Oct 18 (FT) The country’s premier private sector lobby group, the Ceylon Chamber of Commerce, yesterday urged the Govt to accelerate reforms and ensure greater accountability of its spending to complement the proposed tax hike. Ceylon Chamber’s stand comes hot on the heels of growing opposition to the Govt’s move to double corporate income tax to 30% amidst other hikes. CCC said it acknowledges more..

Oct 18 (DM) With the price of petrol brought down, it will lead to huge traffic congestion on the roads from tomorrow, Lanka Private Bus Owners' Association (LPBOA) Chairman Gemunu Wijerathne said. Addressing the media, he said the present govt has not come on the right track. If petrol prices are reduced, people will try to use alternative modes of transportation such as cars and motorcycles again. Therefore, the roads will be congested with heavy traffic. This will be a huge issue. more..

Oct 18 (DM) Supreme Court has ordered the State and a Deputy Principal attached to a govt school in Matale to pay a compensation of Rs.200,000 to two students for causing injuries by severely caning them, violating their fundamental rights guaranteed under the constitution. SC held that Deputy Principal acting under the colour of office, had clearly exceeded his powers as a disciplinarian and subjected the two students to cruel, inhuman and degrading treatment or punishment more..

Oct 18 (USE) To support the urgent medical needs of Sri Lankans throughout the country, Ambassador Julie Chung participated today in the donation of medical equipment from the U.S. Department of Defense to the Ministry of Health at the Base Hospital in Panadura after meeting with Minister Keheliya Rambukwella. The equipment, which will enhance medical services of hospitals and clinics throughout the country, includes ECG machines, multipara monitors, defibrillator, more..

Oct 18 (FT) The Outstanding Govt debt has surpassed the Rs. 24 trillion mark in May as per provisional data released by the Central Bank last week. As at the end of April, debt stood at Rs. 23.3 trillion and a year ago (May 2021), it amounted to Rs. 17.58 trillion. The year on year increase is 36.8% or Rs. 6.47 trillion. Provisional data for May has been pending for three months after the April figure was first announced in early July. Of Rs. 24 trillion debt, total outstanding domestic debt more..

Oct 18 (BBC) The Seven Moons of Maali Almeida by Shehan Karunatilaka, a supernatural satire set amid a murderous SL civil war, has won the Booker Prize. SL writer's novel is about a photographer who wakes up dead, with a week to ask his friends to find his photos and expose the brutality of war. Camilla, the Queen Consort, presented the prize, and the author said it had been an honour and a privilege to be on the shortlist. more..

Oct 18 (DM) The CID has arrested the business partner of the owner of Thico Group Private Ltd Thilini Priyamali in connection with alleged financial fraud. Police said the CID summoned the suspect, Isuru Bandara to record a statement over alleged financial fraud. He was arrested after recording a 9-hour-long statement on Monday (17). It was reported that the suspect maintained close relations with Thilini Priyamali. The suspect was reported to have worked as a secretary to a minister earlier. more..

Oct 18 (AD) First Reading of the Appropriation Bill for the year 2023 is scheduled to be presented to the parliament today. This was decided at the Committee on Parliamentary Business held previously under the chairmanship of Speaker of Parliament Mahinda Yapa Abeywardana. From Oct 18th to 21st time is allotted from 9.30 am to 10.30 for Questions and Oral Answers. Meanwhile it was decided to hold the debate on the Second Reading of the Petroleum Products Bill from 10.30 am more..

Oct 18 (JN) Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping SL cope with its so-called debt traps, which arose after China provided huge loans to the country to fund infrastructure developments & other projects. more..

Oct 18 (FT) Exigencies in domestic and global markets produced runaway inflation in SL, and unprecedented price hikes have heaped significant burdens on a weary public. The World Food Program reports over six million Sri Lankans are now food insecure, with the situation likely to further deteriorate. As the Govt grapples with severe measures to defuse this crisis of its own making, the President promises sweeping changes to restore stability. The way out of this crisis plots more..

Oct 18 (Island) Minister and Deputy Head of Mission, Embassy of Japan Katsuki Kotaro launched a Sewing and Training Centre with Minister of Labour and Foreign Employment in Galle on Saturday. The Embassy said: The Sewing & Training Centre opened through the support by the Govt of Japan with approximately 1.7 million USD and jointly implemented by IOM under the The Project for Supporting the Socioeconomic Reintegration of SL Migrant Workers Repatriated due to more..

Oct 18 (AD) Prof. Charitha Herath, former chairman of the COPE has been nominated as a member of the new committee. The nomination was made by the Committee of Selection on October 07, in terms of the provisions of the Standing Order 127(3) of the parliament to fill the vacancy that occurred by the resignation of SJB MP Dr. Harsha de Silva from the members of COPE. This was conveyed by Deputy Speaker Ajith Rajapakse at the commencement of today’s parliamentary session. more..

Oct 18 (NR) The Second Reading of the Petroleum Products (Special Provisions) (Amendment) Bill has been passed in Parliament by a majority. 77 MPs voted in favour of the BIll while 17 MPs votes were cast against. The debate on the Second Reading of the Petroleum Products (Special Provisions) (Amendment) Bill was held from 10.30am to 5pm today in Parliament. Minister Kanchana Wijesekera said the passing of the Bill will allow global suppliers to enter as retail operators. more..

Oct 18 (CI) Sri Lanka dominated the first 14 overs with the bat, stumbled dramatically against legspinner Karthik Meiyappan, who bagged a hat-trick, and then recovered sufficiently to post 152 for 8. This was thanks largely to Pathum Nissanka's 74 off 60 balls. Although SL's was merely a competitive rather than commanding total, their bowlers defended the total zealously, the quicks eviscerating UAE's top order, before more..

Oct 18 (TM) Govt will have to opt for a haircut on domestic debt if taxes are not raised to achieve debt sustainability as per the requirements of the IMF, stated CCC Vice Chairman Duminda Hulangamuwa. He said that Sri Lanka would have to opt for a haircut on domestic debt to achieve debt sustainability, if it wants to avoid tax hikes. “We will have to go for a local (domestic debt) haircut if we do not increase the taxes,” he said, adding that the Government had to opt for increasing taxes, more..

Oct 18 (FT) Walking into a creditor meeting without an actionable growth plan is like diving into a quagmire. SL needs a plan and a drastic one that can jump-start the economy. If you go to Israel, now the leading innovation hub, everybody has a deck. Just to explain, a deck is a business plan presentation. Does the SL Govt have a growth plan based on startups and innovations? If you look at the US, Silicon Valley pretty much generated most of growth area & they were not backed by govt. more..

Oct 18 (TM) While mothers and relatives of missing persons protested outside the UN office in Colombo yesterday, Office on Missing Persons (OMP) Chairman Attorney Mahesh Katulanda accused TNA MPs and members of hindering the sittings conducted by OMP officials in Batticaloa on 15 Oct, claiming that this was an attempt to thwart the process of reconciliation. Katulanda noted that the protest staged more..

Oct 18 (EN) CEB anticipates a loss of 152 billion rupees in the next four months despite electricity tariff reforms that were implemented in August, Minister of Power & Energy Kanchana Wijesekera said. In the first eight months of 2022, the CEB has incurred a loss of 108.6 billion rupees, minister told parliament. Explaining the reasons for the long-running losses of the CEB, the minister said a delay in imposing cost-reflective pricing is the main reason for the utility provider to make losses. more..

Oct 18 (CT) PHU Leader, MP Udaya Gammanpila urged Minister Wijeyadasa Rajapakshe to repeal the rule that law students must take their exams in English rather than their preferred languages, Sinhala or Tamil. He claimed that a former Justice Minister brought a regulation to take away students’ right to write Law College exams in their mother tongue, despite the fact that proceedings in Magistrate’s Courts, District Courts, and High Courts throughout SL are conducted in either more..

Oct 18 (AD) Cabinet has given the approval to increase the govt’s credit limit by Rs. 663 billion, Minister Bandula Gunawardane says. Prez Ranil Wickremesinghe tabled the proposal to the Cabinet of Ministers yesterday, in his capacity as the Minister of Finance, Economic Stabilization and National Policies. For the year 2022, the credit limit approved by the parliament was Rs. 3,844 billion, however, it was decided to increase the limit by Rs. 663 billion taking into account the urgency of payments more..

Oct 18 (CT) SL’s monthly official poverty line (OPL) increased for the sixteenth consecutive month to Aug 2022, increasing by 2.45% (Rs 322) to Rs 13,460 month-on-month (Aug 2022 over July 2022). In the previous month (July), this monthly figure (OPL) was Rs 13,138. In the 16-month period beginning from April 2021 to Aug 2022, SL’s OPL has increased by over twofold or by more than 150% (Rs 8,297) to Rs 13,460 led by a depreciated rupee, fuel shortages, scarred harvests and more..

Oct 18 (TOI) Any security threat to India is also a security threat to Sri Lanka, SL high commissioner Milinda Moragoda told ToI as he sought to reassure the Indian govt that in line with their bilateral agreement and understanding, the island nation won’t allow its ports to be used by a foreign country in any manner that is prejudicial to India’s interests. Describing India as the key to sustainable economic recovery of debt-ridden Sri Lanka, more..

Oct 18 (DM) Minister Susil Premajayantha said that a national-level university will be established to produce teachers. Minister revealed this during a discussion with the ministry officials at the Ministry. "We had many requests to bring colleges to the uni level and preliminary discussion regarding the issue has been completed," he said. "It has been advised to draft that information along with the Cabinet Memorandum. We are creating national-level universities for the teaching profession. more..

Oct 18 (AD) Dialog Axiata PLC, SL’s premier connecitivty provider, announced the appointment of Dr Sharmini Coorey as an Independent, Non-executive Director on the Board, with effect from 15 October 2022. Dr. Sharmini Coorey is a former senior official of the International Monetary Fund (IMF) and currently a member of the Presidential Advisory Group on Multilateral Engagement and Debt Sustainability advising the Govt of Sri Lanka during the economic crisis. more..

Oct 18 (TM) PHU Leader and Independent MP Udaya Gammanpila, while claiming that former Norwegian Minister Erik Solheim, who was recently appointed Prez Ranil Wickremesinghe’s Int'l Advisor on Climate Change, has no knowledge in such, charged that Solheim’s real duty is to co-ordinate between the separatists and the Govt. He said that Solheim was appointed Head of UNEP at the request of Norway, more..

Oct 18 (TM) The decision by the Govt to tax anyone with a monthly income of about Rs. 100,000 should be revisited and the lower tax threshold should be increased as inflation has reduced the value of money, says Uni of Colombo Economic Prof. Priyanga Dunusinghe. He also questioned the mechanism that has been or will be put in place to identify individuals with a monthly income of Rs. 100,000 or more. “State sector and private sector officials who earn over Rs. 100,000 a month more..

Oct 18 (AD) Cabinet of Ministers has approved the recommendation to extend the retirement age of doctors, Minister Bandula Gunawardena says. Accordingly, the doctors aged 60, 61 and 62 years by the year’s end will be allowed to serve until 61, 62 and 63, respectively. Minister stated that doctors who are 59 years should, however, retire by the age of 60. The retirement age of doctors was at 63 years when former Health Minister Rajitha Senaratne was in office. However, it has been now revised more..

Oct 18 (EN) Sri Lanka is looking to increase the fuel quota for commercially run threewheelers in the next two weeks from the current five-litre allocation, Minister Kanchana Wijesekara said. There are 11 million threewheelers registered at the Motor Vehicle Dept and the government is not able to increase fuel quota for all of them, the minister told parliament. “We have given permission to provincial offices to identify [commercial] threewheeler taxis in their respective area,” more..

Oct 18 (EN) SL is to present an Appropriation Bill to parliament detailing allocations for ministries and departments as the first step to presenting a budget for 2023 next month. The Appropriation Bill which is to be tabled in parliament has allocated 613 billion rupees to the Finance Ministry which includes debt service costs. Ministry of Defence has been allocated 410 billion rupees, with the army getting 209 billion rupees, Navy 75 billion rupees and Air Force 66 billion rupees and more..

Oct 18 (SLN) SL Navy’s Auxiliary Ship A 521 on a dedicated search and rescue mission, this afternoon re-established communication links with the naval craft with which the Navy had no means of connection for about a month, since Sept 17th, when it was on a special surveillance operation off the southern coast. After communication with the craft was lost, a dedicated search and rescue operation was launched from 26th Sept by more..

Oct 18 (EN) On the heels of a tough new UNHRC resolution, cabinet of ministers has approved a proposal to appoint a cabinet subcommittee on reconciliation chaired by the Prez. A statement from the govt information department said that the proposal, made by Prez Wickremesinghe, seeks to promote reconciliation between the “various sections of the population in SL and to propose solutions to the problems faced by the people regarding resettlement, land and missing persons after more..

Oct 18 (AD) Supreme Court today granted permission to amend the Fundamental Rights petitions filed by three individuals including IUSF convenor, Wasantha Mudalige seeking an order declaring their arrest and detention under the PTA as illegal. The petitions were taken up today before a 3-member SC bench consisting of Justices S. Thurairaja, Shiran Gooneratne and Mahinda Samayawardene. President’s Counsel Upul Jayasuriya, who appeared on behalf of more..

Oct 18 (Reuters) Sri Lanka approved legislation today to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades. The island of 22 million people is caught in the throes of a severe foreign exchange shortage that has left it struggling to import sufficient essentials including medicine, fertiliser and food. But one of the biggest challenges has been more..

Oct 18 (PTI) SL author Shehan Karunatilaka, whose supernatural satire set amid the island nation's brutal civil war won the Booker Prize, has expressed hope that his crisis-hit country will soon learn from its stories and understand that the ideas of corruption, race baiting and cronyism have not worked and will never work. Karunatilaka's novel The Seven Moons of Maali Almeida is about a photographer who wakes up dead, with a week to ask his friends to find his photos and expose the brutality of war. more..

Oct 18 (AD) Cabinet of ministers has approved recognizing the People’s Assembly or Jana Sabha concept as a fundamental policy and the establishment of a National Jana Sabha Secretariat for implementing the system, in order to strengthen participatory democracy. National Movement for a Just Society has presented a concept paper on People’s Council System with an independent institutional structure where public participation can be ensured for formulation of public policies more..