Former State Intelligence Service Director Suresh Salley has been taken into custody by Sri Lankan authorities in connection with the ongoing investigation into the 2019 Easter Sunday bombings.
Sources confirmed that the arrest was made this morning (25) by officers of the Criminal Investigation Department (CID).
Paramount Skydance has increased its offer to acquire Warner Bros Discovery, potentially sidelining rival bidder Netflix in the contest for the media giant.
Warner Bros, which put itself up for sale last year, confirmed that Paramount has agreed to raise its bid by $1 per share. The company’s board said the revised offer “could reasonably be expected to lead to a superior proposal.”
The board added that it would engage in further discussions before deciding whether to abandon the agreement it reached with Netflix in December.
Under the terms of that December deal, Netflix agreed to acquire Warner Bros’ film and streaming divisions, including HBO, for $27.75 per share—valuing the transaction at approximately $82 billion, including debt. Warner Bros also said it would spin off its remaining assets, including traditional television networks and CNN, into a separate independent company.
Following Paramount’s revised offer, Netflix has four days to submit a counter-offer. The company has not yet commented on the latest development.
In a recent BBC interview conducted before Paramount’s increased bid was announced, Netflix co-chief executive Ted Sarandos declined to speculate on a potential bidding war, describing the negotiations as “part of the process.”
“We very much like the deal where we’re at right now. We’re very disciplined buyers and we always have been,” Sarandos said, adding that the situation was “a process of price discovery.”
Paramount Skydance, backed by tech billionaire Larry Ellison and led by his son David Ellison, has been actively pursuing Warner Bros since last year in a bid to strengthen its position in Hollywood. Although its initial offer proposed paying $30 per share to acquire the entire company, Warner Bros had previously rejected those advances.
The latest proposal raises the offer to $31 per share in cash, with additional payments if the deal’s completion is delayed. Paramount has also agreed to pay $7 billion if the deal collapses and to cover the $2.8 billion break-up fee Warner Bros would owe Netflix if it terminates the existing merger agreement.
Warner Bros said its board has not yet reached a final decision.
Both proposals have attracted scrutiny from US lawmakers over potential monopoly concerns and the broader impact on the entertainment industry. During a recent congressional hearing, Sarandos faced questions about possible price increases and the future of cinemas.
The Ellison family’s ties to the Trump administration have also drawn attention from Democratic lawmakers.
Warner Bros said it would continue discussions to determine whether a “superior proposal” can be reached. Analysts suggest the bidding could escalate further, with some estimating the final price could rise to as much as $33 per share.
The Inland Revenue Department’s new Privilege Card programme has ignited debate over how far a revenue authority should go in rewarding its largest contributors. Positioned as a compliance recognition initiative, the scheme offers streamlined administrative access to individuals who meet stringent filing and payment standards and who have contributed millions in income tax during the preceding Year of Assessment.
Under the framework, taxpayers who have demonstrated punctual filing, full settlement of liabilities and proper remittance of source-deducted taxes may qualify for either Silver or Gold status, depending on the scale of their contributions. The thresholds are substantial, underscoring that the initiative targets a narrow but financially significant segment of the taxpayer base.
Cardholders are granted priority engagement with senior officials, faster communication channels within their Tax Services Units and on-site advisory support when required. While the benefits do not include tax concessions or financial incentives, they create a clear hierarchy of administrative access.
Supporters argue that such differentiation is pragmatic. A relatively small pool of high-income taxpayers often accounts for a significant share of direct revenue, and maintaining strong relationships with them enhances predictability and reduces compliance disputes. Recognition may also function as a behavioural incentive, reinforcing a culture in which timely tax payment is associated with prestige rather than obligation.
Opponents, however, caution against the optics of exclusivity. Public institutions traditionally operate on principles of uniform service, and introducing privileged access could be perceived as institutionalising inequality. At a time when governments emphasise fairness and shared sacrifice, visible distinctions between ordinary taxpayers and elite contributors may invite scrutiny.
The broader significance of the scheme lies in what it signals about administrative philosophy. The IRD appears to be adopting a client-segmentation model common in modern revenue systems, blending enforcement with engagement. The success of this experiment will depend not on the number of Gold Cards issued, but on whether the Department can maintain transparency, safeguard equal treatment and strengthen overall trust in the tax system.
In the end, the Privilege Card is less about symbolism than about strategy. It reflects a calculated effort to secure revenue stability by cultivating loyalty among top contributors. Whether that strategy enhances compliance culture or deepens perceptions of disparity will shape public judgment in the years ahead.
Sri Lanka stands at a crossroads between relief and renewal, according to the International Monetary Fund. The country has moved beyond the brink of collapse, yet the IMF warns that without deeper reforms, the promise of transformation may stall.
Addressing investors in Colombo, IMF Resident Representative Dr. Martha Woldemichael outlined a demanding roadmap. Her message was forward-looking but firm: stabilisation achieved under the Extended Fund Facility must evolve into systemic economic change.
The IMF’s managing director, Kristalina Georgieva, recently lauded Sri Lanka’s progress. Growth has returned. Inflation is subdued. Debt restructuring is nearing completion. Government revenue has climbed from 7.3% of GDP in 2022 to 12.4% in 2024. These are not cosmetic improvements they signal a country regaining macroeconomic footing.
Yet the IMF’s constructive critique focuses on what lies beneath the surface. Sri Lanka’s economic model, long reliant on narrow export bases and policy inconsistency, must diversify and modernise. Trade liberalisation and integration into global supply chains are framed as growth multipliers. Labour market reforms particularly boosting female workforce participation are described as untapped engines of productivity.
Digital transformation features prominently in the IMF’s vision. Automating tax systems and public services is seen as a way to expand compliance, reduce corruption vulnerabilities, and increase state capacity. Predictable regulatory frameworks and restrained, transparent tax incentives are positioned as prerequisites for attracting foreign direct investment.
But the toughest conditions relate to discipline. The IMF stresses the need to avoid monetary financing, maintain Central Bank independence, and preserve cost-recovery energy pricing. These measures, though technocratic in language, carry political weight. Rolling them back could quickly erode hard-won stability.
The Fund also emphasises fiscal buffers. Stronger reserves and credible public debt management are described as insurance against future shocks. “Buffers buy the ability to absorb shocks swiftly,” Woldemichael noted, underscoring the fragility of recovery in a volatile global environment.
Importantly, the IMF acknowledges the human cost of adjustment. With a recent cyclone threatening to push thousands into poverty, sustaining social protection programmes is not optional—it is foundational. Reform sustainability depends on public buy-in, and public buy-in depends on visible fairness.
This dual message discipline with equity defines the IMF’s current stance. Sri Lanka is no longer in freefall, but it is not yet future-proof. The next phase requires more than compliance with quarterly targets; it demands structural re-engineering of trade, labour, governance, and investment frameworks.
The IMF’s position can be read as both endorsement and warning. Progress is tangible, but the window for transformation is narrow. Policy inconsistency, reform fatigue, or political short-termism could squander the opportunity.
Sri Lanka’s challenge now is to convert IMF-backed stabilisation into self-sustaining growth. The bailout chapter may be closing. The breakthrough chapter, however, has yet to be written.
Sri Lanka’s decision to centralize trade inspections under Sri Lanka Customs is being portrayed by policymakers as a necessary corrective to systemic weaknesses. But beneath the surface, the reassignment of powers from the Board of Investment raises broader questions about economic governance, institutional balance, and long-term competitiveness.
The government’s rationale rests on three pillars: fiscal accountability, legal consistency, and international obligations. A July 2025 assessment by the International Monetary Fund emphasized revenue mobilization as central to Sri Lanka’s recovery program. As part of that framework, authorities reportedly agreed to vest Customs with full control over goods entering and exiting special economic zones.
Officials argue that overlapping jurisdictions created grey areas ripe for abuse. Allegations of smuggling and the unlawful sale of duty-free inputs into the local market have fueled calls for tighter supervision. From a governance standpoint, consolidating inspection authority under a single statutory body could enhance transparency and reduce opportunities for regulatory arbitrage.
However, the broader economic calculus is more complex. The BOI’s operational model was designed not merely as a regulatory mechanism but as an investor facilitation service. By providing expedited clearance and on-site inspection within zones, it reduced transaction costs and signaled a pro-business environment. The shift to centralized Customs oversight alters that dynamic fundamentally.
Economists warn that reform must balance enforcement with facilitation. If Customs procedures prove slower or more cumbersome, the cost of compliance could rise for exporters already grappling with thin margins and volatile global demand. The apparel sector, heavily reliant on strict shipment deadlines, may be particularly vulnerable.
Infrastructure readiness is another pivotal factor. Customs will need robust digital integration, risk-based inspection systems, and expanded human resources to manage increased volumes. Without such enhancements, congestion at ports and free trade zones could ripple through the economy, affecting foreign exchange earnings and investor sentiment.
Supporters of the reform counter that credible enforcement strengthens investor confidence in the long term. Transparent, uniform procedures can reduce perceptions of favoritism and ensure a level playing field. Moreover, plugging revenue leakages bolsters public finances an essential prerequisite for macroeconomic stability.
The policy’s phased rollout, including a pilot at Katunayake, suggests authorities recognize the operational challenges ahead. The success of that trial period will likely shape investor perceptions and determine whether the transition becomes a model of institutional modernization or a cautionary tale.
Ultimately, the issue transcends administrative reshuffling. It touches on Sri Lanka’s strategic positioning in a competitive Asian manufacturing landscape. The outcome will depend not only on the intent behind the reform but on its execution whether it can harmonize fiscal discipline with the agility demanded by global trade.
The Ministry of Energy has announced the appointment of a seven-member committee to review the existing coal supply mechanism to the Norochcholai Lakvijaya Power Plant.
Professor W.D.A.S. Rodrigo, Head of the Department of Electrical Engineering at the University of Moratuwa, has been appointed as Chairman of the committee.
The committee comprises the following members:
The committee is expected to examine the current coal procurement and supply process and provide recommendations aimed at improving efficiency and transparency.
The Department of Motor Traffic (DMT) has taken steps to address a major backlog by printing and issuing permanent driving licence cards to individuals who had previously been issued temporary licences due to a card shortage.
Commissioner General of Motor Traffic Kamal Amarasinghe stated that around 400,000 permanent licences have been issued so far to clear the backlog.
The initiative is being supported by the expansion of service locations for processing licences, including Werahera, Bandaranaike International Airport (BIA), Kurunegala, Hambantota, Gampaha, Anuradhapura and Jaffna as of February 2026.
He further noted that an additional 100,000 permanent driving licence cards have already been printed and will be distributed to temporary licence holders in the coming days.
The procurement process for a further one million licence cards has been completed, and steps will be taken to import them in due course, the Commissioner General added.
Cabinet Spokesman and Minister Nalinda Jayatissa stated that the coal procurement process was carried out in full compliance with established procurement guidelines, rejecting allegations raised by opposition lawmakers.
Addressing the weekly post-Cabinet media briefing, the Minister said the current coal tender was conducted through a formal procurement process and received approval from the relevant authorities, including the Procurement Commission.
He noted that 26 registered suppliers had obtained bidding documents, of which 10 submitted bids. An initial period of 21 days was granted for submissions and later extended to 28 days, followed by a designated appeals period. No appeals were filed by unsuccessful bidders.
“If there had been irregularities, the companies that were not awarded the tender would normally have submitted appeals. No such appeals were received,” he said.
Jayatissa explained that under the procurement procedure, a load port inspection report from a recognized laboratory is obtained before shipment acceptance. Only consignments with a calorific value above 5,900 kilocalories per kilogram (kcal/kg) are accepted.
Upon arrival in Sri Lanka, a discharge port inspection report is conducted through an internationally recognized laboratory. He said Cotecna had been selected through a procurement process for a two-year period to carry out these inspections.
According to the Minister, penalties are imposed if shipments fail to meet the specified calorific standards. A double penalty is charged if the value falls below 5,900 kcal/kg, while a single penalty applies for consignments between 5,900 and 6,150 kcal/kg. Shipments exceeding 6,150 kcal/kg are accepted without penalty.
He said 10 vessels have arrived so far, with eight fully unloaded and the remaining currently being discharged. Inspection reports have been received for six shipments.
The first shipment, comprising 59,831 metric tonnes, was found to be below the required standard, resulting in a penalty of approximately US$ 2.07 million. Additional penalties were imposed on other shipments: US$ 436,000 for the second, US$ 484,929 for the third, US$ 345,652 for the fourth, approximately US$ 500,192 for the fifth, and US$ 510,677 for the sixth.
Jayatissa further stated that in previous years, there had been instances where shipments were accepted without proper verification of load port and discharge port reports. However, he said enhanced verification measures have been introduced this year, including authentication of the Indian load port laboratory for the first time.
He added that a committee comprising experts from the University of Moratuwa and officials from the Ministry will be appointed to examine technical issues in the inspection reports and assess any potential losses. Steps have already been taken by the Secretary to the Ministry of Power and Energy to appoint the committee.
The Minister maintained that the current coal procurement process has adhered to the established legal and regulatory framework.
The Cabinet of Ministers has approved the proposal to gazette a draft bill seeking to amend the Social Security Contribution Levy Act No. 25 of 2022.
In line with the 2026 Budget proposals, the Legal Draftsman has prepared the draft legislation to revise provisions of the existing Act.
The Attorney General has granted clearance for the draft bill.
Accordingly, the Cabinet approved the resolution submitted by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development to publish the draft bill in the Government Gazette and subsequently present it to Parliament for approval.
The Public Utilities Commission of Sri Lanka (PUCSL) will conduct public consultation sessions from today (February 20) until March 18 regarding the proposal submitted by the Ceylon Electricity Board (CEB) to revise electricity tariffs for the second quarter of 2026.
According to the PUCSL, members of the public may submit comments and suggestions both verbally and in writing during this period. Consultation sessions are expected to be held across all nine provinces. Following the conclusion of the consultations, the Commission will make a decision on the proposed tariff revision after considering public submissions and other relevant factors.
The CEB submitted its proposal to the PUCSL on February 13, seeking a 13.56 percent increase in electricity tariffs for the second quarter of 2026, covering the period from April 1 to June 30.
Previously, the CEB had proposed an 11.57 percent tariff increase for the first quarter of 2026; however, that proposal was not approved by the PUCSL.
Written submissions can be sent to:
“Public Consultation on the Second Electricity Tariff Revision for 2026”
The Chairperson,
Public Utilities Commission of Sri Lanka,
6th Floor, BOC Merchant Tower,
28 St. Michael’s Road,
Colombo 03
Fax: 011 2392641
WhatsApp: 076 4271030
Email: [email protected]
Website: www.pucsl.gov.lk
Facebook: www.facebook.com/pucsl
In addition to written submissions, the Commission will conduct a series of public hearings where citizens may present oral feedback.
Public hearing schedule and registration contact numbers:
The PUCSL has requested all stakeholders and members of the public to participate in the consultation process to ensure transparency and inclusivity in the proposed electricity tariff revision.