News

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

Published

8 months ago

January 26, 2023

editor

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)

News

Rosewood timber stock rots in Customs for 9 years

Published

2 hours ago

September 27, 2023

editor

Sri Lanka Customs has had to store 3,669 logs of confiscated Rosewood weighing 420 metric tons at a cost of more than Rs.80 million as storage fees, a report issued by the National Audit Office said.

Although these logs were planned to be sold, they have been stored for 9 years due to the delay in obtaining the permit from the Wildlife Conservation Department.

The logs have already been damaged by insects.

These logs were sent from Zanzibar in Tanzania for re-export to Hong Kong via Sri Lanka by declaring them as African solid wood.

The audit report said that due to the delay in issuing the license, these logs have been stored in a Customs yard from 2014 until April 30, 2023.

Meanwhile, the Sri Lanka Atomic Energy Board has to pay more than Rs.30 million to the Customs in the form of port development tax and value added tax for a high-powered radioactive element imported on April 23, 2021.

The report said that the overdue tax amount has not been paid to the Customs by January 1, 2023.

This information was revealed by an audit report included in the 2022 annual report of Sri Lanka Customs.

News

Muthuhettigama released on bail

Published

2 hours ago

September 27, 2023

editor

Former Member of Parliament Nishantha Muthuhettigama was released on bail by the Galle Magistrate’s Court today (27).

He was released on two sureties of Rs.5 million each and a cash bail of Rs 50,000. The next court hearing is scheduled to be held on February 02.

The former MP was arrested and remanded on charges of illegally assembling a luxury car.

News

Raids increased to nab train passengers sans tickets!

Published

2 hours ago

September 27, 2023

editor

Sri Lanka Railways has taken steps to increase raids to nab passengers travelling without tickets.

Frequent inspections to nab errant passengers were suspended due to the Covid-19 pandemic.

Due to this, people are more inclined to travel by train without tickets and the initial raids will be based on Maradana and Colombo Fort Railway Stations.

Meanwhile, the Railways Station Master’s Association said that nearly Rs.225,000 was collected from 72 passengers who travelled without tickets from the Maradana Railway Station from August upto now.