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.
The Chief Prelate of the Malwathu and Asgiri Chapters have asked President Ranil Wickremesinghe to prepare a proper policy mechanism to reduce the rising cost of living to alleviate public burden and calm the social unrest.
Chief Prelate of the Malwathu Chapter Most Venerable Thibbatuwawe Sri Siddhartha Sumangala Thera and the Chief Prelate of the Asgiri Chapter Most Venerable Warakagoda Sri Gnanaratana Thera in a letter addressed to the President commended the steps taken by the President to bring back some normalcy to the country after a turbulent period where major economic, political and social instability existed last year.
The Chief Prelates noted in the letter that the postponement of the local government election has caused some unrest among the public and that preserving democracy means confirming people’s sovereignty through free and fair elections.
They have pointed out to the president, who is recognized as a democratic state leader, that it is the government’s responsibility to conduct the local government elections properly.
The Prelates also highlighted the duties of responsibilities of all stakeholders to ensure economic stability in the country..
“The government should take immediate measures to successfully face the emerging economic challenges and implement populist policies to minimize the rising cost of living and secure people’s lives. Also, all parties have their duties and responsibilities to stabilize the country economically at this critical time,” they said.
The prelates said throughout the past period, they have pointed out the need to establish a practical sustainable policy framework.
“We have reiterated the need to put aside party political theories and implement long-term plans based on national principles for the sake of public welfare.”
“Instead of placing the entire burden of the economic crisis on the public, we have emphasized that the government should work to reduce public suffering through practical solutions such as proper management of public money, prevention of corruption and misuse of public resources, and removal of unlimited privileges enjoyed by public representatives,” the Chief Prelates stressed.
They said the public protests about existing problems should not be implemented with the aim of creating political, economic and social instability in the country. Also, the public should have the right to express their opinions freely in accordance with the legal limits of the country.
Therefore, the Chief Prelates said they expect the government to control the cost of living and gradually restore the lives of the people by securing the supremacy of the law and wished the President that he will get strength and courage from the blessings of Ratnatra for the task.
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.
Train services on the Main Line are delayed due to a derailment, the Railway Control Room says.
According to reports, the Anuradhapura-bound Yal Devi express train has derailed near the Dematagoda railway station.
Minister of Water Supply and Estate Infrastructure Development Jeevan Thondaman and High Commissioner of India to Sri Lanka Gopal Baglay exchanged diplomatic notes, paving way for a three-fold increase in unit cost of a house under Phase-3 of Indian Housing Project (IHP), a statement by the Indian High Commission said today (13).
This step would now enable expeditious completion of Phase-3 of IHP, under which 4000 houses are being constructed through grant assistance by Government of India (GOI) in plantation areas of Sri Lanka, spread across 7 Districts in Central, Uva and Southern Provinces.
Close to 46,000 houses were built in different parts of Sri Lanka under the first two phases of IHP. Next phase for the construction of 10,000 houses in plantation areas, announced by Prime Minister Narendra Modi, shall commence soon.
The exchange of diplomatic notes takes place at an important juncture, when the Indian-Origin Tamil (IOT) community who are concentrated in the plantation areas marks 200 years of their arrival to Sri Lanka.
This also coincides with 100 years of establishment of Assistant High Commission of India in Kandy, which has been instrumental in implementing several people-centric grant schemes by GOI for the IOT community cutting across areas such as education, health, vocational training, livelihood development and several others, in addition to housing.
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.
On behalf of the Government and people of Sri Lanka, President Ranil Wickremesinghe extended congratulations to Chinese President Xi Jinping on his confirmation of a third term as President of the People’s Republic of China.
President Ranil Wickremesinghe acknowledged the accomplished leadership of President Xi Jinping, stating that under his leadership, China has overcome challenges, and made great progress while expressing confidence that President Xi Jinping’s third term in office will undoubtedly open new vistas for China.
President Wickremesinghe emphasized the longstanding and exceptional bond of solidarity and mutual understanding between Sri Lanka and China, which has persisted for centuries. He expressed gratitude for China’s steadfast assistance to Sri Lanka in addressing the nation’s present economic difficulties, particularly in navigating the IMF process.
The President also expressed confidence that during President Xi Jinping’s new term in Office, the existing robust cooperation between the two countries will continue to flourish for the mutual benefit of the people of both countries.
President Wickremesinghe conveyed his heartfelt well wishes for President Xi Jinping’s personal welfare, as well as the on-going success and prosperity of the amicable citizens of the People’s Republic of China.
