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Change in power cut schedule

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The Public Utilities Commission of Sri Lanka (PUCSL) has decided not to impose power outages after 07:00 p.m. during the period in which the 2022 G.C.E Advanced Level Examination is scheduled to take place.

The decision was taken following a request made by the Department of Examinations, PUCSL Chairman Janaka Ratnayaka explained, adding that the decision was also made  in accordance with the requirements of the Ceylon Electricity Board (CEB).

The 2022 G.C.E. Advanced Level Examination is scheduled to be held from 23 January to17 February at 2,200 centres across the island.

Meanwhile, power will be interrupted for 02 hours and 20 minutes, one hour during the daytime and one hour 20 minutes during night, for all groups today (21 Jan.) and tomorrow (22 Jan.).

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Rs. 20 Bn loan lifeline for SMEs

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The government has taken measures to implement a Rs.20 billion credit scheme to revive the micro, small and medium enterprise sector in Sri Lanka.  

Accordingly, the Cabinet of Ministers has granted its consent to the proposal forwarded by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilization and National Policies Minister to implement a credit scheme to revive the micro, small and medium enterprise sector.

Speaking at the weekly Cabinet media briefing held yesterday at the Government Information Department, Cabinet Spokesman, Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana said the proposed Rs.20 billion will be spent on the entire project which has two components.

“Out of this, Rs.15 billion will be used to strengthen existing and new enterprises and the remaining amount of Rs.five billion will be used to support enterprises under the non-performing loan category.

A significant number of small and medium scale entrepreneurs involved in manufacturing, import, export, tourism, apparel and various other commercial operations have found it very difficult to continue running their enterprises as a result of the economic downturn and the impact of external factors beyond their control.

The Asian Development Bank has agreed to provide working capital support for the Small and Medium Enterprise sector as a relief. The proposed programme is intended to provide credit facilities to existing micro, small and medium scale enterprises for further expansion and recovery of their businesses through licensed commercial banks and licensed specialised banks at concessional interest rates.

(dailynews.lk)

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Bakery industry in crisis as bread and bun sales decline

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The All Ceylon Bakery Owners’ Association (ACBOA) has reported a significant drop of around 50% in the sales of cakes, bread, and buns in the local market. The association attributes this decline to the high manufacturing costs currently faced by the bakery industry.

According to the ACBOA, the costs of margarine and butter have surged to Rs. 1,000 and Rs. 3,000 per kilogram, respectively. Additionally, the association cited challenges in obtaining imported eggs from India, forcing them to purchase locally produced eggs at Rs. 60 each.

The chairman of the association expressed concerns about the impact these rising costs have on the bakery industry. In light of these challenges, the ACBOA is urging the government to provide concessions and work towards reducing the prices of essential ingredients before the upcoming Sinhala and Hindu New Year.

The association’s plea emphasizes the need for government support to help stabilize the bakery industry and ensure its sustainability amid the current economic challenges. Further updates on the situation and any government response will be monitored closely.

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Former Minister Ronnie de Mel no more

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Former Minister – Ronnie de Mel has passed away today (27) while being treated at a private hospital, reports say.

He was aged 99 years old.A former civil servant, he was the Minister of Finance from 1977 – 1988 under the United National Party government and holds the record for the largest number of budgets presented by a finance minister.

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