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The Consumer Affairs Authority (CAA) has issued an extra ordinary gazette notification announcing that all details pertaining to the commercial goods and commodities must be displayed for the benefit of the consumers.
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As the fuel shortage has sent the country into a lockdown situation, people, particularly those in Colombo and the suburbs, are facing a risk of losing access to food and other essential stuff, with the retailers struggle to restock their shelves on time, as they scramble to refuel their delivery fleets.
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Sri Lanka’s bunker licence holders have reached a consensus with the government to import and supply jet fuel on an immediate basis, as the country’s jet fuel reserves ran dry with Ceylon Petroleum Corporation (CPC) failing to import the required jet fuel, due to the foreign exchange crisis.
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Undertaking the first major reform in Sri Lanka’s electricity sector since 2002, the Public Utilities Commission of Sri Lanka (PUCSL) this week announced plans to complete the stalled unbundling of the Ceylon Electricity Board’s (CEB) distribution operations into four independent units over the next couple of weeks, with an aim to enhance efficiency and transparency of the country’s electricity sector.
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The bankers say they observe a significant slowdown in deposit growth lately, despite offering higher and competitive rates, a condition they attribute to a significant squeeze in the household and corporate balance sheets after the hyperinflation became persistent and started biting into real incomes and margins.
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A total of 26 train services including office and intercity trains which were scheduled to operate yesterday were cancelled following difficulties faced by the Station Masters (SMs) and junior staff in reporting for work due to the prevailing fuel crisis, the Sri Lanka Railways Station Masters’ Union (SLRSMU) said.
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Prime Minister’s advisior Sagala Ratnayake today said that a Diesel shipment containing 30,000 metric tons was due between July 11-15 and a Petrol shipment from India is due by July 22 although the government is trying to source a Petrol shipment by July 10.
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Whilst alleging that liberalising Sri Lanka’s fuel distribution will result in the closure of the Sapugaskanda refinery, Leader of Opposition Sajith Premadasa today said he together with other opposition political parties will launch a struggle to save it.
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Sri Lanka’s Gross Domestic Product (GDP) contracted by 1.6 percent in the first quarter of 2022 as the island nation’s economic activity slowed significantly despite the expectations of a recovery after two years of the pandemic in 2020 and 2021. The Department of the Census and Statistics (DCS) said the economic growth cratered due “factors such as inflation, foreign exchange devaluation and dollar deficit.”
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The government has decided to utilise 250,000 hectares of cultivatable land belonging to religious establishments to cultivate food crops under the national food production programme themed ‘Ekwa Wawamu – Rata Dinawamu’ as a speedy solution to the looming food crisis.
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Britain on Monday said that, while Sri Lanka is a human rights priority country for the Foreign, Commonwealth and Development Office, its assessment was that a referral to the International Criminal Court (ICC) against those responsible for alleged human rights violations in Sri Lanka would not have the required support from members of the UN Security Council.