Sri Lanka News Updates with Discussions

An e-mail message, which was in circulation last week about Alexander the Great of a bygone era had a mischievous Sri Lankan twist to it. As urban legend has it, the Macedonian King had three last wishes on his death bed. First, he wanted the best doctors to carry his coffin demonstrating that in the face of death, even the best of doctors could not cure him.

Second, the wealth he accumulated, including gold and precious stones, should be scattered along the funeral procession proving that material wealth acquired on earth stays on earth. And finally, his hands should be let loose hanging outside the coffin to demonstrate we come to the world empty handed and leave empty handed

Amid allegations of large-scale corruption, waste, mismanagement and price manipulation by the Ceylon Petroleum Corporation (CPC), we heard the blazing news that the European Union is probing alleged price fixing by the biggest oil companies in the world fuel market estimated at US dollars 3.4 trillion a year.
Officials of the European Union said giant oil companies like Royal Dutch Shell and British Petroleum were among those being investigated for the huge price fixing which is believed to have been going on for more than 10 years.

Sri Lanka`s Central Bank last week reduced policy interest rates as much as 50 basis points to spur growth. The Central Bank wants to make cheap money available to people to spend instead of saving, so that it will fuel economic growth. This is not a policy road the country has not travelled earlier. Every time we went on this road, along with the expected economic growth, a visible outflow of money from the country took place, pressurising Sri Lanka`s Balance of Payment position and foreign reserves.

He first stepped onto the football pitch as an unknown winger with a cocky demeanour and a right foot in which Manchester United`s secret weapon was hidden. He will leave it as the most famous sportsman in the world, the richest in the game, and the person who will forever be remembered as the one who embraced the modern media`s influence in football and showed his fellow professionals how to become megastars.
David Beckham`s decision to retire from football should not come as too great a surprise. Having just turned 38 and seen very little game time since signing a short-term contract with Paris Saint-Germain on transfer deadline day in January, the former England captain could easily have stayed on for another year. But he wanted to end with dignity.

poetic view of aviation!
mesmerizing ..

SriLankan Airlines has stopped its unprofitable air taxi operation, just 28 months after it was re-launched amidst much fanfare.
We will not operate our own aircraft, confirmed SriLankan`s Chief Marketing Officer G.T. Jeyaseelan. The company`s costly lease agreement with the Canadian Kenn Borek Air for float planes, lapsed last month, and was not renewed.

The airline is in negotiations to operate a code-share with a private firm, Cinnamon Air, as an alternative. Cinnamon Air has three aircraft, all Cessna 8-seater float planes. Under the agreement, which is likely to be signed within a few days, one of these will sport SriLankan Airlines livery.

Sapugaskanda can refine mostly Iranian crude now hit by sanctions

The Government will seek US $ 2.5 billion or Rs.320 billion through another loan to set up a new oil refinery in Sri Lanka, Petroleum Industries Minister Anura Priyadarshana Yapa declared yesterday. This will help us save monies spent on imported refined fuel, he told the Sunday Times. He said that the only refinery at Sapugaskanda is not suitable to refine some varieties of crude oil. Besides that, its output has dropped since crude procurements from Iran were pruned down after sanctions were imposed by the United States.

The government says 6000 passengers arrived at the Mattala Rajapaksa International Airport since its opening in March this year.
Civil Aviation Minister Priyankara Jayaratne said that being a new airport the government does not expect a heavy flow of incoming air traffic at Mattala immediately. He confirmed that there were no international flights scheduled to arrive at Mattala last Thursday.

6000 Passengers

He said that a special discussion on this was held between his Ministry and airport officials last week.

Communist Party of Sri Lanka General Secretary and Senior Minister D. E. W. Gunasekera yesterday urged state sector trade unions to push for far reaching financial reforms or face the consequences.

In fact, the CP Leader said the state sector employees would be the first to suffer from the catastrophic consequences of the continuing drop in state income as a percentage of the Gross Domestic Product (GDP).

National List MP Gunasekera called for an urgent dialogue among state and private sector trade unions on the state of the national economy. The outspoken politician lashed out at the trade unions for remaining mum and being only interested in their rights heedless of the looming crisis.

Sri Lanka`s leading mobile services provider, Dialog Axiata PLC has posted a net profit of Rs.1.59 billion for the first quarter of FY13 against a net loss of Rs.531 million in the same quarter of the previous year, helped by reduced financial costs and tax refunds, the interim financial accounts released to the Colombo Stock Exchange showed.

Most parts of the country will experience blackouts for hours due to unofficial power shedding, especially due to three thermal plants failing to contribute to the national grid during the peak hours due to the non-availability of fuel, though the Ceylon Petroleum Corporation (CPC) has sufficient stocks.

The Island learns that the Ceylon Electricity Board will have to go for unofficial power as it has not paid the CPC for fuel it had earlier obtained.

Many Sri Lankans have become positive thinkers in the Rajapaksa era. Before people start congratulating themselves on this development, however, there is need to give the matter a little thought.

Let me give you an example. I recently met a young man near the Town Hall junction who used to be a pavement hawker. He sold trinkets, pen torch batteries and CDs on the pavement near Kollupitiya junction. He and fellow hawkers had been driven off by the police several years ago as part of the city beautification campaign. Poor to begin with, he was saddled with an expensive medical problem (his wife`s heart condition) and didn`t have the education or means to find a job (other than being a three wheeler driver, or perhaps a private bus conductor). I imagined his life to be very difficult right now, and inquired about it.

President Mahinda Rajapaksa, as Minister of Finance, and Treasury Secretary Dr. P.B.J. Jayasundera received the most number of `votes` during a Business Times (BT) poll which asked: Who is responsible for deciding the electricity price hike?

Four names were given

a) the President,
b) Power and Energy Minister Pavithra Wanniarachchi,
c) former Power and Energy Minister Patali Champika Ranawaka and
d) Treasury Secretary Dr. P.B Jayasundera,

and respondents asked to make their choice. The results of the email poll showed that 39 per cent of those polled said the President was responsible, 18.8 per cent said Dr Jayasundera should take responsibility while another 12.5 per cent (A+D) held the President and Dr Jayasundera, as jointly accountable. The Power Minister received 7.8 per cent while 11 per cent of the respondents said `all` the four were responsible. The former Power Minister didn`t get a single `vote` except for coming under the category of `all`.

The country`s economy is being handled by four `bureaucrats,` who are `white-collar criminals`, Minister of Technology and Research, Patali Champika Ranawaka, alleged yesterday.

Speaking to Ceylon Today, the minister charged, `These `criminals` have no vision or proper knowledge to handle the country`s economy. They are in their own world. The country should be rescued from these smart `white-collar criminals.` Why should we allow them to decide on the electricity tariff? It should be done according to a systematic formula.` He said the power and energy sector should be given maximum attention and be regarded as the number one priority. Although infrastructure development such as road constructions is important, power and energy sector development is vital for the economy. Unless we take immediate actions to introduce Liquid Natural Gas (LNG) instead of fossil fuel and coal, the power sector will suffer. Also, the need of the hour is to expand and repair the oil refinery, if not, the country may face severe economic crisis in the near future, he pointed out.

Whenever Treasury Secretary Dr. P.B. Jayasundera formulated something he always created a crisis in the country, Minister Wimal Weerawansa charged yesterday.

He was responsible for formulating the new electricity tariffs, he said.

Speaking at a function in Piliyandala Central College Mr. Weerawansa charged that Dr. Jayasundera was someone who created crisis in the country and the new electricity tariff formula which charges less from the rich and more from the poor was formulated by Dr. Jayasundera.