By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]

Sri Lankan government had shared the details and the conditions of the 4.2 billion dollar debt deal with China with other creditors, Governor of the Central Bank Dr. Nandalal Weerasinghe told Bloomberg.Governor Weerasinghe expressed optimism about restructuring Sri Lanka’s debt through the official creditors committee, aiming to secure IMF support for a 330 million dollar […]

Sri Lanka s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors  a key sticking point with countries like India  paving the way for more loans from the International Monetary Fund.

The momentous event of the week-ended-today was the presentation of Budget 2024 by the President in his capacity as the Minister of Finance. Usually, Sri Lankan Presidents keep away from Parliament; not Ranil Wickremesinghe, and a jolly good move it is. The Island of Tuesday November 14 headlined the VI Event as: “Prez presents Budget […]

By Saman Indrajith TNA Jaffna District MP M.A. Sumanthiran told Parliament on Wednesday that Rajapaksa brothers had enough money to compensate 22 million people in the country.  Participating in the second reading debate on Budget 2023, MP Sumanthiran said that his party welcomed the Supreme Court determination that ex-President Gotabaya Rajapaksa, along with former Finance […]

The Former Director of the Central Bank of Sri Lanka (CBSL), Dr. Roshan Perera expressed that the 2024 Budget, which was presented to the Parliament recently, is observed to be mainly focused on continuing the macro-economic stability that Sri Lanka has achieved over the past few months.

Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, participating at a media briefing held at the Presidential Media Centre (PMC) on Wednesday (15), under the theme ‘Collective path to a stable country’ said that the existing national debt stands at approximately US $ 36 billion and only 37% of this debt is slated […]

A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a monthly average of Rs 17.135 billion, growing its loan book by 4.33% over three months to Rs 1.239 trillion and reversing the trend of the first half […]

Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew.  He said that a new social consensus should be […]

* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]

By Shamindra Ferdinando Former Chairman of Committee on Public Enterprises (COPE) Prof. Charitha Herath yesterday (13) said that undue delay on the part of a particular parliamentary watchdog committee to call certain state enterprises should be inquired into against the backdrop of some hidden facts and perhaps political interference. In the case of HDFC Bank, […]

Tuesday 14th November, 2023 President Ranil Wickremesinghe told Parliament yesterday that Budget 2024 was intended to “build the foundation of Sri Lanka’s recovery”. “We cannot continue as a people who depends on others,” he said. What he has chosen to leave unsaid is that the budget primarily seeks to keep the IMF bailout on track […]

* Lankan universities have been running with no more than 60 percent of the cadre of teachers approved for them and now perhaps less. * Upper secondary schools are run with no teachers for mathematics, physics and information technology. * University teachers are emigrating in droves, driven away into uncertain lives in other countries. *In […]

The World Bank’s Board of Executive Directors on Thursday approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector. “Sri Lanka’s economic crisis highlights the need for strong safety nets to support the financial sector. Stable and reliable banking sector is essential for the economy, businesses and individuals, small […]

by Rex Clementine The Cricket administration headed by Shammi Silva is getting roasted these days for the mess they have created and the humiliations the national cricket team has suffered. Together with them the national selection committee and Consultant Coach Mahela Jayawardene, who had a free hand to put cricket right, deserve blame for his […]

The World Bank s Board of Executive Directors on Thursday (Nov. 09) approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.