By Rathindra Kuruwita The Ceylon Electricity Board (CEB) has significantly overestimated the cost of electricity production and transmission for 2024 and this is reflected in their estimated cost of production, says MP Gamini Waleboda, head of the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis. The overestimation is around Rs 140 billion, […]

In a welcome development in relation to Sri Lanka’s regional policy, some state functionaries of the Ranil Wickremesinghe regime have gone on record as having stated that Sri Lanka would be taking notable cognizance of India’s security concerns, going forward. This is as it should be. None of India’s immediate neighbours could afford to overlook […]

Tuesday 27th February, 2024 Sri Lankan politics is turning red in tooth and claw; the battle for the coveted executive presidency is getting down and dirty with every passing day. The presidential election is about eight months away, but the prospective contenders are already trading blows below the belt. At this rate, they might even […]

On 24 January this year, the Chinese Vice-Premier Li Guozhong made a brief transit halt in the Maldives. During the stopover, he met with the Foreign Minister Moosa Zameer. The Vice-Premier was on his way back after attending the Non-Aligned Summit and the third South Summit in Uganda from 19-24 January. This came after President […]

Leader of the United Republic Front Member of Parliament Patali Champika Ranawaka, presented the proposal titled “A United Step for the Country” to President Ranil Wickremesinghe , at ‘Srikota’, the United National Party headquarters in Colombo this morning (24). Speaking at the event President Ranil Wickremesinghe, highlighted the government’s concerted efforts over the past two […]

As Pakistan grapples with the aftermath of controversial elections, political chaos is threatening to cloud its $3bn deal with the International Monetary Fund (IMF), which analysts say is key to the country’s economic stability. On Thursday, the global lender said Pakistan’s interim government had “maintained” economic stability. The IMF’s communications chief, Julie Kozack, said the […]

In his policy statement during the inauguration of the 5th session of the 9th parliament, President Ranil Wickremesinghe insists that the solution to the economic crisis lies in economic and scientific measures, not political ones. However, he draws inspiration from Confucius and urges citizens to introspect and cleanse their hearts, which can be seen as […]

by Rajan Philips 2024 is election year practically everywhere. In South Asia, it is two down and two to go. Bangladesh went first in January, and the governing Awami League won the election as predicted, with the main opposition Bangladesh National Party boycotting the election and the government fielding independent candidates to avoid the embarrassment […]

By Shamindra Ferdinando National Freedom Front (NFF) leader Wimal Weerawansa says the proposed Economic and Technology Co-operation Agreement (ETCA) with India should be examined in the context of India’s geopolitical strategy in respect of Sri Lanka. Referring to a recent declaration by SLPP MP Rear Admiral (retd.) Sarath Weerasekera that the government parliamentary group hadn’t […]

Japan has pledged USD 931,000 for a UNDP-led project meant to improve good governance by tackling corruption. A statement issued by the Japanese Embassy on behalf of the Sri Lankan government and the UNDP declared that in terms of the latest initiative ‘a Project for Promoting Economic Governance through Anti-corruption Policy Support’ they intended to […]

“The struggle for freedom for the people of Sri Lanka was not over with the country gaining independence in 1948. The freedom struggle must continue until every Sri Lankan believes and feels that he is an equal citizen of the country of his birth. This was stated by Director of the Walpola Rahula Institute of […]

President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

By DR. C. S. WEERARATNA A trade deficit typically occurs when a country does not produce enough goods for its citizens. When production cannot meet demand as in Sri Lanka, there is a need to import thereby widening the trade deficit.  A persistent trade deficit is detrimental to a country’s economy

Urges unity over deep political divisions for effective crisis management Says ‘intricate’ foreign debt restructuring will take up to six months Invites Opposition to confer with institutions that foster international financial stability by Sanath Nanayakkare As government revenue increases, measures will be taken to increase benefits for the people accordingly, President Ranil Wickremesinghe said...