February 18, Colombo (LNW): The Minister of Foreign Affairs of the Maldives, Abdulla Khaleel, is set to make an official visit to Sri Lanka from February 18 to 21, 2025.
This visit is expected to enhance bilateral relations between the two nations, with a series of key meetings on the agenda.
During his time in Sri Lanka, Foreign Minister Khaleel will engage in courtesy meetings with President Anura Kumara Disanayaka and Prime Minister Dr. Harini Amarasuriya, marking a significant opportunity for diplomatic exchanges between the leaders.
These discussions are anticipated to cover a broad range of topics, including strengthening regional cooperation, trade, and mutual interests.
The Maldivian delegation will also hold in-depth talks with Sri Lanka’s Foreign Minister, Vijitha Herath, at the Ministry of Foreign Affairs, Foreign Employment and Tourism.
These official discussions will focus on advancing cooperation on matters of mutual concern, with particular emphasis on regional security and economic collaboration.
Accompanying Foreign Minister Khaleel on this important trip will be Fathimath Inaya, the Foreign Secretary of the Maldives, ensuring that the diplomatic team is well-equipped for the high-level discussions that will take place during their stay.
February 18, Colombo (LNW): Showers or thundershowers may occur at several places in Galle, Matara, Kaluthara and Rathnapura districts in the evening or night, and a few showers may occur in Uva province and in Ampara and Hambantota districts, the Department of Meteorology said in its daily weather forecast today (18).
Mainly dry weather will prevail over other areas of the island.
A cold weather can be expected in the Northern, North-central provinces and Trincomalee district during the early morning.
Misty conditions can be expected at some places in Western, Sabaragamuwa and Central provinces and in Galle, Matara and Badulla districts during the morning.
The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers may occur at several places in the sea areas off the coasts extending from Pottuvil to Kaluthara via Hambantota and Galle. Mainly fair weather will prevail over other sea areas around the island.
Winds:
Winds will be north-easterly and speed will be (20-30) kmph. Wind speed can increase up to 40 kmph at times in the sea areas off the coast extending from Colombo to Mannar via Puttalam and from Matara to Pottuvil via Hambantota.
State of Sea:
The sea areas off the coasts extending fromColombo to Mannar via Puttalam and from Matara to Pottuvil via Hambantota will be fairly rough at times.
February 17, Colombo (LNW): The latest Colombo Tea Auction witnessed a dip in buying intensity, influenced by an increase in supply and qualitative factors, according to a report by Forbes and Walker Tea Brokers.
This week’s total auction offerings amounted to 5.9 million kilograms (M/Kgs), reflecting a decrease from the 6.4 M/Kgs recorded over the past two to three weeks. The Ex-Estate category remained steady at approximately 0.9 M/Kgs. However, the overall quality of teas did not show any notable improvement, with only a few seasonal varieties available.
In the Best Western segment, a handful of select BOP invoices experienced a significant price appreciation due to superior quality and specific inquiries, whereas others fluctuated based on quality variations.
The corresponding BOPFs saw a broader range of offerings, with prices rising by Rs.100 per kilogram and above for the higher-quality teas, while others remained inconsistent.
In the Below Best and Plainer categories, BOPs dropped by Rs.20-40 per kilogram, and the Below Best BOPFs showed irregular trends. Clean leaf BOPFs at the lower end held firm, but others declined by Rs.20 per kilogram.
The Nuwara Eliya BOP/BOPFs were sold at steady to higher prices due to superior quality. Meanwhile, Uva/Uda Pussellawa BOPs remained barely stable, and their BOPF counterparts showed irregular patterns. A selection of Uva teas managed to fetch firm to slightly higher prices.
High and Mid Grown CTC teas had limited availability in the BP1 category. Among the PF1 High Growns, premium teas showed stable prices, while others tended to ease. The Low Grown BP1s were mostly unsold, and PF1s declined by Rs.20-40 per kilogram.
Market activity from major shipping destinations varied. Shippers to the UK, South Africa, and the continent showed reduced interest, whereas fair demand was observed from Japanese buyers. The CIS region saw consistent activity, though primarily at lower price levels compared to previous weeks.
Low Grown teas accounted for 2.6 M/Kgs and saw moderate demand. Within the Leafy and Semi-Leafy categories, Select Best and Best BOP1s experienced a decline, and bolder varieties remained irregular. The OP1s also trended downward, while OPs and Below Best categories showed a slight drop. The high-priced PEK/PEK1s weakened, and the Best and Below Best varieties followed suit, while lower-end teas remained steady.
In the Tippy category, some Select Best FBOPs held their previous price levels, while others declined. The Best and Below Best varieties, along with bolder types, also weakened, but lower-end teas remained stable. Select Best and Best FF1s saw price declines, whereas the bottom-tier teas were steady.
For premium teas, Very Tippy varieties held firm, while the Best and Below Best segments remained stable to slightly dearer. Lower-tier teas exhibited irregular trends based on quality. Leafier varieties maintained their previous price levels, contributing to a mixed market performance overall.
February 17, Colombo (LNW): Strategic Insurance Brokers (SIB) has called on President and Minister of Finance, Anura Kumara Dissanayake, to review the Cabinet’s recent decision on the National Insurance Trust Fund (NITF) tender for reinsurance covering strikes, riots, civil commotion, and terrorism. Their appeal comes in light of legal concerns over the eligibility of foreign brokers operating in Sri Lanka.
A significant legal precedent was set when Colombo District Judge Sandun Vithana issued a permanent injunction barring unregistered foreign entities from offering insurance services in Sri Lanka. This ruling came after SIB sought legal action against JB Boda & Co. of Singapore, which had allegedly been bidding for major insurance tenders without proper registration.
Senior lawyers Romesh de Silva PC and Chanaka de Silva PC, representing SIB, presented evidence showing that JB Boda had unlawfully secured tenders, including those awarded by government institutions like NITF. As a result, an enjoining order was granted against JB Boda, preventing it from acting as a broker in Sri Lanka.
Following this ruling and a Procurement Appeals Board recommendation against the irregular awarding of the contract, the previous Cabinet reversed its decision and reassigned the tender to SIB, which had made the most responsive bid.
JB Boda subsequently appealed to the Civil Appellate High Court, but its case was dismissed, and the Supreme Court declined to grant leave for further appeal. These court rulings effectively blocked foreign entities from misrepresenting themselves as brokers and competing for state contracts.
The case was seen as a landmark judgment in Sri Lanka’s insurance industry. JB Boda had argued in court that it was entitled to function as a broker despite not being registered locally. However, Civil Appellate High Court Judge Sampath B. Abeyakoon ruled against the firm, affirming that foreign companies must comply with Sri Lankan regulations if they wish to operate in the insurance sector.
A similar issue has now arisen with the NITF’s recent awarding of a reinsurance tender. SIB has formally objected to the Cabinet’s decision, raising concerns about legal and procedural violations. They argue that critical information about the eligibility of the awarded company, Tysers Insurance Brokers, was either misrepresented or withheld from decision-makers.
In response, SIB has urged President Dissanayake to:
Instruct the Cabinet to revisit the unlawful awarding of the tender to Tysers.
Revoke the decision made on December 23, 2024, ensuring compliance with Sri Lankan law.
Direct NITF to suspend any contractual agreements with Tysers pending a full review.
SIB warns that allowing an unregistered foreign entity to operate in the insurance sector could undermine local firms and professionals. Industry experts stress that adherence to local regulations is crucial to maintaining public trust and protecting the domestic market.
As this dispute unfolds, attention is now focused on the government’s next move—whether it will uphold legal standards and safeguard the interests of Sri Lanka’s insurance industry.
February 17, Colombo (LNW): The term of Acting President of the Court of Appeal, Justice Mohammed Thahir Laffar, has been officially extended, according to a statement from the President’s Media Division (PMD).
Justice Laffar took the oath of office for the extended term in a ceremony held today, 17th February, at the Presidential Secretariat.
The solemn occasion was attended by President Anura Kumara Dissanayake, who administered the oath, along with Dr. Nandika Sanath Kumanayake, the Secretary to the President, who was present to witness the event.
February 16, Colombo (LNW): The Department of Meteorology has issued a Heat Index Advisory for tomorrow (18), warning of elevated temperatures across several regions, including the Northern, North-central, North-western, Western, and Southern provinces, as well as the Rathnapura district.
According to the advisory, the heat index, which refers to the temperature that the human body actually experiences, is expected to reach ‘caution’ levels in some areas within the affected regions.
This means that prolonged exposure to high temperatures could lead to fatigue, and continued physical activity could result in heat cramps.
In light of these conditions, the public is urged to take precautions. Authorities recommend staying hydrated, seeking shade whenever possible, and limiting strenuous outdoor activities to prevent overheating.
Additionally, people are encouraged to check on vulnerable individuals such as the elderly and those in poor health, avoid leaving children unattended in vehicles, and wear light, loose-fitting clothing, preferably white or light-coloured, to minimise the effects of the heat.
The Heat Index is calculated based on a combination of relative humidity and maximum temperature, reflecting the actual conditions felt by the body. This forecast is based on data from global weather prediction models and is specifically prepared for the following day’s conditions, rather than predicting the maximum temperature alone.
February 17, Colombo (LNW): The Second Reading of the Local Authorities Elections (Special Provisions) Bill has successfully passed in Parliament with overwhelming support.
A total of 187 members cast their votes in favour of the bill, with no votes opposing it, securing the required special majority for its advancement.
February 17, Colombo (LNW): The Court of Appeal today heard preliminary objections raised by the Attorney General regarding a petition seeking to revoke the Parliamentary seat of Minister of Public Security, Ananda Wijepala.
The petition, lodged by Renuka Perera, the Administrative Secretary of the Sri Lanka Podujana Peramuna (SLPP), prompted a legal dispute before the Acting President of the Court of Appeal, Mohamed Lafar Tahir, and Justice K.M.S. Dissanayake.
In the proceedings, the Additional Solicitor General, representing the Attorney General, argued that the petition was flawed due to the omission of critical stakeholders as respondents.
Specifically, the President’s Chief of Staff, who is appointed by the President’s Secretary on the President’s directive, was not included in the petition.
The Additional Solicitor General stressed that the absence of the President’s Secretary in the case was a significant legal oversight, rendering the petition invalid and unable to proceed.
Given these concerns, the Attorney General’s representative requested that the petition be dismissed outright, without further examination.
On the other side, Attorney Upul Kumarapperuma, representing Minister Wijepala, contended that the President personally appointed the Chief of Staff and argued that such an act could not be challenged in the Court of Appeal through a writ petition.
He further questioned the court’s jurisdiction over the matter and requested its dismissal on the grounds that it fell outside the court’s purview.
Meanwhile, Attorney Vishva Perera, appearing for the petitioner, clarified that the challenge was not regarding the appointment of the Chief of Staff, but rather the eligibility of Minister Wijepala to sit in Parliament and cast a vote.
Perera emphasised that the primary concern was whether the minister met the legal requirements to hold his parliamentary seat.
Taking these arguments into account, Acting President of the Court of Appeal Mohamed Lafar Tahir noted the raised preliminary objections and decided that a ruling on the matter was necessary before the case could progress further.
The court then instructed all involved parties to submit written submissions on the objections by 18 March 2025, to facilitate a decision on whether the petition could move forward.
February 17, Colombo (LNW): Sri Lanka’s economic reform agenda is centred around bolstering fiscal discipline, with a strong focus on revenue-based consolidation.
This strategy arises from the nation’s historically low tax revenue levels, which stood at just 7.3 per cent of GDP in 2022, one of the lowest in the world.
The government is determined to address this gap and ensure a more sustainable fiscal future.
One of the key measures contributing to the country’s revenue growth is the liberalisation of motor vehicle imports, which took effect on 1st February 2025.
This significant policy shift is being closely monitored to ensure it does not have negative repercussions on the nation’s external economic stability.
Whilst the government anticipates substantial revenue from this move, it remains vigilant about the broader impacts.
Additional fiscal measures, which were unveiled in Parliament in December 2024, aim to ease the tax burden on lower-income groups while enhancing overall revenue intake.
Amongst these measures is an increase in the tax-free threshold for personal income tax, changes to the second income tax bracket, and the removal of VAT on fresh milk and yoghurt, all of which are designed to create a fairer tax system for citizens.
Furthermore, the government decided to abandon the controversial Imputed Rental Income Tax, a proposal from the previous administration, for this year.
To offset potential revenue shortfalls from these adjustments, the government introduced alternative measures, including VAT on digital services, corporate income tax on exported services, and an increase in taxes on cigarettes, alcohol, and gaming.
Together, these initiatives are expected to help the country achieve its target of raising tax revenues to 15.1 per cent of GDP by the end of 2025. However, the government is not only focusing on policy changes; there is a parallel effort to overhaul tax administration and improve compliance.
Enhancing the institutional framework, strengthening digital systems, and adopting robust monitoring mechanisms are critical components of the government’s strategy to build fiscal sustainability.
A major part of this plan is Sri Lanka’s push towards a cashless economy, in line with its broader digitalisation goals. The adoption of Point-of-Sale (POS) machines, particularly in VAT-registered businesses, will facilitate digital transactions, reduce reliance on cash, and help formalise the economy.
This transition is expected to not only curb tax evasion but also mitigate illicit financial activities, contributing to greater fiscal transparency and efficiency.
The drive for a fully digital economy, encompassing both revenue agencies and broader economic activities, is expected to be a game-changer in improving tax collection.
By reducing manual processes and increasing the use of technology, the government is optimistic that these efforts will lead to higher revenues, which in turn will support long-term economic stability and growth for Sri Lanka.
February 17, Colombo (LNW): President Anura Kumara Dissanayake, in his much-anticipated address to Parliament, laid out a bold and far-reaching budget for 2025 aimed at both bolstering Sri Lanka’s economic recovery and improving the well-being of its citizens.
The President announced several key initiatives to support vulnerable populations, including an increase in the monthly allowance for kidney patients from Rs. 7,500 to Rs. 10,000, and a rise in the allowance for low-income senior citizens from Rs. 3,000 to Rs. 5,000.
The government also plans substantial investments in key sectors. Notably, Rs. 2.5 billion will be allocated to develop the country’s dairy sector, and Rs. 500 million will be set aside for the cultivation of 16,000 acres of coconut within the Northern Coconut Triangle.
These measures are aimed at boosting local production and improving the livelihoods of those in rural areas.
The President also unveiled the largest-ever allocation for Sri Lanka’s social welfare programme, with Rs. 232.5 billion earmarked for the Aswesuma initiative, which supports low-income and vulnerable groups.
Further commitments were made to improve public healthcare, including an allocation of Rs. 604 billion for the health sector and Rs. 185 billion for the purchase of essential medical supplies.
Education and infrastructure also received significant attention in the 2025 Budget. The President announced an increase in the Mahapola Scholarship allowance from Rs. 5,000 to Rs. 7,500, and a rise in the Grade 5 Scholarship allowance from Rs. 750 to Rs. 1,500 for students from low-income families.
Additionally, Rs. 100 million will be allocated to upgrade the Jaffna Public Library, and Rs. 500 million will be invested in the development of sports schools across five provinces.
In a move to foster greater economic growth, President Dissanayake announced the establishment of a State Development Bank to support Small and Medium Enterprises (SMEs).
Additionally, the government is keen to boost tourism, with Rs. 500 million allocated for the development and marketing of key historical sites such as Anuradhapura and Yapahuwa. A digital ticketing system will also be introduced for these attractions.
The budget also prioritises Sri Lanka’s digital transformation, with a planned allocation of Rs. 3 billion to enhance the country’s digital infrastructure. President Dissanayake revealed that a Digital Economic Authority would be created as part of a phased transition to a cashless economy, ensuring data security and privacy along the way.
On the economic front, the President projected a 5 per cent growth for the year, supported by a National Export Development Plan and a focus on economic diplomacy.
He also outlined a clear path to resume debt repayments from 2028, with a commitment to manage public funds prudently and responsibly.
President Dissanayake also announced a series of fiscal measures aimed at improving Sri Lanka’s infrastructure. Rs. 1 billion will be allocated for the improvement of school infrastructure, while Rs. 750 million will be dedicated to upgrading scanning services at key entry points such as the Colombo Port and Bandaranaike International Airport.
In an effort to curb government spending, the President confirmed that Parliamentarians would not receive new vehicles in 2025, with all luxury government vehicles to be auctioned off in March. Additionally, no vehicle permits will be granted to MPs this year.
Overall, the 2025 Budget demonstrates the government’s commitment to addressing both immediate social needs and long-term economic development. With a total estimated expenditure of Rs. 4,218 billion, the President plans to lay a solid foundation for Sri Lanka’s recovery and growth in the years ahead.
