News
IMF loan expected in March – President
During a discussion held at the Presidential Secretariat on February 16th, President Ranil Wickremesinghe announced that an International Monetary Fund (IMF) EFF loan is expected to be received in March.
The President also mentioned that the possibility of reducing bank interest rates is being considered in line with the gradual drop of inflation rate.
The discussion was aimed at identifying the issues faced by small and large-scale rice mill owners and finding solutions to resolve them.
The rice mill owners brought up the fact that the production cost of a kilogram of rice has increased due to various factors, including the rise in fuel prices, electricity charges, machinery maintenance costs, transportation costs, and all other production and administrative expenses.
They noted that they would incur losses by selling their product at the current market price as it is lower than the production cost.
The rice mill owners also pointed out the difficulty of paying a high interest rate of 28% on bank loans taken to purchase paddy. It was mentioned that the production cost of a kilogram of paddy has increased due to the rapid increase in prices of the agricultural inputs for paddy cultivation. Farmers have had to pay a high interest rate on bank loans they had taken for cultivation.
As a result, the rice mill owners demanded relief for the rice industry, which has reached a difficult stage to maintain operations due to the increase in production costs for both cultivation and rice mills.
The President acknowledged their concerns and stated that it was the government’s expectation to provide all possible relief to consumers as well as farmers.
The President instructed officials to seek means of increasing paddy production by reducing production costs and finding solutions to the problems faced by rice mill owners without delay. The discussion ended with the President’s assurance to work towards finding a solution to the issues faced by the rice industry.
President’s Secretary Mr. Saman Ekanayake, President’s Senior Adviser on Economic Affairs Dr. R.H.S. Samaratunga, Presidential Adviser on Food Security Dr. Suren Batagoda, government officials and representatives of small and large scale rice mills including Mr. Dudley Sirisena attended the discussion.
In a letter to the Inspector General of Police, the Bar Association of Sri Lanka (BASL) has requested the police take necessary action to ensure the safety of the BASL President – Saliya Pieris.
The letter to the IGP relates to the protest that took place opposite the chamber of Saliya Pieris PC.
view the said protest seriously hinders his right to represent a client, a professional right which has been safeguarded by law,” the BASL said.
“Therefore, we strongly demand that you take action to ensure that Mr. Peiris’s professional duties as an Attorney-at-law, are not hindered and to ensure his safety,” the BASL added.
A Sri Lankan Gem and Jewellery Exhibition was held at The St. Regis Hotel in Shanghai between 22 to 23 March 2023 with the participation of Zam Gems Sri Lanka under the patronage of Sri Lanka Consulate General in Shanghai.
At the exhibition, Sri Lankan gems which included blue sapphires, pink sapphires (rubies), Alexandrite and Cat’s-eye Chrysoberyl were displayed. In addition, a variety of jewellery including necklaces, rings, earrings, bracelets which were crafted using above mentioned Sri Lankan gems and stones were also exhibited.
The Chairman of Shanghai Jade and Gem Exchange Simon Chan participated in the event with his team of officials and reputed Chinese buyers. In addition, many other buyers across China, Gem and Jewellery traders, gem collectors, members of Shanghai Diplomatic Corp, expatriates as well as other interested parties and visitors were present at the event.
Further, the Consulate used this opportunity to promote Sri Lanka tourism by displaying and distributing Sri Lanka tourism brochures among prospective gem buyers, members of Diplomatic Corp and visitors while responding to tourism related queries.
This event, which was the 01st Gem and Jewellery exhibition held in Shanghai in the aftermath of the opening up of Chinese borders (ending months long Covid-19 restrictions), proved to be a huge success.
Afghan school year starts without millions of teenage girls
Dhananjaya denies claims on refusal to bat at No. 7
Ensure safety of Saliya Peiris – BASL
-
BIZ1 day agoAliraja to buy state-owned shares in Telecom & Lanka Hospitals!
-
BIZ1 week agoPeople’s Bank in danger! ; Depositors continue to withdraw money
-
News3 days agoCBSL to sue three pyramid schemes including Onmax DT!
-
News1 week agoNext IGP Deshabandu
-
BIZ1 week agoPrima Noodles sued for misleading consumers!
-
News1 week ago2 dead in Koggala train – car collision
-
News6 days agoSchool holidays are announced
-
News6 days agoPasindu Gunaratne appointed chairman of NYSC