- KPMG Tax and Regulatory Principal Suresh Perera says that, in line with the IMF conditions and Cabinet approval, SL authorities will be ready to impose Wealth Tax, Inheritance Tax, Gift Tax and Capital Gains Tax from 1January’25 onwards: analysts point out that such capital taxes are considered “draconian”, and have been discontinued worldwide many decades ago.
- State Minister of Defence Premitha Bandara Tennakoon says Defence authorities have ordered a crackdown on those responsible for causing deliberate forest fires: adds that fire belts will be set up at the earliest to prevent further infernos.
- Justice Minister Wijeyadasa Rajapakshe says that the insurance company relating to the MV X-press Pearl disaster has expressed willingness to pay USD 878,000 plus LKR 16 mn for the damage caused by the X-Press: previously, several politicians had stated that Sri Lanka stands to receive around USD 6,000,000,000 (six billion US dollars) as compensation for the disaster.
- State Finance Minister Shehan Semasinghe says that out of the 15 lakhs of beneficiaries who have been selected, the Welfare Benefits Board will disburse payments related to the month of July to the banks on Monday for the 8 lakhs of beneficiaries whose information has been confirmed correctly.
- Defence Ministry spokesman says that approval has been granted for the Chinese vessel ‘Shi Yan 6’ to carry out research on Sri Lankan waters with NARA, based on a request from NARA & the Foreign Ministry.
- Johnson Liu, CEO of Hambantota International Port Group of the Hambantota International Port says the HIP has joined hands with the Ministry of Youth Affairs, Small Enterprises Development Division to bring about progressive change for entrepreneurs in the Hambantota District: asserts the HIPG is creating meaningful opportunities for small-scale entrepreneurs in the region.
- Ministry of Finance officials say the Treasury is preparing to create an Asset Management Company (Bad Loans Bank) to take over the toxic assets of the banks and ring-fence these assets for the banks to move forward: also say this proposal was approved by the last budget, but progress was very slow.
- Export Development Board’s Director (Export Agriculture) Janak Badugama says the EDB is to introduce the first geographical indication (GI)-certified (Ceylon) cinnamon products to the market by October’23: asserts that achieving the certificate was a “herculean task”.
- University Grants Commission Chairman Prof Sampath Amaratunga says that although there should be 12,992 university lecturers, currently there are only 6,548: laments there is a drastic brain drain and the university teachers and non-academic staff were leaving the country en masse.
- Three top bowlers, Dushmantha Chameera, Wanindu Hasaranga and Lahiru Kumara, ruled out from the Asia Cup Cricket tournament, due to injuries: as the defending Asia Cup champions, Sri Lanka to meet Bangladesh on August 31 at Pallekele, Kandy.
