November 01, Colombo (LNW): Prime Minister and Minister of Education, Higher Education and Vocational Education, Dr Harini Amarasuriya, announced that Sri Lanka is partnering with the Government of India to strengthen teacher training and educational development across the island.
Speaking at the inauguration of a new multi-ethnic, trilingual school building in Gallelle, Polonnaruwa—constructed with Indian assistance—Dr Amarasuriya highlighted that the collaboration forms part of a broader set of educational reforms aimed at nurturing creativity and innovation among teachers.
The Prime Minister expressed satisfaction that, for the first time in the nation’s history, Sri Lankans are collectively advancing towards a shared vision while preserving their cultural diversity and mutual respect. She stated that the government’s foremost goal is to provide equal access to quality education for every child, regardless of background or region.
Dr Amarasuriya explained that the reform agenda goes beyond curriculum updates, seeking to transform the education system into one that promotes critical thinking, civic responsibility, and leadership among the younger generation. Emphasising the importance of creating a safe and modern learning environment, she reaffirmed the government’s commitment to upgrading school facilities, addressing the shortage of teachers, and ensuring high educational standards nationwide.
With rapid technological advancement reshaping the world, the Prime Minister underscored the need to prepare children for digital learning. A national programme is currently being rolled out to strengthen the technological infrastructure in schools, helping students to make effective use of digital tools, acquire new skills, and embrace innovation.
She further revealed that training initiatives for educational administrators will be launched in collaboration with India, introducing new technological expertise and modern educational management practices into Sri Lanka’s school system.
Dr Amarasuriya concluded that the ultimate purpose of these efforts is not only academic improvement but also the cultivation of ethical and spiritual values in young citizens—shaping a new generation ready to lead with integrity and vision.
The event was attended by Indian High Commissioner Santosh Jha, Deputy Minister of Housing Construction and Water Supply T.B. Sarath, Members of Parliament Ratnasiri Bandara and Sunil Rathnasiri, Education Ministry Secretary Nalaka Kaluwewa, and senior ministry officials.
Sri Lanka and India Join Hands to Enhance Teacher Training and Education Reform
Minister Says No Widespread Security Threat to Lawmakers
November 01, Colombo (LNW): Minister of Public Security and Parliamentary Affairs, Ananda Wijepala, has stated that the present security situation does not justify providing routine personal protection to ministers, members of parliament, or local council heads.
Speaking to the media, the minister noted that the government remains vigilant and stands ready to act swiftly should credible threats emerge. He added that protective measures have already been arranged for those MPs whose safety has been verified to be at genuine risk.
At present, temporary security has been allocated to Shanakiyan Rasamanickam, the Ilankai Tamil Arasu Katchi representative for the Batticaloa District, and to Jagath Withana of the Samagi Jana Balawegaya, representing Kalutara.
Minister Wijepala further commented that it was unclear whether the alleged threats faced by certain parliamentarians were directly linked to their political work or connected to unrelated illicit activities. He emphasised that investigations into the matter would continue to ensure clarity and fairness in the government’s response.
CID Probes Alleged Links Between Actresses and Underworld Figure ‘Kehelbaddara Padme’
November 01, Colombo (LNW): The Criminal Investigation Department (CID) informed the Colombo Magistrate’s Court yesterday (31) that statements have been taken from five actresses suspected of having associations with underworld leader ‘Kehelbaddara Padme’, and of possibly accompanying him on overseas trips.
According to CID officials, inquiries are under way to establish whether the individuals in question were in any way connected to criminal operations, including narcotics trafficking, money laundering, or offences involving firearms.
The investigators are said to be examining travel records, financial transactions, and communication data to determine the extent of their links to the suspect and his alleged network.
After reviewing the details presented, the Colombo Chief Magistrate instructed the CID to continue its inquiries and provide a comprehensive progress report to the court by November 07.
The investigation remains ongoing, with authorities emphasising that all findings will be verified through due legal procedure before any further action is taken.
Ban on Free Shopping Bags Takes Effect from Today
November 01, Colombo (LNW): From today (01) onwards, retailers across Sri Lanka will no longer be permitted to provide shopping bags free of charge.
The new regulation, issued through a gazette notification by the Consumer Affairs Authority (CAA), requires vendors to impose a fair and transparent charge for each polythene bag provided to customers.
Acting Director of the CAA, Samanthi Karunaratne, explained that the price charged for these bags must be clearly indicated on the customer’s bill, ensuring accountability and preventing arbitrary pricing.
The move aims to discourage the excessive use of disposable plastic bags and encourage consumers to shift towards more sustainable, reusable alternatives.
Traders have been urged to comply fully with the new regulation, with the CAA expected to conduct random inspections to ensure proper enforcement.
Vatican’s Foreign Minister Archbishop Paul Richard Gallagher to visit Sri Lanka
November 01, Colombo (LNW): Archbishop Paul Richard Gallagher, the Holy See’s Secretary for Relations with States and International Organisations, is scheduled to make an official visit to Sri Lanka from November 03 to 08, 2025.
His visit comes at the invitation of Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, as part of celebrations marking half a century of formal diplomatic relations between Sri Lanka and the Vatican.
According to the Ministry of Foreign Affairs, Archbishop Gallagher’s itinerary includes meetings with President Anura Kumara Dissanayaka, Prime Minister Harini Amarasuriya, and Minister Herath. These discussions are expected to focus on strengthening bilateral cooperation, interfaith understanding, and the shared commitment to global peace and humanitarian values.
A central highlight of the visit will be a commemorative ceremony at the Galle Face Hotel in Colombo, celebrating fifty years of diplomatic engagement. Archbishop Gallagher is expected to deliver a keynote address reflecting on the historical ties between the Holy See and Sri Lanka, and their mutual efforts in promoting dialogue, education, and community development.
In addition to official engagements, the Archbishop will visit a number of religious and cultural landmarks across the country. His itinerary is also expected to include moments of reflection and prayer at churches affected by the tragic Easter Sunday attacks in 2019, underlining the Vatican’s continued solidarity with the victims and their families.
CEYPETCO Adjusts Fuel Prices
November 01, Colombo (LNW): The Ceylon Petroleum Corporation (CEYPETCO) has announced a new adjustment to domestic fuel prices, set to take effect from midnight on the 31st of October.
Under the updated pricing structure, Petrol 92 Octane will see a modest reduction of Rs. 5, bringing the new price to Rs. 294 per litre. In contrast, the price of Super Diesel will rise by Rs. 5, setting it at Rs. 318 per litre. The prices of Petrol 95 Octane, Auto Diesel, and Kerosene will remain unchanged, maintaining stability for consumers reliant on those fuels.
The revised retail prices are now as follows:
Petrol 92 Octane – Rs. 294 per litre (reduced by Rs. 5)
Super Diesel – Rs. 318 per litre (increased by Rs. 5)
Petrol 95 Octane – No change
Auto Diesel – No change
Kerosene – No change
Several provinces to witness showers, thundershowers: Mainly fair weather to prevail elsewhere (Nov 01)
November 01, Colombo (LNW): Showers or thundershowers may occur at a few places in Sabaragamuwa, Central, Southern and Uva provinces and in Ampara district after 2.00 p.m., the Department of Meteorology said in its daily weather forecast today (01).
Mainly fair weather will prevail in the other areas of the island.
Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces during the early hours of 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: Mainly fair weather will prevail in the sea areas around the island.
Winds: Winds will be variable in direction and speed will be (20-30) kmph.
State of Sea: The sea areas around the island will be slight to moderate.
Government Probes into Rapid Expansion of Unregulated Co-operative Banks
Financial institutions mushrooming in the island without a proper oversight as co-operative banks’ with branches in several regions are to be scrutinised and regularised, Trade and Co-operative Minister Wasantha Samarasinghe disclosed.
He blamed provincial councils and some governors of provinces for approving the setting up of such irregular finance companies taking deposits from rural masses.
Minister Smarasinghe stressed the need to close the loopholes in the cooperative bank act ”Establishing cooperative banks are done under the Co-operative Societies Law, No. 5 of 1972, with power vested in the provincial councils to approve their setting up”, he added. .
The government has already taken steps to promptly introduce new laws to regulate the cooperative sector including the cooperative banking system.
Trade and Co-operative Ministry is probing some financial institutions such as Saubhagya Cooperative Bank Ltd (SCD) of the North Central Province and Anuradhapura District Rural Capital Development Cooperative Society Ltd (RCD).started in recent years as ‘co-operative banks’ which are opening branches rapidly without a proper oversight,
These institutions, while performing quasi-banking functions such as accepting deposits and issuing loans, are not licensed under the Banking Act and are therefore not subject to Central bank supervision.
Instead, they operate under the Co-operative Societies Law No. 5 of 1972, and are monitored by the Department of Co-operative Development under the Ministry of Trade, Commerce and Food Security.
This legal framework allows for the registration of financial co-operatives at district and provincial levels, with a focus on community-based development, self-financing, and microcredit lending, a high official of the finance ministry said.
However all Cooperative rural banks are registered with the Regional Commissioner of Cooperatives and the Cooperative Development Department is monitoring and auditing the accounts of these cooperative societies.
Almost all cooperative societies are registered under the Co-operative Societies Law No.5 of 1972, by which they are authorised to accept deposits from public and lend monies to their members.
In addition, there is a large number of Thrift and Credit Cooperative Societies, which are also categorized as Cooperative banks as they perform banking functions at grassroots level.
There are around 7,000 rural financial institutions and a significant number of significant number of Cooperative Rural Banks (CRBs) with 1,933 branches countrywide, Cooperative Development Department‘s available data shows .
These banks operate under the umbrella of the cooperative movement, with a focus on microfinance activities. The number of CRBs has grown considerably over time, starting from just three at the end of 1964.
Sri Lanka Launches Bold Crackdown to Recover Stolen Wealth
In a sweeping move to confront decades of entrenched corruption and recover stolen public funds, the Sri Lankan government has launched a major anti-graft drive under the newly enacted Proceeds of Crime Act No. 05 of 2025. The law represents a historic milestone in the country’s long fight against illicit enrichment, granting sweeping powers to investigate, freeze, and confiscate illegally acquired assets both at home and abroad.
The initiative gained momentum with the formal establishment of the Proceeds of Crime Investigation Division (PCID) a new arm of the Sri Lanka Police on October 20, 2025. Operating from the old Police Headquarters in Colombo, the division has been mandated to probe criminal and non-criminal forms of illicit wealth accumulation.
It will collaborate with 34 key government entities, including the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), the Financial Intelligence Unit (FIU), and other financial and enforcement agencies.
A senior Finance Ministry official confirmed that individuals or institutions whether in the public or private sector found to have obtained money, property, or other assets unlawfully will face both criminal prosecution and civil asset forfeiture. Notably, the law allows for asset seizure even in cases where a criminal conviction cannot be secured, closing a major loophole that long shielded the powerful.
One of the Act’s most transformative provisions is the reversal of the burden of proof. Suspects must now demonstrate that their wealth was legitimately earned; failure to do so could lead to confiscation orders, even if they are granted bail.
Moreover, the law has retrospective effect, empowering investigators to scrutinize unexplained wealth accumulated over the past 30 years, and up to 50 years in cases involving embezzled public property.
The new law complements the broader National Anti-Corruption Action Plan (NACAP) 2025–2029, launched earlier this year under CIABOC’s leadership with technical support from the United Nations Development Programme (UNDP).
The plan responds to mounting public frustration — a 2024 national survey revealed that 49 percent of respondents admitted to paying bribes, while 84 percent believed corruption discouraged tax compliance.
Adding international backing to the reform effort, Japan has pledged a US$ 2.5 million grant to strengthen Sri Lanka’s anti-corruption framework and institutional capacity, according to Finance Ministry sources.
Already, the impact of the new regime is being felt. Authorities have initiated at least four high-profile investigations into luxury residences and hotel properties allegedly linked to public officials. Meanwhile, CIABOC’s recent nationwide awareness campaign has led to a 26 percent rise in public complaints, signaling a growing wave of citizen engagement and confidence in Sri Lanka’s fight against corruption
Guarantee Trap: Hidden Fiscal Risks Lurking in Sri Lanka’s Debt
Sri Lanka’s growing dependence on government guarantees has turned into a silent threat, tightly binding public finances to the performance of state-owned enterprises (SOEs) and state banks. According to the Finance Ministry, by September 2024, outstanding guarantees and letters of comfort had surged to Rs. 1,660 billion around 5.5 percent of GDP underscoring the scale of the country’s hidden liabilities.
While these guarantees have been vital in financing public utilities and infrastructure, the International Monetary Fund (IMF) has repeatedly sounded alarms over their mounting fiscal risks. In its 2025 Technical Assistance Report, the IMF warned that “fiscal risks in areas such as state-owned enterprises, guarantees, public-private partnerships, financial sector, and natural disasters remain substantial.”
A large portion of these guarantees stems from currency swaps and trade credits provided by the Reserve Bank of India to the Central Bank of Sri Lanka, backed by state guarantees. Major SOEs — including the Ceylon Electricity Board, Ceylon Petroleum Corporation, Road Development Authority, SriLankan Airlines, and the National Water Supply and Drainage Board — collectively account for more than half of these obligations. Meanwhile, state banks such as the Bank of Ceylon, People’s Bank, and National Savings Bank remain the largest domestic lenders tied to these guaranteed loans, heightening systemic exposure.
For decades, the issuance of guarantees and on-lending occurred without proper credit evaluation or clear safeguards. Many loss-making SOEs benefited from state-backed borrowing to maintain essential services and infrastructure, often without any accountability or assessment of repayment capacity. This practice has left the government increasingly vulnerable to contingent liabilities that could crystallize into direct fiscal burdens.
To curb these risks, Sri Lanka enacted the Public Debt Management Act (PDMA) in June 2024, creating a structured legal framework to oversee guarantees and on-lending practices. The PDMA mandates the Public Debt Management Office (PDMO) to carry out credit risk assessments before extending guarantees and to limit such support to non-distressed entities. Complementing this, the Public Finance Management Act (PFMA) reduced the maximum ceiling on outstanding guarantees to 7.5 percent of GDP, aiming to promote sustainable debt control and fiscal discipline.
Yet, despite these reforms, the IMF cautions that the overall fiscal exposure “remains substantial.” The government is currently drafting detailed regulations to operationalize the PDMA, including mechanisms for risk evaluation, mitigation, monitoring, and public reporting. These steps are designed to close the loopholes that previously allowed unchecked guarantee issuance and to strengthen transparency and accountability.
Sri Lanka’s experience underscores the delicate balance between using guarantees to stimulate growth and avoiding the fiscal dangers they conceal. The real test lies in enforcing the PDMA and PFMA effectively. Only through disciplined risk management and transparent governance can the nation prevent today’s financial safety nets from turning into tomorrow’s fiscal time bombs.