- Opposition political parties agree to take “all possible measures within the constitutional framework” to defeat the Government’s alleged efforts to postpone the Local Government elections.
- President Ranil Wickremesinghe says immediate measures are being taken to create an investment-friendly environment in Sri Lanka: also says laws will be re-enacted to encourage foreign investments.
- CB Governor Weerasinghe says there’s no alternative other than IMF; after 7 months of seeking IMF assistance, no funds received yet from anyone: staff level agreement not disclosed: massive taxes imposed: interest rates, “money printing” and inflation up to astronomical levels: debt defaulted: projects stopped: growth down to minus 8 4%.
- Renewable Energy Developers, Apparel Exporters and Motor Traders warn of serious setbacks if corporate taxes are increased to 30% from 14%: Ceylon Chamber of Commerce has however been clamouring for tax increases since 2020.
- Foreign Affairs State Minister Tharaka Balasuriya says Kazakhstan is keen to set up an oil refinery and bunkering facility in Hambantota.
- President’s Office says “Itukama Covid-19 Fund” (chaired by CB Governor Dr Weerasinghe) has been wound up: remaining funds transferred to the President’s Fund.
- ASPI falls 1.7% to a 7-week low of 8737 points: turnover also slumps to its lowest since the last week of August: analysts say economic uncertainties loom over new tax hikes: tax hikes attributed to impending IMF programme.
- Private Bus Associations to launch countrywide bus strike from 25th October: say they are unable to pay the leasing installments due to increase in interest rates: also object to the seizing of buses due to non-payment of leases.
- Director General of Sports gives an undertaking to Court of Appeal that elections for the Sri Lanka Football Federation will be held within 69 days.
- Sri Lanka win ICC Men’s T20 World Cup – First Round Group “A” match against Netherlands, by 16 runs: qualify for Super-12 stage: SL -162/6: NED – 146/9.
