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South Asian internet economy to cross $100 billion mark

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As stuck at home consumers go online to shop after the pandemic, South Asia’s internet economy is all set to cross the $100 billion mark this year, said a recent report.

According to the report, South Asia’s internet economy will hit $105 billion this year.  The report said that the region added 40 million new internet users this year, taking the total to 400 million.  That implies 70% of the region’s population is now online.

The report while citing investment pundits, said “The coronavirus has brought about a permanent and massive digital adoption spurt.”

Moreover, the report said that Southeast Asia’s internet economy expanded 5% from 2019. E-commerce grew 63% to reach $62 billion in 2020, to become the largest vertical this year, whereas the travel sector contracted 58% to $14 billion.

Online retailers have emerged as winners from coronavirus lockdowns as people prefer to shop from their homes instead of making a trip to stores amid worries over a resurgence in infections.

The online industry of the South Asian region is poised to triple to $309 billion in gross merchandise value by 2025, nearly in line with the $300 billion forecasts made last year. With an 11% increase in online users, Southeast Asia is one of the world’s fastest-growing internet markets. That compares with around 4.7 billion internet users worldwide, up 7.4% from a year ago, according to wearesocial.com, a digital monitoring service.

In addition to this, the report said that the investors still have sufficient capital to deploy but are focusing more on companies’ path to financial gains.

This is the first time that such estimates in the annual South-east Asia e-Conomy report by Google, Temasek and Bain & Co had not been revised upwards to reflect the growth of the Internet economy. This year, the region’s Internet economy is expected to hit US$100 million in gross merchandise value (GMV) – which measures the total value of merchandise sold – leaving it roughly flat from a year before.

Covid-19 has proven difficult for certain sectors such as ride-hailing, online travel and lending. Unsurprisingly, online travel was the worst hit, and nosedived 58.8 per cent to US$14 billion in GMV for 2020. (ToI)



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BASL urges President to de-escalate tensions in different parts of country

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The Bar Association of Sri Lanka has called upon President Gotabaya Rajapaksa to instruct the Defence Secretary, the Commanders of the Tri Forces and the Inspector General of Police to ensure that there is an immediate de-escalation of tensions in different parts of the country – especially at fuel stations – understanding the difficulties faced by the public.”

 “Whilst keeping in mind that the police and armed forces are acting under very trying circumstances, nevertheless it is necessary to give strict instructions to the police and the forces to desist from violence in dealing with the public and to act with utmost restraint”, the BASL has said in a media statement.

 “We also call upon you to ensure that steps are taken under the law to deal with errant officers who have subjected civilians to such violence.”

The BASL is of the view that it is not appropriate for service personnel to be deployed in the present manner in matters which essentially should be managed by the Sri Lanka Police.

 The armed forces should also not be used to disturb or hinder peaceful protests as was seen last week in Galle.

Full text of the BASL letter to the President:

The Bar Association of Sri Lanka (BASL) expresses its gravest concerns at the current situation at fuel stations throughout the country and the reports of several incidents of conflicts between civilians and members of the police force and the armed forces at fuel stations. There has been video footage of civilians being assaulted by personnel of the armed forces and the police, the latest being of a civilian being kicked by an Army officer at a fuel station. There have also been situations of the police and Army opening fire into the air to contain the crowd.

Your Excellency is no doubt aware that thousands of desperate civilians are waiting in queues at hundreds of fuel stations in the country. The queues are kilometres long. The tension at the fuel stations have arisen from this desperation for which there is no immediate solution in sight.

The BASL wishes to warn Your Excellency of the imminent dangers this situation could give rise to. The present unrest could result in a conflagration between civilians and members of the armed forces or the police. Some years ago, confrontations between members of the public and the armed forces resulted in the deaths of civilians. Such incidents between the members of the armed forces or the police and the civilians will discredit Sri Lanka’s armed forces and the police.

We call upon Your Excellency to take all necessary steps to give instructions to the Defence Secretary, the Commanders of the Tri Forces and the Inspector General of Police to ensure that there is an immediate de-escalation of the situation in different parts of the country – especially at fuel stations – understanding the difficulties faced by public. Whilst keeping in mind that the police and armed forces are acting under very trying circumstances, nevertheless it is necessary to give strict instructions to the police and the forces to desist from violence in dealing with the public and to act with utmost restraint. We also call upon you to ensure that steps be taken under the law to deal with errant officers who have subjected civilians to such violence.

The Sri Lanka Army and other service personnel must be deployed only in very limited circumstances as contemplated in the Criminal Procedure Code. The BASL is of the view that it is not appropriate for service personnel to be deployed in the present manner in matters which essentially should be managed by the Sri Lanka Police. The Armed Forces should also not be used to disturb or hinder peaceful protests as was seen last week in Galle.

We trust that this will receive the immediate attention of the Government as to do otherwise may otherwise result in unprecedented turmoil and harm.

The BASL believes that the ultimate solution to the situation at fuel stations is to be transparent with the public and to ensure an equitable and effective system of fuel distribution throughout the country.

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SC orders AG to submit report on fuel purchases and distribution

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By A.J.A. Abeynayake

A three-member Supreme Court bench consisting of Justices Vijith Malalgoda, Mahinda Samayawardena and Arjuna Obeysekera yesterday ordered the Attorney General to submit a report on fuel purchases, the distribution thereof and the sectors to be provided with fuel on a priority basis.

The Supreme Court made the order after considering two fundamental rights petitions presented by the Bar Association of Sri Lanka.

The BASL has requested the Supreme Court to direct the Cabinet of Ministers to consult all stakeholders and independent experts to formulate and implement the necessary policies, and to provide concessions in relation to the prices of essential goods and services to the people including LP gas, fuel, electricity, milk powder, medicines and food.

The petitions were filed by the President of the BASL Saliya Pieris PC, Deputy President Anura Meddegoda PC, former Secretary Rajeev Amarasuriya, Treasurer Rajindh Perera and the Assistant Secretary Pasindu Silva.

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A/L may be delayed by one month

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Education Minister Sushil Premajayantha told Parliament yesterday that although it had been scheduled to hold the G.C.E. A/L Examination 2022 in November this year, it could be further delayed by another month.

Responding to a question by MP Shantha Bandara, the Minister said: “The examination should be held at least after three months of releasing the results of the previous A/L exam because the students who need to sit it again should have enough time to prepare,” the Minister said.

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