- Joint Apparel Assn Forum’s Felix Fernando says Government’s decision to increase corporate income tax on exporters to 30% will be counterproductive to raise tax revenue: several other private sector chambers also speak out against the tax increases.
- Civil activists Ravi Kumudesh and Ven. Pahiyangala Ananda Sagara Thera file FR petition against CB Governor Dr. Nandalal Weerasinghe, former Finance Minister Ali Sabry, Treasury Secretary K.M.M. Siriwardena, and the Monetary Board, challenging declaration that officially ‘bankrupted’ the nation: petition to be taken up today by the Supreme Court.
- World Bank report says Sri Lanka’s GDP is expected to contract by 9.2% in 2022: further contraction of 4.2% expected in 2023: revision of positive growth of 4.5% estimate, done after debt default: however, CB Governor Dr Nandalal Weerasinghe says “country has shown economic stabilisation and there will be a significant economic recovery next year”.
- Central Bank data shows Workers’ remittances dropped by a massive 43.8% (YoY) to USD 2,574 mn for the first 9 months of 2022.
- State Minister of Investment Promotion Dilum Amunugama says the minimum deposit for the 10-year Golden Paradise visa scheme will be increased from USD 100,000 to USD 200,000 as the programme had started gaining attention among investors.
- President Ranil Wickremesinghe says that he intends to reduce the number of council members for local government bodies from 8000 to 4000 and also implement the Jana Sabha programme.
- State Finance Minister Ranjith Siyambalapitiya says foreign reserves have dwindled to USD 1.8 bn and the amount that can be used is only USD 300 mn: hands over “soft” liquor permits to restaurants to promote tourism.
- Transport Minister Dr Bandula Gunawardena requests anyone who knows how to free the country from its current economic crisis, to come forward: also says if anyone can do so, that would bring them glory in this world and a blessing in the next.
- President Ranil Wickremasinghe says a proposal would be made to appoint a Parliamentary Select Committee to decide on the Parliamentary voting system: also says if this Committee fails to come up with a decision by July 2023, a referendum would be held.
- Lists showing names of several key figures in the country who have allegedly “invested” funds with well known socialite Thilini Priyamali, go viral in social media: some deny such reports: Priyamali remanded till 19th October by Fort Magistrate over allegedly misappropriating over Rs.226 mn.
Sri Lanka Original Narrative Summary: 10/10
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