February 27, Colombo (LNW): The Attorney General has informed the Supreme Court that a total of Rs. 245 million has been disbursed as compensation to the victims of the tragic Easter Sunday terror attacks.
This payment follows an order issued in relation to the Fundamental Rights petitions filed by the victims, which highlighted the failure of authorities to take preventative action prior to the attacks.
The update was presented during a hearing of 12 petitions concerning the disbursement of compensation to those affected by the attacks.
The petitions were brought before the Supreme Court for scrutiny, with the intention of ensuring that the payment process was carried out in accordance with the court’s previous instructions.
The case was heard by a three-judge bench consisting of Chief Justice Murdu Fernando, Justice S. Thurairajah, and Justice A.H.M.D. Nawaz.
The Supreme Court’s involvement in these matters has underscored the importance of ensuring justice for the victims, as well as the need for accountability and transparency in the compensation process.
February 27, Colombo (LNW): The Central Bank of Sri Lanka (CBSL) has issued a stern reminder regarding the improper use of the word ‘Finance’ in business names, stressing that such usage violates the provisions outlined in the Finance Business Act, No. 42 of 2011.
The CBSL clarified that under Section 10(2) of the Act, only registered finance companies and institutions specifically authorised by the Act are permitted to use terms like ‘finance’, ‘financing’, or ‘financial’ in their business names.
Any other entity attempting to do so, whether alone or combined with other words or their derivatives, is required to obtain prior written approval from the Central Bank.
The regulation is designed to prevent misleading business practices and ensure that the use of financial terminology is exclusive to institutions that are legally recognised and regulated within the sector.
The CBSL emphasised that failure to adhere to this requirement could result in legal repercussions, as individuals or entities found in violation of this rule are considered to have committed an offence under Section 56(4) of the Finance Business Act.
As part of this public advisory, the CBSL strongly urged all businesses and individuals to familiarise themselves with these legal stipulations and comply with the necessary procedures to avoid potential penalties.
February 27, Colombo (LNW): The Election Commission of Sri Lanka is set to hold an important meeting today (27), with reports indicating that a decision on the date for the upcoming Local Government (LG) Elections will be made during the session.
This meeting has been anticipated for weeks, as the nation awaits clarity on when the elections, crucial for local governance, will take place.
According to a recent gazette notification issued by the Ministry of Public Administration, Provincial Councils, and Local Government, local government institutions are scheduled to hold their inaugural sessions after the elections on June 2, 2025.
Sources within the Election Commission have hinted that the elections are likely to be held either at the end of April or in the first week of May 2025. The final decision, which will confirm the exact date, is expected to provide clarity on the timeline for the electoral process.
February 27, Colombo (LNW): Sri Lanka’s 2025 national budget has been hailed as a pivotal moment in the country’s ongoing recovery, balancing urgent public needs with long-term fiscal responsibility.
Treasury Secretary Mahinda Siriwardana acknowledged that whilst the budget prioritises fiscal discipline, it also ensures vital support for the nation’s most vulnerable communities, investing heavily in social welfare, infrastructure, education, and healthcare.
Delivering the keynote address at the Softlogic Investor Forum in Colombo, Siriwardana stressed that the budget outlines a clear roadmap for Sri Lanka’s future, but he urged all sectors to collaborate in turning this vision into reality.
“This is a critical turning point for the country,” he noted, “and it’s up to us all to work together to ensure its success.”
Siriwardana pointed out the unusual continuity in Sri Lanka’s economic strategy, which has remained largely stable despite political changes over the past few years.
Unlike the policy shifts that followed the 2019 political transition, the current approach has remained consistent, which he described as a rare and promising sign for the country’s future.
“The stability we’re now witnessing in macroeconomic policy, even through an election cycle, is something we haven’t seen before,” he observed. “This stability is not without its critics, but the positive results speak for themselves. We have restored stability, regained investor confidence, and are on the right path towards debt sustainability.”
Highlighting the progress made over the past three years, Siriwardana underlined the importance of staying committed to the ongoing economic reforms.
Although these reforms have been challenging, they are starting to show tangible benefits, including an improved fiscal position and increased international trust.
Whilst acknowledging the hardships of reform, he pointed to the country’s stronger position today, which has allowed it to engage more effectively with international partners.
The government’s fiscal discipline has made targeted relief for vulnerable groups possible, without derailing the reform process.
Looking ahead, Siriwardana expressed confidence that Sri Lanka’s ongoing relationship with the International Monetary Fund (IMF) could be the last, provided the country remains resolute in its reform efforts.
“This must be the final IMF programme,” he stated. “To make that a reality, we must avoid policy missteps and continue strengthening our economic foundations.”
He concluded by emphasising that the hardest reforms have already been implemented. The focus now, he said, is on consolidating these changes and ensuring their long-term success. “If we stay disciplined, Sri Lanka will emerge stronger and more prosperous in the years ahead.”
February 27, Colombo (LNW): Aravinda Sirinatha has officially taken over as the new Chairman of the National Housing Development Authority (NHDA), marking the beginning of his leadership at the authority’s headquarters today (27).
Sirinatha comes to the role with a solid academic background. He graduated from the University of Kelaniya, where he earned a degree in commerce, before advancing his education with a postgraduate qualification in business administration.
In addition to his academic achievements, Sirinatha has also honed his skills through professional training at the Institute of Chartered Accountants of Sri Lanka, further enhancing his understanding of financial and managerial practices.
His career spans a variety of roles in the private sector, where he gained valuable experience in both management and strategic planning.
With his expertise in business administration and finance, Sirinatha is expected to lead the NHDA in implementing sustainable housing solutions and driving the authority’s broader objectives.
February 27, Colombo (LNW): The prolonged dry weather in Sri Lanka has led to significant disruptions in water supply across several regions, including Colombo, Kalutara, Ratnapura, Matara, and Kandy, according to the National Water Supply and Drainage Board (NWSDB).
The decreased rainfall has resulted in lower water levels in reservoirs, making it difficult for the authorities to maintain regular water distribution.
In response to the situation, the NWSDB has increased the use of water bowser trucks to deliver water to affected areas. However, with the supply under pressure, the public is being urged to use water sparingly and avoid wastage during these challenging conditions.
In addition to water shortages, the Ceylon Electricity Board (CEB) has reported a sharp rise in the cost of power generation. This is largely due to an increase in the operation of thermal and fuel oil power plants, which are being used more frequently to compensate for the reduction in hydroelectric power output.
The Norochcholai Power Plant, which is one of the country’s key sources of electricity, is currently operating at full capacity to meet the demand.
The country’s reliance on hydroelectric power has significantly decreased, with only 20 per cent of daytime electricity and 40 per cent of nighttime electricity now being sourced from hydro plants.
This shift has placed additional strain on thermal power generation, which has resulted in a spike in energy costs.
The combination of water and power supply issues highlights the severe impact of the ongoing dry spell, with authorities urging the public to remain vigilant and make efforts to conserve both water and energy.
February 27, Colombo (LNW): Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, has called on the country’s banking sector to bolster its efforts in preparation for the upcoming third round of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) evaluation.
Dr. Weerasinghe warned that a negative outcome from this assessment could severely hamper the nation’s economic growth.
The evaluation, coordinated by the Asia/Pacific Group on Money Laundering (APG), is scheduled to begin in March 2026. Dr. Weerasinghe highlighted that, as an active participant in the APG, Sri Lanka must avoid being placed on the regional organisation’s ‘Grey List,’ which could lead to devastating financial consequences, including strained correspondent banking relationships, heightened scrutiny of Sri Lankan clients, higher borrowing costs, and significant reputational damage.
In his address at the Compliance Symposium 2025 in Colombo, Dr. Weerasinghe emphasised that the nation must demonstrate strong compliance with international AML/CFT standards to pass the forthcoming evaluation.
Sri Lanka had previously undergone similar assessments in 2006 and 2014, which resulted in the country being flagged for strategic deficiencies, a situation that, according to the CBSL Governor, led to far-reaching economic and financial repercussions.
To ensure the country’s preparedness, Dr. Weerasinghe announced that renowned international AML expert, Dr. Gordon Hook, will conduct a mock evaluation in March 2025.
This exercise will assess the readiness of relevant stakeholders, with senior officials, including President Anura Kumara Dissanayake, receiving briefings from an APG delegation led by Japan’s Co-Chair next month.
Dr. Weerasinghe also pointed to several initiatives already underway to strengthen Sri Lanka’s AML/CFT framework. These include the completion of an updated National Risk Assessment, due for release in June 2025, and the implementation of the second National Policy on AML/CFT.
Additionally, a dedicated five-member task force was established in December 2023 to oversee these initiatives, whilst the Central Bank has proposed key amendments to crucial legislation such as the Prevention of Money Laundering Act and the Financial Transactions Reporting Act.
The Governor reiterated that non-compliance with AML/CFT regulations would expose the banking sector to significant risks, including the potential for financial losses and increased vulnerability to money laundering activities.
He urged banks to prioritise robust risk management practices and ensure high standards of compliance to protect both the financial system and the nation’s international standing.
February 27, Colombo (LNW): The debate surrounding the 2025 Appropriation Bill, also known as the 79th Budget Speech, is set to begin today (27) in Sri Lanka’s Parliament, marking the commencement of the crucial Committee Stage.
This stage, which will scrutinise the bill in detail, is expected to span over 19 days, including four Saturdays, running from February 27 through to March 21.
The Committee Stage provides a platform for Parliament members to discuss specific provisions of the budget before it proceeds to the final vote.
Following these extensive deliberations, the vote on the third and final reading of the bill will take place on March 21 at 6.00 p.m., after which the budget is expected to be passed into law.
On February 25, Parliament successfully passed the Second Reading of the Appropriation Bill with a majority of 109 votes. Out of the 201 votes cast, 155 were in favour, and 46 were against, setting the stage for the more detailed review in the Committee Stage.
The passage of the Second Reading was an important milestone in the budgetary process, and now the attention shifts to the in-depth scrutiny that will occur during the Committee Stage debates.
Earlier this month (17), President Anura Kumara Dissanayake, also serving as the Minister of Finance, formally introduced the Second Reading of the Appropriation Bill in Parliament. The debate on the bill lasted for seven days, from February 18 to February 25, allowing for a thorough exchange of views on the proposed allocations for the year 2025.
February 27, Colombo (LNW): Healthcare unions across Sri Lanka are set to take action today (27) in response to what they have called ‘unjustified cuts to allowances’ in the 2025 national budget.
The Government Nursing Officers’ Association (GNOA) has confirmed that its members will stage a demonstration outside government hospitals around the island, coinciding with the lunch hour from 12.00 p.m. to 1.00 p.m.
This protest is aimed at drawing attention to the financial reductions affecting healthcare workers, which they argue undermine their essential contributions to the public health system.
In a statement issued by the GNOA, Vice President Nalaka Hettiarachchi assured the public that whilst the protest will take place, it will not interfere with essential hospital operations or patient care during the demonstration.
Hettiarachchi emphasised that the protest is designed to be a peaceful display of dissatisfaction, aimed at urging the government to reconsider the budget cuts impacting healthcare workers’ allowances.
Meanwhile, in a parallel development, the President of the Public Health Inspectors’ (PHIs) Association, Upul Rohana, revealed that health inspectors in the Eastern Province will join the protest in a different form.
These workers will engage in a token strike by reporting sick leave as a form of protest against restrictions placed on overtime hours. Rohana explained that this action is in response to a decision in the 2025 Budget to limit overtime work, which, according to the association, has a direct impact on the livelihood of public health inspectors who rely on these additional hours.
The discontent surrounding the 2025 Budget has also sparked frustration amongst other sectors of the healthcare workforce. The Principal-Grade Officers’ Association, which represents a range of senior healthcare professionals, has expressed disappointment over their exclusion from the expected allowances in the latest budget.
The Association’s President announced that plans are already in motion to organise a larger-scale protest in Colombo in the coming days to voice their concerns and demand fair compensation for their roles.
February 27, Colombo (LNW): Sri Lanka has once again showcased its status as a premier travel destination at the prestigious Pakistan Travel Mart (PTM) 2025, held recently in Karachi.
The event highlighted the island nation’s rich offerings in hospitality, culture, and adventure tourism, with a strong focus on fostering closer tourism ties between Sri Lanka and Pakistan.
The Sri Lankan Consulate in Karachi played a key role in facilitating the participation of SriLankan Airlines, along with two of Sri Lanka’s leading travel agencies.
Their presence underscored the country’s commitment to expanding its tourism sector and enhancing its connectivity with Pakistan.
Notable attendees at the event included Acting High Commissioner of Sri Lanka in Pakistan, Christy Augustin; Consul General of Sri Lanka in Karachi, Jagath Abeywarna; Country Manager for SriLankan Airlines in Pakistan, Ruwan Wijekoon; and representatives from top Sri Lankan travel companies. Their participation demonstrated Sri Lanka’s ongoing efforts to build and strengthen tourism relationships with Pakistan.
During the event, Acting High Commissioner Christy Augustin took part in an insightful panel discussion titled “Beyond the Logo – Crafting Emotional Connections in Destination Marketing.”
In this forum, Augustin eloquently highlighted Sri Lanka’s diverse offerings, from its pristine beaches to its rich cultural heritage and vibrant wildlife.
He also spoke of the island’s unique appeal, encouraging travellers to not only visit but to form emotional bonds with Sri Lanka as a destination.
The Pakistan Travel Mart, known as one of the leading travel and tourism exhibitions in the region, brought together a vast array of industry professionals, tour operators, and stakeholders from across the globe.
The event proved to be an ideal platform for Sri Lanka to attract potential tourists and promote its tourism products.
The Sri Lankan pavilion at the event drew considerable attention, with visitors keen to learn more about the island’s diverse offerings.
Whether it was the island’s luxurious hospitality, scenic landscapes, or the range of adventure tourism options, Sri Lanka’s presentation was met with enthusiasm.
Many attendees expressed interest in the various cultural and eco-tourism experiences available, demonstrating the island’s wide appeal to a diverse audience.
Furthermore, the participation of SriLankan Airlines provided an important opportunity to emphasise the ease of travel between the two countries.
SriLankan Airlines’ presence in the event highlighted the airline’s commitment to enhancing connectivity and offering convenient travel options for Pakistani tourists, reinforcing the close ties between the two nations.
As Sri Lanka’s tourism sector looks forward to continued growth, experts believe that its participation in PTM 2025 will generate long-term benefits.
These include increased tourist arrivals from Pakistan and the establishment of stronger partnerships within the travel and hospitality industries in both countries.
The Sri Lankan Ministry of Foreign Affairs, Foreign Employment and Tourism expressed optimism that the continued engagement with the Pakistani market would yield positive results, both in terms of tourism growth and bilateral cooperation.
