Mar 22 (FT) Freight Masters Int'l Ltd. Managing Director Dimuth Chankama Silva has been appointed as the new Chamber of Young Lankan Entrepreneurs (COYLE) Chairman at the 23rd AGM held recently. He succeeds Saranga Goonewardena. Post-AGM-gala held at the Shangri-La Hotel saw the presence of PM Rajapaksa as the Chief Guest. Several Ministers, State Ministers, MPs, Secretaries, Govt officials, diplomatic community, and COYLE members attended the event. more..

Mar 22 (FT) In a bid to support local industry and navigate a way through the current crisis, the Govt could consider approving new locally manufactured medical products even without proper registration over a period of six months and up to one year, remarked State Minister Prof. Channa Jayasumana. He added the local pharmaceutical manufacturing industry had maintained good quality standards with medicines for over a decade, and this could help support such a decision should the industry more..

Mar 22 (TM) High Commissioner of China to SL Qi Zhenhong has urged Sri Lanka not to suddenly cancel projects which are awarded through a transparent bidding process, referring to the cancellation of an energy project awarded to China in the Northern Province last year, as it erodes confidence in SL among Chinese investors. High Commissioner Zhenhong was responding to a question about what SL can do to improve more..

Mar 22 (AD) The driver of Energy Minister Gamini Lokuge’s security vehicle has reportedly been murdered by a group of individuals who had attacked him with clubs and a sharp object over personal dispute. The deceased is a 41-year-old father of two and a resident of Gammanawatta in Mawittara, Kesbewa. The victim had initially warned a youth who had been riding a motorcycle at high speeds in front of his home to reduce his speed. Angered by this, the youth in question more..

Mar 22 (CT) Electricity charges could be increased by 500%, as per a proposal by the CEB, State Minister Dayasiri Jayasekara said. He said, he has received information from internal sources that the CEB is considering a proposal to increase the 30 unit electricity price range by 500%. He said a time has come where the public cannot use electric appliances. “This situation has arisen due to the Covid-19 pandemic, which has plagued the country for two years, as well as the war between more..

Mar 22 (AD) Malwathu and Asgiri Mahanayake Theras have presented a letter to Prez Rajapaksa highlighting the importance of convening an all-party conference of local and foreign scholars to formulate a plan for sustainable development, and 13 other issues. The letter sent to the Prez was signed by Malwathu Mahanayake Most Ven. Thibbatuwawe Sri Sumangala Thera and Asgiri Mahanayake Most Ven. Warakagoda more..

Mar 22 (FT) In its first meeting with Prez Rajapaksa, the Advisory Committee appointed to assist the National Economic Council (NEC) made five recommendations that need to be implemented immediately. The members of the Advisory Committee presented these five-point proposals when they met for the first time yesterday. The proposals include; 1. Immediate appointment of a Technical Team consisting of officials representing the Central Bank and the Treasury to more..

Mar 22 (DM) UNP Leader Ranil Wickremesinghe will participate in the All Party Conference (APC), the party’s Assistant Leader Akila Viraj Kariyawasam said today. “Our party decided that the leader should participate in the APC as we see it as a forum to resolve the crisis which the country is facing today,” Kariyawasam said. “Also we might be blamed for missing an opportunity to put a collective effort to pull the nation through from the crisis,” he added. Asked about the decision made by more..

Mar 22 (FT) China is actively considering a new request for $ 2.5 billion ($ 1 billion financing facility and $ 1.5 billion buyers’ credit) from the Govt of SL, Chinese Ambassador to SL Qi Zhenhong said. “China understands the urgent need of SL and its people. Relevant authorities in China are promptly studying the request,” Ambassador told journalists at a press briefing coordinated by SL-China Journalists Forum. more..

Mar 22 (FT) The key macroeconomic indicators reveal the extent of the economic crisis facing SL. Indicators in all areas of the economy are at their worst level in recent years and in some cases at levels never seen in the post-independence history of this country. Growth was negative in 2020 and continued in negative territory in the third quarter of 2021. This was obviously partly due to the pandemic and the measures taken to curtail its spread. However, growth in SL continues to remain more..

Mar 22 (FT) Data protection is considered an esoteric subject, but affects the entirety of the modern economy, ranging from a home-based cake supplier who maintains a list of customers, their preferences and contacts, to a multinational insurance company. SL being the first South Asian country to enact data protection legislation and the pervasive effects of data protection, the bill deserved more discussion. It is unfortunate that the scrutiny it received was limited, for the most part, more..

Mar 22 (AD) The main suspect involved in the murder of the driver of Energy Minister Gamini Lokuge has been arrested in the area of Kalubowila. According to the police, the suspect is currently receiving medical care at the emergency treatment unit of the Colombo South Teaching Hospital in Kalubowila under police protection. In the meantime, the suspect’s father and the brother have been placed under arrest after they surrendered to the police. A knife, sword, two smashed more..

Mar 22 (CT) Fertiliser will be imported in the next 26 days from the Chinese company, Qingdao Seawin where organic fertiliser was previously rejected on the basis that it was contaminated, State Minister Shasheendra Rajapaksa said. He added the Chinese company made a few proposals with regard to fertiliser availability after the initial batch was rejected and one such proposal was rejected on the grounds of soil unsuitability, following which two other proposals were considered. more..

Mar 22 (AD) Supreme Court has informed Speaker Mahinda Yapa Abeywardena that the Surcharge Tax Bill can be passed with a simple majority in parliament as it is in accordance with the Constitution. This was conveyed by Deputy Speaker Ranjith Siyambalapitiya during today’s parliamentary session. “I wish to announce to Parliament that I have received the determination of the SC in respect of the Bill entitled Surcharge Tax more..

Mar 22 (EN) Cabinet of ministers had given clearance to create a digital identity for every citizen backed by Indian finance, despite the existence of a national identity card for every citizen for decades. India is giving a grant for the digital identity project. SL activists had previously gone to court against the creation of digital database of citizens with family tree and other data saying it will give the island’s authoritative govt unlimited powers to track citizens and invade their privacy. more..

Mar 22 (AD) The Court of Appeal has issued an order directing the Land Commissioner General not to follow the circular issued on transferring the administration of non-protected forests, known as other state forests (OSF), which were under the Dept of Forest Conservation, to the respective Divisional Secretaries. The Court of Appeal judge-bench comprising Justices Sobhitha Rajakaruna and Dhammika Ganepola, issued the directive after deciding to take up for hearing a writ petition more..

Mar 22 (Island) An investigation would be carried out into the allegation that Rs. 300 million was asked for to submit an Environmental Impact Assessment Report (EIA) for a dairy farm, Environment Minister Mahinda Amaraweera said. Minister Amaraweera said so in response to Agriculture Minister Mahindananda Aluthgamage’s recent allegation that the Ministry of Environment had asked for as much as more..

Mar 22 (FT) Thinking big on the growing cloud security industry, ICC Hall of Famer, global cricket consultant and serial venture capitalist Mahela Jayawardene has co-founded Dygisec, a next-gen technology company focused on cloud security compliance. Jayawardene has teamed up with Chandita Samaranayake and Stefano Harding, two industry experts with over 25 years of experience at global technology companies including Google, Oracle, IBM, Microsoft and Virtusa. more..

Mar 22 (Island) Power cuts could go on for more than seven months and if the country did not get sufficient rains by May, the situation would be disastrous, especially in the Southern part of the country, CEB officials said yesterday. “We are having a shortage of between 400MW and 500MW on a daily basis,” an official said, adding that meeting the shortfall was not easy. Though coal stocks were available for the moment, new shipments had not been added to the stocks and it should be more..

Mar 22 (EN) SL Federation for Health Professionals (SLFHP) on Tuesday warned of more island wide trade union action if the ministry of health continues to ignore their demands. Trade unions in the state health sector have repeatedly engaged in strikes over the past few months amid a pandemic over several unresolved issues including salary anomalies and promotions. In early March, after several discussions held with the minister of Health, the SLFHP temporarily postponed the strikes, more..

Mar 22 (Island) Minister Johnston Fernando yesterday laid foundation stones for three new bridges one across Bentara river at Ittepana and Horawala and others across the Madu Ganga at Balapitiya in keeping with a pledge made by Prez Rajapaksa. Ministry of Highways has said the bridge to be constructed across the Madu River will be 330.5 metres in length and 4.8 metres in width. The second bridge to be constructed across the same river will be 49.55 metres in length and more..

Mar 22 (FT) Ceylon Institute of Builders (CIOB) said in a statement that the construction industry is unable to sustain itself due to the dollar shortage, rupee depreciation, and rising raw material prices. CIOB Chairman Dr. Rohan Karunaratne said the construction industry has struggled in the past due to the COVID-19 epidemic and rising raw material prices. In its statement, CIOB also listed some of the pressing issues. more..

Mar 22 (AD) TNA will attend the All-Party Conference scheduled for tomorrow, MP M.A. Sumanthiran says. The conference, mooted by the SLFP to seek solutions for the ongoing economic crisis, will kick off under the patronage of Prez Rajapaksa. All political parties representing the parliament have been informed in writing to attend the conference. However, SJB led by Opposition Leader Sajith Premadasa and MP Anura Kumara Dissanayake’s NPP have decided to boycott more..

Mar 22 (Island) Sri Lanka should turn to Asian countries with some of the biggest dollar reserves in the world to promote its exports, Chairman of the Communist Party of SL (CPSL), DEW Gunasekera said. “Seven out of the 10 countries that have the biggest dollar reserves are Asian. China alone has a 500 million strong middle class. We have not tapped these Asian markets,” he said. The CP stalwart said that the Chinese-funded Belt and Road Initiative (BRI) was the biggest investment drive more..

Mar 22 (TM) Telecommunications Regulatory Commission of SL (TRCSL) is currently considering an increment of tariffs imposed on telecom services. A source within TRCSL disclosed: “Currently we are considering amending the tariff structure imposed on telecom services.” The source refused to provide any specifics on the exact increase in tariffs which is being proposed, stating that such details are still being discussed and more..

Mar 22 (CT) Govt did not accept nor execute suggestions and opinions presented to them for the betterment of the country, General Secretary of the CWC State Minister Jeevan Thondaman said, adding that even the request to roll back the hasty decision on using organic fertiliser was ignored. He said, the Govt is still following short-term plans and it will not help resolve the current crises. “Long-term and solid decisions need to be taken to rebuild the country from its current state,” he said. more..

Mar 22 (DM) Former Energy Minister Udaya Gammanpila has resigned from the post of Chairman of the Seethawaka Regional Coordinating Committee with immediate effect. He has tendered his letter of resignation to Prez Rajapaksa today. "I would like to thank you for appointing me as the Chairman of the Seethawaka Regional Coordinating Committee. "Since I have been removed from the post of Minister of Energy, it is inappropriate to remain in the above post which is more..

Mar 22 (CT) Negombo Chief Magistrate yesterday, ruled that millionaire Negombo businessman and the owner of Meepura Tyre Centre, had died of natural causes. Hence, death of 58-year-old Shalinda Fernando, a resident of No. 222, Colombo Road, Negombo, which occurred on 4 Oct, two years ago, was deemed as having taken place due to natural causes by the Court. The post-mortem of the deceased was conducted at the Negombo Hospital and it was determined that an abscess more..

Mar 22 (CT) A proposal will be submitted to Cabinet to set a control price for rice to prevent monopolists being benefitted by fluctuating rice prices, Minister Mahindananda Aluthgamage said. He said, monopolists are attempting to continuously increase the price of rice, adding that State rice stocks will be released to the market on 1 April at a low price for the Sinhala and Tamil New Year. While the control price of rice is yet to be decided, the price of Nadu rice will likely be set at Rs 140 to Rs 145. more..

Mar 22 (TM) The Under Secretary for Political Affairs of the U.S. Department of State Victoria Nuland arrived in Sri Lanka a short while ago today (22). Under Secretary Nuland oversees regional and bilateral policy issues at the U.S. Department of State. During the visit, Under Secretary Nuland is scheduled to call on Prez Rajapaksa, meet Foreign Minister G.L. Peiris and Foreign Secretary Jayanath Colombage. more..

Mar 22 (EN) Military personnel were deployed to crisis-hit state-run Ceypetco filling stations on Tuesday to monitor and manage fuel distribution after four deaths including a stabbing were reported in fuel queues in under 48 hours. Each filling station will have around two to four military men assigned to it for the supervision of distribution, military spokesman Brigadier Nilantha Premaratna said. "The main purpose is to oversee the distribution of fuel, whether fuel is being distributed fairly more..

Mar 22 (DM) All Island Egg Producers Association (AIEPA) today warned that if the govt doesn't intervene with the poultry industry, it would collapse after April due to escalating production costs after the floating of the rupee, AIEPA Treasurer Wijeya Alwis said. He said that they are finding it difficult to find ingredients for poultry food. One kg of soya, which was at Rs.214 in the local market, has now gone up to Rs.300. The price of one kg of maize has increased from Rs.95 fro Rs.150, and more..

Mar 22 (DM) SJB MP Harin Fernando said that proposed Indian funded Maritime Rescue Coordination Center (MRCC) is to be set up inside the SL Navy Headquarters will threaten SL’s security. He said that a sub-unit will be set up in Hambantota and seven other units will be positioned across the country. Cabinet has approved to establish an MRCC in SL with a grant of US$6 million from India. more..

Mar 22 (EN) Cooking gas shortages in SL will be solved in 7 to 10 days, Minister Ramesh Pathirana said. “The gas issue is being solved at the moment. Letters of credit (LCs) have been issued to clear two gas ships from the port,” minister said. “We are hoping that the gas shortage will be solved in the coming few days.” He said the state-owned Litro Gas which supplies 80% of the cooking gas in the market, is facing a surge in demand. “At the moment is Litro is releasing 100,000 gas cylinders more..

Mar 22 (EN) Sri Lanka is appointing a technical committee to help negotiate with the International Monetary Fund and will also a hire a legal firm to assist with the process, Cabinet spokesman Ramesh Pathirana said. “We have taken a policy decision to go the IMF for which we need a technical committee,” Minister Pathirana said. SL will also hire a legal firm to help, Pathirana said responding to a question from EconomyNext whether a US law firm would be hired for debt restructuring. more..