By: Isuru Parakrama

October 17, Colombo (LNW): Senior Presidential Advisor on Economic and Financial Affairs, Professor Anil Jayantha, has addressed recent reports concerning the government’s borrowing activities, clarifying that raising funds from the domestic financial market to cover expenses and repay maturing treasury bills and bonds is a standard procedure, not an extraordinary occurrence.

Speaking on the matter, Professor Jayantha emphasised that the government’s need to secure funds for essential services and operational costs is ongoing, facilitated through weekly treasury bill and bond sales conducted by the Central Bank of Sri Lanka.

“Each week, the Central Bank raises funds to meet the country’s financial needs, while also repaying those maturing on the due date. This is a regular, routine process that has been in place for years,” Jayantha explained, countering suggestions that recent fundraising efforts were linked to the appointment of the new President.

His remarks followed reports suggesting that the current administration has increased its borrowing from international markets.

However, the Senior Economist dismissed these claims, asserting that no additional borrowing had occurred and suggesting that media outlets reporting such activities were misinformed.

“What we are seeing is the usual process of collecting funds to support government functions. There has been no unusual or special borrowing from either domestic or international markets,” Jayantha said, adding that the media reports of new government loans should be investigated for accuracy.

He also touched upon the Central Bank’s efforts to stabilise the financial market, confirming that a recent purchase of US dollars had taken place to support this objective.

However, he clarified that this action occurred before the new President’s appointment, and remains a standard component of managing the nation’s financial stability.

Professor Jayantha’s comments aim to reassure the public and financial sectors that the current fundraising activities are part of established fiscal management practices, rather than a response to any sudden or pressing financial concern.

He further stressed that the government, through the Central Bank, continues to assess the domestic financial landscape to ensure that these processes remain effective and transparent.

By: Isuru Parakrama

October 17, Colombo (LNW): Prime Minister Harini Amarasuriya convened a crucial meeting this (17) afternoon with representatives from several university student unions to address a series of pressing issues affecting students across the country.

The discussions focused on the educational and welfare challenges that have long plagued the university system, with a particular emphasis on unresolved concerns that continue to impact student life.

The meeting saw active participation from various student unions, including the prominent Inter University Students’ Federation (IUSF), which has been vocal in highlighting the difficulties faced by students in accessing quality education and ensuring their basic welfare needs are met.

Key issues discussed included inadequate facilities, the growing disparity in educational resources, and the need for enhanced student support services.

Prime Minister Amarasuriya acknowledged the depth of the concerns raised and reiterated the government’s commitment to addressing these challenges in a comprehensive and sustainable manner.

She underscored the importance of ensuring equal access to education and improving the overall university experience, both academically and in terms of student welfare.

In addition, the dialogue touched upon the importance of safeguarding academic freedoms and the need for better dialogue between university administrations and student bodies to foster a more harmonious educational environment.

By: Isuru Parakrama

October 17, Colombo (LNW): The Election Commission of Sri Lanka has introduced spending limits for candidates contesting the upcoming Parliamentary elections, establishing clear financial boundaries to ensure fair competition.

These regulations aim to control campaign expenditure and promote transparency in the electoral process.

Under the new guidelines, the allowable campaign spending for individual candidates ranges between Rs. 1.7 million and Rs. 5.7 million, depending on the district in which they are contesting.

Candidates running for a seat on the national list, however, face a significantly lower spending cap, with permissible amounts varying between Rs. 6,200 and Rs. 53,600.

Political parties and independent groups participating in the General Election have also been given specific financial limits.

The maximum expenditure permitted for such entities ranges from Rs. 9.9 million to Rs. 81.7 million, based on the size and scope of their campaigns.

By: Isuru Parakrama

October 17, Colombo (LNW): The Maritime Environment Protection Authority (MEPA) has revealed that a staggering 26 ships contributed to pollution in Sri Lankan waters over the past year, based on findings from a satellite monitoring initiative conducted in partnership with the French government.

This project utilises cutting-edge satellite technology to track and analyse instances of maritime contamination, providing critical insights into the state of the nation’s marine environment.

Amongst the most significant incidents impacting Sri Lanka’s marine ecosystem are the catastrophic shipwrecks of the New Diamond and the X-Press Pearl. In September 2020, the New Diamond, which caught fire and subsequently sank 38 nautical miles off the east coast, and the X-Press Pearl, a Singapore-registered vessel that sank near Colombo Port after a fire in May 2021, both inflicted severe and lasting damage to marine life and coastal regions.

These disasters highlighted the vulnerabilities of Sri Lanka’s waters and the need for stringent environmental protections.

In light of these environmental calamities, MEPA, with assistance from a French firm, initiated a pilot project aimed at monitoring fuel spills in the nation’s waters using advanced satellite technology.

This initiative has yielded alarming results, confirming that 26 vessels entering Sri Lankan waters have contributed to the pollution crisis over the last year.

Project Manager Oliver Germane commented on the findings, stating, “When we presented this report to various stakeholders, they were taken aback by the sheer volume of pollution detected. In total, we identified 115 instances of pollution over the span of 12 months, indicating that each time we capture an image, there is over a 50% chance of identifying pollution in that image.”

Germane further elaborated on the scale of the pollution, estimating that more than 6 million litres of pollutants were released into Sri Lankan waters throughout the year.

This equates to roughly 500,000 litres of pollutants entering the marine environment each month.

Notably, he pointed out that the pollution resulting from the X-Press Pearl incident alone was estimated at 350,000 litres, suggesting that similar volumes of pollutants are being introduced into the waters monthly from various sources.

Moreover, Germane indicated that the project had enabled the identification of potential polluters in several instances.

“In 26 cases, we were able to pinpoint the vessels responsible for the pollution, which allows us to take necessary actions against these entities,” he remarked.

The MEPA is poised to take stronger measures to safeguard its waters, ensuring that both the ecosystem and the livelihoods dependent on it are protected for future generations.

By: Isuru Parakrama

October 17, Colombo (LNW): President Anura Kumara Dissanayake has underscored the urgent need to revitalise Sri Lanka’s education system to align with global standards and equip future generations for success.

During a progress review meeting at the Presidential Secretariat on the 16th of October, he emphasised that a robust educational framework is essential for enhancing the nation’s human capital, which is crucial for Sri Lanka’s long-term development.

Highlighting the responsibility that education officials bear in shaping the workforce for the next decade, the President articulated the need for educational initiatives to be closely aligned with international requirements.

“Our children must acquire the necessary skills and knowledge to thrive in a rapidly changing world,” he stated, asserting that educational reforms must be tailored to prepare students for future challenges.

The meeting, co-chaired by Prime Minister Dr. Harini Amarasuriya, delved into five pivotal projects spearheaded by the Ministries of Education, Science, and Technology.

Among the key topics discussed were the modernisation of school curricula, enhancements in teacher training programmes, improvements in secondary education, advancements in technical education, and the expansion of information technology education.

Both the President and Prime Minister urged officials to accelerate the implementation of these initiatives, recognising that timely execution is vital to ensure that reforms reach all children effectively.

A significant focus was placed on reorganising the current school system to make educational opportunities more accessible and impactful for every student across the country.

Furthermore, discussions included plans to increase the number of schools offering Advanced Level curricula in science, mathematics, and technology.

This initiative aims to better prepare students for higher education and to meet the demands of a technologically driven economy.

The meeting was attended by key officials, including Secretary to the President Dr. Nandika Sanath Kumanayake and Education Ministry Secretary Tilaka Jayasundara, alongside various representatives from the relevant ministries.

In conclusion, President Dissanayake’s vision for a reformed education system reflects a broader commitment to fostering a knowledgeable and skilled workforce capable of driving the nation’s progress in the years to come.

October 17, Colombo (LNW): At the 45th National Conference of Chartered Accountants in Colombo, three former Sri Lankan Presidents—Chandrika Bandaranaike Kumaratunga, Maithripala Sirisena, and Ranil Wickremesinghe—came together to discuss the country’s political landscape.

The event, held on the 16th of October, provided a unique platform for the former leaders to reflect on governance and share advice for the nation’s future.

Maithripala Sirisena took the opportunity to speak about integrity within government, stressing that progress requires more than just a capable leader.

“A country cannot advance solely because its ruler is honest,” he noted, emphasising that the Prime Minister, Cabinet, and other officials must also operate free from corruption.

He also expressed frustration with the narrative that the country has been corrupt for decades, urging people to consider the broader role of society in fostering change.

Sirisena went on to highlight that politicians and civil servants alike should receive proper training to serve the nation effectively, while also pointing out the public’s responsibility to support clean governance.

Turning to a more light-hearted note, Sirisena offered an optimistic perspective for the future, jokingly suggesting that perhaps one day a Chartered Accountant might ascend to the presidency.

He used the opportunity to underline the need for citizen involvement in building a stronger country, particularly during elections, where integrity often gets overshadowed by vote-buying practices.

Ranil Wickremesinghe focused on the parallels between corporate and political leadership, using the late Mr. Panditaratne as an example. Wickremesinghe observed that, while corporate leaders and politicians may share certain skills, the roles are inherently different, highlighting how leadership in business doesn’t always translate to political success.

“Steve Jobs would never have been President of the United States,” he remarked, contrasting this with Donald Trump’s ability to make the leap from business to politics.

Chandrika Bandaranaike Kumaratunga underscored the importance of capable, educated individuals entering politics. She expressed hope for a new generation of leaders, even though she no longer participates directly in the political arena.

Her remarks reinforced the need for structural changes in how leadership is nurtured and encouraged in the country.

When the subject of corruption in ministries was raised, Sirisena candidly addressed the issue, pointing out that corrupt practices within the government often extend beyond just politicians.

“There are educated people who steal,” he stated, explaining that corruption frequently involves ministry secretaries and other senior officials, creating a network of complicity.

Finally, when asked about his controversial decision to appoint Mahinda Rajapaksa as Prime Minister during the “Good Governance” government, Sirisena responded with a touch of humour. He suggested that anyone curious about the details could ask him privately but took full responsibility for his choices, acknowledging that leadership often involves making difficult and divisive decisions.

The gathering offered a rare and insightful glimpse into the thoughts of three former leaders, each bringing their unique experiences and perspectives to the conversation, while addressing the pressing challenges facing Sri Lanka today.

By: Isuru Parakrama

October 17, Colombo (LNW): Sri Lanka welcomed 63,491 tourists in the first half of October, reflecting a continued slowdown in visitor numbers ahead of the upcoming winter season, according to data released by the Sri Lanka Tourism Development Authority (SLTDA).

Between 7th and 15th October, the daily average of arrivals stood at 4,169, a slight drop from the 4,327 recorded during the first six days of the month.

However, this figure represents a marginal increase from September’s average of 4,071 tourists per day.

Despite this, the overall growth rate in tourist arrivals for September marked a modest year-on-year increase of 9.11 per cent, suggesting a slower pace of recovery in comparison to previous months.

The first half of October saw an overall daily average of 4,232 visitors, with India remaining the dominant source of arrivals, contributing 18,078 tourists.

China and the United Kingdom followed with 4,504 and 4,495 arrivals, respectively. Other key source markets included Germany, Russia, and Australia.

Cumulative arrivals for 2024 have now reached 1,548,299, with India accounting for 304,634 visitors. The UK ranked second with 140,959 arrivals, while Russia held third place with 130,701.

Although tourist arrivals in October typically surpass those of September, the SLTDA has forecasted a modest total of 155,070 arrivals for the month, reflecting a cautious outlook for the remainder of the year.

By: Isuru Parakrama

October 17, Colombo (LNW): The Sri Lankan Ministry of Foreign Affairs has raised concerns over the worsening conflict in the Middle East, particularly in Lebanon, which has led to a critical situation.

Given the significant number of Sri Lankan nationals working in the region, the government has implemented measures to ensure their safety through the country’s diplomatic missions.

In an official statement, the Foreign Ministry assured that these missions are taking proactive steps to safeguard Sri Lankan workers, with regular updates and instructions being provided to citizens in the affected areas.

Sri Lankans residing in the Middle East are urged to stay informed and follow the guidance issued by their respective missions to mitigate any potential risks.

Relatives of Sri Lankans in the Middle East have also been advised to contact the Ministry’s Consular Affairs Division should they need information or assistance regarding their loved ones in the event of an emergency.

The Ministry provided two key contact numbers—011 2338812 and 011 7711194—for families to reach out to in times of crisis.

The Ministry continues to monitor the situation closely and is working in coordination with its diplomatic representatives to respond swiftly to any developments that may affect Sri Lankan nationals.