Sep 2 (FT) TNA MP M.A. Sumanthiran says the Govt must rethink its priorities and address the needs of the lower income classes of the country. Sumanthiran pointed out that the Govt, despite promises, has not allocated funds to provide the promised subsidy for kerosene but is making essentials necessary for the country’s middle class and upper-middle class readily available. “Govt is making petrol & super diesel available but more..

Sep 2 (CT) IMF Staff Agreement deal of US$ 2.9 billion announced yesterday (1) brought no succor to the ‘spot’ which closed unchanged for the forty-third consecutive market day at Rs 360/364 to the US dollar in two-way quotes to yesterday (31), market sources said. Consequently, yesterday, the administered market ‘spot’ was down by between 78.22-79.31% (Rs 158-161), year-on-year (YoY); thereby causing cost push inflationary pressure as SL is an import dependent economy, more..

Sep 2 (AD) The man who critically injured a child after brutally stabbing him in Badulla earlier today (1) has been placed under arrest. The suspect was taken into custody by the police and the residents of the area after tracking him down to nearby woods. According to the police, the suspect had attempted to escape while hurling stones at the group who came for his arrest. He has sustained injuries after tripping on a rock. The suspect, who is believed to be suffering from a mental illness, more..

Sep 2 (ST) Sri Lanka is expecting a shortfall in paddy output in the Yala season that is drawing to a close, while the purchase price of paddy and retail price of rice remains a contentious issue at a time of increased food insecurity. Imports will help cover the expected shortage, said Professor Buddhi Marambe. In March and April, researchers had predicted a severe shortage by October, based on 430,000 metric tonnes produced in the first six months, with a monthly consumption of 195,000 MT. more..

Sep 2 (DN) Gayanjali Amarawansa the experienced player from HNB who is leading the SL Netball team said they have good preparation for Asian Netball championship which will commence on Sept 3 in Singapore. 12 member team comprised with most senior player 6 foot 11 inches tall Thajani Shivalingam who was away in Australia for league Netball and she will return to Singapore directly to join the SL team. Team left last Tuesday while they are ready to play first practice game more..

Sep 2 (TM) Implementing the Wealth Tax to protect the vulnerable and the poor from the impact of the fiscal adjustment to reduce the fiscal deficit is a part of the IMF Staff-Level Agreement (SLA) with SL, stated IMF Mission Chief for SL Masahiro Nozaki. He said that since SL’s tax collection has been very low, progressive tax reforms should be designed to raise tax revenue to support fiscal adjustment in reducing the fiscal deficit. more..

Sep 2 (FT) The prices of each category of cigarettes was increased by Rs. 3, Rs. 5, Rs. 10 and Rs. 15 each as a result of the increased VAT in the mini-Budget. Presenting the interim Budget for the remainder of the fiscal year 2022 on Tuesday, President and Finance Minister Ranil Wickremesinghe said VAT would be increased from 12% to 15% effective from 01 September. The original Budget presented in November last year also increased the cigarette prices by Rs. 5. more..

Sep 2 (DN) Europe, Japan even the Middle East countries now ask for companies who are ethically trading and with good governance and the German government is going to pass a law telling the German companies to make sure that their supplies are abiding by human rights, Shiham Marikar, SG,CEO of NCE said addressing the annual press conference of the 30th NCE Export awards held in Colombo recently. “Our objective is to get all our members with a certification to say that more..

Sep 2 (CT) Govt of SL’s face value money printing (FVMP) debt rose to its second highest value on Tuesday (30) due to a sustained lack of revenue. Consequently, GoSL’s FVMP debt increased by 0.38% (Rs 12,045 M) to Rs 3,195,701.89 million (Rs 3.195 T) on Tuesday. A Higher value than this took place on 8 July where GoSL’s FVMP debt was recorded at Rs 3.25 trillion. However, yesterday’s increase was non-demand pull inflationary as it was used to meet an external commitment. more..

Sep 2 (TM) Ceylon Chamber of Commerce (CCC) congratulated the Govt, led by the President, the Central Bank of SL (CBSL) Governor, Secretary to the Treasury, and other key officials on reaching a staff-level agreement with the IMF for a four-year Extended Fund Facility (EFF) programme. The Ceylon Chamber stated: “We hope that the next steps in gaining IMF Board approval for the EFF programme, and that disbursement of financing will be done in a timely manner.” more..

Sep 2 (TM) Following the announcement made by the IMF that it has reached a staff-level agreement with the SL authorities to provide an extended fund facility (EFF) of $ 2.9 billion to SL within a period of 48 months, Prez Ranil Wickremesinghe said that this should be a start for SL to reduce its debts and if possible, even eliminate its debts. Prez, who is also the Minister of Finance, Economic Stabilisation & National Policies, more..

Sep 2 (HT) It was an intense finish to the virtual knock-out game between SL and Bangladesh on Thursday night, with the hosts clinching a 2-wicket victory to book a berth in the Super Four stage of the Asia Cup 2022. Chasing 184 runs to win, SL faced a middle-order collapse but Kusal Mendis (60 off 37 deliveries) and captain Dasun Shanaka (45 off 33 deliveries) held fort for the side, with Chamika Karunaratne (16 off 10 balls) and Asitha Fernando (10* off 3 balls) providing the late bloom to more..

Sep 2 (TM) Two accused, who were in remand custody in connection with the assassination of former minister Jeyaraj Fernandopulle and 15 others, were acquitted and released yesterday. The verdict was delivered when the lawsuit was called before Gampaha Magistrate Sahan Mapa last morning. Accordingly, former Superintendent of Police (SP) of Gampaha Lakshman Cooray and ex-LTTE cadre Selvaraja Kirubakaran were ordered to be acquitted & released in the murder case. more..

Sep 2 (TM) National Authority on Tobacco and Alcohol (NATA) expressed satisfaction with the increased prices of cigarettes, but urged an even greater increase to discourage smoking. The prices of each category of cigarettes were increased by Rs. 3, Rs. 5, Rs. 10, and Rs. 15 each with effect from yesterday due to the increase in VAT. The minimum price of a cigarette, which was Rs. 55, has now increased to Rs. 60. NATA Chairman Dr. Samadhi Rajapaksa said that he is more than happy more..

Sep 2 (TM) A total of 322 persons belonging to 81 families in the Ratnapura, Kegalle, Monaragala, Anuradhapura, Trincomalee, and Puttalam districts, located in six provinces, have been affected due to inclement weather conditions in all parts of the country as of 6 a.m. yesterday (1). According to the DMC, a total of 222 persons belonging to 81 families in 13 Divisional Secretariat (DS) Divisions in the said districts have been affected due to inclement weather conditions including more..

Sep 2 (AD) Governor of the CBSL Dr. Nandalal Weerasinghe says that huge tax cuts in 2019 and extensive money printing to settle debts triggered the worst economic crisis in the history of the country. He also stated that the govt of SL and the CB had already defaulted even before the debt standstill was announced. He said the country has USD 7.6 billion in reserves, but when he took over as CB governor in April 2022 usable reserves more..

Sep 2 (FT) PM Dinesh Gunawardena yesterday formally informed the Parliament of the Staff-Level Agreement with the IMF for $ 2.9 billion Extended Fund Facility over a period of four years. “This is an important milestone in the attempt to revive the economy which is faced with a deep recession,” Gunawardena told the Parliament. He added that after this Staff-Level Agreement there is a requirement to obtain financial assurances about debt sustainability from the countries that more..

Sep 2 (CT) China has always encouraged the IMF and other international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to current difficulties, a spokesperson of the Chinese Embassy in SL said. The spokesperson made this remark on inquiry by local media about the IMF agreement and the China-SL bilateral debt issue. “As a traditional friendly neighbour of Sri Lanka and a major shareholder of the IMF, China has been more..

Sep 2 (FT) IMF yesterday called for quicker agreement by creditors on relief to ensure the crisis in SL doesn’t worsen to a humanitarian one. The appeal follows the IMF and the Govt reaching a Staff-Level Agreement (SLA) for a 48-month (four years) Extended Fund Facility (EFF) worth $ 2.9 billion. Debt relief from creditors is a critical condition for the IMF Executive Board to approve the program and release funds more..

Sep 2 (FT) When SL’s economic bungee jump without a bungee kicked off, it became clear that one of the fastest ways back to economic solvency had to be tourism as it is one of the prime sources of foreign exchange. Sri Lanka is beloved by tourists and at its peak attracted close to 2 million tourists per annum just before the Easter bombing. This was the period when Lonely Planet had crowned Sri Lanka as the the World’s Favorite Destination. After the tragic events of the Easter bombing, more..

Sep 2 (FT) I am hopeful that there will soon be convergence in the country and the incumbent Got, must endeavour to seek the buy in of as many stakeholders as possible, in order to implement and indeed sustain reform. The convergence I speak of, is not simply among and between, traditionally opposing politicians, but also professionals, and among and between the Govt, business and civil society. I have commenced the title with the need for speed and sensitivity and necessarily so. more..

Sep 2 (AD) The Colombo District Court today rejected a petition filed challenging the powers of the chairmanship of SLFP and amendments proposed to its constitution. The petition filed by SLFP’s executive committee member Montegue Sarachchandra seeking an interim order on a proposal to amend the party’s constitution was called before Colombo District Judge Poornima Paranagama. Appearing on behalf of the petitioners, Attorney-at-Law Shantha Jayawardena informed the court that more..

Sep 2 (AD) The Colombo District Court today rejected a petition filed challenging the powers of the chairmanship of SLFP and amendments proposed to its constitution. The petition filed by SLFP’s executive committee member Montegue Sarachchandra seeking an interim order on a proposal to amend the party’s constitution was called before Colombo District Judge Poornima Paranagama. Appearing on behalf of the petitioners, Attorney-at-Law Shantha Jayawardena informed the court that more..

Sep 2 (EN) As Sri Lanka goes through its worst economic crisis since independence, 6.3 million people are food insecure and 6.7 million people are not consuming adequate diets, a Situation Report for August by the World Food Programme (WFP) said. “Up to 6.3 million people are food-insecure, based on WFP and FAO’s Crop and Food Security Assessment Mission. These numbers could mount even further without urgent intervention,” the statement said. more..

Sep 2 (EN) Reduced power cuts will be imposed around Sri Lanka over the weekend (3, 4) and on Monday (5), PUCSL Chairman Janaka Ratnayake said. All groups A, B, C, D, E, F, G, H, I, J, K, P, Q, R, S, T, U, V and W will experience one hour of power cuts during the night time on Saturday and Sunday, and two hours on Monday. One Monday, power cuts will be one hour in the day time and one hour in the night. SL’s power cut durations fluctuated over the past few weeks with the sudden breakdown more..

Sep 2 (DM) LITRO Gas Lanka said the price of a domestic LITRO gas cylinders including the 12.5kg will be reduced by Monday, its chairman Muditha Peiris said. He said the prices would be reduced according the introduced new price formula. He however did not indicate as to what would be the revised price, but said the price would be lower than the other gas selling prices in the country. He said the company had completed distributing five million gas cylinders across the country and more..

Sep 2 (TM) National Water Supply and Drainage Board (NWSDB) is to send a list of very important persons (VIPs) comprised of MPs who have run up arrears in their water bills, to Speaker of Parliament Mahinda Yapa Abeywardana, following a discussion held with the latter yesterday. NWSDB informed Speaker Abeywardena about the water bill-related arrears of VIPs during the discussion held yesterday. According to the discussion held with the Ministry of Public Administration Secretary, more..

Sep 2 (AD) A water cut will be imposed for 18 hours in several areas in Colombo and its suburbs tomorrow (3), NWSDB says. Accordingly, the water cut will be effective for the areas of Colombo, Dehiwala-Mount Lavinia, Kotte, Kaduwela MC areas, Maharagama, Boralasgamuwa, Kolonnawa urban council areas, Kotikawatta and Mulleriyawa Pradeshiya Sabha areas, and Ratmalana and Katubedda. The water supply will be interrupted at 8 a.m. tomorrow (3) and will be restored at 2 a.m. on Sunday (4), accordingly. more..

Sep 2 (AD) Second Reading of the Appropriation (Amendment) Bill for the remainder of the fiscal year 2022 was passed in Parliament with amendments today by a majority of 115 votes. Announcing the results of the division which followed the conclusion of the debate on the Second Reading of the Interim Budget 2022, the Speaker said that 120 lawmakers had voted in favour while 05 voted against. Meanwhile, 43 MPs abstained from voting. The vote on the Second Reading was sought by NPP MP Anura Kumara Dissanayake. more..

Sep 2 (Island) Successive govts had used state owned enterprises as job banks for henchmen and the same politicians are now complaining that those venture were making losses, head of National Employees Union of the CPC, Ananda Palitha, said. He said that the govt was trying to sell the CEB, and CPC, stating that they were making huge losses. “The same people who overstaffed these institutions and bankrupted them are now claiming they are making losses. They can still be turned around if proper action is taken.” more..

Sep 2 (EN) Sri Lanka is planning to liberalize an aviation fuel monopoly and is expecting to appoint up to three players to distribute fuel in the domestic market, Power & Energy Minister Kanchana Wijesekera said. “If there are suppliers who could use their own funds they can use the CPC and CPSTL facilities for a service fee and supply to the airlines,” Minister Wijesekera said at a forum organized by JAAR Corporate solutions support by Friedrich Naumann Foundation (FNF). more..

Sep 2 (EN) SL’s main opposition the Samagi Jana Balawegaya (SJB) and a breakaway faction of the ruling Sri Lanka Podujana Peramuna (SLPP) will sit out a vote on Prez Ranil Wickremesinghe’s interim budget for 2022, the two parties said. SJB MP Thushara Indunil Amarasena and SLPP (dissident) MP G L Peiris announced the two parties decision to abstain from voting in separate press briefings on Friday September 02, hours before the vote is to be taken. more..

Sep 2 (CT) Officers attached to the Central Intelligence Directorate of SL Customs seized more than 140 MT of scrap metal, valued over Rs 60 million, before it was to be shipped out of the country illegally. The export of scrap metal had been restricted by the Govt on 30 Aug. Customs Media spokesperson, noted that the contents of the 20-foot container were declared to customs as natural rubber. “The scrap metal was about to be shipped to India when it was intercepted based on collective intelligence and suspicion. more..

Sep 2 (Island) The people’s representatives, in Parliament, must now work together for one year with the blessings of the people to save the country from the abyss it has fallen into, Chairman of the National Movement for Social Justice (NMSJ), Karu Jayasuriya, said at the fifth district-wise conference, titled A New Constitution for a Better Country, organised by the NMSJ and the Collective for National and Religious Harmony. The meeting was held in Ratnapura. more..

Sep 2 (CI) Are you watching the SL men's side play this year? I guess, unless you are invested in their fortunes, there is no obvious reason to. They are ranked seventh in Tests, eighth in ODIs, and eighth in T20Is. They are very decidedly not a world-beating team. But in terms of fun had, surprises delivered, heart-stopping moments provided, they are living on the edge, folks. If you're a pessimist, they are a side on the verge of falling into cricketing irrelevance, more..