Colombo (LNW): Justice, Prison Affairs and Constitutional Reforms Minister Wijeyadasa Rajapakshe has revealed plans to introduce a new legislative framework aimed at overseeing the operations of microfinance institutions in the country.

Expressing serious concerns about the unregulated status of certain microfinance entities, the minister highlighted the need for decisive measures to address this issue.

He emphasised the intention to establish an independent regulatory institution, separate from the Central Bank, with a specific focus on overseeing and effectively regulating microfinance entities.

Rajapakshe shared these insights on Monday (04) during a press briefing at the President’s Media Centre (PMC), where the discussion centred around the theme of ‘Collective Path to a Stable Country.’

The Minister further commented that the Ministry of Justice presently oversees the operational responsibilities of 21 institutions, encompassing a diverse range of subjects, including law enforcement and law reform. With a caseload exceeding 1.1 million cases within the courts in the country, concerted efforts have been undertaken in recent times to mitigate delays in case adjudication. Substantial measures have been implemented to address the backlog and streamline the judicial process, with a particular focus on the establishment and operation of conciliation boards aimed at facilitating the expeditious resolution of select cases.

The Minister further stated that globally recognised expedited methods for resolving criminal cases stand in contrast to our nation’s outdate legal framework, resulting in prolonged durations for case resolutions. This delay in criminal proceedings represents a substantial issue, jeopardising the administration of justice and leaving all parties involved without timely recourse.

To address this challenge, a draft law aimed at expediting the resolution of criminal cases is currently under development and is slated for submission to Parliament in January. In advanced jurisdictions, there is a paradigm shift towards non-custodial measures for individuals involved in minor offenses. Recognising that incarceration, in many instances, is not the most suitable recourse, the new legal framework being proposed aims to explore alternatives. Notably, some individuals find themselves incarcerated due to societal oversights, and the proposed legislation acknowledges this by providing avenues for release on bail conditions. This approach aims to strike a balance between societal concerns and individual liberties, fostering a more nuanced and equitable criminal justice system.

The Office of Missing Persons currently manages a caseload of approximately 14,000 complaints. Upon assuming duties of this Ministry, only 62 complaints had undergone investigation. Presently, we have successfully concluded investigations for 4,795 complaints, reflecting a substantial improvement in case resolution. It is noteworthy that all outstanding complaints lodged with the Office of Missing Persons are slated for resolution by the coming year.

Furthermore, to fortify and enhance the efficiency of the judicial process, a comprehensive set of eight new bills is set to be submitted to Parliament.

Efforts are underway to establish a reconciliation society within each village, where government officials and politicians do not play a direct role. The activities of these societal initiatives, referred to as reconciliation societies, are guided by the preferences of elders and religious leaders within the respective villages. The responsibilities encompass the independent execution of tasks such as infrastructure development, including road construction and provision of electricity, rendering political involvement unnecessary.

The villagers take charge of organising religious festivals, sports events and cultural celebrations, fostering a sense of community ownership and participation. The overarching vision is to seamlessly integrate each Grama Seva Division into a unified network, operating independently from external interference. The reconciliation society is entrusted with safeguarding the welfare and interests of the village, thereby ensuring the preservation and well-being of the community.

Presently, widespread discourse revolves around the state of the country’s economy, which has been adversely affected by various factors. The extensive toll on lives and property incurred during Prabhakaran’s war and the destructive actions of the JVP, including the burning of buses, transformers and over 25 courts, have significantly impacted the economic landscape. The repercussions of these incidents continue to reverberate, influencing the nation’s economic trajectory.

One pressing issue contributing to economic challenges is the unregulated proliferation of microfinance institutions, perceived as a substantial concern in the country. The absence of legal frameworks and regulatory oversight, coupled with the lack of registration with the Central Bank, has created an environment where individuals find it challenging to secure loans through conventional financial institutions due to their stringent rules. Consequently, many turn to microfinance institutions, exacerbating the existing economic predicament.

To address this concern, there is a pressing need to establish a dedicated regulatory body, separate from the Central Bank, to oversee and govern microfinance institutions. Efforts are underway to introduce comprehensive laws aimed at regulating these entities and mitigating the potential adverse effects they pose to the country’s economic stability. The goal is to instate a regulatory framework that ensures responsible and accountable practices within the microfinance sector, thereby contributing to the overall economic well-being of the nation.

Colombo (LNW): President Ranil Wickremesinghe has returned to Sri Lanka after concluding his official visit to Dubai for the 28th session of the UNFCCC’s Conference of Parties (COP28).

The Sri Lankan delegation, including three ministers, two opposition MPs, and 20 environmental enthusiasts, aimed to garner support from Tropical Belt countries to influence global climate policy decisions.

President Wickremesinghe highlighted three key initiatives: the Climate Justice Forum, the Tropical Belt Initiative, and the establishment of the International Climate Change University (ICCU).

The Climate Justice Forum, addressing climate change issues and influencing the Global North, was launched, along with the Tropical Belt Initiative focusing on commercial investments in tropical resources.

The ICCU, aiming to strengthen global climate action, was inaugurated during the visit.

1. Exports plunges by 14.6% to USD 898.0 mn in October’23 compared to October’22 as per Customs provisional data: it’s also a 13.1% drop compared to the value in September’23.
   
2. “Hot-money” investments in Govt Treasuries continues to exit rapidly: foreign investment in Govt Treasuries records a massive reduction from Rs.159.2 bn (USD 492mn) on 30th Sep’23 to Rs.124.8 bn (USD 381mn) by 1st Dec’23: currency depreciating pressure expected to escalate further as more nervous “hot-money” investments exit.
   
3. President Ranil Wickremesinghe discusses key government initiatives, such as the Climate Change University, funding for climate change projects with US Special Presidential Envoy on Climate Change, John Kerry: emphasizes the significance of involving the private sector.
   
4. Opposition Leader Sajith Premadasa says Govt MPs who harassed him in Parliament will not be able to undo his resolve to bring to book, those that brought SL to financial ruin.
   
5. Citrus Leisure PLC says it will open SL’s first Revolving Restaurant on the 27th floor of the Lotus Tower Colombo on or around 9th December.
   
6. State Defence Minister Premitha Bandara Tennakoon says women officers will be given an opportunity to reach the top level positions of the Tri-Forces in the future.
   
7. State Finance Minister Shehan Semasinghe says “Aswesuma” payments for October’23 for 1,406,932 families amounting Rs 8,775 mn has been transferred to Banks: also says the amounts will be credited to the beneficiary accounts from today.
   
8. SL Under-19 Head Coach Jehan Mubarak says the Asia Cup Under 19 Cricket tournament to be held from Dec 8 to 17 in Dubai will give vital exposure for the SL U-19 team: also says the team led by Sineth Jayawardena is having a good team spirit.
   
9. Sports Minister Harin Fernando says a decision has been taken to appoint a new Selection Committee for SL Cricket headed by former cricketer Upul Tharanga: also says necessary steps will be taken within this week to get the ICC ban on SL Cricket revoked.
   
10. Sports Minister Harin Fernando appoints a 15-member National Sports Council chaired by Dr Maiya Gunasekera: replaces former Chairman Arjuna Ranatunga.

The 9th edition of annual India- Sri Lanka bilateral Exercise MITRA SHAKTI was conducted at Foreign Training Node in Pune, India from 16-29 Nov 2023.

2.     Indian contingent comprised of 120 personnel from the Maratha Light Infantry Regiment and 15 Air Warriors and officers from Indian Air Force (IAF). The Sri Lankan side was represented by 117 personnel from 53 Infantry Division and 06 personnel from Sri Lanka Air Force. Government of India deployed IAF IL-76 aircraft to facilitate the travel of the Sri Lankan contingent to Pune for the exercise.

3.     MITRA SHAKTI-IX was the first time that the annual exercise saw participation of the two Air Forces in addition to the two Armies, making it the first bi-service edition. Based on the success of MITRA SHAKTI – VIII, the exercise was upgraded from a Combined Arms concept to bi-service level. This demonstrates the ever-enhancing Defence co-operation between the two countries to fight common threats effectively, including terrorism.

4.     In addition, MITRA SHAKTI-IX was special as it witnessed deployment of drones and counter unmanned aerial systems besides helicopters. Army Martial Arts Routine (AMAR), Combat reflex shooting and Yoga was also included as part of the exercise curriculum. This edition was also gender inclusive, with both sides saw participation of women officers and soldiers.

5.     MITRA SHAKTI is one of the largest annual bilateral exercises in the region, held alternatively in India and Sri Lanka. It is designed to jointly rehearse sub-conventional operations under Chapter VII of the United Nations Charter, which authorizes the Security Council to take enforcement measures, including the use of military force, to address the threats to international peace and security. The exercise helps in building proficiency in tackling transnational terrorism, conduct of joint tactical operations and building combat skills. It further enhances interoperability and mutual understanding between both the Armed forces in line with India’s ‘Neighbourhood First’ policy and vision of ‘Security and Growth for all in the Region (SAGAR)’.

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Colombo

30 November 2023

Colombo (LNW): The University of Kelaniya has announced a temporary closure, excluding the Faculty of Medicine, following a disturbing incident.

In response to the abduction and assault of two security guards by a group of students, the university authorities have decided to close all academic activities temporarily.

Consequently, all university hostels, with the exception of those affiliated with the Faculty of Medicine, will be temporarily shut down. Students are instructed to vacate their respective hostels by 8:00 a.m. on Tuesday, December 5.

This measure has been taken to address the serious nature of the incident and to ensure the safety and security of all individuals on campus. The university administration is actively working to investigate the incident and take appropriate actions to maintain a safe and conducive learning environment.

Colombo (LNW): The Ministry of Education has implemented initiatives to distribute gift vouchers for shoes to a total of 747,093 students across selected schools, revealed Education Minister Susil Premajayantha.

The Minister emphasised that these vouchers will be specifically allocated to students, monks, and nuns attending selected schools, as well as those in Pirivens who are facing significant challenges, particularly in rural areas.

The project has incurred an expenditure of Rs. 2,200 million, with each voucher valued at Rs. 3000, signaling a substantial investment in providing essential footwear for deserving recipients.

To facilitate the distribution process, eligible students will be able to redeem the vouchers at stores registered with the Education Ministry. Clear instructions have been issued to the relevant Provincial, Zonal, and Divisional Education Authorities to disseminate information to students and their parents, with a circular also being issued for wider communication.

Minister Premajayantha expressed the Ministry’s ambition to extend the reach of this initiative, aiming to include one million students as eligible recipients for shoe vouchers in the coming year.

The distribution of vouchers is scheduled to take place between December 4 and December 27, 2023, with the Education Ministry overseeing the logistics of this commendable endeavour.

Colombo (LNW): Power supply has been disconnected for approximately 500,000 electricity consumers in recent days due to non-payment of bills, and red notices have been issued to approximately 5 million individuals, Leader of the Opposition Sajith Premadasa disclosed in Parliament today (04).

During a parliamentary session, the Opposition Leader expressed his concern that his inquiry made under Standing Orders 27/2 regarding the perceived unjustifiable escalation in electricity tariffs has yet to receive a response.

Consequently, he asserted that his parliamentary privileges have been violated.

Premadasa emphasised that he had raised the issue of the impracticality of tariff hikes, particularly when the Ceylon Electricity Board (CEB) is reporting substantial profits, primarily from the optimal generation of hydropower.

In response to these concerns, Leader of the House Susil Premajayantha assured that measures would be promptly taken to address the inquiry raised by the Opposition Leader.