Aug 31 (Island) Diesel production at the Sapugaskanda Oil Refinery has dropped by 22% due to the low quality of crude oil imported through Coral Energy Company. Senior CPC officials had repeatedly asked Ministry of Power not to import crude or refined oil through Coral Energy. CPC official said that SL paid a higher amount for Coral Energy than other suppliers. “Minister and the Ministry insist that we pay more because established companies don’t want to work with us. more..

Aug 31 (TM) The manufacturing arm of Abans Group, AB Manufacturing (Pvt) Ltd., declared open a new manufacturing facility in Bandaragama. The objective of the facility is to deliver products of international standards at affordable prices in line with govt’s initiative to encourage local manufacturing. 100,000 square foot facility sprawling over a 5-acre land in Millaniya, Bandaragama, has a manufacturing capacity of 150,000 refrigerator units per single shift per annum. more..

Aug 31 (TM) As a complaint was filed against him with the CID yesterday, Rohitha Rajapaksa, son of former Prez and former PM Rajapaksa, said he has no hidden or unlawful assets and that he is ready to declare all details related to the Sinharaja Green Eco Lodge, which he partly owns, if needed. “I’m prepared to declare all details with the authorities if needed as there are no hidden or unlawful assets of mine. more..

Aug 31 (FT) UNDP in SL together with the Govt yesterday launched the Sri Lanka SDG Investor Map, a market tool to direct private capital to segments where the country’s Sustainable Development Goals and the State’s policy and market opportunity intersect. SL is building pathways to rebuild its economy sustainably with the SDG framework as a guide. The SDG Investor Map will be helpful to channel investments for social and environmental objectives, and more..

Aug 31 (Island) Colombo High Court Judge Aditya Patabendige yesterday served the second bribery or corruption indictment on SLPP Parliamentarian Johnston Fernando. The charge is pertaining to the deployment of CWE employees for political work in 2012. The accused was granted two surety bail of five million rupees each. The accused was ordered to report to the Investigative unit of the CIABOC on the last Sunday of every month. Fernando has been banned from travelling overseas. more..

Aug 31 (Island) Three SL expatriates, as special attendees at an official State of Nevada Democratic Party gathering, in Las Vegas, where U.S. House Speaker Nancy Pelosi was the guest of honour, extended their unreserved gratitude to House Member Dina Titus for taking the leadership to assist SL, in recent months, with food and nutritional requirements, foreign media reports said. Sanje Sedera, Chairman of both SL-America Chamber of Commerce and SL-America Association more..

Aug 31 (DM) The suspension of the importation of raw materials for soft tissue paper products has hit the manufacturers hard and the industry stakeholders have expressed fears of potential closure of factories. The local hygienic soft tissue manufacturing industry raised concerns of an inevitable shortage and eventually the non-availability of tissue paper products in the country, due to the short-sighted decision by the authorities. As the manufacturers will not have access more..

Aug 31 (FT) SJB welcomed the mini-Budget saying it contained several progressive measures, but questioned rollout of reforms given reservations by SLPP. “It is very progressive. We can’t hide behind the fact that we are in the Opposition and call it an absolute empty Budget,” SJB MP Dr. Harsha de Silva said. Noting that the ideas were very positive, he said the matters that needs to be done has been mentioned as urgent measures, particularly more..

Aug 31 (TM) Prez Wickremesinghe, claiming that the country’s progress has been hampered from time to time due to short-sighted economic practices, said that many such setbacks occurred in the name of the citizens, who accepted such policies without any criticism. While presenting the interim Budget 2022 in Parliament, he said that although it is a widespread slogan these days that the country has deteriorated for 74 years after Independence, those who engage in chanting these slogans more..

Aug 31 (AD) A Gazette Extraordinary has been issued by the Consumer Affairs Authority (CAA) imposing several conditions on the import, storing, marketing or selling of 48 items. It has been issue by the Chairman of the CAA as a Special Direction under Section 10(1)(b)(ii) of the CAA Act, No. 9 of 2003. Conditions include that goods demanded by a consumer or any person shall be supplied within a reasonable period and without delay and that the maximum of manufacturing capacity more..

Aug 31 (FT) Prez Ranil Wickremesinghe rolled out sweeping reforms and relief via the mini-Budget to appease crisis-hit vulnerable groups as well as kick-start recovery in the economy. Interim Budget was replete with reforms, especially in the public sector and included mandatory exit by December by all Govt and semi-Govt employees who are over 60 years old, from 65 reducing the retirement age to 60; restructuring of SOEs more..

Aug 31 (FT) Reaching a viable agreement with the IMF and forming an inclusive cabinet are currently the twin urgent priorities of the Govt headed by Prez Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena. On the economic front both President Wickremesinghe and Central Bank Governor Dr. Nandalal Weerasinghe are optimistic about reaching a staff level agreement with the IMF soon. This will be followed by debt re-structuring talks with creditors especially China. more..

Aug 31 (FT) People, organisations, and countries – all get into trouble at some point of their life – avoidable? May be. At times it’s their own doing but other times, it’s external factors and we are sitting ducks. When problems strike, we go into crisis mode, but we cannot operate in crisis mode forever. We need to start the rebuilding process, and we need to be clever about it. As someone says, never let a crisis go waste! There are so many interpretations and remedies suggested by more..

Aug 31 (DM) Prez Ranil Wickremesinghe today denied reports which said a sum of Rs. 400 million has been allocated out of state funds to renovate the residence of Former PM Mahinda Rajapaksa. The President was responding to an allegation raised by SJB MP Rohana Bandara in the House today. “We have not spent either Rs. 400 million or just four rupees to renovate the residence of Mr. Rajapaksa. Nevertheless, we are legally bound to look after former Presidents and their widows,” more..

Aug 31 (DM) Prez Wickremesinghe’s policy direction in the budget is correct but whether it can be implemented while working with a party with opposite ideas, SJB MP Harsha de Silva said. “This is the direction of the economic policy of Prez,” he said. “We are not against this plan. “This is what Bangladesh is doing. This is what Vietnam is doing.” SLPP had consistently opposed all measures aimed to develop SL. However, analysts say both countries had long periods of monetary stability. more..

Aug 31 (Reuters) Sri Lanka and the IMF have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said. The debt-laden island nation had sought up to $3 billion from the global lender as it struggles with its worst economic crisis in more than seven decades. Sri Lankans have faced acute shortages more..

Aug 31 (AD) Two persons who were transporting about 10kg and 400g of crystal methamphetamine (‘Ice’) in Mannar area have been apprehended by SL Army today. The suspects and the contraband were taken into custody during a search at an army roadblock en route to Vankalai from Talaimannar. It is reported that the apprehended drugs are worth approximately Rs. 150 million. The suspects are found to be the residents of Mannar and Talaimannar areas, aged 32 and 34 years. more..

Aug 31 (CT) Mannar residents staged a protest on 29 Aug demanding that the construction of wind power canals and wind power plants in the Mannar lagoon and sand mining be halted immediately. Local businesses closed in solidarity with the protest and demonstrators marched from the city to the Mannar DS. Fishermen, re-settlers, civic organisations, religious leaders and political representatives also took part in the protest march. The protesters say that various foreign more..

Aug 31 (EN) Ten years after its construction began and after an apparent false start in 2019, Sri Lanka’s Chinese-built 104-million-dollar Lotus Tower, dubbed South Asia’s tallest structure, will commence operations on Sept 15, the president’s office said. A statement from the PMD said on Wednesday (31) that the Colombo Lotus Tower Private Company is engaged in negotiations with 58 investment companies and more..

Aug 31 (EN) DMC has issued warning of possible floods and landslides after the most parts of the island recorded over 150mm rainfall. People living in the hill country and near river basins are requested to be vigilant with showers or thundershowers expected in the Western, Sabaragamuwa, Central, North-western and Northern provinces as well as in Galle, Matara and Anuradhapura districts. General public is advised to take precautionary measures against strong winds and lightning. more..

Aug 31 (ANI) Ahead of the do-or-die clash against Bangladesh in the Asia Cup 2022, SL bowler Bhanuka Rajapaksa said they are looking forward to playing against India and Pakistan in the Super 4. Mohammad Nabi-led Afghanistan outplayed Sri Lanka in all three departments of the game to register an eight-wicket victory in the opening game of the Asia Cup 2022 at the Dubai Int'l Cricket Stadium on Saturday. SL will battle it out with Bangladesh in match number 5 more..

Aug 31 (EN) SL missed foreign direct investments (FDI) due to the failure of state-owned entities in putting forward planned and structures projects for investors to consider, a top Board of Investment official said. BOI, Director General Renuka Weerakone said such failure has been the major reason for not attracting investors to bring in FDIs to the country. “In my experience I have come across many instance even during my foreign missions where possible investors, most of them asked more..

Aug 31 (AD) The STF has arrested two suspects including Kudu Batti alias Kudu Rejina, a leading member of the drug syndicate of the notorious organized criminal gang member Nadun Chinthaka Wickramaratne infamously known as Harak Kata. They have been arrested at the Kotte Road in Rajagiriya while in possession of 51g and 600mg of heroin worth more than Rs. 1.5 million. The apprehension was made based on a tip-off received by the Organized Crimes Prevention Unit more..

Aug 31 (AD) A group of 13 MPs from SLPP has decided to sit independently on opposition benches in the parliament. This was announced by SLPP MP Prof. G.L. Peiris during the parliamentary session which commenced at 9.30 a.m. this morning. Accordingly, MPs Prof. G.L. Peiris, Dullas Alahapperuma, Prof. Channa Jayasumana, Prof. Charitha Herath, Dr. Nalaka Godahewa, Prof. Gunapala Rathnasekara, Dilan Perera, more..

Aug 31 (EN) SL’s inflation in the 12- months to Aug 2022 accelerated to 64.3% in August from 60.8% in July, the state statistics office said. The widely watched Colombo Consumer Price Index grew 2.5% during the month to 235.8 points from 230.1 points. Food price rose 93.7% in the 12-months to August. SL’s inflation galloped after two years of money printing and a collapse of the currency. The central bank has since allowed market rates to go to around 30%, reducing credit and outflows. more..

Aug 31 (AD) Applications to enroll students to state universities for the academic year 2021-2022 will be called from Sept 5 onwards. Chairperson of UGC, Prof. Sampath Amaratunge says that the qualified applicants have been granted a period of three weeks to submit the applications, until Sept 23. He also mentioned that the applicants can contact Govt Information Centre, which is operative 24 hours a day, via the 1919 hotline for any issue pertaining to the online application submission procedure. more..

Aug 31 (TM) SJB Leader Sajith Premadasa expressed doubts about the statistics presented by the President Ranil Wickremesinghe concerning the population affected by the economic crisis, while the JVP-led NPP claimed that the Interim Budget will not provide relief to the people. “We cannot agree on the statistics presented regarding the number of people facing extreme economic hardships in the island because more..

Aug 31 (DM) The govt today assured that the group of university students who were arrested yesterday during a protest would not be dealt with Prevention of Terrorism Act (PTA). PM Dinesh Gunawardena gave this assurance in response to a question raised by Opposition Leader Sajith Premadasa. Opposition Leader said a group of 25 uni students of the Inter University Student Federation (IUSF) have been arrested during a protest and questioned as to whether they would be detained under PTA. more..

Aug 31 (AD) Additional Solicitor General Nerin Pulle today (Aug 31), appearing on behalf of the Attorney General, informed the Supreme Court that there is no change in the govt’s policy decision to not carry out the death penalty in Sri Lanka. This was conveyed when fundamental rights (FR) petitions filed by four death row inmates, who were convicted of drug charges, challenging the decision taken by former President Maithripala Sirisena in 2019 to execute their death sentences. more..

Aug 31 (EN) SL’s recent ban on imports should be reversed as it would hurt small businesses which are already badly hit and create distortions in the economy and should be addressed by tigher monetary and fiscal policy, Advocata Institute, Colombo-based think tank said. “The proposed import ban will put a significant number of businesses that are dependent on imports in a difficult situation,” statement said. “The most crucial impact will be on Micro, Small & Medium more..

Aug 31 (ADB) Asian Development Bank (ADB) approved a $200 million emergency assistance loan for SL, with funds repurposed from other ongoing ADB projects, to improve food security and protect the livelihoods of the poor and vulnerable, especially women and children. “Food insecurity has severely affected the people of SL amid the current economic difficulties. This assistance will expand direct financial support for the poor and vulnerable, boost livelihood development activities more..

Aug 31 (CT) Global Tamil Forum (GTF), a Tamil diaspora organisation, claimed that SL authorities failed to provide an explanation why they were banned twice and why the ban has been lifted now. The ban on GTF was first lifted in 2015 and they were again banned in 2021 before it was lifted a few weeks ago by the Ministry of Defence on the order of Prez Ranil Wickremesinghe. GTF Spokesperson Suren Surendiran claimed more..

Aug 31 (TM) Members of the clergy, civil activists, and trade unions (TUs) handed over a petition to the Human Rights Commission of SL (HRCSL) yesterday over the failure of law enforcement authorities to apprehend and prosecute those responsible for the violence against protestors on 9 May and the misuse of the provisions of the Prevention of Terrorism (Temporary Provisions) Act as amended (PTA) to arrest and detain persons who have been involved in anti-Govt protests. more..

Aug 31 (PTI) Poorly-directed freebies may wreak havoc with state finances and have adverse consequences on the economy as in the case of SL, experts say while noting it is important to define a freebie and how it is different from welfare expenditure. Recently, Supreme Court said freebies at the cost of taxpayers' money may push the country towards imminent bankruptcy. Economic think tank ICRIER Chairman Pramod Bhasin said, "Most freebies (unless at a time of huge more..

Aug 31 (FT) SJB proposed a dole or a Govt allowance be provided to the lower income classes affected by the recent electricity tariff hike. Proposing the measure, SJB MP S.M. Marikkar said: “The underprivileged and lower income classes cannot bear the hike along with the water tariff hike as their income will not increase. We, therefore, propose a dole be given out.” According to Marikkar, when hiking tariffs, more..