News

SL embassy in Russia, in talks for long-term Credit Line

Published

2 years ago

October 19, 2022

editor

The Embassy of Sri Lanka in Moscow has announced that a productive discussion was held on Oct. 17 with the Russian Government on the possibility of obtaining a long term credit line in order to procure fuel to Sri Lanka.

In a statement, the embassy states that the Sri Lankan ambassador to Russia – Prof. Janitha A. Liyanage attended this discussion representing Sri Lanka and emphasised the significance of such a credit line to Sri Lanka to procure fuel, especially at this trying time.

The mechanism of the said credit line and the modality to procure fuel from the Russian Federation were discussed at length with the Ministry of Finance of the Russian Federation.

From the Russian Government, Deputy Minister of Finance of the Russian Federation – Mr. Maksimov Timur, the Ambassador of the Russian Federation to Democratic Socialist Republic of Sri Lanka – Mr. Levan Jagaryan, and a few officials representing the Ministry of Finance and the Ministry of Foreign Affairs had been present at the discussion.

This Embassy is of the view that this credit line facility will play an important role to make adequate fuel supplies available to Sri Lanka at a competitive price in the months to come.

News

India to cover tax costs for Sri Lanka-India passenger ferry service

Published

16 mins ago

May 5, 2024

editor

The Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year for the passenger ferry service between Nagapattinam in India and Kankesanthurai (KKS).

The passenger ferry service, which was launched in October 2023 by the Shipping Corporation of India (SCI), will tentatively resume on May 13, 2024. It will be operated by a private operator, IndSri Ferry Services, selected by SCI in consultation with the Government of Sri Lanka (GOSL).

In order to make the service affordable and attractive for passengers, the Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year.

Similarly, the GOSL has reduced the deviation tax currently charged from passengers leaving Sri Lanka by passenger vessels and ships.

It should be recalled that the Government of India has also extended a grant assistance of USD 63.65 million to the GOSL for the rehabilitation of the KKS Harbour, which was earlier envisaged to be undertaken under a Line of Credit.

(dailymirror.lk)
(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

News

China Pledges Full Support for Sri Lanka’s Debt Restructuring

Published

1 day ago

May 4, 2024

editor

State Minister of Finance Shehan Semasinghe has met with the Chinese Vice Minister of Finance Liao Min.

This meeting was held on the sidelines of the ADB annual meeting in Georgia.

Minister Semasinghe said on X ”at this discussion China assured its fullest support and cooperation to conclude the debt restructuring process in Sri Lanka.”

Furthermore, he said that China reaffirmed steadfast support to Sri Lanka on all fronts.(news first.lk)