June 25, Colombo (LNW): The Cabinet has granted approval for the signing of debt restructuring agreements with the relevant parties, Minister Bandula Gunawardena confirmed.
President Ranil Wickremesinghe briefed the Cabinet during its meeting on Monday evening.
The approval permits the relevant authorities to formalise agreements with bilateral creditors, Cabinet spokesman Minister Bandula Gunawardane told Daily Mirror
Following this, the President is expected to present the details of these agreements to Parliament.
June 25, Colombo (LNW): Numerous private medical institutions in Sri Lanka, including hospitals, medical centres (channel centres), and laboratories, are currently operating without the necessary annual licences issued by the Ministry of Health for 2024, reports indicate.
Establishing a private medical institution in Sri Lanka necessitates obtaining a licence from the Ministry of Health, which must be renewed annually.
This process is overseen by the Private Health Services Regulatory Council, chaired by the Director General of Health Services. The council comprises 28 members who regulate private medical services across the country.
Each year, by September, private medical institutions are required to submit a form for licence renewal for the upcoming year. This form, accompanied by the requisite fees, must be handed over to the Ministry of Health.
Following this submission, regional health directors conduct inspections to ensure that the institutions meet the necessary standards. Upon satisfactory inspection, the licences are then issued.
However, despite completing all preliminary work for the 2024 licences, the Ministry of Health has yet to issue them, even though more than half of the year has already passed, LNW learned.
This delay proposes the scenario of which major private hospitals and other medical service providers are currently operating without the 2024 licences.
Whilst the public continues to receive services from these institutions, which maintain proper standards, the failure to issue the licences reflects a lapse in accountability to the Ministry of Health.
An investigation into the delay has revealed that an internal crisis within the Private Medical Services Regulatory Council is a significant contributing factor.
Private medical institutions have reportedly inquired about the delay in issuing the licences, but they have only received vague explanations citing various reasons.
The situation not only threatens the integrity of private medical services in Sri Lanka, but further fuels the recent backlashes faced by the island nation’s Health Sector devaluing its global recognition for excellent service provision.
24th June 2024: Four members of the richest family in Britain, Prakash Hinduja, his wife Kamal Hinduja, their son Ajay Hinduja and his wife Namrata Hinduja have all been sentenced to imprisonment by a Swiss court for exploiting Indian migrant servants whom they made to work for up t 18 hours a day for less than Rs 700 (£7) per day.
The hourly rate in Switzerland is 32chf which is Rs 2800 (£28).
They paid them in Indian rupees rather than the local currency.
Confiscated their passports and didn’t allow them to go out. This rich family spent more money looking after their dogs than their servants.
Prakash Hinduja and his wife are in their mid to late 70’s. They have both received 4 and a Half years jail terms while the son Ajay and his wife Namrata have got 4 years jail term each.
The criminal justice system in Switzerland worked even though the family did an out of court settlement with the servants in the civil court.
Criminal charges were still brought against them and they were tried, convicted and punished.
June 25, Colombo (LNW): Sri Lankan officials and international investors are set to engage in a second round of direct negotiations this week to finalise the restructuring of $12 billion in defaulted bonds, Bloomberg reported, citing sources familiar with the situation.
A steering committee of bondholders will continue discussions on the government’s revised proposal during these talks.
The bondholders have gone “restricted,” meaning their conversations with the government are subject to temporary trading restrictions due to the potentially market-sensitive nature of the discussions, one source noted.
Representatives from both the bondholders and the government were not immediately available for comment.
Swift resolution of this matter is crucial as the country is set to hold presidential elections in mid-October.
In February, Sri Lanka presented a proposal to holders of dollar bonds as part of its strategy to restructure $27 billion of foreign debt, encompassing bonds and loans.
This restructuring is essential to maintain the flow of financing from the IMF bailout.
Last week, strategists at Barclays indicated that the restructuring process is progressing and is likely to be completed in the coming months, suggesting that the bonds present value.
Sri Lanka must secure agreements with both bondholders and bilateral lenders to continue receiving IMF disbursements under a $3 billion programme.
Bloomberg reported earlier this month that the government and a group of creditors, including India and the Paris Club, were in advanced discussions regarding an agreement.
June 25, Colombo (LNW): The World Bank’s Board of Executive Directors has sanctioned $150 million in financing aimed at enhancing the quality and utilisation of primary healthcare services in Sri Lanka.
The newly approved Sri Lanka Primary Healthcare System Enhancing Project seeks to improve the quality of care and increase the usage of primary medical care institutions, which are crucial for delivering essential health services to local communities.
Sri Lanka faces challenges in its healthcare system due to capacity issues and the lack of a formal referral mechanism, resulting in the underutilisation of primary healthcare facilities and overcrowding in tertiary care institutions.
The previous World Bank-supported Primary Healthcare Systems Strengthening Project made significant strides by equipping 550 Primary Medical Care Institutions with necessary equipment, medicines, healthcare personnel, and basic laboratory testing facilities.
Building on these achievements, the new project aims to scale up efforts to encompass all Primary Medical Care Institutions across Sri Lanka’s districts, expanding to over 1,000 facilities.
These institutions will offer a more comprehensive service package and improved quality of care.
Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, stated, “Sri Lanka’s health system has shown remarkable performance, but it must be fortified to tackle emerging healthcare challenges.
This project will support the country’s forward-looking primary care reorganisation agenda, establishing the foundation for a more responsive and people-centric healthcare system.”
Non-communicable diseases, including hypertension, diabetes, and cervical cancer, are the leading causes of mortality and morbidity in Sri Lanka, accounting for 80% of deaths.
Effective management of these conditions requires robust screening, early diagnosis, treatment, and follow-up.
Additionally, Sri Lanka’s rapidly ageing population necessitates adaptations in the health system to address the increasing healthcare needs of the elderly.
This project is designed to meet these evolving health priorities, investing in preventive care and promoting primary care facilities as the initial point of care.
The project will also expand comprehensive primary healthcare services by enhancing capacity to cover mental health, palliative care, geriatric care, rehabilitative services, and emergency care, which are particularly vital for the ageing population.
Furthermore, the project will enhance pandemic preparedness by increasing the capacity of primary medical care institutions to detect and respond to future infectious disease outbreaks, ensuring that Sri Lanka’s healthcare system can effectively adapt to new and emerging challenges, according to the World Bank.
June 25, Colombo (LNW): The Biogas, Biomass, and Solar South-South and Trilateral Cooperation Project’s Strategic Steering Committee convened in Colombo, Sri Lanka, from 12-14 June.
The meeting, attended by 30 key stakeholders, focused on reviewing the project’s achievements and outcomes, and included an independent evaluation to derive lessons learned and provide sustainability recommendations.
Attendees also participated in site visits to Wennappuwa, Kurunegala, and Trincomalee. This project, a collaboration between the governments of China, Ethiopia, and Sri Lanka, and implemented by the United Nations Development Programme (UNDP), aims to enhance access to clean and renewable energy in Ethiopia and Sri Lanka.
It facilitates mutual exchanges of expertise and technologies among the participating countries.
This initiative involves multiple entities, including the Ministry of Commerce of the People’s Republic of China (MOFCOM), the Ministry of Science and Technology of China (MOST), the Ministry of Water and Energy of Ethiopia (MoWE), the Sri Lanka Sustainable Energy Authority (SLSEA), the Administrative Center for China’s Agenda 21 (ACCA21), and China Agricultural University (CAU).
Coordination is managed by UNDP China, with implementation by UNDP Ethiopia and UNDP Sri Lanka.
Operating under the South-South and Trilateral Cooperation framework, UNDP Sri Lanka has overseen the Biogas, Biomass, and Solar Trilateral Cooperation (TSSC) Project from 2019-2024.
The project spans five provinces and includes the deployment of 262 Solar Powered Renewable Energy Technology (RETs) applications.
These technologies, such as solar PV systems, solar-powered greenhouses, cold rooms, solar-powered aerators for shrimp farms, solar-powered sprayers, solar animal repellers, and solar insect traps, benefit over 233 individuals, including 80 women and 200 vulnerable groups.
Significant project outcomes include developing an Energy Data Management System (EDMS) for monitoring energy savings, supported by SLSEA, distributing IT equipment across five provinces for data collection and updating the EDMS, and creating Provincial Energy Plans for the agriculture sector in the Eastern, North-Western, Northern, Southern, and Uva provinces.
During the summary workshop, Ms. Azusa Kubota, Resident Representative of UNDP Sri Lanka, remarked on the project’s impact, highlighting its role in advancing innovative development solutions and transformative change towards net-zero development pathways.
She noted that the project supports Sri Lanka’s national greenhouse gas emission reduction targets and aids vulnerable farming communities in achieving sustainable incomes through renewable energy technology transfers.
Dr. Sulakshana Jayawardena, Secretary of the Ministry of Power & Energy, underscored the importance of South-South cooperation for national development.
He acknowledged the pilot project’s success in fostering mutual understanding and sharing renewable energy technology expertise between China and Sri Lanka. Dr. Jayawardena expressed optimism about expanding such cooperative efforts to support Sri Lanka’s accelerated energy transition towards carbon neutrality.
Mr. Chen Qizhen, Deputy Director General of ACCA21, praised the project’s collaborative efforts in sharing renewable energy technologies and experiences.
He emphasised the project’s role in addressing energy poverty and promoting green, low-carbon development through innovative solutions like solar, biogas, and biomass energy, alongside technical training and project demonstration sites.
Ms. Charu Bist, Deputy Resident Representative of UNDP Ethiopia, highlighted the project’s impact on Ethiopia, noting the country’s significant electricity access deficits.
She stressed that improving energy access not only promotes social equality and health but also enhances access to essential services, education, and information.
Ms. Beate Trankmann, Resident Representative of UNDP China, commented on the broader implications of the project amid stalled global progress towards Sustainable Development Goals (SDGs).
She emphasised the critical role of partnerships like this in addressing climate action challenges and providing clean, renewable energy access to vulnerable communities in Sri Lanka and Ethiopia, thereby supporting sustainable growth and improved livelihoods.
South-South cooperation exemplifies solidarity among countries of the South, contributing to national well-being, self-reliance, and the achievement of internationally agreed development goals, including the 2030 Agenda for Sustainable Development.
The engagement of UNDP in Trilateral Cooperation enhances the value of these efforts.
June 25, Colombo (LNW): Tourism Minister Harin Fernando has advocated for the issuance of free visas to tourists from more countries to compete with regional rivals and achieve the nation’s goal of 2.3 million tourist arrivals this year.
At a press conference yesterday, Fernando announced that a special committee’s report on the proposal to grant free visas to tourists from 67 countries will be presented to the Cabinet within the next two weeks.
The Minister highlighted several government initiatives aimed at increasing tourist inflow.
“The Cabinet has appointed a special committee to review the proposal for issuing free visas to tourists from 67 countries. The report from this committee will be submitted to the Cabinet either this week or next,” he said.
“Our competitors—such as the Maldives, Thailand, Cambodia, Malaysia, and Singapore—offer free visa facilities. We have noticed a substantial increase in requests for six-month, multiple-entry visas, as well as for one, two, and five-year visas. To remain competitive as a tourist destination, we must also ease the regulations for single-entry visas.”
Minister Fernando also revealed plans for a global tourism promotion campaign set to launch this week, featuring five distinct campaigns targeting China, Europe, Australia, Japan, India, and Eastern Europe.
“The procurement process is complete, and we are finalising contracts with our partners. This campaign aims to attract a record number of tourists for the winter season, starting in November,” he added.
Additionally, a marine tourism promotion campaign is scheduled to launch by August, focusing on establishing Trincomalee and Arugam Bay as premier marine tourist destinations.
Minister Fernando noted that 33% of tourists visiting Sri Lanka are repeat visitors, which is why the government is promoting the tagline “Sri Lanka – You Come Back for More.”
Sri Lanka has already welcomed over 980,000 tourists in the first half of 2024. According to the latest report from the Sri Lanka Tourism Development Authority, 84,383 tourists arrived in the country between June 1 and June 23, 2024.
June 25, Colombo (LNW): Showers will occur at times in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara Eliya, Galle and Matara districts, with heavy showers about 100mm being likely to occur at some places in Western and Sabaragamuwa provincesand in Kandy and Nuwara Eliya districts, the Department of Meteorology said in its daily weather forecast today (25).
Several spells of showers may occur in Matale district.
Strong winds of about (40-50) kmph can be expected at times over the Western slopes of the central hills, Northern, North-central and North-western provincesand in Trincomalee, Hambantota and Monaragala districts.
Marine Weather:
Condition of Rain:
Showers will occur at several places in the sea areas off the coast extending from Puttalam to Hambantota via Colombo and Galle.
Winds:
Winds will be south-westerly and wind speed will be (35-45) kmph. Wind speed can increase up to (60-70) kmph at times in the sea areas off the coasts extending from Kankasanthurai to Puttalam via Mannar and from Hambantota to Pottuvil. Wind speed can increase up to (50-55) kmph at times in the sea areas off the coasts extending from Trincomalee to Kankasanthurai via Mallaitivu and Puttalam to Hambantota via Colombo and Galle.
State of Sea:
The sea areas off the coasts extending from Kankasanthurai to Puttalam via Mannar and from Hambantota to Pottuvil. can be very rough at times. The sea areas off the coasts extending from Trincomalee to Kankasanthurai via Mallaitivu and Puttalam to Hambantota via Colombo and Galle can be rough at times. Waves heights may increase (about 2.0–2.5 m) in the sea areas off the coast extending from Kalpitiya to Pottuvil via Colombo, Galle, and Hambantota (this is not for land area). Naval and fishing communities are requested to be attentive in this regard.
June 24, Colombo (LNW): Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe expressed optimism about Sri Lanka’s economic prospects for 2024, forecasting positive annual economic growth for the first time since the onset of the economic crisis.
Speaking on Ada Derana’s current affairs programme “At HydePark“, Weerasinghe emphasised the importance of sustaining the current trajectory of economic recovery.
He highlighted that Sri Lanka is nearing the completion of its debt restructuring programme and has made significant strides towards achieving short-term economic sustainability.
Looking ahead, the Governor stressed the necessity of aiming for an annual economic growth rate of between 4 per cent and 5 per cent in the coming years as part of the country’s long-term economic revitalisation strategy.
He underscored the importance of safeguarding the gains made in the short term through the restructuring programme.
June 24, Colombo (LNW): SriLankan Airlines will spread its wings across the Middle East region after acquiring more aircraft on lease this year to strengthen its fleet, its top official says.
Richard Nuttall, chief executive officer of SriLankan Airlines, said fleet modernisation plays an important role in the carrier’s turnaround as well as caters to growing passenger demand in the region.
He said the airline will strengthen its current fleet of 21 to 22 in July, with plans to add three more aircraft within the next three months to increase the tally to 25 aircraft this year.
“We are aiming to boost SriLankan Airlines fleet with more leased aircraft that will help increase frequency on existing routes as well as add two or three new routes.
The airline will place major orders for fleet replacement after its restructuring is completed under the International Monetary Funds (IMF) programme,” Nuttall told Khaleej Times during his recent visit to Dubai.
Nuttall was in Dubai to attend the International Air Transport Association’s 80th annual general meeting and World Air Transport Summit in Dubai. He joined SriLankan Airlines as the chief commercial officer in November 2021 and was promoted to the position of chief executive officer in April 2022.
Nuttall, an industry veteran, has a wealth of airline industry experience spanning three decades and five continents, having held multiple chief officer and board positions in aviation companies across the globe. He has previously worked for Saudiair.
Bahrain Air, Royal Jordanian, Kenyan Airways and Philippine Airlines, has an exceptional record of delivering performance improvement and driving sustainable growth.
“I’m confident of rosy outlook of SriLankan as it continues to make significant strides in the airline industry despite a challenging environment. We’ve been focusing on strategic initiatives to improve the airline’s operations, enhance customer experience, and expand its global reach with the addition of new aircraft this year,” Nuttall said.
The 57-year-old chief executive from Yorkshire, England, expertise includes airline turnarounds; restructuring; strategy development; mentoring; global leadership; revenue management; network planning; airline distribution and sales and digital strategy.
Nuttall said the privatisation of SriLankan is a part of the country’s IMF programme under which its balance sheet will be improved by restructuring the airline’s debt.
“The government is working on a comprehensive strategy to support the airline through debt restructuring and then find a suitable buyer. It is a time-taking process and I’m unable to give any time frame when it will be completed,” he said.
In reply to a question, he said the government has shortlisted three potential investors out of six candidates who submitted their expressions of interest in April.
“The government is now talking to three shortlisted companies and we’ll see what happens in coming months. One of the consortium involves Qatari [Not Qatar Airways] and Indian investors who are keen to buy a majority stake in SriLankan Airlines,” he said.
