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President’s New Year message

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President Ranil Wickremesinghe says that the year 2023 will be a critical year in which they plan to turn around the country’s economy and that therefore the proposed social, economic and political reforms to build a prosperous and productive Sri Lanka in the coming decade must be boldly implemented.

“We are looking at the New Year 2023 after having undergone the bleakest of times, immense hardships, as well as the uncertainties and hopelessness of the last year.”

“I understand the great burdens that are placed on all of us and the setbacks that a majority of us have suffered due to the country’s abject economic collapse,” he said in his New Year message.

“Yet I believe that we have already gone through the worst of these times.”

The President sincerely appreciated all who are committed to the country first and thanked them for their patience and courage as the government took the critical, initial steps to stabilise the economy.

“Indeed, 2023 will be a critical year in which we plan to turn around the economy.” 2023 is also the 75th year of independence from the British Empire, he pointed out.

“Looking back, it is obvious that we have not done as well as other ex-colonies. This is why the youth of our country are calling for a system change – especially at this juncture. This cannot be ignored,” he said.

“Therefore, we must boldly implement the proposed social, economic and political reforms to build a prosperous and productive Sri Lanka in the coming decade.”

President’s New Year Message.

We are looking at the New Year 2023 after having undergone the bleakest of times, immense hardships, as well as the uncertainties and hopelessness of the last year. I understand the great burdens that are placed on all of us and the setbacks that a majority of us have suffered due to the country’s abject economic collapse. Yet I believe that we have already gone through the worst of these times. I sincerely appreciate all of you who are committed to our country first and I thank you for your patience and courage as we took the critical, initial steps to stabilise the economy.

Indeed, 2023 will be a critical year in which we plan to turn around the economy.

2023 is also the 75th year of independence from the British Empire. Looking back, it is obvious that we have not done as well as other ex-colonies. This is why the youth of our country are calling for a system change – especially at this juncture. This cannot be ignored.

Therefore, we must boldly implement the proposed social, economic and political reforms to build a prosperous and productive Sri Lanka in the coming decade.

I wish all of you a happy and peaceful new year!

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Fuel prices upped

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The Ceylon Petroleum Corporation (CPC) has announced a revision of fuel prices, effective from midnight today (June 30).

The price of Petrol 92 Octane has been increased by Rs. 12 to Rs. 305 per litre, while the price of Kerosene has been increased by Rs. 07 to Rs. 185 per litre. The price of Auto Diesel has also been increased by Rs. 15, bringing it to Rs. 289 per litre.

However, the prices of Petrol 95 Octane and Super Diesel remain unchanged, according to Ceypetco.

The new fuel prices are as follows:

• Petrol Octane 92 – Rs. 305 (increased by Rs. 12)
• Auto Diesel – Rs. 289 (increased by Rs. 15)
• Kerosene – Rs. 185 (increased by Rs. 7)
• Petrol Octane 95 – Rs. 341 (not revised)
• Super Diesel – Rs. 325 (not revised)

Meanwhile, Lanka IOC has also revised retail fuel prices to match Ceypetco prices.

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“Sri Lanka, only Asian country currently holding talks to revise Trumps’ tariffs”

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Sri Lanka is the only country in the Asia region currently holding discussions with officials in the United States to revise the tariffs introduced by US President Donald Trump earlier this year, according to Minister of Labour and Deputy Minister of Economic Development Prof. Anil Jayantha Fernando.

Joining the Parliamentary debate today (30), where MPs are debating the fiscal strategy statement of the government, the Deputy Minister of Economic Development stated that they are hopeful the government will be able get a better deal from the US regarding the 44% tariff imposed earlier this year.

A Sri Lankan delegation last month held discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR).

The reciprocal tariffs imposed by United States President Donald Trump has been paused for 90 days at present.

Deputy Minister of Economic Development Prof. Anil Jayantha Fernando in Parliament stated that the government will take all steps within their powers to reduce the tariffs imposed by the US which will have a major bearing on many local industries.

The Deputy Minister while the government is taking such important steps to safeguard local companies, the opposition is only focused on jeopardizing the work of the present administration

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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Indian officials extend US visit to iron out trade deal, sources say

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Officials from India will extend their Washington visit to try to reach agreement on a trade deal with U.S. President Donald Trump’s administration and address lingering concerns on both sides, two Indian government sources said on Monday.

Trade talks between India and the U.S. have hit roadblocks over disagreements on import duties for auto components, steel, and farm goods, ahead of Trump’s July 9 deadline to impose reciprocal tariffs.

The Indian delegation had been expected to conclude discussions by last Friday, but was staying on until at least Monday evening to iron out differences and move towards an agreement, officials said, declining to be named as the discussions are private.

“There are certain disagreements over opening up the agriculture and dairy sectors, though India has offered tariff concessions on 90% of tariff lines. A final call will be taken by the political leadership of the two countries,” one of the government sources said.

“The Indian delegation could stay for another one to two days if discussions continue,” the second source said.

India’s commerce ministry and the U.S. Trade Representative Office did not immediately respond to requests for comment.

Agriculture and dairy are “big red lines” for India in its ongoing trade negotiations with the U.S., Finance Minister Nirmala Sitharaman told the Financial Express newspaper in an interview published on Monday.

“Yes, I’d love to have an agreement, a big, good, beautiful one; why not?” Sitharaman said, adding that an early conclusion of the trade deal would serve India better.

Trump said last week that America was going to have a “very big” trade deal with India, but gave no details.

(Reuters)

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