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    Government Accepts PUCSL Recommendation to Reduce Electricity Bills

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    The Minister of Energy, Engineer Kumara Jayakody, announced that the government has accepted the recommendation of the Public Utility Commission of Sri Lanka (PUCSL) to reduce electricity bills, with the new rates coming into effect at midnight on January 17. 

    In a statement issued by the Ministry of Power, Minister Jayakody expressed satisfaction with the decision, emphasizing its potential benefits for the public and key industries. 

    “I am pleased to announce the reduction in electricity bills, which I hope will provide significant relief to the people of this country. This will especially benefit the hotel industry and other industrial sectors,” the minister stated. 

    ADB and UNDP Partner with CIABOC to Launch Anti-Corruption Initiative in Sri Lanka

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    The Asian Development Bank (ADB) and the United Nations Development Programme (UNDP) have partnered with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to advance key anti-corruption initiatives in Sri Lanka. The partnership was formalized at a recent event held at CIABOC’s headquarters, with ADB Country Director for Sri Lanka, Mr. Takafumi Kadono, and UNDP Resident Representative in Sri Lanka, Ms. Azusa Kubota, signing the agreement in the presence of Justice W.M.N.P. Iddawala, Chairman of CIABOC, Commissioners of CIABOC, and Director General Mr. R.S.A. Dissanayake.

    The initiative aims to operationalize an E-Asset Declaration System in line with the Anti-Corruption Act enacted in 2023. This system will streamline the submission and review process for asset and liability declarations, improving transparency and accountability for government officials.

    Mr. Kadono emphasized the importance of collaboration, stating, “The response to people’s aspirations for better governance and rooting out corruption requires political will, strong partnerships, and unwavering commitment. This joint effort with UNDP is a hopeful sign of Sri Lanka’s journey toward growth and shared prosperity.”

    Highlighting UNDP’s technical expertise, Ms. Kubota described the initiative as a milestone for good governance. “This partnership combines UNDP’s technical know-how with ADB’s financial resources, aligning with CIABOC’s leadership to foster transparency and accountability. It not only strengthens the foundation for national anti-corruption goals but also paves the way for future collaborations,” she said.

    Justice Iddawala reaffirmed the government’s commitment, noting Sri Lanka’s obligations as a State Party to the United Nations Convention Against Corruption (UNCAC). “CIABOC plays a vital role in combating corruption. Today’s launch is a testament to our collective commitment to integrity and transparency,” he said.

    The project also aims to integrate anti-corruption measures in public service delivery, strengthen institutional capacity across sectors, and leverage technology and innovation to promote integrity. By addressing corruption comprehensively, the initiative seeks to build a more transparent, just, and sustainable future for Sri Lanka.

    Sri Lanka to Launch Strategic Two-Year Plan to Boost Pharmaceutical Production

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    In response to mounting challenges in maintaining a continuous supply of essential medicines for the country’s healthcare system, Health Minister Dr. Nalinda Jayatissa has instructed the State Pharmaceutical Corporation (SPC) to take immediate measures to significantly increase Sri Lanka’s pharmaceutical production capacity within the next two years. 

    The Minister issued these directives during his visit to the Sri Lanka State Pharmaceutical Manufacturing Corporation (SPMC) in Ratmalana. He outlined the key issues hindering the steady supply of medicines, including a shortage of drug suppliers, unreliable deliveries from contracted suppliers, and global supply chain disruptions. These challenges have led to periodic shortages of essential medications in government hospitals. 

    During the visit, Dr. Jayatissa conducted a comprehensive review of the obstacles affecting the rapid importation of raw materials necessary for pharmaceutical production. He engaged with officials to identify existing weaknesses and emphasized the urgency of implementing strategic plans to enhance production capacity without delay. 

    Highlighting the significance of the SPMC, the Minister described it as Sri Lanka’s oldest and largest government-owned pharmaceutical manufacturing institution and a cornerstone of the nation’s public health system. He underscored its role as a vital public service that extends beyond profit-oriented objectives. 

    Additionally, Dr. Jayatissa announced plans to expand the state pharmacy network to address the increasing demand in urban areas across the country. 

    The Minister held extensive discussions with the chairman and senior management of the SPMC to ensure the institution’s vision, initially established through a gift from the Japanese government, is implemented more formally and transparently. 

    During his inspection, Dr. Jayatissa assessed the corporation’s pharmaceutical production processes, raw material procurement, research activities, and drug distribution systems. He issued specific instructions to enhance these areas, focusing on corporate social responsibility, laboratory infrastructure, pre-production processes, marketing strategies, and human resource development. 

    As part of his visit, the Minister toured various sections of the SPMC premises and held discussions with staff members to understand the challenges they encounter in carrying out their responsibilities. 

    The event was attended by SPMC Chairman Professor Jayantha Vijayabandara, General Manager Asanti Athuraliya, Deputy General Managers, and other staff members. 

    President Departs on Four-Day Visit to China

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    President Anura Kumara Dissanayake departed the country last night for a four-day official visit to China.

    At the invitation of Chinese President Xi Jinping, President Dissanayake will undertake a state visit to China from January 14 to 17.

    During the visit, the President is scheduled to meet Chinese President Xi Jinping, Chinese Premier Li Qiang, and other high-ranking state officials.

    The delegation accompanying the President includes Minister of Foreign Affairs, Foreign Employment, and Tourism Vijitha Herath; Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake; and Director General of Government Information H.S.K.J. Bandara.

    Vehicle Taxes Likely to Increase by up to 600%

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    The Chairman of the Sri Lanka Vehicle Importers Association, Mr. Prasad Manuge, stated that vehicle import taxes could rise by up to 600% following the approval to resume vehicle imports starting February, after a five-year hiatus.

    He explained that the inclusion of VAT on top of three existing tax categories would significantly impact the cost of vehicle imports. A gazette notification regarding the imposition of taxes on vehicles not older than 10 years from the date of manufacture was issued by the Minister of Finance, President Anura Kumara Dissanayake, on the 10th.

    Newly Appointed Diplomats Meet PM

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    The newly appointed heads of diplomatic missions met with Prime Minister Harini Amarasuriya today (10) at the Parliament.

    The meeting was attended by:

    R.S. Khan Asad, the newly appointed Ambassador of Qatar

    W.G.S. Prasanna, the new High Commissioner of New Zealand

    S.K. Gunasekara, the new Ambassador of the Russian Federation

    L.P. Ratnayake, the new Ambassador of Kuwait

    A.S.K. Senaviratne, the new Ambassador of the Arab State

    Prime Minister’s Secretary Pradeep Saputantri and Additional Secretary Sagarika Bogahawatta were also present at the occasion.

    Udayanga Weeratunga Arrested

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    Former Sri Lankan Ambassador to Russia, Udayanga Weeratunga, has been arrested by the Mirihana Police on suspicion of assaulting a person.

    He was taken into custody in connection with an incident involving the assault of a 66-year-old resident at his house on Cemetery Road, Thalapathpitiya, Nugegoda.

    The police have received complaints that the assault occurred due to a boundary dispute. The injured individual, who was reportedly struck with a water pipe, has been admitted to Sri Jayawardenapura Hospital for in-patient treatment.

    Start Dates for GCE O/L Examination 2024 (2025)

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    Examinations Commissioner General Amith Jayasundara said that the Examinations Department of Sri Lanka has decided to start the General Certificate of Education O/L examination 2024 (2025) on March 17, 2025.

    The O/L examination is scheduled to be held from March 17 to 26 next year.

    A Mountain Leopard was Killed and its Legs and Head were Cut Off

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    The mutilated carcass of a mountain leopard, with its head and paws severed, has been discovered in the Proodise Estate within the Hatton Police Division.

    According to Hatton Police, preliminary investigations suggest that the leopard was killed, and its body parts were taken away, likely for illegal trade or other motives.

    Hatton Divisional Police Superintendent Pradeep Weerasekara confirmed that a report has been submitted to the Hatton Magistrate’s Court. Meanwhile, a comprehensive investigation has been launched to identify and apprehend those responsible for the killing.

    Excise Department to Introduce Affordable New Liquor in January

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    In response to the widespread circulation of illicit liquor in the market, the Excise Department plans to introduce a low-cost, standard-quality liquor bottle starting in January next year.

    Excise Commissioner General U.L. Udaya Kumara Perera announced that discussions with the Ministry of Finance are underway to finalize the necessary procedures.

    He further explained that the product will be manufactured according to strict quality standards and subsequently submitted to the Government Analyst for approval before being released to the market. This initiative aims to curb the demand for illegal alcohol while ensuring consumer safety.

    Our foremost responsibility is the protection of the country’s citizens – Acting Minister of Defence

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    A country’s treasure is its citizens. The army’s treasure is its military personnel. As the country’s army, our foremost responsibility is the protection of the country’s citizens.

    While marking his maiden visit to the Sri Lanka Army (SLA) Headquarters, Acting Minister of Defence Major General Aruna Jayasekara (Retd) made these remarks today (Dec 16) at the Army Headquarters located in the Defence Headquarters Complex, Sri Jayawardenepura, Kotte.

    As the first step taken as the new government, through the ‘Clean Sri Lanka’ programme, by purifying the attitudes of the people of the country and thus ensuring the safety of the citizens of the country, the necessary arrangements have already been made to create a good country for the future generations of the country. The SLA is the government agency that bears the main responsibility for this task. While addressing the troops, Maj. Gen. Jayasekara (Retd) further stated.

    The Acting Minister of Defence was respectfully received by the Commander of the Army, Lieutenant General Vikum Liyanage set with a Guard of Honour upon his arrival.

    The Commander of the Army, then extended a warm welcome to the Acting Minister of Defence before ushering him to introduce the Senior Officers of the Army Headquarters.

    Subsequently, the Acting Minister of Defence and the Army Commander sat for a cordial discussion and had a brief exchange of views. Maj. Gen. Jayasekara (Retd) then presided over a discussion with the senior officers of the Army Headquarters.

    Afterwards, Maj. Gen. Jayasekara (Retd) made a complimentary note in the Visitors’ Book, and the Army Commander presented a token of appreciation to the Acting Minister of Defence to mark the event.

    Chief of Staff of Sri Lanka Army, Officers of the Army Headquarters, Other Ranks and Civilian Staff also joined the occasion.

    Mahinda-Richmond “Lovers’ Quarrel” Extended to Three Days Starting 2025

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    A landmark agreement to extend the annual Mahinda-Richmond cricket encounter, affectionately known as the “Lovers’ Quarrel,” to three days was signed on December 16 at the Olcott Hall of Mahinda College, Galle.

    This change will commence with the 120th match in 2025.

    Key representatives signing the agreement included Janaka Peduruhewa, Principal of Mahinda College; P.S. Pushpakumara, Principal of Richmond College; Sampath Ratnayake, Secretary of the Mahinda College Old Boys’ Association; and Chamli Kulawardhana, Secretary of the Richmond College Old Boys’ Association. Witnessing the agreement was Nalin Taranga Nandasiri Paranagama, Secretary of the Mahinda College School Development Society, and Udara Alahakoon, Secretary of the Richmond College School Development Society.

    The event was graced by distinguished alumni and renowned cricketers, Upul Chandana (Mahinda College) and Champaka Ramanayake (Richmond College), as chief guests.

    Upul Chandana expressed his enthusiasm, stating:
    “This is a historic moment. Achieving this decision required years of effort and perseverance by many individuals. Today, we celebrate the collective agreement to extend this iconic encounter to three days.

    Such a decision reflects strong leadership and a shared vision. It’s crucial to prepare young cricketers not just to excel but to embrace challenges. This step signifies progress, and I commend both schools and Sri Lanka Cricket for their support.”

    Champaka Ramanayake echoed similar sentiments, saying:
    “As Upul mentioned, this has been a long-standing ambition. After 20 years of discussions and effort, we’ve reached a significant milestone. This extension will create more opportunities to showcase exceptional cricketing talent, enabling players to achieve remarkable feats.

    Rain delays or other disruptions will no longer limit the competition’s potential. This format allows decisive outcomes and enhances the cricketing experience. I believe this change will inspire generations of players, fostering their growth and the enduring friendship between our schools.

    Mahinda and Richmond have both gifted exceptional players to Sri Lanka. I eagerly await the three-day encounter in April 2025, confident it will be a memorable event.”

    The signing ceremony was attended by deputy and assistant principals, faculty members, representatives from the Old Boys’ Associations and School Development Societies, sports teachers, coaches, and current and former cricket captains and players from both schools.

    This historic decision not only elevates the Mahinda-Richmond encounter but also strengthens the camaraderie and sporting spirit shared by the two schools, promising an exciting new chapter in their cricketing tradition.

    “Lovers’ Quarrel” Set to Extend to 03 Days with Memorandum of Understanding

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    A Memorandum of Understanding (MoU) to officially extend the Mahinda-Richmond “Lovers’ Quarrel” cricket match from its traditional two-day format to a continuous three-day encounter starting in 2025 will be signed on December 16 at 5:30 PM at the Olcott Hall of Mahinda College.

    The MoU will be signed by Janaka Peduruhewa, Principal of Mahinda College, and P.S. Pushpakumara, Principal of Richmond College, in collaboration with the secretaries of the Old Boys’ Associations of both schools. Witnesses to the signing will include the Secretaries of the School Development Societies of both institutions.

    The event will be graced by distinguished alumni who have represented Sri Lanka in international cricket. Chamapaka Ramanayake of Richmond College and Upul Chandana of Mahinda College will attend as the chief guests.

    Sri Lanka Cricket Chairman Shammi Silva will join the event as a special guest, accompanied by officials from Sri Lanka Cricket, deputy principals in charge of sports, cricket masters-in-charge, teaching staff, executive members of the Old Boys’ Associations, representatives of School Development Societies , past and present cricketers, cricket coaches, and members of the joint committees of both schools.

    The 120th edition of the iconic “Lovers’ Quarrel” is scheduled to take place on April 3, 4, and 5, 2025, at the Galle International Cricket Stadium. This historic three-day match will be hosted by Mahinda College, continuing the longstanding tradition of camaraderie and competition between the two schools.

    The signing of this MoU marks a significant milestone in the evolution of this prestigious cricketing event, ensuring its continued growth and prominence in the sporting calendar.

    Speaker resigns

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    Speaker Ashoka Ranwala has officially informed that he has decided to resign from his position.

    He stated in a press release that she made this decision as he did not have certain documents to submit at the moment due to the issue of his educational qualifications.

    Also, it has been mentioned in the announcement that there is a possibility of submitting relevant educational documents from the research institute affiliated to Waseda University in Japan, which gave him the doctorate degree, and that they will be submitted as soon as possible.

    SLPP’s administrative secretary receives bail

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    Renuka Perera, the Administrative Secretary of the Sri Lanka Podujana Peramuna (SLPP), who was arrested by the Computer Crimes Unit of the Criminal Investigation Department (CID), has been released on bail. The arrest was linked to a Facebook post that falsely portrayed a video of an LTTE commemoration in Australia as footage from a Mahaveer Day event in Sri Lanka.

    Colombo Additional Magistrate Manjula Ratnayake ordered Perera’s release today on a personal bail of Rs. 1 million.

    During the hearing, the Magistrate instructed the CID to apprehend and present individuals who had actually organized Mahaveer Day commemorations in Sri Lanka, rather than focusing on those who merely shared videos online.

    The Magistrate highlighted that the accusations against Perera did not fall under the Prevention of Terrorism Act (PTA) and lacked evidence under Section 120 of the Penal Code. He criticized the CID, stating, “Do not harm the messenger in cases where substantial evidence is absent.”

    The Magistrate emphasized that simply sharing videos on social media does not ethically justify treating individuals as suspects and called for adherence to minimum ethical standards when making arrests. He further provided an example where legal action was taken against a perpetrator in a past incident of child abuse, but not against those who shared the video of the incident.

    Concluding the session, the Magistrate reiterated that individuals responsible for organizing Mahaveer Day events, rather than those who posted related videos, should be held accountable and presented in court.

    Hambantota Port Rejuvenates Container Operations with $41 Million Crane Upgrade

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    The Hambantota International Port Group (HIPG) announced a significant investment of US dollars 41 million in state-of-the-art crane technology, set to be fully operational by January 2025. This enhancement includes the installation of four Quay Cranes (QC) and thirteen rubber-tyred gantry Cranes (RTGs) at the Hambantota International Port (HIP), expanding the port’s capabilities to a handling capacity of 1 million TEUs. 

    The four Quay Cranes which arrived on the mv. De Qiang 66 on 30th November feature a Twinlift 65m outreach, with impressive load ratings of 50 tons for single handling, 65 tons for tandem lifting, and 75 tons on the underhook beam. They provide a lifting height of 42m above rail and 20m below rail. The RTGs which arrived on the same date on vessel FENG HAI DA, have a span of 23.47m and a base distance of 6.9m, each offering a single handling capacity of 41 tons and a lifting height of 01-over-05. The modern QC and RTG cranes built to meet green port initiatives have advanced automation systems and anti-collision technology, ensuring high efficiency and safety during operations. 

    The new equipment are a significant addition to the two QCs and three RTGs, four Reach Stackers, and three Empty Stackers HIP currently operate. The new cranes are expected to take approximately two months for commissioning. 

    “Our investment in these new cranes will considerably enhance HIP’s container handling capabilities, positioning us as a fully-fledged multipurpose port for Sri Lanka,” says Wilson Qu, CEO of HIPG.  “This capacity building is crucial for our transshipment operations and will attract potential investors looking to establish manufacturing plants in our industrial zone. We already have several inquiries in regard to the setting up of manufacturing plants in the port’s industrial zone.  In addition to that, our marketing team is committed to promoting these developments globally to engage the right partners for our initiatives.” The CEO added that the establishment of feeder services between Hambantota and Colombo expected soon, will enhance the coastal shipping network.  The addition of HIP’s capacity to the nation’s overall capacity will improve cargo movement efficiency, bringing Sri Lanka closer to its goal of handling 10 million TEUs between 2025 – 2026. 

    The upgraded facilities will not only bolster operations within the port’s industrial zone but will also stimulate industry growth in the southern hinterland, creating new opportunities for local entrepreneurs. The Hambantota International Port Group remains committed to its goal of making significant contributions towards uplifting Sri Lanka’s economy and maritime objectives through its initiatives.

    All former MPs have left the houses given from the government

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    All the former MPs have moved out of the Madiwela housing complex.

    It is to provide housing to the newly elected members of parliament.

    According to Parliamentary Secretary General Kushani Rohanadhira, 40 new MPs have received houses.

    20 re-elected MPs have already been accommodated.

    The handing over of houses started on December 3 following instructions from the new government to vacate the houses previously occupied by former MPs.

    Pohottuwa’s administrative secretary arrested

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    Sri Lanka Podujana Peramuna’s Administrative Secretary Renuka Perera has been arrested by the Computer Crime Investigation Division of the Criminal Investigation Department.

    He has been arrested for spreading false information on social media regarding the Mahaviru celebrations held in the north.

    Mr. Renuka Perera is going to be produced before the Aluthkade Magistrate Court.

    Don’t turn the parliament to a battleground

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    Leader of the House Mr. Bimal Ratnayake said that the Parliament should not be turned into a battleground.

    Mr. Bimal Rathnayake said this in response to a question raised by SJB Member of Parliament Mr. Dayasiri Jayasekara during a question regarding the current disaster situation.

    A meeting of party leaders was held in the Parliament regarding the current disaster situation.

    Deadline for O/L exam applications extended due to bad weather

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    The deadline for submitting applications for the 2024 (2025) G.C.E. Ordinary Level Examination has been extended to December 10, 2024, the Department of Examinations announced. This extension comes in response to the recent adverse weather conditions that disrupted communities across the country, according to Commissioner General of Examinations Amith Jayasundara.

    Applications were initially accepted online from November 5 to November 30, 2024. Now, students and private candidates have additional time to complete their submissions.

    The department emphasized that applications will only be accepted online through its official websites: www.doenets.lk or www.onlineexams.gov.lk/eic. School students must submit their applications through their school principals, while private candidates can apply directly online.

    For any questions or assistance, applicants can contact the hotline 1911, reach out via phone numbers 011278420801127845370112785922, or send an email to [email protected].

    Gayantha is the new Chief Opposition Whip

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    Gayantha Karunatilake, Member of Parliament (MP) from the Samagi Jana Balawegaya (SJB) has been appointed as the Chief Opposition Whip in Parliament. The announcement was made by fellow SJB MP Harshana Rajakaruna.

    Karunatilake, a senior parliamentarian with years of experience in politics and governance, steps into the role with the responsibility of coordinating opposition activities and representing the views of opposition parties in parliamentary matters. His appointment is seen as a strategic move to strengthen the opposition’s presence and ensure effective communication within Parliament.

    Landslide Warnings for 6 Districts

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    The National Building and Research Organisation (NBRO) has issued early landslide warnings for parts of six districts in Sri Lanka due to ongoing heavy rainfall. The warnings are in place until 4:00 p.m. tomorrow (December 3).

    A Level 1 (Yellow) warning has been issued for specific areas in the following districts: Badulla, Kandy, Kegalle, Kurunegala, Matale, and Nuwara Eliya. Residents in these areas are urged to remain alert and take necessary precautions.

    Affected areas include:

    • Badulla District: Badulla, Hali Ela, Meegahakiwula, Bandarawela, and Passara.
    • Kandy District: Several areas, including Pasbage Korale, Pathadumbara, Gangawata Korale, and Udunuwara.
    • Kegalle District: Aranayake, Bulathkohupitiya, Mawanella, and Ruwanwella.
    • Kurunegala District: Rideegama.
    • Matale District: Laggala Pallegama, Ukuwela, Rattota, and Ambanganga Korale.
    • Nuwara Eliya District: Kotmale, Hanguranketha, and Walapane.

    The NBRO advises residents in these areas to stay updated on weather alerts and be cautious, especially if living near hilly or landslide-prone areas.

    Protest in front of Isurupaya – Roads blocked

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    A tense situation unfolded outside the Ministry of Education in Isurupaya, Battaramulla, as police tried to break up a protest by Development Officers. The officers were demanding permanent jobs in the teaching service.

    During the protest, the Kottawa-Borella Road (174 bus route) was completely blocked, causing heavy traffic. The situation turned violent, with several police officers getting injured and three protestors being arrested.

    The Development Officers say they want their positions made permanent in the teaching service, which has led to growing frustration and protests. Authorities are now working to address their demands and calm the situation.

    Country’s Air Quality Shows Signs of Improvement

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    The Central Environmental Authority (CEA) reports that Sri Lanka’s Air Quality Index (SLAQI) is gradually improving, trending toward moderate levels in several regions. Speaking at a media briefing, CEA spokesperson Dr. Ajith Gunawardena noted that SLAQI readings were between 100 and 110 as of December 1. He reassured the public that the current slightly unhealthy air quality is temporary and expected to improve significantly within the next two days.

    Recent adverse weather and a northern border disturbance caused air quality levels to decline in Colombo and other areas. As of yesterday, many cities recorded slightly unhealthy air quality, while regions like Vavuniya, Kegalle, Nuwara Eliya, Ratnapura, Puttalam, Mullaitivu, Batticaloa, Kalutara, and Anuradhapura experienced moderate conditions, according to the National Building Research Organisation (NBRO).

    For today, the NBRO predicts AQI levels will range between 86 and 120, with slightly unhealthy air in urban areas due to transboundary effects from the northern region. However, moderate levels are expected in Vavuniya, Nuwara Eliya, Embilipitiya, Hambantota, and Anuradhapura.

    The NBRO advises sensitive individuals to consult medical professionals if they experience respiratory discomfort during this period.

    Party Leaders to Meet Tomorrow

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    Party leaders will convene tomorrow (December 3) for a crucial meeting chaired by Leader of the House, Bimal Rathnayake. Discussions will focus on finalizing decisions about recalling nominations for the LG Elections.

    Previously submitted nominations were invalidated due to various reasons, including candidates switching political affiliations, some retiring from politics, and others leaving the country. The meeting aims to address these issues and set a clear path forward for the electoral process.

    Local Government Election Announcement will be Delayed

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    The announcement for Sri Lanka’s upcoming Local Government (LG) Elections will be delayed until the conclusion of the 2024 G.C.E. Advanced Level Examination to avoid campaign activities disrupting the exam period. The Election Commission explained that releasing the announcement earlier could lead to campaigning while students are sitting for their exams.

    Despite delays caused by adverse weather, the exams are set to resume this week, paving the way for the elections announcement soon after their completion.

    Deflation won’t continue for a long time – CBSL Governor

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    The Central Bank of Sri Lanka (CBSL) does not anticipate prolonged deflation affecting the country’s production, according to Assistant Governor Dr. Chandranath Amarasekara. Speaking at the 2024 monetary policy review briefing, he stated that deflation is expected to end by the second quarter of next year.

    In response to concerns about corporate profitability in the event of extended deflation, CBSL Governor Dr. Nandalal Weerasinghe clarified that lower production costs during deflation could lead to increased profitability.

    Dr. Weerasinghe also noted that Sri Lanka currently has no need for foreign exchange swaps, citing improved official reserves and sufficient liquidity.

    K.V.K. Alwis, Director of the Payments and Settlements Department, announced ongoing discussions with Indian authorities to allow Sri Lankans to use Sri Lankan rupees in India. This system would be similar to the UPI payment system available to Indian travellers in Sri Lanka.

    In November, Sri Lanka experienced a record deflation rate of 2.1%, the highest since 1961, due to significant reductions in energy and volatile food prices. Despite this, CBSL projects inflation to stabilize at a target of 5% in the coming months.

    Murdu Fernando becomes the 2nd woman Chief Justice in Sri Lanka’s history

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    Justice Murdu Fernando took her oath as Sri Lanka’s new Chief Justice today (December 2) in a ceremony before President Anura Dissanayake. She becomes the second woman in Sri Lanka’s history to hold this prestigious position, following Shirani Bandaranayake, who was appointed in 2011.

    Justice Fernando now serves as the 48th Chief Justice of Sri Lanka, succeeding Jayantha Jayasuriya upon his recent retirement. Her appointment was formally approved by the Constitutional Council.

    Starting her career at the Attorney General’s Department in 1985, Justice Fernando steadily rose through the ranks, becoming Deputy Solicitor General in 1997 and Additional Solicitor General in 2014. Her extensive service, spanning over 30 years, culminated in her appointment to the Supreme Court in March 2018.

    As the most senior Supreme Court Justice prior to her appointment, she has made significant contributions to the development of Sri Lanka’s legal framework. Her earlier roles included serving as Senior Additional Solicitor General at the Attorney General’s Department, highlighting her dedication to public service.

    Justice Fernando is a graduate of the Faculty of Law at the University of Colombo, where she earned her Bachelor of Laws degree.

    The oath-taking ceremony was attended by several distinguished guests, including Secretary to the President, Dr. Nandika Sanath Kumanayake.

    CEB is Preparing for a Revised Electricity Tariff Plan

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    The Ceylon Electricity Board (CEB) is set to present a revised electricity tariff proposal to the Public Utilities Commission of Sri Lanka (PUCSL) on December 6. This follows a previous submission proposing reductions between 6% and 11%, which the PUCSL rejected, requesting further revisions.

    CEB spokesperson, Engineer A.D.K. Parakrama Singha, confirmed that the revised proposal has reached its final stages of preparation. The PUCSL had earlier requested that the CEB incorporate a detailed analysis of projected costs for the first half of 2025 into its plans.

    With the clock ticking, the CEB aims to balance public expectations of reduced tariffs while aligning with regulatory requirements. Whether the PUCSL will accept the new proposal remains to be seen.

    Update on Laugfs Gas Situation

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    Dr. Niroshan J. Peiris, Group CEO of Laugfs Gas, has stated that no decision has been made regarding a price revision for Laugfs Gas.

    He also revealed that a shipment of 22,000 metric tons of gas has recently arrived in Sri Lanka. The distribution of this stock across the country has already commenced.

    Dr. Peiris further mentioned that approximately 100,000 cylinders of gas are being distributed daily to meet demand.

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