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MV X-Press ship: SL to claim damages in USD

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The Cabinet of Ministers has granted approval to obtain compensation from the insurance company that owns the MV X-Press Pearl ship that caused grave marine environment destruction in Sri Lanka due to the fire onboard, in US dollars.

Cabinet approval was granted as obtaining compensation in Sri Lankan currency could set a bad precedent, and therefore the Cabinet agreed to accept compensation in US dollars for all activities such as beach cleanups, waste management, environmental damage and other activities.

Accordingly, the Marine Environment Protection Authority will submit the insurance claim form to the insurance company of the MV X-Press Pearl ship in US dollars.

The Ministry of Urban Development and Housing said although the insurance company that owns the ship settled the first and second claims with the Treasury entirely in US dollars, the insurance company had requested the Attorney General through the MEPA to pay the third and fourth claim settlements in US dollars and rupees.

The MV X-Press Pearl, carrying goods under the flag of Singapore, reported a fire onboard on the 20th of May 2021 when in Sri Lanka waters and subsequently sank in Lankan waters.

(newsradio.lk)

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Rains expected in several areas today

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Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in the Nuwara-Eliya, Kandy, Galle and Matara districts today (July 02), the Department of Meteorology said.

A few showers may occur in the Jaffna and Mannar districts.

Fairly strong winds of about 30-40kmph can be expected at times over the Western slopes of the central hills and in the Northern, North-central and North-western provinces and in the Trincomalee and Hambantota districts.

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IMF Executive Board approves Sri Lanka’s 4th review

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The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.

This brings the total IMF financial support disbursed so far to about US$1.74 billion.

“The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.”

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Cabinet approval for online traffic fine payment system – Bimal

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Minister of Transport and Highways Bimal Rathnayake has said that Cabinet approval has been granted to implement an islandwide online traffic fine payment system.

He made this statement during a media briefing near the Kottawa Expressway entrance, following a public awareness programme on mandatory seat belt use for vehicles travelling on expressways.

“The Cabinet approved the proposal today. At present, the online fine payment system is available only between Kurunegala and Anuradhapura. Now, we’re providing all police units with mobile devices, so that from this year, traffic fines can be paid from anywhere via mobile phones… Rather than paying fines, we urge everyone to drive carefully, wear seat belts, and avoid violations. Our core message is simple, travel safely,” the minister has said.

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