News
Gammanpila favours deal with IMF, says most ministers like minded
BY SHIHAR ANEEZ
ECONOMYNEXT – Sri Lanka should enter an deal with the International Monetary Fund, Petroleum Minister Udaya Gammanpila said as forex shortages delayed oil imports and power cuts were imposed as fuel supplies were disrupted.
“I have expressed my view that we should go to the IMF. Now most of the the cabinet ministers are for an IMF deal,” Minister Gammanpila told reporters on Friday. “The final decision has to be made by the Finance Ministry and the Central Bank.”
The CPC has been unable to buy dollars amid forex shortages triggered by liquidity injections made to enforce a 6.5 percent policy rate. Some of the liquidity injections are made to offset central bank dollar sales to the CPC itself.
An IMF program would force a rate hike and a float, which will end the money printing, allowing imports to match inflows.
Meanwhile ships were sometimes stuck at an offshore unloading point off the capital Colombo as banks and the utility scrambled for foreign exchange.
“A ship from Petro China has to keep waiting in sea for 11 days because we did not have dollars,” Gammanpila said. “We had to keep two ships like that.”
Two ships with petrol and diesel are expected to arrive Saturday.
“The Central Bank, People’s Bank, and Bank of Ceylon are trying their best to find us dollars,” Gammanpila explained. “The central bank has agreed to give us 60 million US dollars to clear two shipments coming tomorrow (Saturday). These dollars are now being collected and I hope it could be done by today. (Friday).”
The CPC had also got a 500 million US dollar credit line from India, which would be active from April. Earlier last week India sent a 40,000 litre shipment of oil ahead of the official launch of the credit line.
The Memorandum of Understanding (MoU) relating to the project to provide technological solutions to prevent wild elephants from being hit by trains was signed yesterday (01) afternoon at the President’s Media Centre, under the patronage of Secretary to the President Dr Nandika Sanath Kumanayake.
Coordinated through the “Clean Sri Lanka” programme, the project is being implemented as a public-private partnership, with the Railway Department, the Department of Wildlife Conservation and the Forest Conservation Department working together, with full financial support from People’s Bank.
The system consists of three-beam detection, passive infrared (PIR) sensors, automatic temperature sensors and a tamper alarm system to detect animals weighing more than 20 kilogrammes and unauthorised interference. Signal lights (red/yellow/green) installed on either side of the railway tracks, together with a special screen installed inside the locomotive cab, will alert the driver in advance to the exact location of an elephant.
A demonstration test of the system was successfully conducted at the Pinnawala Elephant Orphanage premises in the presence of the relevant officials, following which a report on the system was prepared.
The system will be implemented as a pilot project from next month at 13 locations where wild elephant accidents are frequent. A newly developed website is also scheduled to be launched to enable the progress of the project to be viewed live.
Additional General Manager of Railways P.D.S.B. Chandrasena, Director General of Wildlife Conservation M.S.L.R.P. Marasinghe, Conservator General of Forests S.C. Palamakuumbura and Chairman of People’s Bank Chandana Guniyangoda signed the relevant MoU. Officials from the Clean Sri Lanka Secretariat, including Presidential Additional Secretary (Clean Sri Lanka) Engineer S.P.C. Sugeeshwara, as well as senior officials from the Railway Department, Department of Wildlife Conservation, Forest Conservation Department and People’s Bank, were also present.
[President’s Media Division]
The Commissioner General of Examinations has announced that the results of the 2026 Grade 5 Scholarship Examination have been released online, and can be viewed on the department’s official website: www.doenets.lk
Prime Minister Dr. Harini Amarasuriya departed Sri Lanka on Monday, 31 August, to undertake an official visit to Bhutan to participate in the Global Conscious Food Systems Summit, scheduled to be held in Bhutan.
During her visit, Prime Minister Dr Amarasuriya participated in the opening plenary of the Summit on 1 September, where she delivered a keynote address under the theme “Rising to the Moment: Igniting Consciousness to Address the Polycrisis.”
The Prime Minister will also engage in discussions with international leaders and representatives on strengthening cooperation towards sustainable food systems, food security and resilient communities.
[Prime Minister’s Media Division]
MoU signed for technology to prevent wild elephant-train collisions
Grade 5 scholarship exam results released
Prime Minister participates in Global Conscious Food Systems Summit in Bhutan
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