News

Conservator General of Forests refutes reports on SL forest cover

Published

2 years ago

January 9, 2023

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The Conservator General of Forests Mr. K.M.A Bandara said that the media reports implying that Sri Lanka’s forest cover has decreased to 16% are false.

The President’s Media Division says that Mr. Bandara has said this in response to a query made over the media reports on the instructions of President’s Secretary Mr. Saman Ekanayake and that the Presidential Secretariat had focused its attention regarding these media reports.

The PMD statement issued in this regard further says :

The assessment of forest cover is carried out every five years and the census conducted in 2020 is scheduled to be completed in June this year. According to the census conducted in 2015, the natural forests of Sri Lanka stood at 29.15% (1,912,970 hectares) of the total land extent.

The Conservator General of Forests also said that although there has been some reduction in the amount of forests due to various development activities and other human activities in the country, there has definitely been no decrease in the amount of forests up to 16% as stated in the media reports.

According to media reports, if the forest area in Sri Lanka is 16% of the total land extent, then the existing forest area in the country should be 1,040,000 hectares. This means that 872,970 hectares of forests should have been destroyed during the seven years from 2015, which is 124,710 hectares per year and 341 hectares of forest destruction per day.

He also said that the method used to assess the forests should have been described in the presentation of data on forests. Basic points such as the definition of forests, the method of estimating forest size, and the estimation of forest size should have been mentioned in the report. However, there is no source from which the relevant data was obtained in the media reports suggesting that the forest cover had decreased.

The Conservator General further stated that if there is widespread forest destruction, as reported in the media, it should have been observed by the Department of Forest, the Department of Wildlife Conservation, the Sri Lanka Police, and the Sri Lanka Air Force, which monitors forests from the air. However, such extensive forest destruction has not been reported to any of these institutions. He also stated that the Forest Department is updating forest maps and that no such forest destruction was observed during those activities.

News

SLADA Chairman Professor Arjuna de Silva Resigns

Published

7 hours ago

September 19, 2024

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Professor Arjuna de Silva, Chairman of the Sri Lanka Anti-Doping Agency (SLADA), has announced his resignation effective September 30, marking the end of his 13-year tenure.

His departure will also see him stepping down from his duties at Sri Lanka Cricket.

At a media briefing, de Silva stated that his decision to resign was voluntary, with no external pressure involved.

He expressed satisfaction with his achievements, including significant progress in eradicating doping in Sri Lankan sports.

During his tenure, Sri Lanka rose to sixth place in Asia in doping control efforts.

De Silva also pioneered the construction of SLADA’s new headquarters and played a key role in identifying sources of banned substances.

Additionally, SLADA’s collaboration with the International Cricket Council is expected to generate future revenue.

News

Sri Lanka reaches in principle agreements for restructuring sovereign debt with external commercial creditors

Published

7 hours ago

September 19, 2024

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On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023).

These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of international investors, and the Local Consortium of Sri Lanka (“LCSL”), a representative group of domestic financial institutions. Collectively, the two groups hold in excess of 50% of the Bonds.

Under the agreements, holders of the Bonds will be consenting to a present value concession of 40.3% in the baseline scenario, calculated with a discount factor of 11%. The agreements provide Sri Lanka with enhanced debt relief compared to the Joint Working Framework agreed in July 2024, including a further reduction in interest payments provided in the new agreement.

Sri Lanka also announced that it has finalized an agreement in principle with China Development Bank (“CDB”) on the key financial terms of the restructuring of approximately US$ 3.3bn of sovereign debt.

As a result of the agreements already achieved with Eximbank of China and members of Sri Lanka’s Official Creditor Committee (“OCC”) as well as CDB and bondholders, Sri Lanka will have obtained over USD 17bn of debt service relief during the IMF program period (around USD 2.4bn from Eximbank of China, USD 2.9bn from the OCC, USD 2.5bn from CDB and USD 9.5bn from the bondholders).

President Ranil Wickremesinghe expressed his deep appreciation for all of Sri Lanka’s creditors who engaged in good faith throughout this process, and also for the International Monetary Fund and the OCC Secretariat for the continuous and constructive support.

The official announcement

News

Around 500 apparel factory workers hospitalized due to food poisoning

Published

14 hours ago

September 19, 2024

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Around 500 workers at a privately owned apparel factory in Bakamoona, Polonnaruwa have been hospitalised over food poisoning, reports say.
According to reports, the employees have fallen ill after consuming food provided by the factory.

However, they are not in critical condition and are being treated at the Bakamoona and Atthanakadawala Hospitals.

(Source : Aruna)