News
USD 500 mn credit line to procure petroleum products: Govt. wants India to double facility
‘Protests will ruin efforts to attract tourists’
By Shamindra Ferdinando
Sri Lanka is trying to have the USD 500 mn Indian Credit Line for fuel increased to USD 1 bn. Janaka Ratnayaka, Chairman of the five-member Public Utilities Commission of Sri Lanka (PUCSL) yesterday told The Island that Sri Lanka was seeking to have the Indian credit line doubled in line with overall efforts to tackle the worsening crises.
Emphasising the importance of doubling the Indian credit line, Ratnayake revealed that another combination of 200 MT of fuel would be delivered within a short period, also under USD 500 million credit line.
Declaring that funds had been made available for what he called anchored diesel shipment, Ratnayake said that sufficient stocks were now available to provide uninterrupted electricity supply for Sinhala and Tamil New Year on 13, 14 and Good Friday (April 15) as well.
Since the finalisation of the USD 500 mn credit line on Feb 02, 2022, for the purchase of petroleum products, India has delivered four shipments on 16, 20, and 23 March, and 02 April.
Eldos Mathew Punnoose, Head – Press, Information and Development Cooperation – since the operation began, 200,000 mt of fuel had been delivered, including a consignment of 40,000 MT by Indian Oil Corporation, outside the line of credit facility, in February 2022.
Treasury Secretary S.R. Attygalle, who signed for the USD 500 mn credit line on behalf of Sri Lanka, recently resigned after Basil Rajapaksa had lost the finance portfolio. Sri Lanka reached agreement with the Export and Import Bank of India in this regard.
Punnoose said in addition to the USD 500 mn credit line in response to a separate and urgent request from Sri Lanka, New Delhi had swiftly finalised a credit facility of USD 1 billion for the supply of essential items, including food and medicines. The first shipments of rice, under this facility, would be here soon, the official said.
Earlier in January this year, India provided financial assistance to Sri Lanka that included a credit swap of US$ 400 million and deferment of an Asian Clearing Union payment of over USD 515 million. In cumulative terms, Indian support to the people of Sri Lanka, in the first quarter of 2022, is in excess of US$ 2.5 billion, the Indian spokesperson here said.
Referring to travel advisories issued by several countries, PUCSL Chairman Ratnayake emphasised that large scale protests would have a catastrophic impact on efforts to attract tourists. Pointing out those violent incidents outside President Gotabaya Rajapaksa’s private residence at Pangiriwatte Road, Mirihana, on March 31, and continuing countrywide protests, including the ongoing campaign opposite the Presidential Secretariat, would undermine efforts to stabilise the situation.
Ratnayake said that the delay on the part of all those concerned at every level to take tangible measures to address issues at hand could increase pressure on the national economy. Responding to queries, Ratnayake said that early stabilisation of the national economy couldn’t be achieved if protests undermined political stability.
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
