December 05, Colombo (LNW): Leader of the House Minister Bimal Rathnayake confirmed that the revised terms of Sri Lanka’s agreement with the International Monetary Fund (IMF) will be featured in the upcoming national Budget.

Rathnayake made these remarks during a parliamentary debate on the government’s policy statement, where he addressed a range of critical economic issues.

He explained that, as part of the government’s ongoing commitment to working within the framework of the IMF over the next three years, necessary revisions have been made to the existing agreement.

“We have always been clear about the need to operate within the framework of the IMF, and yes, we have undertaken revisions to the agreement. These changes have been discussed and finalised with the IMF, and the people of Sri Lanka will learn about these revised terms when the Budget is presented,” Rathnayake said.

The Minister also responded to allegations made by former President Ranil Wickremesinghe, who had claimed that the government had misrepresented its plans to reduce Value Added Tax (VAT).

Rathnayake refuted these claims, reiterating that the VAT reduction was indeed a part of the government’s fiscal strategy. He clarified, however, that any reduction in taxes, including VAT, would need to be enacted through a parliamentary bill, underlining the legal procedures required to implement such changes.

Furthermore, Rathnayake revealed that the first phase of the VAT reduction plan would be introduced in conjunction with the upcoming Budget, which is expected to outline the specifics of the tax adjustments.

This move is part of the government’s broader efforts to ease the financial burden on citizens and stimulate economic growth.

December 05, Colombo (LNW): The government is set to present the Vote on Account today (05) for the first four months of 2025 to Parliament.

This crucial proposal will cover a wide range of financial needs, including the allocation of funds for government expenditure, public debt servicing, and expenses related to debt restructuring.

Prime Minister Dr Harini Amarasuriya will lead the presentation of the Vote on Account, which will be followed by a two-day parliamentary debate, scheduled to continue through tomorrow (06).

This interim vote aims to secure the necessary resources to maintain essential public services and ongoing projects during the first quarter of 2025.

The proposal was given the green light by the Cabinet of Ministers on November 25, after being presented by President Anura Kumara Dissanayake.

As part of this process, Leader of the House, Minister Bimal Rathnayake, confirmed that the revised terms of Sri Lanka’s agreement with the International Monetary Fund (IMF) would be incorporated into the forthcoming budget, providing further details on the nation’s financial strategy.

In addition to the financial discussions, Parliament yesterday (December 4) held an adjournment debate addressing the disaster caused by recent extreme weather conditions.

This debate followed a motion introduced by Member of Parliament Rishad Bathiudeen, who called for a national conversation on the impacts of the severe weather.

Deputy Minister Namal Karunaratne also announced that the government would be implementing a comprehensive relief programme to support communities affected by the adverse weather.

December 05, Colombo (LNW): Several spells of showers will occur in Northern and Eastern provinces and in Anuradhapura district, the Department of Meteorology said in its daily weather forecast today (05).

Showers or thundershowers may occur at a few places in Western, Sabaragamuwa and Southern provinces and in Nuwara-Eliya, Kandy, Kurunegala, Galle and Matara 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.

1. President Anura Kumara Dissanayake met with Illankai Tamil Arasu Kadchi (ITAK) Parliamentarians at the Presidential Secretariat in Colombo: The MPs highlighted the ongoing challenges faced by people in the Northern and Eastern regions: Attendees included Sivagnanam Shritharan, Pathmanathan Sathiyalingam, Shanmugam Kugathasan, Shanakiyan Rasamanickam, and others: The meeting focused on regional concerns.
   
2. A contempt of court application against former MP Hirunika Premachandra was dismissed by the Court of Appeal after she withdrew her alleged contemptuous statement about proceedings in the Mount Lavinia Magistrate’s Court: She also gave an undertaking not to make further statements on the case: The application was filed by Hisham Jamaldeen, who claimed Premachandra had commented on the case.
   
3. Only 23% of candidates from the General Elections have submitted their income and expenditure reports to the Election Commission, with just 1,985 out of 8,361 candidates complying: Only 57 of 527 national list members have submitted theirs: The Commission has set a deadline of December 6, warning that failure to comply will result in legal consequences: Reports must be submitted to respective District Returning Officers.
   
4. Minister of Public Security Ananda Wijepala addressed recent arrests in Parliament, emphasising the government’s commitment to anti-racism values: He clarified that while citizens have the right to commemorate their loved ones, displays of LTTE symbols are unacceptable: He also highlighted a misinterpretation of his statement in Galgamuwa, ongoing investigations into LTTE-related ceremonies, and the involvement of political figures in protests.
   
5. The resolution on the Government Policy statement presented by President Anura Kumara Dissanayake on November 21 was passed unanimously in Parliament on December 4 without a vote: The two-day debate on the policy statement took place on December 3 and 4, from 9:30 am to 5:30 pm and 9:30 am to 5:00 pm, respectively.
   
6. The Colombo Stock Exchange (CSE) reached an all-time high of 13,511.73 points in the All Share Price Index (ASPI), marking a rise of 171.69 points: The S&P SL20 stood at 4,016.60 points: The CSE reported a trading turnover of Rs. 5.2 billion at the close of the session.
   
7. The Public Utilities Commission (PUCSL) announced that revised electricity tariffs will be imposed within 6-8 weeks of receiving the Ceylon Electricity Board’s (CEB) proposal: The CEB will submit its revised proposal tomorrow, incorporating PUCSL’s requests: Initially, the CEB proposed a 6-11% tariff reduction for the last quarter of 2024, but the PUCSL rejected it, requesting a revision for the first half of 2025.
   
8. SJB MP Mujibur Rahman alleged that the CEO of Dialog, Hans Wijesuriya, who had previously refused to provide phone data related to the Thajudeen murder case, was appointed as a Presidential advisor: In response, Chief Government Whip Nalinda Jayatissa clarified that the necessary data had been obtained and investigations into Thajudeen’s death would continue, with court cases to follow: Dr. Wijesuriya is serving voluntarily.
   
9. The Excise Department will suspend the liquor manufacturing license of W.M. Mendis & Co. Limited from December 5 due to their failure to pay Rs. 5.7 billion in excise taxes and surcharges: The company’s manufacturing process will be halted, and if the tax arrears remain unpaid, other licenses will not be renewed from December 31 onwards.
   
10. Sri Lanka Under 19s defeated Bangladesh Under 19s by 7 runs in a thrilling Asia Cup match at Dubai International Cricket Stadium: Sri Lanka, after struggling at 36 for 3, were rescued by Vimath Dinsara’s 106: Bangladesh, chasing 229, were bowled out for 221, with Kalam Allen scoring 95: Sri Lanka’s Vihas Thewmika took 3 wickets and led the fielding with 4 run outs.

December 04, Colombo (LNW): TThe government has approved an allowance to support schoolchildren struggling to purchase stationery and supplies due to the ongoing economic crisis, announced Cabinet Spokesman and Health and Mass Media Minister Dr. Nalinda Jayathissa. A survey conducted by the Department of Census and Statistics highlights that over 55 percent of schoolchildren, particularly in rural and estate areas, have been significantly impacted by the crisis. The survey revealed that 53.2 percent of affected children have reduced or stopped buying school stationery, while 26.1 percent are reusing old supplies.

In response, the Cabinet approved a proposal by President Anura Kumara Dissanayake, in his capacity as the Finance, Planning, and Economic Development Minister, to provide a Rs.6,000 allowance per child before the 2025 academic year begins. Families eligible under the Aswasuma Programme will receive the allowance through the Welfare Benefit Board. Families not covered by the Aswasuma Programme but facing specific challenges, such as those with disabled parents, children in orphanages, and those classified as destitute, will also receive the allowance through the Education, Higher Education, and Vocational Education Ministry. This measure aims to alleviate financial burdens and ensure all children have access to essential educational materials.

December 04, Colombo (LNW): TThe Cabinet of Ministers has approved the establishment of the ‘Clean Sri Lanka’ Fund and a Presidential Task Forceto oversee its implementation, according to Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa.

Speaking at this week’s Cabinet briefing, Dr. Jayatissa outlined that Sri Lanka is currently grappling with challenges across economic, political, social, spiritual, and environmental sectors. The ‘Clean Sri Lanka’ initiative, conceived as a national mission, aims to address these issues while promoting reconciliation, progress, and the overall well-being of the nation.

Aligned with the new government’s vision of “A Prosperous Country, a Beautiful Life,” the programme focuses on fostering social, environmental, and ethical rejuvenation.

The proposal, presented by the President, includes:

• Implementing the initiative through the Presidential Secretariat.
• Establishing a Presidential Task Force to lead the programme.
• Creating the ‘Clean Sri Lanka Fund’ under the Ministry of Finance, Planning, and Economic Development.

The fund will be managed by a Board of Governors to ensure the financial resources are effectively utilized to achieve the programme’s objectives.

December 04, Colombo (LNW):The Bharat Subcontinental Agri Foundation (BSAF) is set to host the South Asia Agri Forum 2025 from January 15-16 at the Shangri-La Hotel in Colombo, Sri Lanka. This significant event will focus on the evolving dynamics of pulses, grains, dry fruits, and spices in South Asia.

The forum will bring together key stakeholders, industry experts, and representatives from prominent organizations, including the National Agricultural Cooperative Marketing Federation of India (NAFED), Wheat Products Promotion Society (WPPS), All India Roller Floor Millers Association, and Uttar Pradesh Floor Millers Association.

As South Asia’s agricultural sector experiences rapid growth driven by rising domestic demand and increasing export potential, the forum offers exporters an opportunity to explore market trends, regulatory updates, and advancements in technology. With a comprehensive agenda featuring expert panels, trade exhibitions, and B2B meetings, the event aims to address challenges and opportunities in the agri-commodity trade.

“Participating in the South Asia Agri Forum not only broadens your market reach but also positions your business at the forefront of the region’s agri-commodity trade. The industry participants can connect with key stakeholders and drive their export growth in one of the most promising markets globally,” said Vivek Agarwal, Managing Director of BSAF.

The 2024 edition of the forum was held in Bangkok, Thailand, and the 2023 edition took place in Kathmandu, Nepal. The Bangkok summit attracted over 1,000 delegates from nearly 50 nations, underscoring the forum’s international significance.