News

The proposals requesting to grant relevant exemptions or incentives to two projects at the Port City of Colombo have received Cabinet approval.

The government said a proposal has been submitted by Asiri Port City Hospital (Pvt) Company to implement a project to develop a hospital in the Port City of Colombo under an investment of USD 100 million.

A proposal was also submitted by TIQRI Software PTE Ltd to implement an Information Technology Business in the Port City of Colombo with an initial foreign direct investment of US$100,000.

Both projects qualify for exemptions or incentives under 2(b) of Colombo Port City (Guidelines on the Grant of Exemptions or Incentives to Businesses of Strategic Importance) Regulations, No. 2 of 2023.

Accordingly, the proposal presented by the President, in his capacity as the Minister of Investment Promotion, to grant relevant exemptions or incentives to the Asiri Hospital project under the said provisions, and to announce the project as a primary business of strategic importance through a gazette order, and then table the said order in the Parliament, was approved by the Cabinet of Ministers.

The proposal presented by the President to grant relevant exemptions or incentives to the Information Technology Business project under the said provisions, to announce the project as a secondary business of strategic importance through a gazette order, and then table the said order in the Parliament, was also approved by the Cabinet of Ministers.

The National Building and Research Organisation (NBRO), on Saturday (Dec.30) issued early landslide warnings for several localities in 5 districts, to be in effect until 02.30 p.m. tomorrow.

Accordingly, a Level 02 (Amber) alert was issued for the following areas:

Badulla – Saranathota and Passara Divisional Secretariat Divisions (DSD) and surrounding areas

Kandy – Ududumbara DSD and surrounding areas

Monaragala – Medagama DSD and surrounding areas Nuwara-Eliya – Hanguranketha and Walapane DSDs and surrounding areas

Meanwhile, Level 01 (Yellow) alerts have been issued for the following areas:

Badulla – Bandarawela, Hali-Ela and Badulla DSDs and surrounding areas

Matale – Laggala Pallegama, Rattota and Naula DSDs and surrounding areas

Sri Lanka Customs has achieved a record revenue exceeding Rs. 900 billion in 2023, according to Customs Media Spokesman Seevali Arukgoda. 

The department had earned Rs. 970 billion last year, marking the highest annual total in its history. 

The revenue collected for 2023 was 138% higher than that of 2022, he said. 

Initially set a target of Rs. 1,217 billion for 2023 by the Ministry of Finance, the target was later cut down to Rs. 893 billion due to the economic challenges. 

Despite this being the highest annual revenue ever recorded, it’s worth noting that in 2018, Sri Lanka Customs had also achieved a revenue of Rs. 923 billion.

Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandala Weerasinghe has emphasised the importance of the continuity of the Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF).

Speaking at a special briefing held this afternoon (29 Dec.), Dr. Weerasinghe explained that the EFF programme should continue for the next four years, under any government, in order to get the debt relief and international financial support required.

He warned that unilateral withdrawal from the IMF-EFF agreement will result in severe implications.

Dr. Weerasinghe was addressing a press briefing convened at the Central Bank premises on the Financial Stability Review (FSR) of 2023.

The CBSL recently released its report on FSR for 2023 which highlighted that although it is expected that the existing macro-financial vulnerabilities would dissipate in the period ahead, with the envisaged improvements in the macroeconomic front, continued advancement along the policy reforms agenda envisaged in the IMF-EFF agreement is essential to direct the economy and the financial system into stable grounds.

In this vein, the report read:

“Any deviation from this path would bring detrimental and irreversible consequences to the financial system and the economy, though moving along this arduous and narrow path is challenging. The instigation and operationalisation of strong and appropriate frameworks that proactively address vulnerabilities and implementation of timely, well sequenced, and consistent policies is also crucial to ensure the stability of the Sri Lankan financial system.

As the economy undergoes a monetary policy easing cycle, the credit cycle is expected to enter an expansionary phase, in which macroprudential concerns could build-up. The Central Bank commits to monitoring these developments closely and implementing necessary policy actions to mitigate systemic risks and ensure financial stability through macroprudential interventions”

The Ministerial Sub-Committee for Cricket handed over its report to President Ranil Wickremesinghe at the Presidential Secretariat today.

The president said he intends to implement the recommendations of the report, while the report and the new sports Bill draft would be presented to Parliament shortly.

Distilleries Company of Sri Lanka (DCSL), announced that it will increase the prices of its alcoholic beverages starting January 1, 2024, citing the recent revision of VAT.

The price hikes will vary based on bottle size:

750ml bottles: Increase of Rs. 90

375ml bottles: Increase of Rs. 50

180ml bottles: Increase of Rs. 20

Sri Lankan police arrested over 20,000 persons during the period between December 17 and 31 in the operations to curb drug trafficking and organized crimes, the Public Security Ministry said on Sunday .

The ministry said in a statement that 20797 persons were arrested and 1018 of them had been held under detention order for further interrogation.

According to the ministry,1298 persons who are drug addicts were sent for rehabilitation.

The police seized properties owned by drug dealers and organized criminals during operations, the ministry said.

President Ranil Wickremesinghe has appointed Justice W. M. N. P. Iddawala as the Chairman of the Commission to Investigate Allegations of Bribery or Corruption in Sri Lanka.

The announcement, made by the Prime Minister's Office, also introduced Chethiya Goonesekera and K. Bernard Rajapakse as the other esteemed members of the commission.

The newly appointed Chairman, Justice W. M. N. P. Iddawala, brings a wealth of experience to the role, having served with distinction in the legal field. His expertise is expected to play a pivotal role in steering the commission towards effective and unbiased investigations.

A new year has dawned early for Matara with smiling faces and hopes for victory for the NPP in 2024, said its leader Anura Kumara Dissanayake.

He was speaking at the party’s district conference for women at the public stadium in Matara yesterday (30).

A nation-changing tsunami has been launched from Matara, he said, adding the NPP has reached a new high from its popularity during the local government polls announced in March.

It has set up a variety of organizations including the retired tri-forces members, to become a formidable force to save the country from its tragic situation, said Dissanayake.

The women’s conference has dispelled doubts against a NPP victory at any election that takes place in the coming year, he added.

Veteran advertising professional Harith Gunawardena passed away this morning (28), aged 55.

He was the chairman of state-owned Selacine Television Institute.

1,554 suspects were arrested over drug trafficking during Operation Yukthiya, in the 24-hour window that ended at 12:30 am today.

Police say that investigations on 82 of the arrested suspects have begun based on detention orders.

62 were directed to drug rehabilitation centers.

128 wanted suspects by the Police Narcotics Bureau and Special Bureau were also arrested.

Police say that illegal asset investigations were initiated against suspects who were arrested.

Police say that drugs including Heroin, ICE, and cannabis, were seized during the drug raids carried out.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has issued a special notice to the public looking to purchase mobile phones.

TRCSL’s Deputy Director / Compliance (Consumer Complaints & Consumer/ Public Awareness) Menaka Pathirana has requested the public to check the registration of their mobile phones during purchase.

Pathirane said consumers can verify if the mobile phone is registered with the TRCSL by sending an SMS to 1909 by typing IMEI (The 15-digit IMEI number of the new phone).

She further said that an immediate response SMS will be sent verifying whether or not the mobile phone is authorized by the TRCSL.

Stating that it is essential for new mobile phones to be authorized with the TRCSL, Pathirane added that the verification process will help avoid future issues that could be faced by the consumer.