SHARE

Sunday, May 22, 2016

வெள்ள விபரம் இன்று 23-05-2016

குறிப்பு: சேதங்களின் ஆழத்தையும் அகலத்தையும் நீளத்தையும் கோலத்தையும் காட்சிகளாகப் பார்க்கையில் கீழ்க்காணும் அதிகார பூர்வ ``ஊடக`` புள்ளி விபரம் கிஞ்சிற்றும் சரியானதாக தோன்றவில்லை. ஒரே ஒரு மலைச்சரிவில் மட்டும் மூன்று கிராமங்கள் மூழ்கின.
 ===============================
Death toll rises to 82; 118 missing, 145,000 in camps
May 22, 2016, 11:16 pm The Island

By Maheesha Mudugamuwa

The death toll from last week's natural disasters has risen to 82; it is expected to increase within the next few days as rescue operations continue to look for another 118 missing people, according to the Disaster Management Centre (DMC).

Meanwhile, 30 people have been confirmed dead due to the landslide in Aranayake and 114 others are missing. Another part of the same mountain at Aranayake in Kegalle District had crashed on Saturday, but there were no casualties as residents had been evacuated following the first landslides, an official said.

According to the DMC, 34,476 people have been affected by torrential rains widespread floods, landslides, mudslides and high winds in 22 districts during last week with 29 people injured. Over 476 houses have reportedly been destroyed and thousands of others damaged; many of them are still under water.

After a week of massive flooding triggered by heavy rains, deluged capital city Colombo, too, is slowly beginning to dry out.

The Irrigation Department yesterday announced that the water levels of the Kelani River were receding.

Irrigation Department Director of Hydrology P. Hettiarachchi said the water level measured at Nagalagam Street was 5 feet and 6 inches as at 9.00 am yesterday.

The department blamed illegal constructions on the river banks for heavy floods experienced in the Colombo region.

In the Colombo District, over 145,000 people are still at evacuation centres and most of them are from the worst hit areas of Kolonnawa, Thimbirigasyaya, Kaduwela, Seethawaka and Colombo, according to the statistics of the Disaster Management Centre (DMC). More than 147,000 people in Colombo District have been affected by floods.

Relief workers are still trying to gain access to thousands of marooned people in need of food and clean water. The logistics of delivering food and other aid to the displaced had become a critical issue, the DMC said. With roads impassable because of flooding, most efforts will continue to be carried out by boats.

Landslide warning issued to Ratnapura, Kegalle, Kalutara, Kandy, Kurunegala, Nuwara Eliya and Matale has been further extended by the National Building Research Organisation (NBRO) and people living in landslide prone areas have been evacuated to safe locations.

The Meteorology Department yesterday pointed out that the weather was now returning to normal.

Asked whether the Southwest Monsoon was expected this week, the department’s Research, Training and Development Director S. Premalal told The Island that it couldn’t predict the due date of monsoon and it could only give predictions for next 24 hours.

On the second week of this month, the Met Department predicted a one-week delay in Southwest-monsoon reaching Sri Lanka this year due to the strong El Nino conditions that affected the country last year. Duty Meteorologist at the Met Department Janaka Kumara stated that due date for the monsoon was May 25, but this year it would reach the country during the first week of June.

The Met Department yesterday predicted showers in the Western, North-Western, Southern, Central and Sabaragamuwa provinces and strong windy conditions over the country and in the sea areas would continue further particularly over the Southern, Eastern and Northern sea areas.

According to the Secretary to the Disaster Management Ministry, S. S Miyanawala, a task force of security forces personnel and those from the Civil Security Division will launch operations in the coming days to re-settle the displaced people. The government had released Rs. 92 million to District Secretaries and a further Rs. 55 million was on standby, he said.

Meanwhile, the international assistance for victims of floods and landslides started to arrive in the country on Saturday, following an urgent government appeal for foreign aid. India, Australia, Japan the United States, Nepal, China and Pakistan were among the donor countries as at yesterday.

As floods are beginning to recede,

The Health Ministry urged the public to be vigilant about diseases that could spread.

Director General of Health Services Dr. Palitha Mahipala said that with the flood waters receding there was a possibility of diseases such as diarrhoea, jaundice, typhoid, dengue and leptospirosis (rat fever) spreading through food and water.

He said awareness was important to prevent the spread of those diseases.

வெள்ளம் வரு முன் காத்தல்!


Tropical Storm to bring heavy rain and flooding to India and Sri Lanka this week
Eric Leister
By Eric Leister, Meteorologist
May 18, 2016; 8:01 AM ET

The first tropical cyclone of the season in the Bay of Bengal will track near the east coast of India this week, leading to additional flooding and widespread travel delays.

The depression, named BOB 01, currently has sustained winds of 75-92 km/h (45-55 mph). Gradual strengthening is expected over the next 24 hours.

As the cyclone spins near the coast of India, heavy rain will fall in northeastern Tamil Nadu and eastern Andhra Pradesh through at least Thursday.

Due to the close proximity to land, AccuWeather meteorologists think that there is a minimal threat for this low to become a significant tropical cyclone. However, the flood threat will not diminish.
Through Thursday, widespread rainfall of 100-200 mm (4-8 inches) of rain is expected across the region.

The heaviest rain will fall from Chennai to Machilipatnam. These areas could see locally 300 mm (12 inches) of rain.

In Chennai, where the worst flooding in a century brought the city to a stand still in December, the heaviest rain will fall through Wednesday before drier weather returns late in the week. Flooding this week is not expected to be as severe as December's event; however, travel delays are likely. Rainfall has already surpassed

Heavy rain will also fall across Kerala and western Sri Lanka where downpours will continue into Thursday. Drenching rain has caused flooding in these areas and additional downpours will elevate the threat of flooding and mudslides.

The 2015 monsoon brought below-average rainfall to Kerala, so this early-season rainfall is needed across the region, despite the dangers. May is typically when southern India and Sri Lanka have an increase in rain from tropical lows and cyclones, which tend to develop during the leading edge of the monsoon.

At least eleven people were killed in flooding and mudslides, while more than 130,000 have been forced out of their homes, according to The Associated Press.

The depression is expected to turn northeast late this week and into this weekend as the heaviest rain shifts from India into Bangladesh and Myanmar.

Meteorologist Adam Douty contributed content to this story.
=======================
Cyclone Roanu leaves at least 21 people dead in Bangladesh
Kristina Pydynowski
By Kristina Pydynowski, Senior Meteorologist
May 21, 2016; 5:15 PM ET


After causing devastating flooding and mudslides in Sri Lanka earlier in the week, Cyclone Roanu turned deadly again this weekend as it slammed into Bangladesh.

At least 21 people are dead with many more injured in coastal Bangladesh, according to Reuters.
The deaths occurred amid house collapses, landslides and a storm surge that broke embankments at two spots in Chittagong.

Bangladeshi men pull a loaded cart through a waterlogged street after heavy rainfall in Dhaka, Bangladesh, Saturday, May 21, 2016. Mixing of rain water and toxicwaste from industries has turned water green. (AP Photo/ A.M. Ahad)

Officials told Reuters that some places were inundated by a storm surge that was 0.9 to 1.2 meters (3 to 4 feet) above normal tide height.

The first tropical cyclone of the season in the Bay of Bengal made landfall in Bangladesh, just north of Chittagong, on Saturday.

While interaction with land is causing Roanu to weaken, in terms of damaging winds, the threat for flooding will persist across northeastern India and northern and coastal Myanmar on Sunday.

In northeastern India, this includes Tripura, Mizoram, Manipur, Nagaland and eastern parts of Assam and Arunachal Pradesh.

Widespread rainfall totals of 150-300 mm (6-12 inches) are expected, raising significant concerns for life-threatening flooding and landslides. Some communities could be cut off by damaged or flood-ravaged roads and bridges.


"There will be localized amounts in excess of 300 mm (12 inches)," AccuWeather Meteorologist Rob Richards said. That is especially true in the higher terrain.

While the heaviest rain has departed, Bangladesh will face locally heavy thunderstorms into Sunday, which threatens to renew more flooding and interfere withcleanup operations.

Prior to the cyclone's arrival, Reuters reported that authorities in Bangladesh relocated about 500,000 people into 3,500 homes.

Roanu also turned deadly in Sri Lanka earlier in the week. The Associated Press reports that more than 70 people have been killed in landslides and flooding since Monday. Dozens are missing after mudslides devastated three villages in the central district of Kegalle.

While the rain spread from Sri Lanka, then up the eastern coast of India, intense heat worsened across western India as the circulation around Roanu pulled in dry and warmer air. On Thursday, Phalodi in Rajasthan set the all-time record high for India when temperatures soared to 51 C (123.8 F).

The extreme heat will ease for this weekend, but hot conditions will continue to put a strain on residents throughout western and northern India well into next week.

What are El Niño and La Niña?


What are El Niño and La Niña?

El Niño and La Niña are complex weather patterns resulting from variations in ocean temperatures in the Equatorial Pacific.

Warmer or colder than average ocean temperatures in one part of the world can influence weather around the globe. Watch this Ocean Today video to see how this works.

El Niño and La Niña are opposite phases of what is known as the El Niño-Southern Oscillation (ENSO) cycle. The ENSO cycle is a scientific term that describes the fluctuations in temperature between the ocean and atmosphere in the east-central Equatorial Pacific (approximately between the International Date Line and 120 degrees West).

La Niña is sometimes referred to as the cold phase of ENSO and El Niño as the warm phase of ENSO. These deviations from normal surface temperatures can have large-scale impacts not only on ocean processes, but also on global weather and climate.

El Niño and La Niña episodes typically last nine to 12 months, but some prolonged events may last for years. While their frequency can be quite irregular, El Niño and La Niña events occur on average every two to seven years. Typically, El Niño occurs more frequently than La Niña.

El Niño

El Niño means The Little Boy, or Christ Child in Spanish. El Niño was originally recognized by fishermen off the coast of South America in the 1600s, with the appearance of unusually warm water in the Pacific Ocean. The name was chosen based on the time of year (around December) during which these warm waters events tended to occur.

The term El Niño refers to the large-scale ocean-atmosphere climate interaction linked to a periodic warming in sea surface temperatures across the central and east-central Equatorial Pacific.

Typical El Niño effects are likely to develop over North America during the upcoming winter season. Those include warmer-than-average temperatures over western and central Canada, and over the western and northern United States. Wetter-than-average conditions are likely over portions of the U.S. Gulf Coast and Florida, while drier-than-average conditions can be expected in the Ohio Valley and the Pacific Northwest. The presence of El Niño can significantly influence weather patterns, ocean conditions, and marine fisheries across large portions of the globe for an extended period of time.

La Niña

La Niña means The Little Girl in Spanish. La Niña is also sometimes called El Viejo, anti-El Niño, or simply "a cold event."

La Niña episodes represent periods of below-average sea surface temperatures across the east-central Equatorial Pacific. Global climate La Niña impacts tend to be opposite those of El Niño impacts. In the tropics, ocean temperature variations in La Niña also tend to be opposite those of El Niño.

During a La Niña year, winter temperatures are warmer than normal in the Southeast and cooler than normal in the Northwest.

Friday, May 20, 2016

அறுமுனைப் போட்டியில் அம்மா ஆட்சியில்!


பதிவான வாக்குகளில்
41% வாக்குகள், 58% தொகுதிகள்
அம்மா ``அமோக`` வெற்றி!

தாண்டவத்தைச் சந்திக்க தயாராகு தமிழகமே!!




தமிழக தேர்தல் வாக்கு விகிதம்: அதிமுகவுக்கு 40.8சதவீத வாக்குகள்; திமுகவுக்கு 31.5 சதவீத வாக்குகள்

தமிழக சட்டமன்றத் தேர்தலில் 132 இடங்களைப் பெற்று வெற்றி பெற்றுள்ள அதிமுக, பதிவான மொத்த வாக்குகளில், சுமார் 40.8 சதவீத வாக்குகளைப் பெற்றுள்ளது.

இரண்டாம் இடம் பிடித்துள்ள திமுக 31.5 சதவீத வாக்குகளையும், அதன் கூட்டணி கட்சியான இந்திய தேசிய காங்கிரஸ் 6.5 சதவீத வாக்குகளையும் பெற்றுள்ளன. அடுத்த இடம் பிடித்துள்ள பாட்டாளி மக்கள் கட்சி 5.3%, பாரதிய ஜனதா கட்சி 2.9%, தேசிய முற்போக்கு திராவிட கழகம் 2.4%, நாம் தமிழர் கட்சி 1.1 சதவீத வாக்குகளைப் பெற்றுள்ளனர்.

மதிமுக 0. 9%, இந்திய கம்யூனிஸ்ட் 0.8%, விடுதலைச் சிறுத்தைகள் கட்சி பூஜ்ஜியம் புள்ளி 0.8% வாக்குகளையும் மார்க்ஸிஸ்ட் கம்யூனிஸ்ட் மற்றும் இந்திய யூனியன் முஸ்லீம் லீக் தலா  0. 7 % வாக்குகளையும் பெற்றுள்ளனர். நோட்டாவுக்கு 1.3 சதவீத வாக்குகள் கிடைத்திருக்க, சுயேச்சை உள்ளிட்ட மற்ற கட்சிகள் மீதமுள்ள 4.5 சதவீத வாக்குகளைப் பகிர்ந்‌து கொண்டிருப்பதாக இந்திய தேர்தல் ஆணையம் தெரிவித்துள்ளது


.

Wednesday, May 18, 2016

2016 முள்ளிவாய்க்கால் பா!

முட்கள் பாய்ந்த மனங்களென
முள்ளிவாய்க்கால் நினைவுகள்
---------------------------------------------------------------------
உண்ண முடியுதில்லை உறக்கம் வருகுதில்லை
தூங்கா நினைவுகள்
கொடுக்கெனக் கொத்துகின்றன,

மனத்திலே உறுத்துகின்ற மரணக் கோலங்களே
கண்ணுக்குள் ஓடி வந்து கருத்தை நிறைக்கின்றன.

கூர்முள்ளாய் குத்தி குருதி பெருகுகின்ற
மீளாத் துயரங்களே நிரம்பி வழிகின்றன.

நினைவின் வலிகளிலே சக மனிதப் பிராண்டல்கள்.
சுக்குநூறாய் உடைந்த மனம்
பதறிக் கிடக்கையிலே...

கண்ணீரை துடைப்பதற்காய் கைநீட்டியது குற்றமென கண்களையே பிடுங்கியது
காலத்தின் நீதி ஒன்று.

உறுத்துகின்ற நினைவுகளில்  உருக்குலையும் மனங்களிலே
ஆறாத வடுவாக
முள்ளி வாய்க்கால் பேரவலம்
பிணங்கடந்து வந்தவர்கள்
நடைப் பிணமாக வாழ்கின்றார்
பிணங்களுக்கு ஒரு பீடம்
அமைக்க இடமின்றி;

தொட்டிலோடு பிள்ளை உயிர்
பிய்த்தெடுத்த பேய்களதோ
போருடையும் மாறவில்லை
பொல்லா வாளும் மாறவில்லை.

நாங்கள் மட்டும் மாறவேண்டும்
பழையதை மறக்க வேண்டும்
புதியதை நினைக்க வேண்டும்
புலம்பலை நிறுத்த வேண்டும்.

எப்படி முடியும் அந்த வலிகளை மறந்து விட.
காயங்களோ ஆறவில்லை
மருந்துகளும் அவைக்கு இல்லை.

புரையேறிய நினைவுகளாய் எங்கள் உற்றவர்கள்
சிரசுக்குள் நின்றுலவும் பிணக்கோலம்  மறக்குதில்லை.

நினைவுகள் கனக்கும் நெஞ்சத்துக் கனல் தணிய அழுவதைத் தவிர இங்கே
ஆறுதலும் ஏதுமில்லை.

வெற்றிச்செல்வி
14.05.2016

முள்ளிவாய்க்கால் விடுதலைக் கானங்கள்

Tuesday, May 10, 2016

Fitch downgrades Sri Lanka rating to ‘B+’ on external debt

ENB File Photo
Fitch downgrades Sri Lanka rating to ‘B+’ on external debt

Author LBO
Posted on February 29, 2016

Feb 29, 2016 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) one notch to ‘B+’ from ‘BB-‘.

A Negative Outlook has been assigned to the IDRs. The issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also downgraded to ‘B+’ from ‘BB-‘. The Country Ceiling is downgraded to ‘B+’ from ‘BB-‘ and the Short-Term Foreign-Currency IDR is affirmed at ‘B’.

Fitch said the rating action reflects increasing refinancing risks.

“The Sri Lankan sovereign faces increased refinancing risks on account of high upcoming external debt maturities. Further, the sovereign’s external liquidity position remains strained, reflecting pressure on foreign exchange reserves.”

“In Fitch’s view, this partly reflects a weakening in policy coherence that increases the likelihood of Sri Lanka requiring external liquidity support from the IMF and other multilateral institutions.”

A statement from Fitch said Sri Lanka’s external liquidity ratio, as measured by Fitch at the end of 2015, was 70.9%, which is far below the median of ‘B’-rated peers’ of 171.9% and the ‘BB’ median of 152.4%.

Another reason for the rating action was significant debt maturities.

“Sri Lanka faces significant debt maturities in 2016 amid the country’s vulnerability to a shift in investor sentiment. Fitch estimates the sovereign’s external debt service to be close to USD4bn for the rest of 2016, compared with FX reserves of USD6.3bn (end-January 2016).”

“Sri Lanka’s vulnerability to a shift in investor sentiment was evident when investors sold-off the equivalent of nearly USD2bn in local-currency government securities in 2015. A further outflow from treasury bills and treasury bonds, which account for about 31% of the country’s FX reserves, could put more pressure on reserves.”

However, prevailing low oil prices will continue to support Sri Lanka’s current-account deficit in the near term, Fitch said. Fitch expects the current-account deficit to remain manageable at about 3% of GDP over 2016-17.

In terms of weaker public finances, the deterioration in Sri Lanka’s fiscal finances is driven partly by consistently low general government revenues.

At an estimated 13% of GDP, Sri Lanka’s gross general government revenues remain far below the ‘B’ median of 25.4% and the ‘BB’ median of 26%. The 2016 budget did little to address this issue directly and absent any significant fiscal consolidation, Fitch expects continued fiscal slippage over 2016-17.

Sri Lanka’s gross general government debt (GGGD) burden is estimated to have increased to more than 75% of GDP by the end of 2015, up from 71% at the end of 2014 and much higher than the ‘B’ median of 52% of GDP and ‘BB’ median of 43.6%.

Fitch has revised downwards its forecast for foreign-exchange reserves, with reserve coverage of current external payments now forecast to decline to 2.9 months in 2016 from an estimated 3.4 months in 2015. This forecast compares unfavourably with Fitch’s earlier forecast of 3.9 months for 2016 and is well below the ‘BB’ median of 4.2 months.

While the authorities have undertaken certain measures to support external finances, including entering into bilateral swaps with other central banks, Fitch does not view this to be a sustainable way to improve the stability of the external finances.

Sri Lanka has also increased its issuance of foreign-currency debt, which Fitch estimates now makes up close to 46% of total public debt, up from nearly 42% at the end of 2014. This has increased vulnerability of Sri Lanka’s public debt to a significant depreciation of the exchange rate, which would increase the debt burden in local currency terms.

Sri Lanka’s macroeconomic performance remains stronger than some of its peers’ in the ‘B’ and ‘BB’ range with real GDP growth for the five-year period ending 2015 averaging close to 6%, compared with the ‘B’ median of 4.6% and ‘BB’ median of 3.9%.

Sri Lanka also continues to score highly, compared with the ‘B’ median, on basic human development indicators, such as education, health and literacy, which is indicated by its favourable ranking in the UN’s Human Development Index. These relative structural strengths, combined with a clean external debt service record and smooth transition of power during the presidential and parliamentary elections in 2015 indicates a basic level of political stability, which supports the rating at ‘B+’.

Sri Lanka hikes VAT, taxes capital gains before IMF loan talks

Sri Lanka hikes VAT, taxes capital gains before IMF loan talks
COLOMBO | BY SHIHAR ANEEZ AND RANGA SIRILAL

Sri Lanka will raise its value added tax and reintroduce capital gains tax to break out of a debt trap, Prime Minister Ranil Wickremesinghe said on Tuesday, ahead of talks on a $1.5-billion loan it is seeking from the International Monetary Fund.

Sri Lanka's finances are under scrutiny after ratings agency Fitch last week downgraded its sovereign rating by a notch, to "B+", spurred by a ballooning fiscal deficit, rising foreign debt and sluggish growth prospects.

It also faces a balance-of-payments crisis after a third of its foreign exchange reserves was depleted within the 15 months to January by the central bank's defence of the rupee currency, pressured by heavy debt piled up under the previous government.

"This crisis can be overcome only by reducing the budget deficit and a medium-term joint financial programme aiming at suitable reforms to reduce the debt burden," Wickremesinghe told lawmakers.

Taking action to boost revenues, he announced that VAT would be hiked to 15 percent from 11 percent, while capital gains will be taxed for the first time since 1987.

Wickremesinghe said the government owed 9.5 trillion rupees ($65.6 billion), as he revised some of the main budget numbers presented in November.

He said the former government headed by Mahinda Rajapaksa has not included 1.04 trillion rupees in borrowing by state enterprises in the national debt, which was estimated at 8.48 trillion rupees at the end of last year.

The prime minister, also the minister of policy planning and economic development, said the country has to pay 1.21 trillion rupees on its debts this year, including 562 billion rupees in interest.
The IMF has long called on Sri Lanka to reduce its budget deficit, raise revenues, and bolster its foreign exchange reserves. These are likely to be the main conditions for the grant of a loan, economists say.
Sri Lankan shares fell more than 2 percent on Tuesday, hitting a near two-year low on concerns over the government's possible tax hikes to qualify for what the finance ministry expects will be a $1.5-billion IMF loan. [nL3N1633XT]

The uncertainty over taxes also hit the rupee LKR=LK currency.

"The government is responding to an urgent revenue need," Anushka Wijesinghe, the chief economist of Sri Lanka's main business chamber, told Reuters.

"But ad hoc tax policy changes like these will hurt investor sentiment. The credibility of the budget is lost."

($1=144.8500 Sri Lankan rupees)

(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Douglas Busvine and Clarence Fernande
================
VAT A Let-Down!
by Ashanthi Warunasuirya

Having failed to secure the much anticipated foreign assistance to carry out its promises, the government is now looking at increasing taxes. However, sustaining political power at the expense of the people is hardly justifiable. It is a known fact that a government cannot survive without taxes. In order to cover its daily expenses, every government imposes direct taxes upon the income of the rich and indirect taxes upon consumer goods such as fuel, communication and food items. However, there has to be a just basis when imposing taxes. Hence it is important to analyse how just the May 2016 tax hike is.

The government has been forced to increase taxes as they currently do not have enough finances to carry out the promises made to the people during the polls. Although the Yahapalana administration had high hopes of receiving international financial assistance, it has not become a reality. In reality, no foreign country is willing to provide money for a government to carry out its election promises. Thus the government has been compelled to turn back towards the very people they had previously deceived.

Some would opine that this is a fraud being committed in broad daylight. The Value Added Tax (VAT) that previously stood at 11 percent has been increased to 15 per cent with effect from May 2. According to Finance Minister Ravi Karunanayake, the education and pharmaceutical sectors have been exempted from this increase. Accordingly, import or export of communication equipment including copper cables for the telecommunication industry and the issue of licences to local telecommunication operators by the TRC are liable for increased VAT. The supply of goods and services to any specified project other than housing projects approved on or after May 5 will also be taxed.

Expressing his views on the recent tax hike, former President Mahinda Rajapaksa has said that the present government made irresponsible promises at the presidential election in order to win votes. He has said that after winning, they had to fulfill at least some of their election pledges if they were to win the parliamentary election.

Rajapaksa has said that for more than a year now the government has been borrowing heavily in the foreign as well as domestic markets to pay for the salary increases and various handouts they gave in its bid to win the election. Rajapaksa has said that after January 2015, the government has obtained USD7,436 million in foreign loans, nearly half of which (USD3,298 million) has to be paid back before the end of this year, apart from the hundreds of billions of rupees the government has been borrowing in the domestic market by issuing treasury bills and bonds. According to him, the government is now trying to collect taxes from the people to repay these debts. While the former President made these comments on tax hikes, Media Minister Gayantha Karunathilake called these taxes ‘Rajapaksa taxes.’ He has said the government has been compelled to increase taxes in order to save the country as they have been given the country amidst immense financial debts. Pointing out that the economy has to be managed with the commitment of all, the minister has further said that VAT has been increased with a minimum burden to the people. He has also said that conditions would be more favourable after the Prime Minister’s oncoming China tour and the President’s Japan visit.

However, various social groups have expressed different views on this matter. Accordingly, the national organiser of the All Island Cafeteria Owners Union, Asela Sampath said the prices of food items sold in cafeterias will be increased parallel to the 15 per cent VAT increase. He said the prices of food items will be increased at least by 10 rupees.



Sri Lanka to lose US$ 39.8 mn from TPP exclusion

Sri Lanka to lose US$ 39.8 mn from TPP exclusion
MAY 11 2016

The level of trade diversion or market loss for Sri Lanka due to Sri Lanka being excluded in the Trans-Pacific Partnership (TPP) is expected to be around US$ 39.8 million, Preliminary estimates by the Institute of Policy Studies of Sri Lanka (IPS) shows.

The TPP was signed last February bringing together 12 countries, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, US, and Vietnam. These countries accounts for more than one-third of world’s GDP, and one quarter of world trade.

TPP will now undergo a two year ratification process in all the 12 countries.
Trans-Pacific Partnership (TPP)

A country-wise analysis shows that the biggest loss in exports for Sri Lanka would be in the USA (81%). To a much lesser extent, export loss will also take place in Mexico (8.8 per cent), Canada (5.7 %) and Japan (1.7%).

“When reviewing the garment sector, Sri Lanka need to carefully address the TPP under which tax free garment export opportunities have been given to countries such as Vietnam. This has enabled them to engage in competitive markets and supply the American and Japanese markets at low rates. This may also affect exports from Sri Lanka in the future. TPP must therefore be reviewed further,” the study said.

Duty free market access provided under the Agreement for member countries would result in cheaper prices for goods traded among TPP countries. This can in turn would be diverted towards TPP countries where buyers can benefit from purchasing cheaper goods.

The size and scope of this trade deal makes it a pertinent trade policy issue for both members and non-members like Sri Lanka.

Countries such as Korea, Taiwan, the Philippines, Colombia, Thailand, Indonesia, have expressed an interest in joining the mega regional grouping. Therefore, the risks of trade loss or diversion are likely to increase with time given that Sri Lanka is also not part of the other mega-regional trade agreements under negotiations.

Sri Lanka too has cast its eyes on TPP and is currently conducting a feasibility study to determine the pros and cons of the Agreement.

Sri Lanka should strive to improve the competitiveness of its own exports by creating competitive infrastructure services, promoting export oriented foreign investment, facilitating goods across borders effectively, addressing export market issues through trade agreements, and improving

access to inputs of materials, capital, and technology for the export sector.

In November 2015, Prime Minister, Ranil Wickremesinghe stressed the need for an urgent review of the TPP in his Economic Policy Statement.The IPS study was conducted by Research Fellow Dr. Janaka Wijayasiri and Research Officer Nipuni Perera.

இந்திய மனிதாபிமானம்-மன்னார்க் கடலில் மீன் பிடிப்பது தமிழக - ஸ்ராலின் சம்மாட்டிகளின்- உரிமை!

Navy arrests 17 Indian fishers, seizes two boats in Mannar The Sri Lanka Navy and Coast Guard seized two Indian fishing boats and arrested 1...