April 30, Colombo (LNW): The Sri Lankan Rupee (LKR) exhibits further depreciation against the US Dollar today (30) in comparison to yesterday, as per leading commercial banks in the country.
At Peoples Bank, the buying price of the US Dollar has increased to Rs. 292.57 from Rs. 290.91, and the selling price to Rs. 302.48 from Rs. 300.75.
At Commercial Bank, the buying price of the US Dollar has increased to Rs. 291.74 from Rs. 290.50, and the selling price to Rs. 301 from Rs. 299.75.
At Sampath Bank, the buying price of the US Dollar has increased to Rs. 293.50 from Rs. 291.50, and the selling price to Rs. 302.50 from Rs. 300.50.
April 30, Colombo (LNW): The Central Bank of Sri Lanka (CBSL) has underscored that while Sri Lankans exhibit satisfactory levels of financial knowledge compared to global standards, there exists a notable gap in financial behaviour within the island nation.
Highlighting the findings of the Financial Literacy Survey, the CBSL emphasised the imperative for enhancing financial behaviour, asserting that this necessitates careful consideration by policymakers.
Financial behaviour encompasses an individual’s approach to managing finances, making financial decisions, and navigating financial challenges.
In its recently published Annual Economic Review 2023, the CBSL pointed out that translating financial knowledge into tangible financial behaviour poses a multifaceted challenge.
Factors contributing to this gap include financial attitudes, behavioural biases, limited practical experience, socio-economic barriers, and emotional influences, it added.
Poor financial behaviour exacerbates individual vulnerability to economic shocks, the CBSL went on, adding that it fosters macro-economic instability through diminished savings and heightened debt, widens inequality, and strains public resources due to heightened reliance on government assistance programmes.
Despite a lack of gender gap in financial inclusion, the CBSL noted a modest disparity in financial literacy levels between genders in Sri Lanka.
To address the issue, the CBSL advocated for the adoption of gender-sensitive approaches to bridge this gap effectively.
Consequently, the CBSL highlighted the importance of introducing targeted behavioural interventions to facilitate the translation of financial literacy into positive financial behaviour among Sri Lankans, positioning it as a policy priority.
In response to these imperatives, the CBSL, in collaboration with over 40 stakeholders including financial sector regulators, ministries, academia, and public and private sector institutions, spearheaded the development of Sri Lanka’s inaugural Financial Literacy Roadmap.
The roadmap encompasses a comprehensive five-year action plan spanning from 2024 to 2028, with the primary objective of enhancing the financial behaviour of Sri Lankans.
It currently comprises 48 actions designed to achieve 10 objectives across four strategic priorities outlined in the roadmap.
These actions primarily focus on strengthening coordination mechanisms, standardising financial literacy materials, nurturing financial capability among school children in collaboration with education partners, and optimising existing resources for effective delivery of financial literacy interventions.
However, the CBSL acknowledged that while significant progress has been made in policy commitment and roadmap development, challenges persist, necessitating alignment with national policies, adaptation to evolving financial landscapes and global trends, fostering inclusivity in financial literacy interventions, nurturing partnerships, and establishing robust monitoring and evaluation frameworks.
Addressing these critical factors, the CBSL stressed that it is essential to maximise the impact and sustainability of financial literacy interventions, ultimately contributing to the development of a financially literate and empowered populace.
April 30, Colombo (LNW): Peoples’ Action for Free and Fair Elections (PAFFREL) has underscored the importance of political parties releasing their election manifestos well in advance of any electoral contest, whether it be a Presidential or Parliamentary poll.
This proactive approach would be is crucial for nurturing a more responsible and informed political culture within the country, PAFFREL emphasised.
Expressing concern over the prevailing practice in which political parties in Sri Lanka often unveil their policy statements merely a month or so before an election, PAFFREL’s Executive Director, Rohana Hettiarachchi, emphasised that there is a need for a more transparent and timely dissemination of these manifestos.
The current approach deprives the public of the opportunity to engage in substantive discussions on the proposed policies and initiatives, he noted.
Addressing a programme in Colombo aimed at promoting a responsible political culture by urging political parties to issue timely and accountable policy statements, PAFFREL convened representatives from political parties, civil society organisations, government officials, and media personnel.
During the gathering, various challenges hindering the prompt and credible publication of election manifestos were identified and discussed.
Election manifestos should ideally be released at least six months before the scheduled election date, the PAFFREL Chief underscored, lamenting, however, that the current practice often sees manifestos being publicised only after the nomination process has concluded, depriving voters of adequate time for scrutiny and deliberation.
The event saw the presence of MPs such as Dallas Alahapperuma, Prof. Charitha Herath, Prof. Tissa Vitharana, and several other key stakeholders.
April 30, Colombo (LNW): The Bribery Commission reported the apprehension of four individuals in Kollupitiya for impersonating officers from the Criminal Investigation Department (CID) and extorting a sum of Rs. 10 million in cash.
The arrests occurred around 3:30 p.m. yesterday (29) in the Kollupitiya locality following a complaint lodged by a Dehiwala resident.
The suspects are to be produced before the Colombo Chief Magistrates Court today (30).
April 30, Colombo (LNW): In the wake of the prevalence of beggars at traffic lights in Colombo city, the annual SMMT International Automotive Summit 2025 will not be hosted, Secretary of the Sri Lanka Automobile Association Devapriya Hettiarachchi disclosed.
Speaking to media, Hettiarachchi noted that Sri Lanka had previously hosted the Asia Pacific Region II meeting affiliated with the SMMT International Automotive Summit conference in Colombo in 2015, with 150 delegates in attendance.
Subsequently, a bid was submitted in Rwanda to host the SMMT International Automotive Summit conference in 2025.
“During the meeting in Rwanda, delegates observed beggars soliciting at traffic lights within Colombo city limits, resulting in unpleasant experiences and significant traffic disruptions as they traversed various locations in Colombo,” Hettiarachchi remarked.
Securing the bid would have brought numerous delegates from various countries to Sri Lanka, thereby generating substantial foreign income for the nation.
However, feedback received during the annual General meeting in Rwanda indicated that hosting the conference in Sri Lanka was untenable due to the beggar menace at traffic lights in Colombo.
Concerns were also raised that providing aid to beggars within the city limits would adversely impact the country’s reputation.
Consequently, attendees urged Sri Lanka to address this issue in Colombo if it intends to host the prestigious automotive industry gathering in 2025.
In response, plans were formulated in April 2023, and a strategic committee was established to address the situation.
Ultimately, measures were implemented to mitigate the issue, with the public urged not to provide assistance to beggars at traffic lights within Colombo city limits.
April 30, Colombo (LNW): A recent gazette notification has outlined specific methods for income tax payments, limiting them to three options: cash deposits, pay orders or bank drafts, and the use of the Online Tax Payment Platform (OTPP).
Notably, the inclusion of cheque payments as a valid method for income tax payments has been omitted from the updated guidelines provided in the gazette notification.
It is noteworthy that that these payment methods, as detailed in the April 4 gazette, pertain specifically to taxes regulated under the Inland Revenue Act No. 24 of 2017.
This encompasses Corporate Income Tax, Personal Income Tax, Withholding Tax, Advance Personal Income Tax, and Capital Gain Tax.
However, it is essential to recognise that other taxes, such as Value Added Tax, Social Security Contribution Levy, Stamp Duty, among others, are not affected by these changes and can continue to be settled using cheque payments.
April 30, Colombo (LNW): The deployment of drone cameras during this year’s May Day (May 01) rallies without prior permission is strictly prohibited, emphasised Police Spokesman Deputy Inspector General (DIG) Nihal Thalduwa,
Thalduwa issued this statement regarding the usage of drone cameras at May Day rally sites, as multiple political parties plan to hold separate May Day rallies across the country.
This directive aims to ensure the safety and security of May Day events and participants while also preventing any potential disruptions or unauthorised surveillance activities.
The use of drone cameras without proper authorisation could pose risks to public safety and infringe upon individual privacy rights.
By enforcing this regulation, law enforcement authorities seek to maintain order and uphold the integrity of May Day rallies, which serve as platforms for peaceful assembly and expression of various socio-political views.
Meanwhile, Thalduwa further announced that six thousand police officers will be ‘strategically’ deployed during the holding of May Day rallies in the Colombo city.
An additional contingent of four thousand officers will be placed in other regions for security measures, he added.
The Police Spokesman further emphasised the possibility of deployment of military support, if required.
April 30, Colombo (LNW): MP Rishad Bathiudeen, leader of the All Ceylon Makkal Congress (ACMC), convened a constructive discussion with the Indian High Commissioner to Sri Lanka, Santosh Jah, in Colombo last Thursday.
During the meeting, MP Bathiudeen expressed heartfelt appreciation to the Indian High Commissioner for the invaluable support extended to Sri Lanka during its recent economic challenges.
He particularly commended India’s significant contribution of 50,000 houses for individuals affected by the conflict in the Northern and Eastern regions.
Additionally, MP Bathiudeen emphasised the pressing need to address the plight of fishermen impacted by coastal erosion in Eastern provinces, specifically in areas like Oluvil, Nindhavur, Karaithivu, Maaligaikaadu, Pandiyiruppu, Maruthamunai, and Kalmunai.
He sought the Indian High Commissioner’s assistance during his forthcoming visit to the Eastern Province to secure funding from the Indian Government to support affected fishermen and safeguard their livelihoods.
The ACMC Leader underscored the significance of creating sustainable livelihood opportunities for the war-affected population in the North, stressing the importance of collaborative efforts with India towards this objective.
The discussion also encompassed plans to rejuvenate the ferry service connecting Thalaimannar and Rameshwaram, aimed at strengthening bilateral ties and fostering mutual cooperation between Sri Lanka and India.
Several other critical issues related to the development of Northern and Eastern regions were deliberated upon, with a focus on leveraging Indian assistance for regional progress.
Bathiudeen reaffirmed his dedication to advancing the enduring and mutually beneficial relationship between Sri Lanka and India, aiming to promote greater cooperation for the prosperity and welfare of both nations.
Former State Minister and Chairman of ACMC, M.S.S. Ameer Ali, also participated in the meeting, engaging in discussions on various developments concerning the Batticaloa District.
April 30, Colombo (LNW): President Ranil Wickremesinghe has reiterated the government’s commitment to enhancing the role of agriculture in Sri Lanka’s economic development.
Speaking at the “Dilmah Cinnamon” launch event in Colombo on April 28th, he underscored the importance of agricultural modernisation initiatives, particularly focusing on popularising cinnamon cultivation, a historically significant export crop for the country.
The event marked the entry of the renowned “Dilmah” brand into the Sri Lankan cinnamon industry, expanding its domestic exports to introduce high-quality cinnamon products to the global market.
President Wickremesinghe, alongside distinguished guests including Master Chef Thomas Gugler, symbolically unveiled the Dilmah Cinnamon products.
Highlighting the historical significance of cinnamon in Sri Lanka’s past, the President emphasised its pivotal role in shaping the country’s economic landscape.
He recounted historical narratives demonstrating cinnamon’s influence on ancient kingdoms and trade dynamics, expressing gratitude to Dilmah for reviving the legacy of “Ceylon Cinnamon” akin to its success with “Ceylon Tea.”
Wickremesinghe emphasised the government’s commitment to leveraging agriculture for economic transformation, recognising agriculture as a cornerstone of Sri Lanka’s heritage and economy from ancient times until independence in 1948.
He underscored the need for a beneficiary-centric approach, emphasising collaboration between the government and the private sector in modernising the agricultural sector.
Acknowledging Dilmah’s initiative in resurrecting the “Ceylon Cinnamon” brand, President Wickremesinghe assured the government’s support for furthering the sector’s growth and development.
He extended well wishes to Dilmah and reiterated readiness to provide necessary assistance for their endeavours.
The event was attended by prominent figures including Prof. Maithree Wickramasinghe, Minister of Health and Industries Dr. Ramesh Pathirana, and high commissioners and ambassadors. Chairman of the Dilmah Group Mr. Dilhan Fernando and distinguished guests graced the occasion, marking a significant milestone in Sri Lanka’s cinnamon industry.
April 30, Colombo (LNW): Showers or thundershowers will occur at several places in Western, Sabaragamuwa, Central, Southern, North-western and Uva provinces after 1.00 p.m., with showers or thundershowers being expected to occur at a few places elsewhere in the evening or night, the Department of Meteorology said in its daily weather forecast today (30).
Fairly heavy showers above 50 mm are likely at some places in Western, Sabaragamuwa and Uva provinces, the statement added.
Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces during the morning.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas around the island during the evening or night.
Winds:
Winds will be south-easterly or variable in the sea areas around the island. Wind speed will be (15-25) kmph.
State of Sea:
The sea areas around the island will be slight. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
Meanwhile, heat index, the temperature felt on human body is expected to increase up to ‘Caution level’ at some places in Northern, North-central and North-Western provinces and in Gampaha, Colombo, Trincomalee and Batticaloa districts, the Natural Hazards Early Warning Centre of the Dept said.
The public, therefore, is urged to stay hydrated and take breaks in the shade as often as possible, check up on the elderly and the sick, never leave children unattended, limit strenuous outdoor activities, find shade and stay hydrated, and wear lightweight and white or light-coloured clothing.
