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Sunday December 4th, 2022

Journo attack: Sri Lanka media minister ready to accept govt responsibility if investigations fail

ECONOMYNEXT – If Sri Lanka Police fails to find those responsible for the recent attack on journalist Chamuditha Samarawickrama’s residence, as media minister he would not hesitate to accept the government’s responsibility and take any decision necessary, co-cabinet spokesman Dullas Alahapperuma said.

Speaking at the weekly cabinet press briefing on Tuesday (15), Alahapperuma said a recent statement by him condemning the attack was still valid. On March 08, he made a similar statement that failure on the part of the police to find the culprits would inevitably result in the blame falling on the government.

“The government will be unable to absolve itself of that responsibility. I am still of that position,” the media minister said.

“Yesterday marked a month since the attack. I spoke to the police. They said investigations are still ongoing but they have yet to arrive at a conclusion. The file has not yet been closed, they told me. As I said last week, if this is not resolved, the responsibility will inevitably fall on us.”

The government would have to bear the shame of it if the police was  unable to find those responsible, said Alahapperuma.

“It doesn’t matter if the criminal is a politician clad in white, or an underworld figure dressed in black or a contractor in some other colour.

“We urge the police, as media minister, to continue investigations. If that cannot be done, I will not hesitate to say that it’s our responsibility. And I won’t hesitate to take any decision regarding that,” he added.

In the early hours of February 14, a gang of unidentified men invaded the gated community Samarawickrama lives in and allegedly threw bags of faeces at his residence. The journalist told EconomyNext that day that he also heard the sound of a gunshot.

Samarawickrama, considered a firebrand media personality with a large online following on top of a TV career going back over two decades, said he had no guesses as to who might have been behind the attack.

The government was quick to condemn the attack. The next day, Minister Alahapperuma said it unequivocally rejected the attack with unreserved disgust.

“The police is investigating the incident, and we urge the media to expose the attacker, this faeces lover,” said Alahapperuma said on February 15.

“It is clear that this faces lover is someone with no voice for democracy and is hiding in a lavatory.”

“It is the stink of a festering group of society that is emanating from this attack,” the minister said.

Samarawickrama has been courting controversy with a series of explosive interviews published on his YouTube channel ‘Truth with Chamuditha’.

His latest videos include one with the leader of the Ape Janabala Pakshaya, who had levelled allegations against controversial Buddhist monk Galabadaththe Gnanasara thero. The monk now heads a task force appointed by President Gotabaya Rajapaksa named ‘One Country, One Law’.

Another video interview with Chandimal Jayasinghe, the Sri Lankan franchise holder for the Mrs World pageant, had racked up over 350,000 views. In the video, Jayasinghe had made some remarks about Pushpika de Silva, who recently lost her Mrs Sri Lanka for Mrs World title, the culmination of a widely publicised scandal that erupted last year when her crown was forcibly taken off at the 2021 Mrs Sri Lanka pageant. (Colombo/Mar15/2022)

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Paris Club proposes 10-year moratorium on Sri Lanka debt, 15 years of debt restructuring

ECONOMYNEXT — The Paris Club group of creditor nations has proposed a 10-year debt moratorium on Sri Lankan debt and 15 years of debt restructuring as a formula to resolve the island nation’s prevailing currency crisis, India’s The Hindustan Times reported.

While the Paris Club has yet to formally reach out to India and China, Colombo has yet to initiate a formal dialogue with the Xi Jinping regime, the newspaper reported on Saturday December 03, inferring that the chances of the International Monetary Fund (IMF) approving its 2.9 billion dollar extended fund facility for Sri Lanka in December now ranges from very low to nonexistent.

“This means that Sri Lanka will have to wait for the March IMF meeting of the IMF before any aid is extended by the Bretton Woods institution,” the newspaper reported.

“Fact is that for Sri Lanka to revive, creditors will have to take a huge hair cut with Paris Club clearly hinting that global south should also take the same cut as global north notwithstanding the inequitable distribution of wealth. In the meantime, as Colombo is still to get its act together and initiate a dialogue and debt reconciliation with China, it will need bridge funding to sustain the next three month before the IMF executive board meeting in March 2023. Clearly, things will get much worse for Sri Lanka before they get any better—both economically and politically,” the report said. (Colombo/Dec04/2022)

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Sri Lanka’s Ceylon tea prices up amid low volumes

ECONOMYNEXT – Sri Lanka tea prices picked up at the last auction in November amid low volumes, brokers said.

“Auction offerings continued to record a further decline and totalled 4.2 million Kilograms, of which Ex-Estate offerings comprised of 0.6 million Kilograms. There was good demand,” Forbes and Walker Tea brokers said.

“In the Ex-Estate catalogues, overall quality of teas showed no appreciable change. Here again, there was good demand in the backdrop of extremely low volumes.”

High Growns

BOP Best Westerns were firm to 50 rupees per kg dearer. Below best and plainer types were Rs.50/- per kg easier on last.

Nuwara Eliya’s were firm.

BOPF Best Westerns were firm to selectively dearer. Below best and plainer teas declined by 50 rupees per kg.

Uva/Uda Pussellawas’ were generally firm and price variances were often reflective of quality with the exception of Select Best Uva BOPF’s which were firm and up to 50 rupees per kilogram dearer.

CTC teas, in general, were mostly firm.

“Most regular buyers were active, with perhaps a slightly more forceful trend from the local trade,” brokers said.

Corresponding OP1’s met with improved demand. Well-made OP/OPA’s in general were fully firm, whilst the Below Best varieties and poorer sorts met with improved demand. PEK/PEK1’s, in general, were fully firm to selectively dearer.

In the Tippy catalogues, well-made FBOP/FF1’s sold around last levels, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. Balance too were dearer to a lesser extent.

In the Premium catalogues, very Tippy teas continued to attract good demand. Best were firm to selectively dearer, whilst the Below Best and cleaner teas at the bottom appreciated

Low Growns

Low Growns comprised 1.8 million Kilograms. Market met with improved demand, in general.

In the Leafy & Semi Leafy catalogues, select Best BOP1/OP1’s were fully firm, whilst the Below Best/bolder BOP1’s were barely steady.

Low-grown teas, farmed mainly by smallholders and exported to the Middle East and Central Asia, are the most sought-after and expensive Ceylon Teas.

Low-grown CTC prices have gained this week to 982.80 per kilogram this week from 934.76 per kilogram last week.

Few Select best BOP1s maintained, whilst best and below best were irregularly lower. Poorer types maintained.

BOPF’s in general, firm market.

FBOPF/FBOPF1’s select best and best increased in value, whilst the below best and bottom held firm.

Selected best BOP1’s maintained, whilst best and below best were irregularly lower.Poorer types maintained.

OP1’s selects best together with best and below best were firm to dearer. Poorer sorts were fully firm.

Medium Growns

BOPF’s, select best gained by 50 rupees per kilogram. Others maintained.

BOP1’s select best dearer by 100 rupees per kg whilst all others moved up by 50 rupees per kg.

OP1: select best gained by 100 rupees per kg whilst all others dearer by 100 rupees per kg.

OP/OPA’s in general, dearer by 50 rupees per kg whilst the poorer sorts were firm.

PEK’s Select best gained by 50 rupees per kg whilst all others maintained. PEK1: In general, dearer by 50 rupees per kg. (Colombo/Dec 04/2022)

 

 

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Sri Lanka Ports Authority East Terminal contractor paid: Minister

ECONOMYNEXT – Sri Lanka’s Ports Authority had paid a deposit for a gantry crane and made the required payment for the contractor to complete building the East Container Terminal, Minister Nimal Siripala De Silva said.

The East Container Terminal, a part of which is already built is being completed as a fully SLPA owned terminal at a cost of 480 million dollars Ports and Shipping Minister de Silva said.

“ECT we are funding with money available in the ports authority,” he said.

“Up to now we have paid an advance for the gantry crane. And for the construction we have paid all the money agreed with the contractor. So that is going on well.”

Sri Lanka is undergoing the worst currency crisis in the history of the island’s soft-pegged (flexible exchange rate) central bank which has created difficulties in funding the project.

“Every penny we collect as dollars we are keeping them separately and utilizing that for the Eastern Terminal work,” Minister de Silva said.

“We are confident that the ECT will be completed within the envisaged time. It is a difficult task in view of the dollar problem.

Banks were also not releasing the dollar deposits of the SLPA earlier but are now doing so, he said.

“Our deposits in banks they have utilized for urgent other national purposes,” he said.

“So they are releasing that money slowly. I am happy that they are releasing that money little by little. So with that we will be able to manage that.”

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