Author: TELO Admin

Sri Lankan Prime Minister Dinesh Gunawardena said that Sri Lanka needs the support of China to upgrade it’s industries.

Speaking to China’s CGTN, Prim Minister Gunawardena said that despite the country’s great geographical advantages, Sri Lanka would remain confined to traditional industries such as tea, rubber and coconut without the help and support of China.

“We are the last important island south of India in the Indian Ocean. We’re on the maritime lanes between Africa, Arabia and East Asia. So many thousands of different shipping lanes, traders, business enterprises shuttle across and anchor in Sri Lanka. So Sri Lanka has been historically an important place for all these countries. We must take off to a new stage of development,” stressed the Prime Minister.

He added that Sri Lanka has had the support of China to create new areas of development. “Otherwise we are on traditional areas like Tea, Rubber and Coconut. The COVID caused a serious setback in Sri Lanka’s economy followed by the economic crisis and slowdown in the World,” said the Prime Minister.

The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing.

The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable.

Eligibility for concessional resources among the developing member countries of ADB is based on gross national income per capita and creditworthiness.

ADB’s decision was considered based on a request from the Government of Sri Lanka in view of the severe and unprecedented economic crisis that has reversed hard-won development gains.

“ADB is committed to further enhancing its support for the people of Sri Lanka as the country responds to this deep crisis that has severely undermined their livelihoods and well-being,” said ADB Director General for South Asia Kenichi Yokoyama.

“The availability of concessional assistance will help Sri Lanka to lay the foundation for economic recovery and sustained, inclusive growth” added Kenichi Yokoyama.

Sri Lanka is now eligible for ADB support including concessional and market-based financing, technical assistance, policy advice, and knowledge solutions that together comprise a comprehensive suite of options to address the crisis. Access to concessional financing will also ease debt servicing pressures through more favorable lending terms.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members 49 from the region.

The National Peoples Power (NPP) staged a protest near the Elections Commission demanding the holding of the Local Government (LG) elections.

Several people attended the protest staged near the Elections Commission.

A number of MPs and other senior members of the NPP attended the protest.

Meanwhile, a large number of Police officers were also seen near the Elections Commission during the protest.

The Local Government elections was postponed indefinitely in April this year owing to the unavailability of sufficient funds.

The election had been postponed to 25th April this year but the Election Commission later said that it had been postponed again with no new date in mind.

The government has signed an agreement with United States based RM Parks Inc. in collaboration with Shell PLC for a long-term contract to enter the Sri Lanka petroleum business today.

The contract agreement was signed at the Presidential Secretariat for the importation, storage, distribution and sale of petroleum products in Sri Lanka.

The agreement was signed following the recommendations of the Cabinet appointed Special Committee.

Power and Energy Minister Kanchana Wijesekera said RM Parks will be the 4th supplier to enter the domestic market and they will operate under the Shell branding.

They signed a 20-year agreement to import, distribute & sell petroleum products through 150 fuel stations allocated from Ceylon Petroleum Corporation (CPC).

The Minister said approval was also granted for 50 new fuel stations to be established islandwide.

They will upgrade the fuel stations with new automated dispensers, electric charge stations, mini markets and cafes, he said.

State Minister of Finance Ranjith Siyambalapitiya has confirmed that import restrictions on 300 products will be lifted by the weekend.

Speaking in Parliament, State Minister Siyambalapitiya said accordingly the number of items subject to import restrictions will be reduced to 1,216.

The State Minister said the government was compelled to take difficult and unpopular decision due to the economic crisis.

He noted that the public is now gradually reaping the rewards of those decisions. State Minister Siyambalapitiya also acknowledged that small- and medium-scale enterprises were affected due to import restrictions.

He said now the restrictions are being eased gradually while steps have also been taken to reduce interest rates.

The State Minister noted that such measures will help economic activity.

Since its resumption of international scheduled flight operations between Jaffna and Chennai after the global pandemic, Alliance Air completed its 100th flight to Jaffna International Airport (JIA) today,

Alliance Air, a wholly owned subsidiary of Air India Asset Holdings Pvt Ltd. (AIAHL), recommenced commercial flight operations from Chennai International Airport (MAA) to JIA on December 12, 2022.

At present, the airline operates four scheduled international flights a week, and is planning to increase its frequency to daily operations between Jaffna and Chennai.

Up to date in 2023 the airline has handled approximately 12,000 passengers through the Northern Gateway. The Airport & Aviation Services (SL) Limited (AASL) ground handling team has provided all ground handling services for these flights, ensuring a smooth and efficient experience for all passengers.

Considering the growing demand for air travel from the northern part of the country, Alliance Air tapped that potential, and with the support of the governments of India and Sri Lanka, this direct flight operation between Jaffna and Chennai will enormously boost the tourism industry of Sri Lanka, especially in the Northern Province, offering better connectivity to all South Indian destinations.