- The government introduces the Bill for the establishment of the Commission for Truth, Unity, and Reconciliation in Sri Lanka via an official Gazette announcement, outlining its powers and focus on implementing recommendations for reconciliation. The legislation, titled the “Commission for Truth, Unity, and Reconciliation in Sri Lanka Act, No. of 2024,” defines the Commission’s role in overseeing and executing these recommendations.
- Construction industry faces a steeper decline than anticipated, dropping by 14.9% instead of the earlier forecasted 7.9% in the past year. A projected recovery is expected, with the industry set to rebound with an average annual growth of 5.6% between 2024 and 2027, following the low base of 2022 and 2023.
- Cabinet approval has been granted to sign a Memorandum of Understanding (MoU) between Sri Lanka, the United Kingdom, and Northern Ireland for cooperation in the Maritime States Partnership Programme.
- MoF issues a clarification regarding Tax Identification Numbers (TINs), emphasizing that possessing a TIN does not automatically imply liability for income tax. Only individuals aged 18 and above, whose income surpasses the annual tax exemption limit of Rs. 1.2 million, are obligated to pay income tax.
- Minister of Agriculture Mahinda Amaraweera announces plans to remove Value Added Tax (VAT) on chemical fertilizers: states that the VAT exemption is planned to take effect from the upcoming Yala season, which typically commences in March or April.
- Lanka Milk Foods (CWE) Plc streamlined its dairy business by consolidating four subsidiaries—Ambewela Products Ltd., United Dairies Lanka Ltd., Ambewela Livestock Company Ltd., and Pattipola Livestock Company Ltd.—through a Rs. 5 billion shareholding restructuring. All shares held in these subsidiaries were transferred to Lanka Dairies Ltd.
- Cabinet approval has been granted to proceed with the proposed Sri Lanka-Thailand Free Trade Agreement (FTA). The ninth round of negotiations on the proposed FTA was held in Colombo from 18-21 December 2023.
- Industry and Health Minister Dr. Ramesh Pathirana says that preparations are underway to digitize procurement activities to enhance transparency in the procurement of medicines for hospitals.
- Cabinet approves the lease of 61 fuel storage tanks in Trincomalee’s China Bay Harbour for 50 years. Trincomalee Terminal Private Limited will spearhead the phased project, starting with renovating nine tanks, laying a 1.75-kilometer pipeline, and constructing supporting facilities under a Build, Operate, and Transfer (BOT) model, structured across 16 years and seven phases.
- Zimbabwe is set to tour Sri Lanka for a series of three One Day Internationals (ODIs) and three Twenty20 Internationals (T20Is), all to be held at Colombo’s R. Premadasa Stadium. The ODIs will take place on the 6th, 8th, and 11th of January, while the T20i matches will be played on the 14th, 16th, and 18th of January 2024.
