Business
Litro Gas receives ISO 45001: 2018 for Occupational Health and Safety
Litro Gas has always been conscious of their national responsibility as the country’s industry leader in the LPG sector. For the company, safety and health are key elements that are prioritized across its multi-channel operation. This gives further impetus to its unique positioning as a state owned entity which has strong partnership with the private sector channel partners.
In recognition of its outstanding commitment to occupational health & safety, Litro Gas was recently awarded ISO 45001: 2018 by the International Organization for Standardization of Geneva, Switzerland. This affirms compliance with the globally ratified occupational health and safety management systems recognized as the industry standard worldwide.
In 2018, Litro Gas was awarded the ISO 14001 and OHSAS 18001 certification for its effective Health, Safety and Environment (HSE) management system.
“Safety forms the cornerstone of our entire operation”, says Anil Koswatte, Chairman and CEO of Litro Gas Lanka Ltd. and Litro Gas Terminal Lanka (Pvt) Ltd. “We uphold the highest quality standards across all our systems which is paramount to what we do. Safety in fact forms the very core of our operations, ensuring a seamless delivery of quality to our consumers.”
Litro Gas believes that their newest standards affirmation reinforces the Company’s consistent processes of ensuring industry specific and globally accepted Health, Safety and Environment (HSE) management systems that assure the safety of its employees, customers and the entire community.
“We have in place a world-class risk assessment control system that assures the safeguarding of our people, the environment, our assets and the interests of our stakeholders. With ISO 45001:2018, we have enhanced this process, adding more value to our business”, he adds.
Commenting on the award, Mr. Jayantha Basnayake, Director – Health, Safety & Environment at Litro Gas says that this recognition reiterates the safety protocols deployed by the Company in meeting the highest possible safety and health standards. “Operating as we do in the energy sector, safety and health are considered key elements. The LPG industry is based on observing multi standard procedures that are implemented under stringent guidelines set by global and local LPG industry standards and practices and governing laws.”
Having been recently feted with the SLS 1672:2020 COVID-19 safety compliant standards by the Sri Lanka Standards Institution, Litro Gas upholds the unique level of service delivered seamlessly to customers through the pandemic, says Basnayake. “We understand the importance of managing our operations to meet the highest possible standards while ensuring a sustainable presence within the wider social and environmental context. The Company constantly focuses on continually training all the channel members, bulk and commercial customers on LPG related safety rules, regulations and processes”, he adds.
In recognition of its exceptional commitment towards maintaining optimum health, safety and environment systems, Litro Gas became the first Company in the Oil and Gas sector to be feted with the All island Overall Excellence Bronze Award at the National Occupational Safety and Health Excellence Awards, 2018.
Litro Gas operates one of Asia’s leading and most efficient LPG storage facilities at Kerawalapitiya and Hambantota. An island-wide network of 37 distributors, approximately 1,500 home delivery hubs and 11,000 points-of-sale locations power the Company’s reach throughout the country.
Litro Gas leads the LPG market in Sri Lanka with a 75% market share and a turnover of Rs. 45 billion. The majority of shares in Litro Gas are owned by the General Treasury through the Sri Lanka Insurance Corporation, yet Litro Gas is managed as a unique corporate enterprise, making the Company an exceptional entity in the business world.
The Company views the ISO certification as a key component in their drive towards creating greater significance and sustainability. “Sustainability is a crucial factor that drives every aspect of our operation – it adds value to our supply chain, our stakeholders, our employees, our key stakeholders and the community at large.” Basnayake says in conclusion.
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SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.
The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.
Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.
SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce
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by Sanath Nanayakkare
Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.
“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.
“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.
“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.
“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.
The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.
The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’
Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.
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By Hiran H.Senewiratne
CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.
The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said.
It is said the banking sector dominated turnover with a contribution of considerable parcel trades in Sampath Bank, Commercial Bank and HNB.
Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.
Further, Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.
Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions.
During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.
Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.
