SRI LANKA NEWS (APRIL 2024) Compiled by Victor Melder
Traffic on the Badulla – Randenigala – Kandy main highway came to a standstill last morning when a wild elephant from Randenigala forest reserve stood motionless across the road. The vehicles from either direction were halted at a distance to avoid any possible danger. However the jumbo that kept standing on the road for about half an hour had gone back padded towards the Randenigala reservoir reservation much to the relief of the drivers. (Daily Mirror, 1.4.2024)
Sri Lanka’s Services sector recorded notable net inflows in terms of earnings from tourism, sea transport, air transport, and computer and IT/BPO-related services. The major outflows from the services sector in February 2024 were mainly attributed to air transport, sea transport, and technical, trade-related and other business services. In addition, Computer and IT/BPO-related services were the major contributors to the inflows to the services sector in February 2024. Total services sector inflows (excluding earnings from tourism) were estimated at USD 247 million in February 2024, in comparison to USD 242 million in February 2023.Workers’ remittances continued to record improvements on a year-on-year basis in February 2024 as well, amounting to USD 476 million in February 2024, in comparison to USD 407 million in February 2023 and USD 488 million in January 2024. In February 2024, foreign investment to the Colombo Stock Exchange (CSE) recorded the highest monthly net inflow since February 2022, while there was a net outflow from the government securities market. Foreign investments in the government securities market recorded a net outflow of USD 68 million in February 2024 similar to the trend observed in recent months. Meanwhile, foreign inflows to the CSE, including both primary and secondary market transactions, amounted to USD 42 million in February 2024, which is the highest monthly net inflow since February 2022. This increase in inflow was due to a large inflow of US dollars 46 million to the primary market, mainly in the form of private placements, while the secondary market recorded a net outflow of USD 4 million during the month. Meanwhile, Gross Official Reserves stood at USD 4.5 billion by the end of February 2024 and the Sri Lanka rupee appreciated by 7.6 per cent against the US dollar during the year up to 28 March 2024. The deficit in the merchandise trade account widened to USD 319 million in February 2024 from USD 39 million recorded in February 2023, mainly with a higher increase in imports than the increase in exports. Earnings from merchandise exports increased by 7.9 % to USD 1,059 million in February 2024 compared to US dollars 982 million in February 2023. Expenditure on merchandise imports recorded an increase of 35% to USD 1,378 million in February 2024 compared to a significantly lower base of USD 1,021 million in February 2023. (Daily News, 2.4.2024)
The Sri Lanka rupee appreciated by 7.6% against the US dollar during the year up to March 28, 2024. Meanwhile, reflecting cross-currency movements, the Sri Lanka rupee appreciated against other major currencies, such as the Euro, the Pound Sterling, the Japanese Yen, the Indian rupee, and the Australian dollar during the year up to March 28, 2024. In line with the nominal appreciation, the real effective exchange rate (REER 24) also appreciated during February 2024. However, the index of REER 24 remained well below the threshold of 100 index points, indicating the maintenance of external competitiveness. (Daily News, 2.4.2024)
The export of active carbon earnings such as coconut shell products has been able to achieve an increase of 11.25 percent up to 11.7 million USDs in 2024 February said Mr. Mahinda Amaraweera, Minister of Agriculture and Plantation Industries says the Minister of Agriculture and Plantation Industries, Mr. Mahinda Amaraweera. Coconut growers, farmers and industrialists participated in an event, where coconut saplings as well as granting loans under Kapruka Credit Investment Program. At the same time, an awareness program was also implemented under the theme of ‘Protecting the Kapruka like the children’ by focusing on school students.Accordingly, compared to the month of February 2023, the export income of coconut and related products has grown by 25.17 percent in the month of February 2024. By exporting coconut water, 3439 metric tons have been exported in the month of February 2024 and an income of 894 million rupees has been earned. Export of coconut milk has earned an income of 2971 million rupees in the month of February this year. Also, in terms of active carbon earnings, the export of coconut shell products has been able to achieve an increase of 11.25 percent up to 11.7 million USDs in 2024. Also, it has been predicted that this year we will be able to reach the goal of earning one billion USDs in income from export coconut and its related products for the first time. However, in order to get more income from coconuts and related products, we can avoid wasting coconuts. Our country is the first country in the world that wastes coconuts. I advise the Coconut Cultivation Board as well as the Coconut Development Authority to take steps to provide people with new technical knowledge on how to reduce wastage in using coconut for food. It is also predicted that we will be able to reach 3000 million coconuts this year. In the past, our main export crops were tea, coconut and rubber. Later, this position has taken over the supplies services such as house maids. Now again, tea, coconut and rubber stand out as the most profitable plantation crops in the world. (Daily News, 2.4.2024)
The order proposing to increase the Value Added Tax (VAT) percentage from 15% to 18% was passed in Parliament with a majority of 36 votes. During the Parliamentary session, a total of 55 Members of Parliament voted in favour of the VAT amendment, while 19 MPs voted against it, showcasing a clear majority in support of the proposal. The decision comes after the issuance of a Gazette notification for the VAT amendment in January of this year, signaling the Government’s intention to revise the tax rate to address fiscal challenges and boosting revenue streams.
Proponents of the VAT hike argue that it is essential for meeting budgetary requirements and ensuring sustainable economic growth, especially amidst the backdrop of heightened fiscal pressures exacerbated by the ongoing economic crisis. On the other hand, critics express concerns about the potential ramifications of higher VAT rates on the cost-of-living and purchasing power, particularly for low and middle-income households already grappling with economic strains. (Financial Times, 3.4.2024)
Visa, the global leader in digital payments, this week announced that Visa debit card spends saw a significant increase of over 35% in the past year, indicating healthy growth of digital payments in Sri Lanka. This increase is buoyed by a 30%+ increase in face-to-face spends and over 40% increase in e-commerce spends. As the Tamil and Sinhala New Year celebrations commence in the country, retail transactions are picking up with more active shoppers during the festive period. Consumers are increasingly paying by debit card, opting for safer, simpler, and more convenient transactions. Visa Country Manager – Sri Lanka and Maldives, Avanthi Colombage, said: “We are excited to see the jump in debit card usage by consumers in Sri Lanka lately. While this is skewed towards in-store spends, e-commerce growth too has been heartening, and we expect this momentum to continue during the Sinhala and Tamil New Year. We also saw a robust over 35% growth in debit spends in 2023 over 2022, in the year-ending holiday season. This festive season too, we believe cardholders will gravitate towards secure and faster ways to pay like tapping or dipping their cards. We have also been working closely with our issuing and acquiring partners to boost card usage and its acceptance so that consumers can use their Visa cards anytime anywhere – conveniently, easily, and safely.” Recent data by Visa Consulting and Analytics shows that Visa debit cards have largely been used at face-to-face or ‘in-store’ channels like merchant outlets and shops. The proportion of in-store spend of the overall domestic debit card usage is 7 times that of what is spent on e-commerce. The top in-store categories where consumers shopped have been Food and Grocery, Apparel, Fuel, and Restaurants. E-commerce spending was mostly for telecom and utility services, education, government payments, and insurance. “This indicates the rising usage of debit cards, one of the most familiar, simple, and quick ways to pay digitally. Geographically, we saw urban centres such as Colombo and Gampaha recording over 50% of in-store transactions. We are working with partners to create regional roadshows beyond the Western Province to increase awareness of debit cards among consumers and merchants,” Colombage added. This increase in debit card usage among Sri Lankans is seen in many developing countries as more consumers are opting for a seamless and secure payment experience with cards vis-à-vis using cash. With the promising growth in tourism as well, digital transactions by tourists also played an important role in increased spending. Compared to 2022, Visa data shows that the share of tourism in total cross-border spends during the holiday season grew by 15 percentage points. In terms of volume and value both, tourism-related spends have increased by over 100% on Visa credentials,” confirms Colombage. Visa further shared that over 50% of tourism-related spends in Sri Lanka came from the USA, India, UK, UAE, and Australia. Tourists have spent largely on lodging and retail goods, which contributed to over 60% of tourism spending during the holiday season. “We are committed towards raising awareness of the benefits of using debit cards for safety and ease of use,” said Colombage. Visa has tied up with its clients and conducted awareness initiatives for merchants on debit cards, as well as promotional activities, cashback offers, and discounts for Visa cardholders. It is also focusing on increasing the acceptance of Visa cards and digital transactions across Sri Lanka. (Financial Times, 5.4.2024)
Around 75,000 Sri Lankans have left for overseas jobs during the first three months of 2024, the Sri Lanka Bureau of Foreign Employment (SLBFE) says.SLBFE said yesterday (04) that 74,499 Sri Lankan workers had left for foreign employment, and 46 percent of them were women.There has been a slight drop in comparison to the corresponding period in 2023, when 76,025 Sri Lankans went overseas for employment.SLBFE said Sri Lankans prefered jobs in countries like South Korea, Israel and Japan. About 17,793 of foreign employment seekers had left for Kuwait, 2,374 to South Korea, 2,114 to Israel, 1,899 to Romania, and 1,947 to Japan during the first quarter of 2024, SLBFE said. Sri Lankan migrant workers had remitted USD 963.8 million in the first two months of 2024, SLBFE said. According to the Central Bank data remittances from foreign workers were the top foreign exchange earner in the first two months of 2024. The other top foreign exchange earners were garments (803.4 million dollars), tourism (687.5 million dollars), tea (229.9 million dollars), petroleum products exports (177.3 million dollars), rubber product exports (166.4 million dollars), and IT and ITES exports (102 million dollars). (Daily Island, 5.4.2024)
Rajith Keerthy Tennakoon Director General of Community Affairs at the President’s Office delivering a special media statement today (05) stated that between the assumption of office by President Ranil Wickremesinghe and February 2024, the Government of Sri Lanka has settled a total of US$ 1909.7 million in foreign debt and interest payments. He also highlighted that from July 21, 2022, to February 2024, the government has disbursed $1338.8 million in multilateral loans and interest, and that there were no outstanding arrears in loan instalments or interest payments up to February 2024. He said that according to the Department of External Resources, payments totaling US$ 760.1 million have been made to the Asian Development Bank and US$ 7.0 million to the Asian Infrastructure Investment Bank. Additionally, payments of US$ 22.3 million have been made to the European Investment Bank, US$ 17.9 million to the International Fund for Agricultural Development, and US$ 9.8 million to the EFF 23-26 program of the International Monetary Fund. Furthermore, US$ 1.7 million has been disbursed to the Nordic Development Fund, US$ 29.9 million to the OPEC Fund for International Development, and US$ 489.9 million to the World Bank. Consequently, the government’s total payments for loans and interest amount to US$ 1,338.8 million. It is noteworthy that the Asian Development Bank, the International Monetary Fund, and the World Bank have extended further financial support to the government due to its commendable track record in debt repayment. During this period, negotiations are underway with relevant states and institutions to finalize agreements regarding the repayment of bilateral loans and interest, which currently stand at US$ 571.0 million. Additionally, preliminary agreements have been reached concerning debt and interest payments, involving members of the Paris Club, with outstanding interest to be settled by the end of February 2024 amounting to $450.7 million. Tennakoon said that it is worth noting that several countries, including Japan, have provisionally agreed to resume numerous projects halted in the past . Moreover, bilateral loan transactions have been conducted with nearly 25 other financial institutions, such as Canada, China, France, Germany, India, Japan, South Korea, Kuwait, Pakistan, Russia, Spain, the United States, China Development Bank, Sino-Hungarian Bank, Indian Exim Bank, and American Exim Bank.These loans and interest payments have been denominated in US Dollars, Euros, Japanese Yen, and Canadian Dollars. The Central Bank of Sri Lanka has bolstered its dollar reserves in foreign currencies to facilitate local payments to institutions like People’s Bank, Bank of Ceylon, and Hatton National Bank after settling local debt and interest obligations. Furthermore, following the repayment of multilateral, bilateral, and local dollar loans, the country’s cash reserves have surged to over $4.9 billion ($4950 million). The government is actively engaged in restructuring business loans and interest totalling $4,439.2 million, acquired at high-interest rates. It is important to note that payment of these funds will be deferred until negotiations regarding debt restructuring are finalized. He reiterated that the ongoing discussion regarding the special interest rate offered for fixed deposits of senior citizens warrants attention. (Daily Island, 5.4.2024)
Further underlining the growth of the tourism sector, Sri Lanka’s tourism revenue passed the USD 1 billion mark (USD 1,025.9 mn) after the first three months ending March 31, 2024, showing a 103% growth against the corresponding period in 2023. Sri Lanka also recorded 635, 784 arrivals for the first three months of 2024 also showing an 89% increase as against 2023. From January to March 2023 total earnings from tourism receipts were USD 503 million. Meanwhile, Workers’ Remittances also showed a sharp upward trend with the country recording USD 1.536 billion in revenue. During the year up to April 5, 2024, the Sri Lanka rupee appreciated against the USD by 8%. Given the cross-currency exchange rate movements, the Sri Lanka rupee appreciated against the Japanese yen by 15.5%, the pound sterling by 9.%, the Euro by 10.5% and the Indian rupee by 8.5% during this period. The gross official reserves were provisionally estimated at US dollars 4,951 mn as of the end of March 2024. This includes proceeds from the PBOC swap arrangement, which is subject to conditionalities on usability. (Daily News, 8.4.2024)
Foreign currency buffer reaches US$ 4.95 bn in March . Gross official reserves reach highest level in more than three years . Gross official reserve assets of Central Bank reached the highest levels in more than three years in March as authorities managed to rebuild the country’s foreign currency buffer to US$ 4,951 million, up from US$ 4,520 million a month ago. This gradual recoup was possible mainly from the dual inflows from both remittances and tourism, both of which have reached pre-pandemic levels in a largely normalised economy. Sri Lanka’s economy was beset by repeated crises for five years from Easter attacks in 2019 through the two year-year long pandemic to the economic crisis triggered by the shortage of foreign currency in 2022 and 2023.
The languishing inflows from remittances and the near decimation of the tourism trade caused the country to run out of its foreign currency reserves early in March 2022, triggering the worst currency crisis precipitated into the highest inflationary spiral and total chaos in society and politics. Now that the two key inflows which together churn out about US$ 12.5 billion or more in a typical year has been restored and supported by the breathing space received from the suspending of most foreign currency debt, officials are in a better position to rebuild its foreign currency reserves from a level which was at a near zero levels back in 2022 March. The last time the country had exceeded the current level of reserves was back in December 2020 (at US$ 5,665.1 million) when it was in the middle of a pandemic.These stronger inflows also helped officials to collect US$ 245.3 million and US$ 239.5 million on a net basis in January and February respectively from the banking sector to beef up its reserves. This also helped the Central Bank to contain the appreciation of the rupee seen thus far during this year to 8.0 percent. In a joint statement, exporters last week expressed their serious concerns about the rupee appreciation, as they face the risk of losing competitiveness in the global stage. Sri Lankan rupee has gained 20 percent of its value from the end of 2022 through last week to US$ 299.61 as the continued strength in foreign inflows and the debt standstill in place since April 2022 helped to mostly to fortify the external sector. (Daily Mirror, 8.4.2024)
January – March remittances total US$ 1.53 bn . Sri Lankans working abroad typically send the highest amount of money back home in March, ahead of the Sinhala and Tamil New Year, and this time it has reached US$ 572.4 million. This was higher from both US$ 568.3 million a year ago and US$ 476.2 million a month earlier, data from Central Bank showed. Remittances followed by tourism inflows together account for roughly US$ 12.5 billion in a typical year and such inflows more than offset the deficit in the trade account of the Balance of Payment. Remittances which grew stronger during initial days of the pandemic due to the near absence of the informal channels started to weaken from the middle of 2021 due to the higher premiums offered by the informal money exchangers such as Undiyal and Hawala. Disinformation campaigns carried out by certain factions with vested interests too partly helped to slow the key inflow to the country as migrant Sri Lankans were made to believe that the political authority at the time was misappropriating the dollars they sent back home. Sri Lanka could restore its former level of remittances which fell due to the sharp devaluation of the rupee back in March 2022. The record high number of people who left the country for foreign employment after two years of pandemic has in fact reversed migrant flows. With March inflows, in the first three months Sri Lanka has received US$ 1,536.1 million from remittances, which was an increase of 8.7 percent from the same period in 2023. Sri Lanka has always depended on the heavy inflows from remittances to partly close its wide trade deficit and also to de-risk its external sector broadly. But, the ability to do so weakened in the lead up to the 2022 economic crisis as remittances could not keep up with their annual average while tourism, the third largest foreign inflow, nearly decimated. Sri Lanka then on the advice of the International Monetary Fund (IMF), raised both interest rates and taxes to fix the budget as they said when you fix the budget you can fix the Balance of Payment. (Daily Mirror, 8.4.2024)
Wildlife and Forest Resources Conservation Minister Pavithradevi Wanniarachchi has directed the authorities concerned to promptly address the spread of the invasive plant species ‘Koenigia Mollis’ in the tropical rainforest surrounding the Sri Pada (Adam’s Peak) mountain range. She instructed officials to implement measures focused on biodiversity conservation and to employ scientific and technical methods for the removal of the invasive plant. The invasive plant has been found to have spread along the roads leading to Sri Pada, near the stalls, shops and toilets. In areas where the plant has spread, native plants have been completely overwhelmed and destroyed. Researchers at Sabaragamuwa University have discovered that a particular plant, typically found growing 6 to 8 feet tall near mountainous areas, gradually weakens the stability of its root system. This weakening contributes to an increased risk of landslides occurring at the mountain peaks. It has also been confirmed that this invasive plant has a serious effect on biodiversity. This plant first appeared in Myanmar and the Eastern Himalayas. It has now spread to Nepal and China (Daily Mirror, 9.4.2024).
The Wildlife Conservation Department has reported that the national parks have earned over Rs. 2,000 million between January and March this year, from both local and foreign tourists. In the past three months, more than 200,000 foreign tourists have visited these national parks, with Yala National Park being the most popular with over 100,000 visitors. Other national parks such as Wasgamuwa, Kumana, Wilpattuwa, Bundala, Minneriya, Udawalawa, and Kaudulla have also seen a significant number of foreign tourists. The Director General of the department, Chandana Suriyabandara said that the income earned in these three months will be a record income. He also expressed confidence that the income earned by the national parks will increase this year compared to last year. (Daily News, 12.4.2024)
The World Bank has found that more than a quarter of Sri Lanka’s population is living in poverty, according to its latest publication. Titled ‘World Bank Update: Bridges to Recovery’ released last week (April 2) shows that poverty has increased over the past four years—from 11 percent in 2019 to almost 26 percent in 2024 in Sri Lanka. The report briefly discusses how the unprecedented economic crisis that engulfed the country in 2022 has impacted the masses. It however, insists that the savage austerity program dictated by the International Monetary Fund (IMF) and being implemented by the Wickremesinghe government is necessary to achieve “economic recovery.” The World Bank report notes: “Households have been impoverished by a fall in their purchasing power due to high inflation, losses in wages, income and employment, and a drop in remittances.” Approximately 60 percent of Sri Lankan households, it states, have decreased incomes, with many facing increased food insecurity, malnutrition and stunted growth. The persistence of this wide-scale social devastation and misery, however, is a direct result of the IMF’s brutal social attacks. The report indicates that labour market trends in Sri Lanka have been affected by widespread closures of micro-, small- and medium-enterprises. In the third quarter of 2023, the labour force participation rate in the urban sector dropped to 45.2 percent, down from 52.3 percent in 2019. Youth unemployment, especially young adults (aged from 25–29), rose to 17.7 percent between the second and third quarters of 2023. According to the report: “The implementation of new revenue measures increased estimated revenue as a share of GDP [Gross Domestic Product] from 8.4 percent in 2022 to 11 percent in 2023.”As the World Bank report states: “17.5 percent of households indicated that they limited their education expenses (including on stationery and uniforms) to deal with rising costs, and most households have changed their health treatment procedures since March 2022 due to a lack of funds.” While Sri Lanka recorded a minus 7.3 percent GDP growth rate in 2022, the World Bank said this had been reduced to minus 2.3 percent in 2023 and claimed this was “expected to turn positive” in 2024. The “improvement,” however, still means that there will be no real growth this year. On April 2, World Bank Country Director for the Maldives, Nepal and Sri Lanka Faris Hadad-Zervos declared that the Sri Lankan economy “is on the road to recovery.” At the same time, however, he claimed that “sustained efforts to mitigate the impact of the economic crisis on the poor and vulnerable” required the government to maintain its social attacks on the working masses. A two-pronged strategy to “maintain reforms that contribute to macroeconomic stability” and “accelerate reforms to stimulate private investment and capital inflows,” he said, must be continued. These so-called “economic reforms” mean an ever greater assault on the social position of working people. (Daily Island, 9.4.2024)
The Trade, Commerce, and Food Security Ministry is to issue price ranges on essential items to curb excessive profits by middlemen in the retail market. After a meeting held at the ministry, Minister Nalin Fernando said that the increase in commodity prices was a result of the economic crisis and inflation. In 2022, Sri Lanka faced the challenge of being one of the countries with the highest commodity prices globally, primarily due to soaring inflation. “In 2019, a kilogram of wheat flour was priced at Rs. 85. By 2022, this price had escalated to Rs. 485, leading to a loaf of bread being sold for approximately Rs. 195 to Rs. 200. Similarly, in 2019, a kilogram of dhal was sold for around Rs. 120. By 2022, this price had surged to Rs. 585 but has since dropped to Rs. 295,” the minister said. The depreciation of the dollar exchange rate, which initially contributed to the rise in commodity prices, has now stabilized. The government’s efforts to ensure an adequate supply of consumer goods have proven successful. Minister Fernando highlighted that consumers can now purchase eggs within the price range of Rs. 35 to Rs. 40, reflecting the government’s commitment to stabilizing prices and addressing shortages. (Daily Mirror, 10.4.2024)
The monthly expenses of a person in Sri Lanka decreased in February compared to January, the Census and Statistics Department said. They said the minimum amount required for a person in this country to meet their basic needs is Rs. 16,975 per month, and a person living in the Colombo district needs Rs. 18,308 to meet the minimum basic needs. The Department revealed this while releasing the Official Poverty Line Chart for the month of February 2024. According to the National Consumer Price Index released for this month, the main reason for the reduction of the poverty line was that inflation in the country has decreased compared to the previous month.The Department further mentioned that the lowest monthly expenditure is Rs. 16,231 in the Moneragala district. (Daily Mirror, 17.4.2024)
A review of data published by Sri Lanka Customs analyzed by Siyaka Research confirms that the country shipped 62 Mnkg during the period January – March 2024, up 15% on last year’s figure of 54 Mnkg. Due to steady strengthening of the Sri Lankan Rupee against US$ YoY and lower auction prices, Rupee earnings show only a nominal change with an increase from Rs. 36 bln to Rs. 38 bln. In USD however, the approximate value is $ 354 Mn is 13% more on the 2023 figure of $ 314 Mn. This year’s Dollar earnings are the highest since 2018; however the country exported 68.8 Mnkg in Q1 of that year compared with 62.3 Mnkg in 2024. A review of major destinations has Iraq topping the list with a quantity of 8.4 Mnkg amounting to 14% of all shipments in 2024. The UAE follows with 7 Mnkg up 56% on last year. Shipments to Russia have grown 14% YoY 6.4 Mnkg. Turkey follows but quantities have declined a sharp 40% to 4 Mnkg. Iran has increased 166% YoY from 1.3 Mnkg to 3.4 Mnkg this year. Saudi Arabia has increased 39% YoY 2.5 Mnkg and is followed by China up 8% to 2.4 Mnkg.(Daily Mirror, 19.4.2024)
The Government has hiked the standard tourist visa fee by over 100%, coupled with the shift to a global processing company, which has raised eyebrows among industry stakeholders. The announcement came on Tuesday, with the Immigration and Emigration Department unveiling the new visa procedures and the launch of an online visa issuing system which came live yesterday. However, the move to a global processing company has resulted in higher visa fees, drawing mixed reactions from industry players. Under the new system, the standard tourist visa fee, valid for 180 days with each stay restricted to 60 days for non-SAARC countries, has increased to $ 75 with additional charges, including a $ 18.5 service fee and a $ 7.27 convenience fee, bringing the total individual visa fee to $ 100.77. SAARC country tourists also increased from $ 20 to $ 35 now for the The Government’s decision to increase visa fees has sparked concerns among industry stakeholders regarding its potential impact on tourist arrivals and Sri Lanka’s competitiveness as a tourist destination. Despite signs of improvement in the tourism industry in 2024, with targets set at 2.3 million arrivals and over $ 4 billion in income, the increase in visa fees could pose challenges to the sector’s stability and growth.During the first 15 days of April, Sri Lanka welcomed a total of 82,531 visitors, bringing the cumulative figure to 718,315. India, the UK, and Russia emerged as the top source markets during this period. (Daily Financial Times, 19.4.2024)
Sri Lanka has come to the forefront among the countries in the world suffering from asthma, Sri Lanka Respiratory Disease Specialists’ Association President Dr. Neranjan Dissanayake said. He said between 10% and 15% of the country’s population suffers from asthma, and it affects children, young adults and the elderly with great mental and physical discomfort. If asthma is not controlled properly, it can even lead to death. About 95% of asthma patients can be controlled with simple, very cost-effective, high-performance medications, Dr. Dissanayake said. But, unfortunately, around 500,000 people worldwide die from asthma every year, he said. This year, Asthma Day falls on May 7, and an awareness program has beenorganized by the Association of Respiratory Disease Specialists, Dr. Dissanayake said. (Daily Mirror, 26.4.2024)
The Cabinet of Ministers approved entrusting the management of the Mattala Rajapaksha International Airport (MRIA) to Shaurya Aeronautics Ltd., of India and Airports of Regions Management Company of Russia or its affiliated ventures for a period of 30 years. The move follows the recommendations put forth by the Cabinet-appointed negotiation committee. On 9 January 2023, the Cabinet initially approved to call Expression of Interest (EoIs) from parties to utilise the facilities of the airport. “Subsequently, a total of institutions submitted their proposals and two companies were selected,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday. The proposal to this effect presented by Ports, Shipping and Aviation Minister Nimal Siripala De Silva received unanimous approval from the Cabinet of Ministers at its meeting on Thursday. (Daily Mirror, 27.4.2024)
