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MoUs aimed at strengthening collaboration in areas such as economy, social development, and industry signed between China and Sri Lanka
President Anura Kumara Disanayake, currently on a four-day state visit to China, held an official meeting with Chinese President Xi Jinping on Wednesday afternoon at the Great Hall of the People.
Upon President Disanayake’s arrival at the Great Hall, he was warmly received by President Xi Jinping. The welcoming ceremony was conducted with great honour, including a ceremonial gun salute.
Following the initial cordial discussions between the two leaders, bilateral talks commenced. During the discussions, President Xi Jinping emphasized China’s readiness to work closely with Sri Lanka in ushering in a new era of development.
He also recalled the longstanding relationship between the two countries, highlighting the close friendship that has existed for decades. President Xi reiterated China’s commitment to continuing its cooperation with Sri Lanka in the future.
Upon concluding the official meeting, both sides proceeded to sign several key MoUs aimed at strengthening collaboration in areas such as economy, social development, and industry.
Minister of Foreign Affairs, Foreign Employment, and Tourism Vijitha Herath, Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake, and Director General of the Government Information Department H.S.K.J. Bandara were also part of the delegation accompanying President Disanayake.
(PMD)
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Latest tax hike yields Rs. 7 bn profit windfall for tobacco companies
Deaths caused by alcohol and smoking annually in SL number 15,000 and 20,000 respectively
By Sujeewa Thathsara
The recent increase in cigarette taxes will generate an additional profit of approximately Rs. 7 billion for cigarette companies, according to the Alcohol & Drug Information Centre (ADIC).
While the tax on the most popular cigarette category rose by Rs. 4.51 per stick, the retail price has surged by Rs. 10 per cigarette, enabling companies to pocket significant profits.
ADIC has attributed the profit windfall to the lack of a robust system for efficient tax collection. It has noted that regardless of which government is in power, tobacco and alcohol companies have consistently managed to secure substantial financial gains.
AIDIC has further pointed out that alcohol consumption is responsible for around 15,000 premature deaths annually in Sri Lanka, while smoking accounts for nearly 20,000 fatalities each year.
In 2023, a 20% increase in alcohol taxes led to a reduction in alcohol consumption by 8.3 million litres while boosting government excise revenue from alcohol by Rs. 11.6 billion. Similarly, despite a decline in cigarette sales, excise revenue therefrom rose by Rs. 7.7 billion.
Sampath de Seram, Executive Director of ADIC, has said those figures underscore the impact of taxation on consumption patterns and government revenue.
News
27 out of 73 main reservoirs in the country at spill level
The Department of Irrigation says 27 of the 73 main reservoirs in the country have currently reached spill level. Director of the Water Management Division, Engineer P. S. D. Herath, said that in the Anuradhapura District, seven of the 10 main reservoirs had reached spill level.
In the Ampara District, three main reservoirs have reached spill level, while in the Badulla District, three out of seven reservoirs have also reached this level. Additionally, in the Batticaloa District, three of the four main reservoirs are at spill level, and in the Hambantota District, two of the 10 main reservoirs have reached spill level.
In the Galle District, one of the two main reservoirs is at spill level, and in the Kandy District, two of the three main reservoirs have reached the spill level.
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Sri Lanka expects more Chinese tourists : senior official
COLOMBO , Jan. 14 (Xinhua) — “I have traveled almost all over China, and get impressed by the beauty of the diverse culture, food and friendly people. I also hope that more Chinese tourists will come to my country to experience Sri Lanka’s scenery and culture,” Ruwan Ranasinghe, deputy minister of the Ministry of Foreign Affairs, Foreign Employment and Tourism of Sri Lanka, has told Xinhua.
In 2014, Ranasinghe realised his dream of studying in China. Under the Belt and Road Initiative, Ranasinghe won a Chinese government scholarship and went to Sichuan University to pursue a doctorate in tourism management.
During his stay in China, Ranasinghe and his tutor promoted the establishment of the International Center for Interdisciplinary Culture Heritage & Tourism Research, SCU-UWU. He also witnessed the increasing preference of Chinese tourists for Sri Lanka.
In 2017, China became the second largest source of tourists to Sri Lanka, with more than 260,000 Chinese tourists travelling to Sri Lanka throughout the year. However, with turbulence in Sri Lanka’s domestic situation and the COVID-19 pandemic, the number of Chinese tourists to Sri Lanka has sharply declined for some time.
After the pandemic, Chinese tourists travelling abroad increased significantly. Ranasinghe said that the Sri Lankan government welcomed the return of Chinese holidaymakers. The country hopes to create more convenient conditions for Chinese tourists regarding visas and direct flights, so that Sri Lanka will become one of preferred choices for Chinese tourists.
“Sri Lanka and China have close economic, diplomatic and cultural exchanges,” said Ranasinghe, stressing that high-quality Belt and Road cooperation and major projects between the two countries such as the Colombo Port City and Hambantota Port have provided important impetus for Sri Lanka’s economic recovery and showcased a strong connection between the two countries.
Sri Lanka’s President Anura Kumara Dissanayake pays a state visit to China from Jan. 14 to Jan. 17. Ranasinghe said that Sri Lanka and China are expected to achieve more results in many aspects including trade and investment, cooperation in key projects, and cultural and tourism exchanges, to promote bilateral ties to a new high.
“Sri Lanka also has had frequent and close cultural exchanges with China for many years,” Ranasinghe said. Famous Chinese monk Fa Xian and legendary Chinese navigator Zheng He had visited this island.
Exchanges between the two peoples and cultures can still establish strong bonds to further our bilateral relations, Ranasinghe said. “For example, I studied in a school in Sichuan and knew that Sichuan people like spicy food. Sri Lanka is also a country where its people relish spicy food very much. I welcome more Chinese tourists to visit my country.”
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