News

The International Monetary Fund (IMF) is poised to issue a statement in the upcoming weeks, signalling Sri Lanka’s exit from bankruptcy, President Ranil Wickremesinghe announced today (Dec 06).

However, the President underscored that, for sustained economic stability, a departure from outdated economic methods is imperative.

He further cautioned against the implementation of conventional economic strategies, emphasizing that without adopting innovative approaches, the risk of a recurrent economic crisis looms over the nation within the next decade.

The President made the remarks while addressing the centenary celebration of the Government Valuation Department, where he declared the initiation of a ground-breaking economic program. Set to kick off on January 1, this transformative initiative is designed to modernize various sectors and propel the nation towards progress.

The President underscored the imperative nature of adopting new economic reforms, emphasizing that the nation cannot afford to persist with outdated systems. He highlighted that the hardships endured over the past years should not be passed down to the next generation, asserting that the only viable course of action is to embrace the proposed economic changes, urging collective participation.

Reflecting on the recent economic challenges, President Wickremesinghe acknowledged the concerted efforts that rescued the country from financial distress over the past 18 months and commended the heads of public institutions and the workforce for their dedication. He cautioned against complacency, warning that without prudent management of the current economic stability, the nation might face another crisis within the next decade. The President advocated for a shift towards a digital economy, citing the necessity of employing modern economic methodologies.

President Wickremesinghe additionally emphasized that global financial entities have acknowledged Sri Lanka’s remarkable and swift recovery from economic challenges, particularly in comparison to countries facing bankruptcy amid the global economic recession.

Expressing gratitude to the employees of the Government Valuation Department for their dedicated service, the President presented awards and issued a commemorative stamp worth Rs. 25 and a first-day cover to mark the centenary celebration. He unveiled the song and flag of the department and introduced the “e-Valuation” system to digitize its operations.

President Wickremesinghe, in his additional remarks, highlighted the historical evolution of the Valuation Department, tracing its origins back to the Portuguese period and noting significant developments during the British era, including the establishment of the Assessor position in 1923.

Underlining the continued evolution, the President pointed out that the role of the Valuation Department experienced further expansion with the introduction of the land policy in 1972, ushering in a new era.

The President stressed the critical importance of digitization in this context, emphasizing the necessity for a skilled workforce in assessment within the framework of the digital economy. To achieve this, he proposed an increase in university enrolment to nurture future Valuers.

Looking ahead, President Wickremesinghe advocated for a regular property valuation cycle, suggesting that assessments should be conducted every five years. He underscored the vital contribution of the assessment process to the tax collection system, expressing high regard for the initiation of digitalization within the Valuation Department starting from the current year.

Reflecting on the challenges of the past year, during which the nation confronted a significant economic crisis, it is essential to acknowledge the substantial sacrifices made by both government officials and the broader population in steering the country towards recovery. Gratitude is due to all those who played a part in this collective effort, he said.

In the upcoming weeks, the International Monetary Fund (IMF) is poised to issue a statement signalling the country’s exit from bankruptcy. However, President Ranil Wickremesinghe underscored that, for sustained economic stability, a departure from outdated economic methods is imperative. He cautioned against the implementation of conventional economic strategies, emphasizing that without adopting innovative approaches, the risk of a recurrent economic crisis looms over the nation within the next decade.

Key measures have already been implemented to reinforce fiscal prudence. The Central Bank has ceased the practice of printing money and loans from state banks earmarked for development, have been halted. President Wickremesinghe emphasized that adherence to these conditions is indispensable for fostering economic growth. The President emphasized the crucial need for financial discipline, asserting that effective management of the economy in alignment with disciplined financial practices will pave the way for providing greater relief to the citizens in the future.

The prevailing economic crisis in the country, stemming from the disparity between imports and exports coupled with a budget deficit, necessitates strategic interventions. To address these challenges, comprehensive plans have been formulated to augment export earnings, curtail government expenditure and enhance government income.

Recognizing the potential of the tourism industry to generate substantial foreign exchange, a targeted initiative has been set in motion with the aim of attracting 2.5 million tourists to Sri Lanka next year. The government is optimistic that by further doubling this figure to 5 million, a rapid alleviation of the country’s economic woes can be achieved.

As part of this year’s budget proposal, a significant allocation of 300,000 acres has been earmarked for cultivation, representing a key component of the economic revitalization strategy.

The Valuation Department is poised to play a pivotal role in realizing this agricultural objective. Acknowledging the importance of efficiency in this process, the digitization of the Valuation Department has been prioritized, foreseeing enhanced effectiveness in its operations.

In addressing the pressing needs of the energy sector, a paradigm shift towards renewable energy is imperative. The emphasis should be placed on harnessing wind and solar power resources, with the potential to generate 35GW and 200GW, respectively. Given that the national consumption requirement is less than 50GW, this surplus capacity positions the energy sector as a potential foreign exchange earner.

In addition to prioritizing renewable energy, due attention must be accorded to the integration of Artificial Intelligence (AI) into the energy sector and broader digital economy. The strategic deployment of AI has the potential to rapidly bolster the nation’s economic prowess.

The event was attended by, State Minister for Finance Ranjith Siyambalapitiya, State Minister for Mass Media Shanta Bandara, Chief Government Valuer Pushpa Muthukumarana, Post Master General Ruwan Satkumara and employees of the Government Valuation Department.

In a bid to address the pressing challenges posed by climate change and the need for robust institutional frameworks, President Ranil Wickremesinghe officially launched the International Climate Change University (ICCU) today (03), the President’s Media Division (PMD) said.

The President emphasized the necessity of institutional changes following the Paris Climate Agreement and highlighted the absence of alternative bodies to effectively tackle the on-going climate crisis.

President Wickremesinghe underlined that, despite the global commitment to the Paris Agreement, no significant institutional changes were implemented to assist the world in achieving the agreed-upon targets. Recognizing the urgency of the situation, the ICCU aims to fill this void by developing postgraduate-level capacity building, serving as a crucial support system for climate sciences.

The campus for the ICCU is set to be established on initially allocated 600 acres of land in Sri Lanka. However, President Wickremesinghe clarified that the university will not be confined to Sri Lanka; it will be an international stakeholder university, welcoming collaboration and contributions from around the world.

Highlighting the global nature of climate responsibility, President Wickremesinghe announced that Bangladesh, Seychelles and Moldova have already pledged their support to the ICCU. He emphasized that climate action is not the sole responsibility of any single nation and called upon the international community to join hands in this endeavour.

President Wickremesinghe concluded by urging nations and individuals worldwide to recognize the shared responsibility for climate issues and actively participate in the International Climate Change University. The launch of the ICCU marks a significant step towards fostering international collaboration, knowledge exchange and building a collective response to the urgent and complex challenges posed by climate change.

--PMD--

The Sri Lanka Air Force marked a significant chapter in history with the ceremonial induction of two Harbin Y-12 IV aircraft, purchased at a cost of US$ 18 million.

The momentous ceremony held at SLAF Base Ratmalana on Tuesday (Dec 05) was graced by the State Minister of Defence Premitha Bandara Tennakoon and the Ambassador of the People’s Republic of China, Qi Zhenhong.

Manufactured by Harbin Aviation Industry Co. Ltd. in China, the acquisition of these state-of-the-art aircraft is expected to play a pivotal role in promoting tourism within Sri Lanka.

Air Force Commander Air Marshal Udeni Rajapaksa said 70% of the total cost has already been paid and the remaining 30% will be settled in installments over the next two years.

In addition to fulfilling operational, search, and rescue needs, the Air Force Commander highlighted the unique capability of these aircraft to support tourism promotion. Each aircraft has a capacity for 15 passengers.

Sri Lanka Air Force said in a statement that these aircraft will be inducted into the No. 8 “Light Transport” Squadron of the Sri Lanka Air Force. The No. 8 Tactical Transport Squadron, renowned as “The Cradle of Transport Pilots,” laid the foundation for this historic occasion on 02 April 1996. Originally equipped with eight Y-12 II aircraft (SCL 851 to SCL 859) inducted in 1987, these aircraft played a pivotal role in various air operations during the local theatre of war.

The formal proceedings on Tuesday commenced with the signing of documents symbolizing the transfer of the Harbin Y-12 aircraft to the Sri Lanka Air Force. Commander of the Air Force, Air Marshal Udeni Rajapaksa and Den Ling from China National Aero Technology Import & Export Cooperation presided over this key moment, marking the official handover.

Addressing the gathering, the Commander of the Air Force, expressed gratitude for the strategic partnership and elaborated on the significance of the new additions to the Sri Lanka Air Force’s fleet. He emphasized the continued commitment to strengthening international collaborations, highlighting the value of the Harbin Y-12 IV aircraft in enhancing the Air Force’s operational capabilities.

In a gesture of appreciation, a memento was presented to the Chief Guest, State Minister Premitha Bandara Tennakoon, to commemorate the historical milestone. Air Marshal Udeni Rajapaksa extended his gratitude to the State Minister of Defence, acknowledging the untiring support in advancing the capabilities of the Sri Lanka Air Force.

State Minister Premitha Bandara Tennakoon, expressed pride in witnessing this significant occasion and reiterated the government’s commitment, guided by the Chief of the Armed Forces and President of Sri Lanka, Ranil Wickremasinghe, to ensuring regional security and stability.

This significant occasion was attended by Senior Advisor to the President on National Security and Chief of Presidential Staff, Sagala Ratnayake, Secretary to the Ministry of Defence, General Kamal Gunaratne (Retd), Chief of Defence Staff, General Shavendra Silva, Commander of the Navy, Vice Admiral Priyantha Perera, Chief of Staff of the SLAF, Members of the Air Force Board of Management, officials of the Embassy of the People’s Republic of China in Sri Lanka, Members of the CATIC from China and representatives of CATIC Sri Lanka, senior officers of the SLAF and other officials.

In a significant development at the 28th Conference of the Parties (COP28) in Dubai, President Ranil Wickremesinghe engaged in a strategic meeting with Mr. Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation (BMGF) today (03), the President’s Media Division (PMD) said.

The discussions revolved around collaborative efforts to address global challenges and enhance Sri Lanka’s pivotal role in the world’s tropical belt.

During the meeting, the Billionaire philanthropist and Microsoft co-founder expressed the commitment of the BMGF to support Sri Lanka in building a robust and climate-resilient nation, the statement said.

The Foundation, which is already involved in initiatives in Sri Lanka, pledged to deepen its engagement with the country. Specific areas of focus include agriculture modernization and the establishment of data systems for agriculture. The collaboration also aims to strengthen Digital Public Infrastructure and enhance Sri Lanka’s expertise in climate and adaptation.

President Wickremesinghe highlighted Sri Lanka’s green initiatives presented at COP28, seeking the support of the BMGF in advancing these sustainable projects. The President emphasized the need for collective action to address pressing environmental issues and underscored Sri Lanka’s willingness to play a constructive role in the global effort.

Accompanying President Wickremesinghe in these high-level talks were Minister of Environment, Dr. Keheliya Rambukwella, Senior Advisor to the President on Climate Change, Ruwan Wijewardena and Secretary to the Ministry of Environment, Dr. Anil Jasinghe. The delegation discussed potential areas of collaboration with the BMGF to ensure a comprehensive and impactful partnership.

--PMD--

Under the e-population documentation program, Sri Lanka issued its first-ever digitized national birth certificate with a barcode on Tuesday (Dec.05).

The launch event was held under the patronage of State Minister of Home Affairs, Ashoka Priyantha at the Kalutara District Secretariat.

Addressing the event, the state minister said the initiative is expected to be expanded beyond Kalutara to other districts soon.

As per the international standards, the number included in this National Birth Certificate will be converted into National Identity Card (NIC) numbers later.

E-population program was introduced to achieve objectives of issuing a unique Personal Identification Number (PIN) at birth for all citizens.

It expects to build a consolidated set of basic information of every citizen of Sri Lanka and create an efficient and reliable life events registration system, increasing the information sharing with government institutions using the population register.

Further, it aims to provide more extensive analytical capability in relation to demographics and health statistics and increasing in coverage of recording life events.

An earthquake with a preliminary magnitude of 7.6 has hit Mindanao, Philippines. The Pacific Tsunami Warning Center said it expected tsunami waves to hit southern Philippines as well as parts of Japan, Indonesia, Palau, and Malaysia.

Meanwhile, a tsunami alert has been issued for western Japan’s Pacific.

The tsunami, which is estimated to be 1 metre high, will likely reach Japan as early as 1:30 a.m. on Sunday (1630 GMT on Saturday), public broadcaster NHK reported.

The officers of Narcotics Control Unit of Sri Lanka Customs have seized a variety of drugs with an estimated street value of around Rs. 43 million during the inspection of several suspicious parcels at the Central Mail Exchange.

During the inspection duties carried out by the relevant officers at the Central Mail Exchange, a total of 25 parcels suspected to contain narcotics were opened for inspection, Sri Lanka Customs said.

Subsequently, approximately 2,193 ecstasy pills (methamphetamine), 1 kilogram and 740 grams of ‘Kush’ Cannabis and 29 grams of Amphetamine were found within the parcels upon inspecting them, according to Sri Lanka Customs.

The parcels in question have been sent from UK and Germany to different addresses in Colombo, Maharagama, Battaramulla, Boralesgamuwa, Panadura, Moratuwa and Kandy. However, the officials have confirmed following investigations that the addresses mentioned in the parcels were fake.

The seized drugs, with an estimated total street value of Rs. 43 million, will be handed over to Police Narcotics Bureau (PNB) for onward legal proceedings, the Sri Lanka Customs said.

In a meeting held on the side-lines of COP28 in Dubai, UAE today (02), President Ranil Wickremesinghe engaged in one-on-one discussions with French President Emmanuel Macron.

The focal point of their conversation revolved around collaborating to facilitate Sri Lanka’s transition to a green economy. President Wickremesinghe specifically urged President Macron to enhance French involvement in the Indian Ocean region through Indian Ocean Rim Association (IORA).

Furthermore, President Wickremesinghe brought attention to the International Climate Change University, underscoring its significance in addressing global climate challenges. In a gesture of cooperation, he extended an invitation to France to actively participate and contribute to the initiatives undertaken by the university.

The University of Kelaniya, excluding the Faculty of Medicine, has been closed until further notice.

Accordingly, all hostels of the university excluding the Medical Faculty’s hostels, will remain closed while all students have been instructed to vacate their respective hostels before 8.00 a.m. on Tuesday (Dec. 05).

The decision has been reached at by the university administration owing to an alleged incident of a security officer of the university being abducted and assaulted while he was sleeping in the break room at night. Later, he had reportedly been tied to the entrance gate at the Student Centre.

The Vice Chancellor of the University of Kelaniya stated that this decision was taken since the peaceful atmosphere which hitherto prevailed among the students and the non-academic staff has been challenged and that therefore disciplinary action will be taken against those responsible in order to re-establish the peace within the university.

Accordingly, he also announced that all the premises related to the University of Kelaniya including the university premises in Dalugama and all other internal and external hostels of the university are hereby forbidden areas for the students, except for the medical faculty students, until further notice.

A total of 13 selected post offices within the Western Province are kept open for 24 hours, Police Media Spokesman SSP Nihal Thalduwa said.

Accordingly, the Borella, Wellawatte, Havelock Town, Dehiwala, Moratuwa, Panadura, Kalutara, Kompannavidiya, Battaramulla, Mt. Lavinia, Nugegoda and Seethawakapura post offices will now operate for 24 hours.

SSP Thalduwa further noted that all fines and penalties imposed by the police can be paid at the aforementioned post offices.

Veteran cinema, theater and television actor Suminda Sirisena passed away this morning (04) at the age of 75.

He had been receiving treatment at a private hospital in Gampaha, according to family sources.

Sirisena has played a wide range of starring or supporting roles and is a recipient of Best Actor award in many award festivals.

In a compelling address at the 28th session of the Conference of Parties (CoP28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Dubai, UAE today (01), President Ranil Wickremesinghe acknowledged the historical significance of the UN Conference on Human Environment, emphasizing its goal to defend and improve the environment for present and future generations. He referenced the alarming findings of the UNEP Report of 2023, titled “Broken Promises,” which warns of a 3-degree Celsius increase in global temperatures by the end of the century.

Highlighting the challenges faced by developing countries, President Wickremesinghe stressed the disproportionate vulnerability and impact due to lower adaptive capacities in Finance, Technology, and Climate investments. He cited the Independent High-Level Expert Group Report on Climate Finance, which underscored the need for at least a US$ Trillion per annum to combat climate change.

The President commended the Government of the United Arab Emirates for hosting the crucial event and expressed gratitude for their warm hospitality

Expressing concern about the lack of concrete measures in the Transitional Committee’s report on funding arrangements, the President called for a more transparent approach, particularly addressing issues of global debt relief. He questioned the wisdom of avoiding contentious issues, emphasizing the urgency of the climate crisis.

President Wickremesinghe advocated for climate justice accessible to all nations and proposed a resolution for a Climate Justice Forum. This forum, agreed upon at the 5th Forum of the Ministers of Environmental Authorities of Asia Pacific, aims to provide a platform for constructive and proactive engagements, with the proposal scheduled for the UN Environment Assembly on 6th February 2024.

Underlining the critical nature of the current period, the President urged immediate action to find effective solutions, thinking outside the box and investing in the Tropical Belt to tackle the Triple Planetary Crisis. The Tropical Belt, covering 134 countries and 44% of the Earth’s surface, holds rich biodiversity and potential for renewable energy. President Wickremesinghe announced plans for a panel to report on the Tropical Belt Initiative, emphasizing its global impact.

As the current Chair of the Indian Ocean Rim Association (IORA), President Wickremesinghe linked the health of the Indian Ocean to climate change. He stressed the need for a sustainable Blue Economy to counter the adverse effects of rising sea levels, ocean acidification, coral bleaching, and extreme weather patterns.

President Wickremesinghe also revealed plans to establish the International Climate Change University (ICCU) for capacity building and advancing research, operationalizing it next year. The ICCU aims to contribute significantly to global efforts to limit global warming to 1.5 degrees Celsius.

In conclusion, President Wickremesinghe’s address at COP28 outlined a comprehensive approach, blending regional initiatives like the Tropical Belt and the Indian Ocean with global measures, reflecting Sri Lanka’s commitment to climate action and leadership on the international stage.

The speech made by the President at the World Leaders Summit of the COP28 is follows;

“Chairperson, Excellencies, Esteemed Delegates, At the outset let me congratulate his highness and the Government of the United Arab Emirates for hosting COP28 and extend to you my gratitude for your warm hospitality.

The UNEP Report of 2023 “Broken Promises” warned that we are facing a 3 degree Celcius increase in global temperatures by the end of the century. It is we; the developing countries are both disproportionately vulnerable and disproportionately impacted due to their lower adaptive capacity when it comes to investments in Finance, Technology and Climate.

The Independent High-Level Expert Group Report on Climate Finance highlighted that at least a Trillion USD per annum is required to combat climate change. The Transitional Committee on the Operationalization of Funding Arrangements in its Report of 4th November 2023 only calls for voluntary contributions to the “Loss and Damage fund”. The Report makes no mention of the funds needed or who the contributors are. It is silent on the issue of global debt relief. These are interconnected’

Nevertheless, four days later, the Technical Dialogue of the First Global Stocktake highlighted the requirements of a minimum of US$ trillion per annum. To arrive at a consensus not to take up a contentious issue is not a solution. Who are we fooling?

Climate justice must be available to all the people and all the countries. In this background, Sri Lanka will propose a resolution for a Climate Justice Forum which was agreed upon at the 5th Forum of the Ministers of Environmental Authorities of Asia Pacific to be moved at the UN Environment Assembly of 6th February 2024.

The Climate Justice Forum will provide us a platform for constructive and proactive engagements. The Secretary General of the UN highlighted, “The era of global boiling has arrived”. The enemy is at the gates. We are still procrastinating. We are still forming our battalions to take the fight to the enemy. Therefore, this fortnight is critical.

It will determine whether we are capable of providing a leadership. Let us prove we can do so by action and delivery.

Sri Lanka is committed to the 1.5 degree Celcius limit. We are facing a drastic situation to await the disaster. We must think outside of the box. We must Invest in the Tropical Belt to tackle the Triple Planetary Crisis.

The Tropical Belt constitutes 134 countries covering 44% of earth’s surface, and will by 2030s be home to roughly 50% of world’s population. Most of the world’s remaining primary forests are tropical, along with its coral reef systems. The rich biodiversity of the Tropical Belt enhances biological carbon sequestration and can shield the world from instabilities in weather.

Furthermore, the energy generation potential from solar, wind and biomass are significantly higher in the tropics than that of other areas on the earth. Yet, anthropogenic activities in the Tropical Belt can easily lead to an imbalance in the equilibrium of this region.

So much so that some scientists predict that the Tropical Rain Belt could shift away from the Equator by the 22nd Century. Large scale investments in Renewable Energy, Pollution Control and Nature-based Solutions will lead to significant transformative changes in the entire world by enhancing carbon sequestration.

Therefore, Sri Lanka and other concerned countries will convene a panel to report on the Tropical Belt Initiative. A multi sector plan distributed not only among the whole tropical region but the whole world. As the current Chair of the Indian Ocean Rim Association (IORA), Sri Lanka is focusing on the interdependence between the Indian Ocean and climate change.

A healthy ocean generates oxygen and absorbs the carbon and heat produced from global warming. Mangroves and sea grasses sink more carbon than land forests. However, the rapid climate change is altering the marine environment with rising sea levels and temperatures, Ocean acidification, coral bleaching, habitat destruction and extreme weather patterns. These phenomenon have a direct impact on human lives by disrupting ocean biodiversity, the Ocean dependent food patterns, and coastal livelihoods. Member states and partners of IORA will work towards ensuring a sustainable, Indian Ocean for future generations.

The Tropical Belt initiative and the Indian Ocean IORA program combined will form the largest global sink for carbon sequestration. Addressing the climate change need, up to date scientific knowledge, and the effective use of these findings

Therefore, at COP27, I proposed to establish an International Climate Change University (ICCU) for capacity building and advancing research, necessary to contribute to the crucial efforts to limiting global warming to 1.5 degrees Celsius. We will be operationalizing the International Climate Change University (ICCU) next year.