Mar 26 (TM) Ranil Wickremesinghe Govt received a much-sought-for reprieve last week following the official announcement of the IMF of granting an EFF to Sri Lanka and the allocation of the first tranche of the $ 2.9 billion facility to the Govt. It was ironic to see reports of Sri Lanka’s improved standing in the Happiness Index the same week as the IMF announcement on SL. The World Happiness Report 2023 released on Monday more..

Mar 26 (CT) On 20 March, the IMF announced a $3 billion bailout (over 4 years) for Sri Lanka. However, this deal is nowhere near enough to solve the deep crisis that Sri Lanka faces. Despite declaring bankruptcy, the Sri Lankan govt continues to promise to pay back its massive debt (over $35 billion). Parts of the repayment have only been temporarily suspended by lenders. The government may need to spend much more than what the IMF had offered each year just to service its debt. more..

Mar 27 (DM) Live telecast of adjournment debate on the Prez’s statement on IMF, was different. It signified a paradigm shift in the stance taken by a few in the opposition. The approach by some SJB juniors, especially, the usual critical comments on Ranil’s acquisition of presidency was either absent or left to the leaders to make; through somewhat confessionary or praiseworthy speeches on President’s achievements they implied their willingness to corporate with former leader. more..

Mar 27 (TM) Prez Ranil Wickremesinghe remains determined to pass in Parliament what he referred to as the best anti-corruption act in South Asia soon. Wickremesinghe revealed that Cabinet approval for the relevant Bill has already been granted, adding that he will discuss it with representatives of the Opposition before presenting it to the Parliament. Prez’s statement comes in a context where SL is initiating a number of reforms, including those pertaining to public sector expenditure, more..

Mar 27 (Island) There is no bigger lie than the oft-repeated claim in some quarters that the 21st Amendment has helped strengthen democracy by ridding vital state institutions of dirty politics. Perhaps, the doormat at the entrance to the Prez’s Office receives better treatment than the supposedly independent Election Commission (EC), which suffers many indignities at the hands of some govt politicians. PM Dinesh Gunawardena was economical with the truth, which he also more..

Mar 27 (FT) Renowned global management consulting firm McKinsey is urging SL to use the strategic geographic location effectively and benefit from India’s rise whilst following best practices of successful emerging economies. “If the Indian century comes through, whoever is related to that will have benefits,” emphasises McKinsey Senior Partner Chair of Insights and Ecosystems Sven Smit who is also the Chair of more..

Mar 27 (FT) National Chamber of Exporters of SL (NCE) in a statement this week applauded the initiatives taken by the country and its people in securing the EFF from the IMF. NCE also applauded the leaders who initiated the responsibility of rebuilding the country after the chaos that it underwent from April last year. NCE thanked the Prez and the Govt for succeeding in this process of getting the approval for this IMF loan and the people amidst numerous hardships, bearing more..

Mar 27 (FT) Prez Ranil Wickremesinghe on Friday articulated his vision for SL and on-going efforts to bring stability followed by socio-economic growth during an interview organised by Harvard University on Friday, through Zoom technology. He also said that SL’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflict. Prez also highlighted the rising competition between China and the Quad, which has been further aggravated by more..

Mar 27 (CT) Each year, Sri Lanka loses a large number of precious human lives due to traffic accidents. Although accidents occur without premeditation, they are preventable to a great extent if proper road safety measures and driving protocols are adopted. A great majority of road accidents in SL are related to motorbikes. According to research conducted by Uni of Moratuwa, considering about 30% of SL’s road traffic consists of motorbikes, the fact that a majority of fatal accidents more..

Mar 27 (DN) I always train hard before and during the tour which paved the way for my success said SL bowling all rounder Chamika Karunaratne after the first ODI at Auckland. Actually we can beat Kiwis in the next two matches but have to put up a better batting display under the guidence of coach Chris Silverwood said Chamika who recorded his best bowling figures of 4 for 34 in his nine over spell. I think we bowled and fielded very well but gave a poor batting performances in the first ODI more..

Mar 27 (ST) IMF has indicated the possibility of the Govt being able to revise some of the taxes that have been imposed as part of the staff-level agreement with SL once the programme comes up for review in six months. IMF officials conveyed this to representatives of trade unions during a virtual roundtable held on Friday. The virtual meeting was held on the initiative of the IMF. The IMF had initially reached out to GMOA, CTU and more..

Mar 27 (Island) Saturday was a disaster at Eden Park in Auckland, that iconic sports venue that has been hosting Test cricket since 1930. There have been two ICC Cricket World Cup semi-finals there and a Rugby World Cup final. Eden Park is the MCG of NZ. SL team put up one of the worst batting performances in the history getting bowled out for 76 to lose by a massive 198 runs. Remember in the last ODI that the national cricket team featured in they were shot out for 73 runs at Trivandrum more..

Mar 27 (ST) The Royal-Thomian big match is known for tumbling records for anything and everything. Be it the action or generation of grandfathers-fathers-sons-brothers playing. But with this year’s winning edition, a rich and rare record entered the record books. In an unmatched, and an unlikely to be emulated family feat, the Ramanayake brother’s – Hashen, Himesh and Sandesh – played and won for the Royal College in three different teams. The win was all recorded within a 10-year period more..

Mar 27 (FT) The all-important export sector is awaiting urgent relief from higher authorities following the Shipping Minister arbitrarily revoking a Gazette on 28 February which was introduced after two consecutive Budget proposals in 2012 and 2013 to eliminate anti-competitive practices by service providers by distorting transport costs adding surcharges on exports and imports by unbundling freight to avoid market forces. more..

Mar 27 (ST) Plantations workers are becoming rarity on the estates as a result of which the authorities are drawing plans to provide technical skills training to youth seeking jobs as an additional income. The Plantation Ministry and the National Youth Services Council (NYSC) are working together to attract more youth to be trained to work on the estates as part of a plan to provide an additional income for the youth and to help the estates to find the necessary labour required. more..

Mar 27 (Island) There are three most important priorities for SL in the wake of the IMF Programme; implementation, implementation and implementation of the agreed upon benchmarks of the programme. Last thing we need to suddenly find is that we have gone off the track of the programme and it is suspended, Dr. Indrajit Coomaraswamy, Former Governor, CB said. He said so while giving the keynote speech at a webinar titled What is next for SL in the wake of IMF Programme? more..

Mar 27 (EN) A swap with the People Bank of China is to be extended for another three years from 2024, according to documents released with the approval of a deal with the IMF. “…[T]he PBoC has indicated that it will consider renewing its swap arrangement with the CBSL in 2024 for another three years, if there is no significant situation change,” according to program documents. According to projections in the IMF program, a US$ 200 million swap with the Bangladesh is expected to be repaid in 2023. more..

Mar 27 (DN) Pasindu Sooriyabandara (59 in 89 balls with 3 fours) and Pathum Kumara (57in 69 balls with 4 fours) hit half centuries as Galle recorded a thrilling one wicket win with five balls to spare against Jaffna in their National Super League One day cricket fixture played at R. Premadasa Stadium yesterday. Jaffna scored 245 for 7 wickets in their 50 overs with Ron Chandragupta (57) and Lahiru Madushanka (48) playing useful knocks. Meanwhile all rounder Ashan Priyanjan had fine figures more..

Mar 27 (TM) The IMF has informed a group of local trade union representatives on Friday that the fund will not oppose changes to the tax system in future if new measures do not harm the given tax revenue target. The IMF has stressed that it does not interfere in matters such as taxes with regard to the amounts to be collected, from whom, and the relevant percentages. The fund had invited trade unions, including the GMOA, CTU, and more..

Mar 27 (Island) Outgoing President of the BAR Association of SL (BASL) Saliya Peiris, PC has urged his colleagues to continue their struggle to counter threats to the rule of law and judicial independence. “The BASL was able to play a pivotal role in the nation’s struggle to safeguard the rule of law, democracy, and human rights. In doing so, we were together able to make our profession relevant to the lives of the people and help enhance its credibility and public acceptance,” more..

Mar 27 (FT) Indian Oil Corporation Ltd. (IOC) Chairman Shrikant Madhav Vaidya visited Sri Lanka along with Energy Delegation from India comprising Secretary, Ministry of Petroleum and Natural Gas, India Pankaj Jain, JS/OSD (International Cooperation), Esha Shrivastava, CMDs of many leading energy corporates in India and held numerous high-level meetings with Govt of SL on exploring the areas of common interests between India and Sri Lanka in the energy sector. more..

Mar 27 (FT) Both SJB and NPP tried to prevent SL from obtaining IMF assistance through foreign diplomatic offices on the island, a govt minister alleged. "Leaders of NPP and SJB met heads of foreign diplomatic heads in this country and informed them to prevent SL from obtaining IMF assistance. However, the diplomatic heads turned these requests down," Minister of Urban Development and Chief Govt Whip Prasanna Ranatunga said during the opening of more..

Mar 27 (EN) Sri Lanka’s new Chairman of the Securities and Exchange Commission, Faizal Salieh has called for self-governance and responsible action from market intermediaries to build investor trust and confidence. Stock brokers are the front liners in the market who engage with clients directly and therefore should act with due responsibility in advising clients and trading on the Exchange and the “market grow by doing the right thing the right way,” he was quoted as saying at a meeting. more..

Mar 27 (TM) Chief Opposition Whip and SJB MP Lakshman Kiriella said on Friday (24) that they would ask the IMF to reveal on what grounds they assured that the present Govt would be capable of implementing the expected reforms. Speaking at Parliament, he said that it shows how the IMF has also changed its stance on Sri Lanka which was taken by them earlier. “The IMF mission to SL said previously that this country needs a Govt more..

Mar 27 (TM) The Elections Commission (EC) has yesterday requested a meeting with the PM Dinesh Gunawardena to discuss the situation which has arisen with regard to the Local Govt (LG) elections. A spokesman for the EC, when contacted, said that the EC had requested Gunawardena for a meeting to discuss matters pertaining to the LG elections, including the procurement of necessary funds and the possibility of paying salaries to public servants who are contesting the LG elections. more..

Mar 27 (Island) People’s Action for Free and Fair Elections (PAFFREL) says the govt is trying to appoint a special committee to run the local govt institutions.PAFFREL Executive Director Rohana Hettiarachchi said the govt move would create a situation where the local govt bodies would be under the Executive President. “Election monitors hope that the issue will be taken up at the forthcoming meeting between the National Election Commission members and PM Dinesh Gunawardena,” more..

Mar 27 (CT) Minister Nimal Siripala de Silva said the first ferry line, of the new ferry service, to be operated between Karaikal Port in Puducherry, India and Kankesanturai (KKS), is scheduled to call at the KKS Port on 29 April. Minister disclosed this information at a discussion, with the stakeholders of this new ferry service, held recently. A passenger terminal was built at the KKS Port as part of infrastructure development for ferry service. more..

Mar 27 (FT) Last week, Sri Lankans were jubilant over the approval of an extended fund facility of some $ 3 billion by IMF to help the country to overcome the chronic as well as the acute balance of payments crisis which it faces now. The conditions which the SL Govt has agreed to receive this facility are now in public domain. Prior to receiving it, the Govt has met 9 pre-conditions. There are 37 more conditions which the Govt has promised to meet over the next four-and-a-half-year period to more..

Mar 27 (FT) The Sri Lankan crisis cannot be separated from the international crisis both in economic and political terms. This is a warning for the political leaders to resolve their differences and conflicts in an amicable manner. Holding (or not holding) of Local Government elections and the newly introduced Advance Personal Income Tax (APIT) regime are the main fighting issues between the main political parties and their trade unions at present. While there are only nine recognised more..

Mar 27 (AD) A woman has been attacked to death with sharp weapons in the Netolpitiya area of Weli Ara in Tangalle Police Division this morning. The Police Media Division revealed that the 30-year-old victim, R.M. Deepashika, was employed as an Agricultural Development Assistant in the same area. The deceased, who works in the same area where she resides, had been attacked with a sharp weapon by a resident of that area, while she was on the way to field duty this morning. more..

Mar 27 (DM) SL could not be developed by selling state property or obtaining loans anymore as the country had practiced the same strategy for the last three to four decades without any success, NPP leader Anura Kumara Dissanayake said. He said if Prez Ranil Wickremesinghe was to develop the country by obtaining loans, he could have done that during 2015 and 2019 when he obtained US$12.5 billion as loans. “He is getting only US$2.9 billion from the IMF for four years this time. more..

Mar 27 (EN) Cabinet has granted approval for three oil companies from China, the US, and Australia in collaboration with Shell Pl to lease 150 fuel station for each company to operate in local market, Minister of Energy Kanchana Wijesekera said. “Cabinet approval was granted to award licenses to Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in SL,” more..

Mar 27 (CI) Realistically, Sri Lanka's chances of automatic qualification for this year's ODI World Cup are remote. If South Africa win their two ODIs against Netherlands, they will have 98 Super League points, which will be a tally out of Sri Lanka's reach. The most likely course of events is that Sri Lanka will have to play the qualifiers in Zimbabwe in June and July this year. For much of this Super League cycle, they have played like a side that does not deserve automatic qualification. more..

Mar 27 (FT) DP Education on Saturday announced plans to set up a satellite campus at each of the 331 DS Divisions within three years encompassing 165,000 students. On Saturday, DP Education opened the first DP Coding School and DP Coding and Robotics Campus affiliated in Nuwara Eliya. The opening at Sri Seethavanarama, Badulla Road, Katuwana, Nuwara Eliya were following a successful pilot of 14 schools in Kataragama, Sella Kataragama, Tissamaharama, Debarawewa, more..

Mar 27 (TL) Nearly half of the govt’s salary bill has to be allotted for members of the police and the three armed forces, a survey has revealed. Out of a total annual requirement of Rs. 694,910 million, as much as Rs. 339,400, or 48.8%, has to be paid to them. Prof of economics Wasantha Athukorale led the survey, assisted by Prof. Prasanna Perera and Dr. Nandasiri Kihimbiyahetti. Out of nearly 1.6 mil workers in state sector, more..