News

Lanka’s poverty rate doubled, says World Bank

Published

1 month ago

May 7, 2023

editor

Sri Lanka’s ongoing economic crisis is estimated to have doubled the poverty rate from 13.1 percent to 25 percent and it is projected to remain above 25 percent for the next few years due to the multiple risks to households’ livelihoods, the World Bank said in its twice-a-year update on Sri Lanka this week.

“The crisis reversed years of gains in poverty reduction and human capital development,” the update said, noting that the crisis had added an additional 2.5 million poor people.

Vulnerability to income shocks has also increased with many non-poor households living close to the poverty line – 5.7 percent of the population lives less than 10 percent above the poverty line and a further 5.6 percent lives between 10 and 20 percent above it. All these households are highly vulnerable to falling into poverty in the event of a negative income shock, according to the report.

The international financial outfit also projected that the country’s economy would continue to face significant challenges this year and beyond with the country’s economy contracting by 4.3 percent this year, while demand continued to be subdued, job and income losses intensified, and supply-side constraints adversely affected production.

“Growth prospects are subject to high uncertainty and will depend on the progress of debt restructuring with timely and effective implementation of fiscal consolidation, and growth-enhancing structural reforms,” the World Bank said, while pointing out that the country could use this crisis as an opportunity to build a strong and resilient economy.

(Sunday Times)

News

Cabinet green light to ratify Comprehensive Nuclear-Test-Ban Treaty

Published

13 hours ago

June 6, 2023

editor

Cabinet approval has been granted to ratify the Comprehensive Nuclear-Test-Ban Treaty and to take the necessary steps for legislation to enforce the provisions of the agreement.

The Comprehensive Nuclear Test Ban Treaty (CTBT) was adopted by the United Nations General Assembly on Sep. 10, 1996. By the treaty, member states agreed to ban “any nuclear weapons test or other nuclear explosion” anywhere in the world. So far, 186 countries have signed the agreement and 177 countries have ratified the agreement.

Sri Lanka signed the Comprehensive Nuclear Test Ban Treaty on October 24, 1996. Sri Lanka is currently cooperating with the Comprehensive Nuclear-Test-Ban Treaty Organization in the areas of training, capacity development, data and information sharing. Sri Lanka’s ratification of the treaty would recognize Sri Lanka’s diplomatic role as an active proponent of international peace and security in a world free of nuclear weapons.

According to the government, ratifying the agreement will also enable the country to obtain useful data for civil and scientific purposes that will benefit many developing countries including Sri Lanka, such as tsunami warnings, climate change and geographical studies.

News

Overseas travel ban slapped on Gajendrakumar Ponnambalam

Published

13 hours ago

June 6, 2023

editor

The Kilinochchi Magistrate’s Court has issued an overseas travel ban on Ahila Ilankai Thamil Congress (AITC) MP – Gajendrakumar Ponnambalam over the recent incident of verbally abusing police officers during a function, police spokesman – SSP Nihal Thalduwa says.

Yesterday, the magistrate ordered to remand the AITC’s main female organizer in the North – East region, over the incident.

News

Verdict on petition challenging Diana Gamage’s MP seat, postponed

Published

14 hours ago

June 6, 2023

editor

The Court of Appeal has deferred the pronouncement of the verdict on the petition filed seeking an order to annul the Parliamentary seat of State Minister Diana Gamage.

Accordingly, the verdict is expected to be pronounced on the 25th of July.

The petition was called this morning before President of the Court of Appeal Justice Nissanka Bandula Karunaratne and Justice A Marikkar.

Court heard arguments pertaining to the petition previously and was expected to announce the verdict today.

The writ petition was filed before the Court of Appeal calling for State Minister Diana Gamage to be stripped of her Parliamentary seat by activist Oshala Herath on the 15th of November 2022.

State Minister Gamage, the Immigration and Emigration Controller, the Minister of Public Security, the General Secretary of the Samagi Jana Balawegaya, the National Election Commission and its members, and the General Secretary of Parliament were cited as respondents in the petition.

(newsradio.lk)