Consumer Affairs

Cooking gas shortages in Sri Lanka to be resolved in 7-10 days: cabinet spokesman

Mahadiya Hamza

Tuesday March 22, 2022 4:20 pm

By Mahadiya Hamza

Tuesday March 22, 2022 4:20 pm

ECCONOMYNEXT – Cooking gas shortages in Sri Lanka will be solved in seven to 10 days, co-cabinet spokesman and Plantations Minister Ramesh Pathirana said.

“The gas issue is being solved at the moment. Letters of credit (LCs) have been issued to clear two gas ships from the port,” the minister said, speaking at the weekly cabinet press briefing on Tuesday (22).

“We are hoping that the gas shortage will be solved in the coming few days.”

He said the state-owned Litro Gas which supplies 80 percent of the cooking gas in the market, is facing a surge in demand.

“At the moment is Litro is releasing 100,000 gas cylinders per day whereas before they were supplying around 85,000 to 90,000 per day,” said Pathirana.

“Due to the shortage of gas supply in the last few weeks, the demand has risen. It will take another seven to 10 days for the demand to settle.”

The central bank has agreed to release dollars “so we are hoping it will be sorted in a couple of days,” he added.

Consumer Affairs Minister Lasantha Alagiyawanna had too assured reporters during a visit to the Litro gas company premises on Monday that there is “no need to fear a gas shortage in the coming two-three months.”

He said from Monday (21) onwards the company will somehow supply the cooking gas needed for the market in collaboration with all relevant authorities.

“There is a price increase in the international market. We must admit that never in the history of Sri Lanka we have experienced this kind of a gas shortage in the country,” said Alagiywanna.

As commodity prices skyrocket in the country after a rupee devaluation, the other LP gas supplier in the market, Laugfs Gas Pvt Ltd increased its prices.

According to reports, a 12.5kg domestic Laugfs gas cylinder price was increased by 1,359 rupees to 4,199.

A 5kg cylinder was increased by 544 rupees to 1,680.

This is the third time the company has increased prices since August 2021.

Litro officials told EconomyNext that they opted out of a price hike. (Colombo/Mar22/2022)

FILED UNDER: cooking,CPC,fuel,ioc,Laugfs,litro,lp gas,shortage,Sri Lanka

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Markets

Sri Lanka stocks close up as some investor interest returns

Monday December 4, 2023 6:12 pm

ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, CSE data showed.

The All Share Price Index was up 0.22 percent, or 23.33 points, at 10,743.59.

The S&P SL20 index was up 0.68 percent, or 20.60 points, at 3,067.73.

Turnover was at 708 million. The banks sector contributed 189 million, while the food, beverage and tobacco sector contributed 176 million of this.

Sri Lanka’s stock market has seen some investor interest return after last week’s news that the country had managed an agreement on a debt restructuring deal with an official creditor committee, and foreign funds for some development projects resumed.

Top positive contributors to the ASPI in the day were Sampath Bank Plc (up at 71.50), LOLC Holdings Plc (up at 379.00), and Commercial Bank of Ceylon Plc, (up at 90.90).

There was a net foreign outflow of 52 million.

Citrus Leisure Plc, which announced that its banquet hall and revolving restaurant at the Lotus Tower would launch on or around Dec 9, saw its share price rise to 6.20 rupees. (Colombo/Dec4/2023).

Bonds & Forex

Sri Lanka rupee closes broadly steady at 328.10/30 to the US dollar

Monday December 4, 2023 5:24 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.10/30 to the US dollar on Monday, from 328.00/10 on Friday, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.70/14.00 percent from 13.70/95 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.10 percent from 13.90/14.05 percent.

A bond maturing on 15.01.2027 closed at 14.00/14.10 percent from 14.05/10 percent.

A bond maturing on 01.07.2028 closed at 14.20/35 percent from 14.15/25 percent.

A bond maturing on 15.05.2030 closed at 14.25/45 percent, from 14.20/45 percent.

A bond maturing on 01.07.2032 closed at 14.05/40 percent, from 14.00/45 percent. (Colombo/Dec4/2023)

Crime

Gov minister highlights abortion rights, sex-ed for children, and Sri Lanka men killing their women

Monday December 4, 2023 4:21 pm

ECONOMYNEXT – Sri Lanka’s legislators have politicized the topics of rape and violence without addressing the elephant in the room, Jeevan Thondaman, Minister of Water Supply and Estate Infrastructure Development said in parliament on Monday (4).

“All the members here are talking about rape. What happens after that? We must talk about abortion rights. That is not something anyone wants to touch on, and that is why we are in this place right now,” Thondaman said.

“Despite alarming statistics on rape and violence, women are often blamed and punished for it. The criminalisation of abortion is a major example of this.”

Sri Lanka has some of the most restrictive abortion laws in the world. According to a 2016 estimate by the Health Ministry, he said, approximately 658 abortions take place a day, and close to 250,000 a year.

“That’s 250,000 women whose lives you are endangering.”

He added that what was needed at this point in time was comprehensive sexual education (CSE) for children and young people.

“Only through CSE in schools will children and young people develop, accurate, age appropriate knowledge attitude and skills; positive values such as respect for human rights, gender equality, diversity and attitude and skills that contribute to a safe, healthy and positive relationship.”

Thondaman pointed out that CSE plays a pivotal role in preparing young people for a world where HIV, AIDS, sexually transmitted infections, unintended pregnancies, and sexual and gender based violence still pose a risk to their well-being.

“CSE basically empowers children take control and make informed decisions freely and responsibly.”

Thondaman also highlighted the findings of a 2021 study (Fatalities_20211109_UNFPA) by the UNFPA and the University of Kelaniya that showed that a majority of women killed in Sri Lanka were murdered by those close to them.

“62 percent of homicides of Sri Lankan women are committed by either an intimate partner, ex-partner or family member. 84 percent are killed in their own homes by someone they know.”

Police and the judiciary have failed Sri Lanka’s women, the minister pointed out.

“Only 5 percent of these cases, between 2013-2017, were ever concluded. Men claim they were provoked, or are of unsound mind or have mental illness: These have been successful defenses. And the Police often express sympathy to this narrative as opposed to the victim’s.”

“We have a history of protecting oppressors.”

It takes 7-10 years for a child rape case to conclude, he pointed out.

Establishment of child courts are needed, he said, as well as several legislative amendments. “The government is working on a new law to reform the domestic violence act, reform of marriage and divorce laws to ensure there is an easier path to divorce: no one should be forced to remain in a marriage that is either abusive or not healthy.” (Colombo/Dec4/2023)