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Tuesday December 5th, 2023

Sri Lanka “need to seriously consider” nuclear energy feasibility – President 

 

ECONOMYNEXT – Sri Lanka should consider a report on possibility of using nuclear energy, President Ranil Wickremesinghe said on Friday when delivering a keynote speech at ‘Reform Now’ economic forum organised by Colombo-based think tank Advocata Institute.

“I think we need to seriously consider getting a report on using nuclear energy in Sri Lanka,” he said when he was explaining the way forward with new avenues to boost economy.

“More energy you have, more energy you can sell to India. At the same time, keep more renewable energy available here.”

Sri Lanka has been struggling to meet its energy demand given it is mostly relying on fossil fuel and coal. A dollar shortage has already hit the imports of fuel which had led to power cuts.

India in February 2015 sealed a nuclear energy agreement with Sri Lanka and under the deal, India was to help Sri Lanka to build its nuclear energy infrastructure, including training of personnel. It was also planned that India could sell light small-scale nuclear reactors to Sri Lanka which had been wanted to establish 600 MW of nuclear capacity by 2030.

However, the project did not take off so far.  (Colombo/Aug 05/2022)

Comments (4)

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  1. Kumar says:

    Sri Lanka don’t have the money to pay for nuclear waste storage for 10, 000 years, at nuclear waste storage site.

  2. Manju says:

    Sri Lanka has only 65000 Squire KM s of land. If a nuclear accident happens, If will cause severe repercussions.
    Besides, initial costs are enormous to built it.
    Fukushima accident despite stringent safety measures showed the world how dangerous Nuclear accidents are.

    1. Bjorn says:

      You’re saying that we can’t use nuclear energy because of an accident that cost ONE (1) life? All the rest died as a result of the tsunami and the evacuation. With that standard we cannot use ANY energy source and might as well kill all of the human race.

  3. Kumar says:

    Sri Lanka can’t afford nuclear power. Half-life of nuclear waste is about 10,000 years and has to be store securely and it is expensive.

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Comments (4)

Cancel reply

Your email address will not be published. Required fields are marked *

  1. Kumar says:

    Sri Lanka don’t have the money to pay for nuclear waste storage for 10, 000 years, at nuclear waste storage site.

  2. Manju says:

    Sri Lanka has only 65000 Squire KM s of land. If a nuclear accident happens, If will cause severe repercussions.
    Besides, initial costs are enormous to built it.
    Fukushima accident despite stringent safety measures showed the world how dangerous Nuclear accidents are.

    1. Bjorn says:

      You’re saying that we can’t use nuclear energy because of an accident that cost ONE (1) life? All the rest died as a result of the tsunami and the evacuation. With that standard we cannot use ANY energy source and might as well kill all of the human race.

  3. Kumar says:

    Sri Lanka can’t afford nuclear power. Half-life of nuclear waste is about 10,000 years and has to be store securely and it is expensive.

Sri Lanka rupee closes stronger at 327.40/90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 327.40/90 to the US dollar on Tuesday, from 328.10/30 the previous day, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.60/70 percent from 13.70/14.00 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.00 percent from 13.90/14.10 percent.

A bond maturing on 15.01.2027 closed at 14.00/15 percent from 14.00/14.10 percent.

A bond maturing on 01.07.2028 closed at 14.10/20 percent from 14.20/35 percent.

A bond maturing on 15.05.2030 closed at 14.20/35 percent, from 14.25/45 percent.

A bond maturing on 01.07.2032 closed at 14.10/35 percent, from 14.05/40 percent. (Colombo/Dec5/2023)

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Sri Lanka stocks close down as investor sentiment dips

ECONOMYNEXT – The Colombo Stock Exchange closed down on Tuesday, CSE data showed.

The All Share Price Index was down 0.40 percent, or 43.50 points, at 10,700.09.

The S&P SL20 index was up 0.43 percent, or 13.32 points, at 3,054.41.

Turnover was at 711 million. The capital goods sector contributed 172 million, the food, beverage and tobacco sector contributed 140 million, and banks 113 million of this.

Top positive contributors to the ASPI in the day were John Keells Holdings Plc (up at 193.00), Richard Pieris And Company Plc (up at 19.80), and Nation Lanka Finance Plc, (up at 0.40).

Negative contributors were Commercial Bank of Ceylon Plc (down at 89.70), Sampath Bank Plc (down at 71.00), and Central Finance Company Plc, (down at 106.00). (Colombo/Dec5/2023).

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Sri Lanka plans to reduce number of school grades from 13 to 12

ECONOMYNEXT – The Ministry of Education proposes to reduce the number of school grades from 13 to 12, according to a government information department statement.

“Every child will be given the opportunity to finish school in 17 years through the proposed new education reforms,” education officials were quoted as saying after a discussion on budget allocations.

Under the proposed system, pre-school education will be at the age of 4 years, the primary section between grades 1-5, junior section between grades 6-8, and senior section between grades 9-12.

The General Certificate of Education Ordinary Level Exam (GCE O/L) is proposed to be conducted in grade 10, and the Advanced Level Examination in grade 12.

It has also been decided to reduce the number of mandatory subjects at the GCE O/L Exam from 9 to 7.

Three new subjects, information and communication technology (ICT), technical and professional skills, and religion and values will be made mandatory and included in those 7 subjects. (Colombo/Dec5/2023)

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