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Acting Minister of Finance, Shehan Semasinghe speaking to reporters on Monday (19) said that the government has not made a final decision regarding the domestic debt optimization program.

Minister Semasinghe further emphasized the sensitivity surrounding the optimization of domestic debt and assured that the government is approaching this issue with utmost responsibility.

Expressing his views, Minister Shehan Semasinghe further said;

“No final decision has been made yet on the domestic debt optimization program. However, as a government, we always approach sensitive issues responsibly. President Ranil Wickremesinghe also addressed the matter of domestic debt optimization in Parliament. The Central Bank and the Ministry of Finance have provided clarifications on their stance. Our focus is on finding solutions for optimizing the banking and financial system of our country without negatively impacting stability, which is crucial. Consequently, various information and announcements are being released within the country.

Once the government reaches a final decision, we are prepared to inform both the parliament and the public. This is an extremely sensitive matter that significantly influences the market situation. Therefore, it is vital that we refrain from making statements that create doubts regarding this optimization, as it helps maintain stability in our financial market. We must all act responsibly in this regard. Following the President’s visit to France, we anticipate gaining a better understanding of these issues, particularly concerning the restructuring of foreign debt.

There have been criticisms on the political platforms concerning the current economic program implemented by the government. However, if the groups criticizing had a need or a plan, and possessed the capability, they would have an opportunity to confront that challenge. Only President Ranil Wickremesinghe has accepted that challenge. He has communicated to the people the progress made by the country since assuming office as President. While the leaders responsible for meeting the needs of the people fulfils their duties, those who have not taken on this responsibility continue to make various statements. Specifically, the JVP platform has expressed various opinions regarding the management of the economy. However, none of these statements present any practical ideas or programs for building the country.

The aim is to find a solution to the economic crisis without relying on the intervention of the International Monetary Fund (IMF). The government seeks to address the challenges and overcome the crisis through its own program, without external financial assistance. The specific solution that does not involve the IMF’s intervention is not mentioned.

While there are claims of providing a solution without IMF support, it is implied that such claims may lack substance. The challenging times we have faced are gradually coming to an end, and there is a belief that better progress will be achieved through the government’s program.

The IMF predicts a decrease in the negative growth rate from -7.8 to -3 by the end of the year. However, the government’s commitment and efforts are expected to lead to positive developments in 2024.

The government has achieved more results than anticipated thus far, and it is important to maintain the commitment made by the government.

The country’s progress in terms of transparency, combating corruption, and addressing fraud has gained international attention. The parliamentary week, which begins today, is expected to enhance confidence in Sri Lanka’s economy, administrative structure, and financial system. The Budget Office Bill and an Anti-Corruption Bill will be debated and passed in parliament, contributing to the country’s progress.

Passing these bills is crucial to boost the strength of the country’s financial market and attract investments. It may also lead to a change in rating agencies’ opinions about Sri Lanka. The first review with the IMF in September will showcase the progress made and the current program being implemented. Alternative measures have already been taken to address the slight decrease in income levels. Overall, the economic process is being successfully implemented in the country, though it may take some more time for the people to feel its effects.

As a government, we are committed to advancing this program. Any opposition or attempts to destabilize the political and social stability established can have consequences worse than those experienced during the weak economy of the previous year. Despite short-term challenges, we need everyone’s support to steer the country onto a new path, ensuring a clear future and preventing similar crises from occurring again.

Two groups exist in the country: one that capitalizes on the people’s suffering during the economic crisis to advance their political goals, and another that genuinely supports the government’s efforts to overcome the crisis. Some individuals attempt to spread misinformation and false news. As a government, we strive to provide accurate information based on correct data and statistics to enable people to make informed decisions.

Source: PMD

President Ranil Wickremesinghe today (June 16) called for the expedition of the repair work on the stretch of road between Orugudawatta and Ambatale, also known as the Low-Level Road, and complete it within three months.

He gave necessary directives to respective departments during a progress review discussion at the Presidential Secretariat this morning.

The Head of State has emphasized the need for a thorough examination of the issues causing delays in the project and urged the authorities to promptly address these problems, according to the President’s Media Division (PMD).

Implemented by the Road Development Authority (RDA) with foreign aid, the entire stretch of road spans over 7.7km. As of May 2023, the physical progress of the first phase of construction was at 85%, while the second phase stood at 80%.

The project, which commenced in January 2016, was originally scheduled for completion in 2020. However, due to challenges faced by the contractor company, issues related to compensating residents for relocation, complications arising from water pipes along the road, and various other general problems, the project experienced significant delays, the PMD explained.

Thus, the President decided to engage in an extensive discussion regarding the inability to meet the stipulated deadline.

Attending the discussion were Ministers Bandula Gunawardena, Jeevan Thondaman, and Member of Parliament S.M. Marikkar, as well as President’s Secretary Saman Ekanayake, President’s Senior Adviser on Economic Affairs Dr. R.H.S. Samaratunga, Secretary of the Ministry of Transport and Highways Priyantha Mayadunna, Secretary of the Ministry of Water Supply and Estate Infrastructure Development R.M.W.S. Samaradivakara, heads of relevant line agencies, and representatives from the contracting company involved in the project.

The All-Ceylon Bakery Owners’ Association has reduced the price of a 450g loaf of bread and other bakery products by Rs. 10 each.

The price reduction comes into effect at midnight today (June 20).

An extraordinary gazette was issued informing the closure of liquidation of the Department of Telecommunication and Internal Trade Department.

The gazette was issued by the Ministry of Finance, Economic Stabilization, and National Policies.

The Indian naval submarine ‘Vagir’, the latest indigenous Kalvari-class submarine of the Indian Navy, on June 19, began its four-day visit to Sri Lanka at the same time a Pakistan naval ship docked here.

The Indian High Commission said its operational visit is to commemorate the ninth edition of International Day of Yoga (IDY) under the theme of “Global Ocean Ring”.

The Commanding Officer of the Indian Naval submarine, Commander Divakar. S will call on Commander Western Naval Area, Rear Admiral Suresh De Silva. Further, during the submarine’s visit, the vessel would be open for visitors and school children.

The High Commission of India in coordination with Swami Vivekananda Cultural Centre is scheduled to organize a grand event at Colombo Port to celebrate IDY on 21 June 2023 with the participation of senior defence hierarchy and personnel from Indian and Sri Lanka Navies, the mission said in a press release.

The Indian naval ships Delhi, Sukanya, Kiltan, and Savitri have previously visited Colombo.

Visits by Indian Navy ships and submarines in Sri Lanka aim to foster brotherhood and togetherness between the two neighbouring navies in keeping with India’s vision of ‘Neighbourhood First’ policy and ‘Security and Growth for all in the Region (SAGAR)’, the release said.

Meanwhile, the Sri Lankan Navy said ‘Tippu Sultan’, the Pakistani naval ship, also arrived at the port of Colombo on June 18 on a two-day visit.

‘Tippu Sultan’ is a 134.1 metre-long warship manned by a crew of 168 persons, the Navy said.

The Navy said this is the first visit to Colombo by a submarine since a Chinese submarine docked in 2014.

Source – PTI

An online passport system soothing applicants to apply online for their passports is now operational covering the 25 districts of the island.

The new online application system is operational at the Divisional Secretariat level, with 50 Divisional Secretariats islandwide.

Having the new system operational, it is no longer necessary to visit the Office of the Department of Immigration and Emigration in Battaramulla, Colombo, and applicants can submit their passport applications, fingerprints and photographs at the sub-offices of the Department of Registration of Persons located in their respective districts.

The initiative will be declared official this (15) afternoon at the Homagama Divisional Secretariat under the patronage of President Ranil Wickremesinghe and Public Security Minister Tiran Alles.

Below is the list of Divisional Secretariat Offices where the sub-offices of the Department of Registration of Persons are established covering the 25 districts of Sri Lanka.

Former Foreign Minister Rohitha Bogollagama appointed as Sri Lanka’s High Commissioner to the United Kingdom (UK) with effect from 01 August 2023.

He had served as the Cabinet Minister of Foreign Affairs from 28 January 2007 until he was defeated in the General Elections held on 8 April 2010, losing his seat in parliament.

Bogollagama also briefly served as the Governor of the Eastern Province from July 2017 to December 2018.

The Department of Examinations announced that the Grade 5 Scholarship examination will take place on the 15th of October 2023.

The Commissioner General of Examinations, Amith Jayasundara, said that applications will be accepted from 15th June to 6th July.

The Department of Examinations said that the deadline for accepting nominations will NOT be extended under any circumstance.

Applications can be submitted online before the 6th of July 2023.

Wheat flour has been listed under the category of ‘specified goods’, by way of an Extraordinary Gazette notification issued by the Minister of Trade, Nalin Fernando.

Accordingly, wheat flour was brought under the category of specified goods with effect from midnight on 16 June, as it is an essential commodity to the people.

This has been prescribed under Section 18 of the Consumer Affairs Authority Act No. 09 of 2003 (Amended).

Meanwhile, Liquefied Petroleum (LP) gas, which was included as a specified good by way of a Gazette published on 08 July 022, will be excluded from the list of Specified Goods.

The Supreme Court today (June 15) refused to grant leave to proceed with two fundamental rights (FR) petitions filed against the restructuring of Sri Lanka Telecom (SLT) PLC.

The petitions had been filed by Sri Lanka All Telecommunication Employees’ Union president J.B. Gurusinghe, its secretary H.K. Hettiarachchi and the president of SLT Samagi Sewaka Sangamaya president Indika Priyadarshana.

Following a lengthy trial, the Supreme Court’s three-judge bench comprising, Justices Murdu Fernando, Kumudini Wickamasinghe and Priyantha Fernando, decided to dismiss the two petitions.

The SLT trade union leaders, in their petitions, had deemed the decision taken by the Cabinet of Ministers to divest the government-owned shares in the SLT a violation of fundamental rights.

When the petitions were called before Supreme Court today, Deputy Solicitor General Rajeeva Gunathilake told the judge bench that the Cabinet of Ministers, in March 2023, gave its approval to go ahead with the restructuring of SLT, adding that the proposal was also green-lighted in the budget speech delivered by the President in his capacity as the Finance Minister.

He also deemed the concerns raised by the petitioners, about the potential threats to the national security posed by privatization of SLT, baseless.

The Deputy Solicitor General went on to note that the move would not be prejudicial to the shareholders nor the subscribers of SLT, as mentioned in the petitions, and requested the judge bench to refuse to grant leave to proceed with the two FR petitions.

Later, President’s Counsel Romesh de Silva presented submissions on behalf of Sri Lanka Telecom.

Sri Lankan Dev Kawsala Samarajeewa’s entry has won the ‘women in aviation multimedia engagement contest’ organized by the International Civil Aviation Organization (ICAO).

Samarajeewa overcame challenges by 11 other finalists from France, Philippines, Argentina, USA, Turkey, Slovenia, Ireland, Serbia, Kenya, Canada and Seychelles in an online selection process.

His entry secured 28,000 likes, while entries from Argentina with 4,800 likes and Turkey won the second and third places respectively.

Samarajeewa will receive an invitation and financial support to attend the Global Aviation Gender Summit scheduled to take place from 5 to 7 July, as well as a certificate of acknowledgement.

His entry secured 28,000 likes, while entries from Argentina with 4,800 likes and Turkey won the second and third places respectively. Samarajeewa will receive an invitation and financial support to attend the Global Aviation Gender Summit scheduled to take place from 5 to 7 July, as well as a certificate of acknowledgement.

The Attorney General today informed the Court of Appeal that the Criminal Investigations Department (CID) is conducting investigations against Pastor Jerome Fernando under the Money Laundering Act.

Senior State Counsel Shaminda Wickrama, who appeared on behalf of the Attorney General, informed the court of this when the writ petition filed by Fernando, requesting the issuance of an order to prevent his arrest, was taken up for consideration today (15).

The writ petition was taken up today before the Appellate Court bench consisting of Justices Sobitha Rajakaruna and A. Marikkar.

The Senior State Counsel who appeared on behalf of the Attorney General, raised these preliminary objections and requested that the relevant petition be dismissed without being taken up for hearing.

The senior state counsel charged that through this petition, the petitioner has concealed facts from the court as well as presented facts that mislead the court.

He said that the petitioner has stated in the petition that there are preparations to arrest him based on media reports and also that his accusation is entirely based on media reports.

The senior state counsel informed the court that the petitioner had filed a fundamental rights petition with this request before the Supreme Court, but that fact has been concealed in this petition.

The senior state counsel providing further information said that an investigation will be conducted regarding this petitioner under the Money Laundering Act.

Senior state counsel Mr. Shaminda Wickrama alleged that the malicious actions of the petitioner are revealed through this petition and therefore requested the court to dismiss it without issuing a notice for hearing.

However, the further consideration of the petition was adjourned until June 19 while President’s Counsel Jagath Wickramanayake is scheduled to present the facts on behalf of the petitioner on that day.

On Monday (12), the Court of Appeal had granted time for the Attorney General to file objections in relation to the writ petition filed by Pastor Jerome Fernando.

Senior State Counsel Shaminda Wickrema, appearing on behalf of the AG, had strongly objected to Pastor Jerome’s request, when the petition was taken up for consideration on June 12.

Accordingly, the court granted time until June 14 for the AG’s Department to submit the relevant objections, and ordered the case to be recalled today (June 15).

Pastor Fernando, in his petition filed through his attorneys, alleges that the CID is preparing to arrest him, accusing him of having committed an offence under the International Covenant on Civil and Political Rights (ICCPR) through a statement he made during a religious sermon.

Thus, he had filed this writ petition seeking an order to prevent his arrest.