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‘How come gold smuggling MP remains on Ethics and Privileges Committee’? By Shamindra Ferdinando The Opposition would seek the IMF’s commitment to rein in rampant corruption with the Wickremesinghe-Rajapaksa government in spite of the country being declared bankrupt over a year ago, former External Affairs Minister Prof. G. L. Peiris said yesterday (11). Addressing the […]
[…]The post Economy, Easter Phoenix & Politics appeared first on Colombo Telegraph.
The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that in the event the Employees Provident Fund (EPF) participates in the Domestic Debt Optimisation (DDO) process, the opportunity loss to the EPF bond portfolio will amount to 4%.
[…]The post Unthinkable, Unspeakable Can Happen appeared first on Colombo Telegraph.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post ණය ප්රතිව්යුහගතකරණය, ආර්ථික කප්පාදුව හා ජාත්යන්තර මූල්ය අරමුදල: සර්වරෝගනාශකයක්ද නැත්නම් තත්වය උග්ර කරවන්නක්ද? – කොටස V appeared first on Colombo Telegraph.
[…]The post The Republic That Fears The Independence Of The Judiciary Even More Than Terrorism appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe underscored the imperative to fortify the nation’s economy, ensuring that forthcoming generations are spared from enduring the unfortunate period that both the country and its people have weathered in the past two years.The post Sri Lanka risks returning to bankruptcy within a decade unless steps taken promptly – President appeared first on ONLANKA -...
[…]The post Debterioration Of Nations Social Security & Protection appeared first on Colombo Telegraph.
Speaker Mahinda Yapa Abeywardena told Parliament on Friday thaty he would not revoke his ruling given on Wednesday with regard to the Parliament’s supremacy over the Supreme Court. He said that he had consulted legal experts in preparing his ruling that the Supreme Court is not empowered to issue orders or judgments of any nature against […]
By Saman Indrajith Opposition political parties yesterday (11) demanded that Speaker Mahinda Yapa Abeywardena withdraw his ruling that courts are not empowered to issue orders or judgements of any nature related to a motion already passed by the Parliament. On 09 August, the Speaker gave the ruling after Tourism and Lands Minister Harin Fernando raised a privilege issue on petitions filed against ...
The Cabinet of Ministers has approved a proposal to amend Employees’ Provident Fund (EPF) Act to ensure a minimum of 9 percent annual interest rate to members during the next four-year period (2023 to 2026) following Domestic Debt Optimisation.The post Sri Lanka to amend EPF Act to ensure 9% annual
By Rathindra Kuruwita Brain drain is the worst manifestation of the country’s economic crisis, Freedom People’s Congress (FPC) member and MP, Prof. G.L Peiris, said on Thursday.Prof. Peiris said that a large number of academics had left state universities. In recent years, the number of students enrolled at the state universities had risen significantly, he […]
[…]The post Speeding Up Recovery Requires Consistency appeared first on Colombo Telegraph.
ECONOMYNEXT –Sri Lanka’s main opposition party the Samagi Jana Balawegaya (SJB) will present an amendment to the Employees’ Provident Fund (EPF) Act to ensure an equitable treatment in restructuring domestic debt, an SJB legislator said. MP Harsha de Silva told reporters on Wednesday July 12
[…]The post The International Priority To Be Heeded appeared first on Colombo Telegraph.
[…]The post Domestic Debt Restructuring: An Episode In Capital’s Attack On Working People appeared first on Colombo Telegraph.
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
[…]The post Labour Reforms In A Time Of Great Crisis appeared first on Colombo Telegraph.
When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]
By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]
Government-guaranteed interest on funds - Sri Lanka Banks’ Association
The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program,produced by the Presidential Media Division, Russel Fonseka, the Chief Executive Officer of the Bank of Ceylon and a member […]
‘CBSL employees receiving higher interest rate of 29 percent’ Pivithuru Hela Urumaya (PHU) leader and dissident SLPP MP Udaya Gammanpila yesterday (04) said that though the government insisted that its Domestic Debt Optimisation (DDO) programme would have no impact on the banking sector, banks could lose as much as Rs 97 bn. Addressing the media at […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
[…]The post Non-Recurrence Requires Accountability appeared first on Colombo Telegraph.
by Jehan Perera President Ranil Wickremesinghe notched up another achievement when Parliament ratified the Domestic Debt Restructuring (DDR) programme with a majority of 60 votes, with 122 members voting for and 62 against, with 40 abstentions. Parliamentarians who would need to think about their re-election prospects would have been reluctant to vote for a programme […]
By N Sathiya Moorthy In his Hajj message last week, President Ranil Wickremesinghe called upon all Sri Lankans to remain ‘united in a common cause to achieve our domestic, regional and global goals’. Yet, a day later, his leadership was seen as having split the political Opposition over the domestic debt restructuring issue in Parliament, indicating […]
By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga has strongly opposed the government move to place the debt-restructuring programme under President Ranil Wickremesinghe’s control as the latter does not represent Parliament. Addressing Parliament on Saturday (01), the leader of civil society group ‘Yuthukama’ pointed out that the Resolution on the Domestic Debt Optimisation (DDO) was [...
about burden falling on superannuation funds esp #EPF without […]