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Sri Lanka Podujana Peramuna (SLPP) National Organiser and MP Namal Rajapaksa said that a collective force representing a genuine opposition with new ideas and fresh thinking must come together.

He stated that his party’s support for the rally to be held in Nugegoda on 21 November is driven by that very objective.

Rajapaksa further noted that the government has shifted public attention towards national security in an attempt to cover up other pressing issues in the country.

(Source - Asianmirror)

In the wake of a photo shared on social media, National People’s Power MP Nilanthi Kottahachchi said she will never bow before any political leader who plunged this country into political a abyss.

She told reporters that she is humble to bow before the innocent people who gave them the mandate, who trusted them and struggle to develop this country.

"I reiterate that it is not me in the photo. I have no underhand political transactions. I will never bow before political leaders who plunged this country into this political abyss. I am humble enough to bow before the innocent people who gave us the mandate, who trusted us and struggle to develop this country," she said.

(Source - Dailymirror)

The Ceylon Petroleum Corporation (Ceypetco) has announced a revision of fuel prices effective from midnight today (31). 

According to the announcement, the price of Petrol 92 Octane will be reduced by Rs. 5 to Rs. 294 per litre, and Super Diesel will be increased by Rs. 5 to Rs. 318 per litre. 

Meanwhile, there will be no change in the prices of Petrol 95 Octane and Auto Diesel. 

The revised rates are as follows:

Petrol 92 Octane – Rs. 294 (reduced by Rs. 5)
Super Diesel – Rs. 318 (increased by Rs. 5)

Auto Diesel – (not revised)
Petrol 95 Octane – (not revised)
Kerosene – (not revised)

Police have arrested 971 suspects in connection with nationwide anti-narcotics raids carried out under the “Ratama Ekata” operation on Wednesday (30). A total of 987 raids were conducted across the country during the operation.

According to police, 735 grams of heroin were seized in 351 separate raids, while 2.4 kilograms of the drug known as “Ice” (methamphetamine) were recovered in 330 other operations.

Meanwhile, 603 grams of cannabis and 97,283 cannabis plants were also taken into custody during 227 raids conducted as part of the same operation.

Sri Lanka’s rubber industry has entered a critical phase, driven by new rules from the European Union Deforestation Regulation (EUDR) and a government-led mapping initiative aimed at smallholder lands. The government recently approved a national programme to digitally map and register rubber plantations using GIS technology and QR codes, with the goal of meeting traceability requirements for exports into the EU. 

Under the initiative spearheaded by the Rubber Development Department and the Survey Department of Sri Lanka, all smallholder rubber holdings must be geocoded, registered and assigned a unique QR code. That code links each plot to ownership, planting data and verification of land use. The mapping is scheduled for completion by end-2025. 

The urgency stems from the EUDR, which from 2025 onwards will only allow rubber and rubber-based products into the EU if production can be proven “deforestation-free” and fully traceable to the plot. 

But Sri Lanka’s rubber sector faces headwinds. Output has fallen sharply, with natural rubber production expected to come in at around 60 million kg in 2023 a drop of 15 % compared with the prior year due to disease, fertiliser shortages and ageing plantations. 

Meanwhile, the industry, which employs over 150,000 tappers across smallholder estates, is under pressure from diminishing yields and rising global competition. 

The mapping initiative could therefore serve as a lifeline: compliance would protect market access, while failure risks exclusion and export losses. A recent report estimated that two-thirds (68 %) of the roughly 98,000 ha of rubber land is under smallholder control many of whom currently operate without formal titles or digital documentation. 

From a financial perspective, the stakes are material. Sri Lanka’s rubber product exports in 2024 reached roughly USD 1 billion, with a target to double to USD 2 billion by 2030. 

Any disruption to EU supply chains due to EUDR non-compliance could trigger sharp revenue declines, denting foreign-exchange earnings and jeopardising rural incomes. Consider: if even 10 % of exports are blocked or face higher compliance costs, that could translate into losses of USD 100 million or more; for smallholders and downstream processors working on thin margins, the ripple effect is significant.

Yet implementation risks loom. On-the-ground, mapping progress is described as slow, with rural connectivity weak, human-resource shortages acute and manual record-keeping still common. 

Economists argue that ineffective compliance could lead to higher verification costs, delayed shipments and long-term damage to Sri Lanka’s export reputation. “Without full compliance, Sri Lanka risks even greater export losses, product rejections, and long-term market damage,” one policy study warns. 

Governance matters too. Successfully registering tens of thousands of small-scale growers demands strong institutional coordination, digital infrastructure, farmer training and credible audit trails. In that sense, the mapping initiative is not just about land-registration—it is about reviving the entire rubber value-chain with sustainability and resilience at its core.

In conclusion, Sri Lanka’s push to map smallholder rubber lands under the EUDR framework is a timely but challenging endeavour. If executed well, it could unlock sustained export earnings, protect rural livelihoods and modernise the sector. If not, the consequences could be harsh: lost markets, contracting production and livelihoods at stake. As the 2025 deadline looms, the rubber industry is racing to prove that it can rise to the global environmental bar and the clock is ticking.

The Fundamental Rights petition filed by Minister Sunil Handunnetti, while he was in the opposition, seeking an order to recover Rs. 15.9 billion from those responsible for the alleged sugar fraud that occurred during sugar imports in 2020, was today fixed for support by the Supreme Court.

A three-judge bench of the Supreme Court, comprising Chief Justice Preethi Padman Surasena, Justice Kumudini Wickremasinghe and Justice Mahinda Samayawardhena, fixed the petition to be taken up for support on January 19, 2026.

The Court directed the petitioner to serve notices on the Minister of Finance and the Secretary to the Ministry of Finance regarding the petition.

Meanwhile, the Court was informed of the need to amend the caption of the petition due to changes in the designations of the respondents.

The petitioner is seeking an order directing the Attorney General to recover a sum of Rs.15.9 billion from respondents and to credit the concerned amount to the Consolidated Fund.

The petitioner had named former Finance Ministry Secretary S.R. Attygalle, Sri Lanka Standards Institution Chairman Nushad Perera, Pyramid Wilmar (Pvt) Limited, Director of Pyramid Wilmar (Pvt) Limited Sajath Mawzoon, former Secretary to the President Dr. P.B. Jayasundara, the Chairman of Consumer Affairs Authority, and Attorney General as respondents in the petition.

(Source - Dailymirror)

The Sri Lankan government has clinched a pivotal financing deal with the Asian Development Bank (ADB), securing a US$ 90 million loan under the “Second Integrated Road Investment Program (iRoad 2)– Tranche 5”. 

The programme is designed to upgrade approximately 500 km of rural access roads to climate-resilient, all-weather standards, rehabilitate 21 km of national roads, and maintain 100 km of rural routes all under the coordinating auspices of the Road Development Authority (RDA) and the Ministry of Transport, Highways and Urban Development.

On the face of it, this injection of fresh capital addresses long-standing infrastructure deficits in rural Sri Lanka. Analysing the financial impact reveals multiple layers: A recent ADB working paper shows that regions connected under earlier phases of the programme registered about a 12 % increase in nighttime-light intensity two years after road completion  a proxy for roughly 2.6 % higher local economic activity. 

If one extrapolates that out, the new tranche’s enhancements of 500 km of rural roads may generate incremental GDP gains in underserved districts possibly in the range of 2-3 % above baseline growth for those areas, given better transport access, reduced logistics cost and improved market integration. 

From a cost-benefit perspective: the US$ 90 million loan must not only deliver the infrastructure but ensure that maintenance and institutional strengthening are embedded, because improved agency capacity (asset management, contract administration) is a programme objective. 

The improvement of rural access roads has a multiplicative effect: farmers spend less time and money transporting produce to markets; children and elderly get better access to healthcare and education; women’s participation rises when transport barriers fall. This social inclusion angle is emphasised in the project’s design. Beyond direct financial returns, there is a strategic impact: by enabling smoother transport, supply-chain inefficiencies shrink, micro-entrepreneurship in rural hubs grows, and job-creation potential lifts.

On the downside, financing large-scale rural roads has risks. If maintenance funding is inadequate or institutional capacity weak, the upfront benefits may degrade quickly. The Auditor General’s 2019 review of the iRoad programme shows that while the total estimated cost was USD 906 million, only USD 557 million under four tranches had been committed by end-2019, leaving USD 243 million to roll out  showing potential financing and implementation delays. 

From the Sri Lankan macro-financial perspective, obtaining international concessional finance (like ADB’s loan) helps reduce reliance on domestic budget-borrowing or high‐cost commercial debt. By targeting infrastructure that boosts productivity, the loan can indirectly improve the country’s debt-servicing capacity. However, the country must monitor exchange-rate risk (since debt is US-dollar denominated) and ensure value-for-money in procurement and contract management.

Institutionally, the fact that the RDA and Ministry of Transport serve as implementing and executing agencies implies heavy government involvement boosting ownership but also requiring rigorous governance. The ADB’s documentation emphasises strengthening institutional capacity of national road agencies and ensuring inclusive design standards (elderly, women, children, persons with disabilities).

In sum: Sri Lanka’s securing of the US$ 90 million ADB loan under iRoad 2 Tranche 5 represents more than just “roads” it signals a strategic push to unlock rural economic growth, reduce inequalities, and improve national infrastructure resilience. The financial analysis suggests meaningful gains if implemented well; but success will hinge on robust execution, institutional performance, and long-term maintenance. With the right governance, this tranche could serve as a catalyst for rural transformation provided the promise translates into pavement.

A special audit report on the online visa issuance programme, where the work of the Department of Immigration and Emigration was outsourced to a private company last year, did not bring any revenue to the government, said sundaytimes.lk.

Tourists who qualified under the visa-fee waiver category ended up paying processing fees, thus not benefiting from the free service, it said quoting the report compiled by the Auditor General’s Department.

The report said that during its short period of operations handling the issuance of visas, GBS Technology Services & IVS Global ± FZCO and VFS VF Worldwide Holdings Ltd. could have earned at least USD 1,820,418 for the number of visa applications issued online between April 17, 2024, and August 2, 2024, due to the issuance of visas without charging visa fees for 98,401 visa applications for visa-fee waiver countries.

Newstube.lk contacted subject minister at the time Tiran Alles but he declined to comment, noting an ongoing court case with regard to the matter.

https://newstube.lk/news/23225-vfs

The website then contacted a senior official of the subject ministry, who, on condition of anonymity, rejected the claim that VFS e-visa did not bring any revenue to the government.

Explaining, he said the Department of Immigration and Emigration came under the Public Security Ministry in October 2022. At the time, Mobitel issued the 30-day e-visas. The government then obtained parliamentary approval to expand visa issuance under 12 categories.

It started on 16 April 2024, until which time visas were issued for 30 days and for SAARC countries only. Thirty-five US dollars were charged for SAARC country visas and for other countries 50 USD were levied for 30-day visas.

In the meantime, the government wanted to commence six-month, two-year, five-year and 10-year visa categories with immediate effect.

Since it could not be done by Mobitel, the need for a new methodology arose.

Before the department’s takeover by the Public Security ministry, a proposal by VFS was submitted through the Presidential Secretariat to the Tourism Ministry, which was subsequently referred to the Public Security Ministry.

The VFS proposal was studied in order to facilitate the parliament-approved 12 visa categories, and Mobitel as well as a Malaysian company submitted proposals.

Following a study of both, Mobitel’s proposal was ruled out since it was capable of issuing 30-day visas only.

The internationally-experienced VFS company’s proposal was approved following several rounds of talks by a committee appointed. With the receipt of cabinet approval, the VFS visa programme commenced on 16 April 2024.

Fees begin to be levied, instead of 30-day visas, at 75 USD for six months, at 200 USD for one year, at 300 USD for two years, at 500 USD for five years, at 1,000 USD for 10 years etc.

Accordingly,

• The government earned an additional income of 1.4 million USD under the new categories alone within 14 days since its commencement.

• In May, the additional income earned under the new categories alone was 1.5 million USD.

• In June, the additional income earned under the new categories alone was 1.5 million USD.

• In July, the additional income earned under the new categories alone was 1.2 million USD.

Taking up the petitions filed against the programme, the Supreme Court on 02 August 2024 issued an interim order suspending it.

The official said that the income to the treasury during three and a half months’ operation of the programme under the new categories alone was Rs. 1,632,300,000.

Any reduction in tourist arrivals due to the programme?

The official also rejected claims the VFS e-visa programme resulted in a reduction in tourist arrivals.

He said,

• 71,926 tourists arrived in May 2023.

• 113,676 tourists arrived in May 2024.

Which is a 62 percent increase during the month of May in the two years.

Also,

• 87,656 tourists arrived in June 2023.

• 149,982 tourists arrived in June 2024.

Which is a 54 percent increase during the month of June in the two years.

The official stressed the truth will prevail despite any insults and criticisms of the VFS e-visa programme by opponents.

In a decisive pivot away from dollar-dominant trade settlement, Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has championed the introduction of a direct renminbi (RMB) payment mechanism to streamline commerce between Sri Lanka and China. 

Under the current model, Sri Lankan importers must convert rupees into U.S. dollars before ultimately settling in RMB incurring multiple exchange-rate risks and elevated transaction costs. 

Dr. Weerasinghe argues that a direct RMB settlement route would eliminate these intermediary steps, delivering same-day fund transfers, lower processing fees and enhanced pricing stability in bilateral trade.

To enable this, the CBSL is exploring establishment of a dedicated RMB clearing bank in Sri Lanka effectively an offshore Chinese-authorised financial entity that allows local banks and enterprises to open RMB accounts, settle cross-border payments and conduct domestic RMB transactions without having to rely on foreign correspondent banks. Beijing’s push to expand its global RMB clearing network has already reached over 30 countries. 

From a financial-analysis perspective, the implications are substantial. According to recent IMF research, connecting to an offshore RMB clearing bank can increase a country’s share of payments settled in RMB by 3 to 6 percentage points annually. 

For Sri Lankaa country whose foreign exchange reserves and import-payments profile have been under strain amid its broader economic crisis—introducing direct RMB settlements could reduce reliance on the U.S. dollar, lower foreign-exchange conversion costs and bolster reserve diversification. Indeed, China’s ambassador in Colombo has already flagged that wider use of RMB may assist Sri Lanka’s recovery by reducing FX-risk and enhancing macro-economic resilience. 

Beyond cost-and-time savings, the move carries deeper strategic and structural consequences. For example:

With imports from China estimated at several billion dollars annually, shifting a portion of those flows into RMB-denominated settlement could free up U.S. dollar reserves for other priorities (such as debt servicing or critical imports).

A direct-settlement route may encourage more Chinese investors and exporters to engage with Sri Lankan counterparties, given smoother payment infrastructure and reduced foreign-bank intermediaries. Governor Weerasinghe pointed to the dual benefit of trade facilitation and investor confidence.

On the risk side, Sri Lanka must guard against over-dependence on RMB or Chinese financial infrastructure. While reducing dollar-exposure is beneficial, it also raises questions about linkage to China’s monetary system, potential regulatory and liquidity constraints, and geopolitical implications.

Looking at Sri Lanka’s recent currency swap arrangements with China: In 2021, the CBSL drew down a RMB 10 billion bilateral swap with the People’s Bank of China (PBOC) to shore up foreign-exchange liquidity. 

That episode highlights both the potential and the complexity of Chinese-currency linkages. A direct-settlement RMB clearing bank could reduce future reliance on emergency swap lines by enabling routine trade in RMB.

In summary: Sri Lanka’s push to enable direct RMB payments is a bold step in modernising its trade-settlement architecture and alleviating dollar-dependency. 

Yet, it’s a strategic choice that comes with both considerable upside and non-trivial governance and risk implications. If implemented well, it could lower costs for importers and exporters, deepen Chinese-Sri Lankan financial integration, and contribute to FX-reserve stability.

 But it will also require robust regulation, risk-management around currency and liquidity, and a clear strategic framework to ensure the move serves Sri Lanka’s broader economic interests rather than simply facilitating stronger Chinese financial influence.

In the face of opposition expressed by trade unions, the government has been forced to withdraw a series of gazette notifications that aim to provide tax reliefs to four local and international firms that have invested in Port City Colombo and abolish the rights of working people.

Trade union leaders say that being able to reverse this anti-labour decision by the National People’s Power (NPP) government led by the President is a great victory achieved in the recent past.

On 14 July 2025, President Anura Kumara Dissanayake issued gazette notifications No. 2445/2, 2445/3, 2445/4, and 2445/5 to designate as ‘primary business of strategic importance’ and provide concessions to Ceylon Real Estate Holdings (Private) Limited, Clothespin Management and Development (Private) Limited, IFC Colombo (Private) Limited, and ICC Port City (Private) Limited which have invested in Port City. In a gazette notification, the President states that the Cabinet has granted approval to this decision on 1 July 2025.

Trade unions had filed a case in the Court of Appeal against the government’s decision to abolish the Termination of Employment of Workmen (Special Provisions) Act No. 45 of 1971, which had been in effect for more than half a century, preventing the arbitrary sacking of workers.

When the case was taken up on 27 October 2025, a lawyer from the Attorney General’s Department representing the government informed the court that the government had decided to withdraw the relevant gazette notification.

Accordingly, the court has informed the Labour Commissioner that the Termination of Employment of Workmen (Special Provisions) Act should be enforced throughout the country as before, while annulling the four gazette notifications issued by the President declaring that four companies operating in Port City are exempted from the Termination of Employment of Workmen (Special Provisions) Act.

The extraordinary gazette notification signed by the President further states that it was issued to provide tax concessions to the four firms and exempt them from labour laws after “having considered the recommendations of the Colombo Port City Economic Commission and upon the approval of the Cabinet of Ministers.”

Calling it ‘two laws in one country,’ trade union leaders condemned this pro-investment move initiated by the NPP government, which came to power vowing to protect labour rights.

“Providing concessions to Port City by the President, who at the time was a key participant in protests against the establishment of Port City, is tantamount to creating a country within a country and implementing two laws,” Free Trade Zones and General Service Employees' Union Joint Secretary Anton Marcus said.

The four companies had been exempted from the Value Added Tax (VAT), the provisions of the Finance Act, excise duties, customs duties, Ports and Airports Development Levy (PAL) taxes, the Sri Lanka Export Development Act, the Termination of Employment of Workmen (Special Provisions) Act, and the Foreign Exchange Act for an extensive period of 25 years.

The Free Trade Zones and General Service Employees' Union, All Ceylon Trade Union Federation affiliated with the Communist Party, the Ceylon Estate Services Association, and three other trade unions, in collaboration, filed petition No. 875/2025 against exempting companies in Port City from labour laws.

Trade unions pointed out that exempting the four firms from the Termination of Employment of Workmen (Special Provisions) Act, which ensures the job security of workers in institutions with more than 15 workers, could result in a massive crisis.

Under the Termination of Employment of Workmen (Special Provisions) Act, the employment of any worker can be ended on non-disciplinary grounds at his own discretion, and upon written notice to the Labour Commissioner, if there are reasonable grounds, the Commissioner will approve the termination. However, as per the relevant gazette notification, employers can, at their discretion, terminate the service of workers of these four firms operating in Port City.

Something even J.R. couldn’t do

“J.R. Jayewardene, who came to power in 1977, established Free Trade Zones after exempting these zones from labour laws under the Greater Colombo Economic Commission Act. However, trade unions went to the court against this and obtained a court order. At that time, the Supreme Court said that two laws cannot be enforced in one country,” Marcus underscored.

The background for the Termination of Employment of Workmen (Special Provisions) Act was created by private-sector employers’ actions in the early 1970s, where they claimed shortages of raw materials, shut down factories, and fired thousands of workers. The Act was enacted to prevent such actions.

“In the 1970s, the United Front government passed this Act amidst protests which were staged by workers of over 70 private-sector factories and lasted for over a month. Late comrade Bala Tampoe took the initiative to draft the Bill,” Ceylon Mercantile, Industrial and General Workers’ Union (CMU) General Secretary Selliah Palaninathan noted.

The CMU General Secretary stressed that as a trade union that led the process of preparing this Act, which includes provisions that ensure job security and fairness for workers, it is their responsibility to protect it.

The Committee on Public Enterprises (COPE) has launched a deep probe into LTL Holdings Ltd., a once state-dominated power sector giant, over governance lapses, conflict of interest, and opacity in ownership exposing troubling overlaps between public and private energy interests in Sri Lanka.

Chaired by MP Dr. Nishantha Samaraweera, the October 24 COPE session delved into LTL’s transformation from a Ceylon Electricity Board (CEB) subsidiary into a sprawling conglomerate with diminishing state control. Originally founded in 1980 as Lanka Transformers Ltd., LTL began with a 70% CEB shareholding and 30% foreign ownership. Decades later, following a web of transactions and ownership reshuffles, CEB’s stake has fallen to just 35%.

COPE’s attention centred on the absence of a government audit of LTL since 2015 and potential conflicts arising from the movement of key executives between CEB and LTL. Both the founding chairman and current CEO  once CEB engineers could not confirm the exact dates of their transition, raising doubts about whether regulatory and corporate interests were improperly intertwined.

A major ownership shift occurred after LTL’s Norwegian partner divested in 2005. Instead of CEB reclaiming those shares, they were purchased by a private entity, LTL ESOT (later renamed Peradiv Ltd.), through loan financing. The 10% employee trust set up in 2001 also evolved into Tepro Investments Ltd. in 2017. These transactions collectively diluted CEB’s ownership and opened the door to private control without clear accountability.

The probe also highlighted a controversial 2006 transaction involving West Coast Power Ltd., an LTL subsidiary operating the Yugadanavi power plant. To offset Rs. 26 billion owed by CEB to West Coast for electricity purchases, 28% of LTL’s shares were transferred from CEB to West Coast with Cabinet approval. This move, described by COPE members as a “complex and opaque process,” effectively cut CEB’s shareholding from 70% to 35%.

LTL’s current ownership is divided among CEB (35%), West Coast Power (28%), Peradiv Ltd. (27%), and Tepro Investments (10%). Despite being formed with public funds and overseeing vital national infrastructure, LTL has repeatedly denied the Auditor General’s Department access to its accounts. COPE has now instructed the Power Ministry and Auditor General to enforce a mandatory audit immediately.

 Financially, LTL remains a powerhouse, reporting Rs. 59.8 billion in revenue and Rs. 5.8 billion in post-tax profits for the year ending March 2024, with assets of Rs. 133.6 billion and equity of Rs. 74.4 billion. Around 70% of its income is foreign currency-linked, and projections for FY2025 estimate revenue nearing Rs. 91 billion. However, COPE members warn that such profitability may obscure systemic governance risks.

The ongoing inquiry raises pressing questions: Who authorised the share transfers that eroded state ownership? Were procurement deals between CEB and LTL conducted transparently? And why have audits been obstructed for nearly a decade?

As Sri Lanka’s power sector struggles with pricing pressures, capacity shortages, and mounting debt, COPE’s findings could mark a watershed moment  testing how far transparency and accountability will extend into the upper echelons of state-linked enterprises.

The Consumer Affairs Authority (CAA) has announced that the free distribution of shopping bags used for carrying goods will be prohibited starting tomorrow (November 1).

In an extraordinary gazette notification issued on October 1, the CAA made it mandatory for vendors to indicate the price of shopping bags on bills issued to consumers.

The notification specifies that container bags made of low-density polyethylene (LLDPE) and linear low-density polyethylene (LDPE) must not be provided free of charge. Businesses are also required to prominently display the price of these bags at their premises.

(Source - Dailymirror)