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DDR, long-term sustainability & corruption

Jul 1 (DM) Govt plans for restructuring of the domestic debt are now out in the open and have been approved by the Cabinet of ministers. One is left wondering why the matter is being put to a vote in parliament, given that the issue is not a budgetary issue and does not need parliamentary approval. Whatever the outcome, with or without amendments, the implementation of the measures to reconstruct the domestic debt will come into force. Whether the proposed measures to reconstruct more..

Let’s empower the Poor

Jul 1 (CT) As Sri Lankans we always talk about our rich heritage, our rich traditions and culture, and our rich natural environment. Yet, a significant percentage of our country’s people are poor and destitute. Every day, we hear stories of children going to school hungry, parents foregoing meals to provide at least some food for their children, parents being forced to choose between educating their children and feeding them. It is no secret that the Covid-induced economic collapse more..

Govt to kick off Domestic Debt Optimisation from this week

Jul 1 (CT) Prez Ranil Wickremesinghe, who returned to the country after ending his Europe tour, was unable to enjoy any respite due to being forced to complete the process of domestic debt restructuring. While being overseas, he had conveyed his instructions to the relevant Ministers and officials on how to undertake that task. He was constantly in touch with CBSL Governor Dr. Nandalal Weerasinghe and Treasury Secy more..

Would Aswesuma become an Eswesuma (Eyewash)?

Jul 1 (DM) The Chairman of the Welfare Benefit Board (WBB) that handles the project, N. Wijayaratne speaking during a recent interview said that around 3.7 million individuals had applied for the benefits under the project. Nevertheless, the number of families that are to receive payments under four categories of the project is around 2 million, according to a statement posted on the website of the Presidential Secretariat. Therefore, hopes of 1.7 million families - more..

Institutionalised disrepair

Jul 1 (FT) If you divert your attention to the UN website, Mattias Desmet points out, you discover that they recruited more than 100,000 digital first responders during the corona crisis so called. The UN head of global communications, Melissa Fleming, made it unambiguous. The aim of this horde of responders was to detect and neutralise ‘misinformation.’ They were there to take on fake news as they deemed it, and were to respond with immediate accurate, reliable, information more..

'Tourism industry in Rs 600B debt to banks'

Jul 1 (CT) The Tourism industry owes banks over Rs 600 billion and although banks are willing to lend, many stakeholders are hesitant to take on more debt due to their existing financial burdens, revealed SL Tourism Development Chairman Priantha Fernando said. Q: What is your reaction to the statement that the tourism industry experienced a sharp decline starting with Easter bombings, followed by Covid-19 pandemic, more..

Call for a new political force in Sri Lanka

Jul 1 (FT) With SL facing economic hardships and a loss of faith in traditional political parties, it is evident that the time has come for a new political force to emerge and reshape the country’s political landscape. The prevailing culture of nepotism, cronyism, and a lack of internal democracy within mainstream parties has left the public disillusioned and yearning for change. The major political parties, such as the SLPP, SJB & UNP, have long been plagued by accusations of favouritism more..

This debt, that debt, and other debt

Jul 1 (ST) Two weeks ago, quoting the Finance Ministry, the Business Times reported that the Govt has absorbed billions of dollars of borrowed money by state enterprises following the standstill of external public debt servicing. The news report further stated that state-owned utilities and public sector services including energy, petroleum, water, transportation, etc have been provided to the public at below cost recovery prices for a long time. In doing so for a long time – perhaps, for more..

'පොහොට්ටුවට ආයෙ එන්ඩ බෑ, ඒක පැහැදිලියි...'

In landmark judgment CA orders Law College to admit law graduate

Jul 1 (FT) In a landmark judgement, the Court of Appeal ordered the Principal of the SL Law College to admit a Law graduate from the University of Colombo whose application to the College had been rejected on the grounds that he did not have a credit pass at the GCE O/L examination for the Sinhala language. The Petitioner, Mohamed Razie Lafir of Colombo 5 who had applied in Sept 2020, to SL Law College to obtain the Attorney-at-Law qualification had his application rejected more..

Editorial: A historic moment

Jul 1 (Island) Parliament is scheduled to take up for debate the govt’s domestic debt restructuring (DDR) plan today and vote on it. Parliamentary debates in this country are devoid of proper discussion, analysis and evaluation of bills, resolutions and other issues, for the ruling party MPs and their Opposition counterparts tend to view them only in a binary form—whether any political mileage could be gained from them or not. This sorry state of affairs leaves no room for a collective or consensual more..

Conductorless buses the way forward?

Jul 1 (CT) Generations of travellers have grown up with the concept of needing a ticket as transportation options have long been a necessary component of daily life. However, as technology has improved, it is now possible to utilise a proper ticketing system, which has major benefits for both passengers and the operators of transportation systems. Although based on some reliable facts, recent media attention on flaws in ticketing more..

Business confidence remains muted

Jul 1 (FT) “Biz confidence remains muted as the pros and cons on the economic front even out,” leading business magazine LMD reported, in its forthcoming July edition. It reported: “LMD-NielsenIQ Business Confidence Index (BCI) gained a mere one basis point in June to register 103.” LMD added: “If one were to be thankful for small mercies, the barometer has gained ground from a year ago when the index plummeted to under 50 (49 to be precise) and is nearly 20 notches more..

'32% of households sold their assets to live'

Jul 1 (FT) The latest research study done by LIRNEAsia in a representative sample across 10,000 households in 400 GN divisions and a qualitative study of 400 people across 13 districts has revealed the challenging reality of a SL household said Rohantha Athukorala who was the keynote speaker at the recently concluded Smart Consumer webinar conducted by Samsung SL and the CCC. “There are almost 7 million people who slipped to the poverty belt more..

Unilever Sri Lanka signs MoU with National Youth Services Council

Jul 1 (FT) Unilever Sri Lanka, in its commitment to fostering economic growth and empowering young individuals, has joined hands with the National Youth Services Council to launch an island-wide career development program. This initiative aims to create job opportunities and cultivate future-fit careers in Sales and Marketing for the youth, ultimately contributing to the country’s economy. With the objective of enabling SL youth to have a purposeful and future fit career in Sri Lanka, more..

ඉස්සරහට පාරෙ මැරෙන අයගේ නම් ටික මෙන්න

SMEs disappointed with Govt. failure to provide debt relief

Jul 1 (FT) SLUNBA Chairperson Tania Abeysundara expressed her disappointment at the Govt’s failure to provide debt relief to local businesses struggling due to the ongoing economic crisis. “We requested our debt to be restructured. We asked to be given a grace period for repayments,” she said. “We simply requested the Govt to consider our challenges with compassion and to establish a supportive environment that allows us to rebuild our businesses,” she further added. more..

6,000 jobs at risk if SriLankan isn’t immediately restructured: Minister

Jul 1 (SM) Addressing a press briefing Minister Nimal Siripala de Silva expressed concerns about the potential loss of jobs for approximately 6,000 employees at SriLankan Airlines if immediate restructuring measures are not implemented. The minister emphasized that the govt cannot sustain the financial losses incurred by SriLankan Airlines and it would be unfair to continue using taxpayer funds in this manner. more..

Dedicated clinics needed at state hospitals to treat dementia in seniors

Jul 1 (ST) Families now rely on social media to search for their elderly parents or grandparents who have wandered far from home. The family of Karunawathie Sandanayake are desperately searching for their 84-year-old loved one who has been missing for over a month. They reported to police, checked CCTV footage to find her whereabouts, put up posters and visited wards in nearby state hospitals, relatives, temples and meheni aramayas but have received more..

Official Facebook page of Govt Information Dept. hacked

Jul 1 (AD) The official Facebook page of the Dept of Govt Information (DGI) has been hacked this afternoon (30). The relevant technical and legal actions are being sought in order to restore the Facebook page, the DGI said in a statement. It also noted that official communication of updates on govt information and news through this page has temporarily been suspended as a result. The dept expressed its regret for the inconvenience caused to the general public owing to the situation. more..

Chief monk claims he did everything to heal abused tusker

Jul 1 (ST) Aluthgama Kande Viharaya Chief Incumbent, Ven KokkavitaWipulasara Nayaka Thera, who is the custodian of Sak Surin (named Muthu Raja after it was gifted to SL) due to be airlifted to Thailand for treatment, expects the return of the animal after it is cured. He said that an agreement has been signed with the Thai Ambassador that the tusker would be sent to Thailand for medical treatment under more..

Vish wishes for united vision for Sri Lanka, as Chamber terms comes to close

Jul 1 (FT) Ceylon Chamber of Commerce Chairman Vish Govindasamy said Sri Lanka is at a very crucial point of its economic journey, and the private sector must stand strong with the Govt to emerge from the challenges before us. He intimated the private sector must support progressive policies and shift from seeking short-term profits through lobbying to more long-term evidence-based policy-led measures that will benefit industries and the people of this country. Govindasamy, who ends his tenure as more..

Kerr and Devine tons lead New Zealand fightback to draw level

Jul 1 (CI) After a loss in the first ODI, New Zealand fought back with vengeance in the second via centuries from Amelia Kerr and Sophie Devine to beat SL by 116 runs and draw level in the three-match series in Galle. Kerr and Devine added 229 for the third wicket, the third-most for NZ for any wicket and the best in a women's ODI in SL. While Kerr scored 108, Devine finished with 137 off just 121 balls, hitting 17 fours - the joint-most by a batter in an ODI innings in SL - and two sixes. more..

මේවාට ඉතාලිකාරයොත් හොල්මං ඇති…

Construction Power & Energy Expo 2023 brings multitude of industries under one roof

Jul 1 (FT) Construction Power & Energy Expo 2023 is not just an exhibition, it’s a dynamic platform that promises a multitude of solutions for visitors from various industries. Scheduled for 7 to 9 July at BMICH in Colombo, this highly anticipated event is set to showcase the latest innovations, products, and services across the power, energy, construction, housing, interior, and building materials sectors. This event is organised by Lanka Exhibition & Conference Services Ltd. (LECS), more..

Army captain, two others arrested with T-56, two pistols over killing of whistleblower

Jul 1 (Island) More than 600 STF personnel had been deployed to combat crime in Western & Southern Provinces, SSP NIhal Thalduwa said. STF personnel had been deployed for mobile roadblocks, search operations and to arrest armed underworld members. He added that there had been many violent crimes in the two provinces in recent times and those involved in crimes were often former members of the security forces. Police, on Thursday night, arrested an Army captain & two others more..

SL survive Edwards scare to defend 213

Jul 1 (CI) SL survived an almighty scare as they scraped past Netherlands by 21 runs to kickstart their Super Six campaign on a nervy but winning note. It was a victory built on the back of a career-best 93 from Dhananjaya de Silva and a backs-against-the-wall bowling effort led by the excellent Maheesh Theekshana, who picked 3 for 31. But every inch of this win was contested by a persistent Netherlands outfit, more..

Killer Whale Aquatics clinch six Gold Medals

Jul 1 (DN) On Day Three of the National Swimming Championships held at the Sugathadasa Stadium Swimming Complex, Killer Whale Aquatics’ (KWA) women's 200m Medley Relay team put on an outstanding performance, breaking the national record by over five seconds. The relay team consisted of Ganga Seneviratne (BK), Ramudi Samarakoon (BR), Minuri Bartholomeusz (FL), and Akithmi Wasalathanthri (FR) secured the gold medal with a time of 2:04.07, more..

German Lanka project to impart renewable energy technology to youth

Jul 1 (DN) German-Lanka Institute of Climate Technologies plans to set up a climate technology training institute in SL shortly. This was discussed in detail with PM Dinesh Gunawardena when a team from the proposed Institution, headed by Germany’s SunFarming Group AG Chairman, Peter Schrum. Schrum explained to the PM that the German-Lanka Institute of Climate Technologies is a capacity builder and a technology-transfer-platform for sustainable climate-friendly technologies more..

හිරු ටීවී පත්තරේ විස්තරේ

Ceypetco revises fuel prices

Jul 1 (AD) Ceypetco has revised fuel prices with effect from midnight on Friday (30). Following the price revision, Petrol 92 Octane will be sold for Rs. 328 per litre. This is an increase of Rs. 10 from the current rate. Meanwhile, the price of Petrol 95 Octane has gone down by Rs. 20 per litre to Rs. 365. According to Ceypetco, the price of Auto Diesel now stands at Rs. 308 per litre following a reduction of Rs. 2. Super Diesel price per litre, however, went up by Rs. 6 to Rs. 346. more..

SJB to vote against DDR

Jul 1 (FT) SJB MP S.M. Marikkar this week announced the main Opposition party’s decision to vote against the proposal to restructure domestic debt in Parliament. Marikkar said the SJB will oppose the proposal as the Employees Provident Fund (EPF) will be affected by the process. “The Govt’s actions contradict the earlier statements made by the Minister of State for Finance and the Governor of the Central Bank, who claimed that domestic debt restructuring would not occur. more..

Private sector commends govt for protecting banking system amidst DDO

Jul 1 (FT) The country’s private sector on Thursday commended the Prez and the Govt for protecting the banking system whilst pursuing Domestic Debt Optimisation (DDO). The commendation came from heads of the CCC, SL Banks Association and Joint Apparel Association Forum during a meeting convened by Prez Ranil Wickremesinghe. According to a statement from the Prez’s Media Office, more..

Broadcasters reject Govt. proposal for Broadcast Media Regulator

Jul 1 (FT) Broadcaster’s Guild of SL demanded the Govt promptly retract the proposed draft for the establishment of a Broadcasting Regulatory Commission. After being consulted on the document prepared by the Cabinet sub-committee comprising Ministers Dr. Wijeyadasa Rajapakshe, Dr. Bandula Gunawardena, Manusha Nanayakkara, and Keheliya Rambukwella, the association conveyed their objections in writing to the Media, Transport & Highways Minister Bandula Gunawardena. more..

Official reserves increase to USD 3.5 billion; Rupee appreciates by 17.6% in 2023

Jul 1 (NR) SL’s official foreign reserves have increased to USD 3.5 billion. Central Bank of SL said the increase was mainly due to the receipt of USD 350 million from the Asian Development Bank as well as significant net purchases from the domestic foreign exchange market by the Central Bank during the month of May. CB purchased USD 663 million from the domestic foreign exchange market on gross basis during the month of May. CBSL said these notable purchases were a result of more..

Opposition to vote against debt restructuring plan

Jul 1 (Island) Most opposition political parties vowed to defeat the govt’s proposed debt restructuring plan when Parliament convenes today at 9.30 a.m. Secretary General of the Parliament, Kushani Rohanadeera said she informed all Members about the meeting, according to the instructions of Speaker Mahinda Yapa Abeywardena. Speaker has also issued a Gazette Extraordinary on 27 June announcing more..

Power to the people

Jul 2 (SO) Amid the raging debate over the Domestic Debt Optimisation (DDO) process, many media outlets did not give due prominence to one important news item that emerged on Friday. This concerned the electricity tariffs, which were raised drastically a few months ago in a cost recovery exercise. CEB, the country’s power monopoly, had said that it was losing heavily in terms of every unit of electricity produced and consumed. According to the CEB, it was to recover this cost more..

The future of Samasamajism

Jul 2 (CT) For a start I divide the history of Samasamajism, the story of the Samasamaja movement as whole, not just the Party, into four periods centred on the last century. We are entering a fifth Period which will encompass Samasamajism’s Twenty-first Century. The first Phase of the classical period is associated with NM’s name, though it actually goes back to Phillip’s participation in the Spanish Civil War. Classical Period was imbued with a revolutionary ideology and ended in 1964 more..

'No effect on EPF-ETF and bank deposits'

Jul 2 (SO) Domestic Debt Restructuring (DDR) will not pose any risks to provident funds or bank deposits, State Minister Ranjith Siyambalapitiya said. “The current discussions involve proposing a deferment of around US$ 17 billion of the nearly US$ 30 billion debt for five years. Additionally, there are deliberations regarding a potential debt write-off as part of the overall debt management strategy. Given the current circumstances, more..

Racism and us

Jul 2 (SO) Has the UN failed? It would be a ludicrous question, most would think. UN evolved from the League of Nations at a time the world was recovering from the repercussions of World War carnage. How could anyone suggest UN has failed when World War has been avoided, and there has been no atom bomb attack since Hiroshima and Nagasaki? How can anyone say that UN has failed when there have been organisations such as UNDP assisting the developing world and more..