By: Isuru Parakrama

October 06, Colombo (LNW): The Inland Revenue Department (IRD) has successfully amassed Rs. 1,417 billion in taxes by the end of September 2024, surpassing 70 per cent of its annual target of Rs. 2,024 billion.

This significant progress reflects the department’s efforts to strengthen tax collection and improve fiscal discipline across the country.

In an official statement, Commissioner General Sepalika Chandrasekara commended the positive strides made towards achieving the revenue goals for the year.

However, she also pointed out that several taxpayers under the self-assessment payment system still have outstanding liabilities to settle.

In a move to ensure compliance and expedite the recovery of these overdue amounts, the IRD has announced plans to visit the premises of defaulting taxpayers, starting from October 06.

This effort is part of a broader initiative to ensure that all taxpayers meet their obligations within the stipulated timeframes.

The Commissioner General stressed the importance of timely tax payments, noting that whilst the department has made substantial progress, the cooperation of taxpayers remains crucial in meeting the overall fiscal objectives.

The IRD is committed to taking all necessary measures to close the gap in outstanding dues, with enforcement actions being a key component of this strategy.

With the final quarter of the year underway, the IRD is optimistic that it will continue to make headway in meeting its annual target, ensuring the sustainability of national financial resources.

Taxpayers have been urged to proactively settle their dues to avoid penalties or enforcement actions as the department intensifies its collection efforts in the coming months.

By: Isuru Parakrama

October 06, Colombo (LNW): Former President Maithripala Sirisena unveiled his long-anticipated autobiography, Sihinaya – Nonimiya, at a launch event in Colombo on Friday (04).

The book, which took three years to write, offers a detailed look into Sirisena’s personal and political journey, though notably omits any discussion of the 2019 Easter Sunday attacks that occurred during his tenure.

During his speech at the launch, Sirisena directly addressed the omission, stating, “Those who wish to undermine me might have expected to find details about the Easter attack in this book. But I have not written a single word about it.”

His remarks came amidst public curiosity surrounding his account of the tragic event, which remains a significant point of controversy in Sri Lanka’s recent history.

Sirisena further elaborated on the publication process of his memoir, revealing that it was printed abroad due to concerns about printing it locally, which led to a five-year delay in its release.

“This book was completed some years ago but remained unpublished. I felt the current political climate, under the new government, was the right time to share it with the public,” he explained.

However, Sirisena promised the public that an English version of the book will be released in a matter of several months and expand more into his political journey with details about the Easter Sunday carnage being mentioned.

By: Isuru Parakrama

October 06, Colombo (LNW): The police have called on the public to provide any additional information regarding leaked questions from the Grade 5 scholarship examination, beyond the three already identified, before 7 October 2024.

This appeal follows ongoing investigations into the suspected leak of exam questions, with the police determined to uncover the full extent of the incident.

Individuals with knowledge or evidence related to the leak are encouraged to report to the offices of Senior Superintendents of Police (SSP) across the island or the nearest police station.

All submitted information, including relevant documents, will be handled by the Divisional Criminal Investigation Unit and forwarded to the Criminal Investigation Department (CID) for further examination.

Authorities have assured the public that all reports will be thoroughly investigated. The police confirmed that prompt instructions have already been issued to the CID, ensuring swift action in addressing the alleged breaches.

Two suspects are currently in custody, as police continue to probe the leak of questions from the Grade 5 exam, held on 15 September 2024.

The investigation began following a complaint lodged by a Deputy Commissioner from the Examinations Department on 19 September. A breakthrough came on 22 September, when a 58-year-old official from the National Institute of Education, who had been part of the question-setting committee, was arrested.

This was followed by the arrest of a 49-year-old teacher from Alawwa on 24 September.

The first suspect is alleged to have shared seven exam questions with the teacher, three of which appeared on both the official examination and a model paper circulated on social media.

Investigators have so far confirmed that only three questions were leaked.

Both suspects remain in remand custody until 7 October, as the CID continues its inquiry.

Authorities are urging anyone with additional evidence to report it to the nearest police station, with the goal of uncovering any further irregularities in the exam process.

By: Isuru Parakrama

October 06, Colombo (LNW): President Anura Kumara Dissanayake paid a visit to the revered Jaya Sri Maha Bodhi in Anuradhapura yesterday to participate in religious observances and receive blessings.

His visit to this sacred site marks an important spiritual occasion following his recent presidential appointment.

Upon arriving at the historic Anuradhapura precincts, President Dissanayake was warmly welcomed by the Atamasthanadhipathi and Chief Administrator of the Anuradhapura Maha Viharaya, Most Venerable Pallekumbura Hemarathana Nayake Thero.

The two held a brief conversation, during which the President inquired about the Venerable Thero’s well-being. This meeting was followed by a series of religious ceremonies conducted by the Maha Sangha.

At the Udamaluwa of the Jaya Sri Maha Bodhi, President Dissanayake engaged in traditional religious rituals, participating in a blessing ceremony led by the Maha Sangha, who chanted Seth Pirith to invoke blessings upon him.

The ceremony was also attended by prominent religious leaders, including the Chief Incumbents of several significant temples, such as Lankarama, Ruwanwelisaya, Thuparama, Mirisavetiya, Abhayagiriya, and Isurumuni Raja Maha Viharaya, all of whom bestowed their blessings upon the President.

During the proceedings, the Atamasthanadhipathi Most Venerable Hemarathana Nayake Thero delivered a poignant address, noting the immense responsibility that now rests on President Dissanayake’s shoulders.

The Thero emphasised that as a leader from the North Central Province, the President has a particular duty to uplift the lives of the region’s residents, who have long endured hardships.

He also urged the President to safeguard the nation’s people, religion, and heritage.

The Thero acknowledged the complexities of the current political environment, expressing hope that President Dissanayake, with his wisdom and insight, could foster a more positive political culture in the country.

He further encouraged the President to focus on creating a comprehensive national policy that would benefit all citizens in the long term, noting that collaboration with Parliament members would be key to achieving this goal.

Following the religious proceedings at the Jaya Sri Maha Bodhi, President Dissanayake visited the revered Ruwanwelisaya, where he received further blessings from Chief Incumbent Venerable Ethalawetunawewa Gnanatilake Nayaka Thero.

The President participated in additional religious ceremonies before concluding his visit.

The event was attended by several prominent figures, including the Governor of the North Central Province Wasantha Jinadasa, District Secretary Ranjith Wimalasuriya, former MP Wasantha Samarasinghe, and representatives from the All Ceylon Farmers’ Federation, among others.

By: Isuru Parakrama

October 06, Colombo (LNW): Acting Inspector General of Police (IGP) Priyantha Weerasooriya has commended the Sri Lanka Police for fostering a positive image during the recent presidential election.

Addressing a gathering in Kalkudah, Weerasooriya highlighted the crucial role played by law enforcement in ensuring a peaceful post-election period, traditionally a time of heightened tension and potential unrest.

“The aftermath of political transitions often leads to post-election violence. However, this year, I witnessed the most peaceful period following an election in my years of service. It is a reflection of the new culture that has taken root, one that we must preserve for the benefit of both society and the police force,” Weerasooriya told media.

He went on to express his appreciation for the support provided by political leaders, acknowledging their efforts in creating an atmosphere conducive to such calm.

The Acting IGP further praised the efficiency of the police during the election, attributing the success to the professional conduct of officers, which has garnered recognition both locally and internationally.

According to the Acting IGP, this peaceful transition marks a turning point for the Sri Lanka Police, allowing them to recover from previous challenges and restore their reputation within the community.

He stressed the importance of maintaining this momentum, noting that the peaceful post-election environment serves as a testament to the police’s commitment to upholding law and order without bias.

By: Isuru Parakrama

October 06, Colombo (LNW): The Ministry of Finance has announced an increase in the special import tax on potatoes and big onions, aimed at supporting local farmers and stabilising domestic agriculture.

The import tax on potatoes has been raised by Rs. 10 per kilogramme, moving from Rs. 50 to Rs. 60.

Simultaneously, the tax on big onions has surged by Rs. 20 per kilogramme, increasing from Rs. 10 to Rs. 30.

These adjustments come in as part of the government’s broader strategy to protect local produce from the impact of cheaper imports, ensuring competitive pricing for locally grown crops.

The Ministry emphasised that these measures are essential to prevent the market from being flooded with imported goods, which could undercut local farmers struggling to maintain profitability.

With domestic production facing challenges due to weather and rising input costs, the government aims to create a more favourable environment for local producers.

The increase in import taxes is also expected to generate additional revenue for the state while encouraging consumers to turn to locally sourced vegetables.

However, these changes may lead to slight price increases for consumers in the short term, as imported goods become more expensive.

By: Isuru Parakrama

October 06, Colombo (LNW): The atmospheric conditions are getting favourable for afternoon thundershowers in most parts of the island from today (06), the Department of Meteorology announced in its daily weather forecast today,

Showers or thundershowers will occur at most places in the island during the afternoon or night, and showers may occur in Western, Sabaragamuwa, Northern and North-western provinces and in Galle, Matara and Trincomalee districts during the morning too.

Fairly heavy showers about 75mm are likely at some places in Northern, North-central, Eastern and Uva province.

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:

1. President Anura Kumara Dissanayake assures India’s External Affairs Minister Dr. S. Jaishankar that Sri Lanka would not allow its territory to threaten India’s security: The two leaders discussed mutual defence, economic cooperation, energy projects, and reconciliation efforts: Jaishankar reiterated India’s support for Sri Lanka’s economic recovery and Tamil reconciliation, emphasising Provincial Council elections and the 13th Amendment’s implementation: India’s continued economic assistance was acknowledged.
   
2. SLPP former MP Namal Rajapaksa announces nominations for the upcoming general election were submitted yesterday (05) at the party office: adds heartfelt thanks to the panel and everyone who signed in support: also assures the SLPP is looking forward to the journey ahead.
   
3. The United People’s Freedom Alliance (UPFA) and Sri Lanka Podujana Peramuna (SLPP) held discussions in Colombo on 4 October regarding their strategy for upcoming elections: Led by former Prime Minister Dinesh Gunawardena and SLPP’s Sagara Kariyawasam, the talks focused on the political climate and strategies for parliamentary, provincial, and local elections: This marks the first step in the UPFA’s engagement with other parties.
   
4. United Nations Resident Coordinator in Sri Lanka Marc-Andre Franche met President Anura Kumara Dissanayake, praising his manifesto and ethical political campaign: assures the UN’s support for Sri Lanka’s IMF programme, poverty eradication, anti-corruption efforts, and national peace initiatives: conveys UN Secretary-General Antonio Guterres’ greetings, commending the President’s commitment to fostering trust and peace among diverse communities.
   
5. Deputy Inspector General (DIG) Dhammika Priyantha has been appointed as the new Director of the State Intelligence Service (SIS), succeeding Major General Suresh Sallay, who recently retired.
   
6. The Public Health Inspectors’ Union reassures the public that imported coconut oil is safe, following proper inspections: Chairman Upul Rohana highlights imports are tested by food inspectors and meet legal standards: emphasises random checks are regularly conducted, and any contaminated products are removed: Concerns raised by local producers alleging unsafe imported oils are being investigated.
   
7. The 2023 (2024) Piriven Ordinary Level examination results were released online on 5th October. Students can access their results through the official websites www.doenets.lk and www.results.exams.gov.lk.
   
8. Sri Lanka Police urges the public to submit any evidence of additional exam question leaks from the 2024 Scholarship Examination by 7 October: Complaints can be filed at police stations or SSP offices: This follows allegations of three leaked questions, prompting investigations by the CID: The Education Ministry may re-examine based on findings, as paper marking is temporarily suspended.
   
9. Indian External Affairs Minister Dr. Jaishankar highlights Sri Lanka’s political turmoil two years ago resulted from both internal and external factors: Speaking at a Carnegie Endowment for International Peace event, he stressed how regional conflicts, such as those in Ukraine and the Middle East, impact the global south, causing instability and heightened anxiety in an already fragile global economy.
   
10. Australia defeats Sri Lanka by six wickets in Sharjah, starting their Women’s T20 World Cup 2024 title defence successfully: Sri Lanka, opting to bat, struggled against Australia’s experienced bowling, managing just 92 runs in 20 overs: Despite early losses, opener Beth Mooney led Australia to an easy win, achieving the target with over five overs remaining.

October 05, Colombo (LNW): The Colombo Stock Exchange (CSE) saw positive momentum in September 2024, with the All Share Price Index (ASPI) rising 9.1% month-on-month (MoM), closing at 11,855 points, an increase of 986 points. The more liquid S&P SL20 index also recorded a significant 12.9% MoM rise, reaching 3,453 points, a jump of 395 points, according to CT CLSA Research’s monthly market review.

Average daily turnover surged to Rs.1,653 million in September 2024, compared to Rs.704 million in August 2024. Key contributors to the monthly turnover included Hatton National Bank-Voting (HNB-N, Rs.4,706 million from 27 million shares), Commercial Bank of Ceylon-Voting (COMB-N, Rs.3,071 million from 35 million shares), and John Keells Holdings (JKH, Rs.2,478 million from 15 million shares).

However, the bourse saw a net foreign outflow of Rs.638 million in September, reversing the Rs.83 million net inflow recorded in August. Despite this, there was net foreign buying in companies like John Keells Holdings (+Rs.229 million), Richard Pieris and Company (+Rs.203 million), and Sampath Bank (+Rs.43 million). On the other hand, East West Properties (-Rs.519 million), United Motors Lanka (-Rs.136 million), and Commercial Bank of Ceylon-Voting (-Rs.126 million) faced net foreign selling.

In early October, the market experienced profit-taking. The ASPI dipped slightly to 11,930 points, losing 4 points or 0.04%. The major contributors to the index’s decline were HNB, Sampath Bank (SAMP), Commercial Bank of Ceylon (COMB), Hayleys (HAYL), and John Keells Holdings, with notable selling pressure on banking stocks. However, Ceylinco Insurance (CINS) made positive contributions to the index.

October 4 also marked the debut of PickMe (PKME), whose shares rose by 8.3% on the first day of trading. Market turnover for the day stood at LKR 1.3 billion, down 41.8% from the previous day, with the Banking sector leading with 26.8% of the turnover, followed by Diversified Financials and Capital Goods sectors contributing 34.9%. A net foreign outflow of LKR 18 million was recorded, indicating continued interest in external investments.