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By Rathindra Kuruwita The JVP yesterday asked the government why it had closed the banks for five days and summoned Parliament without an Order Paper if it was confident that the domestic debt restructuring would have no detrimental impact on the people. JVP’s Dr. Nalinda Jayatissa told journalists in Colombo that the government had a […]
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
Will not affect the banking system stability or the stability of any public or private bank Will not affect any interest on bank deposits of over 50 million depositors that is currently being paid Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet tomorrow - Says President in Gampaha
- President's Climate Prosperity Plan identified climate issues that would affect the country (Category: Breaking News)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Province warns of strong winds in northwest Ontario (Category: Canada, Ontario)
Declaring that the government had been compelled to go ahead with the debt restructuring programme, President Ranil Wickremesinghe yesterday (27) assured that it wouldn’t have a detrimental impact on both state and private banking sectors. The assurance was given at the opening of a new building at the Gampaha District Secretariat premises. President Wickremesinghe said […]
President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Foreign debt restructuring not feasible without domestic debt restructuring  Fin. Sec. (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
an order preventing the government from cancelling the loans obtained from the EPF and […]
- Orwellian Isle Ordeals (Category: Breaking News)
- Message from a Cell Death (Category: Breaking News)
- Post-Match Melancholia (Category: Breaking News)
- Empire’s Enchantment (Category: Breaking News)
Expressing strong opposition to the proposed domestic debt restructuring programme announced by the government, Prof. G. L. Peiris, MP, yesterday (26) accused the Wickremesinghe-Rajapaksa administration of being insensitive and irresponsible in addressing the issue. Instead of working on a social security net to protect the needy, the government was taking a dangerous path that would […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
A Fundamental Rights (FR) petition has been filed before the Supreme Court seeking an order preventing the government from waiving off the loans obtained from the Employees Provident Fund (EPF) and Employees Trust Fund (ETF), during the domestic debt restructuring process.
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
- Is State Owned Temasek A Useful Concept For Sri Lanka? (Category: Breaking News)
- To Be Realistic, There Are Only Two Options (Category: Breaking News)
- Liberal Or Edible Economics: Global Disorder Worst In A Century (Category: Breaking News)
- Lanka: Dilemmas & Economic Programmes – Do We Consume More Than We Produce? (Category: Breaking News)
By Saman Indrajith State Minister of Finance Ranjith Siyambalapitiya told Parliament on Tuesday that compelling creditors to take a haircut was not the only way to restructure domestic debt. Measures such as debt moratoria, reductions in interests and delayed payments could also be adopted to restructure domestic debt, Siyambalapitiya said. “We have not decided to […]
- State Minister dismisses speculations on restructuring domestic debt (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Siyambalapitiya alleges move to trigger run on banks (Category: Breaking News)
- Opposition vows to fight domestic debt restructuring plans of govt (Category: Breaking News)
The Sectoral Oversight Committee on Foreign Employment and Labour has recently directed the Central Bank to submit a report detailing the institutions in which funds belonging to the Employees Provident Fund (EPF) have been invested. In addition, the committee has decided to summon experts
- SOC reveals defaulted EPF payments by plantation companies (Category: Breaking News)
- COPF discusses effect of domestic debt restructuring on EPF (Category: Breaking News)
- EPF to be summoned before PAC (Category: Breaking News)
- Govt. planning to place EPF, ETF under independent body (Category: Breaking News)
Opposition MP Dr. Harsha de Silva has highlighted the critical considerations surrounding Domestic Debt Optimisation and its impact on the members of the Employees Provident Fund (EPF). Speaking on behalf of the Opposition, recently, de Silva emphasised the need to prioritize the interests of EPF
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- COPF discusses effect of domestic debt restructuring on EPF (Category: Breaking News)
- Private sector pension in the pipeline, says UNP (Category: Business)
By Shamindra Ferdinando The Opposition yesterday (08) lambasted Speaker Mahinda Yapa Abeywardena for what it called a move to disrupt the Committee on Public Finance (CoPF) ahead of the vote on a Bill titled ‘Central Bank of Sri Lanka.’ Top spokespersons for the Nidahas Janatha Sabhawa (NJS) Prof. G.L. Peiris, MP, and the main Opposition Samagi […]
- Speaker accused of being notorious for suspending Standing Orders (Category: Breaking News)
- Govt. causes split in SJB by appointing Mayantha as COPF head instead of Harsha (Category: Breaking News)
- Debt restructuring: Opp. won’t accept President’s assurances; COPF examines proposals (Category: Breaking News)
- Why does IMF ignore government’s authoritarian behavior, asks Harsha (Category: Breaking News)
By Rathindra Kuruwita President Ranil Wickremesinghe was under the impression that he could scare Sri Lankan institutions into submission and force an economic recovery with his presidential powers, Sri Lanka Freedom Party (SLFP) General Secretary, MP Dayasiri Jayasekera said yesterday in Colombo. Jayasekera said that the government was trying to restructure domestic debt, as per […]
- Orwellian Isle Ordeals (Category: Breaking News)
- Message from a Cell Death (Category: Breaking News)
- Post-Match Melancholia (Category: Breaking News)
- Empire’s Enchantment (Category: Breaking News)
The Ceylon Electricity Board (CEB) is likely to be broken into 14 privately owned enterprises. Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake said that with the proposed amendments to the Electricity Act the CEB will be broken into 14 privately owned enterprises. He claimed that the Norachcholai coal power plant […]
- No move to enforce 10-12 hour power cuts (Category: Breaking News)
- PUCSL begins public consultations on tariff revision (Category: Breaking News)
- PUCSL against attempting to sabotage power supply (Category: Breaking News)
- PUCSL continues war against electricity tariff hike (Category: Breaking News)
Tuesday 2nd May, 2023 Another May Day has come and gone. The organisers of the International Workers’ Day celebrations, in this country, rarely mention the Haymarket Riot in Chicago (1886), and benefits that accrued therefrom to workers the world over, much less commemorate the brave workers who have laid down their lives in the US […]
- Unions in govt.’s crosshairs (Category: Breaking News)
- Minister emphasises importance of occupational safety (Category: Breaking News)
- It is crucial that we put the country first and not fall prey to narrow political interests at t... (Category: Breaking News)
- First SL-born woman Aussie MP here (Category: Breaking News)
The Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka was passed in Parliament by a majority of 95 Votes with 120 voting in favour and 25 voting against. Except for AHM Fowzie all other SJB members were not present in the chamber at the […]
- Resolution on IMF deal passed with 120 votes (Category: Breaking News)
- No objection from CB chief to tabling IMF deal:Speaker (Category: Breaking News)
- Rasamanickam: IMF agreement waste of time and money as it is already signed (Category: Breaking News)
- SJB lacked backbone to vote against IMF deal – NPP (Category: Breaking News)
The Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka was passed in Parliament by a majority of 95 votes with 120 voting in favour and 25 voting against it. The Parliamentary debate on the agreement reached with the IMF started after President Ranil Wickremesinghe made […]
- No objection from CB chief to tabling IMF deal:Speaker (Category: Breaking News)
- Rasamanickam: IMF agreement waste of time and money as it is already signed (Category: Breaking News)
- IMF has given govt. blank cheque – Charitha (Category: Breaking News)
- IMF agreement: The ayes had it– 120 for and 25 against (Category: Breaking News)
Steps are being taken to prepare the new integrated labour law to avoid the complexities of the existing employment statutes, Minister of Labour and Foreign Employment, Manusha Nanayakkara, recently told the Ministerial Consultative Committee on Labour and Foreign Employment affairs. The Minister said they will start taking opinions and suggestions of all relevant parties from […]
- Flexible work arrangements to be introduced in Sri Lanka? (Category: Breaking News)
- Draft of proposed Employment Act to be made public soon (Category: Breaking News)
- Manusha issues warning over health sector jobs in Israel (Category: Breaking News)
- Manusha and Harin resign from ministerial portfolios (Category: Breaking News)
Powering the 89th annual Battle of the Saints, Sri Lanka’s leading private sector bank HNB PLC, reaffirmed its commitment as the official banking partner for the highly anticipated cricket encounter at the Sinhalese Sports Club on April 28, 29 and 30. The match will see the two leading Catholic schools, St. Josephs College and St. […]
- HNB honoured as the Best Retail Bank in Sri Lanka for the 13th year (Category: Breaking News)
- HNB launches Affinity Credit Cards packed with benefits for the members of Ladies’ College OGA (Category: Breaking News)
- Archbishop Emeritus Oswald Gomis passes away (Category: Breaking News)
- Amidst crisis US expanding its role through JKH, HNB (Category: Breaking News)
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
- Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts (Category: Breaking News)
- Sri Lanka virtually let down by China in securing a $2.9 billion IMF loan in December (Category: Breaking News)
- President urges China to change tune on debt (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
By N Sathiya Moorthy Now that President Ranil Wickremesinghe has promised to table the IMF bail-out documents in Parliament on 25 April, there will be some relief for citizens wanting out of the meaningless politico-electoral speculation of the time. It could well be back to a more serious discourse on the economy, economic recovery – […]
- Bangladesh gives Sri Lanka more time to repay $200 million loan (Category: Breaking News)
- Three leading international firms offer advice to Sri Lanka (Category: Breaking News)
- Sri Lanka hopeful of completing debt restructuring in six months (Category: Breaking News)
- IMF says time frame for Sri Lanka bailout remains uncertain (Category: Breaking News)
By Shamindra Ferdinando The International Monetary Fund (IMF) owed an explanation as regards the recent government declaration that domestic debt restructuring was part of the programme implemented in terms of Sri Lanka’s agreement with the lending agency, top Opposition spokesperson Prof. G.L. Pieris, MP said yesterday (10). Having repeatedly assured that domestic debt wouldn’t be […]
- Opposition slams govt. over domestic debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
USNS Brunswick, a Spearhead-Class Expeditionary Fast Transport ship of the U.S. Navy arrived at the port of Trincomalee (08th April 2023).
Wednesday 5th April, 2023 There have been substantial reductions in fuel prices, and they will go a long way towards tackling inflation. The economy is said to be showing some signs of recovery, but more trouble is apparently brewing for the hapless Sri Lankans, who are struggling to keep the wolf from the door. Now, […]
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
- Budget 2023 Will Be The Acid Test Of RW’s Magic Wand (Category: Breaking News)
- Navigating The Economic Reawakening & Sustainable Growth (Category: Breaking News)
- Sri Lanka’s New Government: Be Warned Of The Empty Treasury & Negative Foreign Reserves (Category: Breaking News)
- Bankrupt Sri Lanka Celebrated Independence, But Now It Is Back To Hard Economic Realities (Category: Breaking News)
Speech made November 22 I have consistently recorded my opposition to Minister of Finance being the President. From 2010 onwards in this House, whenever the President in his capacity as Minister of Finance has presented a budget I have recorded that protest and I wish to record that today as well. When a person who […]
- Reconstitution of COPE, COPA in limbo (Category: Breaking News)
- BASL: If 21A fails, that will adversely affect future law reform initiatives (Category: Breaking News)
- Interim Budget passed (Category: Breaking News)
- GL: Govt. not concerned about corruption despite Geneva warning (Category: Breaking News)
The Employees Provident Fund (EPF), the largest social security scheme in Sri Lanka, has suffered massive losses due to the investments made in listed and unlisted companies, a new report compiled by the Auditor General s Department revealed.
By Sanath Nanayakkare Leading rice miller, Lankeshwara Mithrapala says he has suspended purchasing paddy because it is not proper to purchase paddy from farmers at prices lower than Rs. 120 per kilo, and if he did purchase at that price, he would have to absorb a loss of Rs. 23 from each kilo of rice. […]
- Paddy cultivators complain of exploitation by traders (Category: Breaking News)
- Govt.’s Purchasing Mechanism Criticized (Category: Breaking News)
- New tax puts small-time rice millers out of business (Category: Breaking News)
- Farmers Protest (Category: Breaking News)
Fear of a DDR/IFR event drive rates even higher
- Sri Lanka central bank US$4.0bn in debt by March 2022 (Category: Breaking News)
- Sri Lanka central bank busts US$9.8bn since Feb 2020 to suppress rates, for stimulus (Category: Breaking News)
- Sri Lanka’s Central Bank Governors should be restrained by law, not given independence (Category: Breaking News)
- Sri Lanka will have to print money unless taxes are raised: CB Governor (Category: Breaking News)
Minister Kanchana Wijesekera has publicly stated that the Ceylon Petroleum Corporation (CPC) and the Ceylon Electricity Board (CEB) have employees far in excess than required for the normal functioning of these institutions. For instance, Ceylon Petroleum Storage Terminals Ltd., has 4,200 employees where only 500 are required, and the CEB has around 26,000 employees when […]
- Union blames loss-making state ventures on governments using them as job banks (Category: Breaking News)
- Prove worthiness (Category: Business)
- About Rs 3 bn paid as OT during past few months (Category: Breaking News)
- Electrifying losses (Category: Business)
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