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Foreign reserves drops to USD 1.5 bn: Eran says govt. unable to refute opp. charges
The opposition alleged in Parliament that foreign reserves had dropped to $ 1.5 billion, which included the gold reserves of $ 300 million. The government did not refute the Opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history, SJB MP Eran Wickramaratne said.
The former State Minister told a news conference at the Opposition Leader’s office in Colombo on Monday (29) that as a result, essential food items and fuel shortages would follow and the country could face power cuts in the future.
The MP also said that manufacturers and businesses would have been able to face the consequences if the government had informed the country well in advance. The oil refinery was also closed for the first time in history.
When the present government came to power, the foreign reserves, which was more than $ 7 billion, had now decreased to 1.5 billion dollars as it was more concerned with giving relief to its cronies than governing the country, he said.
He added that despite reports that the International Monetary Fund (IMF) had provided emergency assistance to 80 countries, including Asian countries such as Pakistan, Nepal, the Maldives and Myanmar, the government had not yet responded to a question raised in parliament a year ago whether it had received a rapid financing instrument from the IMF. Sri Lanka did not receive the assistance because the International Monetary Fund (IMF) had speculated that Sri Lanka would not be able to repay its loans due to the depletion of foreign reserves which needed a comprehensive reform process.
The present government, which had criticized and repealed the fuel price formula implemented by the yahapalana government as a timely solution to the problems faced by the country, now insisted that the fuel formula was good for the country. That proved that they did not have a proper understanding of economic management or governance.
The foreign reserves which were around $ 7 billion in 2019 had been gradually declining every month up to $ 1.5 billion by November 2021 making it inadequate to meet the one month’s import needs.
Even the poorer countries than us in Asia received this Covid-19 emergency aid from the IMF, Sri Lanka was not included in the recipient lists due to the assessment of the International Monetary Fund that Sri Lanka needs major economic reforms in the context of the collapse of its foreign reserves.
According to the Standing Orders of Parliament, when a question is raised, it can be adjourned only twice. However, Wickremaratne warned that the government was still postponing his question ostensibly collecting data and urged that it was the responsibility of the government to tell the people the truth about the dollar shortage and its consequences in importing essential goods to the country and prepare them in advance, realizing that deceiving the people in prevarication of the fact is not a solution to the serious situation facing the country.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
