Aviation

Sri Lanka Air Force boosts canine capacity

Friday January 15, 2021 11:12 am

ECONOMYNEXT – The Sri Lanka Air Force is expanding its capability to detect narcotics and explosives at airports with the addition of twenty canines brought from the Netherlands specialised in the task.

The passing out parade of the new Air-dogs was reviewed by SLAF chief Air Marshall Sudarshana Pathirana.

The dogs and their handlers were trained at the Sri Lanka Police Kennel Division in Asgiriya and the National Dangerous Drugs Control Board using live samples of explosive and narcotic substances.

The SLAF runs the sniffer dogs at all international airports in Sri Lanka and are also trained to assist search and rescue teams in times of disaster, including landslides.

Financial assistance for the air dogs was by the Civil Aviation Authority of Sri Lanka.

Five Belgian Malinois, five Labrador Retrievers, five German Shepherds and five English Springer Spaniels, joined the Air Dog Unit on January 13.

The SLAF Air Dog unit was set up on 23 August 1972 was re-designated as the No 48 Regiment Wing in 2012. It was again re-designated as the Air Dog Wing in early 2013.

From July 16, 2013 it is known as the SLAF Air Dog Unit.

The unit is commanded by Wing Commander Niroshan Kumarasinghe.

The SLAF Air Dog Unit functions under Director Ground Operations and is actively involved in Air Field Defence Operations, Search Operations at all International Airports of the country and in Search and Rescue Operations during natural disasters, the SLAF said. (Colombo/Jan15/2021)

Reported by Imesh Ranasinghe

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Debt Restructuring

Sri Lanka President cleared to discuss cancelled LRT after soured Japan relations

Tuesday May 30, 2023 12:57 pm

ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers approved a proposal by President Ranil Wickremesinghe discuss resuming a Japan funded. Light Rail Transit (LRT) project cabinet spokesman said, as the island nation is in the process of mending ties with Tokyo.

However, any such deals are likely to take place after the debt restructuring and Sri Lanka starts to repay its foreign loans to come out of default, analysts say.

Former President Gotabaya Rajapaksa unilaterally cancelled the 1.5 billion US dollar LRT and East Container Terminal (ECT) projects in 2021. Japan agreed to fund the LRT project while it was one of the tripartite members of the ECT project along with India and Sri Lanka.

The abrupt cancellation hit the diplomatic ties between the two countries and Sri Lankan government officials have said Japan had given the project to Sri Lanka at a very lower financing cost.

President Wickremesinghe returned from Japan late last week after having met top officials of the Japanese government including its prime minister.

“In recent history, due to the stopping of several agreements and proposals suddenly, President Wickremesinghe went to Japan after creating the background to clear some of the worries we have,” Cabinet Spokesman Bandula Gunawardena told the weekly media briefing.

“Before he went, he got the approval from the cabinet to resume the discussion on the light railway project. He got the approval from the cabinet to get parliament approval for bilateral agreements signed or any other investments project. Any change or cancellation of a project could be done only with the approval of the parliament.”

Japan has backed Sri Lanka under Wickremesinghe’s presidency after the island nation declared sovereign debt default. (Colombo/May 30/2023)

Legal

Sri Lanka to tighten grip on television with broadcast law

Tuesday May 30, 2023 12:52 pm

ECONOMYNEXT – Sri Lanka has formulated a broadcast authority law to regulate electronic media which will be made public soon, Cabinet spokesman Minister Bandula Gunawardana said.

“The draft prepared by a cabinet subcommittee under Justice Minister Wijedasa Rajapaksa has discussed with various parties will be given to all media institutions and broadcast media,” Gunawardana said.

“We do not have to hide or force anyone. A legal framework that can be acceptable to all for all sectors.”

“In a week or two Minister Wijedasa will discuss with state and private stakeholders.”

At the moment Sri Lanka has issued frequencies without conforming to an “international procedures”, he said.

In Sri Lanka television frequencies are issued under a state television act.

Successive administrations in Sri Lanka has since around 1980 mis-used state television duopoly which including for conducting elections according to critics.

Private television as well a raio emerged around the 1990s and has since over shadowed state media.

There have been calls by ruling party politicians from time to time to control private media. There is now calls to control social media.

At a Committee on Public Accounts meeting of the Department of Government Information, ruling coalition legislators called for regulation of television content. (Colombo/May30/2023)

Bonds & Forex

Sri Lanka rupee at 296.75/297.25 to dollar at open, bond yields steady

Tuesday May 30, 2023 9:37 am

ECONOMYNEXT – Sri Lanka’s rupee opened at 297 /297.50 against the US dollar in the spot market on Monday, while bond yields were steady, dealers said.

The rupee closed at 296.75 /297.25 to the US dollar on Monday after opening around 296.50 /297.50 rupees.

A bond maturing on 01.09.2027 was quoted at 26.50/75 percent steady from Friday’s close at 26.50/65 percent.

Sri Lanka’s rupee is appreciating amid negative private credit which has reduced outflows after the central bank hiked rates and stopped printing money. (Colombo/ May 29/2023)