’s Media Division (PMD) announced.
The appointments include critical positions such as Secretary to the Prime Minister and Cabinet Secretary, marking a fresh phase of leadership in these ministries.
These appointments come at a time of substantial political and economic change in the country, with the new administration looking to instil a renewed sense of governance and efficiency.
Each of these roles is expected to carry a profound responsibility in implementing the government’s strategic objectives and managing the day-to-day operations of vital sectors.
The full list of appointments:
1. Mr. G.P. Saputhanthri – Secretary to the Prime Minister 2. Mr. W.M.D.J. Fernando – Cabinet Secretary 3. Mr. K.D.S. Ruwanchandra – Secretary to the Ministry of Transport, Highways, Ports, and Civil Aviation 4. Mr. K.M.M. Siriwardena – Secretary to the Ministry of Finance, Economic Development, Policy Formulation, Planning, and Tourism 5. Mrs. Aruni Wijewardena – Secretary to the Ministry of Foreign Affairs 6. Ms. J.M.T. Jayasundara – Secretary to the Ministry of Education, Science and Technology 7. Mr. K. Maheson – Secretary to the Ministry of Women, Children, Youth Affairs, and Sports 8. Mr. M.M. Naimuddin – Secretary to the Ministry of Trade, Commerce, Food Security, Cooperative Development, Industry, and Entrepreneurship Development 9. Mr. A.M.P.M.B. Atapattu – Secretary to the Ministry of Rural and Urban Development, Housing, and Construction 10. Dr. Palitha Gunaratne Mahipala – Secretary to the Ministry of Health 11. Mr. W.P.P. Yasaratne – Secretary to the Ministry of Justice, Public Administration, Home Affairs, Provincial Councils, Local Government, and Labour 12. Mr. B.K. Prabhath Chandrakeerthy – Secretary to the Ministry of Environment, Wildlife, Forest Resources, Water Supply, Plantation, and Community Infrastructure 13. Mr. M.P.N.M. Wickramasinghe – Secretary to the Ministry of Agriculture, Lands, Livestock, Irrigation, Fisheries, and Aquatic Resources 14. Mr. H.S.S. Thuiyakontha – Secretary to the Ministry of Defence 15. Mr. D.W.R.B. Seneviratne – Secretary to the Ministry of Public Security 16. Mr. Ranjith Ariyaratne – Secretary to the Ministry of Buddhasasana, Religious and Cultural Affairs, National Integration, Social Security and Mass Media 17. Professor K.T.M. Udayanga Hemapala – Secretary to the Ministry of Energy
September 24, Colombo (LNW): In a significant political development, Sri Lanka’s newly formed three-member Cabinet of Ministers was officially sworn in before President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo this (24) evening.
This move follows the election of Dissanayake as President, marking a shift in the political landscape.
Dr. Harini Amarasuriya, an academic and advocate for social justice, took her oath as Prime Minister, assuming an extensive set of ministerial portfolios. She will serve as Minister of Justice, Education, Labour, Industries, Science and Technology, Health, and Food Security, reflecting the government’s focus on a broad range of critical national issues. Amarasuriya’s role signifies an intention to introduce reforms in key areas, including education and labour, while also addressing pressing concerns such as food security and public health.
President Anura Kumara Dissanayake has chosen to personally retain control over several of the country’s most vital ministries, underscoring his direct involvement in shaping the nation’s future. He will oversee Defence, Finance, Economic Development, Policy Formulation, Planning, Tourism, Energy, Agriculture, and Natural Resources. His hands-on approach in these sectors signals his administration’s focus on security, financial stability, and agricultural reform, key areas that require immediate attention.
Prime Minister Dr. Harini Amarasuriya’s expanded ministerial responsibilities include Justice, Public Administration, Education, and Women’s and Youth Affairs. Her leadership will play a pivotal role in steering legislative reforms, enhancing educational infrastructure, and fostering technological development in Sri Lanka. Additionally, her oversight of labour and trade will likely focus on improving employment opportunities and industrial growth. Amarasuriya’s diverse portfolio underscores her administration’s commitment to a balanced approach in governance, addressing social welfare alongside economic development.
Vijitha Herath, another key figure in the Cabinet, will manage an array of portfolios including Buddhasasana, Religious Affairs, Transport, Foreign Affairs, and Environment. His leadership in foreign relations will be crucial in strengthening diplomatic ties, while his oversight of transport and civil aviation is expected to bring improvements to the country’s infrastructure. Additionally, his role in managing environmental and wildlife resources aligns with the government’s focus on sustainable development and conservation efforts.
The swearing-in ceremony was attended by other prominent political figures, including MP Lakshman Nipunaarachchi, as well as former MPs Sunil Handunnetti, Bimal Ratnayake, and Dr. Nalinda Jayatissa.
September 24, Colombo (LNW): Sri Lanka’s apparel industry has significantly advanced from traditional exports and tailoring to delivering comprehensive solutions, creativity, and expertise in areas such as BPO services, fashion, research and development, and innovation centers. This progress helps bridge the gap between the country’s developing and developed markets. Sri Lanka now boasts the highest per capita apparel exports among exporting countries in the region.
In August, the country’s apparel sector surpassed the US $3 billion earnings mark, recording a notable double-digit growth. Export revenues for the industry surged by approximately 22% year-on-year (YoY) for the month. The Sri Lankan apparel market is projected to generate an estimated US $1.70 billion in 2024, with a projected annual growth rate of 2.00% from 2024 to 2028.
According to provisional data from Sri Lanka Customs, the sector’s export earnings in August totaled US $485.62 million. All key markets showed positive growth. Exports to the United States rose by 22.9% YoY, reaching US $209.4 million, while exports to the European Union grew by 18.84% YoY to US $140.51 million. Exports to the United Kingdom and other regions increased by 17.74% and 30.91% YoY, bringing in US $62.39 million and US $73.32 million, respectively. With this strong August performance, the sector’s cumulative export earnings surpassed US $3 billion.
For the first eight months ending in August, the sector generated US $3.158 billion, reflecting a 2.41% YoY increase. Cumulative data show positive export trends across all markets except the European Union, where a marginal 1.16% decline was recorded. Exports to the United States, the United Kingdom, and other regions increased by 1.82%, 8.49%, and 5.36% YoY, amounting to US $1.26 billion, US $462 million, and US $513 million, respectively. Exports to the EU reached US $914 million.
In 2024, women’s apparel is expected to dominate the market with a volume of US $0.85 billion. On a global scale, the United States leads the apparel industry, projected to generate US $359 billion in 2024. In Sri Lanka, the apparel sector is expected to generate US $77.29 per capita in 2024. By 2028, the volume of Sri Lanka’s apparel market is forecasted to reach 250.9 million pieces, although a slight decline of 0.8% is anticipated in 2025. On average, each person in Sri Lanka is expected to contribute 11.8 pieces of apparel to the market in 2024, with 96% of total sales coming from non-luxury items. The country is also experiencing growing demand for sustainably and ethically produced clothing.
September 24, Colombo (LNW): A Stakeholder Consultation Meeting on the Earth Resources and Minerals Sector, held at the Institution of Engineers Sri Lanka, emphasized the country’s strategic focus on two key mineral resources—quartz and graphite—for 2024. The consultation highlighted a targeted approach for these minerals in 2024, with plans to address the development of other major minerals starting in 2025.
The primary objectives of the consultation were twofold: to increase foreign exchange income from mineral exports over the next five years, and to develop a comprehensive action plan for the mineral sector from 2025 to 2029. The meeting also reviewed the current state of value addition and explored opportunities for advanced technological applications to enhance the country’s mineral offerings.
The stakeholders agreed on a range of initiatives aimed at boosting the mineral sector. Chief among these was the establishment of a National Production Laboratory, equipped with state-of-the-art facilities for analytical solutions and high-tech product testing. The laboratory, with international accreditation, will cater to both local and international geology, minerals, metallurgical, and materials industries.
In a bid to boost foreign exchange revenue, the consultation set ambitious targets for increasing the export volumes of quartz and graphite. Current export earnings stand at USD 11.7 million and USD 7.8 million, respectively. By the end of the five-year period (2025-2029), the aim is to raise the export income for each mineral to USD 30 million.
The meeting also proposed easing restrictions on mineral exploitation, particularly for commonly available minerals like quartz. New regulations may allow individuals to exploit quartz on their own lands, fostering small-scale mining opportunities across the country.
From a chemical engineering perspective, stakeholders noted that secondary value addition through chemical processing is a capital-intensive and technologically advanced area. Sri Lanka currently lacks the infrastructure and technology for high-end processing, particularly for turning quartz into products like solar panels, fiber optic cables, and optical lenses. Attracting foreign investment and expertise for these advanced processes was seen as crucial for the sector’s future growth.
Graphite production was another key focus of the discussions. The current annual output of 2,500 metric tons is insufficient to attract large-scale foreign investment for high-tech industries, such as the production of carbon brushes for electric motors. The consultation proposed raising graphite production to 10,000 metric tons per year by 2029 to enhance investment appeal.
The stakeholder consultation laid the groundwork for a five-year plan to strengthen Sri Lanka’s mineral exports, with a focus on value addition and attracting foreign investment. While 2024 will see a concentration on quartz and graphite, the broader plan envisions a robust minerals sector driving economic growth and increasing the nation’s foreign exchange earnings in the years to come.
