August 09, Colombo (LNW):Foreign Minister Ali Sabry is set to make an official visit to Egypt from August 7-9 at the invitation of Egyptian Foreign Minister Badr Abdelatty.
During his visit, Minister Sabry will engage in bilateral discussions with his Egyptian counterpart at the Ministry of Foreign Affairs in Cairo. He is also scheduled to meet with Egypt’s Minister of Investment and Foreign Trade. Additionally, Minister Sabry will hold talks at the Federation of Egyptian Chambers of Commerce and meet with several other dignitaries, aiming to bolster the multifaceted relations between the two nations.
August 09, Colombo (LNW):Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.
Showers or thundershowers may occur at several places elsewhere of the island during the evening or night.
General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
August 08, Colombo (LNW): Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardena announced that for the first time, national programs aimed at strengthening the country’s economy have been passed into law in accordance with international standards. He made this statement during a press conference in Kandy on Tuesday evening, after reviewing development activities in the city, including the construction of the Getambe flyover with assistance from the Hungarian government. Representatives from Hungary were also present.
Minister Gunawardena emphasized several key legislative measures:
Central Bank Act: Suspends the printing of money for price stabilization.
Debt Control Act: Prevents the government from borrowing at exorbitant interest rates.
Public Financial Management Act: Ensures economic policies are consistent and budgets are prepared by experts from the Budget Committee.
Anti-Corruption Act: Strengthens efforts to combat corruption.
He highlighted recent agreements, including a Comprehensive Loan Agreement with the International Monetary Fund (IMF) and debt repayment agreements with the Paris Equity Group, China, and India.
“In our effort to develop Kandy as a green city, representatives from the World Bank have shown interest in providing 200 electric buses on a loan basis,” Minister Gunawardena stated. He underscored Sri Lanka’s commitment to reducing its debt to 95 percent of GDP by 2032, down from the current 128 percent.
Key financial targets outlined by the Minister include:
Government’s gross financial requirement not exceeding 13 percent of GDP.
Loan installments and interest payments capped at 4.5 percent of GDP.
Maintaining a 2.3 percent primary account surplus in the Budget.
Limiting the balance of payments deficit to no more than 1 percent of GDP annually.
Sustaining a growth rate above 5 percent per year.
Keeping unemployment below 5 percent and increasing female labor participation to 40 percent.
Minister Gunawardena stressed that these laws, aligned with international agreements, are part of a broader strategy to transform Sri Lanka into a developed country with a per capita income of USD 20,000 by 2048.
Also present at the press conference were Investment Promotion State Minister Dilum Amunugama, Transport and Highways Ministry Secretary Ranjith Rubasinghe, and Marton Laszlo, Honorary Consul of Sri Lanka to Hungary and CEO of Betonutepito.
August 08, Colombo (LNW): The Anunayake of the Malwatte Chapter, Ven. Dimbulkumbure Wimaladhamma Thera, has expressed concerns over the excessive length of the ballot paper for the Presidential Election. He pointed out that 18 candidates, many of whom are relatively unknown to the public, have extended the ballot unnecessarily by depositing money to participate.
The Thera highlighted that this situation not only increases printing costs but also causes significant inconvenience to voters. “This will result in much inconvenience to the people when voting for their preferences,” he stated, questioning the rationale behind individuals with little chance of securing even 1,000 votes wanting to contest in the Presidential Election.
He further noted that millions of extra rupees would have to be spent on the election due to this issue.
These observations were made when the Chairman of the alliance ‘Let us stop corruption and build the motherland,’ MP Roshan Ranasinghe, and former Chief Justice Sarath N. De Silva visited the Malwatte Maha Vihara on the 7th of August to seek blessings from the Anunayake Thera.
The Thera also commented on the motivations behind these candidacies, attributing them to a desire for personal recognition. He warned that if this trend continues, future ballot papers could become even longer, leading to increased costs and logistical challenges.
Drawing a parallel to the Mahapatharanga Jathakaya, the Thera remarked that the extended ballot paper would demand additional state finances and the time and labor of officials, exacerbating the administrative burden.
August 08, Colombo (LNW): SJB MP Dr. Harsha De Silva addressed Parliament yesterday, asserting that conditions imposed by the International Monetary Fund (IMF) will be revised under their government.
“A structural change should be made in the agreements signed with the IMF. It can be done, and we will do it under our government,” he stated. He emphasized that measures would be taken to support local entrepreneurs and provide relief by reducing the tax burden on the people.
Dr. De Silva expressed partial agreement with the core principles of the Economic Transformation Act but voiced concerns over certain conditions agreed upon with the IMF. He stressed the necessity of economic reform to recover from the ongoing crisis.
Criticizing the current government’s increase in petrol prices from Rs.150 to Rs.400, he proposed an innovative solution: a program to credit Rs.200 to the bank accounts of individuals based on their income category after they pay Rs.400 per liter. He urged for this idea to be recorded in the Hansard before others could replicate it, clarifying that it would benefit low-income individuals, not those paying income tax.
Highlighting the importance of earning foreign currency to address the nation’s debt, Dr. De Silva announced plans to promote an export-oriented economy. He called for continued support to enhance the economic growth rate achieved in the first quarter of 2024.
Reflecting on past political events, he mentioned that his party did not abandon the country when former President Gotabaya Rajapaksa left. He explained that the then-government did not provide accurate economic data, making it difficult to address the situation effectively.
“Our goal is to distribute benefits among the people by applying new technology and improving local businesses,” he stated, emphasizing the importance of reducing the high cost of living.
Dr. De Silva criticized the government’s plan to impose an 18 percent VAT on food and stressed the need for a revised IMF agreement. He highlighted the potential of achieving 10 percent economic growth, which could make Sri Lanka a developed country by 2046, as opposed to 2075 if current trends continue. He also emphasized the role of digital technology in development and criticized market inefficiencies caused by various mafias, including the rice mafia.
“We are starting the Shakti rice campaign again to support farmers. Despite my appearance, I am committed to strengthening the farming community by providing necessary facilities and technology,” he added.
Dr. De Silva acknowledged President Ranil Wickremesinghe’s role in bringing him into politics and noted their personal camaraderie, despite differences in policies and politics. “Even at the Royal-Thomian match, we meet, drink a beer, and sing a song. There is no problem with that. But there are problems in terms of policies and politics between us,” he concluded.
August 08, Colombo (LNW): President Ranil Wickremesinghe met with a group of undergraduate law students from the Open University of Sri Lanka at the Presidential Secretariat yesterday (06), fostering an educational and interactive experience.
This visit is part of the President’s initiative to provide school and university students with opportunities to explore places of educational value around Colombo, including President’s House, the Presidential Secretariat, the Port City, the Central Bank, and Parliament.
Two hundred and eighty undergraduate law students participated in the field trip. During their visit to the Presidential Secretariat, President Wickremesinghe engaged in a friendly and informative conversation with the students, who had requested an opportunity to meet him.
The President inquired about their educational activities and addressed their questions regarding the Legislature, the Executive, and the Judiciary, providing insights into these crucial aspects of governance.
The visit concluded with a group photo of the President and the students, marking a memorable and inspiring day for the future legal professionals.
President’s Secretary Saman Ekanayake, President’s Legal Advisor Bimba Thilakaratne, and Assistant Director of the Presidential Secretariat Major Nadeeka Dangolla were also present.
August 08, Colombo (LNW): The 12th World Construction Symposium with the Green and Sustainability Awards Night will be held on 9 and 10 August at Taj Samudra, Colombo under the theme of empowering construction industry: towards sustainable development goals”. .
The Ceylon Institute of Builders (CIOB) and the Building Economics and Management Research Unit (BEMRU), Department of Building Economics, University of Moratuwa, Sri Lanka (UOM) are organizing the symposium.
The World Construction Symposium, which is held annually by the UOM and CIOB, will provide a special forum for researchers and practitioners in the areas of built environment and construction industry related research worldwide to share their knowledge, experiences, and research findings.
The Ceylon Institute of Builders (CIOB) has been very successfully conducting this symposium since its commencement in 2012. Each year, it has grown and expanded its scope of attendees and contributions to the betterment of Sri Lankan construction.
With the help of the UOM, this is one of the main events where global and local universities and professionals come together.
More than a 100 research papers are being submitted from top ranked universities from all over the world.
CIOB is of the view that these research papers should be entertained and used for the practical use to the benefit of the industry by the industry research units and authorities of the public and private sectors.
“Furthermore, decision makers of the industry have to seriously think about bringing down construction costs, management inefficiency, and cut down wastages.
If we attend to these we can save over 25%, and in that case, the Sri Lankan construction cost can remain competitive on par with our neighbouring countries. However, other countries say our construction quality and lifetime is very high and we have almost no failures,” said the CIOB.
The CIOB also looks forward to the implementation of the Roadmap 2023-24 handed over to the President and the construction industry as the local debt restructuring process is underway. JICA and other foreign-funded projects need to be started subsequently.
The 12th World Construction Symposium with the UOM and the CIOB has planned to conduct the annual Award Ceremony as the concluding event. It aims to convert academic papers and concepts into reality and acknowledge those who have integrated academia into the Sri Lankan construction industry.
In such a difficult time, the CIOB will also conduct a ‘Green and Sustainable Awards’ evaluated by a panel of prominent industry professionals and academics to recognise efforts towards sustainability in various fields, organisations, projects, and people to appreciate and motivate industry stakeholders.
August 08, Colombo (LNW): A ‘Regional Centre for Maritime Studies’ will be set up in Sri Lanka through a bilateral agreement between the Governments of Sri Lanka and France.
The French Government has identified Sri Lanka as the most suitable location for this centre, recognising the country’s proactive initiatives in maritime protection as a member of the Association of Indian Ocean countries.
The proposed centre will be set up at the General Sir John Kotelawala Defence University, with additional support and infrastructure provided by the Trincomalee Naval and Maritime Academy.
The Cabinet of Ministers at its meeting on Monday approved the establishment of this Regional Centre for Maritime Studies.
This strategic placement leverages Sri Lanka’s geographic and academic strengths to foster regional maritime studies and collaborations.
“The centre aims to disseminate knowledge and coordinate actions based on joint studies, enhancing regional maritime security and cooperation,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said.
The proposal to this effect tabled by President Ranil Wickremesinghe in his capacity as Defence Minister was approved by the Cabinet of Ministers.
A few months ago, the French Government proposed the creation of this centre, marking France’s first significant maritime initiative in the South Asian seas. T
his move has sparked considerable debate and speculation about the deeper strategic motives behind this decision.
he initiative, aimed at enhancing maritime security and knowledge dissemination across the Indian Ocean region, will see the centre set up within the General Sir John Kotalawala Defence University.
The Trincomalee Faculty of Naval and Oceanographic Sciences will provide the necessary support and infrastructure, further cementing Trincomalee’s status as a key strategic maritime hub.
The Council of Ministers has approved a proposal by the President, who also serves as the Minister of Defence, to enter into a bilateral agreement with France for the establishment of this centre.
This move has raised eyebrows among geopolitical analysts, who suggest that France’s late but strategic entry into the region could signal broader ambitions.
Critics argue that France’s presence in the Indian Ocean could shift the regional balance of power, given the nation’s historical influence and current military capabilities.
This development comes at a time when maritime security and territorial waters are increasingly becoming focal points of international tension.
August 08, Colombo (LNW):The race for the 2024 presidential election is heating up, with the number of candidates who have deposited securities rising to 22 as of last night.
An official statement from the commission highlighted that among the registrants, 11 recognized political parties have successfully deposited security money. Additionally, the commission noted that 10 independent candidates, along with another political party, have also met the requirements by depositing bonds.
As the election draws nearer, the commission emphasizes the importance of fair play and adherence to legal guidelines.
August 08, Colombo (LNW): TThe All-Island Grama Niladhari Officers’ Association has announced a two-day trade union action to protest the arbitrary gazetting of the Grama Niladhari Service Constitution.
General Secretary Jagath Chandralal stated that officers will withdraw from their service duties on Monday and Tuesday. However, he assured that this action will not interfere with election activities.
