News
Fuel crisis drove fish prices high last year – CB
The prevailing economic crisis dealt a huge blow to the country’s fisheries sector resulting in setbacks and decline of production thereby raising the retail prices of fish during last year, says the Central bank in its latest annual report.
The seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka released recently (April 27), shows that the challenges posed by the economic fallout caused the decline of total fish production by 8.9 per cent to 397,230 tonnes in 2022, compared to the previous year.
The drop has been mainly driven by the disruptions caused by domestic fuel shortages on fishing activities and supply chains, particularly in relation to marine fishing activities.
The marine fish production, which accounted for about 71 per cent of the total fish production in 2022, declined by 15.4 per cent, year-on-year, to 280,610 tonnes in 2022.
Retail prices of fish varieties remained broadly elevated in 2022 as a result of increased logistics costs, while upward revisions in kerosene prices in August and November 2022 kept prices at higher levels in the latter part of the year, compared to the corresponding period of 2021.
According to the Ministry of Fisheries, total fish exports contracted by 3.8 per cent, year-on-year, reflecting the subdued performance of the sector, whereas fish imports reported a year-on-year contraction of 25.7 per cent, in volume terms, during the period under review.
Amidst the energy crisis, the fishery sector encountered several setbacks, prompting the Government to take several measures to ensure the continuity of fisheries activities during turbulent times, thereby safeguarding the sector from severe economic shocks and enhancing the performance of the fishing industry. Accordingly, provisioning of fuel for fishery activities was ensured by enabling a manual system, while identifying filling stations in major fisheries regions on a priority basis to distribute limited fuel stocks, the report said.
Prime Minister of India Narendra Modi arrived in the island a short while ago on a three-day state visit.
The Indian Prime Minister was received at the Katunayake International Airport by Sri Lanka’s Minister of Foreign Affairs Vijitha Herath.
PM Modi is accompanied by Minister of External Affairs S. Jaishankar, Indian National Security Advisor Ajit Doval, Indian Foreign Secretary and several senior officials of the Government of India.
The General Manager of Railways has announced that the following special train services will operate during the Sinhala and Tamil New Year period.
1. From Colombo Fort to Badulla – departing Colombo Fort at 1930 hrs on 11th, 12th, 19th and 20th April
2. From Badulla to Colombo Fort – departing Badulla at 1750 hrs on 11th, 12th, 19th and 20th April
3. From Galle to Anuradhapura – departing Galle at 0400 hrs on 12th and 13th April
4. From Anuradhapura to Galle – departing Anuradhapura at 1500 hrs on 12th and 13th April
5. From Colombo Fort to Galle – departing Colombo Fort at 120 hrs on 10th, 11th, 15th and 20th April
6. From Galle to Colombo Fort – departing Galle at 0610 hrs on 11th, 12th, 16th and 21st April
7. From Colombo Fort to Galle – departing Colombo Fort at 1330 hrs on 12th and 13th April
8. From Colombo Fort to Kankasanthurai [Intercity Express] – departing Colombo Fort at 0530 hrs on 11th and 18th April
9. From Kankasanthurai to Colombo Fort [Intercity Express] – departing Kankasanthurai at 1350 hrs on 11th and 18th April
10. From Beliatta to Colombo Fort – departing Beliatta at 0825 hrs on 12th, 13th, 18th, 19th and 20th April
Prime Minister Dr. Harini Amarasuriya visited Hamburg, Germany, focusing on strengthening vocational education and economic partnerships between the two nations. During her visit, she participated in the 102nd East Asia Friendship Dinner, met with German President Frank-Walter Steinmeier, and engaged in high-level discussions on investment, education, and economic reforms.
As a Guest of Honour at the German Asia-Pacific Business Association (OAV) annual gathering, Prime Minister Amarasuriya addressed an audience of business leaders and dignitaries, emphasizing Sri Lanka’s economic recovery and its potential as a growing investment destination. She highlighted the contributions of over 160 German companies in Sri Lanka and invited further collaboration in trade and business.
In her capacity as the Minister of Education, Higher Education, and Vocational Education, the Prime Minister delivered a keynote speech at the ’German-Asian Forum on Vocational Education & Training.’ She acknowledged Germany’s decades-long support in Sri Lanka’s vocational education sector and stressed the importance of modernizing vocational training to align with industry demands. Additionally, she visited ITECH vocational school and German research hubs such as NXP Semiconductors and DESY, discussing collaboration in IT and technology-driven industries.
During her discussions with President Steinmeier, Prime Minister Amarasuriya reiterated Sri Lanka’s commitment to economic stability, social protection, and national unity. She also attended a business roundtable, where she engaged with German companies and government representatives on economic expansion, digitalization, and sustainable development initiatives.
The Prime Minister was accompanied by Sri Lanka’s Ambassador to Germany, Varuni Muthukumarana, and senior embassy officials.
[Prime Minister’s Media Division]
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