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Four new justices of the Supreme Court were sworn in before President Anura Kumara Dissanayake at the President's office this morning.

The newly appointed justices are Sobhitha Rajakaruna, Menaka Wijesundara, Sampath B. Abeykoon, and M.S.K.B Wijeratne, all of whom were previously serving as justices of the Court of Appeal.

The economy is, slowly but surely, on the path to collapse once again, said SJB MP Rohini Kavirathna in a statement.

She said the current account had a balance of 432 million US dollars in the second quarter of 2024 , but it dropped to 303 million USD by the following quarter.

She cited failures in governance and economic management as the reasons for this decline.

The previous regime was able to keep the current account balance on a positive note even while repaying loans and interest to multilateral lenders.

But, that has reversed within 100 days of the present regime, said Kavirathna, adding that all spheres of society are now heavily burdened with taxes.

The resultant pressure will be felt strongly by April, added the MP.

The government has announced the import tax percentages applicable to vehicles imported from February onwards through a special gazette notification.

Accordingly, excise duties ranging from 200% to 300% have been imposed on vehicles. The gazette, issued by the Minister of Finance, who is also the President, outlines that certain categories of vehicles will be taxed based on their engine cylinder capacities and motor power measured in kilowatts.

“Vehicle prices are expected to increase by around 20% due to these taxes. If other taxes, including VAT, are also applied, the increase could be even higher,” said Indika Sampath Merenchige, President of the Vehicle Importers Association of Lanka.

Full Gazette:

NPP Member of Parliament Dr. Nishantha Samaraweera has been unanimously elected as the Chairman of the Committee on Public Enterprises (COPE).

The Committee on Public Enterprises has convened in Parliament today (09) at 2 p.m.

The government has announced plans to open several archaeological sites to tourists at night.

Deputy Minister of Buddhasasana, Religious, and Cultural Affairs, Gamagedara Dissanayake, revealed that Sigiriya, a UNESCO World Heritage site, will be the first location to offer nighttime access to both local and foreign visitors.

He added that discussions are ongoing, and public opinions are being gathered on the matter.

Two newly appointed Court of Appeal Justices were formally sworn in before President Anura Kumara Dissanayake this morning (Jan 09).

According to the President’s Media Division (PMD), the appointments were conferred upon Attorneys-at-Law Mr. K.M.S. Dissanayake and Mr. R.P. Hettiarachchi.

The two newly appointed Court of Appeal Justices took their oaths in the presence of the President at the Presidential Secretariat.

The government has decided to reinstate the pension increase process, which was abolished by the administration of former President Gotabaya Rajapaksa in 2020.

Deputy Minister of Labour Mahinda Jayasinghe said that the pension increase will apply to government employees who retired between January 1, 2016, and December 31, 2019.

He further noted that the upcoming budget includes provisions for this adjustment.

Sri Lanka will focus on stronger recovery this year after the island nation posted real GDP growth of 5% in 2024, the highest in seven years, its central bank chief said on Wednesday, hoping to accelerate a rebound from its worst financial crisis in decades.

Sri Lanka’s economy crumpled under a severe foreign exchange crisis in 2022, but has posted a faster than expected rally after it secured a $2.9 billion International Monetary Fund (IMF) program in March 2023 and completed a $25 billion debt restructuring in December.

The economy grew 5.2% in the first nine months of 2024, outstripping the 3% estimate by the Central Bank of Sri Lanka (CBSL), Governor P. Nandalal Weerasinghe said.

“Achieving a transformative acceleration in growth trajectory is essential to catch up and enhance the growth potential. This would also help enhance the debt-carrying capacity of the country,” he said at an annual policy agenda launch.

Taking advantage of lower inflation, which reached minus 1.7% in December, Sri Lanka’s central bank set a new single policy rate of 8%, easing monetary settings below previously used benchmarks and setting the stage for stronger private sector credit growth, Weerasinghe added.

Inflation is expected to reach positive territory in mid-2025, after which CBSL will focus on maintaining a 5% inflation rate.

CBSL will also strengthen monetary policy forecasting, continue to improve its reserve buffers under the IMF program, and introduce a benchmark spot exchange rate in 2025. Weerasinghe said.

Sri Lanka will continue recapitalisation of banks, consolidate large finance companies, and review the Statutory Reserve Ratio (SRR) of 2% to increase financial system stability, the Governor added.

Source: Reuters

--Agencies

Measures have been taken to close the Bhiksu University of Sri Lanka in Anuradhapura indefinitely.

Accordingly, the Governing Council of the Bhiksu University has decided to close the university from 12.00 noon tomorrow (11).

This was revealed by the Most Venerable Niyangoda Wijithasiri Thero, the Anunayake Thero of the Malwathu Chapter of the Siyam Maha Nikaya.

The nationwide strike action that was to be launched by private bus associations against the ‘Clean Sri Lanka’ Police traffic operations has been called off.

It is reported that the private bus associations had suspended the planned strike after successful discussions with the Acting IGP Priyantha Weerasooriya today.

Accordingly, the private bus associations have been granted a 03-month grace period to adhere to the ‘Clean Sri Lanka’ Police traffic operations.

Private bus associations had resorted to strike action after expressing objections to the ‘Clean Sri Lanka’ Police traffic operations, under which they had been imposed fines and had also been ordered to remove illegal modifications.

Sri Lanka Police had launched the traffic operations under the government’s ‘Clean Sri Lanka’ programme in a bid to minimise road accidents.

Former Sri Lankan Ambassador to Russia, Udayanga Weeratunga, has been arrested by the Mirihana Police.

He has been arrested for allegedly assaulting his neighbor and will be produced before the court today, according to police.

A 66-year-old resident of Thalapathpitiya, who was assaulted by former Sri Lankan Ambassador to Russia Udayanga Weeratunga, has been admitted to the Sri Jayewardenepura Hospital and is currently receiving treatment for injuries.

The incident had reportedly occurred yesterday (09) during an argument between them over the alleged breaking of a boundary wall by the ex-diplomat’s neighbor, a resident of Kanaththa Road, Thalapathpitiya, Nugegoda.

According to reports, Weeratunga had attacked his neighbor with a plastic pipe, resulting in injuries to his face including a broken nose. Video footage of the incident has also surfaced.

Mirihana Police have launched an investigation into the incident.

President Anura Kumara Disanayake held a discussion with the Attorney General and officials from the Attorney General’s Department at the Presidential Secretariat today (06).

During the discussion, the President emphasized the importance of coordinated efforts among all institutions working towards the effective enforcement of the law.

President Disanayake highlighted the critical responsibility of the Attorney General’s Department to restore public confidence in the judicial system. He further stressed that public perception regarding political interference must be transformed to ensure trust in the legal process.

The President reiterated the government’s commitment to avoiding any actions that could erode public expectations. He assured that efforts are being made to re-establish confidence in the justice system and restore the principles of fairness and equity in the eyes of the people.

The meeting was attended by Minister of Justice and National Integration Harshana Nanayakkara, Secretary to the Ministry of Public Security Ravi Seneviratne, Attorney General Parinda Ranasinghe PC, along with several officials from the Attorney General’s Department.