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Government to Study Integration of EPF and ETF Under Unified Tripartite Governance Model

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Government to Study Integration of EPF and ETF Under Unified Tripartite Governance Model

The Government has decided to appoint a Senior Officials’ Committee to assess the feasibility of integrating the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF) under a single governance framework overseen by a tripartite board representing the Government, employers, and employees.

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa announced the decision during the weekly Cabinet media briefing on Tuesday (16), stating that the existing separate administrative and regulatory structures have resulted in overlapping functions and a fragmented policy approach.

At present, the Central Bank of Sri Lanka manages the EPF’s asset base of approximately Rs. 4.9 trillion on behalf of 2.5 million members, while the Labour Department is responsible for enforcing employer compliance and protecting employee rights under the EPF Act.

Dr. Jayatissa noted that the Central Bank’s role in managing the EPF was established as a historical arrangement during a period when alternative institutional mechanisms were unavailable.

He said the proposed reform seeks to align Sri Lanka’s social security system with international best practices recommended by the International Labour Organization (ILO). Unlike the EPF’s dual-agency structure, the ETF is already managed by a tripartite board comprising representatives of the Government, employers, and employees, overseeing assets worth more than Rs. 637.5 billion for over three million members.

The Minister stated that the newly appointed committee will examine the operational and legal feasibility of bringing both funds under a unified governance structure aimed at improving efficiency, streamlining administration, and maximizing benefits for members.

According to Dr. Jayatissa, the proposed model would place greater ownership and oversight of the funds in the hands of employees through the tripartite board.

“Once governance is transferred to a tripartite board representing the Government, employers and employees, no future Government will be able to utilize these funds at its discretion,” he said.

President Reviews Proposals to Reform State Land Circulars and Improve Land Utilisation

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President Reviews Proposals to Reform State Land Circulars and Improve Land Utilisation

President Anura Kumara Dissanayake held discussions with the Circular Revision Committee appointed to review and update circulars issued under the State Lands Ordinance and the Land Development Ordinance at the Presidential Secretariat on Tuesday (16).

The Committee has been tasked with recommending the cancellation of outdated circulars, the revision of existing directives, and the introduction of new circulars to ensure that land administration policies are aligned with present-day requirements.

Chaired by Secretary to the Ministry of Agriculture, Livestock, Lands and Irrigation D.P. Wickramasinghe, the Committee comprises representatives from the Presidential Secretariat, Attorney General’s Department, Ministry of Agriculture, Ministry of Finance, Department of Valuation, Mahaweli Authority, provincial land administration bodies, and other relevant institutions. The Commissioner General of Lands serves as the Committee’s convener.

The Committee’s mandate includes establishing a more reliable, uniform, and streamlined land taxation framework within the existing legal system while ensuring optimal state revenue without adversely affecting lessees. This involves reviewing annual lease rentals for long-term leases and land grants, updating existing circulars, and formulating new provisions where necessary.

During the meeting, members presented and discussed proposals prepared by the expert committee regarding the revision of current land-related circulars.

President Dissanayake stressed the need for a modern and practical policy framework to address the underutilisation of state-owned lands and ensure that such lands are used more efficiently to support economic development and national priorities.

The meeting was attended by Deputy Minister of Lands and Irrigation Aravinda Senarath, Secretary to the President Dr. Nandika Sanath Kumanayake, senior legal and government officials, members of the Circular Revision Committee, and representatives from the Ministries of Finance and Agriculture, Livestock, Lands and Irrigation.

Sri Lanka Police Launch QR Code-Based Public Feedback Portal

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Sri Lanka Police Launch QR Code-Based Public Feedback Portal

Sri Lanka Police have introduced a new QR code-enabled digital platform, the “Sri Lanka Police Community Feedback Portal,” allowing the public to submit feedback, complaints, compliments, and suggestions regarding services provided at police stations across the country.

According to Police, the online system has been designed to enhance service delivery through a more citizen-focused approach supported by data-driven analysis.

Members of the public can access the portal by scanning QR codes displayed at police stations. Users will be able to select whether they wish to submit a comment, complaint, compliment, or suggestion, and provide details about their visit along with any additional information relevant to their feedback.

The platform is also available through the official Sri Lanka Police website (www.police.lk) under the E-Services section, enabling users to submit feedback electronically from any location.

Meanwhile, the Inspector General of Police (IGP) has instructed all senior police officers and Officers-in-Charge (OICs) to install QR code boards titled “Sri Lanka Police Community Feedback Portal” at every police station, including reception areas and prosecution divisions.

Police officials have also been directed to actively inform the public about the facility and ensure its effective implementation.

According to Sri Lanka Police, the initiative aims to strengthen transparency, accountability, and the quality of public service by systematically incorporating community feedback into police performance evaluation and improvement processes.

G7 Leaders Agree to Increase Pressure on Russia as Trump Urges Peace Deal

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G7 Leaders Agree to Increase Pressure on Russia as Trump Urges Peace Deal

Leaders of the G7 nations have agreed to intensify pressure on Russia to end its war against Ukraine, with U.S. President Donald Trump urging Moscow to reach a peace agreement.

The decision was announced during the G7 Summit in Evian-les-Bains, France, where Ukrainian President Volodymyr Zelensky joined discussions with leaders of the world’s major economies.

According to a French diplomatic source, G7 leaders agreed to strengthen sanctions targeting Russia’s oil and gas sectors as part of efforts to increase pressure on Moscow.

“Leaders decided today to increase the pressure on Russia through sanctions on gas and oil,” the source said.

The summit also marked a key meeting between Zelensky and Trump. While Trump has previously sought dialogue with Russian President Vladimir Putin, he appeared to signal growing frustration over the prolonged conflict.

“Russia should make a deal,” Trump said after meeting Zelensky, describing the war as a costly and unnecessary conflict that has resulted in heavy casualties on both sides.

“The whole thing is ridiculous. So, yeah, I’m going to do whatever I can,” he added.

Zelensky welcomed the support from G7 leaders, stating that Ukraine’s priorities remain strengthening air defence systems, securing assistance for the winter months, and increasing pressure on Russia.

“It’s great that everybody understands that Russia is not winning, and we have to push Putin to end this war,” Zelensky said during talks with Canadian Prime Minister Mark Carney.

The Ukrainian leader also called for a “decisive and substantive” response from the G7 following recent Russian missile and drone attacks that killed at least 11 people and damaged infrastructure in Kyiv.

Meanwhile, several G7 countries announced additional sanctions against Russia.

British Prime Minister Keir Starmer unveiled a new package of sanctions targeting Russian-linked entities, including vessels involved in transporting liquefied natural gas (LNG).

“Working with our G7 allies, we will continue to increase the pressure on Putin and his circle of collaborators until Russia’s war machine is brought to a halt and peace returns to our continent,” Starmer said.

Canada also announced sanctions against 160 entities linked to Russia’s so-called “shadow fleet,” which has been used to bypass Western restrictions on Russian exports.

In addition to Ukraine, discussions at the summit focused on developments in the Middle East, particularly Iran. Trump reiterated that the United States’ primary concern remains preventing Iran from obtaining nuclear weapons and warned of severe consequences if Tehran pursued such capabilities.

The three-day G7 Summit concludes on Wednesday, with further discussions expected on global security, economic stability, and ongoing geopolitical conflicts.

India Donates Military Equipment and Trauma Care System Worth Over USD 5 Million to Sri Lanka Army

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India Donates Military Equipment and Trauma Care System Worth Over USD 5 Million to Sri Lanka Army

India has donated a consignment of military equipment and a trauma care system valued at more than USD 5 million to the Sri Lanka Army under its Grant Assistance programme.

The equipment was officially handed over at a ceremony held at the Army Headquarters, Defence Headquarters Complex in Sri Jayewardenepura Kotte. Indian High Commissioner Santosh Jha presented the donation to Defence Secretary Air Vice Marshal Sampath Thuyacontha (Retd) in the presence of Army Commander Lieutenant General Lasantha Rodrigo, according to a statement issued by the Ministry of Defence.

The consignment was transported aboard the Indian Naval Ship (INS) Sharda, which visited Colombo from June 10 to 13 and facilitated the transfer of essential military supplies from the Indian Army to the Sri Lanka Army.

Addressing the ceremony, High Commissioner Jha said the donation reflected the strong and longstanding relationship between the armed forces of India and Sri Lanka. He noted that defence cooperation between the two countries has expanded in recent years to include military capability enhancement, infrastructure development, as well as equipment and training support.

Jha also highlighted India’s assistance to Sri Lanka during Cyclone Ditwah through Operation Sagar Bandhu and referred to the Memorandum of Understanding on Defence Cooperation, signed during Indian Prime Minister Narendra Modi’s visit to Sri Lanka in April 2025, as a significant milestone in strengthening bilateral defence ties.

Defence Secretary Thuyacontha expressed gratitude to the Government of India for its continued support and friendship, describing India as a trusted partner that has consistently assisted Sri Lanka during times of need, including natural disasters and economic challenges.

Senior officials from the Ministry of Defence, the Sri Lanka Army, and the High Commission of India were also present at the event.

WEATHER FORECAST FOR 17 JUNE 2026

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WEATHER FORECAST FOR 17 JUNE 2026

Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts.

Showers or thundershowers may occur at a few places in Uva and Eastern provinces after 2.00 p.m.

Fairly strong winds about (30-40) kmph can be expected at times over Western slopes of the central hills, Southern, Northern and North-central provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.

Disciplinary Action Likely After Visa Failure Forces Cancellation of Sri Lanka Rugby Fixture

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Disciplinary Action Likely After Visa Failure Forces Cancellation of Sri Lanka Rugby Fixture

June 16, Colombo (LNW): Sri Lanka’s Sports Ministry has indicated that disciplinary measures are expected against the national rugby governing body after administrative failures led to the cancellation of an international fixture against South Korea, following the team’s inability to secure travel visas in time.

The match, part of the Asian Rugby Championship schedule, was called off last week after the squad was unable to travel, prompting scrutiny over the handling of logistical arrangements by the federation responsible for the sport.

Sports Minister Sunil Kumara Gamage, addressing the media, placed responsibility firmly on the relevant governing body, stating that such operational matters fall outside the remit of the Ministry. He emphasised that while government support may extend to funding approved expenses, administrative duties such as visa applications, travel bookings and coordination rest entirely with the sports federations.

He criticised what he described as poor planning, arguing that last-minute requests for travel documentation reflected a serious lapse in judgement. According to him, expecting visas to be processed within days of departure was neither realistic nor acceptable practice in international sport management.

Gamage further remarked that repeated attempts by sporting bodies to attribute organisational failures to the Ministry were misplaced, adding that accountability must remain with those directly responsible for team administration. He also suggested that similar issues had arisen in the past, and warned that continued negligence would not be tolerated.

Court of Appeal Reserves Decision on Yoshitha Rajapaksa’s Challenge to Money Laundering Charge

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Court of Appeal Reserves Decision on Yoshitha Rajapaksa’s Challenge to Money Laundering Charge

June 16, Colombo (LNW): The Court of Appeal has concluded proceedings relating to a petition filed by Yoshitha Rajapaksa, the son of former President Mahinda Rajapaksa, in which he seeks to have a conspiracy allegation against him struck out from an ongoing money laundering case.

Following submissions from both parties, the appellate court announced that its determination on the matter will be delivered on July 03.

Rajapaksa’s case was presented by Attorney Hafiel Faris, who argued that the conspiracy charge included in the indictment lacks a valid legal basis and should not proceed. Representing the Attorney General, Deputy Solicitor General Janaka Bandara urged the court to reject the application and allow the charge to remain before the trial court.

The matter was heard before a two-judge bench comprising Justices Amal Ranaraja and Dr Sumudu Premachandra, who listened to extensive arguments before reserving their order.

At the centre of the dispute is the applicability of a conspiracy allegation under the Prevention of Money Laundering Act. Rajapaksa’s legal team maintains that the charge is not sustainable under the existing legal framework, while the prosecution contends that the indictment has been properly instituted.

Price Controls Spark Growing Tensions in Pharma Trade

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Price Controls Spark Growing Tensions in Pharma Trade

By: Staff Writer

June 16, Colombo (LNW): Sri Lanka’s pharmaceutical regulatory environment is facing increasing scrutiny as concerns mount over pricing policies, regulatory delays, and their potential impact on medicine availability.

Industry representatives claim that a combination of prolonged approval procedures and aggressive pricing expectations has created significant obstacles for international pharmaceutical suppliers, particularly companies from India, which remains one of Sri Lanka’s largest sources of medicines.

The controversy revolves around the National Medicines Regulatory Authority’s handling of medicine registrations and import licences. Pharmaceutical companies allege that regulators are seeking reductions in the Maximum Retail Price of products, even when those medicines are not included in the country’s official list of price-controlled drugs.

According to industry sources, there is uncertainty regarding the criteria used to determine acceptable prices. In some cases, comparisons are reportedly made with prices in India, while in others, locally manufactured alternatives are used as benchmarks. Suppliers argue that neither comparison accurately reflects the economic realities of importing medicines into Sri Lanka.

Manufacturers point to a range of expenses that influence pricing, including international logistics, regulatory compliance, product registration requirements, labeling obligations, and financing costs. They also note that currency movements and import-related risks have increased operating expenses over recent years.

The dispute has reignited debate over the effectiveness of Sri Lanka’s medicine pricing framework. Experts note that drug pricing serves multiple public policy objectives, including ensuring affordability, protecting patients, maintaining supply chains, and encouraging investment in pharmaceutical manufacturing.

Globally, many countries adopt targeted pricing controls focused on essential medicines while allowing market forces to determine prices for other categories. Industry representatives argue that such systems provide predictability and help sustain long-term supply.

Critics of the current Sri Lankan approach contend that excessive intervention may discourage reputable manufacturers from remaining in the market. They point to reports that several internationally recognized pharmaceutical brands have either reduced their presence or withdrawn products over time.

Regulatory procedures have also come under examination. Companies cite requirements such as bio-equivalence studies, facility inspections, and extensive stability testing, which can increase costs and lengthen approval timelines. Some suppliers report that introducing a new medicine into Sri Lanka can take several years.

Another area of concern is the application of a “need clause,” under which authorities may reject registrations if a medicine is deemed unnecessary for the local market. Industry participants argue that such decisions can create additional uncertainty for investors and manufacturers.

The most urgent challenge remains the backlog of more than 1,000 pending import licences. Pharmaceutical companies warn that prolonged delays could affect product availability and disrupt supply chains if unresolved.

As policymakers seek to balance affordability with access, the debate highlights a difficult question facing Sri Lanka’s healthcare sector: how to regulate medicine prices without undermining the incentives needed to ensure a stable and reliable supply of essential drugs.

Leadership Vacuum Deepens Crisis at Troubled National Airline

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Leadership Vacuum Deepens Crisis at Troubled National Airline

By: Staff Writer

June 16, Colombo (LNW): Questions over governance at SriLankan Airlines have intensified following warnings from a major employee union that leadership failures continue to threaten the future of the state-owned carrier.

The Inter-Company Employees Union has raised alarm over what it describes as a growing management crisis, citing both the controversial appointment of a new chairman and the prolonged absence of a permanent Chief Executive Officer. According to union representatives, the combination has created a dangerous leadership gap at a time when the airline faces severe financial pressures and an urgent need for reform.

Addressing journalists in Colombo, union officials argued that SriLankan Airlines cannot afford further instability. They claimed that the airline’s longstanding financial troubles have been worsened by weak oversight and poor decision-making, problems they say remain unresolved despite repeated promises of restructuring.

The airline’s financial position paints a stark picture. Government data indicates that cumulative losses had reached more than Rs. 631 billion by August 2025, making SriLankan Airlines one of the country’s most financially burdened state enterprises. Additional losses recorded during the opening months of the current financial year have further intensified concerns about the carrier’s sustainability.

Union President Nisal Adhikari argued that meaningful reform requires more than external recommendations. While the government has appointed a restructuring committee led by telecommunications and technology expert Dr. Hans Wijayasuriya, the union believes internal leadership remains the missing piece.

According to Adhikari, a restructuring committee can design recovery strategies, but implementation ultimately depends on capable executives within the organization. He warned that if those responsible for executing reforms lack credibility or are distracted by controversy, efforts to address inefficiency and corruption could stall.

The union has repeatedly emphasized the need for clean governance, arguing that corruption was a major contributor to the airline’s decline over the years. Officials contend that rebuilding the carrier requires leaders who can identify financial leakages, strengthen accountability mechanisms, and restore employee confidence.

Particular concern has been directed at the airline’s failure to appoint a permanent Chief Executive Officer. The position has reportedly remained vacant for nearly a year, leaving key strategic and operational decisions in limbo. Union representatives claim that this leadership void has allowed financial irregularities and operational weaknesses to persist.

As an example, Adhikari pointed to reports of an Rs. 85 million loss linked to the airline’s operations in Chennai, suggesting that stronger executive oversight could have helped prevent or mitigate such setbacks. While the circumstances surrounding the reported loss remain under scrutiny, the union views it as evidence of the consequences of prolonged leadership uncertainty.

The unfolding dispute highlights broader challenges facing SriLankan Airlines as it seeks to balance restructuring, political oversight, and operational recovery. With mounting debt, continuing losses, and growing pressure from employees, the airline’s ability to secure stable and credible leadership may prove decisive in determining whether its turnaround efforts succeed or falter.

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