Category: Featured Headlines

The Sri Lankan Rupee (LKR) has depreciated against the US Dollar (USD) today for the third consecutive day, according to the Central Bank.

Accordingly, today’s buying rate of USD is Rs. 327.59 while the selling rate is Rs. 344.66.

The Rupee has been appreciating against the USD and other major currencies since earlier this month, but the Rupee continue to depreciate against the USD since last Friday.

Yesterday’s buying rate of USD was Rs. 319.84 while the selling rate was Rs. 335.68.

Former Minister Wimal Weerawansa thrashed SLPP MP Namal Rajapaksa calling him a broiler chicken who was pumped up without any experience or political knowledge.

Weerawansa speaking at a rally in Hambantota said Namal was playing cricket with a group of SLPP MPs while the people were suffering.

“He is just like Ranil. He still has not learned anything. It is reasonable that people get angry. He never learns. He is a prematurely grown broiler chicken,” he said.

He said the nepotism has been the downfall of the country and the Rajapaksa family.

“They were planning to field Yoshitha Rajapaksa in Badulla District at the last General election. It is Dullas Alahhapperuma, who implored Gotabaya Rajapaksa to stop it,” he said.

Hindus in the Vanni district are opposing a planned destruction of a rock they have dedicated to God Ganesh.

They have been making post-harvest offerings to a stone pillar at Puvarasankulam in Vavuniya, which had gone missing and a statue of God Ganesh is in place since.

Now, the divisional secretary has given approval to an outsider to start a quarry there to excavate for granite.

Following protests by the people, DS N. Kamaladasan and Pradeshiya Sabha chairman T. Yogarasa visited the place on March 08.

DS Kamaladasan promised to raise the matter with the Archaeology Department and the Environment Authority.

The Election Commission (EC) has sought more than Rs. 60 million from the Treasury for overtime payment of its staff so far this year, according to ‘Mawbima’.

As per a document referred to the Finance Ministry for approval, the EC’s recurrent expenditure stands at more than Rs. 90 million.

These also include casual payments, payments for retirees recalled for service, holiday pay and utility bill payments.

A ministry spokesman said that despite funds being allocated from 2023 budget, releasing funds will be difficult in view of the financial issues.

The President had issued an extraordinary gazette notification (2323/02) declaring the postal service an essential public service.

According to the gazette notification, the President had taken the decision, considering it necessary that the services provided by any public corporation, government department, local authority, or Government Department or Local Authority or Co-operative Society or any branch thereof, being a Department or Corporation or Local Authority or Co-operative Society, which is engaged in provision of the service specified in the Schedule hereto, is essential to the life of the community and is likely to be impeded or interrupted.

China’s Sinopec has pledged to invest in Sri Lanka’s southern district of Hambantota at a meeting with the island nation’s president, Ranil Wickremesinghe, the President’s Media Division (PMD) said.

The move comes as Beijing is looking to consolidate investments in the island nation’s ports and energy sector amid increasing security concerns raised by the island nation’s immediate neighbour India and the United States.

Wickremesinghe under the previous government has leased the $1.5 billion port built by Beijing to state-owned Chinese firms on a 99-year lease. China’s plans to establish a 15,00o-acre industrial zone around the port has yet to materialize.

The PMD said a discussion took place between the representatives of the Sinopec Group and President Wickremesinghe on Monday (13).

“President Ranil Wickremesinghe said that the government has taken a principled decision to expand the distribution of fuel & Hambantota has been identified as a primary energy hub,” the PMD said in a statement.

“Sinopec has also pledged to invest in a refinery in Hambantota.”

Sri Lanka has urged India to develop the energy hub of South Asia in the Eastern port district of Trincomalee. The state-run India Oil Corporation (IOC) has already signed a joint venture with the state-owned Ceylon Petroleum Corporation (CPC) to develop the island nation’s only oil tank farm in Trincomalee.

The meeting with the Sinopec officials comes 10 days after President Wickremesinghe directed the petroleum minister and officials to swiftly carry out a plan to revive the Trincomalee oil tank farm and incorporate it into the country’s economy after an inspection tour of the Lanka Indian Oil Company (LIOC) oil tank farm in Trincomalee.

Sinopec, also known as China Petrochemical Corporation, is the largest refining company and the third largest chemical company in the world. It is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China.

Its total number of gas stations ranks second place in the world. It ranked 5th on Fortune’s Global 500 List in 2021.

China’s aggressive lending to Sri Lanka along with investments of billions of dollars has raised concerns of a plan to establish a military base in Hambantota.

Beijing has denied such a plan and said its move with Colombo has been always commercial.

The West led by the US has blamed China’s aggressive lending as a “debt trap” which has led Sri Lanka to face an unprecedented economic crisis amid sovereign debt default. However, both China and Sri Lanka have denied the “debt trap” accusation.

China, instead, had blamed Sri Lanka’s sovereign borrowing, which was mostly from the Western countries, as the debt trap and reason for the crisis.