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Govt. to implement Trade Adjustment Program

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The President emphasized on the need to gradually liberalize the service sector to attract Foreign Direct Investment into the country and to take steps to gain membership in the Regional Comprehensive Economic Partnership (RCEP).

President Ranil Wickremesinghe made these remarks during his meeting with the officers of the National Trade Negotiations Committee at the Presidential Secretariat on Friday (04).

The President instructed the officers at length about free trade negotiations as well as the future outlook of international trade and on aligning policy priorities in this regard.

He further stated that in parallel to the expansion of international trade activities, the government will implement a Trade Adjustment Program to support the local industries to further adjust with competition.

Access to regional and global supply chains and re-engagement with the global economy to enhance export and export-oriented foreign direct investment is an element of the government’s economic reform program to revitalize the domestic economy.

Accordingly, while further penetrating into the main export markets of USA and Europe, the government is currently engaged in an effort to establish comprehensive free trade agreements targeting large and emerging economies in order increase exports.

For this purpose, the government has taken steps to establish a National Trade Negotiation Committee (NTNC) and the main task of this committee is to revive the negotiations of free trade agreements with strategic importance to India, China and Thailand markets where large foreign direct investment and export potential is prevalent and local industries affected by the economic crisis can obtain capital inputs, raw materials and intermediate goods at a lower cost.

The Secretary to the President and the Secretary of the Ministry of Trade, Commerce and Food Security as well as officials from the Ministry of Foreign Affairs, the Attorney General’s Department, the Treasury, and the Department of Commerce and senior officials from the line Ministries and several others attended this meeting.

President Media Division (PMD)
06.11.2022

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Legitimacy of SJB questioned!

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It has been reported that a group in the government ranks is attempting to file a case with the Supreme Court over the legitimacy of the main opposition party – Samagi Jana Balawegaya (SJB).

In the backdrop of the SC ruling that Diana Gamage is not legally qualified to hold a Parliamentary seat as she is a dual citizen, this group is pointing out that such an individual cannot register a political party.

Speaking in Parliament yesterday (May 08), Minister Kanchana Wijesekera also raised this point saying that the validity of the SJB is now questionable as Gamage had registered the party.

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2 retired military officers arrested 

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A retired Major General and a Sergeant Major who were involved in an organized racket of sending retired military personnel as mercenaries to Russia have been arrested by the officers of the Trade, Smuggling and Maritime Crime Investigation Division of the Criminal Investigation Department yesterday (8) night.

Information from the Criminal Investigation Department stated that the Major General called Prasanna Ranawaka was an Army division Commander who retired from military service in 2022 and the Sergeant Major was a person named Sarath Wijesinghe.

Following a long investigation by the CID regarding this racket, the Major General and the Sergeant Major have been arrested.

These two suspects are residents of Kurunegala.

It is alleged that more than 500 retired military personnel have been sent to Russia as mercenaries and they have been promised high salaries and even citizenship in Russia, in some instances.

Investigations have now revealed that retired soldiers from this country have been taken and sold to the mercenary army after promising them jobs in Russian military camps.

Information has surfaced that six Sri Lankan’s have died and more than 25 people have been injured due to the Ukrainian attacks.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

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President calls for unified environment, climate change law

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President Ranil Wickremesinghe emphasized on-going efforts to enact unified legislation addressing environmental protection and climate change. He highlighted the government’s commitment to crafting economic policies geared not only towards fostering export-oriented competitiveness but also towards transitioning to a green economy, aiming to achieve net-zero by 2050. 

Acknowledging the recent prolonged spells of extreme climate conditions as indicative of future climate change impacts, the President stressed the urgency of addressing climate mitigation measures promptly. 
He made these remarks while addressing the inaugural session of the Sri Lanka Climate Summit which commenced yesterday (07) at the Shangri-La, Colombo.

The inaugural Sri Lankan Climate Change Conference, hosted by the Sri Lanka Chamber of Commerce, commenced yesterday under the theme “Climate Action for our Nation and the Planet.” Scheduled to run until May 09, the summit aims to foster a comprehensive understanding of the multifaceted climate crisis, both from a global and national standpoint. It seeks to assess potential disruptions to critical sectors of the economy and deliberate on policy reforms necessary for transitioning towards a low-emission, climate-resilient economic framework.

During his address, President Wickremesinghe highlighted the nation’s proactive approach to combating climate change. He announced the establishment of a dedicated climate change centre in Sri Lanka and his instructions to the officials to model legislation based on the United Kingdom’s Climate Act, endorsed by global financial institutions. The President emphasized the significance of Sri Lanka’s role in addressing climate change, particularly within the Indian Ocean and the tropical belt and outlined plans for the International Climate Change University to be established in the country.

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