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Litro Gas receives ISO 45001: 2018 for Occupational Health and Safety

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Litro Gas has always been conscious of their national responsibility as the country’s industry leader in the LPG sector. For the company, safety and health are key elements that are prioritized across its multi-channel operation. This gives further impetus to its unique positioning as a state owned entity which has strong partnership with the private sector channel partners.

In recognition of its outstanding commitment to occupational health & safety, Litro Gas was recently awarded ISO 45001: 2018 by the International Organization for Standardization of Geneva, Switzerland. This affirms compliance with the globally ratified occupational health and safety management systems recognized as the industry standard worldwide.

In 2018, Litro Gas was awarded the ISO 14001 and OHSAS 18001 certification for its effective Health, Safety and Environment (HSE) management system.

“Safety forms the cornerstone of our entire operation”, says Anil Koswatte, Chairman and CEO of Litro Gas Lanka Ltd. and Litro Gas Terminal Lanka (Pvt) Ltd. “We uphold the highest quality standards across all our systems which is paramount to what we do. Safety in fact forms the very core of our operations, ensuring a seamless delivery of quality to our consumers.”

Litro Gas believes that their newest standards affirmation reinforces the Company’s consistent processes of ensuring industry specific and globally accepted Health, Safety and Environment (HSE) management systems that assure the safety of its employees, customers and the entire community.

“We have in place a world-class risk assessment control system that assures the safeguarding of our people, the environment, our assets and the interests of our stakeholders. With ISO 45001:2018, we have enhanced this process, adding more value to our business”, he adds.

Commenting on the award, Mr. Jayantha Basnayake, Director – Health, Safety & Environment at Litro Gas says that this recognition reiterates the safety protocols deployed by the Company in meeting the highest possible safety and health standards. “Operating as we do in the energy sector, safety and health are considered key elements. The LPG industry is based on observing multi standard procedures that are implemented under stringent guidelines set by global and local LPG industry standards and practices and governing laws.”

Having been recently feted with the SLS 1672:2020 COVID-19 safety compliant standards by the Sri Lanka Standards Institution, Litro Gas upholds the unique level of service delivered seamlessly to customers through the pandemic, says Basnayake. “We understand the importance of managing our operations to meet the highest possible standards while ensuring a sustainable presence within the wider social and environmental context. The Company constantly focuses on continually training all the channel members, bulk and commercial customers on LPG related safety rules, regulations and processes”, he adds.

In recognition of its exceptional commitment towards maintaining optimum health, safety and environment systems, Litro Gas became the first Company in the Oil and Gas sector to be feted with the All island Overall Excellence Bronze Award at the National Occupational Safety and Health Excellence Awards, 2018.

Litro Gas operates one of Asia’s leading and most efficient LPG storage facilities at Kerawalapitiya and Hambantota. An island-wide network of 37 distributors, approximately 1,500 home delivery hubs and 11,000 points-of-sale locations power the Company’s reach throughout the country.

Litro Gas leads the LPG market in Sri Lanka with a 75% market share and a turnover of Rs. 45 billion. The majority of shares in Litro Gas are owned by the General Treasury through the Sri Lanka Insurance Corporation, yet Litro Gas is managed as a unique corporate enterprise, making the Company an exceptional entity in the business world.

The Company views the ISO certification as a key component in their drive towards creating greater significance and sustainability. “Sustainability is a crucial factor that drives every aspect of our operation – it adds value to our supply chain, our stakeholders, our employees, our key stakeholders and the community at large.” Basnayake says in conclusion.

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realme dares to leap into Sri Lankan youth market with cutting edge devices

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realme, the world’s fastest-growing smartphone brand, launched its products in Sri Lanka on the November 23. The virtual launch event took place with the participation of Chanux bro and realme Sri Lanka team where benchmark, trendsetting realme products were introduced to the Sri Lankan market.

The launch expands the reach of the fastest smartphone brand to reach 50 million product sales worldwide, to a brand new market with young users looking for the very best in technology and smart devices. Ranked among the Top 5 brands in over 13 markets globally in just two years of operation, realme is ranked seventh globally. Proclaiming it will ‘dare to leap’, realme identifies with young people who are willing to take a risk, and has launched four cutting edge products to the Sri Lanka market, set to exceed expectations.

realme 7 – sharper captures and cooler gaming with faster charges

realme 7 grabs the imagination of the youth with a 64MP Quad Camera with Sony IMX682 sensor for sharper captures, the World’s First MediaTek Helio G95 Gaming Processor for cool gaming and a 30W Dart Charge, taking just 26 mins to get 5000mAh battery 50% Charged. The sleek smartphone comes with a 6.5-inch 90Hz Ultra Smooth Display with a 16MP In-display Selfie Camera and Starry Mode.

The first smartphone to have passed TÜV Rheinland Smartphone Reliability, realme 7 is the first in segment smartphone with the Sony 64MP Quad Camera.

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President to inaugurate CCC Sri Lanka Economic Summit

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Sri Lanka’s foremost economic summit will be inaugurated by Chief Guest Gotabaya Rajapaksa, President of the Democratic Socialist Republic of Sri Lanka on December 1. The summit is themed “Roadmap for Take-off: Driving a People Centric Economic Revival”. The President will also deliver the inaugural address.

Mahinda Rajapaksa, Prime Minister of the Democratic Socialist Republic of Sri Lanka, will launch the second phase of the summit on December 2 and participate in the VVIP session focused on “Empowering Take-off: Efficient Government and Progressive State Enterprises.”

The Inaugural session on December 1, commencing at 8.30am will feature addresses by keynote speaker Nirmala Sitharaman, Minister of Finance and Corporate Affairs of the Republic of India and Guest of Honour Ajith Nivard Cabraal, State Minister of Money and Capital Markets and State Enterprise Reforms. Dr. Hans Wijayasuriya – chairman of the Ceylon Chamber of Commerce will deliver the welcome address.

The flagship summit will be held on a virtual format in compliance with health guidelines and will bring together key policymakers, business leaders as well as the input of top international thought leaders will come together to identify the steps in developing the pathway towards the accelerated and people centric revival of the country’s economy.

Participants may register for the entire two-day virtual summit, or pick the sessions of their choice, an opportunity offered for the first time. Registrations for the event are now open. For further information, please contact Niroshini on niroshini@chamber.lk or 0115588852; or Alikie on alikie@chamber.lk or 0115588805. (CCC)

 

 

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Central Bank’s policy rates decision to be driven by two options

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by Sanath Nanayakkare

The Central Bank will be reviewing its monetary policy stance on November 26. In this context, First Capital Research has put forward strong arguments both for and against an interest rate cut, in its Pre-Policy Analysis.

Making their argument against further relaxation in monetary policy First Capital said, “As a response to the measures taken by the government, private sector credit has improved to Rs. 87.4Bn in September while market liquidity reached Rs. 140 bn by 13th Nov indicating that there is surplus liquidity in the system. Moreover, the unemployment rate, which was at 5.7% in the 1Q2020 has declined to 5.4% in the second quarter. These indicators suggest that economic activity has remained steady without much deterioration in the 2Q. Except the GDP growth numbers, where the 2Q2020 figures are yet to be seen, other indicators are signifying a recovery, inquiring the need of further policy easing at the upcoming review”.

“In response to previous monetary easing measures implemented by CBSL, to bring down costs of borrowing of businesses and households, both market deposit and lending rates adjusted notably so far during the year. AWPR declined to historic lows in recent weeks, while banks’ lending rates also witnessed a downward adjustment in line with CBSL’s expectations. We believe that considering the recovery in the private credit and historic low levels in AWPR, there is no vital requirement for CBSL to provide a rate cut and to further bring down the market lending rates drastically”.

Their arguments for further relaxation in monetary policy was: “A thrust for development is the need of the current government. We estimate that Sri Lanka’s GDP would see its steepest contraction in history of -5.8% in 2020 following the unexpected contraction in 1Q GDP growth of -1.6% while 2Q GDP figures are yet to be seen. However, the government’s key drive is the development oriented economic growth which was spelt out through the budget 2021 as well. Accordingly, the government plans to reach 6% and above GDP growth during the next 5 years commencing from 2021. As we believe, a development-oriented budget coupled with further low interest rate environment can support the government’s medium-term goals. Therefore, the need to accelerate the GDP growth can be considered as a major factor favouring further policy easing at the upcoming review.”

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