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Wednesday December 6th, 2023

Sri Lanka scraps ‘semi-luxury’ buses on Colombo-Kataragama run

CROWDED: An overloaded bus in a suburb of Colombo, leaning sideways with passengers clinging to foot boards.

ECONOMYNEXT – Sri Lanka has decided to scrap buses under semi luxury category in Kataragama- Colombo bus route from Wednesday midnight onwards, Minister of Transportation Bandula Gunawardana said.

“Before the crisis there were categories of buses such as normal, semi luxury and luxury, with different bus fares,” Gunewardana said.

“From today onwards there will be no such buses in the Kataragama – Colombo route via Galle road.”

Passengers had complained that buses without air-conditioning, built on hard sprung truck chassis with uncomfortable seats were charging higher fees under semi-luxury category by simply putting curtains.

Owners of 28 buses in the route have agreed to re categorize the buses as ‘normal’, and reduce the price from 1,541 rupees to 1,117 rupees.

The National Transport Commission was looking into whether fares can be cut after a recent reduction in diesel prices. Train fares however will not be cut.

“The train fare will not be revised, because the Department has already made a massive operating loss,” Gunawardana said.

“With the recent price revisions, we are barely managing the fuel cost and all salaries as well as overtime are being paid using the taxes.” (Colombo/ Jan05/2023)

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  1. sacre blieu says:

    About busses, and even three-wheelers, most of them have lost the properties of their shock absorbers and have become hard and uncomfortable on ripply roads. All normal buses carrying passengers, are built on chassis meant to carry or transport cargo and are hard-sprung. The officers responsible who passed such buses for use should be held responsible and charged. Even the seat arrangements/positioning have been altered and tall people find it difficult to sit comfortably.

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  1. sacre blieu says:

    About busses, and even three-wheelers, most of them have lost the properties of their shock absorbers and have become hard and uncomfortable on ripply roads. All normal buses carrying passengers, are built on chassis meant to carry or transport cargo and are hard-sprung. The officers responsible who passed such buses for use should be held responsible and charged. Even the seat arrangements/positioning have been altered and tall people find it difficult to sit comfortably.

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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