The Presidential Secretariat has launched the second phase of its vehicle auction, offering 27 luxury and decommissioned vehicles for public bidding, in a move aimed at promoting fiscal responsibility and reducing government expenditure.

The vehicles, manufactured between 1991 and 2016, include a wide range of high-end and utility models:

• 2 BMW cars
• 2 Ford Everest SUVs
• 1 Hyundai Terracan SUV
• 2 Land Rover SUVs
• 1 Mitsubishi Montero
• 3 Nissan petrol cars
• 2 Nissan-type motor cars
• 1 Porsche Cayenne
• 5 SsangYong Rexton SUVs
• 1 Land Cruiser Sahara SUV
• 6 V8 vehicles
• 1 Mitsubishi Rosa air-conditioned bus

Tender documents can be obtained from the Finance Division on the second floor of the Sema Building at the Presidential Secretariat, from 9 a.m. to 3 p.m. on working days until May 14. Interested bidders may inspect the vehicles at the Salusala premises, No. 93, Jawatte Road, during the same period.

This phase follows the successful first round of auctions, which saw the sale of 14 luxury vehicles, six decommissioned vehicles, and various spare parts, including nine Defender Jeeps.

According to officials, the vehicles being auctioned were not assigned to Presidential Secretariat staff, but were instead used by advisors and appointees under Article 41(1) of the Constitution during the tenure of the former President.

President Anura Kumara Dissanayake extended his warm congratulations to Pope Leo XIV on his election as the new leader of the Catholic Church, recognizing the immense responsibility the role entails.

In a message posted on X (formerly Twitter), the President conveyed his best wishes to the newly elected Pope, emphasizing the global significance of the papacy.

“Congratulations to His Holiness Pope Leo XIV on your election as the new leader of the Catholic Church. Your role carries great responsibility, and I wish you strength and wisdom as you guide the faithful. May your leadership bring hope and inspiration to people around the world. Warm regards from Sri Lanka,” the President said.

Pope Leo XIV succeeds in a time marked by complex global challenges, and world leaders—including President Dissanayake—have welcomed his appointment with messages of solidarity and hope.

Showers or thundershowers will occur at several places in Central, Sabaragamuwa, Uva and Southern provinces and in Ampara and Batticaloa district after 1.00 p.m.

Showers may occur in Western province and in Puttalam, Galle, Matara and Rathnapura districts in the morning too.

Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces during the morning.

Minister of Health and Mass Media and Chief Government Whip, Dr. Nalinda Jayatissa, has been elected as the President of the Sri Lanka–India Parliamentary Friendship Association for the Tenth Parliament, the Department of Communications of Parliament announced.

The revival meeting of the Friendship Association was held on May 8, 2025, in Parliament under the patronage of Speaker Dr. Jagath Wickramaratne. The event was graced by the High Commissioner of India to Sri Lanka, Santosh Jha, as Guest of Honour and attended by key dignitaries including Deputy Speaker Dr. Rizvie Salih, Opposition Leader Sajith Premadasa, Ministers, Deputy Ministers, Members of Parliament, and Secretary General of Parliament Mrs. Kushani Rohanadeera.

During the session, Dr. Kavinda Jayawardhana was elected as the Secretary of the Friendship Association.

In their remarks, both Sri Lankan and Indian representatives underscored the historical and enduring relationshipbetween the two countries, emphasizing the need to strengthen parliamentary ties through ongoing dialogue and exchange initiatives.

Speaker Dr. Wickramaratne expressed his gratitude to India for its unwavering support during Sri Lanka’s most critical times and cited President Anura Kumara Dissanayake’s recent state visit to India as a milestone in expanding bilateral cooperation.

He also acknowledged India’s role in organizing the upcoming Capacity Building Programme for newly elected Sri Lankan MPs, to be conducted by India’s Bureau of Parliamentary Studies and Training later this month.

High Commissioner Santosh Jha, addressing the gathering, reflected on Indian Prime Minister Narendra Modi’s recent visit to Sri Lanka and reaffirmed India’s commitment to supporting Sri Lanka across various sectors.

In his address, Dr. Jayatissa highlighted the importance of the Association in serving as a bridge between the two parliaments, expressing confidence in its role in fostering deeper and more meaningful engagement.

Dr. Jayawardhana, in his vote of thanks, expressed sincere appreciation to India for its enduring friendship and reaffirmed Sri Lanka’s dedication to ongoing bilateral collaboration.

In a decisive move hailed by policy think tank Advocata Institute, the Sri Lankan Cabinet has given overwhelming approval to the proposed Gambling Regulatory Bill—a significant milestone in the country’s long-awaited efforts to formalise and regulate its gaming industry.

 The new legislation promises to establish a transparent, accountable, and efficient framework for the casino and broader gaming sectors, addressing years of regulatory neglect and positioning Sri Lanka as a credible destination for investment and tourism.

Advocata welcomed the Cabinet’s decision, calling it a vital step towards closing regulatory gaps, reducing revenue leakages, and improving investor confidence. The institute emphasized that a well-structured regime is not only crucial for economic integrity but also for unlocking the sector’s full potential in terms of foreign direct investment, tourism promotion, and foreign exchange earnings.

The think tank has long advocated for comprehensive reform in this area, most recently through its 2024 report, “A Comprehensive Policy Framework for the Gaming Industry of Sri Lanka.” In the report, Advocata highlighted how the absence of clear regulations had deterred reputable investors, compromised tax revenue, and hampered growth.

With other nations in the region—such as Thailand and the UAE—rapidly liberalising their own gaming industries, the urgency for reform in Sri Lanka is greater than ever.

Advocata stressed that while the Cabinet’s green light demonstrates governmental commitment, the success of the reform hinges on the swift operationalisation of the proposed Gambling Regulatory Authority.

It called for this process to be accompanied by a transparent public consultation mechanism that includes input from academics, industry experts, civil society, and the general public. According to the Institute, meaningful stakeholder engagement is essential to building a credible, socially responsible, and forward-thinking regulatory system.

To ensure global best practices are followed, Advocata recommends that the final Bill incorporate several key principles. These include stringent licensing protocols to ensure ethical operations, modernised tax collection systems to prevent revenue loss, and robust consumer protection measures to curb compulsive gambling and associated social harms.

 Additionally, Advocata argues for an independent regulatory authority free from political and industry interference, backed by ongoing public participation to boost transparency and accountability.

The Institute reiterated its commitment to collaborating with policymakers, industry leaders, and community representatives to ensure that Sri Lanka’s gaming legislation reflects not only economic goals but also the broader public interest. Advocata is calling on the media and all stakeholders to join the national conversation as the country stands on the cusp of a transformative shift in its gaming policy landscape.

Sri Lanka’s gross official foreign exchange reserves declined by USD 205 million in April 2025, falling to USD 6.33 billion from USD 6.53 billion in March, official data shows. The drop underscores continued pressure on the country’s external financial position despite moderate central bank dollar purchases.

The current reserve level also falls below the USD 6.47 billion recorded in October 2024, when the Central Bank had injected liquidity into the system to suppress overnight interest rates amid a surge in private sector credit demand. Although such monetary injections were discontinued in early 2025, excess liquidity continues to persist due to unsterilized foreign exchange purchases—where the Central Bank buys dollars without offsetting the resulting rupee inflow.

This unsterilized liquidity fuels domestic credit growth, raising imports and thereby undermining the Central Bank’s ability to build reserves. In addition, ongoing sovereign and central bank debt repayments, including those to India for crisis-era loans, continue to erode the Central Bank’s net foreign assets.

While gross reserves remain positive, repayments reduce the actual usable reserves, tightening the country’s financial flexibility. The Central Bank, acting as the government’s fiscal agent, also supplies foreign currency for external debt servicing, further straining reserve levels.

Experts warn that without a shift toward a more deflationary monetary policy—through slightly higher interest rates and better liquidity management—Sri Lanka will struggle to retain its reserves. The Treasury’s reliance on the Central Bank’s policy direction, combined with the absence of an independent forex trading mechanism, adds to the structural challenges.

Under the current “single policy rate” framework, liquidity mismatches are frequent. When the government issues Treasury bills for rupee financing and converts the proceeds into foreign reserves, systemic liquidity contracts, pushing interest rates up. To counteract this, the Central Bank injects liquidity, thereby undermining the tighter monetary conditions needed to support reserve accumulation.

Despite improved tax revenue and a slowdown in government borrowing in early 2025, the country’s reserve position remains fragile. April’s decline suggests that Sri Lanka’s current reserves may be just enough to meet near-term external obligations.

Reserve management continues to follow international best practices under the Central Bank’s oversight. Governance is supported by risk controls, ethical compliance frameworks, and business continuity protocols, all overseen by the International Reserve Investment Oversight Committee and monitored by the Board Risk Oversight Committee.