- President Ranil Wickremesinghe says the newly imposed VAT of up to 18% on the IT sector will not pose a burden on the industry: Cabinet also grants approval to reduce the VAT registration threshold from present Rs.80mn per annum to Rs.60mn with effect from 1st Jan’24.
- IMF completes SL’s 1st review under the 48-month EFF arrangement, allowing the disbursement of about USD 337 mn, bringing the total IMF disbursements since April’22 to about USD 670 mn: in comparison, in the 18-month period before reaching out to the IMF, SL had received USD 4,950 mn from bilateral creditors: IMF also says SL has met all but one performance criteria, all but one indicative target, and met (or implemented with a delay), most structural benchmarks due by end-Oct’23.
- IMF warns SL’s bailout program carries serious risks of implementation due to SL’s track record of reform implementation and the challenging political & social situation: even in March’23, the IMF had warned of Financial risks as a result of SL’s weak capacity to repay, Operational risks from social unrest, and IMF’s Reputational risk if the SL public perceives the program as being too tight.
- IMF Deputy MD Kenji Okamura says SL’s “agreements-in-principle” with Official Creditors Committee & EXIM Bank of China on debt treatments are consistent with EFF targets: also lists key programme priorities as – (a) advancing revenue mobilisation, (b) aligning energy pricing with costs, (c) strengthening social safety nets, (d) rebuilding external buffers, (e) safeguarding financial stability, (f) eradicating corruption, and (g) enhancing governance.
- Engineer Athula Galketiya appointed as the new Chairman of Airport and Aviation Services, succeeding General G A Chandrasiri.
- Energy Minister Kanchana Wijesekara says Cabinet has granted approval for a Power Purchase Agreement with United Solar Group of Australia to invest in a 700 MW Solar Power Project with a 1500 MWh of Battery Energy Storage System: project to be installed on the surface of Poonakary Tank in Kilinochchi, with an investment of USD 1,727 mn.
- President Ranil Wickremasinghe appoints a 3-Member Committee headed by retired Supreme Court Justice Anil Gooneratne to look into the execution of Edward Henry Pedris, 27, in 1915, based on a decision given by a court martial during British Colonial rule: Pedris was charged of rioting & treason against the Colonial administration, convicted of treason, & executed on 7 July 1915, without any appeal hearing.
- Poet & teacher from Mannar, Ahnaf Jazeem, 27, who was arrested and detained by the Terrorism Investigations Division in May 2020 under the Prevention of Terrorism Act acquitted by the Puttalam High Court due to lack of evidence.
- SL joins 97 other nations in calling the UN Security Council to declare an immediate ceasefire in the Palestinian territory of Gaza: however, the US vetoes the move despite an overwhelming 13 of the 15 Security Council members voting ‘for’ the resolution with UK abstaining.
- Sports Minister Harin Fernando revokes the appointment of an Interim Committee for SL Cricket: also writes to the International Cricket Council seeking observations on the Auditor General’s report on SLC.
