Jan 1 (EN) Prez Ranil Wickremesinghe has Minister of Finance has removed a border tax called the Ports and Airport Levy from imported diesel, petrol, liquefied petroleum gas and chemical fertilizer, according to a gazette notice. SL is bringing more items under value added tax from Jan 1, 2024, as part of reforms to boost the tax system. With value added taxes being charged on fuel, petrol, diesel and LPG prices were hiked from January 01. The PAL is being lifted from January 1. more..

Jan 1 (HT) Prez Ranil Wickremesinghe has Minister of Finance has removed a border tax called the Ports and Airport Levy from imported diesel, petrol, liquefied petroleum gas and chemical fertilizer, according to a gazette notice. SL is bringing more items under value added tax from Jan 1, 2024, as part of reforms to boost the tax system. With value added taxes being charged on fuel, petrol, diesel & LPG prices were hiked from Jan 1. more..

Jan 1 (AD) Ministerial Sub-Committee for Cricket has handed over its report to Prez Ranil Wickremesinghe at the Presidential Secretariat. Head of State said he intends to implement the recommendations of the report and that both, report and the new draft Sports Bill is slated be presented to the Parliament shortly. On 6 Nov 2023, Prez appointed a four-member committee, chaired by Minister Ali Sabry, and comprising of Ministers Tiran Alles, Manusha Nanayakkara & Kanchana more..

Jan 1 (EN) Tax revenues for 2023 have been revised up to 2,752 billion rupees, with economic activity picking up and results of broadening the tax base and reforms bringing results, State Minister Shehan Semasinghe said. A budget for 2024 presented in November, estimated tax revenues at 2,596 billion rupees, and total revenues and grants at 2,851 billion rupees. Total revenues and grants have been revised up to over 3,100 billion rupees with non-tax revenues and grants estimated at Rs. 363 bil more..

Jan 1 (Island) A police sergeant was killed and a sub inspector injured during a shooting incident near a hotel at Weligama yesterday. It was claimed by local police that a soldier had fired at a van used by the Colombo Crime Division (CCD) for its operations. The deceased has been identified as Sergeant Upul Kumara (46) a resident of Galewela. CCD team, comprising eight men and officers, had gone to Weligama to conduct a raid on more..

Jan 1 (FT) The first ever Ceylon Literary and Arts Festival is set to take place from 8 to 12 Feb 2024 in the heritage city of Kandy and the capital city Colombo. The festival will showcase Sri Lanka’s creative sectors both locally and internationally, and look to encourage dialogue, initiate exchange of ideas, and create collaborative opportunities. HSBC, as the title sponsor, is committed to enable international exposure and recognition for art and culture in Sri Lanka. more..

Jan 1 (Island) JVP-led NPP leader Anura Kumara Dissanayake said on Saturday that post-Independent Sri Lanka was led astray by politicians playing the ethnic card to muster votes. Addressing the NPP Women’s Convention in Matara, Dissanayake said: “We have no other option but to rise as a single nation. We never had a national movement comprising all communities thinking as a single nation. Prior to its Independence India had a very strong national movement. more..

Jan 1 (FT) SL is about to lose one of its largest industries. This is an industry that contributed around 9.6% to the GDP and involves nearly 2.6 million stakeholders directly and indirectly. It is none other than the SL construction industry. At present, the industry has shrunk by 60%. Over 500,000 employees have been retrenched and over 10, 000 professionals have left the county. Govt has kindly appointed a task force to counteract this issue. All stakeholders contributed to this cause more..

Jan 1 (CT) An urgent and comprehensive report was ordered by Health Minister Ramesh Pathirana into the death of a woman who allegedly succumbed to respiratory hypoxia following a surgical procedure at the National Hospital Colombo. Incident has generated controversy, with the deceased’s relatives asserting that a mix-up with Oxygen and Carbon Dioxide cylinders led to her demise. Nuala Thevathasan (61) had been admitted to ward No. 6A of NHSL for breast-related surgical more..

Jan 1 (CT) With the dawn of the new year, a staggering rise in VAT takes effect as of today (1), triggering a notable upswing in the prices of an extensive array of goods and services. This includes passenger transport bus fares, three-wheeler fares, telecom service charges, mobile phone prices, animal food prices, hospital room charges, domestic gas cylinder prices, petrol prices, auto diesel prices and prices of snacks, more..

Jan 1 (DM) Like last year, the New Year 2024 will be one with long holidays, since most Public holidays will fall either on Fridays or Mondays. There will be around 10 long weekends this year as well starting from January as Thai Pongal on Jan 15 falls on a Monday. Full Moon Poya in February falls on a Friday. Maha Shivaratri and Good Friday falls on Fridays. Sinhala Tamil New Year this year also falls on Thursday and Friday, Vesak Poya falls on a Friday this year, more..

Jan 1 (EN) Sri Lanka’s imports fell in November 2023 to US$ 1,389 million from 1,610 million a month earlier amid lower incomes from remittances, official data showed. SL’s trade deficit also narrowed to US$ 390 million in November from US$ 683 million in October. SL has a trade deficit because residents earn large volumes of dollars outside of the merchandise trade account, including through remittances, other services exports and tourism, which when spent triggers imports. more..

Jan 1 (TM) Disaster Management Centre (DMC) is well-equipped to communicate tsunami early warnings to the public within one-and-a-half hours of an earthquake, it assured yesterday (30). DMC Director General S. Ranasinghe gave this assurance in response to a query about whether the centre lacked nearly Rs. 200 million to renovate around 50 tsunami early warning towers situated in coastal areas. more..

Jan 1 (DN) Govt revenue has surpassed three trillion rupees in 2023 for the first time in the history of the country. Govt managed to earn Rs.3,115 billion in 2023, Prez’s Office State Revenue Unit Director General M.J. Gunasiri said. This is the first time that the total revenue of the govt has exceeded three trillion rupees. In addition to this, the Director General also said that Govt’s tax revenues have been able to meet the expenses other than the interest expenses from more..

Jan 1 (DM) National Transport Commission (NTC) today announced that there will be no bus fare revision due to the increase in the VAT. A litre of Lanka Auto Diesel (Rs. 329) has been increased by Rs. 29, and its new retail price will be Rs. 358. According to the increase in the retail price of a litre of Lanka Auto Diesel by Rs. 29, and according to the National Bus Fare Policy, bus fare revision will have to be by 2.01%. Therefore, the NTC announced that they have decided not to increase more..

Jan 1 (DM) SL Customs has made its highest revenue generation in history, a recorded Rs.970 billion last year with only 990 staffers in hand and with restrictions on highest income on imports of automobiles still in place. This was 109% of the amended revenue targets given to them by the Ministry of Finance, which was Rs.893 billion. The original revenue target set for the SL Customs in the beginning of 2023 was at Rs.1,217 billion but owing to the unstable economic situation prevailing more..

Jan 1 (LM) Sri Lanka has imposed a one-year ban on Chinese research vessels in its Exclusive Economic Zone (EEZ), according to a report. India has been raising concerns about these vessels with Sri Lanka for some time now, amid speculation that they are used to track Indian military tests and survey strategically important waters. In July, PM Narendra Modi had urged SL President Ranil Wickremesinghe to respect Indian strategic and security concerns. more..

Jan 1 (CT) The prevailing inclement weather has wreaked havoc across a few districts, affecting a total of 5,900 families comprising 19,015 members in three districts. One person is reported missing from the Welikanda DS Division in the Polonnaruwa District, as stated by DMC on 31 Dec 2024. “Due to the adverse weather nearly 350 families comprising 1,094 members have been affected in the Polonnaruwa District. more..

Jan 1 (TM) The Ceylon Principals’ Union (CPU) last week claimed that many instances of malpractices have been reported in appointing principals to schools which are under the purview of provincial councils (PC). CPU General Secretary Piyasiri Fernando said that many appointments have been done without a proper assessment, and many principals have been appointed to schools which are so far away that many were not even able to reach them regularly. He also charged that more..

Jan 1 (TM) The CEB is waiting for a clarification from relevant institutions including the Ministry of Finance, Economic Stabilisation, and National Policies and the Treasury as to whether the value-added tax (VAT) rate increase to be implemented from today (1) will have any impact on electricity tariffs, The Daily Morning learns. The Government, amidst strong criticism, has increased the VAT rate from 15% to 18% – by 3% – through Budget 2024, with effect from today. more..

Jan 1 (Island) Dissident SLPP MP Prof. Channa Jayasumana said that a well-coordinated joint Opposition campaign was needed against the destructive economic policies of Wickremesinghe-Rajapaksa govt. Jayasumana said the Opposition should respond to the impending crisis caused by the increase of VAT from 15% 18% and imposition of 18% VAT on nearly 100 items that hadn’t been subjected to VAT before. more..

Jan 1 (FT) Little Hearts Project of the Lady Ridgeway Hospital for Children revealed it has received a generous donation of Rs. 1 billion from senior business leader Nahil Wijesuriya. The magnanimous support is through Agnes Wijesuriya Childrens’ and Elders’ Home. Speaking of the donation, Lady Ridgeway Hospital for Children Consultant Paediatric Cardiologist Dr. Duminda Samarasinghe said, “These funds will be mainly utilised for installation of the already delayed more..

Jan 1 (TM) A special programme has been launched by the Ministry of Agriculture to increase the annual production of coconuts by one billion nuts in the next three years to make the total production of coconuts five billion. Minister Mahinda Amaraweera said that a special programme had been launched to increase the local coconut production by the said number during the course of the next three years. Ministry’s Media Director Dharma Wanninayake said that it had been planned to increase more..

Jan 2 (DM) In spite of various leaders of the govt painting a rosy picture about the recovery of the economy from the current crisis and the innocent hopes of the people of the country that the humble normalcy in their life would return very soon, Dept of Census and Statistics had shown last week a bleak picture of the country at present and in the future. Dept had shown the real side of the lives of the people which has been concealed in a false esteem maintained by each individual in society, more..

Jan 2 (Island) The New Year dawned, not with the customary spirit of hope, but with trepidation for most and hopelessness for many. The main topic of discussion and speculation over the past several weeks has been the impact of VAT of 18% which will be extended to nearly all items barring only a few. The anticipated price rises could have a serious impact on those whose incomes can no longer sustain the lifestyle they once enjoyed. The increases in prices will make a bad situation more..

Jan 2 (DM) In the early 2022, when the entire country was going through a hell without essential goods, days long queues to buy fuel and gas and there was no food, 43-year-old Nisthana Coorey (real name withheld) decided to leave the country for good. An agent introduced by a friend promised him a job in Thailand, and it was to be the post of a sales officer. Having worked in the tourism industry for a long time, Coorey was glad that he could more..

Jan 2 (CT) As 2024 has dawned, many Sri Lankans domiciled in Lanka and overseas will undoubtedly reflect on the kind of society and system required for a better Lanka in the coming years. This is especially so given the economic meltdown that took place in the country leading to aragalaya and the imposition of restrictions on public protests and expression of dissent by the govt. Since then the IMF prescriptions to help the country to get out of the economic crisis have become clear. more..

Jan 2 (DM) Given the sluggish recovery of the Chinese economy post-COVID, and the increasingly challenging international environment, China’s President Xi Jinping has assumed a tough foreign policy stance, centralizing decision-making in institutions he personally heads. Perhaps he considers 2024 to be ideal for decisive and assertive posturing given that it is the Year of the Dragon which is said to bring luck, good fortune and prosperity. more..

Jan 2 (CT) As we stand at the threshold of a New Year, the customary anticipation for fresh beginnings, renewed hope and ambitious expectations pervades the air. However, in Sri Lanka, a nation grappling with persistent challenges and economic crises, the reservoir of hope seems to be depleting rapidly. Ceylon Today ventured onto the streets this week to engage with the public, seeking their perspectives on more..

Jan 2 (CT) In a stunning display of fiscal prowess, National Water Supply and Drainage Board (NWSDB) has managed to turn a three billion rupees loss into a magical feat of generosity. The loss-making entity had distributed a grand sum of Rs 269 million like confetti in incentives for the year 2022. Despite the operational manual issued by the Dept of Public Enterprises, dated 17 Nov 2021, categorically stating that bonuses and incentives should be doled out only after channelling more..

Jan 2 (TM) SL’s recent decision to enact a moratorium on foreign marine scientific research (MSR) vessel visits to the strategically placed island nation in the Indian Ocean Region (IOR), is a short-term solution to what will eventually become a bigger headache in the coming years. The moratorium essentially buys SL some breathing space to navigate around geopolitical rivalry and diplomatic pressure during 2024, which is a crucial year for SL, in terms of economic & political stability, more..

Jan 2 (DM) Looking at the sector-wise performance of the non-financial corporates (NFCs), the hotel sector recorded the highest revenue growth for the first nine months ending in Sept 2023, CB said. For the period under review, the hotel sector saw revenue expand by 39.2%. The latest Financial Stability Review released by the financial sector regulator recently attributed the revenue growth to tourist arrivals. Tourist arrivals to the island nation exceeded 1 million from Jan to Sep 2023, more..

Jan 2 (Island) A new year has dawned, and a nightmare is unfolding for the public. It is a case of the people’s worst fears being realised. The implementation of the enhanced VAT (Value Added Tax) regime has had the same effect as a dam burst, in a manner of speaking. People are struggling to keep their heads above water. Traders have jacked up prices according to their whims and fancies. They are guided by Rafferty’s rules, as usual. Regulators seem fast asleep maybe due to more..

Jan 2 (FT) President Ranil Wickremesinghe yesterday underscored that decisive actions would lead Sri Lanka to rapid economic growth this year. Despite facing criticism for these challenging decisions, he emphasised that they were undertaken in the best interest of the country. The Prez expressed his hope for unity in the New Year, urging collaboration among political parties to fulfil their collective responsibility more..

Jan 2 (ST) As SL’s newest Bribery Commission cracks its shell with more than a smidgen of difficulty in the backdrop of ugly strain between its metaphorical parents, Constitutional Council and Prez Ranil Wickremesinghe, circumstances can hardly be less propitious for this fledgling creature to survive, let alone thrive. Commission is established under a law which the President once airily promised, ‘would be the best in South Asia’ regardless of all the lessons that history more..

Jan 2 (ST) Govt’s decision to go ahead with the Ratmalana Railway Diesel Power-set factory project to improve railway efficiency without modernising the 87 -year-old existing workshop complex, has triggered protests from over 2000 workers. The move, using ADB funds, could result in neglecting the Ratmalana Railway workshop complex, which consists of 34 huge factories established during British rule in 1936 in a 34-acre land and considered as one of the biggest resources in Asia, more..