Govt. to recruit more graduates ‘to strengthen public sector’
Leader of the House, Education Minister Dinesh Gunawardena, on Monday, said that the present government had decided to recruit more graduates to strengthen the public sector by increasing its workforce. Minister Gunawardena, who is also the Chairman of the Cabinet-Sub Committee appointed to look into the matters pertaining to the recently recruited 58,000 graduates to the public sector institutes, said as per the government’s policy statement, the government had decided to increase the number of recruits.
Minister Gunawardena said that the yahapalana government’s policy was to weaken the government sector and strengthen the private sector. “We have always believed in strengthening the public sector and the ongoing project of recruiting graduates is one step forward,” the Minister said during a Cabinet-sub-committee meeting on Monday to review the progress of absorbing the trainee graduates into the permanent cadre. The meeting was held at the Ministry of Public Service, Provincial Councils and Local Government.
The Minister said 58,000 graduate trainees had been recruited to state institutions. They are currently undergoing training”. He said that the government had planned to place 18,000 graduates out of the 53,000 as teachers under the Ministry of Education. The Cabinet of Ministers, in February, approved the proposal made by President Gotabaya Rajapaksa to recruit 50,000 unemployed graduates for the state sector. Later, the number was increased to 60,000.
The Minister said Cabinet approval had been granted for issuing trainee appointment letters to the graduates and diploma holders recruited for the training to be made by the relevant District Secretary or Government Agent under the supervision of the Secretary to the Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government and also to provide training to those trainees by attaching them to recognised institutions. On completing their training period, they are to be attached to the institutions in rural or remote areas under the central government and the provincial councils they have given consent to serve. Other two members of the Cabinet sub-committee are Public Services, Provincial Councils and Local Government Minister Janaka Bandara Tennakoon and Water Supply Minister Vasudeva Nanayakkara. Senior ministry officials were also present at the meeting.
Lanka to lend US$2.5bn to US and top-rated borrowers in 2023 under IMF deal: analysis
ECONOMYNEXT – Sri Lanka is projected to lend 2,533 million US dollars mainly to the US and Euro areas during an International Monetary Fund deal in 2023 including a mandatory 1.4 billion US dollars collected from exports and remittances, according to official documents.
Sri Lanka is expected to get two tranches of 331.2 million dollar (254 million special drawing rights each) in March and September 2023 from the IMF.In 2023 Sri Lanka has to repay 256.4 million dollars from an earlier IMF loan taken during an earlier currency crisis.
Net inflows from the IMF would be 406.12 million US dollars in 2023 if the first review is completed in September 2023.Sri Lanka has committed to collect at least 1.4 billion US dollars from remittances and exports and lend to the US and other developed nations during 2023 under the IMF deal.
A large volume has already been collected. An ad hoc peg is now operated under the IMF deal to buy dollars and export to the West, as ‘below-the-line outflows. Sri Lanka’s foreign reserves are usually loaned to highly rated sovereign or sovereign linked borrowers, mainly in the US.
But there have been amounts of Euro assets in Sri Lanka’s foreign reserves at times, triggering forex losses when the dollar to Euro parity changed.Under the IMF program there is a performance criterion to increase net international reserves by 1,948 million dollars during 2023.
Sri Lanka is also expected to repay a 200 million US dollar swap to Bangladesh during 2023, which will also raise the NIR.At the moment Sri Lanka’s central bank is in debt after borrowing from India, Bangladesh, India including on Asian Clearing Union dues as well as the IMF. Year end net international reserves would still be negative.
Sri Lanka’s gross reserves are expected to rise by 2.5 billion US dollars to 4.4 billion US dollars in 2023 indicating that the country will lend 2.5 billion US dollars to the US and other highly rated borrowers. It may include re-invested interest coupons.
Sri Lanka is also expected to get 650 million dollars from the Asian Development Bank and 250 million dollars from the World Bank as part of partner support for the IMF deal. Outside of core monetary reserves linked to reserve money, balances in Treasury accounts are also counted as forex reserves.
BASL writes to IGP over protest against Saliya Peiris
The BAR Association of Sri Lanka (BASL) has condemned a protest staged outside the Law of Chamber of BASL President Saliya Pieris, PC on Friday.The protest was staged against the representation of Saliya Pieris, PC for notorious Sri Lankan drug kingpin Nadun Chinthaka alias “Harak Kata”.
Condemning the protest, BASL said in a statement that Saliya Pieris, PC was only conducting his professional duties with regard to a particular client.
“We are of the view the said protest seriously hinders his right to represent a client, a professional right which has been safeguarded by law,” it pointed out.
The BASL called on the Inspector General of Police (IGP) to take action to ensure that Saliya Peiris’s professional duties as an Attorney-at-law, are not hindered and to ensure his safety.
Full text of the letter: ” We write with reference to an organized protest outside the chamber of Mr Saliya Pieris, President of the \Bar Association of Sri Lanka.
We have been made aware the said protest relates to Mr. Pieris conducting his professional duties with regard to a particular client. We are of the view the said protest seriously hinders his right to represent a client, a professional right which has been safeguarded by law.In the case of Wijesundara Mudiyanselage Naveen Nayantha Bandara Wijesundara v Sirwardena and Others (SCFR 13/2019), the Supreme Court observed that:
“The first piece of legislation passed by the Parliament soon after the promulgation of the 1978 Constitution was the Judicature Act No. 02 of 1978. As the administration of justice in any civilized society cannot be effectively implemented without lawyers, the legislature in its wisdom, through the Judicature Act, established the legal profession.
Thus, there is no dispute that the legal profession is a sine qua non for the due administration of justice in this country and for that matter in any civilized society. The said profession is essential for the maintenance of the Rule of Law and maintenance of law and order and its due existence is of paramount importance to the organized functioning of the society which is primarily the basis for the smooth functioning of the country as a whole.”
Further, Section 41 of the Judicature Act which has clearly set out the right of representation, and, has further shed light on the above mechanism established for implementing the administration of justice in the country.
It is as follows; Section 41 of the Judicature Act (Right of Representation)
(1) Every attorney-at-law shall be entitled to assist and advise clients and to appear, plead or act in every court or other institution established by law for the administration of justice and every person who is a party to or has or claims to have the right to be heard in any proceeding in any such court or other such institution shall be entitled to be represented by an attorney-at-law.
(2) Every person who is a party to any proceeding before any person or tribunal exercising quasi-judicial powers and every person who has or claims to have the right to be heard before any such person or tribunal shall unless otherwise”
Therefore, we strongly demand that you take action to ensure that Mr. Peiris’s professional duties as an Attorney-at-law, are not hindered and to ensure his safety.”
State need not do business, says Ranil, seven SOEs to be divested
ECONOMYNEXT – The State need not engage in business as its mandate is to provide services such as education and maintain law and order, President Ranil Wickremesinghe said Thursday defending plans to divest government-held shares of seven state owned enterprises (SOEs).
At a discussion at the presidential secretariat on Thursday morning, Wickremesinghe responding to a question about the decision said that Sri Lanka must no longer hold on to corporations and enterprises owned by the government.
Sri Lanka has been spending more on the state-run Ceylon Electricity Board (CEB) and the Ceylon Petroleum Corporation (CPC) than it has on education, he said.The following seven SOEs will undergo the divestment of state-held shares: Sri Lankan Airlines Ltd including Sri Lankan Catering Ltd, Sri Lanka Telecom PLC, Sri Lanka Insurance Corporation Ltd,
Canwill Holdings Pvt. Ltd., (Grand Hyatt Hotel), Hotel Developers Lanka Ltd., (Hilton Hotel Colombo), Litro Gas Lanka Ltd., including Litro Gas Terminals (Pvt) Ltd., (LPG retailing), and Lanka Hospital Corporation PLC
The State Owned Enterprises Restructuring Unit of the Ministry of Finance, Economic Stabilisation and National Policies will oversee the process, a statement said.
“Not all of them are loss making. But we do have to repay debt. You can’t keep these and pay back loans.
“If we can’t pay off our loans, we might have to sell something in the house and pay it,” said Wickremesnghe.
Asked why Sri Lanka should sell SOEs that aren’t making losses, he responded: “Why is the state engaged in business? That’s not our mandate. The state has no business engaging in business.”
“In what country is there a law that these (businesses) should be (held by the state)?” he added.
Noting that the crisis-hit nation is trying to embark on a path of recovery and rapid development, the president said Sri Lanka must follow India’s example.
“India is selling their airports, profit making ones. India has come to that stage. We have to go there too.”
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