December 06, Colombo (LNW): The Ceylon Electricity Board (CEB) has confirmed that it will submit its proposal for revising electricity tariffs to the Public Utilities Commission of Sri Lanka (PUCSL) today (06).
CEB Chairman Dr. Thilak Siyambalapitiya assured that the submission would proceed as planned. This proposal aims to revise tariffs for the first half of 2025, with implementation expected from the third week of January.
Under the former government, electricity tariffs were revised quarterly. However, in 2023, three revisions were made, while the current government has limited these changes to twice annually.
The submission follows an earlier tariff revision proposal in October for implementation in December. This included a proposed reduction of approximately 6% in electricity tariffs. However, PUCSL flagged significant errors in the document and requested corrections.
Despite granting multiple extensions—from November 8 to November 22, and finally to today—the PUCSL has warned that it will independently proceed with the tariff revision if the corrected proposal is not submitted on time.
The UK-Sri Lanka Trade Mission, held from December 2-6 under the UK-funded SheTrades Commonwealth+ Program, is strengthening economic ties between the two nations while spotlighting women-led businesses.
Co-organized by the International Trade Centre (ITC) and the Sri Lanka Export Development Board (EDB), the mission aims to enhance bilateral trade and expand UK market access for Sri Lankan women entrepreneurs in textiles, apparel, and processed agrifood sectors.
The initiative brings together 13 UK companies and 45 Sri Lankan women entrepreneurs, facilitating business-to-business (B2B) interactions and field visits across Colombo, Kurunegala, and Jaffna.
The UK, Sri Lanka’s second-largest export market, saw an 8% rise in exports to $765.67 million during the first 10 months of 2024, highlighting the growing trade relationship.
The event’s opening in Colombo featured remarks by key figures, including British High Commissioner Andrew Patrick, Deputy Minister Chathuranga Abeysinghe, EDB Chairman Mangala Wijesinghe, and UN Resident Coordinator Marc-André Franche.
High Commissioner Patrick emphasized the role of trade in empowering women and called for collective efforts to support women-led small and medium enterprises (SMEs) in global markets. Deputy Minister Abeysinghe lauded the initiative’s focus on geographic inclusivity, particularly in the northern region, and its potential to transform Sri Lanka’s economy.
EDB Chairman Wijesinghe highlighted the vital role of women entrepreneurs in fostering innovation and growth, stressing the need to address their underrepresentation in international trade. UN Resident Coordinator Franche echoed this sentiment, stating that achieving Sri Lanka’s export goals is impossible without prioritizing women entrepreneurs.
A panel discussion titled “Unlocking Sri Lanka’s Untapped Export Potential” featured experts from the UK Foreign Commonwealth and Development Office (FCDO), EDB, and private-sector leaders. The session explored strategies to enhance Sri Lankan exports, particularly from women-led businesses.
Preceding the B2B meetings, participants attended information sessions on sector overviews and export landscapes. Presentations covered the UK’s trade preferences, market entry requirements, and opportunities under the UK Developing Country Trading Scheme (DCTS).
Participants praised the initiative for fostering networking and knowledge-sharing. Khushnood Ahmed, Director of Hometex, described the mission as a positive step for women’s economic empowerment. Tayub Amjad of Zouk Group noted the value of the program in connecting with potential business partners.
The SheTrades Commonwealth+ Program, funded by the UK Government, promotes a gender-inclusive business ecosystem through policy advocacy, data insights, and partnerships with private and public sectors in Commonwealth countries and beyond. This mission underscores its commitment to empowering women entrepreneurs and driving inclusive economic growth.
December 06, Colombo (LNW): Renuka Perera, the Administrative Secretary of the Sri Lanka Podujana Peramuna (SLPP), was granted bail today by the Colombo Magistrate’s Court under conditions of a bond valued at 1 million rupees.
Perera was arrested earlier in the day by the Criminal Investigation Department (CID) in Kotikawatta. The arrest was made in connection with allegations of spreading false information related to the Maaveerar Day celebrations.
The court proceedings and subsequent bail underscore the ongoing scrutiny of individuals accused of disseminating misinformation, especially concerning sensitive national events. Further investigations are underway.
December 06, Colombo (LNW): President Anura Kumara Dissanayake announced that Sri Lanka’s current political stability has fostered an environment conducive to investment, emphasizing the nation’s readiness to attract clean and impactful investments. He assured that political influence would play no role in granting new investment opportunities, and the Board of Investment of Sri Lanka (BOI) would be granted full autonomy to fulfill its mandate.
The President made these remarks during a meeting with senior BOI officials at the Presidential Secretariat in Colombo yesterday (05), as reported by the President’s Media Division (PMD).
Highlighting the importance of achieving both political and financial stability, President Dissanayake stated that the BOI holds a critical responsibility in driving the nation’s economic growth. He stressed the need for the BOI to remain committed to its duties and assured the institution of complete independence to attract meaningful and sustainable investments.
The President also revealed that the upcoming budget would allocate resources to enhance the BOI’s operational efficiency. Furthermore, he announced plans to establish five new investment zones across the country in the coming year, aiming to diversify and bolster the nation’s investment landscape.
The meeting was attended by Secretary to the President Dr. Nandika Sanath Kumanayake, BOI Chairman Arjuna Herath, BOI Director General Renuka M. Weerakone, and other senior officials.
President Anura Kumara Dissanayake emphasized that he regards the media not as outsiders but as an integral part of the effort to build a better state and improve the lives of all citizens. He made these remarks during a meeting held with the heads of electronic media organizations at the Presidential Secretariat in Colombo, the President’s Media Division (PMD) reported.
President Anura Kumara Dissanayake stated that with the political stability that has prevailed in the country today, an environment suitable for investment has been created. He further emphasized that there will be no political influence in granting new investment opportunities, such as those based on political affiliations. The President assured that the Board of Investment of Sri Lanka (BOI) would be granted full autonomy to attract clean investments that are beneficial to the country.
The government has presented an interim Vote on Account for the initial four months of 2025, allocating close to Rs. 1,402 billion for maintaining state affairs and continuing ongoing projects.
Sri Lanka vowed Thursday to complete its long-delayed foreign debt restructure within the month before a 2025 budget adhering to strict revenue targets set by the International Monetary Fund. The island nation defaulted on its $46 billion external debt in April 2022 after running out of foreign exchange to finance even the most essential imports such as food and fuel.
The deadline for submitting income and expenditure reports for all candidates who contested in the parliamentary elections ends at midnight today. Executive Director of People’s Action for Free and Fair Elections (PAFFREL) Rohana Hettiarachchi emphasized that nearly 20% of these reports have already been submitted at the district level.
The Administrative Secretary of the Sri Lanka Podujana Peramuna (SLPP) Renuka Perera has been released on bail by the Colombo Magistrate’s Court. He was arrested by the Criminal Investigation Department (CID) for allegedly posting false information on social media regarding ‘Mahaviru’ (Maaveerar Naal) commemorations in the North.
The Embassy of Sri Lanka in Lebanon in association with the International Organization of Migration (IOM) has arranged to evacuate a total number of 55 vulnerable Sri Lankan workers from Lebanon on group basis. Accordingly, the latest group of 26 arrived in Colombo on 04 December in the evening, the Embassy of Sri Lanka in Beirut said.
The World Bank has expressed its commitment to supporting the Government of Sri Lanka’s “Clean Sri Lanka” programme, as announced by World Bank Executive Director Parameswaran Iyer during a meeting with President Anura Kumara Dissanayake at the Presidential Secretariat. Congratulating the President on forming the new government, Mr. Iyer affirmed that all ongoing World Bank-supported projects in Sri Lanka will continue uninterrupted.
Lanka Sathosa has announced measures to ensure the sale of rice and coconuts at controlled prices as announced by the Minister of Trade recently to ensure continuous supply during the festive season. Minister Wasantha Samarasinghe told Parliament yesterday that Rice Millers agreed to supply 200,000 kilos of rice daily, while one million coconuts will also be sold for Rs. 130 through Sathosa outlets.
The Sri Lanka Under-19 team, led by Vihas Thewmika, will meet the India Under-19 team in the Asia Cup semi-final today at Sharjah Cricket Stadium, commencing at 10:30 a.m. The Sri Lanka youth team finished the league round with an unbeaten record, having back-to-back three wins, while the India team, led by Mohamed Amaan, lost to Pakistan in their first group match but fought back strongly to win the next two matches against UAE and Japan, finishing in second place in the points table to reach the semi-final.
December 06, Colombo (LNW): President Anura Kumara Dissanayake has instructed officials to implement a structured and transparent mechanism for issuing excise licences. These directives were delivered during a meeting held yesterday (5) with senior officials of the Excise Department at the Presidential Secretariat.
The President underscored the importance of adhering to the law, avoiding abuse of power, and ensuring timely tax collection. Addressing challenges in excise tax collection and associated irregularities, he emphasized revamping the system to improve efficiency and transparency. Suggestions included collecting overdue taxes, revoking licences of blacklisted institutions, and tackling entities that fail to collect taxes appropriately.
Discussions also highlighted shortcomings in current tax collection regulations and weaknesses in the recruitment system for excise officers. President Dissanayake expressed concerns over the public’s negative perception of the Excise Department and stressed the need to manage its operations to support the national economy effectively.
Additionally, officials briefed the President on production and packaging challenges, drawing attention to the harmful effects of artificial toddy on public health.
Excise Commissioner Rohana Senarathna, Deputy Commissioner R.V.S. Tissa Kumara, Assistant Commissioner M.J. De Silva, Chief Financial Officer G.A. Chandani, Chief Accountant W.R. Paranagama, and other senior officials were present at the meeting.
December 06, Colombo (LNW): The National General Secretariat for Persons with Differently Abled, under the Ministry of Rural Development, Social Protection, and Community Empowerment, organized a national celebration for the International Day of Persons with Disabilities on December 3 at Polhena Beach, Matara. The event attracted over 400 individuals with disabilities from various districts, along with local and foreign visitors.
This year’s program focused on fostering leadership qualities among people with disabilities and encouraging inclusive tourism in Sri Lanka. Attendees participated in entertainment activities and competitions, including beach volleyball, with facilities designed for accessibility, such as a mobile toilet for wheelchair users provided by the Army. Emotional performances by children with disabilities moved participants, making the event memorable and impactful.
The celebration aimed to improve accessible infrastructure for persons with disabilities, promote workplace diversity, and encourage innovation to reduce disparities in both public and private sectors. Representatives from government institutions, the private sector, educators, healthcare workers, and parents of children with disabilities were among the attendees, along with support from the security forces.
The event was supported by a wide array of public and private institutions, including the Matara District Secretariat, Matara Municipal Council, National Water Supply and Drainage Board, and Sri Lanka Police. Educational institutions like Rohana Special School and Olcott College also contributed, alongside tourism sector representatives and voluntary organizations.
The program was coordinated by the Social Services Division of the Matara District Secretariat. It reflected Sri Lanka’s commitment to creating an inclusive and accessible society while aligning with the global observance of the International Day of Persons with Disabilities, declared by the United Nations to promote awareness, dignity, and the well-being of persons with disabilities.
December 06, Colombo (LNW): Showers or thundershowers may occur at several places in Western, Sabaragamuwa and Southern provinces and in Nuwara-Eliya and Kandy districts during the evening or night.
Mainly fair weather will prevail elsewhere.
Misty conditions can be expected in most places of the island during the morning.
The general public is kindly requested to take adequate precautions minimize damages caused by temporary localized strong winds and lightning during thundershowers.
December 05, Colombo (LNW): The World Bank has committed to resuming and continuing stalled development projects in Sri Lanka following the inauguration of President Anura Kumara Dissanayake and the formation of a new NPP/JVP government.
This assurance was provided by World Bank Executive Director Parameswaran Iyer during a meeting with the President in Colombo on December 4.
President Dissanayake outlined his administration’s key priorities, focusing on advancing agriculture, fisheries, tourism, education, and healthcare sectors to drive national development and improve livelihoods. He also highlighted the “Clean Sri Lanka” initiative, aimed at environmental sustainability.
Mr. Iyer affirmed the World Bank’s support for ongoing and future projects and proposed the formation of an advisory group to align with the government’s development goals. He also commended the Clean Sri Lanka initiative, reflecting the global lender’s endorsement of the government’s environmental and economic reform plans.
A significant focus of the discussions was on tackling rural poverty and digitalizing the economy, including the introduction of a Digital Identity Card system. Additionally, attention was drawn to longstanding issues in the North and East, such as land and housing challenges faced by the plantation community.
This meeting follows a recent virtual discussion between President Dissanayake and World Bank Group President Ajay Banga. In that conversation, the President emphasized raising government revenue through sectors like tourism and energy, supported by international investment.
Banga reiterated the World Bank’s commitment to fostering job creation and addressing critical developmental challenges.
Sri Lanka has also secured a $200 million budget support loan, which aligns with the government’s broader fiscal reforms aimed at export competitiveness and reducing para tariffs.
This follows the World Bank’s previous $500 million reform-backed loan in parallel with the IMF stabilization program, which began in 2023.
The IMF and World Bank had initially earmarked policy loans worth $3.7 billion for Sri Lanka, to be disbursed between 2023 and 2027, supplementing short-term IMF loans.
The country defaulted on its foreign debt in 2022 after years of macroeconomic mismanagement, including inflation-driven interest rate cuts, leading to repeated currency crises. These crises, occurring in 2012, 2015/16, 2018, and 2020/22, eroded foreign reserves, escalated external debt, and slowed economic growth.
With the new government’s focus on reforms, sustainable development, and fiscal discipline, the World Bank and other multilateral lenders are expected to play a critical role in stabilizing Sri Lanka’s economy and promoting long-term growth.
December 05, Colombo (LNW): With vehicle import restrictions set to be lifted early next year, industry professionals are urging the Government to prioritize new vehicles over used ones, cautioning against the environmental, economic, and technological risks posed by an influx of outdated automobiles.
Concerns particularly surround older commercial vehicles, which experts say present significant challenges.
They noted that a five-year-old vehicle, having likely accumulated over 500,000 kilometers of usage, would be prone to frequent and expensive repairs on essential parts like engines, transmissions, and suspension systems.
While these costs might not be immediately obvious, recurring maintenance and replacement of parts would lead to substantial foreign currency outflows over time.
Experts presented four major arguments against importing older vehicles, emphasizing their environmental impact, economic inefficiency, technological obsolescence, and negative implications for Sri Lanka’s international reputation.
The environmental harm caused by vehicle emissions was a central concern. Experts explained that older vehicles emit significantly higher levels of pollutants compared to newer models, which use more refined fuels and advanced emissions control technologies.
Rapid advancements in automotive technology were another point of emphasis. Newer vehicles provide enhanced safety features, superior fuel efficiency, and better overall performance. Encouraging the importation of cheaper, outdated vehicles, they warned, would limit Sri Lankan consumers’ access to these innovations, leaving the country behind in technological progress.
Additionally, they raised a reputational issue, warning that Sri Lanka could become a dumping ground for obsolete vehicles from wealthier nations, similar to patterns seen in parts of Africa and India, where lax regulations have turned these regions into repositories for vehicles no longer desired in developed countries. “Do we want Sri Lanka to become a junkyard for outdated, inefficient, and environmentally harmful vehicles?” one expert asked.
From an economic standpoint, while used vehicles may seem appealing due to their lower upfront costs, their long-term expenses for maintenance and repairs—often compounded by a lack of warranties—outweigh the initial savings.
In contrast, new vehicles typically come with warranties of at least two years, minimizing unexpected costs during the early ownership period. This difference means that despite the higher purchase price, new vehicles are more cost-effective in the long run.
To address these issues, experts proposed stricter regulations on vehicle imports. They recommended enforcing high standards for emissions and safety, ensuring only vehicles meeting modern benchmarks could enter the market. They also suggested limiting the import of used vehicles to models no older than two years, rather than the current five-year threshold.
Specific recommendations were made for modifying vehicle import regulations, such as:
Reducing the maximum allowable age for trucks and tractors from five years to two years.
Limiting buses for transporting 25–35 passengers to models manufactured within the past two years.
These measures, they argued, would not only protect Sri Lanka’s environment and economy but also enhance consumer safety and elevate the overall quality of the nation’s vehicle fleet.
