May 22, Colombo (LNW):The Interim Secretariat for Truth and Reconciliation Mechanism (ISTRM) Commission convened three stakeholder consultations at the District Secretariat Office in Galle recently, in a bid to foster dialogue and address pressing concerns regarding the ethnic conflict and aftermath of the war. A diverse group of participants attended the meetings, reflecting a comprehensive cross-section of society, ranging from government officials to grassroots organisations.

The discussions brought together a wide spectrum of views, including government officials, media representatives, provincial leaders, and members from grassroots organisations. Led by Acting District Secretary C. P. Rajakaruna, the District Administration emphasised the importance of local perspectives in the reconciliation process. Regional reporters were briefed on the Commission’s progress, ensuring transparency and public awareness.

Divisional Secretaries and Heads of Departments from Provincial Councils contributed valuable insights, stressing the need for cohesive provincial strategies. Community stakeholders, including ex-military officers and non-governmental organisations, highlighted grassroots-level engagement, which is essential for addressing societal grievances.

Key issues discussed ranged from gender inclusivity to social welfare and victim advocacy. There were suggestions for special provisions mandating female representation in the selection of commissioners and amendments to laws providing concessions for widowers to re-marry with some entitlement of 50 percent of the allowances/salary after marriage.

Concerns were also raised regarding the re-traumatisation of victims who previously testified before conflict-related Presidential commissions. Additionally, inadequate support for disabled soldiers underscored the need for addressing the diverse needs of vulnerable groups.

The consultations concluded with optimism about the Commission’s potential to foster healing, reconciliation, and sustainable peace, emphasising the collective responsibility of all sections of society in advancing the nation’s reconciliation agenda.

Staff from the Interim Secretariat for Truth and Reconciliation, including Senior Additional Secretary to the President Ranjith Ariyaratne, Director General Dr. Asanga Gunawansa, Dr. C. Y. Thangarajah – Senior Executive (Policy), Danushi De Silva – Executive (Public Relations), Sarath Kothalawala (Coordinator), Saumya Wicramasinghe – Executive (Public Relations), and Y. L. Lokunarangoda – Senior Executive (Legal), reaffirmed the government’s commitment to an inclusive reconciliation process.

May 22, Colombo (LNW): The State Vesak festival started yesterday (21) in Matale with the blessings of the Maha Sanga and under the patronage of Prime Minister Dinesh Gunawardena.

Foreign representatives including ambassadors, ministers, and government officials also participated in the event.

The Vesak festival will continue till May 27, with the closing ceremony to be held at the Millawana Sri Sunandaramaya of the Pallepola Sasanarakshaka Mandalaya.

The Maha Sanga, including Anunayake of Siam Sect of the Malwatte Chapter Most Ven. Niyangoda Sri Vijithasiri Thera, Anunayake of the Siam Sect of the Asgiri Chapter Most Ven. Anamaduve Sri Dhammadassi Thera, Mahanayaka of the Rangiri Dambulu Chapter Most Ven. Inamaluwe Sumangala Thera, Sri Kalyani Samagri Dharma Maha Sangha Sabha Mahanayaka Most Ven. Malwane Pannasara Thera, Chief Sanganayake of Matale District of the Siam Sect of the Asgiri Chapter Most Ven. Kosgolle Seelarathana Thera, and clergy from other religions participated in the event.

Buddhasasana, Religious and Cultural Affairs Minister Vidura Wickramanayaka, Central Province Governor Lalith U. Gamage, State Minister Shanta Bandara, Members of Parliament Nalaka Bandara Kottegoda, Yadamini Gunawardena, Gunathilaka Rajapaksa, Rohini Kaviratne, Diyawadana Nilame Pradeep Nilanga Dela Bandara, ambassadors of China, Vietnam, and Korea, High Commissioner of Pakistan, Assistant High Commissioner of India, government officials including Buddha Sasana Ministry Secretary Somaratne Vidanapathirana, and many devotees also participated in this event.

May 22, Colombo (LNW):The Southwest monsoon conditions are gradually establishing over the island; hence, the prevailing showery and windy conditions will continue further.

Cloudy skies can be expected over most parts of the island.

Showers or thundershowers will occur at times in Western, Sabaragamuwa, Central, North-western, Southern and Northern provinces.

Very heavy showers about 150 mm are likely at some places in Western and Sabaragamuwa provinces and in Kandy and Nuwara-Eliya districts. Heavy showers above 100 mm are likely at some places in North-western province and in Mannar, Galle and Matara districts.

Showers or thundershowers will occur at several places elsewhere of the island.

Strong winds about (40-50) kmph at times are possible in the western slope of the central hills and in Southern province. Fairly strong winds about (30-40) kmph can be expected at times elsewhere of the island.

General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

By: Staff Writer

May 21, Colombo (LNW): The government’s plan to transform 54 year old Sapugaskanda Oil Refinery to a separate public -private enterprise pruning its staff to maximum possible manner as it is becoming inactive due to frequent shutdowns, Ceylon Petroleum Corporation sources divulged.

More than 650 employees at the Sapugaskanda Refinery, the country’s sole oil refinery, face potential job losses due to its transformation into a separate public enterprise.

According to sources, the government plans to retain only approximately 200 of the current employees for the new enterprise.

The remaining workers will be placed in a pool from which the new enterprise will select the ncessary personnel to maintain operations.

In March, the Cabinet of Ministers approved a proposal to operate the Sapugaskanda Oil Refinery as a state-owned business entity disjoined it from the Ceylon Petroleum Corporation (CPC).

The plan of the government  is to get rid of the country’s only oil refinery with a capacity to supply 100percent  of the country’s kerosene requirement, 50 percent of the aviation fuel requirement, and100 percent  of the naphtha requirement.,

It was used to produce 30 percent of the diesel requirement, 14percent of the petrol requirement, 7-8percent of the gas requirement, and 75-100percent of the furnace oil requirement.

Initially designed to process 38,000 barrels of crude oil, the refinery currently has a capacity of refining about 50,000 barrels per day.

Sapugaskanda Refinery was built by Iran under the guidance of the Ceylon Petroleum Corporation (CPC) in August, 1969.

A senior engineer of the CPC said that the closure of the Sapugaskanda Oil Refinery would cost the country an additional sum of US$ 1.1 million a day to meet its crude oil requirement.

He further claimed “The refinery has been shut down on several occasions and it has cost a lot of money to resume its operations. This was a national crime, he added.

The Cabinet of Ministers recently approved a proposal to operate the Sapugaskanda Oil Refinery as a state-owned business entity disjoined from the Ceylon Petroleum Corporation (CPC).

The government had said it has identified the need to make a ‘critical investment’ to upgrade the oil refinery in order to keep it up and running for another 25 years.

Thereby, it has been decided that the Sapugaskanda Oil Refinery be operated as a separate public enterprise and to call Expressions of Interest (EOIs) to select a suitable strategic investment partner to upgrade the infrastructure facilities to address the existing operational challenges.

The Power and Energy Minister had said the government is also exploring the option of relocating the Sapugaskanda Oil Refinery to Trincomalee in the future with upgraded modern facilities and the development of the Tank Farm.

The facility, which is the only oil refinery in Sri Lanka, was established in 1969 and fulfils approximately 25% of the country’s demand for refined petroleum products.

By: Staff Writer

May 21, Colombo (LNW): DP Education IT Campus yesterday reached a milestone of making 4,000 youth ready for IT jobs with the conclusion of coding courses worth Rs. 3 billion in the Kurunegala district.

The certification handover attended by business leader turned SLPP Parliamentarian and founder of DP Education Dhammika Perera was done ceremoniously involving parents numbering 10,000 of the students who underwent courses at 10 of the DP Education IT Campuses in the Kurunegala district.

 The 10 are part of 136 IT Campuses in the country with 126,000 students starting from Grade 6. These centres will accommodate between 750 and 2,100 students.

DP Education IT Campus integrates six global platforms, including CODE.org, Thunkable, Pictoblox, Microbit, COSPACES and HTML.

The curriculum available in Sinhala, Tamil and English language consists of 324 projects, each with 324 accompanying homework assignments.

Global price of this course excluding homework is $ 7,500 or Rs. 2.5 million. At yesterday’s ceremony, students who completed the courses ranged from those worth Rs. 2.5 million, Rs. 1 million and Rs. 640,000.

The second stage includes Full Stack Developer and Cloud Computing courses from the University of Moratuwa. The third stage allows students to pursue free courses offered by DP Education IT Campus in collaboration with Universities of Moratuwa, Kelaniya, and Ruhuna.

The course content is developed jointly by DP Education, the universities and the Sri Lanka Association for Software Services Companies (SLASSCOM), the national chamber for the knowledge and innovation industry.

The curriculum’s first and second stages can be accessed through smartphones. The third and final stage requires a computer or laptop.

The course targets completion within two years for a regular school student (two hours per week plus homework) and six months for those out of school and can dedicate 12 hours per week.

The broader goal of DP Education is to empower one million students free of charge with global IT knowledge and skills worth $ 7.5 billion in five years.

The estimated value of knowledge and skills transfer via the philanthropic gesture is on the basis of Rs. 2.5 million per student cost incurred by DP Education IT Campus or a total of Rs. 2,500 billion or $ 7.5 billion over the five-year period.

In his address at the ceremony Dhammika Perera recalled Singapore became a successful nation by giving priority to education and via his IT Campuses his policy was to promote IT education and skills thereby putting an end to poverty.

“Today your children are skilled and educated with IT knowledge worth Rs. 2.5 million and are ready to seek jobs in the IT industry,” Perera told parents attending the ceremony.

1. During the 10th World Water Summit, Presidents Ranil Wickremesinghe and Widodo reaffirm Sri Lanka-Indonesia ties: Discussions covered water management, economic cooperation, and regional security: Wickremesinghe praises Indonesia’s hydro diplomacy, while Widodo emphasises economic collaboration and vaccine market entry. discuss the Preferential Trade Agreement and Sri Lanka’s potential RCEP inclusion: express commitment to enhancing bilateral relations and global cooperation.
   
2. Opposition Leader Sajith Premadasa says corruption must be eradicated from society, with a system eliminating corruption being fostered by the government: adds the SJB is the only party which unmasked thieves without gaining power: stresses anti-corruption programmes should not be limited to ordinances but should be included in the Constitution, with an immutable mechanism being implemented.
   
3. The National People’s Power (NPP) and Opposition Leader Sajith Premadasa express condolences for the death of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian, and other officials in a helicopter crash: They praise Raisi’s contributions to international relations, including his recent visits to Sri Lanka and Azerbaijan for hydropower projects: highlight Raisi’s commitment to fostering cooperation and development, and extend their thoughts and prayers to the families and the nation of Iran during this difficult time.
   
4. The State Intelligence Service is investigating four Sri Lankans arrested by the Gujarat Anti-Terrorist Squad at Ahmedabad Airport, suspected of ISIS links: SL intelligence is coordinating with Indian authorities to verify the suspects’ backgrounds and connections to ISIS: The suspects had travelled from Colombo to Chennai and then to Ahmedabad, where they were allegedly waiting for instructions from their handler: Security at the airport was heightened following their arrest, and encrypted messages were found on their phones: SL officials are closely monitoring the situation and collaborating with Indian counterparts.
   
5. Former Chairman of the Weligama Urban Council Rehan Jayawickrema files a contempt of court lawsuit against ex-State Minister Diana Gamage, accusing her of undermining the Supreme Court’s authority with statements made on 9 May: alleges Gamage’s remarks aimed to discredit the Court following its ruling on 8 May, which disqualified her from Parliament for not being a Sri Lankan citizen: Gamage is accused of portraying herself as a victim of injustice and depicting the Court’s decision as politically motivated, intending to undermine public perception of the judgment.
   
6. Acting Finance Minister Shehan Semasinghe announces two key bills, the “Economic Transformation Bill” and the “Public Financial Management Bill,” will be introduced in Parliament to bolster Sri Lanka’s economy: These bills aim to improve public financial management and prevent future economic crises, stemming from President Ranil Wickremesinghe’s vision rather than the IMF: The Economic Transformation Bill focuses on economic growth, international trade, and climate change, while the Public Financial Management Bill enhances accountability: also target reducing public debt and improving debt servicing to ensure economic stability and sustainable growth.
   
7. In response to the rainy season, the government instructs officials to take immediate actions to mitigate dengue risk in Colombo: President’s Senior Advisor Sagala Ratnayaka recommends an awareness programme for schoolchildren and parents, to be implemented during ‘Dengue Prevention Week’ from May 26 to June 1 by the Ministry of Education: emphasises reducing dengue risks around public institutions and construction sites, and enforcing regulations against non-compliance.
   
8. Agnès Callamard, Secretary General of human rights watchdog Amnesty International, concludes a five-day visit to Sri Lanka, addressing human rights issues: highlights ongoing challenges 15 years post-civil war, emphasising the need to tackle impunity, discrimination, and suppression of freedoms: expresses concerns about new laws threatening civil society, arbitrary arrests, and lack of accountability for past violations: urges political leaders to foster reconciliation and justice, particularly with the upcoming elections and proposed Truth and Reconciliation Commission: Her visit included meetings with President Wickremesinghe, families of the disappeared, and various community representatives.
   
9. Central Bank data shows Sri Lanka’s credit card industry is set to gain momentum as ceiling rates are revised downward alongside falling lending rates: Despite a decline in new card issuance, transaction volume and value have slightly increased: Credit card activity, which had been stagnant, is now increasing due to consumer spending on festivities, leisure, and travel: However, excessive spending may lead to higher outstanding balances and interest payments: The outstanding credit card balance rose modestly in March, indicating growing consumer optimism: The CB is expected to lower credit card interest rates, currently at 28%, to align with falling loan rates.
   
10. Indika Gamage wins a bronze medal in the T-44 100 metres at the World Para Athletic Championship in Kobe, Japan, with a time of 11.83 seconds, qualifying for the Paris Paralympics: South African Mpumelelo Mhlongo won gold, and Malaysian Eddy Bernard took silver. Gamage, coached by Y. K. Kularatne, achieved his best time despite a poor start: He is set to compete in the T-44 long jump next: Additionally, Samitha Dulan will compete in the men’s Javelin Throw F-44 final, having already qualified for the Paris Paralympics.

By: Staff Writer

May 21, Colombo (LNW): Sri Lanka government authorities and the IMF have discussed some counterproposal options would have already been discussed with the IMF, which could provide the IMF executive board some space to take a more lenient view of ‘adequate progress’ on debt restructuring.

Deal likely to be reached before next presidential elections in September, but unclear whether it will happen before the next IMF review expected in June

This was highlighted in note by Baqar Zaidi, Assistant to Vice President at Citi, and Citi’s Global Head of Emerging Market Economics, Johanna Chua recently.

Sri Lanka’s dollar bonds have room to rise, even as doubt remains over whether the nation can strike a debt restructuring deal before its next review with the International Monetary Fund, according to Citi.

“We think bonds have upside from current level,” analysts at the bank led by Baqar Zaidi and Johanna Chua wrote in a note

Citi expects final recovery value on bonds to be somewhere between the mid-50 cents on the dollar, based on the government’s proposal, and high 70s cents on the dollar from the bondholder offer.

“Sri Lanka’s proposal serves as a benchmark for market prices from here onwards, and the potential for upside in order to compromise with the bondholder negotiating group is substantial,” according to Citi.

With Sri Lanka achieving much-needed stability, Citi’s Global Head of Emerging Market Economics, Johanna Chua last week stressed the importance of focusing on growth-enhancing reforms if the country were to overcome ongoing challenges.

She said such a course is essential to boost private sector investment. Growth enhancing reforms also includes further opening up of Sri Lanka and its markets, she added. “Stability was essential even though it came at a cost.

Then there is also an issue of whether people feel it (stability). For this, and given the traditional weaknesses in the economy, the country needs to generate growth,” she added.

“There is a re-rating story in Sri Lanka. There is a lot of opportunity provided Sri Lanka continues on the reforms path as well as growth. Sri Lanka cannot afford to remain as a setback nation.

The best balance is to build stabilisation with growth enhancing reforms so that you can continue both, she said.

Chua was in Sri Lanka along with a group of Citi’s clients cum investors from Europe, Middle East and Asia whom she said are upbeat too. Some of the investors include holders of Sri Lanka’s International Sovereign Bonds (ISBs) who according to Chua were also exploring opportunities in local Government bonds.

“Investors are seeing a lot of growth opportunities in Sri Lanka. There’s so much potential. If the economy can grow fast, especially on a sustainable basis, then there will be an inflow of investments and funds,” Citi’s Global Head of Emerging Market Economics emphasised.

May 21, Colombo (LNW): The National People’s Power (NPP) and Opposition Leader Sajith Premadasa have expressed their heartfelt condolences following the tragic demise of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian, and other Iranian officials in a fatal helicopter accident.

In a statement, the NPP conveyed, “Our thoughts and prayers are with the families and friends of the departed, as well as the entire nation of Iran during this difficult time.”

The NPP highlighted that President Raisi’s loss is not only significant for Iran and the Middle East but also for the global community.

“President Raisi tirelessly worked to strengthen friendly and non-hegemonic relations with numerous countries, including Sri Lanka. His recent visit to Sri Lanka to inaugurate a hydropower project, funded by the Iranian people, stands as a testament to his unwavering commitment to international cooperation and sustainable development. Furthermore, his final trip to Azerbaijan to inaugurate a similar project underscores his steadfast dedication to fostering regional collaboration and promoting mutual prosperity,” the statement read.

The NPP added that President Raisi’s legacy of fostering cooperation, development, and friendly relations will undoubtedly inspire the Iranian people to continue his mission, ensuring progress and stability within Iran and throughout the Middle East.

Opposition Leader Sajith Premadasa also issued a statement expressing his condolences. He remarked that President Raisi’s untimely passing represents a significant loss not just for the people of Iran but for the entire region.

“Iran has lost a true statesman. While the people of Iran have endured much in their long and illustrious history, the loss of His Excellency the President will require steadfast leadership from the Supreme Leader of the Islamic Republic of Iran. I have no doubt he shall provide the necessary guidance for a country and people in mourning,” Premadasa said.

Premadasa further noted President Raisi’s recent visit to Sri Lanka, stating that the Sri Lankan people were able to experience the warmth and presence of the late President.

“Our thoughts and prayers are with his family, colleagues, and the people of Iran during this period of immense grief and sorrow. May the people of Iran find solace in his enduring legacy, which leaves an indelible mark on the history of the people of Persia,” he concluded.

Both opposition parties in Sri Lanka underscored Raisi’s contributions to international relations and development, reaffirming their solidarity with the Iranian people during this time of profound loss.

May 21, Colombo (LNW): The Sri Lankan Rupee (LKR) happens to indicate steadiness against the US Dollar today (21) in comparison to yesterday, as per leading commercial banks in the country.

At Peoples Bank, the buying price of the US Dollar has dropped to Rs. 294.19 from Rs. 294.24, and the selling price to Rs. 304.15 from Rs. 304.20.

At Commercial Bank, the buying and selling prices of the US Dollar remain unchanged at Rs. 293.33 and Rs. 303.50, respectively.

Sampath Bank also follows a similar with having the buying and selling rates of the US Dollar unchanged at Rs. 295 and Rs. 304, respectively.