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Tag: Lanka

  • Wickremsinghe among 3 leaders in race for Presidency

    Wickremsinghe among 3 leaders in race for Presidency

    Wickremesinghe is to compete with the support of the section of former President Rajapksa’s party, Sri Lanka Podujana Peramuna (SLPP)…report Susitha Fernando

    Three leaders, including Prime Minister-turned-acting President Ranil Wickremesinghe, are to contest in the first-ever race for Sri Lanka’s Presidency on Wednesday.

    Wickremesinghe is to compete with the support of the section of former President Rajapksa’s party, Sri Lanka Podujana Peramuna (SLPP).

    Leader of Samgai Jana Balawegaya (SJB) or United People’s Power party and the Opposition Leader, Sajith Premadasa withdrew from the contest and proposed the name of Dullas Alahapperuma, former Media Minister of Rajapaksa government and also a member of the SLPP for the presidential post while it was seconded by SLPP chairman G. L. Peiris.

    According to media reports, the contract between the SJB and the sections of the SLPP was to appoint Sajith Premadasa the Prime Minister if Alahapperuma wins the Presidential post.

    As the third contender Marxist party leader, Anura Kumara Dissanayake’s name was included for the race.

    The once powerful Mahinda Rajapaksa’s SLPP which won 145 seats out of 225 IN 2020 Parliamentary election has been divided into two sections now and are to support Ranil and Dullas. The party was divided with the immense public unpopularity over the allegation of corruptions by the Rajapaksa family.

    Ex-President Gotabaya Rajapaksa had to flee the country following three months of continuous protests after people were burdened by the debt-ridden economy with skyrocketing inflation.

    People blamed Rajapaksa for his unforeseen decisions with massive tax cut and overnight change from inorganic farming to organic for the downfall of food production and loss of jobs for majority of farmers.

    With no fuel, cooking gas, medicine, food and fertiliser, people took to the streets from March 31 and amid mounting public protest Mahinda Rajapaksa and his cabinet had to step down on May 9 and on July 9, President Gotabaya Rajapaksa announced that he would resign when protesters took over his official residence, office and Prime Minister’s official house, the Temple trees.

    However, Rajapaksa fled to the Maldives and later to Singapore from where he announced his resignation. In the absence of a President, Wickremesinghe was appointed the Acting President.

    ALSO READ: Fitch lowers Pakistan’s outlook to negative

  • Dalai Lama expresses solidarity with Lankan people

    Dalai Lama expresses solidarity with Lankan people

    “His Holiness expresses hope for stability, prosperity and well-being to be promptly restored in the country, said the letter…reports Asian Lite News

    Tibetan spiritual leader, the Dalai Lama, has offered prayers for a swift end to the crisis in Sri Lanka.

    Conveying deep lament over the developing crisis in Sri Lanka, a letter extended to the Sri Lankan Tibetan Buddhist Brotherhood Society says, “His Holiness expresses hope for stability, prosperity and well-being to be promptly restored in the country.

    “His Holiness is hopeful that no matter how difficult the situation may be, people will not lose their enthusiasm and confidence in their ability to change the current circumstances for the better.

    The Office of Dalai Lama thanked the organisation for actively promoting the ethical values and commitments of His Holiness’ to the wellbeing of humanity on his birthday on July 6.

    The letter conveyed His Holiness’ appreciation for Senior Sangha members and other scholars, including Prof Chandima Wijebandara and Prof Miriswatte Wimalagnana Thero.

    “Indeed His Holiness was pleased to receive good wishes from all Mahanayake Theros of Sri Lanka. He conveys his hearty thanks to all the spiritual brothers and other speakers for their kind words,” the letter reads.

    ALSO READ: China’s illogical twist to Dalai Lama’s Ladakh visit

  • Uproar as states’ economic condition cited in all-party meet on Lanka

    Uproar as states’ economic condition cited in all-party meet on Lanka

    He clarified that there was “no political intent” but the officials presented economic situation of all the states…reports Asian Lite News

    An all-party meeting, called by the government on Tuesday on the Sri Lanka crisis, saw protests by members of opposition parties over the economic conditions of Indian states being discussed.

    External Affairs Minister S. Jaishankar said that Sri Lanka is in a serious crisis but dismissed suggestions that India could have a similar crisis. He said that the big lessons of Sri Lanka is to be drawn on fiscal prudence and good governance, and “fortunately in this country, under the leadership of the PM we have both in very ample measures”.

    However, as the presentation by Finance Ministry officials had apprehensions that freebies could damage economic condition of the states, the opposition objected to economic condition of the states being brought up.

    After the meeting, Jaishankar said: “It was government’s initiative as to tell the leader about the situation of the states.. total 46 parties we’re invited, 28 attended the meeting… 8 ministers were from government. Why we called this meeting is because… we wanted to all parties, all leaders of the country to appreciate… there is a very serious crisis in Sri Lanka… tje situation is in Sri Lanka is very unprecedented and facing a financial and political crisis.”

    He clarified that there was “no political intent” but the officials presented economic situation of all the states.

    However, Trinamool Congress MP Saugata Roy, who attended the meeting, said: “It was improper to call meeting on Sri Lanka and give presentation on states.”

    From the government side, Parliamentary Affairs Minister Pralhad Joshi was present while P Chidambaram and Manickam Tagore of the Congress, Nationalist Congress Party’s Sharad Pawar, DMK’s T.R. Baalu and M.M. Abdulla were among those present.

    ALSO READ-Lanka seeks support to probe Easter Sunday attack  

  • Lanka seeks support to probe Easter Sunday attack  

    Lanka seeks support to probe Easter Sunday attack  

    The coordinated, almost simultaneous, suicide attacks were carried out at three churches and three hotels…reports Asian Lite News

    Sri Lanka’s acting President Ranil Wickremesinghe on Monday announced that he will request assistance from the UK to investigate those responsible for the Easter Sunday attack.

    Making a special statement, he said that due to the “incomplete nature” of the investigations into the Easter Sunday attack, he is requesting the assistance of the UK government and their intelligence services to probe it.

    “The absence of a proper Easter Sunday investigation has meant that this issue has still not been fully resolved,” the Acting President said.

    The Easter Sunday suicide attack carried out by a group of Sri Lankans connected with Islamic terrorist groups on April 21, 2019 killed nearly 270, including 45 foreigners and injured over 500. The coordinated, almost simultaneous, suicide attacks were carried out at three churches and three hotels.

    The Catholic church has accused both former Presidents Maithripala Sirisena and Gotabaya Rajapaksa and former PM and present Acting President Wickremesinghe for being responsible for the attacks by not taking action to prevent them despite detailed intelligent information provided by India days prior to the attack.

    Meanwhile while awaiting Wednesday’s election of President from the Parliament, Wickremesinghe on Monday declared state of emergency where police and security given special powers in case public unrest and breach of law.

    With nearly three months long protests culminating in protesters taking over President’s house, his office, PM’s official house and office and President Gotabaya Rajapaksa fleeing the country, leaving it leaderless, Wickremesinghe was appointed the Acting President, as per constitutional provisions.

    ALSO READ-Threats to Lankan MPs ahead of Prez poll

  • Sajith Premadasa withdraws candidacy

    Sajith Premadasa withdraws candidacy

    Premadasa said that he is heading with this decision as he seeks the “greater good” for Lankans….reports Asian Lite News

    In a major announcement, Sri Lanka’s main opposition leader Sajith Premadasa on Tuesday withdrew his candidature for President of the island nation and said he is supporting rival candidate Dullas Alahapperuma for the top post.

    Premadasa took to Twitter to say that his party the Samagi Jana Balawegaya and its alliance and opposition partners will support Alahapperuma, an MP of the Sri Lanka Podujana Peramuna (SLPP), who is in the fray for the upcoming presidential elections.

    Premadasa said that he is heading with this decision as he seeks the “greater good” for Lankans.

    “For the greater good of my country that I love and the people I cherish I hereby withdraw my candidacy for the position of President. Samagi Jana Balawegaya and our alliance and our opposition partners will work hard towards making Dullas Alahapperuma victorious,”

    Dullas Alahapperuma is a senior lawmaker from the Sri Lanka Podujana Peramuna (SLPP) and a former journalist. He was a Cabinet minister in the previous Rajapaksa government.

    Prime Minister Ranil Wickremesinghe who is now the acting president is among those who are in the race for the post of the President to be held on July 20 in which 225 members of the House are eligible to vote and participate in the secret ballot.

    It is interesting to note that the main opposition leader Premadasa earlier said that he is set to contest the presidential elections. Terming the scenario of him winning Sri Lanka’s presidential elections an “uphill task”, Premadasa last Friday had said that he will contest the elections as he is convinced that the truth will prevail.

    Former President Gotabaya Rajapaksa had offered his resignation after fleeing the country to Singapore. The president first flew to the Maldives after tens of thousands of protesters stormed his official residence in the capital Colombo.

    The Sri Lankan Parliament announced that the nominations for the Presidential elections will be held on Tuesday and the new President of Sri Lanka will be elected on July 20.

    The economy in Sri Lanka is bracing for a sharp contraction due to the unavailability of basic inputs for production, an 80 per cent depreciation of the currency since March 2022, coupled with a lack of foreign reserves and the country’s failure to meet its international debt obligations.

    Hundreds of Sri Lankans continue to queue up at petrol pumps across the debt-ridden country every day amid fuel shortage, and a large number of people are ditching their cars and motorcycles for bicycles for their daily commute.

    The economic crisis which is the worst in Sri Lanka’s history has prompted an acute shortage of essential items like fuel. Long queues at fuel stations in Sri Lanka is the new normal and prices fluctuate subject to availability. Skyrocketing prices of fuel are also one of the reasons behind the spike in bicycle sales and some stores are running out of stock. (ANI)

    ALSO READ: Lanka: Citizens urged to take 4th jab

  • Lanka: Citizens urged to take 4th jab

    Lanka: Citizens urged to take 4th jab

    The vaccines can be obtained at all state hospitals, medical offices of health, and stipulated vaccination centres…reports Asian Lite News

    Sri Lanka’s Health Ministry has urged the people to take the fourth dose of the Covid-19 vaccine given the emergence of a new Covid-19 variant.

    Director General of Health Services Asela Gunawardena on Monday said that more than 95 per cent of the people have received their second dose of the vaccine, Xinhua news agency reported.

    However, a significantly lower percentage of the people have taken the third dose of the Covid-19 vaccine, he added.

    Taking four doses of the vaccine minimised the risk of contracting the virus and in case of infection, the severity of the disease will also be lower, the Health official said.

    The vaccines can be obtained at all state hospitals, medical offices of health, and stipulated vaccination centres, Gunawardena added.

    ALSO READ: Easter attacks probe: Lanka seeks UK’s help

  • Threats to Lankan MPs ahead of Prez poll

    Threats to Lankan MPs ahead of Prez poll

    Police Headquarters has instructed the Criminal Investigations Department (CID) to investigate the crime….reports Asian Lite News

    Sri Lankan Members of Parliament have complained of receiving threat messages warning them against voting for Ranil Wickremsinghe in the Presidential vote on July 20 (Wednesday).

    The MPs said they had received threats on their social media accounts that they would face the brunt if their votes were cast for acting President Wickremesinghe, Daily Mirror reported.

    It has been observed that various posts are being published on social media platforms threatening parliamentarians if Wickremesinghe wins the Presidential vote, police said.

    Police Headquarters has instructed the Criminal Investigations Department (CID) to investigate the crime.

    ALSO READ: Easter attacks probe: Lanka seeks UK’s help

  • Easter attacks probe: Lanka seeks UK’s help

    Easter attacks probe: Lanka seeks UK’s help

    The Easter Sunday suicide attack carried out by a group of Sri Lankans connected with Islamic terrorist groups on April 21, 2019 killed nearly 270, including 45 foreigners and injured over 500….reports SUSITHA FERNANDO

    Sri Lanka’s acting President Ranil Wickremesinghe on Monday announced that he will request assistance from the UK to investigate those responsible for the Easter Sunday attack.

    Making a special statement, he said that due to the “incomplete nature” of the investigations into the Easter Sunday attack, he is requesting the assistance of the UK government and their intelligence services to probe it.

    “The absence of a proper Easter Sunday investigation has meant that this issue has still not been fully resolved,” the Acting President said.

    Sri Lanka Easter bombing

    The Easter Sunday suicide attack carried out by a group of Sri Lankans connected with Islamic terrorist groups on April 21, 2019 killed nearly 270, including 45 foreigners and injured over 500. The coordinated, almost simultaneous, suicide attacks were carried out at three churches and three hotels.

    The Catholic church has accused both former Presidents Maithripala Sirisena and Gotabaya Rajapaksa and former PM and present Acting President Wickremesinghe for being responsible for the attacks by not taking action to prevent them despite detailed intelligent information provided by India days prior to the attack.

    Meanwhile while awaiting Wednesday’s election of President from the Parliament, Wickremesinghe on Monday declared state of emergency where police and security given special powers in case public unrest and breach of law.

    With nearly three months long protests culminating in protesters taking over President’s house, his office, PM’s official house and office and President Gotabaya Rajapaksa fleeing the country, leaving it leaderless, Wickremesinghe was appointed the Acting President, as per constitutional provisions.

    ALSO READ: Lanka a lesson for other Asian nations: IMF

  • Lanka a lesson for other Asian nations: IMF

    Lanka a lesson for other Asian nations: IMF

    China has been a dominant lender to several of these developing nations and therefore could control their destinies in crucial ways, said IMF chief…reports Asian Lite News

    Sri Lanka is in the midst of a deep and unprecedented economic crisis that has sparked huge protests and seen its president quit after fleeing the country – but other countries could be at risk of similar troubles, according to the head of the International Monetary Fund (IMF), BBC reported.

    “Countries with high debt levels and limited policy space will face additional strains. Look no further than Sri Lanka as a warning sign,” said IMF Managing Director Kristalina Georgieva on Saturday.

    She said developing nations had also been experiencing sustained capital outflows for four months in a row, putting their dreams of catching up with advanced economies at risk.

    But the same global headwinds – rising inflation and interest rate hikes, depreciating currencies, high levels of debt and dwindling foreign currency reserves – also affect other economies in the region.

    China has been a dominant lender to several of these developing nations and therefore could control their destinies in crucial ways. But it’s largely unclear what Beijing’s lending conditions have been, or how it may restructure the debt, BBC reported.

    Where China is at fault is, according to Alan Keenan from International Crisis Group, is encouraging and supporting expensive infrastructure projects that have not produced major economic returns.

    Fuel prices in Pakistan are up by around 90 per cent since the end of May, after the government ended fuel subsidies. It’s trying to rein in spending as it negotiates with the IMF to resume a bailout programme.

    The economy is struggling with the rising cost of goods. In June, the annual inflation rate hit 21.3 per cent, the highest it has been in 13 years.

    Like Sri Lanka and Laos, Pakistan also faces low foreign currency reserves, which have almost halved since August last year.

    “If they are able to unlock these funds, other financial lenders like Saudi Arabia and the UAE may be willing to extend credit,” Andrew Wood, sovereign analyst at S&P Global Ratings told the BBC.

    International Monetary Fund (IMF) Managing Director Kristalina Georgieva

    Again China plays a role here, with Pakistan reportedly owing more than a quarter of its debt to Beijing, BBC reported.

    “Pakistan appears to have renewed a commercial loan facility vis-a-vis China and this has added to its foreign exchange reserves and there are indications they will reach out to China for the second half of this year,” Wood added.

    The Maldives has seen its public debt swell in recent years and it’s now well above 100 per cent of its GDP.

    Like Sri Lanka, the pandemic hammered an economy that was heavily reliant on tourism.

    Countries that depend so much on tourism tend to have higher public debt ratios, but the World Bank says the island nation is particularly vulnerable to higher fuel costs because its economy is not diversified.

    US investment bank JPMorgan has said the holiday destination is at risk of defaulting on its debt by the end of 2023, BBC reported.

    In Bangladesh, inflation hit an 8-year high in May in Bangladesh, touching 7.42 per cent.

    With reserves dwindling, the government has acted fast to curb non-essential imports, relaxing rules to attract remittances from millions of migrants living overseas and reducing foreign trips for officials.

    “For economies running current account deficits — such as Bangladesh, Pakistan and Sri Lanka — governments face serious headwinds in increasing subsidies. Pakistan and Sri Lanka have turned to the IMF and other governments for financial assistance,” Kim Eng Tan, a sovereign analyst at S&P Global Ratings told the BBC.

    “Bangladesh has had to re-prioritise government spending and impose restrictions on consumer activities,” he said.

    Rising food and energy prices are threatening the pandemic-battered world economy. Now developing nations that have borrowed heavily for years are finding that their weak foundations make them particularly vulnerable to global shockwaves.

    ALSO READ: Fuel prices reduced amid shortage in Lanka

  • Fuel prices reduced amid shortage in Lanka

    Fuel prices reduced amid shortage in Lanka

    The diesel price will be slashed by Rs 20 per litre, thus the new price will be Rs 440, and the price for super diesel will be Rs 510 a litre following a reduction of Rs 10…reports Asian Lite News

    Sri Lanka’s state-owned Ceylon Petroleum Corporation (CPC) and the Lanka Indian Oil Corporation (LIOC) have reduced the retail price of fuel.

    The two state-owned oil companies reduced the retail price of fuel from Sunday evening, Xinhua news agency reported.

    The price of a litre of Octane 92 petrol will be reduced by Rs 20, and the new retail price will be Rs 450 ($1.25).

    Octane 95 petrol will sell for Rs 540 per litre, down by Rs 10.

    The diesel price will be slashed by Rs 20 per litre, thus the new price will be Rs 440, and the price for super diesel will be Rs 510 a litre following a reduction of Rs 10.

    The Ministry of Power and Energy also introduced a new digital system to systematise the distribution of fuel from July 21. Both the CPC and the LIOC will take part in the scheme.

    Sri Lanka has been facing crippling fuel shortage since February.

    In late June, CPC suspended distributing fuel for private vehicles.

    CPC will start fuel distribution from July 21, following the arrival of petrol and diesel shipments. (1$ equals 361 Sri Lankan rupees).

    ALSO READ: Sri Lanka calls out for a lion-hearted leader