- Japanese giant Mitsubishi Corporation to wind up operations in Sri Lanka after 60 years: move causes big shock to private sector: Sri Lanka was one of Mitsubishi’s first overseas offices.
- Trade unions of petroleum, ports, water supply, banking, electricity, health and education hold a massive demonstration jointly in Colombo: urge Govt to revoke the tax revisions.
- Latest coal tender runs into problems with the Indonesian supplier: supplier said to request a change to a crucial term that Lanka Coal Company has deemed unacceptable say authoritative sources: dispute likely to cause delays in procuring crucial coal supplies beyond March.
- Police inform Aluthkade Magistrate’s Court that the death of prominent businessman Dinesh Schaffter was caused by ingestion of cyanide: post-mortem examination report said to have also concluded that the injuries which have been caused by strangulation were not fatal.
- Elections Commission said to have requested the Treasury to release Rs.770 mn for LG poll expenditure in February: President Ranil Wickremesinghe instructs Treasury Secretary Mahinda Siriwardana to only provide for essential Govt expenses in order to maintain public services until the revenue situation improves.
- SJB MP and Economic Guru Harsha de Silva says the Govt would not be able to collect Rs.100 bn in PAYE tax, as envisaged: challenges President to explain how new PAYE tax revisions would add an extra Rs.100 bn to state revenue.
- Opposition Leader Sajith Premadasa says the Cabinet insisted the
country was bankrupt: also says the Govt can’t come out of the crisis by stifling economic activity; insists good diplomacy is needed to bring in FDI: complains that SMEs can’t operate at 30% interest rates. - IMF says its approval for the much-touted USD 2.9 bn loan to bail out Sri Lanka will depend on assurances on debt relief from its bilateral creditors: assures that as soon as adequate assurances are obtained and remaining conditions are met, the EFF can be presented to the IMF’s Board for approval: analysts say IMF negotiations have now entered 49th week: no funding from IMF or any other bilateral party during this period and economy contracting severely.
- SriLankan Airlines to renew commercial operations to China in April 2023: thrice weekly service each to Shanghai, Beijing and Guangzhou planned.
- Appeal Court extends interim order preventing the imposition of PAYE tax on salaries of judges till petition is supported.
