Jan 5 (FT) MP Prof. Charitha Herath in a communique to the Minister Kanchana Wijesekara raised concerns regarding the proposed reforms to the country’s power sector. The MP, while noting that SL’s power sector has been undergoing substantial reforms since the early 2000s, said a robust evaluation of the proposed power sector reforms in SL is imperative and should encompass comprehensive studies, including more..

Jan 5 (DN) The Sri Lanka automobile sector is making great strides and over 108 types of locally assembled cars, including luxury vehicles, trucks, military vehicles, three wheelers and motorcycles are already playing on SL roads. “In addition the automobile component manufacturing industry too is gaining momentum and becoming a formidable FOREX earner as well,” said Secretary, Ministry of Industries Thilaka Jayasundara. Vega Innovations has manufactured luxury vehicles more..

Jan 5 (Island) Inland Revenue Department (IRD) officials recently told the Sectoral Oversight Committee on National Economic and Physical Plans that tax arrears amounted to Rs. 943 billion as at 30 June 2023. However, Rs. 767 billion could not be recovered due to various reasons, they said. The Department had recovered Rs. 37 billion rupees from tax arrears, they said. The IRD received tax reports before 30 Nov every year, the officials said. After receiving the tax report, more..

Jan 5 (DM) Public funds would only be utilised as the last resort to meet the recapitalisation requirements of the banking sector to ensure stability within the financial system, CB said. The need for recapitalisation would arise due to external debt restructuring, restructuring of foreign currency exposures of SOEs, bank diagnostic exercise, and forward-looking impact assessments. “We are confident that we can ensure more..

Jan 5 (FT) SL policy makers are debating on who is responsible for the economic crisis due to bad procurement contracts, inflated infrastructure projects and ISBs, while the Auditor General Report of 2022 has revealed that 67% of the foreign debt the Govt amassed between 2006 and 2021 are missing from Government assets. This revelation comes in the backdrop of the Supreme Court naming 13 people that included the former President, Finance Minister, CB Governor more..

Jan 5 (AD) All necessary data relevant to the reduction of electricity tariffs have already been provided to Public Utilities Commission of SL (PUCSL), State Minister Indika Anurudda said. He emphasized that preliminary measures are being taken to reduce the electricity tariffs before February. “PUCSL will study the data over the course of 20 days. Thus we believe that a tariff revision is possible before February. I cannot mention the percentage [by which the tariffs would be more..

Jan 5 (DM) SL's opening batsman, Pathum Nissanka, is set to miss the upcoming ODI series against Zimbabwe due to a suspected Dengue infection. The unforeseen setback has prompted the team management to consider the inclusion of the talented young cricketer, Shevon Daniel, as his replacement. 3-match ODI series, scheduled to commence tomorrow at R Premadasa Stadium, has taken an unexpected turn as SL faces the challenge of reshuffling their lineup in the absence of more..

Jan 5 (FT) The following is our response to the reply of Coomaraswamy, Coorey, and Devarajan (2023), hereafter referred to as CCD, to Nicholas and Nicholas (2023a and 2023b). In this response, we argue the following: First, that CCD’s reply is based on a continued adherence to a theoretical edifice, namely, the traditional quantity theory of money. CCD themselves admit that this theory has no credence with the central banks of the major advanced countries or academic community. more..

Jan 5 (AD) CID says it commenced an investigation into the preacher named Ruwan Gunaratna, who promoted mass suicide through his distorted teachings and later died by suicide. When CID officers presented submissions in this regard, Colombo Fort Magistrate’s Court also called for an investigation to determine if the deceased preacher had received funds from any organizations and how the money was spent. more..

Jan 5 (AD) State Minister of Indigenous Medicine, Sisira Jayakody announced that the govt has taken a significant step towards reducing healthcare costs by exempting Ayurvedic products, medicines and industries-related to indigenous medicine from VAT. Decision aims to make traditional medicine more accessible to the public, he explained. Additionally, State Minister mentioned that the cabinet has granted approval for the establishment of a special bureau dedicated to addressing issues more..

Jan 5 (CT) Despite spending Rs 43 million for the purchase of 26 communication systems, aimed at obtaining evidence from children subjected to abuse, negligence and cruelty, protecting their identity and lessening the trauma, this equipment remains unused to date. A senior official at Ministry of Justice, Prison Affairs, and Constitutional Reforms revealed that the ministry had earmarked funds for a project, facilitating the provision of children’s evidence through more..

Jan 5 (CT) The Sri Lanka Police yesterday inaugurated a 24-hour hotline, ‘109’ exclusively for reporting instances of abuse against children and women. This newly established unit, known as the Bureau for the Prevention of Abuse of Children and Women, operates under the auspices of the Police Children and Women’s Bureau. The public is strongly encouraged to lodge complaints and provide information, concerning instances more..

Jan 5 (EN) SL is to prevent the import of cut and processed tendu leaves, and prepare a formal legal framework to solve the problems related to the beedi industry. This was after a meeting held at the Presidential Secretariat Thursday to discuss concerns in the beedi industry, attended by State Minister for Finance Ranjith Siyambalapitiya, State Minister for Technology Kanaka Herath and Chief of Prez Staff Sagala Ratnayaka, and officials from relevant line agencies. more..

Jan 5 (CT) A cricket coach from a prominent school in Wattala was arrested by Mahabage Police yesterday for possessing a T56 firearm, four magazines and ammunition. This weapon haul is suspected to be connected to the underworld figure Ganemulla Sanjeewa. Suspect is believed to have collected drug money for an overseas criminal associated with Ganemulla Sanjeewa, transferring funds through the Undial system to smugglers abroad. Police operation to arrest suspect, more..

Jan 5 (AD) Colombo Fort Magistrate’s Court on Friday delivered an order barring the CEB trade unionists from entering the premises of several state institutions. As such, CEB trade union leader Ranjan Jayalal and several other unionists have been banned from entering the Prez Secretariat, Prez’s House, Finance Ministry and the Galle Face Green premises. Trade union members have been engaged in a series of protests since Jan 3, against the govt’s Bill to restructure CEB. more..

Jan 5 (DM) President of the Organisation of Relatives of the Disappeared During Military Conflicts, Sivanathan Jenita and a civil society activist were taken into custody this morning for organizing a protest against Prez Ranil Wickremesinghe’s visit to Vavuniya. Organisation of Relatives of the Disappeared had raised black flags and protested against the President’s visit to Vavuniya to attend a programme at the Vavuniya Cultural Hall. The arrest of the two organizers more..

Jan 5 (MB) Flying birds, running squirrels, hopping hares and snakes are species that frequent the tea estates in Akuressa in southern Sri Lanka. But an unusual heavy rustling and crawling sound of an animal disturbed a woman plucking tea, who let out a loud scream as she realized it was a giant crocodile next to her. She ran toward others, and the villagers caught this 15-foot-long giant after a difficult and risky operation. more..

Jan 5 (EN) The top economist of SL’s leftist alliance NPP has confirmed that a future NPP govt will not honour SL’s outstanding int'l sovereign bond (ISB) debt, according to opposition MP Harsha de Silva. “That a future JVP/NPP Gov will NOT honour #SL USD 12b ISB debt; first insinuated by their chief econ adviser Prof Anil J at @CeylonChamber now repeated clearly by their top economist Sunil Handunhetti goes to show these guys have absolutely no idea how to run a country,” more..

Jan 5 (TM) Victoria Dam in Kandy and the surrounding area is to be developed as a major tourist attraction according to a proposal by Prez Ranil Wickremesinghe. Victoria Dam, which is considered to be the largest in the country was built under the accelerated Mahaweli development project. The dam is named after Queen Victoria and was opened in 1985 by Prez J.R. Jayewardene and Former PM of the UK Margaret Thatcher. Accordingly, a statue of Queen Victoria more..

Jan 5 (SLN) In a major operation against drug trafficking, SL Navy intercepted a local multiday fishing trawler carrying narcotics, at sea about 28 nautical miles west of Hikkaduwa. Acting on coordinated intelligence efforts by the Navy, Police Narcotic Bureau and other intelligence services a Fast Attack Craft intercepted the suspicious fishing trawler. Upon being escorted to the Galle harbour this morning, more..

Jan 5 (AD) SL Police, together with STF, Army and Navy, have arrested 1,184 more suspects within the 24-hour window ending at 12:30 a.m. today. It is reported that 49 of the arrestees were sent to rehabilitation centres. The police have secured detention orders on 59 suspects for further interrogations. 337g of heroin, 242g of methamphetamine (‘Ice’), 1,221 intoxicating pills, 1.2kg of ‘Kush’, 6.62kg of cannabis and 7,772 cannabis plants were seized in latest raids more..

Jan 5 (EN) Sri Lankan authorities will build their capacity in handling foreign research vessels during the one-year temporary ban on such ships, but they are in a dilemma on responding to research ships which request for replenishments or crew change, govt sources said. Prez Ranil Wickremesinghe’s govt has temporarily halted foreign research ships after strong security concerns raised by neighbour India and the United States after the visit of two Chinese research vessels. more..

Jan 5 (CT) The public has been urged to inform the Police, through hotlines 118 and 119, about any religious cults that manipulate or coerce people into adopting specific faiths that may pose a threat to their lives. SSP Ruwan Gunasekara, clarified that, while the Police cannot legally intervene to dictate religious beliefs, they do have the authority to step in, if such incidents lead to loss of life and take necessary action within the framework of the law. Recently, a tragic incident unfolded more..

Jan 5 (DM) President Ranil Wickremesinghe is reported to be planning to prorogue Parliament on January 27 and address the nation through the House when it is convened for the newest session after the Independence Day celebration on February 4. An informed source said the President is contemplating on prorogation of the House for about ten days. A prorogation is a temporary recess of Parliament, and should not extend to a period of more than two months. more..

Jan 5 (DM) The first two teams from each group will qualify for the Super Eights, in which their starting position has already been arranged. Draw for the 2024 Twenty20 World Cup will include a second group stage in which the best teams already know their starting positions, it can be revealed. The ninth edition of the T20 World Cup will be played in the West Indies and USA in June and features 20 nations, who will initially be divided into four more..

Jan 5 (FT) Cinnamon Grand Colombo is set to tantalise the taste buds of Colombo’s meat lovers and grill aficionados with a unique dining experience at the iconic London Grill, featuring the renowned Dry-aged Steak Guy, Chef Azam Riyard. Event will take place from 10 to 21 Jan, showcasing Chef Azam’s expertise in dry-aged steaks. Chef Azam Riyard, Founder of Clubhouse Steakhouse in London, is a self-taught, old-Trinitian with a passion for creating exceptional culinary experiences. more..

Jan 5 (DM) The govt was considering establishing a special court complex within the judicial system to hear tax appeals in the backdrop that the appealing process allows any person to stay without paying taxes for 15 years. Minister Wijeyadasa Rajapakshe has agreed in this regard during a special meeting held in the Parliament to obtain ideas for the legal amendments to be made in order to increase the state revenue. Chair of the Sectoral Oversight Committee on National Economic and more..

Jan 5 (AD) During a discussion with professionals in Jaffna on Thursday, Prez Ranil Wickremesinghe outlined the trajectory of SL’s economic recovery after facing multiple setbacks in recent years. Addressing the audience, the Head of State acknowledged the challenges faced by the nation, citing the 2019 Easter Sunday terror attacks and the impact of the COVID-19 pandemic in 2020. He highlighted grim economic situation in 2022, more..

Jan 5 (Island) The ongoing countrywide drug bust known as the Operation Yukthiya has created serious social problems with many children being left without their parents due to indiscriminate arrests, Patali Champika Ranawaka, leader of URF says. “Police have arrested a large number of former and current drug addicts. Sometimes, both mother and father have been taken away. The operation has created a situation where boys join underworld gangs and girls take to prostitution. more..

Jan 5 (DM) Minister Tiran Alles said that steps will be taken to present the Online Safety Bill to Parliament on Jan 23. He said that international organizations, embassies and various groups are expressing opinions against the bill. "We are working to submit the Online Safety Bill proposal on Jan 23 without being influenced by external pressures," he said during his address at the launch event for a hotline and website dedicated to reporting crimes against women and children. more..

Jan 6 (DM) Cold War had just ended, and the bipolar global order had given way to a unipolar order led by the US. Euphoria in the West after its victory over the Soviet Union and its communist bloc was met by hopes springing from newly emerged democracies in Eastern Europe and Non-Aligned Movement (NAM), which had lost its raison d’ętre. Hope was that the US would lead by example and ensure a rule-based world order where human rights would be upheld and social & economic justice would prevail. more..

Jan 6 (DM) The govt has announced an allocation of Rs 450 billion from the 2024 budget to recapitalise the banking sector. However, there is a risk that under prevailing banking practices, this recapitalisation will predominantly benefit business owners with insolvent enterprises. This is because the higher capital levels will enable banks to avoid declaring insolvent firms bankrupt and instead, renegotiate and/or extend the terms of their loans. Insolvent firms that continue to operate more..

Jan 6 (CT) Prez Ranil Wickremesinghe, who spent a holiday out of the metropolis, returned to Colombo in the afternoon of 31 Dec. Upon arrival he continued to be immersed in his usual work and by the time he completed his day’s work, the New Year had dawned. In the afternoon, as UNP Leader, he had convened the UNP Management Committee to inquire into party activities. Among the top brass involved in more..

Jan 6 (CT) SL Police recently established a new unit called Bureau for the Prevention of Abuse of Children and Women, which operates under the Police Children and Women’s Bureau. Through the new unit the Police expect to diligently investigate crimes against children and women, including sexual violence, domestic violence, child insecurity, child labour and cruelty to children. Through its newly-launched 24-hour hotline and the email address the aggrieved parties are able to reach out to more..

Jan 6 (CT) In his New Year message, Prez Ranil Wickremesinghe has said, It is the responsibility of every Sri Lankan to contribute towards the resurgence of the nation in 2024. Almost in the same vein and not forming a part of the New Year greetings, he has also promised a 5% economic growth by 2026-27. GDP growth would exceed 8% after that and make SL a thriving nation. According to Wickremesinghe, who is also Finance Minister, govt’s revenue rose to LKR 3.1 trillion, more..

Jan 6 (CT) With the recent VAT increase in SL’s 2024 Budget, many local industries and enterprises are finding themselves in a precarious position, looking into a grim future with caution. While many businesses have already increased the prices of goods and commodities, thus burdening the public to almost breaking point, a considerable number of medical professionals, entrepreneurs, business owners and even taxi drivers are more..