June 07, Colombo (LNW): The Excise Department has achieved a significant tax revenue milestone, collecting Rs. 88.7 billion from January 1, 2023, to May 31, 2023. This marks a notable increase compared to the Rs. 69.9 billion earned during the same period last year, reflecting an additional Rs. 19 billion or a 28% increase, according to Excise Commissioner General M. J. Gunasiri.
In 2022, the Excise Department’s total revenue was Rs. 169 billion, which has increased to Rs. 179 billion in 2023, showing a growth of Rs. 9 billion year-on-year. By the end of the first five months of 2023, the department targeted Rs. 91.2 billion in tax revenue, achieving 98% of this goal.
Despite an emergency situation in the first week of the year, which resulted in a temporary suspension of production at several liquor manufacturing companies and a loss of approximately Rs. 2 billion, the department’s revenue remained robust. This resilience is attributed to the department’s effective tax collection strategies rather than increases in tax rates.
In 2023, the government raised the excise duty by 14%, following two 40% increases in the previous year. However, Commissioner General Gunasiri emphasized that the revenue increase was not solely due to higher tax rates but rather to improved efficiency and management, even amidst a declining trend in alcohol production.
In an exciting development, leading marketing technology company zMessenger has announced its sponsorship of the upcoming Privately Organized International World Ladies Golf Tournament set to take place at the prestigious Royal Colombo Golf Club on June 17th.
Womens Golf Day is an international event that brings together women of all ageas and skill levels to celebrate golf and learn the skills that last a life time.
zMessenger, a trailblazing marketing technology firm renowned for pioneering Mobile marketing and Application to Person messaging in Sri Lanka, has always been at the forefront of innovation. The company offers complete, integrated digital business and technology solutions – digital marketing, social listening, customer data platform technology and analytics to deliver tangible results for its clients. zMessenger is behind most of the popular digital marketing solutions serving leading international and local brands, banking and finance institutions, marketing agencies and mobile network operators.
Founder and CEO of zMessenger, Jayomi Lokuliyana, an avid golfer herself expressed her enthusiasm for the company’s sponsorship of the World Ladies Golf Week Tournament, stating, “As a passionate female golfer and advocate for women’s progress and empowerment, I am thrilled to support an event that celebrates the strength, skill, and determination of female athletes. At zMessenger, we believe in fostering a culture of inclusivity and diversity, and this sponsorship is a testament to our commitment to empowering women both on and off the golf course. We are proud to stand behind the talented women participating in this very privately organized and executed tournament and look forward to a day of exciting competition and camaraderie.”
Golf, a sport known for its strategic gameplay and precision, holds parallels with the business landscape that zMessenger navigates. Both golf and business require skill, foresight, and calculated decisions to achieve success. By sponsoring the World Ladies Golf Week Tournament, zMessenger showcases its support for the values of dedication, perseverance, and excellence that are integral to both the game of golf and the company’s operations.
As zMessenger continues to break new ground in the technology sector, its partnership with the World Ladies Golf Week Tournament not only reflects its commitment to fostering women’s participation in sports but also underscores the company’s belief in the power of collaboration, strategy, and teamwork to drive success in all endeavors.
President Ranil Wickremesinghe inaugurated his new political office located on Sir Ernest de Silva Mawatha in Colombo. According to the President’s Media Division (PMD), the office will serve as the centre for future political operations.The establishment of the office was initiated by United National Party (UNP) Chairman and Member of Parliament, Wajira Abeywardena.
Samagi Jana Balawegaya (SJB) MP Nalin Bandara has written to the Independent Television Network (ITN) expressing the party’s disapproval of the state broadcaster over the channel’s recent preparations for a debate between two opposition parties. Detailing the terms under which he extended an invitation to the National People’s Power (NPP) for a public debate, the MP stressed that the invitation was to first conduct a debate between the economic councils of the two parties. MP Bandara said that the ITN had accepted a day named by the NPP without any regard for the planning and discussions between the two parties, which had been suggested by the SJB.
The Supreme Court, which concluded the hearing of the Fundamental Rights (FR) petitions filed against the postponement of the 2023 Local Government elections, has deferred delivering its verdict. The relevant FR petitions filed against the postponement of the 2023 Local Government elections, which was initially scheduled to be held on March 09, 2023, were taken up before a five-member Supreme Court judge bench led by Chief Justice Jayantha Jayasuriya.
The government has decided to provide Rs. 10,000 each for the families affected by floods in order to clean up their houses, State Minister of Defence Premitha Bandara Tennakoon said. The government has primarily allocated an amount of around Rs. 150 million for this purpose, and the relevant funds will be provided to the district secretaries, the State Minister expressed.
Sri Lanka and a group of creditors are in advanced talks over a deal aimed at restructuring the nation’s debt with bilateral lenders, according to people familiar with the matter. The government and members of the official creditor committee, which includes India, Hungary and the Paris Club, are exchanging draft versions of the accord, or memorandum of understanding, the people said, asking not to be identified as the talks are private.
Director of the National Dengue Control Unit Dr. Sudath Samaraweera, emphasized that dengue disease extends beyond mere health implications, presenting significant economic and social challenges. He underscored that the Ministry of Health alone cannot effectively control the spread of dengue and requires full public support. Dr. Sudath Samaraweera, disclosed that within the last five months of this year, over 25,000 dengue cases and nine dengue-related deaths have been reported.
The Ministry of Education launched its inaugural programme to grant vouchers for the purchase of sanitary napkins at the President’s Girls College in Nawala. An investment of Rs. 1 billion has been allocated for this programme, with the view of encouraging school attendance. Accordingly, a voucher of Rs. 1,200 will be given per schoolgirl under the sanitary napkin programme.
Minister of Foreign Affairs of the Maldives, Moosa Zameer has called on Sri Lankan Prime Minister Dinesh Gunawardena at Temple Trees in Colombo. During the meeting, they exchanged views on strengthening existing areas of cooperation, and exploring new avenues, particularly on trade, investment, education and culture.
The Excise Department has earned a tax revenue of Rs. 88.7 billion in the period from January 1, 2023 to May 31, 2023. It is significant that the Excise Department has earned more revenue than the same period in the last year, which stood at Rs. 69.9 billion.
Yupun Abeykoon will be ready to run in the National Athletics Championship to be held in Sri Lanka on the 30th in Sri Lanka. The National Athletics Championship is an Olympic qualification tournament sanctioned by the World Athletics Federation. Before this he will participate in the 100 meters in two tournaments held in Finland on the 18th and 22nd.
June 07, Colombo (LNW): Media, Transport, and Highways Minister Dr. Bandula Gunawardhana has highlighted the significant difficulties faced by residents of Kelani Valley due to adverse weather conditions and subsequent floods. The affected areas include Puwakpitiya in the Avissawella constituency and the surrounding regions of Jaltara in the Kelani Valley, Kaduwela, and Kolonnawa Constituency.
Speaking at the Homagama Development Committee meeting, Minister Gunawardhana emphasized the severe damage to the Kelani Valley railway line, which hindered access to many provinces. Despite these challenges, efforts have been made to maintain train services, with ongoing relief work to clear soil and address landslides.
The Minister announced that the Cabinet has granted necessary authority to the Road Development Authority, the Railway Department, and other public transport agencies to take urgent measures in response to the disaster situation. Special attention was given to relief efforts for those affected by the inclement weather.
Homagama Divisional Secretary B. A. D. Chinthaka reported that approximately 894 families in the Homagama DS division have been affected by the floods, with many homes submerged or isolated. The Divisional Secretariat has been providing essential supplies such as dry rations to those impacted.
June 07, Colombo (LNW): Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana announced that the Labugama and Kalatuwawa reservoirs have been designated as part of Sri Lanka’s national heritage and resources. Highlighting their vital role in providing drinking water to the Colombo area, he emphasized the importance of natural resource management and the region’s potential for tourism.
Minister Gunawardhana made these remarks at the inauguration of the Kaluaggala–Labugama road development project, which aims to enhance connectivity to the reservoirs and surrounding areas. This project addresses long-standing requests from local residents for road improvements and is expected to boost tourism by leveraging the natural beauty and hospitality of the Seethawakapura area.
The Minister highlighted the success of the Ella area as a model for tourism development, attributing its popularity to small tourism businesses and the scenic Colombo–Badulla railway line. He noted that the introduction of special tourist trains, such as the Ella Odyssey, Dunhinda Odyssey, and Calypso, has met with great demand and international media attention. Similarly, efforts are underway to convert the Kelani Valley railway line into an electric railway, with ongoing efforts to secure foreign investment.
Minister Gunawardhana also discussed the allocation of funds for road development, noting that Rs. 200 billion has been designated for such activities this year. Specific attention has been given to the Avissawella and Homagama constituencies, which have lagged in infrastructure development. The World Bank project will see 80 kilometers of roads developed in these areas, with work set to commence in the next two months following preliminary preparations.
He acknowledged the financial burden of these projects, which will be repaid by future generations, and stressed the necessity of adhering to conditions set by international financial organizations to continue receiving foreign aid. A proposed Economic Transformation Bill aims to address Sri Lanka’s debt repayment strategy, ensuring sustainable economic management.
The event was attended by Venerable Pugoda Dhammaloka Nayaka Thera, Sri Lanka Podujana Peramuna Avissawella organizer lawyer Ravindra Jayasinghe, former Seethawaka Pradeshiya Sabha Chairman Jayantha Rohana, former Provincial Council member Mahesh Almeida, officials from the Road Development Authority, and local residents.
June 07, Colombo (LNW): Prime Minister Dinesh Gunawardena held a discussion with Mauritius High Commissioner Haymandoyal Dillum about the expansion of trade and investment relations between the two countries. During the meeting at Temple Trees on Wednesday, June 5, 2024, the Prime Minister urged the exploration of investments in new areas, including power and energy.
The High Commissioner invited Sri Lanka to join the Small Island Developing States (SIDS), assuring support from Mauritius for Sri Lanka’s membership. SIDS comprises 29 island states, including Singapore, Mauritius, and Maldives.
They also discussed close collaboration in multilateral organizations such as the Indian Ocean Rim Association (IORA), where both countries are founder members, and the African Union, where Mauritius is a member and Sri Lanka has Observer Status.
Over the past six years, Sri Lankan exports to Mauritius have grown at an annualized rate of 37.7%, from $768k in 2017 to $7.5 million in 2023. Prime Minister Gunawardena emphasized the need to further diversify trade.
High Commissioner Dillum expressed satisfaction with the rapid recovery of tourism in Sri Lanka and highlighted the potential for collaboration in the hospitality industry. He noted that both countries share common tourist attractions, such as beautiful beaches and holiday resorts, and suggested that Mauritius could provide expertise in this sector. He also praised the contribution of Sri Lankans employed in Mauritius to both economies, and Prime Minister Gunawardena thanked the Mauritius government for providing employment opportunities to Sri Lankans.
Parliamentarian Yadamini Gunawardena, Secretary to the Prime Minister Anura Dissanayake, and other senior officials were present during the meeting.
June 07, Colombo (LNW): The Education Ministry will provide vouchers for schoolgirls to buy sanitary napkins based on the allocation of one billion rupees.
The programme of supplying free vouchers for adult schoolgirls to purchase sanitary napkins will be implemented from this month. The inauguration of the gift voucher programme, funded with an investment of one billion rupees, took place at President’s Girls’ College in Nawala yesterday (6).
Accordingly, the Education Ministry has taken steps to provide free vouchers to purchase sanitary napkins for six months beginning from June. A gift voucher worth Rs. 1,200 each will be given to female students. These vouchers will be distributed through schools, ensuring all adult female students in seven national estate schools and all provincial schools receive them.
Sanitary napkins can be purchased using these gift vouchers from retail shops registered with the Education Ministry. It is the responsibility of the students to purchase quality sanitary napkins certified by the Sri Lanka Standards Institute (SLSI).
The gift voucher is divided into two parts, each worth Rs. 600. Part A is valid from June 10, 2024, to July 10, 2024, and Part B can be used from September 1, 2024, to September 30, 2024. Sanitary napkins must be purchased within these time frames.
This initiative aims to support children’s personality development and healthy well-being, which are crucial for the successful maintenance of the learning-teaching process in schools. It is expected to encourage school attendance among female students and address issues related to health and education disruptions during economic hardships.
June 07, Colombo (LNW): Showers will occur at times in Western, Sabaragamuwa and Southern provinces and in Kandy and Nuwara Eliya districts.
Several spells of showers will occur in North-western, Northern and North-central provinces.
Showers or thundershowers may occur at a few places in Eastern and Uva provinces in the evening or night.
Strong winds of about (40-50) kmph can be expected at times over Northern, North-central, North-western provinces and in the Hambantota district.
General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
June 06, Colombo (LNW): Sri Lanka two state-owned banks are set to achieve tangible progress in shifting towards more commercially-driven business models and capital adequacy strengthening governance, finance ministry announced.
But the state-owned banks will take some time to implement a business-model changing from directed lending and to develop commercial operations.
These banks are still working on their business-model transformation, and remain significantly reliant on corporate lending, despite efforts to diversify.
Asset quality will remain key to intrinsic creditworthiness in the near term. State-owned banks are most vulnerable given their participation in higher-risk subsidised development lending
These local banks are needed Rs. 1.4 trillion capital injection after bad loans increased alarmingly alarming proportions in economic crisis and debt moratoriums as well as debt restructuring hit their balance sheets, it stated.
Bank of Ceylon, HDFC Bank, National Savings Bank, Pradeshiya Sanwardena Bank, Peoples Bank and Regional Development bank are included in the SOE restructuring unit’s list of 31 state owned enterprises (SOEs).
With the IMF technical support and new funding, the central bank and the government will be better placed to grant capital injections if required to stronger banks’
Under IMF guidelines, weaker banks are likely to be merged into the stronger banks while: restructure of struggling state-owned banks is also considered as a possible option.
In order to protect retail investors from potential losses, the Government will not seek to sell shares to retail investors in either of the banks (Bank of Ceylon/People’s Bank) until the bank has been profitable and in full compliance with all Central Bank prudential ratios for not less than two consecutive calendar years following the date of the cabinet decision, finance ministry emphasised.
In any event, the Government would only consider selling a minority stake in selected State banks, whilst the Government retains the majority share ownership, as articulated in the 2024 budget speech (paragraph 70) the finance ministry confirmed. .
The Ministry of Finance will be establishing a specialised unit under the Public Enterprises Department entrusted with responsibility for managing the state’s shareholdings in SOBs and to monitor and report on their performance.
The Auditor General has been directed to appoint qualified external auditors for all SOBs, and will enter into a Memorandum of Understanding to establish this unit as standard practice going forward.
With the consent of the Auditor General, all SOBs shall select new external auditors for the year beginning 1 January 2025 from amongst the auditing firms with substantial international footprint.
President Ranil Wickremesinghe announces Sri Lanka’s aim to achieve net zero carbon emissions by 2040, marking a pioneering step in Asian policy: highlights Sri Lanka’s integration of climate objectives into economic and foreign policy frameworks: unveils plans for a Climate Change Act and a Climate Change Centre to address environmental concerns comprehensively: also proposes legislation for an International University on Climate Change: he urges developed countries to support low-income nations while encouraging tropical countries to mobilise resources for climate change management.
Opposition Leader Sajith Premadasa says a group of Sri Lankan citizens who were sent to Myanmar and Russia with the promise of being granted civil jobs are severely suffering: laments those who were sent to Russia for civil jobs even lost their lives due to being redirected to the Russian-Ukrainian war: urges that the government must intervene immediately.
The new alliance formed by a faction of the SLFP is set to hold its inaugural rally in Hambantota on June 08 at 2 pm: Minister Mahinda Amaraweera is said to be organising this event: MP Nimal Lanza says with the formation of the ‘New Alliance’ they hope to go forward stronger, with other political parties, trade unions, civil organisations being expected to join in the future: The New Alliance is backed by MPs Nimal Siripala De Silva, Mahinda Amaraweera, Lasantha Alagiyawanna, Duminda Dissanayake, Susil Premjayantha, Nalin Fernando, Anura Priyadarshana Yapa, Nimal Lanza, and Priyankara Jayaratne.
The Supreme Court nullifies ex President Sirisena’s pardon to murder convict Don Shamantha Jude Anthony Jayamaha, deeming it arbitrary and unlawful: The decision, following a Fundamental Rights petition by the Women & Media Collective, cited non-compliance with constitutional provisions and violation of the petitioner’s rights: The court directed lawful measures regarding Jayamaha’s sentence implementation, involving legal representation from various parties.
The Finance Ministry announces state-owned banks are undergoing significant reforms to adopt more commercially-driven business models and strengthen capital adequacy and governance: Despite efforts, these banks are still reliant on corporate lending and are facing challenges in transforming their business models away from directed lending: Asset quality remains crucial, particularly due to their involvement in higher-risk subsidised development lending: require a substantial capital injection of Rs. 1.4 trillion to address bad loans accumulated during economic crises and debt restructuring: Under IMF guidelines, weaker banks may be merged into stronger ones, and restructuring struggling state-owned banks is also being considered: The GOSL plans to protect retail investors by not selling shares until banks are profitable for at least two consecutive years: The Finance Ministry will establish a specialised unit to manage the state’s shareholdings in state-owned banks, with external auditors appointed to ensure transparency and accountability.
State Minister Kanaka Herath says the TRCSL granted preliminary approval to Starlink for satellite-based internet in Sri Lanka: Final approval awaits a public consultation process for transparency: PMD to release details soon: The move aims to ensure inclusive decision-making and improve connectivity, especially in remote areas. Starlink’s satellite technology promises high-speed internet nationwide.
Today, Parliament debates the government’s Electricity Bill amid strong opposition: The bill aims to reform the sector but faces criticism for constitutional inconsistencies and rushed implementation: Critics highlight concerns about consumer protection, political interference, and national security: Trade unions threaten to defeat it, alleging no benefits for workers or consumers: Industry experts also raise apprehensions about its impact and lack of expertise in the proposed advisory council: Despite its objectives, the bill’s current form prompts calls for thorough review and amendments.
Geologist Professor Athula Senaratne highlights challenges in forecasting recent adverse weather due to inadequate equipment: laments the absence of necessary instruments hindered timely warnings for heavy rains, stressing the importance of proper equipment for accurate forecasting: points out systemic gaps in rainfall measurement infrastructure, advocating for investment and modernisation to enhance Sri Lanka’s resilience against extreme weather.
Power and Energy Minister Kanchana Wijesekara announces the CEB is set to propose revisions to electricity tariffs, with plans to submit its proposal to the Public Utility Commission (PUCSL) either tomorrow or on Monday: adds these revisions are anticipated to take effect from July 1: The proposed revisions include reductions in tariffs across various consumption categories, such as a reduction from Rs. 8 to Rs. 6 per unit for the 0-30 unit category, and from Rs. 20 to Rs. 9 for the 30-60 unit category: Additionally, reductions are suggested for the 60-90 unit category (from Rs. 30 to Rs. 18) and the 90-120 unit category (from Rs. 50 to Rs. 30): indicates the CEB’s readiness to consider further relief on tariffs if recommended by the PUCSL.
Sri Lanka Athletics announce a crucial National Open Stage II athletics competition, now upgraded to a World Athletics Category ‘E’ event, to serve as a special trial for the Olympics: Key athletes like Yupun Abeykoon, Kalinga Kumarage, Aruna Dharshana, Tharushi Karunaratne, Gayanthika Abeyratne, and Nadeeka Dilhani Lekamge are gearing up for the challenge: Abeykoon’s injury might hinder his participation, affecting his Olympic chances: The Nationals and special trial offer a chance for athletes to improve timings and accumulate points before the June 30 qualification deadline set by the IOC and WA.
