News
CEO makes shocking revelation: 50% of factories are closed-
About 50% of factories had been closed and the others were operating at sub optimal levels, Dhammika Samarawickrama, head of the Micro Electric International (Pvt) Ltd said during a TV interview on Wednesday night.
“This is a big problem. A lot of factories have been closed, and the others are working only for about two weeks a month. This is because the demand has dropped and there is no point in running the factory throughout the month, he said.
Samarawickrama said that apart from the obvious economic problem, a large number of unemployed would have an unfathomable social cost.
“I don’t think we have ever had so many unemployed people. So many job losses and these people also have to make ends meet. The government really has to do something urgently,” he said.
The factories were closing down because of high bank interest rates and the skyrocketing cost of production, he said.
“Interest rates are too high. It’s impossible to take a new loan or even pay interest for existing loans. Attempts made by businessmen to get a debt moratorium too have been unsuccessful. On the other hand, the cost of production has doubled or tripled. The electricity bill has been increased by 100 percent. We hear that the tariff will be increased by 30 percent in January. Therefore the costs have gone up and businessmen have increased prices,” he said.
On the other hand, the purchasing power of the people has dropped and there is a marked drop in demand, Samarawickrama said. Samarawickrama said that no businessman wants to incur losses for any reason.
“However, people are not buying at the new prices. So obviously the economy will shrink. The government has to step in and ensure that there is some equilibrium,” he said.
The situation report issued by the Disaster Management Centre at 1800hrs today (5th December) confirms that 607 persons have died due to the adverse weather conditions while the number of missing persons has reduced to 214.
The number of persons affected topped the 2 million mark (2,082,195).
The Sri Lanka Navy (SLN) formally took delivery of the EX- United States Coast Guard Cutter, USCGC DECISIVE, provided by the United States to SLN, at a ceremony held at the United
States Coast Guard Yard in Baltimore on 02 Dec 25. The event was also attended by the Commander of the Navy, Vice Admiral Kanchana Banagoda.
The ship formally joined the SLN fleet on 02 December under the pennant number P 628 and the main mast of the ship will fly the National Flag effective from that date.
Aiming to strengthen and develop partnerships to overcome common challenges in the maritime domain, the U.S. Coast Guard has previously provided 03 ships to SLN and they are currently patrolling island waters under the names of ‘Samudura’ (P 621), ‘Gajabahu’(P 626), and ‘Vijayabahu’ (P 627).
As an extension of partnership ties that bring value to each other’s services, Ex-USCGC DECISIVE was transferred as the fourth ship to be handed to SLN.
Ex-USCGC DECISIVE, a ‘B-Type Reliance Class 210-foot Cutter’, measures 64m in length, and having endurance of 6000 NM at cruising speed. Further, she has been designed for a
crew of 100 and is equipped with weapons and machinery.
The ship which was used by the U.S. Coast Guard has rendered exceptional service during her tenure by curbing illegal activities, including smuggling of narcotics in U.S. waters.
Sri Lanka inherits an Exclusive Economic Zone (EEZ) that is seven times larger than the landmass. In such a backdrop, the Navy is determined to deploy this vessel in wide-ranging
operations that include the conservation of marine resources in the region and the search and rescue of naval and fishing communities in distress. Thereby, the Navy will be able to utilize
this vessel efficiently in the future to achieve the national aspiration, while ensuring safe and secure seas for all economic affairs.
The formal handing over – taking over ceremony was also distinguished by the presence of the Deputy Chief Acquisition Officer and Director of Domain & Integration Services U.S. Coast
Guard, James L. Knight, Deputy Assistant Secretary of War for South and Southeast Asia, Dr. Andrew Byers, the Ambassador of Sri Lanka to the United States, Mahinda Samarasinghe, Commanding Officer designate of P 628, Captain Gayan Wickramasuriya as well as a group of officials from the Embassy of Sri Lanka in United States and the State Department
of the United State
The situation report issued by the Disaster Management Center at 0600hrs today [5th December] confirms that 486 persons have died and another 341 persons are missing after the devastating weather conditions in the past week.
171,778 persons have been displaced and have taken refuge at 1,231 safety centers established by the government.
Death toll rises to 607, missing persons reduce to 214 at 1800hrs today (5)
Sri Lanka Navy takes delivery of Ex-USCGC DECISIVE
Hope holds firm as West Indies drag New Zealand into fifth-day battle
Ireland among countries boycotting Eurovision after Israel allowed to compete
Putin says Russia will take Donbas by force or Ukraine’s troops will withdraw
486 dead, 341 missing, 171,778 displaced as at 0600hrs today [05]
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News6 days agoWeather disasters: Sri Lanka flooded by policy blunders, weak enforcement and environmental crime – Climate Expert
-
Latest News6 days agoLevel I landslide RED warnings issued to the districts of Badulla, Colombo, Gampaha, Kalutara, Kandy, Kegalle, Kurnegala, Natale, Monaragala, Nuwara Eliya and Ratnapura
-
Latest News6 days agoINS VIKRANT deploys helicopters for disaster relief operations
-
News3 days ago
Lunuwila tragedy not caused by those videoing Bell 212: SLAF
-
Latest News6 days agoDepartment of Irrigation issues Critical flood warning to the Kelani river basin
-
Latest News4 days agoLevel III landslide early warnings issued to the districts of Badulla, Kandy, Kegalle, Kurunegala, Matale and Nuwara-Eliya
-
Editorial7 days agoNeeded: Action not rhetoric
-
News7 days agoCountry reels under worst weather in living memory