News

Army and police personnel have been deployed around the premises of the Department of Government Printing (Government Press) in Borella to provide special security.

Accordingly, a special battalion consisting of nearly 100 army personnel and nearly 50 police personnel has been deployed around the premises.

The International Monetary Fund is considering approving Sri Lanka’s bailout even without the formal assurance of debt-restructuring support from China, the nation’s biggest bilateral creditor, according to people familiar with the discussions.

Under a rarely used policy on lending into official arrears, the IMF may consider approving Sri Lanka’s loan because China’s assurance is the only prerequisite missing, according to the people who declined to be identified because the information isn’t public.

This provision is aimed at preventing a creditor from blocking assistance to a country in dire need of financing and has shown commitment to meet loan conditions.

An IMF spokesperson said that it’s premature to discuss the precise IMF policies that could be applied to lending to Sri Lanka, and that the nation’s authorities continue to seek financing assurances so that the fund’s executive board can consider their request for a loan. IMF staff also continue to engage with the Sri Lankan authorities who are working on completing upfront policy measures, the spokesperson said.

IMF Policy

The IMF can use the policy on lending into official arrears if it deems prompt financial support is essential and sees the country pursuing appropriate policies and making good-faith efforts to reach an agreement with creditors, according to an explanation on the fund’s website.

Moving forward with loan approval would be a shift from its position earlier this month, when it said the approval of Sri Lanka’s $2.9 billion Extended Fund Facility will depend on whether the nation can secure assurances from all bilateral creditors.

The development comes as World Bank President David Malpass said Thursday that long extensions of debt are among the options that G-20 nations and others are considering to help ease the burden for poor countries.

The IMF, World Bank and Group of 20 nations chair India separately held virtual discussions Friday on global sovereign debt ahead of the finance ministers and central bank governors’ meeting in Bangalore next week.

Sri Lanka and Pakistan count on IMF loans to provide immediate relief by shoring up their foreign-currency reserves and unlocking more funding.

Pending China’s creditor assurance, Sri Lanka is trying to meet other reform conditions set by the IMF, including increasing electricity tariffs and clearing a new monetary law for parliament approval. The government may also loosen its grip on a currency band to meet the fund’s requirements.

The Paris Club — an informal group of rich, mostly western creditors — and India have provided formal support to Sri Lanka’s loan recast, leaving China as a holdout.

China, which accounts for about 52% of the bankrupt nation’s bilateral debt, has instead offered term extensions via the state-owned Export-Import Bank.

Debt negotiations have dragged since Sri Lanka defaulted in May, causing severe supply shortage, depleting its foreign-currency reserves, sending inflation and borrowing costs soaring and pushing the economy into a recession.

While the nation has repurposed some funds to ease the shortage and damp price pressures, it would need IMF’s bailout and other funding to turn the situation around.

Source: Bloomberg

President instructs to finish the Minipe Left Bank Canal Rehabilitation Project (MLBCRP) work before the upcoming Maha Season

President Ranil Wickremesinghe instructed the officials to speed up the Minipe Left Bank Canal Rehabilitation Project (MLBCRP), which has been delayed for over three years owing to various reasons, and to provide its benefits to the farmers before the next Maha Season.

The President provided these instructions yesterday afternoon (19) while joining an observation tour of the Minipe Anicut construction site.

President Wickremesinghe, after inspecting the plan of the project, also inquired from the engineers about the operation of the project.

In response to the President, Site Manager Kasun Gunawardena made an introduction about the project.

The President also pointed out the possibility of obtaining the support of the students of engineering faculties in Sri Lanka for the future work of the project.

The existing anicut is not sufficient to release water to the left and right bank canals when water is released twice a day from the Rantambe Hydro Power Plant during peak demand for electricity. Due to this, in order to provide more reliable and continuous water supply to Minipe agricultural lands, the Minipe Dam was raised by 3.5 meters and the renovation of the 74 kilometers-long main canal on the left bank of Minipe, was commenced.

After the reconstruction of the Minipe Anicut, constant water supply to farmers will be ensured and the cultivation land on both sides of the left bank of Minipe could be cultivated without obstruction in the Yala-Maha Seasons while providing benefits to 15,000 farmer families.

The cost of the project is Rs. 3,000 million and the construction work is carried out by China Gexhouba Group Company Limited (CGGC).

Minipe Anicut, which was built in 1948, was last renovated in 1980. The specialty is that the renovation work is happening again after a lapse of 40 years.

Senior Advisor to the President on National Security and Chief of Staff of the President Sagala Ratnayake, Director of Minipe Left Bank Canal Rehabilitation Project (MLBCRP) Management Division Engineer D.B. Wijeratne, Project Director Indika Valisundara and other officials attended this event.

President Ranil Wickremesinghe says that the IMF Extended Fund Facility is expected in March.

He added that the reduction of bank interest rates is being considered in relation to the gradual decline of inflation.

The President made this statement during a discussion with S&M Scale Rice Mill Owners.

Sri Lankan professor Gomika Udugamasooriya has been named to the National Academy of Inventors in the United States.

He is among 95 academic inventors from institutions around the US chosen as rising leaders in their fields with “success in patents, licensing and commercialization” and for producing “technologies that have brought, or aspire to bring, real impact on the welfare of society.”

Udugamasooriya is the associate professor of medicinal chemistry in the College of Pharmacy at the University of Houston.

He has developed a novel drug discovery technology, and identified patented peptoid drug-lead compounds that have both therapeutic and diagnostic applications in cancer, COVID-19, rheumatoid arthritis, sepsis and macular degeneration.

The University of Houston now has 35 faculty members in the National Academy of Inventors.

(eurekaalert.org)

The Finance Secretary has officially communicated to the National Election Commission that there are serious issues with regard to providing funds for the Local Government Election, given the economic crisis in the country.

Chairman of the National Election Commission Attorney Nimal Punchihewa told News 1st that the official communication was made when the Finance Secretary and other high ranking officials from the Finance Ministry were summoned to the NEC for talks on Friday (17).

The Finance Ministry officials had noted that as per the circular issued to cut down on government expenditure, funds can only be allocated for essential requirements in the country.

They had also noted that another circular has been issued noting that the approval of the Finance Minister is necessary for all non-essential expenses.

President Ranil Wickremesinghe is also the Finance Minister of the country.

The Finance Secretary had told the National Election Commission that there are issues in providing funds for the Local Government Election, given the current situation.

President Ranil Wickremesinghe met with a group of youth to discuss his policy statement and the government’s plans for the country’s future. The group of young people expressed their views on the government’s policies in a newspaper article and the President had invited them over for a follow-up discussion along with the two young journalists, Anoushka Jayasuriya and Shannon Salgadoe who had written the article. During the discussion, they had expressed what they expect from the government, and discussed a range of issues with the President.

One of the major topics discussed was the shortcomings in the education sector, with the youth group highlighting the need for proper mental health education at the school level and a proper education mechanism for the inclusion of the differently abled. They asked, “Will your government get some real mental health education in Sri Lanka, in schools especially?”

The President agreed that attention paid to mental health in schools was insufficient and acknowledged that much needs to be done with regard to those with mental health issues and those who are differently abled. He noted, however, that one of the main issues facing the country is the lack of trained personnel in this field.

The youth group also brought up the issue of taxes, adding that while taxes are not a novel concept in many other countries, it is not so in Sri Lanka.

The President explained that the government budget can be examined by the Parliament to ensure they are adhering to it. He noted that there are many committees to examine the budget, such as the Committee on Public Enterprises, Committee on Public Accounts, and Public Finance Committee. He added that they are also bringing in the Parliamentary Budget Office Bill to strengthen the process further.

They questioned, “Transparency is a big question with the new taxes. People are feeling it because suddenly they are forced to pay a huge portion of their salary.”

“The transparency is there because in a big budget we have line items. If you read it, you can never say what it is. It’s in any budget, it’s the parliament that ensures the money is spent wisely, and it takes 2 to 3 years. So the parliament must exercise the powers now. Last time, I think the Opposition didn’t fill their quota of Chairman in the oversight committees. So all that went by board, even this time for selection, they hadn’t come to Parliament to the selection committee. But I think the remaining people just got some opposition names into it. So that is where the transparency comes in and nowhere else. You can ask them as to why you spend and all,” the President explained.

The President also discussed the country’s economic situation and the challenges the government faces, noting that Sri Lanka was in an abnormal economic situation and had to restructure debts to get out of it. He added that the government had to cut down on some expenditure and find money in other areas, such as raising the electricity tariff. The President acknowledged that it is not an easy job, but someone has to do it.

“Sri Lanka was in a very abnormal economic situation, and we had to get out of it. But to get out of it, we have to restructure debts. To restructure the debts we had to cut down our expenditure or find money for it. In some areas we have cut down, but for other areas, we have to find money. Like yesterday we had to raise the electricity tariff, but then there is a Rs. 230 billion loss. So if you don’t raise it, you won’t have power. We are all paying for the past sins. This is how we get out of it fast and this is what we have to do. I don’t think there’s any other way out.

It’s not a job, that anyone would like to do, but someone has to do it.”

The youth group also raised the issue of individual accountability and suggested that parliamentarians should have some degree of education. The President agreed but noted that it will take some time for this to happen. He explained that many younger people either have a degree or business experience and it is up to the voters to choose the type of member they want to elect.

“When the individual accountability is concerned, the members of Parliament, well you have a system where you can give a preference. If you don’t want any of them, you vote for the party and you can choose whom you want. However, it’s a very expensive procedure. So I want to appoint Committee to look into how we can have a better system of elections without spending all the money that we spend.

In a parliamentary election, the bulk of the money is spent by the individual candidates, not by the parties.”

The youth also asked the President “Why does everyone shout in parliament? Do you think they shout to avoid responding to questions posed to them?”

In response, the President said that it is done to get media attention and is not appropriate. He noted that he has seen similar behaviour in other countries and that it is not unique to Sri Lanka.

“That is bad. Now it’s done to get media attention. There are people when they argue, may shout at each other. But, not like this, they just keep shouting. Now, it’s bad and setting a bad example to the country. There is a price. When we look at the UK, it is not so. There are times when people cheer but this is just being done. I think we have to bring some control over it,” he added.

Overall, the meeting was an opportunity for the President to hear the views of the youth and discuss the government’s plans for the future. The youth group expressed their concerns and ideas, and the President listened and responded to their questions and comments.

Israel has agreed to recruit 2000 female caregivers from Sri Lanka for the year 2023, Sri Lanka’s Ministry of Labour and Foreign Employment reported.

The Ministry said in a statement, that the assurance was given to the Minister of Labour and Foreign Employment Manusha Nanayakkara by a special delegation from Israel visiting Sri Lanka.

The delegation comprising Shiely Raisin Sason, director of Israel’s Population and Migration Institute and members Zindani Mary, Yaccow Kabilau, Margarita Gaorodnitsky among others met Minister Manusha Nanayakkara yesterday (16).

During the meeting, the minister requested the delegation to provide more job opportunities to caregivers from Sri Lanka and in response, the delegation assured the Minister that their country will recruit 2000 female caregivers from Sri Lanka this year.

The delegation pointed out that according to the existing culture in Israel, women have more opportunities for patient care, and the number of opportunities for male caregivers is very limited, and accordingly, the delegation also requested the Minister to give priority to females when providing training in the caregiver sector in the future.

The delegation also pointed out the importance of accelerating the recruitment process for caregiver jobs. Accordingly, the Minister assured the delegation that only those who meet the relevant qualifications will be recruited for training. Here, the Israeli delegation informed the minister that Sri Lankan workers with English language proficiency, who have received professional training, will always get the opportunity for Israeli employment opportunities. The delegation said their country is ready to give opportunities to up to 8000 qualified workers on an annual basis.

Both parties pointed out the importance of recruiting workers through a transparent process. The minister pointed out that some private recruiters are acting like a mafia in the process of recruiting caregivers to work in Israel. The minister also clarified the facts about the allegations against some Sri Lankans in Israel regarding the recruitment process. The Minister also mentioned that there are allegations that some people are taking money for providing Israeli jobs.

The Minister also presented to the Israeli representatives the requests to open up the opportunities to hire caregivers for jobs in Israel by the private sector as well. Responding the delegation said that the process of recruiting caregivers should be carried out only with the intervention of the Foreign Employment Bureau.

The delegation from the Population and Migration Institution of Israel requested that any information regarding people who are taking money to provide caregiver jobs in Israel should be given to them to take necessary action. They also assured that the security and confidentiality of the persons giving such information will be fully protected. The delegation also assured that maximum action will be taken according to Israeli law against people who make money through the recruitment process.

The minister also mentioned that the safety of workers who leave for work abroad is always a high priority and added that there have been no allegations of harassment of workers who have left for work in Israel. The minister expressed his thanks to Israel in that regard.

In this discussion, the minister also asked the Israeli delegation that since there are many trained professionals in the country for jobs in the agricultural sector, it would be better if they were given an opportunity in that area as well. Here, the Israeli delegation stated that they are not able to open jobs in the agricultural sector at this time, and that necessary steps will be taken in the future.

Election officials have been told in writing about a change to their duties in view of the indefinite postponement of the postal voting for the local government polls.

The commissioner general of elections has instructed that normal duty hours will apply for the staff from Monday and overtime payments for election duties suspended.

All election offices will be kept closed at weekends and on public holidays.

The services of casual workers and those recalled from retirement as well as vehicle rentals are on hold since yesterday (18) as well.

However, police protection will continue for the offices until further notice.

Meanwhile, the Constitutional Council is in the process of selecting members for independent commissions.

Speaker Mahinda Yapa Abeywardena has told ‘Deshaya’ the CC’s three civil society members will recommend the qualified applicants without interviews being held.

The Colombo High Court has further extended the overseas travel ban imposed on former Central Bank Governor Ajith Nivard Cabraal until April 06.

Colombo Additional Magistrate Harshana Kekulawala issued this order when the case related to a private plaint made by Rajitha Keerthi Tennakoon against the former Central Bank chief over the misuse of public funds was taken up today (Feb. 16).

Further, the Additional Magistrate declared that the order regarding the preliminary objections which have been submitted on behalf of Ajith Nivard Cabraal, will be issued on April 06.

President Ranil Wickremesinghe today pledged to prioritize the country’s economic recovery while ensuring that law and order is maintained to prevent anarchy.

He made a commitment to restore the country’s economy and establish a functioning democratic society before the end of this year.

Speaking at the ‘Imagine’ 32nd Rotary District Conference in Colombo this morning (Feb 18), the President emphasized the importance of economic recovery and improving citizens’ quality of life. He affirmed that all government decisions would be based on these priorities.

In his address, President Wickremesinghe stated that democracy depends on the maintenance of public order which requires law and order. He underscored that without these essential components, democracy would be replaced by anarchy. He assured the audience that he would do his utmost to prevent such a scenario from occurring.

The President lauded the Rotary District 3220 for its invaluable assistance during past crises, such as the anti-polio campaign, tsunami, and medicine shortages.

He also stated that following the country’s economic recovery, next year it would be in a position to decide on the future it wants, with the use of the ballot.

Several distinguished figures were in attendance at the ‘Imagine’ 32nd Rotary District Conference, including the Conference Chairman and Past President Anisha Dharmadasa, the District Governor of Sri Lanka and Maldives Pubudu de Zoysa, and the District Advisor on Public Image and Past President Pradeep Amirthanayagam.

All of these individuals provided their valuable perspectives on the conference’s theme and emphasized the importance of community service.

Additionally, the event was graced by the presence of Ms. Valarie Wafer, who represented Rotary International President Jennifer Jones.

-PMD

Police have sealed the office of Public Utilities Commission chairman Janaka Ratnayake following a court order.

According to police media spokesman Nihal Talduwa, Kollupitiya police obtained the order from the Colombo Fort magistrate’s court after making submissions that actions had been planned in the office to inconvenience the government.

It will be reopened in the presence of Ratnayake, who is presently in Australia, said SSP Talduwa.