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v2025

News

Autopsy confirms that all 11 inmates at Mahara died of gunshot wounds

Despite repeated denials by the state authorities regarding the deaths of 11 prison inmates, autopsy reports have revealed that all eleven of them who were killed in the Mahara Prison riot in November 2020 had died from gunshot injuries.

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Merging the military with the civil service is a sign of a dictatorship: Karu warns

Former Speaker and the Chairman of the National Movement for a Just Society, Karu Jayasuriya, has stated that merging the military with the civil service is only practiced in countries with dictatorships.
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Arundika reveals businessmen who have exploited migrant workers

Although President Gotabaya Rajapaksa has taken steps to repatriate migrant workers and Sri Lankans who were stranded abroad safely, certain individuals are attempting to exploit the situation and make quick profits, State Minister Arundika Fernando said.
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ETI Directors granted bail

The former Directors of ETI Finance and Swarnamahal Jewellers who were arrested by the Criminal Investigation Department (CID) have been granted bail.
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18-member Deregulation Commission appointed by President to simplify existing laws

President Gotabaya Rajapaksa has appointed an 18-member Deregulation Commission for the simplification of the existing laws and regulations, the President's Media Unit said.

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Non-essential import restrictions for 6 more months

State-imposed temporary import restrictions, to save on foreign exchange, are to be extended for another six months commencing from January 2, informed official sources said. The earlier 6-month period ends on January 2.

The relevant gazette notification will be issued by the Finance Ministry sometime this week on the directions of the President’s Secretary Dr. P.B. Jayasundera.

He has already announced only some ‘big-ticket items’ such as motor vehicles are prohibited from being imported for a further period. Earlier it was planned to extend the restrictions for only three months but the decision was reversed to six months on Thursday evening, the sources said.

Import restrictions will further slowdown Sri Lanka’s battered economic growth prospects hurting businesses that rely on imports, several economic experts said.

They added that it would affect production and jack up the price of goods while allowing domestic production chains to sustain themselves disrespecting consumer choice.

In the very short run, Sri Lanka has no other alternative other than going for import controls, eminent economist Dr. W.A. Wijewardena said adding that the country ideally should not exceed this ‘short’ period of controls.

Sumanasiri Liyanage, retired Professor in Political Economics at the University of Peradeniya, warned that a small group of corporate élites will grab benefits from the production-oriented strategy of restricting imports making the poor poorest due to loss of livelihoods during COVID-19.

The new production-oriented strategy unveiled in budget 2021 is likely to push the country back to the 1970s closed economic era in order to ‘save foreign exchange’, economists said.

Sri Lanka’s transformation into a production-oriented market economy with import restrictions will be leading the country towards the emergence of a separate domestic capitalist class.

According to Central Bank statistics, imported consumer goods amount only to 19.8 per cent of total imports, while 57 per cent of imports are intermediate goods for production.

Therefore local manufacturers are already starting to experience the adverse effects of the import controls.

“These import restrictions are also exerting an impact on the consumer durables market,” Singer Group CEO Mahesh Wijewardene told shareholders in the company’s latest annual report.

Several building material manufacturers in steel, tiles, aluminum are exploiting the people with overpriced goods. The main problem now is that while the people are paying high prices under cover of the tax and import restrictions, the money is not going to the government coffers but to the pockets of the few selected businessmen with ruling party connections, economists said.

The tax on readymade garment imports will be increased from April in addition to existing import restrictions on textiles, official sources said.

Economists said that several protectionist measures in the hope of saving foreign exchange were irrational in the current global and regional economic conditions.

This is because the market monopoly creation instead of market competition is misguided protectionist policy.

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29 development plans revoked by the UDA

At least 29 development plans have been repealed by the Urban Development Authority (UDA) issuing a controversial gazette notification recently under the signature of subject minister and Prime Minister Mahinda Rajapaksa, a group of professionals alleged.
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Govt. to increase the legal minimum age of employment to 16

The Sri Lankan government is planning to introduce legislations to amend the country's labour laws in order to change the minimum age of employment from 14 to 16 years of age.
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India will be a dependable partner and friend: Indian External Affairs Minister

India has reiterated its commitment to be a dependable partner and reliable friend and will be open to strengthening its relationship with Sri Lanka.

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New variant of COVID-19 may enter Sri Lanka: Health expert warns

Sri Lanka faces the danger of a new coronavirus variant entering the country as the government has allowed the foreign tourists to return to the country, a senior epidemiologist warned on Tuesday.

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"Sir's curse": Harin names five people responsible for President Rajapaksa's downfall

Samagi Jana Balawegaya (SJB) parliamentarian, Harin Fernanado said in Parliament yesterday (06), that there were five people who were responsible for the Sir's curse.
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Stress on domestic banks may lead to rise in bankruptcies in SL: World Bank

The global economy is expected to expand by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year, the World Bank has said.
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