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Import restrictions on another 300 items will be relaxed soon, State Minister of Finance Ranjith Siyambalapitiya announced today.

The State Minister stated that the import restrictions will be relaxed by the first week of September.

The Government last lifted import restrictions on 328 items on July 20, 2023, following the relaxing of import restrictions on over 240 items earlier on June 10, 2023.

The government imposed a ban on several items as a part of its prolonged stringent import restrictions from March 2020 due to the coronavirus pandemic.

The ban on imports continued due to the economic crisis until as recently as November last year after which the government took measures to relax import restrictions on several goods in batches.

President Ranil Wickremesinghe has issued a special gazette notification, amending the portfolios of several ministries.

Sahasya Investment Ltd. and the National Equipment and Machinery Organization are now under the purview of the Minister of Finance, Economic Stabilization & National Policies, having previously been under the Ministry of Transport & Highways and the Ministry of Urban Development & Housing, respectively.

The cultivation of maize for animal feed within the country will now fall under the responsibility of the Minister of Agriculture, while the Minister of Plantation Industries will no longer oversee the cultivation of maize required for Thriposha production and animal feed. The changes were dated Monday, July 31.

President Ranil Wickremesinghe stressed the government’s financial accountability to Parliament, making it clear that they will only adhere to the instructions and orders of the Parliament in the debt optimization program.

He asserted that he is committed to preventing the country from descending into anarchy by avoiding out-dated political practices, and he remains devoted to developing Sri Lanka, the President’s Media Division (PMD) reported.

These statements were made during the 29th annual meeting of the Coconut Growers Association, held today (04) at the Sri Lanka Foundation Institute. At the event, President Ranil Wickremesinghe expressed gratitude for the invitation to attend and acknowledged the historical significance of coconut cultivation for Sri Lankan businesses. He highlighted that until 1970, the Sinhalese people held a significant amount of coconut land, but this changed with the land reform of 1972-73, leading to a decline in the capital of Sinhala businessmen.

He further mentioned that during the presidency of J.R. Jayawardena, efforts were made to develop the coconut industry with assistance from the Asian Development Bank. However, he acknowledged that the coconut industry’s progress over the last 50 years has not been satisfactory, contrasting it with other countries such as Brazil and Vietnam that have rapidly advanced in coconut cultivation, the PMD said.

President Ranil Wickremesinghe emphasized the current situation of coconut farmers in Sri Lanka, with 82% of them owning less than 20 acres of land, while only 18% are engaged in large-scale cultivation. Comparatively, India, which started coconut cultivation with approximately 20 million acres of land in 1950, now has around 45 million acres dedicated to coconuts.

He pointed out the significant difference in coconut yield between Sri Lanka and neighbouring regions like Tamil Nadu, Telangana, and West Bengal. While Sri Lanka’s coconut production stands at 7000 nuts per acre, these regions are achieving much higher yields, such as 11,400 coconuts per acre in Tamil Nadu and 10,000 coconuts per acre in Telangana, it added.

President Ranil Wickremesinghe’s address at the event indicated his concern for the coconut industry’s development in Sri Lanka and his commitment to fostering progress in the sector to match the advancements seen in other countries.

In the Andhra region, coconut cultivation yields approximately 15,000 coconuts per acre, which is twice the output we achieve here.

A proposal has been put forth to merge three coconut-related institutions, and it seems appropriate to combine the Coconut Research Institute with the Agricultural University, thereby streamlining the process.

The government has already initiated an agriculture modernization program with the aim of creating a highly competitive economy through agriculture. To achieve this, we must also focus on advancing the coconut industry. Increasing coconut production and marketing it effectively are crucial. Relying solely on price control will not lead to successful business development. Instead, the key lies in boosting production and enhancing the value of coconuts.

Investments should be encouraged in the coconut industry. Currently, 55% of total coconut production comes from the Coconut Triangle, and the plan to establish a second coconut triangle in dry areas is a promising step forward.

Despite the country’s financial challenges, the current government possesses the capability to address these issues and move forward. Loan optimization activities are underway, and discussions have taken place with leaders from various countries. The goal is not to default on outstanding loans but to gain more time to repay them while finding ways to pay off debts incurred for necessary imports. This necessitates a shift towards a highly competitive export economy.

The loan optimization work is in progress, with proposals presented in the cabinet and discussions held with the International Monetary Fund and major creditor countries. After parliamentary discussions and amendments, the proposal has been submitted for acceptance. The State Finance Committee of the Parliament has actively participated in this process, working diligently regardless of party differences.

The President expresses gratitude to the State Finance Committee for their support and hopes that the opposition would also back the initiative. Regrettably, internal issues between opposition parties have hindered their support, but the President remains thankful for the backing received from everyone. The aim is to complete the loan optimization work by September or October this year, according to the PMD.

Despite not receiving support from the opposition initially, many members from opposition parties later backed the continuation of this program without objection. However, some groups sought to disrupt the program, resorting to street protests, which were ultimately unsuccessful in garnering public support. Now, they are attempting to utilize the court for their political agenda, seeking prohibitory orders.

Halting this program could have negative consequences, as foreign countries might be less inclined to engage in business with us. The country is already facing issues such as fuel pollution and farmers losing access to necessary fertilizers, it said.

The control of public finances lies with the Parliament, and this program has already been approved by it. The Parliament, being the custodian of the sovereign power of the people under Article 04 of the Constitution, exercises all the necessary powers. The government operates within the framework set by the laws of the Parliament, and decisions can only be changed or continued with the Parliament’s notification.

The President emphasizes the need for unity in moving the country forward and warns against the destructive influences of old politics. He is committed to the responsibility of developing the country and works in tandem with the Parliament, particularly in the loan optimization program, where their accountability lies.

Minister Ramesh Pathirana highlighted the significant increase in coconut export income in recent times, driven by the growing demand for various coconut products like milk, substrate, and activated carbon.

This year, exports related to coconut products are expected to generate 700 million dollars, and the goal is to achieve a 2 billion dollar export income within the next decade. To support this, a second coconut triangle is planned to be established, covering areas in the Northern Province like Jaffna-Point Pedro, Mannar, and Mullaitivu, the PMD said.

Currently, two-thirds of coconut production is utilized locally, leaving only one-third for exports. The plan is to increase opportunities for exports by altering this situation.

The event was attended by the President of the Coconut Growers Association, Jayantha Samarakoon, Secretary Shakila Wijewardanayana, and many others, according to the PMD.

The Vavuniya Prison was temporarily closed after four inmates were diagnosed with measles.

Prisons Spokesperson and Administrative Chandana Ekanayake speaking to News 1st said that inmates are not allowed to meet with relatives, and visitation opportunities have been suspended.

He added that the process of moving prisoners for court cases was also suspended.

The Prisons Commissioner said the decision was reached in order to prevent an outbreak in the Vavuniya Prison, which houses over 400 inmates.

He said the premises will be off limits until the 8th of August 2023.

The founder of the SANASA Movement, Dr. P. A. Kiriwandeniya has been appointed as the Chancellor of Wayamba University.

According to the President’s Media Division (PMD), the appointment has been made by President Ranil Wickremesinghe.

Dr. P. A. Kiriwandeniya has been appointed as the Chancellor of Wayamba University for a period of five years with immediate effect.

He began his professional career as a teacher after having obtained a Social Science Degree from Vidyodaya University and subsequently worked as the Director of Education at Sarvodaya Movement and Deputy Director of the National Heritage Programme.

He is a renowned professional who held several key positions as the Chairman of the Asian Confederation of Credit Unions (ACCU), Vice Chair of the Asia and Oceania Association (AOA) of the International Cooperative and Mutual Insurance Federation, Director of People’s Bank, Regional Development Bank, Sri Lanka and President of the National Institute of Cooperative Management and National Cooperative Council of Sri Lanka.

Veteran journalist, actor and dubbing artiste Lal Sarath Kumara has passed away aged 69.

He had suddenly fallen ill this morning (01) and died, reports said.

Minister of Foreign Affairs Ali Sabry is scheduled to undertake an official visit to the Islamic Republic of Iran from 04 – 07 August 2023.

According to the Ministry of Foreign Affairs, Minister Ali Sabry will visit Iran on an invitation extended by his Iranian counterpart, Dr. Hossein Amir Abdollahian.

During the visit, the Minister is scheduled to pay a courtesy call on the Iranian President Dr. Seyyed Ebrahim Raisi.

He is scheduled to hold meetings with the Iranian Foreign Minister Dr. Hossein Amir Abdollahian and other senior government officials, with a view to further strengthening the close relations between the two countries.

Minister Ali Sabry is also scheduled to deliver a speech at the Institute of Political and International Studies of Iran during his short visit.

Japan’s Minister of State in the Cabinet Office, Mr. Satoshi Fujimaru and former Minister of State for Regional Revitalization and Regulatory Reform, Mr. Kozo Yamamoto called on President Ranil Wickremesinghe at the Presidential Secretariat today (31).

During the meeting, they discussed the stalled development projects in Sri Lanka, which were previously supported by the Japanese Government, the President’s Media Division said.

The parties agreed to restart these projects once the credit optimization process in Sri Lanka is completed. Additionally, they decided to involve officials from the Japanese Embassy in Sri Lanka in conducting an investigation related to these projects, the statement said.

The Japanese delegation, including Mr Mizukoshi Hideaki, Ambassador of Japan to Sri Lanka, President’s Senior Advisor on National Security and Chief of Staff Mr Sagala Ratnayaka, and President’s Senior Adviser on Economic Affairs Dr. R.H.S. Samaratunga, among others, attended this event.

The Extraordinary Gazette notification pertaining to the revision of water tariffs has been published, thereby increasing the water tariffs with effect from August 01.

The notice was issued by the Minister of Water Supply and State Infrastructure Development, Jeevan Thondaman, under Section 84 of the National Water Supply and Drainage Board Law No. 02 of 1974.

Water tariffs have been increased by this revision based on the number of units used. However, it is stated that there has been no increase in the water tariffs of Samurdhi beneficiaries and estate houses in this tariff revision.

The water tariff for all other sectors has been increased and the domestic water tariff has also been increased from Rs. 20 per unit for the first 05 units to Rs. 60 per unit in the new tariff revision.

Meanwhile that the water tariffs of public water taps, garden water taps, government schools, religious places, government-approved charities, government institutions and government hospitals have also been increased in this year’s tariff revision.

In addition to raising the tariff charged for a unit, the monthly service charges has also been raised in this revision.

The water tariffs were last increased on the 01st of September 2022.

In addition to the water tariffs, the sewerage charges of the consumers have also been revised with effect from 01 August 2023.

Accordingly, the water tariff has been increased as follows:

Domestic use:

0 - 5 unit charge Rs.60 & monthly charge Rs.300

6 - 10 unit charge Rs.80 & monthly charge Rs.300

11 - 15 unit charge Rs.100 & monthly charge Rs.300

The National Water Supply a... by Adaderana Online

Approval has been granted for the importation of chicken for food industrial purpose, Minister of Trade, Commerce and Food Security Nalin Fernando announced today.

Minister Nalin Fernando stated that approval had been granted by President Ranil Wickremesinghe.

He further stated that the decision to import chicken has been taken in order to control prices.

The Minister of Trade, Commerce and Food Security made the remarks while addressing a media briefing in Colombo today.

The Central Bank of Sri Lanka (CBSL) issued a statement on Wednesday (2) to clarify certain misrepresentations of facts currently circulating in the public domain on Indian Rupee (INR).

CBSL from time to time, authorises selected foreign currencies as designated foreign currencies with a view to facilitating international trade and cross-border banking transactions.

Commencing May 1979, CBSL has occasionally recognised designated foreign currencies. Currently, following16 currencies have been authorised as designated foreign currencies under the provisions of the Banking Act and the Foreign Exchange Act, with the latest inclusion being the INR in August 2022.

List of designated foreign currencies

Australian Dollar Canadian Dollar Chinese Renminbi Danish Kroner Euro Hongkong Dollar Indian Rupee Japanese Yen New Zealand Dollar Norwegian Kroner Pound Sterling Singapore Dollar Swedish Kroner Swiss Franc Thai Baht United States Dollar

The main purpose of authorising foreign currencies as designated foreign currencies is to promote trade and investment relations between the two countries. Further, it would reduce the additional transaction costs associated with dual conversion and will support promoting trade transactions through the formal banking channel. The legal tender in Sri Lanka for domestic payments and settlements will remain as Sri Lanka Rupees (LKR).

Trade between Sri Lanka and India has grown rapidly after the Indo-Sri Lanka Free Trade Agreement which came into force in March 2000. In view of the expanding economic activities between India and Sri Lanka, particularly in promoting existing trade relations between the two countries, on several occasions CBSL has communicated to the Reserve Bank of India (RBI), the Monetary Authority of India, its willingness to authorise INR as a designated foreign currency in Sri Lanka. Accordingly, in August 2022, with the concurrence of RBI, INR was authorised by CBSL as a designated foreign currency in Sri Lanka. However, the use of INR as a designated foreign currency in Sri Lanka is subject to any restrictions imposed by RBI.

Authorising INR as a designated foreign currency would bring many advantages to Sri Lanka including the facilitation of smooth banking transactions relating to INR especially for small-scale traders, encouraging traders to use banking channels for trade transactions over informal channels, reducing additional transaction costs associated with the dual conversion of INR into USD and thereafter into LKR and vice-versa. Moreover, since India remains a large source country for tourism in Sri Lanka, authorising INR as a designated foreign currency for banking transactions would add more convenience to Indian tourists.

The authorisation of INR as a designated currency does not make INR a legal tender in Sri Lanka for domestic payments/settlements. Any transaction executed between or among residents in Sri Lanka shall be in LKR, being the legal tender in Sri Lanka.

Accordingly, CBSL requests the public not to be misled by the misrepresentation of facts circulating in the public domain on INR.

French President Emmanuel Macron said that the French Government is ready to provide the maximum support to complete the debt restructuring process in Sri Lanka as well as encourage all other partners to expidite the debt restructuring process.

He stated this when he arrived in Sri Lanka on Friday night.

The French delegation, including the French president, arrived at the Katunayake Airport, in three planes of the French government, at around 11.35 pm on Friday.

The French President arrived in Sri Lanka after the his visit to Papua, New Guinea.

A group including President Ranil Wickremasinghe and Minister of Foreign Affairs Ali Sabry, arrived at the Bandaranaike Airport premises to welcome and hold a discussion with the French delegation.

According to the Presidential Media Division, President Ranil Wickremesinghe and President Macron held a friendly and productive bilateral discussions to enhance and elevate the existing relations between Sri Lanka and France.

Attention has been given to improve the relations between the two countries in specific fields.

These fields include, establishing an educational institute to develop maritime safety and security, the establishment of a French agency for development in Sri Lanka, initiating high - level diplomatic dialogue, improving the cooperation in the field of education and improving efforts to curtail human trafficking in the ocean.

Minister for Europe and Foreign Affairs of France, Catherine Colonna, Minister of State for foreign affairs Philippe Vigier and Jean-François Pactet, Ambassador of France to Sri Lanka and the Maldives, were among the delegation that visited Sri Lanka.

In a tweet the French President revealed that he was working to begin a new era for the partnership between Sri Lanka and France and thereby strengthen the 75-year diplomatic relations between the countries.

The French President and the delegation remained at the airport terminal for about 2 hours and then departed for Paris at 01:44 AM.