Arundathie Abeysinghe

Sri Lanka is considering building small, offshore and onshore reactors, deeming nuclear power an environmentally and economically viable option. Currently, its electricity comes mainly from hydroelectric power plants. The government is vetting an existing contract between Rosatom and Bangladesh.

There are 300 manufacturing companies that employ 350 thousand workers and produce garments for dozens of major international brands. Trade unions: the companies 'have also closed entire facilities without even paying the paltry compensation recommended by the government'. The industry accounts for more than 50 per cent of total national export revenue.

IMF, World Bank and Asian Development Bank are set to help the South Asian country to boost its forex reserves by US$ 8.4 billion. This will reassure its main creditors, including China and India. But it is as a result of Chinese investments that the island nation is in its current predicament.

Foreign exchange reserves rose by 23.5 per cent. For economists, this is the beginning of the end of the economic crisis. The possibility of obtaining a loan from the International Monetary Fund is increasing.

President Ranil Wickremesinghe tried to stop labour action by labelling transport services as essential. Some analysts believe work stoppage failed because many employees went to work for fear of losing their job. Trade unions now threaten a broader strike, affecting all sectors.

The proposal was put forward by the Fisheries Minister as a solution to illegal activities. Trawling by fishermen in Tamil Nadu has a strong environmental impact on fish stocks. Sri Lankan fishermen feel that the government is buckling under Indian pressure.

Funded by the European Union, the project is called PROMISE and involves 30 countries, with India as a leader. Over four years, it aims to reduce marine pollution by local small- and medium-sized enterprises, which do not have the resources to implement circular economy strategies. As a result of microplastics, fish stocks in Sri Lanka have dropped from 300,000 to 53,000 tonnes.

Yesterday’s decision by the public utility has had an immediate effect. This is part of the government’s goal of getting the International Monetary Fund to provide funds that will revive the economy. Both ordinary citizens and business associations are unhappy with it. Food prices rise 10 per cent overnight.

In rural areas, health facilities have posted notices asking patients to bring plasters, gauze, and bandages. The National Medicines Regulatory Authority has authorised the importation of non-essential drugs, as well as shampoo. In the meantime, the government has set up a committee to address the problem.

More and more information technology professionals are moving to Australia, the United States and the European Union following hikes in personal income tax last month. According to analysts, higher taxes are not bad per se, but this is not the right time. The Sri Lankan government also lacks transparency.

If it goes ahead, the project would allow large ships to bypass sailing around Sri Lanka, thus reducing fuel costs; it would also allow India to enhance its geopolitical position. However, experts warn that the project’s environmental risks have been underestimated.

The latest official Sri Lankan data come from 2017. Norway plans to set up an independent inquiry. In the 1970s, baby farms were popular, selling Sri Lankan babies with false papers to European couples. Some Sri Lankans remember younger siblings going missing this way.