News

Canteen owners are raising the price of milk tea to Rs. 100 per cup with effect from midnight today (20).

President of their association Asela Sampath said they would maintain this price for one-year duration without going for another increase.

If the price can be reduced, that will be done, he said.

Sri Lanka today (17) signed an agreement for one billion US dollar credit line from India to help import essential items.

It was inked in New Delhi in the presence of Indian foreign minister S. Jaishankar and the finance ministers of the two countries Nirmala Sitharaman and Basil Rajapaksa.

“India stands with Sri Lanka,” Jaishankar said in a tweet later.

The Sri Lanka Tea Board says that the export of tea to Ukraine has come to a complete halt.

Its Director General, Anura Siriwardena stated that the country will not be able to export tea again until the Ukraine-Russia crisis comes to an end.

The amount of tea exported to Ukraine annually is about 4 million kilograms.

He noted that tea exports to Russia have also declined slightly due to the current situation.

Accordingly, alternative ways of exporting tea to Russia are being studied, Siriwardena added.

A Gazette Extraordinary has been issued by Minister of Health Keheliya Rambukwella increasing the revision of prices of 60 varieties of medicinal drugs.

The communiqué was published under Section 142 of the National Medicines Regulatory Authority Act, No. 5 of 2015.

The price revision is effective from today (March 15).

Gazette 2022-03-15 Price Re... by Ada Derana

Local supplier Laugfs Gas has raised the prices of its gas cylinders, according to its agents.

Up by Rs. 1,359, a 12.5 kg gas cylinder now costs Rs. 4,199, and with a Rs. 544 increase, a five kg one is now priced at Rs. 1,680.

Earlier, Laugfs Gas raised the price from Rs. 1,856 to Rs. 2,840 last October.

Finance minister Basil Rajapaksa left for India a short while ago to finalize a financial assistance.

He was accompanied by his wife and finance secretary S.R. Attygalle,

Rajapaksa has had a virtual meeting with Indian external affairs minister S. Jaishankar on a credit facility of USD one billion for importing food, essential items and medicine.

Earlier today, the cabinet also gave permission for the finance minister to obtain technical assistance from the International Monetary Fund and to seek necessary assistance to resolve the economic crisis.

The Final Term Examinations of schools in the Western Province are to be delayed, announced the Director of Education for the Western Province.

This is due to a shortage in sourcing paper and other material to prepare the examination papers.

Due to the shortage of paper and other material, the final term examination timetable for Grades 6, 7, and 8 will be amended, and the final term examinations for Grades 4, 9, 10, and 11 will be moved to a date after the April 2022 holidays.

Cement prices have risen with Tokyo cement increasing the price of a 50 kg bag of cement by 350 rupees.

Accordingly, the new price of a bag of cement will be Rs. 1,850.

The price of a bag of cement remained at Rs. 1,500 so far.

A special commodity levy has been imposed on several fruits and dairy imports for a six-month duration.

The finance ministry’s trade and investment policy department says the levy has come into effect on 10 March.

The items include grapes, apples, oranges, dates, yoghurt, cheese and butter.

Given below is the list of items and taxes:

There will be a 15% increase in bus fares if no fuel subsidy is received, President of the All Ceylon Private Bus Owners' Association Gemunu Wijeratne says.

Speaking to the media today (12), Wijeratne said that due to the increase in diesel prices, buses will be completely phased out by next Monday.

However, if a fuel subsidy is provided, bus fares need not be increased and buses can remain in operation.

He added that there would be no need to increase bus fares if private buses could be refueled at previous prices through the SLTB or through cooperative depots.

He, therefore, requested the Minister of Transport and the Secretary to the Ministry to take necessary action to provide a fuel subsidy.

General Secretary of the All Island Private Bus Owners' Union Federation (AIPBOUF) Anjana Priyanjith said that 80% of the buses will not be running today and the remaining 20% will be out of service by tomorrow.

Meanwhile, Inter-Provincial Private Bus Association (IPPBA) President Sarath Vijitha Kumara said that all buses are preparing to withdraw from service due to the unbearable increase in fuel prices.

There is no truth to claims that president Gotabaya Rajapaksa had asked Central Bank governor Ajith Nivard Cabraal to resign, his media office said.

A local newspaper report claiming that the IMF delegation had laid down such a condition is a total canard, it said.

The IMF did not discuss officials and the talks covered only the monetary issues.

The president and the government have the fullest confidence in the CBSL governor and there is no reason whatsoever to seek his resignation, it said.

Meetings of Sri Lankan authorities with IMF officials over the next few weeks are not for the purpose of debt restructuring as stated by some news agencies, says governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal.

He is responding, in a tweet, to a Reuters report, which said that Sri Lanka will begin talks with the IMF next month on a plan to help the crisis-hit country, including assistance with debt restructuring and managing its foreign exchange shortage.

Quoting a source, the new agency said, “To find a way out of the crisis, the government will seek assistance with debt restructuring, the foreign exchange crisis, bolstering revenue generation and reforming state-owned enterprises.”

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