- Analysts say 18 months has now elapsed since the hurriedly announced Debt Default: point out that the forex received during that period was only USD 333 mn from the IMF, with very tough conditions: state that the only Debt that has been restructured upto now is that of the helpless EPF Members who have been hit with a cleverly-disguised ‘haircut” in their interest for 2022 by a massive 20%: further point out that foreign creditors haven’t suffered a single cent as a “haircut”, so far.
- Reliable political sources say a proposal to abolish the Presidential system and revert to a Parliamentary system where the PM has executive powers is under serious consideration among the upper echelons of power: speculation mounts that such a proposal has been sent from the President’s Office to the Legal Draftsman’s Office.
- Legal sources say the Parliamentary seats of 25 MPs are in danger of being lost, consequent to the Supreme Court decision where SLMC MP & Minister Nazeer Ahmed’s Parliamentary seat was vacated as a result of the MP crossing over from his original Party.
- Ceylon Bank Employees Union General Secretary Ranjan Senanayake says the Govt is preparing to divest the ownership of 6 State Banks, including the Bank of Ceylon, People’s Bank and National Savings Bank.
- State Minister of Water Resources Sanath Nishantha says water charges will have to be increased in keeping with the electricity charges hike.
- State Minister of Indigenous Medicine Sisira Jayakody reveals plans to introduce cannabis cultivation as a component of the export industry once the proposal gains approval from the Cabinet: further clarifies the plan would be to utilize cannabis as a medical resource rather than for recreational purposes.
- Exits of “hot-money” investments from SL Govt Securities jumps by a significant 50% in the week ending 13th October’23 to USD 24 mn from USD 16 mn in the previous week.
- SL Accounting firm of the PwC network announces exit from the global PwC network: says the firm will join the Deloitte network, with effect from 28 October’23: the PwC network will however maintain a presence in the region.
- International, high-speed passenger ferry service between Nagapattinam on the eastern coast of Tamil Nadu and Kankesanthurai in the northern province of Sri Lanka, resumes from 14 October’23, after a gap of nearly 4 decades: Indian PM Narendra Modi & President Ranil Wickremesinghe highlight the importance of launching the ferry service between the two nations.
- All-rounder Chamika Karunaratne replaces captain Dasun Shanaka for the rest of SL’s Cricket World Cup campaign: replacement made necessary after Shanaka suffered a right thigh muscle injury during SL’s 2nd World Cup match against Pakistan on Sunday.
