July 25, Colombo (LNW): State Finance Minister Shehan Semasinghe announced in Parliament yesterday (24) that the liquidation letter for The Finance Company PLC (TFC) has been issued, with the government committed to expediting the process and ensuring swift compensation for all insured depositors.
In response to a question from MP Shanakiyan Rasamanickam about the dissolution and depositor issues of TFC, Minister Semasinghe emphasised the government’s intent to resolve the matter quickly.
He stated that liquidation is the most just course of action for depositors.
The Central Bank of Sri Lanka decided on liquidation after all restructuring efforts for TFC failed. Liquidation is seen as the only way to maximise compensation for depositors and prevent further losses.
The Colombo High Court has issued the liquidation order, and the government is prioritising the acceleration of these proceedings to address the issue promptly.
July 25, Colombo (LNW): The All Ceylon Bakery Owners’ Association (ACBOA) is set to announce a possible reduction in the price of bread tomorrow (26).
Association president N.K. Jayawardena noted that a significant discussion was held yesterday (24) regarding the potential price cut, but no conclusive agreement was reached.
The deliberation on price reduction follows recent remarks by Minister of Trade Nalin Fernando, who cautioned that a control price for bread would be enforced if bakery owners did not reduce prices.
This has led bakery owners to reconsider the pricing of their products, including bread.
Jayawardena indicated that a final decision on the matter is anticipated to be made tomorrow.
July 25, Colombo (LNW): President Ranil Wickremesinghe has reiterated his dedication to promoting Buddhist education in Sri Lanka, despite various challenges.
Speaking at a scholarship award ceremony at Temple Trees on 24th July, he announced that 3,000 scholarships had been granted to student monks, Seela Mathas, and lay students across the country.
Part of the “Presidential Scholarship Program” 2024, organised by the President’s Fund, these scholarships provide financial aid to student monks studying up to the Piriven (Ordinary Level), Seela Matha, and lay students up to the G.C.E. (Ordinary Level).
An initial sum of Rs. 9,000 has been deposited into the accounts of these students, with monthly instalments of Rs. 3,000 to follow.
Further, students who pass the Piriven (Ordinary Level) or G.C.E. (Ordinary Level) exams and progress to the Piriven Pracheena or G.C.E. (Advanced Level) exams will receive Rs. 6,000 per month until they sit the exams.
The scholarships are valid for 24 months, with Rs. 18,000 credited on the ceremony day to cover outstanding instalments.
Unattended scholarship recipients will receive their payments directly into their bank accounts soon.
The selection process was overseen by the Pirivena Education Division of the Ministry of Education, with each Piriven Parivenadhipathi Thero or Institute Director involved in the selection.
The President’s Fund allocates nearly Rs. 300 million annually for this programme.
During the ceremony, President Wickremesinghe highlighted the economic hardships faced in recent years and stressed the importance of supporting Buddhist education.
He mentioned other government initiatives like “Aswesuma” and “Urumaya” aimed at providing relief and support to low-income families and emphasised the need to preserve and enhance the Buddhist education system.
Key dignitaries, including Prime Minister Dinesh Gunawardena, several ministers, MPs, and senior officials, attended the event.
July 25, Colombo (LNW): Showery condition is expected to enhance to some extent in the south-western part of the Island from tomorrow (26) in the next few days, the Department of Meteorology said in its daily weather forecast today (25).
Several spells of showers will occur in Western and Sabaragamuwa provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts, with a few showers being expected to occur in the North-western province.
Strong winds of about 50 kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Trincomalee, Monaragala and Hambantota districts.
Fairly strong winds about (30-40) kmph can be expected at times elsewhere of the island.
Condition of Rain:
Showers may occur at several places in the sea areas off the coast extending from Colombo to Matara via Galle.
Winds:
Winds will be westerly to south-westerly and wind speed will be (30-40) kmph. Wind speed can increase up to 60 kmph at times in the sea areas off the coasts extending from Kankasanthurai to Puttalam via Mannar and from Hambantota to Pottuvil. Wind speed can increase up to 50 kmph at times in the sea areas off the coasts extending from Trincomalee to Kankasanthurai via Mullaitivu.
State of Sea:
The sea areas off the coasts extending from Kankasanthurai to Puttalam via Mannar and from Hambantota to Pottuvil can be rough or very rough at times. The sea areas off the coasts extending from Trincomalee to Kankasanthurai via Mullaitivu can be rough at times. Naval and fishing communities are requested to be attentive in this regard.
July 24, Colombo (LNW): At a special Cabinet meeting held this evening at the President’s Secretariat in Colombo, chaired by President Ranil Wickremesinghe, the Cabinet decided to study the legal aspects of the Supreme Court’s decision regarding the Inspector General of Police (IGP) and announce its response within the next two days.
During the meeting, opinions were exchanged about the Supreme Court’s decision to issue an interim order preventing Deshabandu Tennakoon from functioning as the IGP. It was noted that there are several legal issues with the Court’s decision.
Cabinet Spokesman Minister Bandula Gunawardena stated that the Cabinet received the Supreme Court’s decision this afternoon and requires time to conduct a thorough study of the related legal issues. He added that the Cabinet unanimously agreed to announce its response to the legal issues raised by the Supreme Court’s decision within the next two days.
July 24, Colombo (LNW):The Agrarian Development Department announced that 61,075 hectares of Keeri Samba rice have been cultivated during this year’s Yala season. This update was provided during a discussion held by Agriculture and Plantation Industries Minister Mahinda Amaraweera on Monday (22) to review the progress of paddy cultivation in the Yala season.
Recently, the country experienced a shortage of Keeri Samba rice, prompting the government to import a substitute variety. In response to this shortage, the Agriculture Department has planned to increase the cultivation of Keeri Samba paddy. Minister Amaraweera has instructed officials to implement measures to expand Keeri Samba cultivation in more paddy lands this year.
July 24, Colombo (LNW): The Sectoral Oversight Committee (SOC) on Environment, Natural Resources, and Sustainable Development discussed the collection of PET plastic bottles for recycling using a QR code system during its meeting on Friday (12) under the Chairmanship of MP Ajith Mannapperuma.
MP Ajith Mannapperuma highlighted that although 450,000 tons of plastic are imported into the country each year, only 50,000 tons are collected for recycling, with a significant amount being burnt in the open. He emphasized that special attention should be given to PET plastic. Approximately 1,200 tons of PET plastic are used in the country each month, yet only 400 tons are recycled, leaving 900 tons improperly disposed of in the environment, including rivers, canals, and open burning sites.
The main reason for the low collection rate of PET plastic bottles is the lack of public interest due to the low resale price of these bottles.
In response to this issue, newspaper advertisements were published seeking technical and financial proposals from industrialists and other stakeholders for a method of returning deposits for PET plastic bottles based on a QR code, with a submission deadline of July 18. However, stakeholders at the meeting argued that the given period was insufficient. They requested an extension for proposal submissions and suggested making the Extended Producer Responsibility system mandatory.
The Committee recommended extending the proposal submission period from July 18 to August 27 and making the Extended Producer Responsibility system mandatory.
Additionally, officials from the Ministry of Environment were instructed to conduct a study on international methods of collecting PET plastic bottles for recycling using QR codes and report their findings to the SOC.
MP Jayantha Samaraweera and Dr. Thilak Rajapakshe also attended the meeting.
July 24, Colombo (LNW): Labour and Foreign Employment Minister Manusha Nanayakkara informed Parliament yesterday (23) that Sri Lankans in Bangladesh have not been affected by the current crisis situation in the country.
The Minister stated that there are currently 2,835 Sri Lankans working in Bangladesh, and steps will be taken to bring them back if the need arises. He also mentioned that he is working closely with the Sri Lankan ambassador in Bangladesh to monitor the situation and gather information about the Sri Lankan workers there.
Minister Manusha Nanayakkara made these remarks while responding to a question raised by MP Rajika Wickramasinghe.
July 24, Colombo (LNW): Education Minister Dr. Susil Premajayantha announced that the results of the 2023 Ordinary Level Examination will be issued by September. He made this statement while participating in a ceremony held at Homagama yesterday.
In line with a recent court decision regarding the Development Officers attached to schools, these officers will be absorbed into the teaching service. The Minister mentioned that appointments could be made following the conclusion of the case next week.
Out of 23,000 Development Officers, 6,000 have already been appointed as teachers to fill current vacancies. Interviews will be conducted for the remaining officers to arrange their appointments. Minister Premajayantha assured that all teacher vacancies will be filled promptly.
July 24, Colombo (LNW):The Supreme Court has issued an interim order preventing Deshabandu Tennakoon from functioning as the Inspector General of Police (IGP). This order came after the Court granted leave to proceed with nine petitions challenging Tennakoon’s appointment, filed by various parties including Cardinal Malcolm Ranjith.
The petitioners sought an interim order to restrain Deshabandu Tennakoon from discharging the duties and functioning in the office of IGP, which the Court has now issued.
