Tuesday, April 23, 2024

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Sri Lanka Original Narrative Summary: 01/01

  1. CPC revises fuel prices following the VAT increase: Petrol 92 increased by Rs.20 per litre to Rs.366: Petrol 95 increased by Rs.38 to Rs.464: Auto Diesel increased by Rs.29 to Rs.358: Super Diesel increased by Rs.41 to Rs.475: Kerosene reduced by Rs.11 to Rs.236: in March’22, Petrol 92 was Rs.177 per litre (now Rs.366), while Auto Diesel was Rs.121 per litre (now Rs.358), with consumption of fuel being 50% higher than at present.
  2. Ceylon Tobacco Co increases prices of cigarettes under 4 categories following the increase in Excise Duty & VAT: prices increased by Rs.5, Rs.15, Rs.20 & Rs.25 per stick.
  3. National Water Supply & Drainage Board to increase the Water tariff by 3% from Jan’24, in line with the VAT hike.
  4. Inter-Provincial Private Bus Assn, All Island School Van Operators Assn, and All-Island Three-Wheeler Drivers’ Union say their fares would have to increase in Jan’24 following the imposition of VAT at 18%.
  5. Director of the State Revenue Unit of the President’s Office K K I Eranda says the Govt is expecting Rs.1,400bn from VAT in 2024, after broadening the base and raising the rate: also says Rs.600bn was expected from VAT in 2023, but only about Rs.450bn had been collected.
  6. Health Minister Dr Ramesh Pathirana says Govt capital investment was absent in 2022 & 2023: also says Govt specifically directed its efforts towards debt restructuring and settlement during that period: further says steps are underway to regulate prices by importing rice & eggs: emphasises the VAT rate increase is only 3% & therefore the overall impact may not be as significant as anticipated.
  7. Police Spokesman says a Policeman was killed & another injured during a shooting incident near a hotel in Weligama while Police were conducting a raid.
  8. UAE Govt informs the Embassy of SL in Abu Dhabi that 44 Sri Lankans in prisons in UAE have been pardoned by a Royal order, on the occasion of the 52nd National Day of the UAE that fell on 2nd Dec’23.
  9. Ministry of Public Security says a total of 20,797 persons have been arrested and 11.6 kgs of heroin, 8.3 kgs of ICE & 72,272 narcotic pills have been seized during the past 14 days of the ‘Yukthiya’ operation.
  10. Total storage capacity of SL’s hydropower reservoirs rises to 97.8%: capacities of Victoria & Randenigala Reservoirs at 100%: accordingly, the country’s present energy requirements can now be met with hydropower: hence, consumers can expect a downward revision of electricity tariffs in the 1st quarter of the new year.

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