India and Sri Lanka two sides of the same coin, must forge ahead together –President

Sri Lankan President Ranil Wickremesinghe on Monday (15) said that history has brought India and Sri Lanka together like two sides of the same coin and the two countries must forge ahead together.

The President made this comment during an event to hand over a Dornier 228 Reconnaissance aircraft to Sri Lanka by India.

The President called for both countries to commit to further strengthening their relationship as India and Sri Lanka share many commonalities and the two countries have to build on it.

Addressing the gathering, President Wickremesinghe emphasized on the importance of ties between the two countries.

“I have always said that we are two sides of a single coin. It is not possible to split a coin for one face to fall one way and the other face to fall the other way. For whatever it is, history has put us together and we have to stay together. What is this relationship? I haven’t got a word for it, but the closest I could come is the symbiotic relationship between the two countries. We are both marking our 75th anniversaries. I say let us commit ourselves to further strengthening our relationships,” he said.

The first ever Dornier Reconnaissance Aircraft from India to enhance the maritime surveillance capabilities of Sri Lanka was inducted to Sri Lanka Air Force Fleet today (15th August 2022) in a ceremonial procession.

President Ranil Wickremesinghe was welcomed at the Sri Lanka Air Force Base in Katunayake by Air Force Commander Air Marshal Sudharshana Pathirana. The President was also accorded a special Guard of Honour by the Air Force troops.

Giving a word of advice to aspiring politicians in Sri Lanka, the President said, “My word of advice to rising politicians and those who aspire for higher office, is get to know your Indian colleagues, get to know them well and get to deal with them because if you do not do that, it will be difficult for you to look at issues and understand what each other says. We have common viewpoints in many areas. We are but a small country in the middle of the ocean, while India, while looking after its own interests must also look at its role as a global power. But it is essential that we speak to them. After all India is our closest neighbor and there are many issues that are common to us of which we are understanding, of which we have to resolve. Not only issues pertaining to Indo-Lanka relations but to the region and to the world. So in these areas it is possible for us, and it has been on many occasions for us to come to an agreement or have a similar viewpoint with India. It is with those that we consolidate.”

Congratulating India on its 75th Anniversary of independence, President Wickremesinghe noted, “India today is becoming a world power and it is still on the rise and by the mid-century when we are no longer there, you could see a powerful India playing a dominant role on the global stage.”

Sri Lanka Freedom Party yet to decide on joining all-party govt

The Sri Lanka Freedom Party (SLFP) is willing to support an all-party government through parliamentary committees but no decision has been made yet on taking up cabinet positions, SLFP general secretary Dayasiri Jayasekara said.

“We will support an all-party government as was proposed by President Ranil Wickremesinghe, but we are not willing to take any positions in the government,” said Jayasekara, speaking to EconomyNext on Monday August 15.

“We are actually discussing this within the party, and we will arrive at a firm decision on it,” he said, adding that the party plans to meet on Monday to discuss the matter.

President Wickremesinghe has invited all parties represented in parliament to come together to form an all-party government to push reforms needed to steer Sri Lanka out of its worst economic crisis in 74 years of independence.

The president has already held discussions with party leaders on several occasions and a number of parties have agreed to form an all-party government subject to conditions while others have declined the offer. The main opposition Samagi Jana Balavegaya (SJB) has said it will extend its support through parliamentary committees.

Opposition and SJB leader Sajith Premadasa earlier this month said the SJB has agreed to work through ‘an empowered system of parliamentary committees’.

“Held far reaching discussions with the president together with my team. Agreed to work through an empowered system of parliamentary committees. Positive about joining forces for the sake of the country. Shall do so without ministerial positions, perks and privileges,” he said.

The SLFP general secretary, meanwhile, said his party does not wish to collaborate with familiar faces accused of corruption and calls for new faces to represent the government.

“We can’t work with the former corrupt leaders in the future. We ask for a system to get some new faces removing the old ones,” he said.

“We will support the government through committees like the SJB, but there is no decision on taking positions yet.”

SLFP seniors Nimal SIripala de Silva and Mahinda Amaraweera disobeyed a party decision to not join the government when they opted to take up cabinet positions in the Wickremesinghe administration. Asked for comment on this, Jayasekara said both ministers are still party members, but the SLFP will go ahead with disciplinary action as previously warned.

Posted in Uncategorized

Power cut duration to be extended?

The duration of daily power interruptions is likely to be extended to nearly three hours from tomorrow (Aug 16), the Ceylon Electricity Board (CEB) says.

The CEB said it is compelled to take this decision as the national grid lost 270 megawatts of electricity due to the breakdown of Unit 1 at the Lakvijaya Power Plant in Norochcholai.

Despite the situation, no changes have been made to the rolling power cut duration scheduled for the day. Accordingly, the power supply will be interrupted for one hour and 20 minutes today.

Earlier this morning, Power & Energy Minister Kanchana Wijesekera announced that Unit 1 of the Norochcholai Power Plant has suffered a breakdown and the technical staff members are working to identify the fault.

According to the CEB, at least two weeks are required to restore operations of Unit 1.

Meanwhile, due to the essential maintenance work of Unit 2, the national grid has lost another 270 megawatts of electricity. Accordingly, only Unit 3 is operative at the moment.

Owing to the situation, the West Coast Power and other fuel power plants will be used to manage the power supply for the time being, Minister Wijesekera said further.

Posted in Uncategorized

S&P Pushes Sri Lankan Bonds Deeper Into Junk Territory With ‘Default’ Rating

Global ratings agency S&P Global on Monday slashed its rating on Sri Lankan bonds to ‘D’, representing default, following missed interest and principal payments.

The South Asian nation, which had defaulted on a bond payment earlier this year and has $12 billion in overseas debt with private creditors, has been battling the worst financial crisis in its independent history.

Sri Lanka’s external public debt freeze prevents payment of interest and principal obligations due on the government’s international sovereign bonds.

S&P said it did not expect the Sri Lankan government, which remains in default on some foreign currency obligations, to make the bond payments within 30 calendar days after their due dates.

The ratings agency affirmed its ‘SD’ long-term and ‘SD’ short-term foreign currency sovereign ratings on Sri Lanka, as well as reiterated the outlook for the island nation at ‘negative’.

The country is considering a restructuring of local and foreign debt. It is due to restart bailout talks with the International Monetary Fund (IMF) in August in the hope of securing $3 billion in funding.

(Reporting by Richard Rohan Francis in Bengaluru; Editing by Shinjini Ganguli)

Copyright 2022 Thomson Reuters.

Posted in Uncategorized

Jayanath Colombage appointed Ambassador to Indonesia

Admiral Jayanath Colombage has been appointed as the new Ambassador of Sri Lanka to the Republic of Indonesia.

His name was approved by the Parliamentary Committee on High Posts, Communications Department of Parliament said.

Meanwhile, the Parliamentary Committee on High Posts has approved the appointments of five Secretaries to Ministries as well.

Accordingly, the appointments of M. B. R. Pushpakumara as the Secretary to the Ministry of Agriculture, R.M.C.M Herath as the Secretary to the Ministry of Wild Life and Forest and K.M.M. Siriwardana as the Secretary to the Ministry of Finance, Economic Stabilization and National Policies were approved by the Committee on High Posts.

The committee has also approved the appointments of S. J. S. Chandraguptha as the Secretary to the Ministry of Health and R.P.A. Wimalaweera as the Secretary to the Ministry of Labour and Foreign Employment.

Posted in Uncategorized

GL to be ousted from SLPP chairmanship?

Talks are reportedly underway to appoint new office bearers at the Sri Lanka Podujana Peramuna (SLPP) convention which is to be held on Nov. 02.

During discussions, it has been proposed to replace party chairman Prof. G.L. Peiris with former President Mahinda Rajapaksa.

It has also been proposed to appoint Namal Rajapaksa as the national organizer of the party.

However, sources say that these might change as discussions are still underway.

It is said that the founder of the SLPP – former Finance Minister Mr. Basil Rajapaksa and former President Mr. Gotabhaya Rajapaksa have decided not to accept any position.

It is said that the party has also decided to meet the people at the electorate level and start negotiations with other member parties.

The reason for these measures is probably because of the need to prepare for possible LG polls after the power of the LG bodies fall under the Election Commission after this September.

Presidential candidate Ranil?

Meanwhile, ‘Mawbima’ has reported that preparations are underway for the current President Ranil Wickramasinghe to run for the upcoming presidential election under an alliance led by the Sri Lanka Podujana Peramuna and the United National Party.

The report further notes that former President – Mahinda Rajapaksa as well as SLPP national organiser Basil Rajapaksa are yet to announce a final decision.

However, the media had recently reported that Basil Rajapaksa is now only left with the support of 15 SLPP MPs.

Posted in Uncategorized

Srilanka Navy denies reports of a War Game with Pakistan

The Sri Lanka Navy says there is no truth to reports circulating on media that a War Game is scheduled to be conducted between the Sri Lanka and Pakistan Navies.

Issuing a notice, the Navy said the PNS Taimur ship of the Pakistan Navy, which recently arrived at the Colombo port for an official visit, will engage in a friendly joint naval exercise with a Sri Lankan naval ship in seas off the Colombo port when it leaves the island tomorrow.

The Navy emphasized that friendly naval exercises are regularly conducted when foreign naval ships depart the island after making official port calls.

As part of this Passage Exercise, both vessels are expected to conduct Maneuvering and Search and Rescue exercises.

Posted in Uncategorized

Will support from Opposition until Tamil people are satisfied: C.V. Wigneswaran

Head of the Tamil Makkal Thesiya Kuttani (TMTK) C. V. Wigneswaran has told the President that they will support the Government from the Opposition, until a process is started in earnest satisfying the Tamil people.

He made this statement following a recent meeting with the President and Prime Minister in Colombo.

In a press release, Head of the TMTK C. V. Wigneswaran said President Wickremesinghe’s idea was all MPs from Provinces must govern the respective Provinces under the Chairmanship of the Governors within the terms of a National Agenda.

President Wickremesinghe had referred to Austria as an example, however, according to Wigneswaran’s release, his example was inappropriate as Austria remains a Federal Country.

During the meeting, Wigneswaran said no land should be appropriated by the Central Government in the Provinces except with the consent and concurrence of the respective Provincial Government, and that there was no response from the President.

According to the press release, President Wickremesinghe appeared to be in a hurry to rope in Jaffna MPs to be part of the Government. Wigneswaran highlighted that it may be an attempt to showcase it to Geneva.

The release goes on to state that the President also requested Wigneswaran to share a document which outlines the proposal on how funds could be channeled into Sri Lanka from the Diaspora.

It was also pointed out that the 13th Amendment to the Constitution should be implemented in full as a temporary measure until satisfactory constitutional reforms are made.

Sri Lanka jet fuel shortages costing SriLankan Airlines US$7mmn a month

A shortage of jet fuel in the country due to forex shortages is costing the state-run SriLankan Airlines an extra 7 million US dollars a month, though the airline is operating most of its schedule, an official said.

“Now we are running 90 percent of our flights even though there is no fuel in the country which is costing us about 7 million US dollars per month in extra and lost revenue,” Richard Nuttall, the Chief Commercial Officer of SriLanka Airlines told Economy Next at the sidelines of a media brief.

“To carry the extra fuel, we can’t carry all the freight we like to into the country.”

SriLankan Airlines was stopping at third countries like India to load up on fuel for long haul destinations.

Carrying fuel for the return journey, a tactic known as tinkering, forces an airline to cut down freight

The hit from fuel came after the airline SriLankan reported a profit of 1.7 million US dollars in the March 2022 quarter for the first time since 2006, after cutting costs such as staff costs and overheads; renegotiating supplier contracts and increasing cargo revenue.

Nuttall said few months ago they were not sure of even operating 30-40 percent of the flights due to lack of sufficient jet fuel in the country.

The state-run Ceylon Petroleum Corporation could not import enough jet fuel due to forex shortages coming from a broken soft-peg. Sri Lanka is currently undergoing the worst currency crises in the history of the island’s intermediate regime central bank.

The Ministry of Energy has said it had appointed a third party to import jet fuel.

“Its not sustainable but we have maintained operations,” Nuttall said. “We understand we will be getting jet fuel very soon.”

The currency collapse had reduced the spending power of holiday makers in Sri Lanka while tourists were also put off by fuel shortages and popular protests.

“While the tourist numbers are not that great there’s demand from Sri Lanka diaspora, Indians,” Nuttall said.

He says being a small airline has allowed them to be nimble and shift capacity.

“If we are getting more demand from one destination, we will put more flights there.”

India is a great example how a country can progress with such diversity in language, culture, race, religion and many more as one nation -TELO

Prime Minister of India

Your Excellency

Best Wishes on your Country’s 75th year of Independence

I take the privilege and pleasure to tender my wishes and congratulations to you and people of India on the 75th year of Independence celebrated on the 15th instance.

This day is celebrated across the nation with much ardour and pride, with people coming together to remember the sacrifices of their freedom fighters and leaders who dedicated their lives to liberate the nation.

India is a great example to the world that how a country can progress with such diversity in language, culture, race, religion and many more as one nation. India being regarded as “Largest Democracy” to date.

Indian people are celebrating this day with dignity and honor. I take pride in your glory and wish all the very best to the people of India to continue this unity and spirit in the future.

Sincerely

Selvam Adaikalanathan MP Vanni District
Tamil National Alliance
President – Tamil Eelam Liberation Organization

Posted in Uncategorized