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Received letter of assurance from China’s Exim Bank last night – President

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Received letter of assurance from China’s Exim Bank last night – President

Delivering a special statement in Parliament, President Ranil Wickremesinghe has said that the Government has received the letter of assurance from China’s Exim Bank last night (06).

He added that the Letter of Intent signed by the Central Bank Governor and himself was sent to the IMF last night itself.

“We have fulfilled our duties…I hope the IMF duties will be done by the third or fourth week of this month,” he said.

Noting that the government took many extremely difficult economic measures to stabilize the economy and efforts are now being made to ensure economic growth, he noted that the suffering caused by this continues for everyone in society.

Strong action

While apologizing as a government for the hardships the people have had to undergo in meeting the IMF’s conditions for restructuring,  the President also sought cooperation from the opposition and warned that if the restructuring process is sabotaged, the government will not hesitate to take strong action.

In his address to parliament, the President further said that with the provision of fertilizer, the country achieved a successful harvest during Yala and Maha seasons, & the export of agricultural products has gained a fair degree of normalcy & economic problems since June 2022 have been resolved to some extent.

He also said that the government implemented various measures such as providing essential commodities, uninterrupted electricity supply, fertilizer to farmers, and additional funds for Samurdhi beneficiaries & restored tax policies implemented in 2019 to improve revenue as the emergency tax cuts implemented earlier led to a decrease in government revenue.

The President also noted that although the unfavourable conditions in the country in 2022 resulted in an unsuccessful tourism industry, there are indications that the situation is improving this year.

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Indian-owned ship held in Colombo after oil spill; travel ban imposed on captain

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The Marine Environment Protection Authority (MEPA) has taken custody of a ship which had caused an oil spill while anchored at the Colombo Port.

A spokesperson of the MEPA stated that legal action has been initiated against the company that owns the ship and the relevant insurance company regarding the oil spill. Under the Marine Environment Protection Authority Act, the MEPA is seeking compensation for the incident, the authority revealed.

The ship, owned by an Indian company, had recently arrived at the Port of Colombo for maintenance activities. A special investigation conducted by MEPA had revealed a leak of hydraulic oil from the ship. The company’s owner has admitted to the incident and agreed to provide compensation, according to the MEPA.

Furthermore, the Colombo Magistrate Court has imposed a travel ban on the captain of the ship preventing him from leaving the country, as per a request made by the Colombo Port Police.

(This story, originally published by adaderana.lk has not been edited by SLM staff)

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5 companies fined Rs. 1,243 Mn. for illegal gold imports

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State Finance Minister Dr. Ranjith Siyambalapitiya said that five companies have been identified for illegally importing gold into Sri Lanka during the past few years, and fines of Rs.1,243 million have been imposed on those companies.

The Minister said that one of the related companies was ordered to pay Rs.179 million as fines.

Emphasising that from now on, all licensed institutions carrying out import of gold goods should avoid these illegal acts, the Minister said that the relevant institutions will also be charged fines for the gold purchased by even third parties considering the production reports.

He said the efforts to stabilise the state revenue of the country are currently being carried out by closing all the loopholes related to the loss of state revenue gradually.

Certain parties who import gold goods have turned this into a big racket and therefore there is a mafia around it.There were various challenges and threats when the government tried to curb this mafia initially.

The Minister further said that there were various levels of threats, pressure and intimidation, and the government did not waver in the face of all these challenges and moved to the second step.

(dailynews.lk)

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

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Teachers & Principals launch TU action

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Teachers and principals in schools across the island will engage in trade union action today.

Convenor of the National Collective Against Teachers’ and Principals’ Salary Disparities Venerable Ulapane Sumangala Thero, says teachers and principals will report sick today.

The decision has been made due to the lack of solutions provided to issues related to salary anomalies.

In a statement yesterday, the Ministry of Education confirmed that schools will operate as usual today and tomorrow.

Meanwhile, The strike initiated by non-academic employees of state universities continues for the 29th consecutive day.

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