M. J. Gunasiri, Director General of the Government Revenue Unit, disclosed plans to bolster Sri Lanka’s economy by injecting 250 billion rupees in the upcoming year. This substantial financial lift is facilitated through a 50 billion rupee concessional loan jointly provided by the Asian Development Bank (ADB) and the government. The aim is to aid Small and Medium-scale Entrepreneurs (SMEs) grappling with significant crises.

Gunasiri highlighted Sri Lanka’s challenging economic landscape, citing five consecutive years of negative growth due to pervasive social, economic, and political challenges. He expressed optimism that the 2024 budget proposals will play a pivotal role in steering the country towards positive economic growth.

Within this year’s budget, allocations of 30 billion rupees from the ADB and 20 billion rupees from the government have been earmarked specifically to extend concessional loans for the development of SMEs.

Moreover, with the imminent arrival of the second tranche of the International Monetary Fund (IMF) loan, the Sri Lankan government anticipates further opportunities to access bilateral and multilateral financial aid from the international financial market.

Sri Lanka marked a milestone as the first digital birth certificate was officially issued, with Home Affairs State Minister Ashoka Priyantha overseeing the event on December 5.

The ceremony, held at the Kalutara District Secretariat as part of the e-Population Register initiative by the Home Affairs Ministry, heralded the commencement of the digital birth certificate program.

In his address, State Minister Ashoka Priyantha emphasized that the digital birth certificate initiative’s successful launch in Kalutara would soon extend to other regions. He highlighted that the numerical data on these certificates would adhere to international standards, eventually serving as the National Identity Card (NIC) number, using advanced digital technologies.

Today, the Sri Lankan Rupee displayed a slight appreciation against the US Dollar in commercial banks across Sri Lanka compared to the rates on Tuesday.

At Peoples Bank, the US Dollar’s buying rate decreased from Rs. 322.41 to Rs. 321.67, while the selling rate dropped from Rs. 333.65 to Rs. 332.89.

Commercial Bank reported unchanged rates for the US Dollar, maintaining a buying rate of Rs. 321.75 and a selling rate of Rs. 332.

Meanwhile, at Sampath Bank, the buying rate for the US Dollar decreased from Rs. 323 to Rs. 322, and the selling rate decreased from Rs. 333 to Rs. 332.

The Public Utilities Commission of Sri Lanka (PUCSL) has taken a decisive step by instructing the Ceylon Electricity Board (CEB) to conduct an independent audit concerning its revenue and electricity generation costs. This directive stems from concerns raised over the accuracy of the financial data presented by the CEB to cover its operational expenses.

Highlighting the need for transparency and accuracy in financial reporting, the PUCSL has urged the CEB to designate the entity that will conduct the independent audit before the month’s end. This move aims to ensure a comprehensive and accurate evaluation of the CEB’s revenue streams and electricity generation costs.

Additionally, the PUCSL has advised the CEB to formulate proposals aimed at reducing electricity tariffs, a directive that also needs to be presented before the end of the month.

Following the submission of these proposals, the PUCSL has committed to providing its recommendations regarding potential revisions to the existing electricity tariffs. These recommendations are slated to be announced in January 2024, based on the proposals submitted by the CEB.

This regulatory action signifies a pivotal effort to enhance accountability and transparency within Sri Lanka’s energy sector, aiming to ensure fair and economically sustainable electricity tariffs for consumers.

In a devastating incident this morning, a 54-year-old police officer tragically took his own life by using his service firearm. The incident occurred between 6:00 – 7:00 a.m., as confirmed by the police spokesman.

The officer had been on duty at the Peliyagoda expressway interchange the previous night.

In the wake of this distressing event, it’s important to recognize the availability of resources for immediate support for anyone grappling with crisis or in need of help:

• National Mental Health Helpline: 1926 (for emergencies)
• Sumithrayo: +94 11 2 682535 / +94 11 2 682570
• CCCline: 1333 (toll-free)

These resources aim to offer immediate assistance and support to those experiencing mental health challenges or in crisis situations. It’s essential to reach out or encourage someone in need to seek help during difficult times.

Dr. Ashani Hewage, a Medical Officer from the National Dengue Control Unit, has sounded an alarm regarding a significant surge in dengue cases, with an alarming report of 1,000 new infections within the past five days since the start of December.

Attributing this rapid increase to the prevailing rainy weather, Dr. Hewage emphasized that the daily tally of dengue patients has reached a concerning 250 individuals.

December has witnessed an unprecedented spike in dengue cases, marking a stark escalation in the number of infected individuals, Dr. Hewage cautioned.

The overall dengue count has surpassed 77,500 reported cases, leading to 76 confirmed deaths due to the dengue virus. Notably, nearly half, accounting for 47%, of the reported dengue cases emanate from the Western Province.

The districts of Colombo and Gampaha, situated in the Western Province, have registered the highest incidences of dengue cases. Specifically, the MOH Division of Colombo has recorded the most substantial number of dengue cases among all regions.

The surge in cases raises concerns about the urgent need for intensified measures to curtail the spread of the virus amidst the rainy conditions, urging heightened awareness and proactive efforts to address this escalating health crisis.

1. An ADB official says SL will get about USD 600 mn on a “staggered basis” from the Asian Development Bank after the IMF releases the 2nd tranche of it’s USD 2.9 bn bailout of SL: ADB has been one of the multi-lateral financing institutions that has not been affected by SL’s controversial debt default of 12th April’22.
2. President Ranil Wickremesinghe is reported to be mulling prorogation of Parliament in January’24: once Parliament is prorogued, pending business before the House will lapse, and the new Parliament, once convened by the President, has to resume afresh: the President can prorogue Parliament for a maximum of 2 months.
3. SLPP Rebel MP Prof. Charitha Herath expresses concern about an impending Constitutional crisis in the country.
4. Six priceless Kandyan treasures including a golden & silver kasthãné (ceremonial swords), two maha thuwakku (wall guns), and Lewke Disave’s cannon, which were looted by the Dutch in 1765, placed on public display at the Colombo National Museum
5. Justice Minister Wijeyadasa Rajapakshe reveals plans to introduce a new legislative framework to oversee operations of micro-finance institutions: emphasises the need to establish an independent regulatory institution, separate from the Central Bank, with a specific focus on overseeing and effectively regulating micro-finance entities.
6. Sri Lanka ranked among the top 5 fastest growing tourism destinations for 2024 by the world-renowned travel guide, the “Travel Off Path”.
7. SL Air Force receives two Harbin Y-12-IV twin-engine turboprop utility aircrafts from China: Harbin Y-12 or Yunshuji-12 is a light multi role aircraft designed & developed by Harbin Aircraft Manufacturing Corp of China, and principally used for passenger & cargo transportation.
8. Budget Deficit for the first 9 months of 2023 widens to an astronomical Rs.1,614 bn from Rs.1,244 bn last year: Tax revenue up by over 50% to Rs.1,934 bn amid significant upward revisions to tax rates & introduction of new taxes: however, expenditure also up by a massive 38.5% to Rs.3,732 bn with recurrent expenditure surging 44.7% to Rs.3,328 bn.
9. Number of Dengue cases recorded in the first 11 months of 2023 reaches the highest infection levels in the past 3 years: cases reported for the years 2020, 2021 & 2022 were 31139, 35054 & 76467: however, by 5th December’23, 78,022 cases had been reported for this year: so far, 46 dengue-related deaths have also been reported.
10. Dulanjan Fernando, 24, sets a new National record in the 3 metre Springboard diving event at the CAMO International Invitation Plongeon in Montreal, Canada: earns recognition from World Aquatics, making him the 3rd SL diver to achieve such global acclaim.