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| July 26, 2010 Gold Reserves up*Total value amounts to US $ 700 million*Overseas investments net additional Rs 10 billionThe Central Bank has been able to amass record gold reserves with the Central Bank taking steps within the past 10 months to purchase 21 metric tons of Gold - an increase from the paltry two to three tons of gold in its vaults not so long ago.
This is an unprecedented feat and a great victory according to Senior Deputy Governor of the Central Bank Dharma Dheerasinghe. He said the value of the gold reserves currently held by the Central Bank is 700 million US dollars (Rs. 75 billion). The Senior Deputy Governor said there was a trend showing an escalation of gold prices in the world market on a daily basis.At such a time the success of the Central Bank in raising its gold deposits was an indication of the country’s economic strength. He also said that the Central Bank which has been successful in accumulating such a large gold reserve will at no time barter it away in a way that would be disadvantageous or unprofitable to the country. While succeeding in expanding its gold reserve base the Central Bank has also been able to earn Rs 10 billion from its overseas investments - a special feature being that what the CB had earned from its overseas investments for the whole of last year was equalled in January alone this year. He said they expect to earn over Rs. 20 billion from overseas investments by the end of this year. The Senior Deputy Governor said by enhancing the country’s foreign reserves in this manner they have been able to cover up six months of imports. “Two or three years ago our foreign reserves were so low we were able to meet only about two weeks of imports.Being able to rescue the country from such a situation is indeed a great victory,” he added. July 26, 2010 Halt disparities, says PresidentPresident Mahinda Rajapaksa yesterday urged relevant authorities to act immediately to halt disparities in teacher deployment in order to maintain equity in resources in all schools whether it is urban or rural. The President made these observations addressing a gathering following the declaring open the Sri Lanka - Singapore Friendship College in Weeraketiya funded by the Singapore Red Cross Society and pioneered by the Singapore Sinhala Association. The President was of the opinion that the States efforts to deploy the required number of teachers equitably are being defeated by influential sectors including politicians who connive with teachers who dodge the responsibility of serving in schools not of their choice. “When I visit various areas I find that some areas have a surplus of teachers and certain others have a shortage. Also it has been brought to my notice that this anomaly is partly due to the fact that certain teachers have been released to work with politicians\influential figures and in Zonal Educational Offices”, President Rajapaksa observed. “Recently authorities said that there was a large shortage of teachers in the East and I sent the required numbers. But now they are telling again that there is a shortage. This is because some who were deployed earlier has got transferred themselves to other areas of their choice”, he said. The President said that it was time for relevant stakeholders to do an extensive study on the matter and come out with a balance teacher deployment mechanism in order to alleviate inequity in distribution. President Rajapaksa after vesting the facility with the public said that it was time to take clear and strict decisions to alleviate anomalies as the Government’s biggest investment was on education. He pointed out to the gathering that the people had given the Government a two thirds mandate in order to take straight forward decisions to benefit them and cautioned that the Government would not hesitate to take tough action against wrong doers. He said that all efforts were directed to arm the future generation with quality education and added that physical efforts at development would be to no avail without achieving a morally rich and educated society. According to Speaker Chamal Rajapaksa the newly built college with all facilities inclusive has the capacity to accommodate 1200 female students aged 13 to 18. It is also to be developed as a model school. The efforts are pioneered by the Singapore Sinhala Association with help from other relevant stakeholders of the area and is funded by the Singapore Red Cross Society. The modern structure and facilities built in accordance with the best practices has cost over US $ five million. The land for the School premises has been donated by Kondagala Raja Maha Viharaya Chief Incumbent, Ven. Narandeniye Deepananda Thera. Yesterday’s event was also addressed by Speaker Chamal Rajapaksa, Singapore Red Cross Society Chairman Tea Tua Bah and the President of the Singapore Sinhala Association Dr. Oliver Hennedi. First Lady Shiranthi Rajapaksa, Southern Province Governor Kumari Balasuriya, Ministers Mahinda Amaraweera, Mahinda Yapa Abeywardene, Namal Rajapaksa MP, V.K. Indika MP and Southern Province Chief Minister Shan Wijeyalal de Silva were also present. July 26, 2010 MDA takes media to next generationThe proposed Media Development Authority (MDA)would take the initiative in taking Sri Lanka media, media personnel and creative industries to the next generation, said Government Information Director – General Prof. Ariyaratna Atugala in a press statement released yesterday.
”As we transit into an innovation-fuelled society, the driving force in the next phase of our development will be the imaginative and creative capacity of our people. The new architects of the global media landscape are those who apply their imagination, creativity and knowledge to generate new ideas and create new values,” he added. ”The Media Development Authority improves media personnels’ quality of life and makes Sri Lanka more vibrant by stimulating awareness and demand for the arts, design and media products and services,” the statement further said. It continued: The MDA will play a vital role as an umbrella organization for all kinds of media in transforming Sri Lanka into a Trusted Global Capital for New Asia Media. MDA spearheads initiatives that promote industry growth in arts, film, television, radio, publishing, music, games, animation, Interactive Digital Media, Internet, Satellite, Cellular Mobile Services, software and IT services... etc. At the same time, in ensuring clear consistent and predictable regulatory policies and guidelines to protect core values and safeguard public interests. MDA helps to foster a pro-business environment for industry players through policy, process of registration and professional recognition while ensuring freedom of speech enshrined in the Constitution by;. * Upholding through communication the unity and integrity of the country and the values enshrined in the Constitution. * Ensuring that there is an increasing access to information for greater empowerment of citizens and towards socio-economic and socio-cultural development. * Formulate, promote and implement policies in a holistic manner ”MDA looks at media content production and related creative products as potential financial revenues for the national economy. Therefore MDA will intend to develop Sri Lanka’s media industries as a national strategy for future economic growth. ”The government does not intend to implement this on its own. It has already called for opinion and suggestion from media organization and media practitioners. The interested parties could submit their proposals to the Director General, Dept of Government Information, Colombo 5”. |
