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Wednesday September 27th, 2023

Gota will win by 10 per cent margin – Basil

Sri Lanka Podujana Peramuna (SLPP) expressed its confidence today (13) that its presidential candidate Gotabaya Rajapaksa will win the upcoming presidential election by a margin of at least ten per cent.

Addressing a press conference at the Kingsbury Colombo this morning, SLPP architect Basil Rajapaksa said that rival candidate Sajith Premadasa will receive the lowest percentage of votes ever received by a runner-up candidate in Sri Lanka’s presidential election history.

“We are sure our candidate will win by a margin of ten per cent votes, minimum. Out of the nine provinces, we will definitely win seven.  We will also win more than 120 electorates. Yesterday we witnessed the last full moon (Poya) under the present government. The next full moon will rise under a government of Gotabaya Rajapaksa,” said Rajapaksa.

Asked whether it is not hypocritical of the SLPP to accuse the government of a slanted foreign policy when Basil Rajapaksa, himself an American citizen, is leading the party’s presidential campaign, Rajapaksa responded that his “heart is Sri Lankan”.

“More than winning, we believe in our people. The people need a change. In January 2015, people elected the present government with high expectations but all their hopes were destroyed. That is why we say that victory is necessary. It will not be limited to a particular race or religion,” he said.

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Sri Lanka to introduce social security system: minister

ECONOMYNEXT – Sri Lanka’s Labour minister has said that they are set to introduce a comprehensive national social security system, covering all workers.

“The system will address the weaknesses of the current system and provide much-needed support to workers and their families,” Manusha Nanayakkara, Minister of Labour and Foreign Employment said on X (formerly known as Twitter).
He did not specify the details.

Nanayakkara also spoke of the need for robust social security when he met with exporters last week to discuss labor law reforms, boosting female workforce participation and attracting FDI.

Sri Lanka plans to reform labour laws for an export-oriented economy.

The pandemic and the economic crisis highlighted the need to improve the coverage of social security.

Studies have shown that Sri Lanka’s women are kept out of formal employment by childcare, elderly care and housework, as day care and elderly homes are either too expensive or too few.

The government imposed a Social Security Contribution Levy to increase its revenue last year. (Colombo/Sep27/2023)

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Sri Lanka’s stocks up in trading on Wednesday morning

ECONOMYNEXT – Sri Lanka shares were picking up in trading on Wednesday morning.

Turnover was at 50 million. Trading in the Capital Goods Industry Group was driving turnover.

The All Share Price Index was up 0.37 percent or 41.78 points to 11,289.94, while the S&P SL20 was also up 0.68 percent or 21.66 points to 3,187.65.

Hatton National Bank, Commercial Bank and LOLC saw gains in morning trade, while Tokyo cement and Lanka Hospitals were trading down during morning trading. (Colombo/Sep27/2023)

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Sri Lanka rupee opens at 323.50/324.10 to the US dollar, bond yields stable

ECONOMYNEXT – Sri Lanka’s rupee opened at 323.50/324.10 to the US dollar on Wednesday, after closing on Tuesday at 323.70/324.20 to the US dollar, dealers said.

A bond maturing on 01.08.2026 was quoted at 15.50/70 percent on Wednesday up from Tuesday’s close at 15.45/65 percent.

A bond maturing on 01.05.2028 was quoted at 14.50/55 percent from closing at Tuesday at 14.30/55 percent. (Colombo/Sep27/2023)

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