Economy

Sri Lanka’s Customs says no notice on return of plastic waste from Malaysia

Beijing will lower import tariffs on more than 850 products including frozen pork from next month.

Tuesday January 21, 2020 4:05 pm

ECONOMYNEXT- Sri Lanka has not received notice from Malaysian authorities about plastic waste being sent back to the island, a top Customs official said.

“We have not got any notice from the Malaysian Embassy regarding the rubbish containers,” Sri Lanka Customs Spokesperson Sunil Jayarathna told EconomyNext.

“If there is something we will get a diplomatic notice from the embassy,” he said.

Multiple international news outlets reported that the Malaysian government had sent back 150 containers of plastic waste to 13 countries, including Sri Lanka since the third quarter of 2019.

“If people want to see us as the rubbish dump of the world, you dream on,” Malaysian Environment Minister Yeo Bee Yin was quoted as saying .

“Our position is very firm. We just want to send back (the waste) and we just want to give a message that Malaysia is not the dumping site of the world.”

Of the 150 containers, 43 were returned to France, 42 to the UK, 17 to the US, 11 to Canada, 10 to Spain and the rest to Hong Kong, Japan, Singapore, Portugal, China, Bangladesh, Sri Lanka and Lithuania, Malaysia’s Environment Ministry said.

In 2017, China after 24 years of importing waste, banned the import of 24 types of solid waste including plastic and wastepaper materials.

After the China imposed the ban, major waste exporter countries such as Britain, United States, France and Germany rerouted their waste piles to other Southeast Asia countries such as Malaysia, Thailand, Vietnam, Philippines and Indonesia.

Sri Lanka in early last year re-exported 111 containers abandoned at the port containing hazardous mortuary and clinical waste illegally imported to the country from Britain under the cover of metal recycling. (Colombo/Jan21/2020)

FILED UNDER: Malaysia,Sri Lanka,waste imports

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Economy

Sri Lanka exports down in April, trade deficit up from March, rupee stronger

Thursday June 1, 2023 7:05 am

ECONOMYNEXT – Sri Lanka’s exports fell 12.6 percent from a year ago to 849 million US dollars in April 2023, amid weaker external demand, while imports were down 15.8 percent to 1,431 million Us dollars, central bank data showed.

Exports also fell 1,037 million dollars in March 2023, amid seasonal effects.

The trade deficit expanded to 583 million US dollars in April from 412 million US dollars in March 2023. Imports were at 1431 million US dollars in April from 1,450 million dollars in March.

Imports can pick as tourism, worker remittances and net inflows to government go up.

The rupee continued to appreciate.

“Exchange rate showed a notable appreciation during April 2023 with the continued improvement in liquidity in the domestic foreign exchange market, the discontinuation of the daily guidance on exchange rates,” the central bank said.

Up to April exports were down 9 percent to 3.8 billion rupees and imports were down 28 percent to 5.2 billion rupees and the trade deficit was 1.4 billion rupees.

Investment goods imports were down in April amid a contraction in credit.

“Almost all types of goods listed under the three main investment good categories, namely machinery and equipment, building material and transport equipment, recorded a decline,” the central bank said.

Economy

Sri Lanka President discusses debt restructure, program progress with IMF

Thursday June 1, 2023 6:14 am

ECONOMYNEXT – Sri Lanka’s President Ranil Wickremesinghe has discussed progress of International Monetary Fund program and debt restructuring during a visit of Deputy Managing Director Kenji Okamura, statement said.

“The discussion primarily focused on the progress of the IMF program between Sri Lanka and the IMF,” a statement from President’s office said.

“Attention was also paid to the on-going debt restructuring negotiations.”

State Minister of Finance Shehan Semasinghe, Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayake was also in the meeting.

Secretary of the Ministry of Finance Mahinda Siriwardena, Central Bank Governor Nandalal Weerasinghe, Deputy Director of the International Monetary Fund Anne Marie Gulde, and Resident Representative IMF in Sri Lanka Sarwat Jahan, attended this event. (Colombo/June01/2023)

Energy

Sri Lanka cuts petrol to Rs318 a litre, kerosene to Rs245

Wednesday May 31, 2023 10:29 pm

ECONOMYNEXT – Sri Lanka has cut petrol 92-Octane by 15 rupees to 318 rupees a litre and kerosene by 50 rupees to 245 rupees a litre from midnight May 31, the Ministry of Energy said.

Petrol 95 Octane will be raised by 20 rupees to 385 rupees, and Lanka Super Diesel 4 Star Euro 4 will be raised by 10 rupees to 340 rupees a litre.

Lanka Industrial Kerosene will be cut by 60 rupees a litre to 270 rupees.

Kerosene which is similar to jet fuel is usually the most expensive fuel in international markets followed by diesel and petrol is usually the cheapest.

Kerosene which is substantially cheaper than diesel is also used by buses to cut costs. (Colombo/May31/2023)