Colombo (LNW): Seven newly appointed Heads of Mission and Ambassador designates from Sri Lanka recently received a comprehensive orientation on port operations and activities from the Hambantota International Port (HIP).

Tissa Wickramasinghe, the Chief Operating Officer of the Hambantota International Port Group (HIPG), took the opportunity to brief the diplomats on the port’s significant advancements over the past five years.

Wickramasinghe expressed the importance of this interaction, emphasising that it provided a platform to showcase HIP’s achievements and future plans. The aim was to highlight the positive impact on the region’s development and the national economy, thereby presenting the port positively on the international stage.

He noted that such sessions are essential to dispel any potential misinformation about the port circulating internationally.

During the session, the diplomats actively participated, posing insightful questions that were addressed by the relevant port officials present. The briefing covered various aspects of HIP’s services, including port services, Integrated Logistics, Marine Services, Port-related Industries development, Bunkering, and the role of Hambantota International Port Services.

The diplomats were provided with an overview of integrated logistics, industrial parks, port-based industries, marine services, the energy hub, and the port’s key business areas. Additionally, the presentation highlighted the Standards, awards, and accolades that the port has achieved.

The corporate social responsibility initiatives undertaken by the port over the past five years were also discussed. These projects included the Hope Village Development project, a fully-fledged PCR Testing Laboratory, Tissapura Junior School Development project, a fact-finding project on Human-Elephant Conflict, the Human-Elephant Peace Fund, the Electric Fence project under the Human-Elephant Peace Fund, Beach clean-up programs, and the installation of Garbage Collection Bins. The port has invested over USD 1.1 Million in these projects.

The Heads of Mission and Ambassador designates assigned to embassies and high commissions in various countries, including Italy, Egypt, Singapore, Bangladesh, Belgium, the European Union, Cuba, and Nepal, were accompanied by Ms. E. A. S. Wijayanthi Edirisinghe, Director General of HRD, Research & Training at the Ministry of Foreign Affairs. The session proved to be a proactive exchange, fostering a deeper understanding of Hambantota International Port and its strategic role in regional and national development.

1. President Ranil Wickremesinghe announces in Parliament that both Presidential and Parliamentary Elections will be held next year.
   
2. Foreign Minister M U M Ali Sabry says no one would come into politics if those who had been found fault for lapses on their part in respect of “policy decisions” were dealt with in terms of criminal liability: reiterates the fallout should be solely political: adds that in the FR case involving the former Presidents and others, the ruling doesn’t say there had been any fraud or money robbed or that funds had been sent overseas and consequently measures should put in place to recover such money: also says the SC has only faulted the Respondents for a “failure to take timely action to avert the crisis”.
   
3. Supreme Court, in 7-Judge ruling holds that properties mortgaged to a bank not only by an actual borrower but also by a third-party for a loan granted to the actual borrower, can be sold at an auction to recover the unpaid loan & interest thereon: overturns a previous 4-judge Bench ruling.
   
4. Shippers Council Chairman Sean Van Dort says corruption & bribes facilitation in the local shipping industry is rampant and urgent steps are needed to stop it: also says this was almost zero during the Covid pandemic because there were no “face to face” transactions at that time.
   
5. Agriculture Minister Mahinda Amaraweera requests the Wildlife and Forestry Director General to grant permission to those engaged in the Kitul tapping industry to tap trees in the wildlife and forest conservation areas.
   
6. SJB “Economic Guru” Harsha de Silva dismisses Justice Minister Dr Wijeyadasa Rajapakshe’s claim that over USD 56bn had been “parked” overseas by exporters: also contradicts claims by rebel SLPP MPs Vasudeva Nanayakkara, Wimal Weerawansa & Gevindu Cumaratunga on the matter: the controversial Foreign Exchange Management Act which enabled the retention of such Forex abroad by exporters, was passed by the Yahapalanaya Govt in which Silva was a Minister, in 2016.
   
7. Fisheries Minister Douglas Devananda says the issue of poaching by Indian fishermen in the SL waters off the Northern Coast has become a significant concern for which a diplomatic approach must be taken to find a lasting solution.
8. SL Athletic team achieves remarkable success at the Asian Masters’ Athletic Championships in New Clark City, Philippines: secure a total of 84 medals (25 gold, 34 silver, & 25 bronze).
   
9. SL Women’s Cricket Captain Chamari Athapaththu signs up with “Northern Brave” for the 2023-24 Women’s Super Smash competition: presently, Athapaththu is playing in the WBBL for “Sydney Thunder” & is the 2nd-highest run-scorer in the tournament, with 451 runs from 12 innings at an average of 45.10 & a strike rate of 134.62.
   
10. ICC shifts the Under-19 World Cricket Cup which was to be staged in Colombo, to South Africa: cricket analysts say the 16-Nation tournament would have boosted cricketing infrastructure, allowed fans to have a first-hand experience of seeing the sport’s future stars, and enabled the SL players to play in home conditions.

Colombo (LNW): The Sectoral Oversight Committee (SOC) on International Relations convened in Parliament on the 21st, chaired by MP Akila Ellawala in lieu of MP Namal Rajapaksa, to discuss the roles and future plans of various departments within the Ministry of Foreign Affairs.

Officials from the Consular Affairs Division, the United Nations and Human Rights Division, and the National Oceanic Affairs Committee Secretariat, all operating under the Ministry of Foreign Affairs, were summoned to provide insights into their current activities and roles.

During the session, the Committee delved into the functions of these departments, with a particular focus on the ongoing conflict between Israel and Palestine in the Middle East.

Additionally, MP S. M. M. Muszhaaraff sought information on the relationship between the Kingdom of Saudi Arabia and Sri Lanka, and officials confirmed the existing ties between the two nations.

A notable concern raised by the Committee was the comparatively high prices of tourist accommodations, especially in hotels around Colombo. The Committee emphasised the need to address this issue to enhance Sri Lanka’s competitiveness in the tourism sector.

Youth representatives participating in the Sectoral Oversight Committee also brought attention to the unsanitary condition of Negombo beach, expressing concerns about the negative impact on tourism due to its current state.

Among the attendees at the Committee meeting were Members S. M. M. Muszhaaraff and Madhura Withanage. Officials representing various entities, including the Ministry of Foreign Affairs, Department of Immigration, Sri Lanka Export Development Board, Sri Lanka Investment Promotion Board, Sri Lanka Tourism Development Authority, and Sri Lanka Tourism Promotion Bureau, were also present to contribute to the discussions.

Colombo (LNW): State Minister of Finance Shehan Semasinghe announced that beneficiaries of the ‘Aswesuma’ welfare programme can collect their September instalments starting Thursday (23).

An amount of Rs. 8.571 billion has been released to banks for 1,377,000 Aswesuma beneficiary families.

The State Minister assured that instalments for October, November, and December will be disbursed before the end of the year, with new applications being accepted in December.

Additionally, arrears for the elderly, kidney patients, and disabled individuals have been settled, he confirmed.

Colombo (LNW): Showers or thundershowers will occur at several places in most provinces of the island after 01.00 p.m, and fairly heavy showers about 75 mm are likely at some places in Central, Sabaragamuwa, Uva, Southern and Western provinces, the Department of Meteorology said in its daily weather forecast today (23).

Showers may occur at some places in Western provinces and in Puttalam district during the morning too, the statement added.

The 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 Mannar to Hambantota via Colombo and Galle. Showers or thundershowers will occur at a few places in the other sea areas around the Island particularly during the afternoon or night.

Winds:

Winds will be North-easterly or variable in direction over the sea areas around the island. Wind speed will be (20-30) kmph.

State of Sea: 

The sea areas around the island will be slight.

Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

In a landmark address at the Sri Lanka Green Hydrogen Symposium 2023, President Ranil Wickremesinghe outlined a comprehensive vision for Sri Lanka’s role in addressing climate change, emphasizing sustainable practices and embracing cutting-edge green energy technologies.

President Wickremesinghe opened his speech by drawing attention to the alarming findings of the UNF emission report for 2023. Expressing concern over the potential 3-degree °C global temperature increase by the end of the century, he underscored the need for immediate global action, lamenting the unfulfilled emission reduction promises of developed nations. “It says by the end of this century we will be about 3 degrees °C higher. Just imagine what that is going to be. And the cuts which were promised by the developed nations have not taken place.

But even with that, we would come to 2.5-degrees °C. So then we have to come down to 1.5 degrees °C. That’s what our target is for 2030.”

Sri Lanka’s commitment to the cause was a focal point in the President’s discourse. He articulated two key objectives: advocating for the 1.5-degree °C target at COP28 and showcasing the nation’s commitment to contributing significantly, irrespective of its lower pollution levels compared to more industrialized countries.

The energy landscape took centre stage in President Wickremesinghe’s address. Citing the UN Secretary-General’s call for tripling renewable energy capacity by 2030, he positioned this as a pivotal opportunity for Sri Lanka to transform into a green energy exporter. The President specifically highlighted the vast potential of solar and wind power in the country’s expansive dry zones.

Using historical references, President Wickremesinghe proposed a bold shift, envisioning Sri Lanka as an energy exporter akin to ancient civilizations exporting grain. “Now we can become an exporter of energy. Let’s go for it. That is my idea,” he declared, underlining the nation’s potential in harnessing renewable resources.

Green hydrogen emerged as a key focus in the President’s vision, with Sri Lanka aspiring not only to achieve energy independence but also to become a regional hub for green hydrogen supply.

To realize these ambitious goals, the President announced plans for a new committee and an energy transition law, signalling a commitment to a holistic decision-making process regarding new energy projects. Acknowledging economic challenges, he stressed the importance of a thorough review to ensure sustained, long-term benefits.

President Wickremesinghe referenced the cancellation of the Norochcholai project in 2002. He pointed out that the decision was made due to economic considerations and the pursuit of a more modern version funded by the Japanese. However, he acknowledged that this decision faced opposition and Norochcholai now poses a challenge for the country, prompting a reassessment of its utility and future role.

The President also expressed dissatisfaction with the downgrading of sustainable energy in favour of other sources, such as wind power. He reflected on the consequences of mismanaging the energy portfolio, emphasizing the need for a holistic view and a re-evaluation of the long-term power generation plan.

In his concluding remarks, President Ranil Wickremesinghe reaffirmed Sri Lanka’s unwavering commitment to green energy and called upon experts to advise the government on the path forward. “We are committed to green energy and we are going ahead,” he declared, positioning Sri Lanka as a leader in sustainable and environmentally conscious policies.

In the meantime, “The Sri Lanka National Hydrogen Road Map” was presented by the Minister of Power & Energy Kanchana Wijesekara to President Ranil Wickremesinghe. This roadmap is a collaborative effort between the Petroleum Development Authority of Sri Lanka (PDASL) and Greenstat Hydrogen India, with the invaluable support of the United States Agency for International Development (USAID),

which charts a course for Sri Lanka’s energy landscape transformation.

Addressing the symposium, US Ambassador H.E. Julie J. Chung, Indian High Commissioner H.E. Gopal Baglay and the British High Commissioner H.E. Andrew Patrick commended on the actions taken by Sri Lanka and pledged their unwavering support for the country’s commitment to Green Hydrogen transformation.

The symposium, organized by Greenstat India in collaboration with PDASL and USAID, serves as a testament to Sri Lanka’s determination to spearhead the transition toward a sustainable and green future, reflecting a comprehensive and forward-thinking approach under President Ranil Wickremesinghe’s leadership.

This event was graced by notable personalities such as Mr. Sagala Ratnayaka; Senior Advisor to the President on National Security and the Chief of Staff, Mr. Sturle Pedersen; Chairman of Greenstat India, Mr. Surath Ovitigama: Chairman of PDASL and Official dignitaries of Greenstat India, USAID, stakeholders and other collaborators.

State Minister for Plantations, Enterprise Reforms and Finance, Mr. Ranjith Siyambalapitiya, has announced that a dedicated allocation of Rs. 10 billion has been reserved for potential future elections. This provision, while not explicitly outlined in the budget proposals, has been included in the estimates.

Furthermore, the State Minister has conveyed that the Executive Committee of the International Monetary Fund (IMF) is scheduled to deliberate on the release of the second instalment of the extended credit facility to Sri Lanka on December 6th.

State Minister for Plantations, Enterprise Reforms and Finance, Mr. Ranjith Siyambalapitiya, made these remarks during his participation in a press briefing held at the Presidential Media Centre (PMC) yesterday (21), under the theme ‘One Way to a Stable Country’.

Speaking further, State Minister Siyambalapitiya highlighted the challenges faced in formulating this year’s budget. He underscored that in 2023, the government’s revenue experienced a 16% decline from the targeted amount, a circumstance attributable to the prevailing negative economic conditions. Addressing the inherent limitations faced during the budget preparation, he acknowledged the constraints in pursuing objectives such as maintaining a robust primary account.

Moreover, in addressing the budget deficit, when expenditures surpassed income, resorting to borrowing became necessary. However, the forthcoming year presents a constrained borrowing environment, with limited space available. Previously, local borrowing was facilitated through various accessible means, but with the implementation of the new Central Bank Act, borrowing has been subject to restrictions. The government now has the authority to borrow only in response to sudden announcements by the Central Bank.

Despite accusations labelling this year’s budget as an election-oriented one, it is crucial to recognize the imperative of responding to the challenges faced by a society under considerable strain. In such a context, it becomes obligatory to address the needs of those significantly impacted by economic adversity.

We have allocated Rs. 10 billion for upcoming elections, although this provision was not formally presented in the budget proposals but has been factored into the estimates.

Furthermore, it is essential to recognize that no nation has advanced without a sustainable stream of tax and government revenues. When we assumed these responsibilities, the tax structure was predominantly comprised of 80% indirect taxes and 20% direct taxes. Over time, we have strategically reduced the indirect tax rate, bringing the direct tax rate closer to 30%.

Additionally, the State Financial Management Responsibilities Act No. 03 of 2003 mandates maintaining the budget deficit at 5%, a target that, in practice, has proven challenging. Over the last two decades, this target was achieved only in 2016 and 2017. Sustaining this requires a rigorous approach involving substantial expenditure reductions and revenue generation. Notably, public welfare expenditure, which stood at 65 billion, is projected to rise to 209 billion this year. Efforts are underway to implement practical reforms, including amendments to certain laws, to align legislation with operational realities. Activating dormant tax revenues is also a priority in our pursuit of fiscal sustainability.

Moreover, there is a potential to elevate the state income ratio from its current 8.3% to 10.1% by the end of this year, and following the implementation of the 2024 budget, this ratio could further rise to 12.3% by the close of that year. Regardless of the political party in power, sustaining a nation necessitates the continual growth of state revenue.

In a remarkably short period, we successfully alleviated the frustrations associated with the historical instability of the state. Concurrently, efforts are underway to enforce the Anti-Corruption Act, aligning with the commitments made under the agreement with the International Monetary Fund.

Furthermore, plans are in place to conclude the electronic tax information gathering program and the Revenue Administration Management Information System 2.0 (RAMIS 2.0) project by the year’s end. The upcoming weeks are deemed pivotal for Sri Lanka’s economic trajectory. On December 6, the Executive Committee of the International Monetary Fund is set to convene and deliberate on the release of the second instalment of the extended credit facility. Furthermore, discussions and finalization of the proposal for the restructuring of bilateral debt are scheduled.