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Tuesday November 29th, 2022

COVID positive inmate from Kandakadu is on the loose after escaping from IDH – Police

CAPTURD – Elsiyam Nazeem a COVID 19 infected inmate from Kandakadu who escaped from the IDH this morning has been found

ECONOMYNEXT – Police are seeking public assistance to hunt down a COVID 19 positive inmate from the Kandakadu Rehabilitation camp who has escaped from the Infectious Diseases Hospital near Colombo.

The 41-year-old man, Elsiyam Nazeem, is a native of Sinnampillaisimei, Vallimalar in Trincomalee, a notice issued by Police this morning said.

Nazeem is described as having an injury to his left leg and walks with a limp, the notice said.

He has escaped from the hospital in the early hours of today, Friday, July 24.

Nazeem is “heavily addicted to drugs and is a suspect in various crimes,” Police said.

Col Media Vijitha Hettiarachchi who speaks for the Centre for the Prevention of COVID 19 said that Nazeem had been admitted to Kandakadu on May 20 and confirmed as COVID positive on July 7.

He told EconomyNext that medical staff had initially dispatched him from Kandakadu to the Polonnaruwa Hospital and from there he had been sent to IDH earlier in the week.

Some 561 inmates, staff and close associates at the Kandakadu and Senapura rehabilitation camps near Polonnaruwa have contracted the disease.

The camp authorities set up a hospital in the same facility to isolate and treat the inmates as it was believed that they could not be moved to regular hospitals as recovering drug addicts they had to be treated separately.

There was also the fear that they would escape from regular hospitals.

However, one patient, probably Nazeem, was transferred to the IDH earlier this week as he had developed symptoms.

The Public is asked to call 119 or the following numbers to report any sightings of Nazeem.

0718591017

0718592290

0718591864

(Colombo, July 24, 2020) Reported by Arjuna Ranawana

 

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  1. sacre blieu says:

    He should be tried for mass murder and he very likely knows of the very grave risk he is to the population.

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  1. sacre blieu says:

    He should be tried for mass murder and he very likely knows of the very grave risk he is to the population.

Sri Lanka rubber farmers to get boost from France, Michellin

ECONOMYNEXT – Sri Lanka will start a project supported by France and Michellin group to support 6,000 rubber farmers, cabinet spokesman Minister Bandula Gunawardena said.

Rubber farmers in Badalgama and Medagama in the Moneragala district will be supported improve their capacity and supply chains at a cost of 726,700 Euros.

Financial support will be provided by France’s Michellin group which has a subsidiary in Sri Lanka and the government of France.

The project will be implemented by France’s Ksapa group under the guidance of Ministry of Industries.

The cabinet of ministers had cleared a proposal by the Plantations Industries Minister to enter into an agreement to implement the project. (Colombo/Nov29/2022)

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A new Sri Lanka monetary law may have prevented 2019 tax cuts?

ECONOMYNEXT – A new monetary law planned in 2019, if it had been enacted may have prevented the steep tax cuts made in that year which was followed by unprecedented money printing, ex-Central Bank Governor Indrajit Coomaraswamy said.

The bill for the central bank law was ready in 2019 but the then administration ran out of parliamentary time to enact it, he said.

Economists backing the new administration slashed taxes in December 2019 and placed price controls on Treasuries auctions bought new and maturing securities, claiming that there was a ‘persistent output gap’.

Coomaraswamy said he keeps wondering whether “someone sitting in the Treasury would have implemented those tax cuts” if the law had been enacted.

“We would never know,” he told an investor forum organized by CT CLSA Securities, a Colombo-based brokerage.

The new law however will sill allow open market operations under a highly discretionary ‘flexible’ inflation targeting regime.

A reserve collecting central bank which injects money to push down interest rates as domestic credit recovers triggers forex shortages.

The currency is then depreciated to cover the policy error through what is known as a ‘flexible exchange rate’ which is neither a clean float nor a hard peg.

From 2015 to 2019 two currency crises were triggered mainly through open market operations amid public opposition to direct purchases of Treasury bills, analysts have shown.

Sri Lanka’s central bank generally triggers currency crises in the second or third year of the credit cycle by purchasing maturing bills from existing holders (monetizing the gross financing requirement) as private loan demand pick up and not necessarily to monetize current year deficits, critics have pointed out.

Past deficits can be monetized as long as open market operations are permitted through outright purchases of bill in the hands of banks and other holders.

In Latin America central banks trigger currency crises mainly by their failure to roll-over sterilization securities. (Colombo/Nov29/2022)

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Sri Lanka cabinet clears CEB re-structure proposal: Minister

ECONOMYNEXT – Sri Lanka’s cabinet has cleared proposals by a committee to re-structure state-run Ceylon Electricity Board, Power and Energy Minister Kanchana Wijeskera said.

“Cabinet approval was granted today to the recommendations proposed by the committee on Restructuring CEB,” he said in a twitter.com message.

“The Electricity Reforms Bill will be drafted within a month to begin the unbundling process of CEB & work on a rapid timeline to get the approval of the Parliament needed.”

Sri Lanka’s Ceylon Electricity Board finances had been hit by failure to operate cost reflective tariffs and there are capacity shortfalls due to failure to implement planned generators in time. (Colombo/Nov28/2022)

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