November 08, Colombo (LNW): Senior Advisor to the President on Economic and Financial Affairs, Prof. Anil Jayantha, announced that the government is considering reducing the VAT on school materials, including textbooks, as well as essential foods and medicines. This statement was made during a meeting with Gampaha district farmers, organized by the Sri Lanka Agricultural Development Council, on November 7.

A key issue raised during the meeting was Sri Lanka’s unique position as the only country to levy VAT on textbooks. The President of the Gampaha Minsara organization urged the government to remove VAT from school materials. Prof. Jayantha responded by emphasizing that while the government is committed to addressing these concerns, the country has committed to certain benchmarks with the International Monetary Fund (IMF), including a target to increase government revenue as a percentage of GDP to 15% by 2025.

To meet this goal, the government needs to collect indirect taxes like VAT. Prof. Jayantha mentioned that discussions with the IMF included suggestions such as reducing VAT on school materials from the current 18% to 7% or even 5%, rather than completely removing it. Another proposal was to provide financial grants to schoolchildren to purchase necessary materials. While no final decision has been made, the government aims to reduce VAT on essential items like food, medicine, and school materials to zero percent at the earliest opportunity.

November 08, Colombo (LNW): Sri Lanka has been awarded the title of ‘The Most Desirable Island in the World,’ clinching the prestigious Gold award at the 23rd Annual Wanderlust Reader Travel Awards 2024 held in the United Kingdom. This accolade, voted on by over 200,000 global travelers, marks a significant leap for Sri Lanka, which moved up from eighth place in 2023 to claim the top spot.

The award was received by Sri Lanka Tourism Chairman, Buddhika Hewawasam, at the iconic Tate Modern in London. Known as the ‘Pearl of the Indian Ocean,’ Sri Lanka captivated voters with its rich cultural heritage, diverse landscapes, abundant wildlife, and pristine beaches. Notable attractions include the ancient sites of Sigiriya, Dambulla, and Anuradhapura, along with the country’s lush tea plantations and the newly introduced Pekoe Trail, which invites travelers to explore the island’s scenic highlands.

The Wanderlust Reader Travel Awards 2024 saw over three million votes from 150,000 readers, underscoring Sri Lanka’s allure as a top-tier travel destination. This Gold award solidifies Sri Lanka’s global reputation as a captivating and must-visit island, drawing admiration from travelers worldwide.

November 07, Colombo (LNW):The dedicated medical unit at the Prime Minister’s Office was officially discontinued on November 5. Prime Minister’s Secretary Pradeep Saputhanthri facilitated the transfer of medical officers, support staff, equipment, medicines, and two ambulances from the unit back to the Health Ministry.

The handover ceremony took place at the Prime Minister’s Office, where Saputhanthri presented the relevant documents and keys to Health Ministry Secretary Dr. Palitha Mahipala. These resources will now be repurposed to support broader public health initiatives, aligning with the government’s commitment to enhancing healthcare services nationwide.

Sri Lanka’s new government will go ahead with the three-stage vehicle import ban relaxation as planned by the previous administration with specifications from the Finance Ministry, Cabinet Spokesperson Minister Vijitha Herath said.

Speaking yesterday (6) at the cabinet decision media briefing, he said that the current government is willing to proceed with stage-one of the three-stage vehicle import plan as proposed by the previous government.

The previous Ranil Wickremasinghe regime has planned to permit the importation of vehicles for private use starting in the first quarter of 2025.

Permission for commercial vehicle imports will be granted under the first pahse. . The initial phase will focus on allowing imports for business and transportation purposes.

The previous Government aimed to avoid reverting to the era of strict import restrictions driven by election-centric decisions. The move was a significant step towards easing import policies and addressing the demand for vehicles in the country.

Minister Vijitha Herath said that the finance ministry along with several other ministries had discussions with the vehicle importers association on the relevant criteria based on which the vehicle imports would be allowed.

“There are certain specifications included for vehicle imports and the finance ministry will announce those specifications in the coming days,” he said.

The previous government said that the removal of the temporary suspension on the importation of motor vehicles and non-motorised goods, classified under a total of 304 HS Codes, would be done in three stages:

Stage 1: The importation of public passenger transport vehicles, special purpose vehicles, and other non-motorised goods will be allowed starting 1 October.

Stage 2: The temporary suspension on the importation of commercial or goods transportation vehicles will be lifted on 1 December.

Stage 3: The importation of personal usage motor vehicles (including cars, vans, and sports utility vehicles, pickups, and more.) will be permitted starting 1 February 2025.

The conditions laid out by the previous administration include limiting the importation of motor cars, sports utility vehicles, motorcycles, and pickups to those less than three years old. Public passenger and commercial vehicles will be limited to five years, while special purpose and defence vehicles can be up to ten years old.

Also, the Importers were required to sell and register vehicles within 90 days of importation, with penalties introduced for any delays.Furthermore, an annual licensing system was proposed for importers, manufacturers, and traders to regulate the motor vehicle market and ensure they contribute to the national tax system

November 08, Colombo (LNW): The Financial Intelligence Unit (FIU) of Sri Lanka has signed a Memorandum of Understanding (MOU) with the National Secretariat for Non-Governmental Organizations (NGOs) to facilitate information sharing on money laundering (ML), terrorist financing (TF), and related crimes, as well as individuals connected to such activities.

The Central Bank of Sri Lanka (CBSL) noted that the MOU, signed under the Financial Transactions Reporting Act, No. 6 of 2006, aims to strengthen the country’s AML/CFT (Anti-Money Laundering and Countering the Financing of Terrorism) framework. The agreement was signed by Mr. Sanjeewa Wimalagunarathna, Director General of the National Secretariat for NGOs, and Dr. Subhani Keerthiratne, Director of the FIU, at a ceremony attended by CBSL Governor Dr. P Nandalal Weerasinghe, who also chairs the AML/CFT National Coordinating Committee.

This partnership empowers the NGO Secretariat to share insights from investigations, prosecutions, and activities that could be linked to ML/TF, a critical step in preventing misuse of NGOs. By working together, the FIU and NGO Secretariat aim to safeguard national and global financial stability from crimes that threaten economic security.

To date, the FIU has established 16 MOUs with local agencies, including Sri Lanka Customs and the Sri Lanka Police, to enhance domestic AML/CFT efforts. It also maintains 45 MOUs with international counterparts, reinforcing its commitment to global financial integrity.

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1. The Sri Lanka Immigration and Emigration Officers’ Association has issued a statement calling for an investigation into senior officials responsible for the current passport crisis. The association’s statement highlights the department’s failure to disclose the true status of Passport issuance to the responsible minister, impacting both national administration and the government’s agenda.
2. Two newly appointed Ambassadors to Sri Lanka presented their credentials to President Anura Kumara Dissanayake at the Presidential Secretariat.Ambassador of the Arab Republic of Egypt Adel Ibrahim and Ambassador of Japan ISOMATA Akio presented their credentials to the President.
3. Senior Advisor to the President on Economic and Financial Affairs Prof. Anil Jayantha stated that the government will focus on reducing the VAT levied on school material including textbooks and essential foods and medicine. The professor said this while participating in the meeting of Gampaha district farmers organised by Sri Lanka Agricultural Development Council, chairman Sashika De Silva
4. The Executive Director of the People’s Action for Free and Fair Elections (PAFFREL) Rohana Hettiarachchi says that despite 8,888 candidates vying for positions in this year’s General Election, fewer than 1,000 are actively campaigning, reflecting a notable decline in political engagement. Hettiarachchi attributed this trend to a shifting public perception regarding the benefits of political involvement and a growing disillusionment with traditional party structures.
5. Sri Lanka has been voted the Most Desirable Island in the World at the Wanderlust Reader Travel Awards 2024 in London. At the prestigious Wanderlust Reader Travel Awards 2024 held in London, Sri Lanka emerged as the “Most Desirable Island in the World,” marking a significant milestone in its tourism recovery journey.
6. Doctor Shafi Sihabdeen of the Kurunegala Teaching Hospital today filed a complaint with the Ministry of Public Security over his arrest and detention in 2019. Speaking to the media today, Dr. Sihabdeen said that he faced the ordeal due to false allegations made against him for political propaganda and that he has filed a complaint to prevent the recurrence of such incidents in the future.
7. Sri Lanka’s Official Reserve Assets has increased to US$ 6.46 billion in October 2024 from the US$ 5.99 billion recorded in September this year. According to the Central Bank of Sri Lanka (CBSL), this was a significant increase of 7.9%.
8. The Secretary to the Ministry of Trade M.M. Naimuddin handed over the report prepared by the Consumer Affairs Authority (CAA) on rice and paddy stocks in the country to President Anura Kumara Dissanayake. This assessment of the rice stocks available within the country was carried out following the President’s directive to gauge the rice supply amidst a market shortage of several varieties, including Nadu, White and Red Raw rice.
9. The public who have fallen victim to online financial scams through social media, such as WhatsApp, has been requested to inform the Police Computer Crime Investigation Division. Complaints can be filed by sending emails to the Police Computer Crime Investigation Division via [email protected].
10. The Financial Intelligence Unit (FIU) of Sri Lanka has entered into a Memorandum of Understanding (MOU) with the National Secretariat for Non-Governmental Organizations to exchange information on investigations and prosecutions of Money Laundering (ML), Terrorist Financing (TF) and related crimes and of any persons connected.

November 08, Colombo (LNW): Showers or thundershowers will occur at times in Northern and North-western Provinces and in Puttalam and Trincomalee districts. Showers or thundershowers will occur at several places in the other areas of the island after 1.00 pm.

Showers may occur in the Western province and in Galle, Matara, Ampara and Batticaloa districts in the morning too.

Fairly heavy showers above 75 mm are likely at some places in Central, Sabaragamuwa and Uva provinces.

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