Treasury recommends that the system to allow SL migrant workers to import electric vehicles on concessionary terms be scrapped as it is not viable: says the Forex remittances gained through the scheme were not adequate and taxes imposed on the imports were insufficient.
Peradeniya University Economics Professor Wasantha Athukorale says the value of pawned Gold has shot up from Rs.250bn to Rs.650bn by the middle of 2023: also says that indicates people are using their savings to meet their daily consumption expenditure.
Finance Ministry says a pledge loan scheme under a concessional interest rate for small and medium scale paddy millers has been implemented from 1st September for paddy purchasing in 2023 Yala Season: also says the move will help to maintain a reasonable price to farmers and strengthen the SME paddy millers.
National Building Research Organisation issues landslide warnings for the districts of Kegalle, Kalutara, Ratnapura and Galle.
State Ministers complain to President Ranil Wickremesinghe that they have no functions to discharge due to their Ministerial colleagues usurping them: also complain that they have not been issued with good vehicles or other facilities they are entitled to.
Exporters to be required to pay VAT upfront and claim their respective taxed funds after proceeds are brought back and declared in the country, according to a proposed Bill: the new law will replace the existing Simplified Value Added Tax (S-VAT) scheme whereby the state bears the tax cost temporarily until the proceeds are declared voluntarily by the exporter: the new Bill is a part of the IMF programme which the Ceylon Chamber of Commerce has strongly supported.
Sources close to MP Nimal Lanza says dissident SLPP MP Anura Priyadarshana Yapa is set to head a new Alliance initiated by MP Lanza: the proposal to hand over all responsibilities to MP Yapa including the power of carry out discussions with various parties was made by MP Lanza and Minister Susil Premajayanth.
Former President Maithripala Sirisena says there could be a “Maithri era” once again, and that the SLPP is no match for the SLFP: Sirisena has already declared himself a Candidate at the next Presidential election which is due in less than an year.
Central Bank’s Weekly Indicators show that credit to Govt from the banking system had increased by an alarming Rs. 288bn in July’23: analysts express grave concern about this development in the light of the unilateral debt default and huge increase in tax rates.
Schools Rugby League Champions St. Peter’s College beat St. Joseph’s College by 16-11 in the 2nd semi-final of the Schools Rugby President’s Trophy Knock-out Tournament: accordingly, St. Peter’s College will meet Isipathana College in the final.