March 06, Colombo (LNW): In response to the recent revelation of leaked question papers in key subjects, the Department of Education in the Western Province has announced the re-conducting of final examinations for grades 10 and 11, commencing on Wednesday (06). The decision follows the suspension of exams in Science, History, and Mathematics due to the security breach.
New sets of question papers will be provided for the affected subjects, and the rescheduled exams will take place on the 7th, 8th, 11th, and 12th of March. The zonal education offices will distribute the revised question papers to school principals.
Simultaneously, investigations are underway, led by the Western Provincial Education Ministry and the Criminal Investigation Department, to identify the source of the leaked papers.
In a parallel development, the Sabaragamuwa Provincial Ministry of Education has taken proactive measures. The Grade 10 English subject exam, initially postponed due to a leaked English question paper, will now proceed today. Students will receive a completely new set of questions, ensuring the integrity of the examination process.
March 06, Colombo (LNW): Attorney Shantha Niriella, the Chairman of the Consumer Affairs Authority, along with the entire Board of Directors, has been served with a resignation notice. The directive came from Minister of Trade, Commerce, and Food Security, Nalin Fernando.
The call for resignation signals a notable change in the leadership of the Consumer Affairs Authority, with a new Board of Directors expected to be appointed shortly. The reasons behind this decision and the potential impact on the organization’s future actions remain to be seen as the Ministry prepares for a transition in leadership.
Ranil Wickremesinghe’s proposal to empower provincial governors in refusing the use of school premises for political purposes has been approved by the Cabinet of Ministers, as announced by Minister Bandula Gunawardena.
Opposition and SJB leader Sajith Premadasa questioned the government’s intent to quickly pass the Social Security Contribution Levy (Amendment) Bill and the Value Added Tax (Amendment) Bill in Parliament without the Attorney General’s recommendations. Premadasa highlighted that these bills were included in the Order Book without the necessary input from the Attorney General.
The no-confidence motion against Speaker Mahinda Yapa Abeywardena was handed over to the Deputy General Secretary of Parliament. It was signed by 44 parliamentarians including Opposition Leader Sajith Premadasa, Chief Opposition Whip Lakshman Kiriella and MPs Prof. G.L. Peiris, Rohini Kumari Wijeratne, Hesha Vithanage, Mano Ganesan, Rishad Bathiudeen, M.A. Sumanthiran, S.M. Marikkar, Ranjith Madduma Bandara, Thalatha Atukorale, Vijitha Herath and Chandima Weerakkody.
Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva has announced a 45-day extension for the submission of bids for SriLankan Airlines. During a media briefing, he disclosed that an additional 45 days would be allocated to invite bids before the selection of an investor for the national carrier.
Cabinet approval has been obtained to extend the validity period of the scheme allowing Sri Lankans working abroad to import fully electric vehicles. The initial approval for this scheme, granted in August 2022, facilitates the issuance of licenses to overseas Sri Lankans for importing electric vehicles through formal bank transfers of foreign remittances at licensed banks in Sri Lanka.
Sri Lanka and India are working on an estimated USD 1.2 billion undersea transmission line that will link the island nation’s power grind with that of India to provide energy security to the country. The proposal is to link Sri Lanka’s north central town of Anuradhapura and Chennai, the capital of Tamil Nadu state in India through a direct power line. After a 130km overland transmission line in India, an undersea line (via a submarine cable) will emerge at Thiruketheeswaram in Mannar in northeast Sri Lanka.
The Cabinet of Ministers has approved a proposal to develop Galle Harbour for commercial and recreational purposes. Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva submitted the proposal, which aims to seek aspirations and proposals for selecting an investor to undertake the development project for Galle Harbour.
Sri Lanka’s earnings from merchandise exports in January 2024 amounted to USD 970.7 million, marking a decline of 0.77% as opposed to the corresponding month last year, according to the Export Development Board (EDB).
The Anti-Corruption Act No. 09 of 2023, through Section 80, expands the scope of asset and liability disclosure beyond the requirements outlined in the amended Declaration of Assets and Liabilities Law No. 01 of 1975 by Act No. 74 of 1988. This new provision mandates additional disclosure by various officials and categories of individuals, broadening the coverage for transparency and accountability measures.
The Sri Lanka Cricket team has commenced a new initiative which recognizes on-field performances of cricketers. According to SLC, as part of a new initiative, Charith Asalanka was awarded the ‘Orange Cap and the Coin’ by the team for his excellent fielding efforts during yesterday’s game against Bangladesh.
March 06, Colombo (LNW): The International Gita Mahotsav, spanning four days, took place in Colombo from Friday to Monday (1 to 4). The event marked the fifth edition of this international celebration, organized for the first time in Sri Lanka by the Kurukshetra Development Board of the Government of Haryana (KDB), India. The initiative was a collaboration between Sri Lanka’s Buddhasasana, Religious and Cultural Affairs Ministry, and the Swami Vivekananda Cultural Centre, the cultural arm of the High Commission of India in Colombo, along with approximately 30 religious and social organizations in Sri Lanka.
A key moment of the Mahotsav was the presentation of a copy of the Shrimad Bhagavad Gita to Speaker Mahinda Yapa Abeywardena. Noteworthy events included the Sadhbhavna Yatra from Nelum Pokuna to Vihara Mahadevi Park in Colombo on Sunday (3), featuring nearly a thousand artists displaying local performing arts, accompanied by floats from ISKCON, Ramakrishna Mission, and Mayurapathy Sribhadrakali Temple. Prime Minister Dinesh Gunawardena, Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana, and Buddhasasana, Religious, and Cultural Affairs Minister Vidura Wickramanayaka, along with High Commissioner Santosh Jha and the Indian delegation, witnessed the Yatra.
The second day of the Mahotsav featured an International Discourse on Gita and several seminars by experts exploring the theme of ‘Gita – An Epitome of Peace, Fraternity, and Harmony.’ The panel for the International Gita Discourse included remarks from Minister Vidura Wickramanayaka, High Commissioner Santosh Jha, Swami Gurusharanand, Gita Manishi Swami Gyanand, Member Secretary KDB Sh. Vikas Gupta, and Prof. Asanga Tilakaratne. The discussions highlighted the universality and timelessness of Gita’s message.
This edition of the International Gita Mahotsav in Sri Lanka marked the largest international gathering to date, following previous editions in Australia (2023), Canada (2022), UK (2019), and Mauritius (2019). The Kurukshetra Development Board has been organizing the Gita Mahotsav within India since 1989 in the city of Kurukshetra, where the ‘Bhagwad Gita’ is believed to have been delivered by Lord Krishna to Arjuna as part of the epic Mahabharat.
March 06, Colombo (LNW): The Commission for Truth, Unity, and Reconciliation (CTUR) takes a significant step toward fostering national healing, justice, and unity in Sri Lanka. Recent dialogues held in Colombo aimed to provide clarity on the draft Bill related to the proposed CTUR.
The sessions brought together a diverse assembly of individuals and stakeholders, including representatives from civil society organizations and religious institutions represented by the Himalayan Group. This inclusive approach sought unique perspectives and expertise. Another session included senior academics, journalists, and representatives of civil society organizations, offering a comprehensive range of insights and expertise.
The envisioned CTUR in Sri Lanka is poised to be an autonomous truth-seeking body, established through legislative channels via an Act of Parliament. With a specific mandate to uncover truths regarding alleged violations during the country’s conflict in the Northern and Eastern Provinces from 1983 to 2009, the CTUR aims to be an impartial entity. It will systematically gather victim narratives, document instances of violence, acknowledge past injustices, and formulate recommendations to prevent future occurrences, contributing to the nation’s healing process post-conflict.
The recent dialogues focused on the draft legislation for establishing an independent commission, complementing the efforts of the Interim Secretariat for Truth and Reconciliation Mechanism (ISTRM). Key provisions of the Bill emphasize the commission’s mandate to investigate and offer recommendations regarding human rights violations during the conflict period and its aftermath.
Stakeholder engagement strategies, including field visits and consultation forums, were discussed, along with insights into the drafting process of the proposed legislation. The ISTRM highlighted the extensive consultations conducted by the Consultation Task Force from 2016 to 2018 and ongoing consultations with stakeholders.
Recognizing the need for a coordinating mechanism within the government for effective reconciliation and justice, discussions touched upon the media’s role in shaping public opinion and the importance of responsible and neutral reporting. The composition of the commissions, the inclusion of diverse expertise, and the engagement of civil society and religious leaders in reconciliation efforts were also emphasized.
The ISTRM clarified the commission’s jurisdictional scope, the appointment process for commissioners, and the roles of the advisory panel and monitoring committee. Emphasizing objectives such as promoting truth-telling, restoring victims’ dignity, and preventing future conflicts, participants stressed the importance of stakeholder engagement and invited constructive feedback for the draft legislation.
Numerous ideas and suggestions gathered from these consultations have already been incorporated into the draft bill. Following an extensive consultation process, the draft Bill is set to be submitted to Parliament for further consideration. Prominent attendees included Ven. Kalupahana Piyarathana Thera, Dr. Jehan Perera, Dr. Joe William, Dr. Dayani Panagoda, and Visaka Dharmadasa, showcasing widespread interest and engagement in the reconciliation process. The discussion from the ISTRM was led by Director General Dr. Asanga Gunawansa, PC, aided by the Head of Policy, Dr. C. Y. Thangarajah.
March 06, Colombo (LNW):The closure of the request for proposals regarding the divestment of SriLankan Airlines, initially scheduled for March 5, has been extended by an additional 45 days, as announced by Shipping and Aviation Minister Nimal Siripala De Silva.
The extension is attributed to concerns over delays faced by tourists and passengers, coupled with the airline’s substantial debt, reaching approximately USD 1.2 billion. These factors may pose challenges for potential investors considering taking over the airline.
Minister De Silva highlighted the difficulties faced by the state in maintaining the airline, emphasizing the jeopardy of over 6,000 jobs if the airline were to shut down. In response, President Ranil Wickremesinghe has proposed injecting over USD 500 million into the airline, aimed at reducing its debt by almost half.
The proposed financial injection involves absorbing the airline’s aviation fuel bill, settling dues owed to state banks (Bank of Ceylon and People’s Bank), and addressing obligations to the Treasury. Additionally, cost-cutting measures, such as restricting foreign tours and holding bi-weekly reviews to control salary increases, will be implemented.
Minister De Silva explained that these measures, combined with reinvesting government capital for urgent maintenance, aim to make the airline more appealing to potential investors. The anticipated proceeds from the divestment, exceeding US$ 500 million, will be utilized to repay state banks, settle outstanding debts, and prioritize employee welfare.
By divesting the airline, the government aims to ensure that the burden does not fall on the taxpayer, drawing attention to the contrast with the past privatization to Emirates airline. During that period, the airline operated profitably with no job cuts, but mismanagement and corruption after government takeover led to substantial debt, necessitating regular taxpayer-funded support.
March 06, Colombo (LNW): The Cabinet of Ministers has granted approval to Education Minister Susil Premajayantha’s proposal to raise the budget for a student’s meal in the ‘School Food Programme’ to Rs. 110. Furthermore, the program is set to be extended to cover 170 days in 2024, specifically targeting students in the primary sections.
The ‘School Food Programme’ currently operates in 7,902 schools across 100 educational zones, benefiting approximately 1.08 million students. The allocated budget for a daily meal for one student is Rs. 85.
A committee of officers investigating the matter has reported that the increased budget to Rs. 110 is necessary due to price fluctuations affecting the cost of providing a nutritious meal for a child. In response to this, the Save the Children organization has pledged support by providing three food items to 200,000 students in 917 selected schools under the ‘School Food Programme’ for the year 2024.
March 06, Colombo (LNW): Showers may occur at a few places in Southern province and in Ratnapura and Kalutara districts in the evening or night. Mainly dry weather will prevail in the other areas of the island.
Misty conditions can be expected at some places in Western and Sabaragamuwa provinces and in Galle and Matara districts during the morning.
March 05, Colombo (LNW): The government has instilled business confidence in Sri Lanka by maintaining a single digit inflation rate, said State Finance Minister, Shehan Semasinghe.
He said that this was at around 70% last year and prudent and systematic steps were taken to reduce it gradually. This is expected to be retained fewer than 5% throughout the year.
In its March edition, leading business magazine LMD reports that “the gauge of corporate sentiment remains steady, albeit that it is way short of its all-time average.”
LMD notes, “The LMD-PEPPERCUBE Business Confidence Index (BCI) continues to be lacklustre… but steady; it has remained in the 81-85 range for three successive months.
“In February, the index registered a one basis point dip to 81, which is a massive 42 notches shy of its all-time average (123) although compared to 12 months ago (63), the barometer has in fact gained 18 points,”
It notes that PepperCube Consultants attributes the dip in the index to the impact of the VAT hike, “There is a degree of buoyancy regarding the investment climate and expectations about maintaining sales volumes have remained relatively unchanged over the past four weeks – this despite the marginal drop in optimism regarding the economy over the next 12 months.”
LMD says that “the BCI is unlikely to gain any substantial ground at least until there’s clarity on the timing and conduct of one more election this year.”
A spokesperson for LMD explains, “As we said last month, the index is unlikely to gain any substantial ground at least until there’s clarity on the timing and conduct of one more election this year.”
She cites the President’s Media Division’s recent text alert that “the presidential election will be held within the mandated period and according to the current timeline, general elections will be held next year.”
LMD’s publisher, Media Services, says the latest edition of the magazine will be released shortly. Its digital version has been shared on the publisher’s social media platforms (the full BCI report will be uploaded on its website – www.LMD.lk).
State finance Minister Semasinghe also said that government revenue is increasing and there is also a sharp increase of new tax payers.
“The total number of registered taxpayers in 2019 was 1,705,233. It decreased to 677,613 in 2020 due to various precedent decisions.”
“In 2021, it was 507,085. We have succeeded in raising the number of tax files from 437,547 in 2022 to one million. Also, the state’s income will be Rs. 3110 billion in 2023.”
He predicted that Sri Lanka’s economic growth will be 1.7% in the third quarter of 2023. Accordingly, the overall economic growth in 2023 will be around -3%.“But it should also be said that the overall economic growth in 2022 was -11%.”
March 05, Colombo (LNW): The SLT Group’s financial results for the fourth quarter and financial year ending December 31, 2023, reflects a downturn in performance amidst a turbulent macro-economic environment in the country.
For 4Q 2023, SLT Group reported a year-on-year consolidated revenue degrowth of 7.5% amounting to LKR 26 billion compared to LKR 28 billion in 2022.
The Group’s profits decline was attributed to reduced revenue, despite the efforts of cost optimization measures that resulted in a 5.9% reduction in Operating Expenses (Opex).
Consequently, the Group saw a corresponding decline in operating profit, with both Profit Before Tax (PBT) and Profit After Tax (PAT) experiencing decreases in the quarter.
At SLT level, a 3.6% Opex reduction was posted for 4Q 2023 compared to 4Q 2022, attributed mainly to a well-managed cost reduction in staff costs.
Further, SLT saw cost savings in other areas credited due to a reduction in advertising and activation costs, with repair and maintenance costs also decreasing during the latter part of 2023.
However, these savings were outweighed by a fall in the top line and increase in depreciation, driving overall losses.
Overall, in the financial year of 2023, the Group’s operational costs rose by 9.4% to LKR 74 billion compared to LKR 68 billion in 2022, mainly due to increased electricity tariffs.
Additionally, other costs, including, annual maintenance contract costs, vehicle hiring, fuel, and repair costs, contributed to the overall cost increase year-on-year.
Furthermore, over the twelve-month period of 2023, the Group experienced a loss of LKR 3.9 billion, contrasting sharply with the profit of LKR 4.8 billion recorded in 2022, reflecting a staggering decline of 182.3%.
Similarly, SLT and Mobitel individually reported losses of LKR 1.1 billion and LKR 3.6 billion for the year, respectively.
Additionally, the Group’s revenue experienced a marginal degrowth of 1.2%, amounting to LKR 106.4 billion, compared to the revenue of LKR 107.7 billion in the financial year of 2022.
Offering a positive trend compared to 3Q 2023, the Group recorded a 13.2% reduction in Opex from 3Q to 4Q and a decrease in net losses from LKR 1.5 billion in 3Q to LKR 1.2 billion in 4Q.
Moreover, the Group recorded an operating profit of LKR 549 million in 3Q 2023, followed by a surge to LKR 1.2 billion in 4Q 2023, indicating optimistic future forecasts.
Despite the performance decline over previous year, Mobitel showed a 3% growth in revenue and improvement in profitability parameters in the second half of 2023 over the first half of the year. The EBITDA reported a 9% growth and operating loss have reduced by 54% during the period as a result of company’s top line growth and cost optimization efforts.
