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“Japan working hard to help SL to overcome economic crisis”

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Japan has reiterated that it is working hard to help Sri Lanka overcome the economic crisis.

During an interview with the Reuters News Agency, Vice Minister of Finance for International Affairs of Japan Masato Kanda has said Japan is working hard to help Sri Lanka, which is suffering its deepest economic crisis in 70 years, by coordinating with the Paris Club of creditor nations and the International Monetary Fund to ensure the participation of China and India in efforts to restructure the debt.

Referring to a Group of 20 mechanism designed to provide a swift and comprehensive debt restructuring for nations facing difficulty meeting debt obligations after the COVID-19 shock to their economies, Vice Minister Masato Kanda said, “It is desirable to work with these non-Paris Club countries in the same way with the Common Framework.”

“If this is realised, it would pave the way to carry out debt restructuring for other middle-income countries,” he has added.

The Vice Minister has stressed that crisis-hit Sri Lanka was a key issue when it came to helping countries in debt but he was not sure when creditors aiming to extend its loans would meet.

Meanwhile, Vice Minister Masato Kanda said Japan, as this year’s Group of Seven (G7) chair, expects Russia’s invasion of Ukraine to dominate talks this year among the world’s major advanced economies.

(Source : Reuters)

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Concealed foreign liquor found during police raid at spare parts company

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Officers of the Walana Anti-Corruption Unit have discovered a stash of foreign liquor stashed at a well known spare parts company located in Delkanda, Nugegoda.

Upon receiving a tipoff, police discovered a large quantity of foreign liquor concealed at the company premises named ‘Lakpahana Auto’.

A 59-year-old man who works as the manager of the premises, has been arrested.

It is said that the street value of the liquor is nearly Rs. 10 million.

Police investigations further revealed that the businessman owning the spare parts company also owns two night clubs in Kottawa and Kollupitiya and the stashed liquor had been delivered to these two nightclubs.

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Bread flour prices slashed

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Leading flour manufacturers in Sri Lanka – Serendib Flour Mills and Prima, have decided to reduce bread flour prices by Rs. 10 per kilogram effective from tomorrow (Feb.18).
“During 2024, we implemented an initial reduction of Rs. 10 per kilogram in bread flour prices. While the earlier reduction did not translate to lower bread prices, both institutions have now stepped forward with an additional Rs. 10 per kilogram reduction, bringing the total reduction to Rs. 20 per kilogram,” said Mr. Kalinga Wijesekera, Director Brand and Corporate Communications, Serendib Flour Mills.

“We have informed the Minister of Trade of the latest reduction, and sincerely believe the Bakery Association will pass on the benefit of this price reduction to end consumers through reduced prices of bread and other bakery items,” he added.

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Justice Laffar’s term extended  

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The term of Acting President of the Court of Appeal – Justice Mohammed Thahir Laffar has been extended.

Accordingly, Justice Mohammed Thahir Laffar took his oath before President Anura Kumara Disanayake at the Presidential Secretariat today (Feb. 17).

Secretary to the President Dr. Nandika Sanath Kumanayake was also present on this occasion.

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