Author: TELO Admin

Sri Lanka ruling party to continue support for president; no talk of dissolution yet: MP

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The ruling Sri Lanka Podujana Peramuna (SLPP) has decided to support President Ranil Wickremesinghe over the next two years, an SLPP senior said amid speculation that there is division within the party over continued support for the president.

SLPP legislator Mahindananda Aluthgamage told reporters on Sunday July 09 that President Wickremesinghe has so far not said anything about dissolving parliament to call an election.

“As a party, we have decided to support the president in the next two years to rebuild this country,” said Aluthgamage.

The MP, who was Agriculture Minister in ex-President Gotabaya Rajapaksa’s cabinet, said the party made the best decision available to them at the time when it decided to back Wickremesinghe’s bid for the presidency in July 2022.

He added that his personal opinion is that politicians must make sacrifices at a time when the people are making sacrifices in the wake of the country’s worst financial crisis in decades.

“I’m of the position that now is not the time for cabinet portfolios. If people are making sacrifices, so should we,” he said, fielding questions from journalists at a press conference on Sunday.

“Now that debt is being restructured, fuel prices have come down and the country is coming to the right place. So until public confidence rises, we too must make some sacrifices, is my feeling.”

Aluthgamage’s comment comes amid reports that a number of SLPP stalwarts are disappointed that cabinet positions continue to evade them. This is in addition to at least two prominent members of the party being absent from a crucial parliamentary vote on Sri Lanka’s domestic debt restructuring (DDR) programme.

Meanwhile, the United National Party (UNP) headed by President Wickremesinghe, seems quietly confident of a return to form after being nearly annihilated at the last parliamentary election in 2020.

UNP assistant leader Akila Viraj Kariyawasam told a gathering on Sunday that political parties will rally behind Wickremsinghe as part of a UNP-led coalition.

“The dark curse that had fallen on the country is gradually being lifted. Political parties are not coming as one party anymore. They’ll be a UNP-led party,” he said.

Kariyawasam had previously said that Sri Lanka’s next election will likely be a presidential poll, which is due in November 2024, though an early presidential poll has not been ruled out.

Main opposition Samagi Jana Balawegaya (SJB) leader Sajith Premadasa has already welcomed an early presidential election. Premadasa told the SJB Working Committee on May 16 that he intends to form an SJB-led alliance of opposition parties in the event of an early presidential poll, which will require a constitutional amendment.

The SLPP, meanwhile, has seen some fragmentation since the ouster of former president Rajapaksa, with these splinter groups largely ready to throw its weight behind opposition leader Sajith Premadasa.

Sri Lanka’s opposition parties must rally behind a leader they can all agree to support at a future presidential election with the next favourite agreeing to be prime minister in a common workable arrangement, a member of one of the SLPP’s breakaway factions said in June.

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Stalin asks Jaishankar to secure release of fishermen in Sri Lanka

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Tamil Nadu Chief Minister M.K Stalin wrote to Union External Affairs Minister S. Jaishankar asking for his immediate intervention in getting 15 Tamil Nadu fishermen released from Sri Lanka.

“Through diplomatic channels we can reach an amicable resolution that respects the rights and livelihoods of our fishermen even when maintaining friendly bilateral relations between India and Sri Lanka,” Chief Minister’s wrote.

On Sunday, 15 fishermen along with their mechanised boats were arrested by the Sri Lankan Navy from Ramanathapuram in Tamil Nadu.

The Chief Minister wrote that several hundred fishermen are dependent on fishing in deep seas for livelihood and the arrest of these fishermen and confiscating their equipment is creating major difficulties in the coastal areas of the state.

Pertinently, fishermen associations have written letters to the Union government and state government asking to take steps for the release of mechanised fishing boats that are in the custody of the Sri Lankan Navy.

The fishermen associations had in their earlier representations stated that the mechanised boats, which are in Sri Lankan custody, are the main bread winner for the fishermen in the coastal areas of the state.

(IANS)

CBSL decides not to renew permits of 15 money changers

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The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided not to renew the money changing permits of 15 money changers (MCs) in the country for the year 2023.

Issuing a statement in this regard, the CBSL explained that the relevant decision was taken due to the non-compliance with a condition of the permits issued for the year 2022.

Thus, the matter was communicated to the respective MCs on 22 June, and they are thereby no longer permitted to engage in money changing activities, including the buying, selling and exchanging of foreign currency.

CBSL further warned that engaging in such activities with said companies will be considered a contravention of the provisions of the Foreign Exchange Act, No. 12 of 2017.

Below are the 15 MCs of which CBSL has decided not to renew the money changing permits:

Aruna Forexc (Pvt) Ltd (No. 22, New Bazaar Street, Nuwara Eliya)

Brescia Grameen (Private) Limited (No. 88/02, Chilaw Road, Kattuwa, Negombo)

Jeya Forex Exchange (Pvt) Ltd (No. 688, Galle Road, Colombo 03)

Kamal Enterprises (Pvt) Ltd (No. 57A, Bristol Paradise Building, York Street, Colombo 01)

Kudamadu Money Exchange (Pvt) Ltd (Main Road, Mahawewa)

Midna Mini Market (Pvt) Ltd (No. 12, Shopping Complex, Wennappuwa)

New Lanka Gold House (Private) Limited (No. 59, Rathnapura Road, Horana)

Rafeek’s Gems (Pvt) Ltd (No. 109, Chatham Street, Colombo 01)

Rimha Jewellers (Pvt) Ltd (No. 4/A, Masjidh Road, Puttalam)

Salaka Trust Investments (Pvt) Ltd (No. 466, Union Place, Colombo 02)

Sharanga Money Exchange (Pvt) Ltd (No. 157/1, Kasturiyar Road, Jaffna)

Sornam Forex (Private) Limited (No. 59, Batticaloa Road, Kalmunai)

Thamasha Forex (Private) Limited (No. 131, Bazzar Street, Chilaw)

Universal Money Changers (Pvt) Ltd (No. 143A, Galle Road, Colombo 06)

Vasanthas International Money Exchange (Pvt) Ltd (No. 56, D S Senanayake Veediya, Kandy)

Lanka to crackdown on IUU fishing practices to regain GSP+ from the European Union

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Sri Lanka is to enact new legislation to curb Illegal, Unreported and Unregulated (IUU) fishing practices and regulate fisheries resources management as one of the key requirements to regaining the Generalised Scheme of Preferences (GSP+) concessions from the European Union. The move to introduce fresh legislation to eliminate IUU fishing came in the wake of the new GSP Regulation expected to enter into force on January 1, 2024 for the next ten-year cycle.

Countries such as Sri Lanka which were among the beneficiary countries from the EU trade concessions would have a two-year window to reapply to the scheme.

“These bills are to be enacted to meet the EU concessionary requirements that were already communicated to us. One of them–Fisheries Resource Management–is to ensure a sustainable fisheries industry since we noticed our resources have reduced significantly over the years,” Fisheries Minister Douglas Devananda told the Sunday Times.

A fresh bill, published on Wednesday to amend the Fisheries and Aquatic Resources Act, No. 2 of 1996 declared no person would be allowed to engage in IUU fishing activities in Sri Lankan territorial waters or the high seas.

Penalties for those vessels found to be engaged in IUU fishing would be imposed with fines ranging from Rs 50,000 (10.3-15 metres) to Rs 50 million (45 to 75 metres) depending on the length of the boat.

The Fisheries Department Director General would also be armed with powers to cancel or suspend the fishing permits of those vessels found to be engaged in IUU fishing in the country’s waters.

If the bills were not challenged in the Supreme Court within three weeks of their publication, they would be taken up for the Second Reading in the upcoming Parliament sessions, Minister Devavanda said.

Among the matters that were raised at the 25th session of the Joint Commission between Sri Lanka and the European Union held in May at the Foreign Ministry, issues related to IUU fishing were highlighted and cooperation in the framework of the Indian Ocean Tuna Commission (IOTC) were discussed.

Both sides agreed to take follow-up action based on the deliberations of the 25th session, including the identification of a series of action points to make progress on or before the next Joint Commission Meeting in 2024 in Brussels, the Foreign Ministry said in a joint statement following the discussion. The EU also informed that the report of the last EU GSP+ monitoring cycle of 2020-2022 was expected to be released in the coming months as well.

Sri Lanka in talks with China’s AIIB for US$220mn for power sector

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Sri Lanka is discussing 220 million dollars in power sector financing with China’s Asian Infrastructure Investment Bank, Power and Energy Minister Kanchana Wijesekera said following a meeting with the lender and India’s National Thermal Power Corporation.

Sri Lanka’s state-run Ceylon Electricity Board and NPTC is building a 130 MegaWatt joint venture solar farm in Sampur, Trincomalee.

“AIIB officials at the meeting communicated the ability to finance” 200 million dollars for transmission & grid development 20 Million for project development, Minister Wijesekera said in a twitter.com message.

AIIB, set up as a multilateral lender is protected from a sovereign default, along with the World Bank and Asian Development Bank.

Sri Lanka is hoping to complete a default workout by September.

An energy permit for the first phase of the 130MW ground mounted solar park will be also be issued within a week, he said.

Sri Lanka’s President Maithripala Sirisena earlier cancelled 500 MW coal plant in Sampur shortly before equipment was set for international tender, de-stabilizing a generation plan of the agency.

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One year since protesters stormed President’s House in Colombo

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9th July marks one year since protesters stormed the President’s House in Colombo and forced Gotabaya Rajapaksa to announce his resignation.

The protest was part of the ‘Aragalaya’ campaign to remove Rajapaksa from office and push for a system change in local politics.

Thousands of people gathered at Galle Face from all around the country and pushed through military barricades to reach the President’s House in Fort.

Tear-gas and water cannons were fired at the protesters, but people moved in from all sides and the military eventually backed down.

The protesters stormed into the President’s House damaging some of the property and some were also seen swimming in the pool.

Gotabaya Rajapaksa later announced he will resign from office to ensure normalcy returns to the country.

The protesters also took over the Presidential Secretariat, Temple Trees and the Prime Minister’s Office.

The President’s House, Prime Minister’s Office and Temple Trees were later handed over to the Government by the protesters.

President Ranil Wickremesinghe later deployed the military to take back control of the Presidential Secretariat.

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President will visit China in October

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President Ranil Wickremesinghe is set to make an official visit to China in October, his first to that country since becoming the Head of State last year.

According to Government sources his main role will be to look for new investments, reach trade agreements and resume funding for stalled projects. Expediting investments for the Colombo Port Financial City and discussions with the Exim Bank on resuming funding for the Central Expressway–Kadwatha-Mirigama section–would be on the table for discussion during the visit, while looking for new investments around the Hambantota area would be on the priority list, the sources said.

A Chinese investment in a refinery project in Hambantota which was expected to draw funds of US$ four billion was also expected to be discussed and finalised during the visit.

The Terms of Reference for the Establishment of an export oriented petroleum refinery and an associated product processing centre in Hambantota had already been finalised by the Power and Energy Ministry.

Ahead of the President’s visit, the Chinese Foreign Minister was expected to lead a delegation to Sri Lanka.

The visiting Chinese delegation was expected to review the expressway project, the Colombo Port Financial City proposed projects and the investments around the Hambantota area in addition to looking at potential new projects.

Dalai Lama formally accepted request to visit SL – Mahanayaka Thera

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The spiritual leader of Tibet – His holiness Dalai Lama has formally accepted an invitation to visit Sri Lanka, says the most Ven. Waskaduwe Mahindawansa Mahanayake Thera of the Amarapura Sri Sambuddha Shasanodaya Maha Sangha Sabha.

The Thera said this during the ‘Multilingual Scholarly Symposium’ held at the University of Kelaniya on July 06th as a tribute to the spiritual leader. The event also coincided with his holiness’ 88th birthday.

This event was held with the coordination of the University’s Department of Pali and Buddhist Studies, Department of Philosophy and the Department of Sanskrit & Eastern Studies as well as that of the Foundation for Buddhist Brotherhood, International Buddhist Confederation and the Sri Lankan Tibetan Buddhist Brotherhood Society.

According to the Mahanayaka Thera, this invitation was extended in 2022 when His Holiness started his annual visit to Bodh Gaya, where the Mahanayake Thero was also present with a Sri Lankan delegation.

Emphasising the importance of a visit by the Dalai Lama to Sri Lanka, the Mahanayaka Thera pointed out that that such a visit would also mark the arrival of countless Buddhist devotees around the globe which will definitely lead to a revival of tourism as well as foreign investments.

“Damage to Sino-Lanka friendship”

However, in a special interview done with ‘Sri Lanka Mirror’ last January, Mr. Hu Wei, Acting Ambassador of the Chinese Embassy in Colombo, said that a visit by the Dalai Lama could damage the friendship between Sri Lanka and China.

Explaining that the mutual trust between the two countries is based on the ‘One China’ policy, Mr. Hu Wei explained that Jaffna or Kandy is a part of Sri Lanka and Tibet is not an independent country but a part of China.

Mr. Hu Wei had further mentioned that he had discussed this with the Maha Nayaka Theros and monks during his visit to Kandy back then, and was assured that none of them had extended such an invitation.

Meanwhile, during a meeting with his Chinese counterpart – Mr. Qin Gang in Beijing last month, Sri Lankan Foreign Minister – Ali Sabry had assured Sri Lanka’s continuous adherence to the ‘One China’ policy and to build the Belt and Road Initiative.

 

Lankan envoy discusses investment prospects with Federation of Indian Chambers of Commerce and Industry

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Continuing his discussions with senior Indian private sector figures, Sri Lanka’s High Commissioner to India, Milinda Moragoda, held a meeting in New Delhi with Subhrakant Panda, the President of The Federation of Indian Chambers of Commerce and Industry (FICCI). Panda, who is also the Managing Director of Indian Metals & Ferro Alloys Ltd (IMFA), India’s foremost fully integrated producer of value-added ferro chrome, engaged in fruitful discussions with High Commissioner Moragoda.

Panda and the High Commissioner of Sri Lanka discussed a range of issues pertaining to possible cooperation between FICCI, Trade Chambers in Sri Lanka and the Sri Lanka High Commission. The High Commissioner provided Panda with an update on the assistance provided by the Indian Government during the economic crisis. Moreover, he underscored Sri Lanka’s current state of readiness to embrace large-scale investment from India.

Panda shared valuable insights into FICCI’s rich history spanning 96 years, highlighting its vast network that encompasses not only India’s largest companies but also small and medium-sized enterprises (SMEs).

Both parties recognized the significance of targeted sector-specific investments, aiming for greater integration with the Indian economy. It was agreed to engage with Sri Lankan trade chambers and the High Commission to take this initiative further

Sallesh Pathak, Secretary General of FICCI, and Dr. Gunveena Chadda, Assistant Secretary General of FICCI, were present at the meeting. The High Commissioner was accompanied by Sarath Godankanda, Minister Counsellor, and Geshan Dissanayake, First Secretary (Commercial).

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Sri Lanka’s Speaker thanks India, PM Modi for help during financial crisis

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Expressing his gratitude to “trustworthy friend” India for saving Sri Lanka and preventing a “bloodbath” during its unprecedented economic crisis last year, Parliament Speaker Mahinda Yapa Abeywardena has said that not a single nation has extended that kind of assistance to Colombo as done by New Delhi.

Sri Lanka was hit by a catastrophic financial crisis in 2022, the worst since its independence from Britain in 1948, due to a severe paucity of foreign exchange reserves.

As the country struggled, locked in the throes of the crisis, India extended multi-pronged assistance of about USD 4 billion to it last year, through multiple credit lines and currency support, in line with India’s ‘Neighbourhood First’ policy.

In his address at the gala dinner reception hosted for delegates of the Indian Travel Congress here on Friday, Abeywardena said India “saved us” during the financial crisis, otherwise, there would have been “another bloodbath for all of us”.

At the evening reception, he thanked India for the help extended to the cash-strapped nation and recalled the civilisational ties and similarities between the two countries and their cultures.

“Sri Lanka and India are very, very closely interconnected countries, culturally, nationally, and policy-wise, and above all, India has been a very close associate and trustworthy friend of Sri Lanka,” Abeywardena said, adding that when “we were in trouble”, India always helped out.

“And, even this time, today, I heard that India is willing to extend our restructuring of loans for 12 years. Never expected, and never in history, not a single country has extended that kind of assistance,” he said.

He recalled the helping hand lent by India during the period of trouble last year that devastated the Sri Lankan economy, pushing it into a debt crisis.

“I must tell you, during the trouble that we had last year, you (India) saved us, India saved us otherwise, there would have been another bloodbath for all of us. So, that is how India came to help us,” Abeywardena said.

He made the remarks in the presence of the Indian High Commissioner to Sri Lanka, Gopal Baglay, Sri Lanka’s Tourism and Lands Minister Harin Fernando, and other senior officials of the Sri Lankan government.
“Your ambassador here, (is a) very close friend of ours. We love and respect him,” the Speaker said, referring to Baglay.

Later, in an interaction with PTI on the sidelines of the reception, Abeywardena said, “India has always come to aid of Sri Lanka” in times of crises, and laid emphasis on the financial assistance given by New Delhi last year when the island nation was mired in the economic turmoil.

“That helped us survive for six months in the midst of the crisis,” he said “We thank India for the kind gesture, and I also say, thank you, honourable Prime Minister of India (Narendra Modi),” he told PTI.

Noting the similarity between the Indian surname Singh and the Sri Lankan surname Singhe, Abeywardena said, “It shows we are genetically connected to India”.

“That way, India is not a new country to us. It’s part of the ethos of our country, part of our life, part of our heart,” he said, adding, “We are here to receive you, respect you, join with you.” “Together, we (Sri Lanka) can join with you (India), without any difficulty or hesitation, with great trust,” the Speaker said.

In his address, Tourism and Lands Minister Fernando pitched Sri Lanka — Pearl of the Indian Ocean — as a unique destination for India and the rest of the world, saying, “One island nation offers so many different tourist experiences, without travelling far from one location to another.” Meanwhile, several sessions were held on Saturday as part of the three-day 67th Convention of the TAAI (Travel Agents Association of India) which began here on July 6.

The four-day convention of the TAAI which was established in 1951, is being held with the support of the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lankan Association of Inbound Tour Operators (SLAITO).

Source – PTI