Colombo (LNW): Sri Lanka and Sweden held their inaugural round of virtual bilateral political consultations at the senior official level on November 9, 2023.
This meeting occurred on the eve of the forthcoming 75th anniversary of diplomatic relations between the two nations, set to be commemorated in 2024.
The discussions centred on fortifying the existing multifaceted partnership and exploring new avenues for enhanced cooperation.
Key areas of focus included reinforcing the bilateral partnership in ICT, Science and Technology, Climate Change & Environment, and economic collaboration.
The two sides also engaged in dialogue regarding cooperation in multilateral forums.
The Sri Lankan delegation expressed a keen interest in investigating potential institutional collaborations and capacity-building initiatives in Research and Development (R&D), ICT, and the education sector.
Furthermore, discussions included the possibility of high-level visits from Sweden to mark the 75th anniversary of diplomatic relations in 2024.
Co-chaired by Yasoja Gunasekera, Additional Secretary/Bilateral Affairs (West) of the Ministry of Foreign Affairs of Sri Lanka, and Oscar Schlyter, Head of the Department for Asia, the Pacific region, and Latin America of the Ministry for Foreign Affairs of Sweden, these consultations signified a strategic step towards strengthening bilateral ties and fostering collaborative initiatives.
Colombo (LNW): Expatriate workers demonstrated their unwavering support for the nation by sending a robust US $517.4 million in remittances in October alone.
Since Minister of Labour and Foreign Employment Manusha Nanayakkara assumed office last May, a staggering US $7.6 billion has flowed into the country as foreign workers’ remittances.
The noteworthy surge continues to gain momentum, with October’s remittance figure marking a compelling 45.63 per cent increase compared to the US $355.4 million received in the same month last year.
The resilience of this trend is further emphasised by the cumulative foreign remittances for the first ten months of this year, which stand impressively at US $4.86 billion.
Comparatively, the figures from the same period last year reveal a remarkable growth, with US $2,929.4 million received as foreign remittances.
This substantiates an exceptional 66 per cent increase in foreign remittances during the initial ten months of this year, underscoring the sustained commitment of expatriate workers to contributing significantly to the country’s economic vitality.
Colombo (LNW): The report stemming from the inquiry into the altercation involving State Minister Diana Gamage and Samagi Jana Balawegaya (SJB) MPs Rohana Bandara and Sujith Sanjay Perera on the Parliament premises will be submitted to the Parliament Privileges Committee tomorrow (14).
Subsequent actions will be determined based on the findings of the committee’s investigation.
Deputy Speaker Ajith Rajapakse led the committee, with members including MPs Chamal Rajapaksa, Ramesh Pathirana, Gayantha Karunathilake, and Imtiaz Bakir.
The report will shed light on the incident and serve as the basis for any further actions or decisions by the Parliament Privileges Committee.
Colombo (LNW): Leader of the Opposition MP Sajith Premadasa blatantly criticised the Budget Appropriation Bill for the fiscal year 2024 presented in Parliament by President Ranil Wickremesinghe in his capacity as the Finance Minister, in what he described it as a ‘deceptive ploy’ aimed at the nation’s people.
Speaking to reporters outside the Chambers hours after the President unravelled the Budget for 2024, Premadasa contended that it is a compromise due to unmet income targets from the International Monetary Fund (IMF) agreement, preventing the acquisition of the second IMF tranche.
He emphasised the need to evaluate the implementation status of proposals from the 2022 budget before discussing new programs for the working people’s well-being, and asserted that the current regime has fallen short in implementing numerous promises outlined in the Budget 2022.
Commenting on the 2024 Budget Appropriation Bill, Opposition MP Dr. Harsha de Silva raised concerns about the high risks associated with it, and highlighted potential issues such as the proposed increase in Value Added Tax (VAT) from 15 per cent to 18 per cent, removing exemptions and adversely affecting Small and Medium Scale enterprises. Additionally, he noted a reduction in the threshold for the Social Security Levy.
The MP raised questions about the impact of the proposed increase in the loan borrowing limit and the source of these loans, expressing worries about potential effects on interest rates. Silva criticised Wickremesinghe for not addressing these concerns in the budget speech, suggesting that the details might only emerge with the issuance of relevant Gazette notifications. Furthermore, the opposition MP hinted at the President delivering the budget speech in anticipation of an upcoming election next year.
Meanwhile, Leader of the National Peoples Power (NPP) and the Janatha Vimukthi Peramuna (JVP) MP Anura Kumara Dissanayake said the President’s presentation of the Appropriation Bill for the fiscal year 2024 is a stark portrayal of a strategy reliant on ‘acquiring loans’ and ‘selling state assets’.
Speaking to reporters outside Parliament on the President’s newly presented Budget for 2024, Dissanayake strongly asserted that the government’s budget proposal for 2024 is driving the nation further into crisis.
He accused the government of exacerbating the situation by increasing the loan borrowing limit by an additional Rs. 3,400 billion beyond the initial proposal. He further contended that rather than presenting new and effective solutions to the ongoing crisis in the country, the President and his government are recycling old and failed measures.
The emphasis on loans and asset sales raises serious concerns about the economic trajectory and sustainability of the proposed budget, Dissanayake highlighted.
Colombo (LNW): The Union of State and Public Service Unions today (13) staged a protest near the Battaramulla Diyatha Roundabout, urging relief measures from the 2024 Budget.
The demonstrators called for a minimum allowance of Rs. 20,000 or a salary increase, alongside the reinstatement of the full pension system, which has been absent since 2016.
Notably, the protest proceeded without any police intervention.
Colombo (LNW): The Sri Lankan Rupee (LKR) today (13) indicates a slight appreciation against the US Dollar in comparison to last week’s Friday, as per the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has dropped to Rs. 322.12 from Rs. 322.40, and the selling price to Rs. 332.47 from Rs. 332.77.
The Sri Lankan Rupee, meanwhile, also has appreciated against several other foreign currencies, including Gulf currencies.
Colombo (LNW): A winner of the ICC Men’s Cricket World Cup with Sri Lanka in 1996 and a classy batter that valued his own wicket, Aravinda de Silva joins the ICC Cricket Hall of Fame in 2023, ICC said in its official website.
The consistent right-hander scored 20 Test centuries during an 18-year international career – the third most hundreds by any Sri Lanka men’s player – and was just as adept against the white-ball with another 11 centuries coming in 50-over cricket.
The most important of those was in the 1996 World Cup final, as de Silva almost single-handedly willed his side over the line against Australia with an unbeaten 107* in what was an unforgettable run chase.
A clever batter that always respected the situation of the game, de Silva was well renowned at being able to adapt the way he played depending on the circumstances and was an integral part in Sri Lanka’s resurgence at the end of last century.
De Silva made special mention of the role his family had in helping guide his successful cricket career.
“I am filled with profound gratitude as I accept the immense honour of being inducted into the ICC Hall of Fame. This achievement is a tribute to the dedication, sacrifice, and love that have shaped my cricketing journey,” de Silva said.
“My family, my parents, my sister, my wife and children are my anchor, and deserve the deepest thanks for their unwavering support and sacrifice, which have propelled me towards success. My friends, steadfast companions throughout my highs and lows, have been my pillars of strength.
“To my coaches, teachers, fans and supporters, your relentless belief in me has fuelled my drive to succeed. My mentors and captains have guided and inspired me, and my teammates have been my extended family on this incredible journey. To the ones I have played against, thank you for enriching my game.
“My sincere appreciation goes to the ICC, and the Hall of Fame voting committee for this extraordinary recognition. I share this honour with all who have stood by and shaped me.
“Thank you for being part of this remarkable journey.”
Colombo (LNW): Prevailing showery conditions in the island are likely to continue further due to low level atmospheric disturbance over the island, the Natural Hazards Early Warning Centre of the Department of Meteorology said in an advisory statement today (13).
Heavy showers above 100 mm are likely to occur at some places in Western, Sabaragamuwa, Central, Southern, Northern, North-Western and North Central Provinces, the statement added.
Colombo (LNW): President Ranil Wickremesinghe presented the finalised 2024 Budget Appropriation Bill a short while ago. Within this fiscal framework, President Wickremesinghe articulated a strategic approach to salary increases for public servants, emphasising the necessity of bolstering the government’s income before considering such increments. He underscored the gravity of the matter, asserting that salary adjustments must be undertaken judiciously and responsibly.
President Wickremesinghe elucidated on potential avenues for increasing public servant salaries, stipulating that such increments should be financed through prudent measures such as ‘money printing,’ tax adjustments, new taxation, or borrowing from external sources.
Notably, he emphasised that 35 per cent of tax revenue would be earmarked to cover the costs associated with raising the salaries of government employees.
Reflecting on the economic trajectory of Sri Lanka, President Wickremesinghe acknowledged the challenges encountered in the past year and emphasised the concerted efforts required to navigate the nation back onto a sustainable path. He lamented instances where certain forces attempted to impede the collective progress achieved through the hard work of the citizenry.
The budget for the upcoming year proposes a substantial increase in the living expenses allowance for government employees, amounting to Rs. 10,000. This adjustment will bring the total allowance to Rs. 17,800, addressing the longstanding absence of salary increases for government employees since 2015.
President Wickremesinghe asserted his commitment to providing relief to government employees without disrupting the delicate balance of the state budget.
Acknowledging the significant demographic impact, with approximately 1.3 million government employees and over 5 million family members, the budget proposes a 10,000-rupee increase in the living expenses allowance, culminating in a total of Rs. 17,800.
President Wickremesinghe assured a phased implementation, with the allowance incorporated into monthly salaries from April onward, and arrears for January to March disbursed in six-month instalments commencing October.
Additionally, the budget outlines plans to increase the living allowance for pensioners by Rs. 2,500, affecting 730,000 government pensioners. The monthly living allowance for this demographic will rise from Rs. 3,525 to Rs. 6,025, effective from April 2024.
President Wickremesinghe also proposed an 8 per cent increase in the deduction from salaries for contributions to the pension of widows and orphans.
Addressing housing concerns, President Wickremesinghe announced the cessation of rent charges for low-income families in Colombo’s urban housing, with full ownership granted to eligible families.
In 2024, approximately 50,000 families in Colombo will receive home ownership, contributing to the broader objective of making 70 per cent of the country’s population land and home owners.
The budget allocates funds for various infrastructure projects, including Rs. 10 billion for public facility improvements in highlands, Rs. 4 billion for housing construction for the plantation community, and Rs. 2 billion for the maintenance of bridges and roads damaged by natural disasters.
To address economic challenges, President Wickremesinghe highlighted an additional allocation of Rs. 55 billion to restart projects stalled due to the economic crisis. He earmarked Rs. 600 million for the ‘Bimsaviya’ programme, signalling a comprehensive education reform.
The budget includes provisions for establishing four new universities, with the goal of doubling or tripling the number of universities in the next two or three years.
President Wickremesinghe emphasised the development of state universities to align with the demands of the new era, beginning with the University of Peradeniya. He allocated Rs. 500 million for this initiative and expressed openness to the establishment of non-government universities, subject to robust regulatory frameworks.
The budget introduces a loan system through commercial banks, allowing repayment after securing employment, in addition to the existing interest-free student loan system. A National Higher Education Commission will be established, endowed with decision-making and regulatory powers.
President Wickremesinghe reiterated the importance of creating opportunities for employment, both domestically and internationally, for young individuals without university education. To support this objective, he allocated Rs. 150 million to the Sri Lanka Foundation for training courses.
Furthermore, the budget allocates Rs. 500 million to enhance English language literacy, underscoring the government’s commitment to educational development.
Colombo (LNW): The benefits to be delivered via the 2024 Budget Appropriation Bill.
Initiating the establishment of four new universities to offer tertiary education to high school graduates.
Launching a programme to allocate land to people living in the plantation community.
Allocating Rs. 600 million to expedite the completion of the Bhimsaviya programme.
Implementing a Rs. 1000 increase in the Senior Allowance.
Enhancing the Allowance for differently-abled people and people of renal diseases to a maximum of Rs. 7,500.
Increasing the monthly cost of living allowance for government pensioners from Rs. 2500 to Rs. 6,025.
Elevating the Government Employee Living Expense Allowance by Rs. 10,000, reaching a maximum of Rs. 17,800.
These were conveyed in Parliament by President Ranil Wickremesinghe in his capacity as the Minster of Finance, Economic Stabilisation and National Policies.
