June 18, Colombo (LNW): The Constitutional Council has declined the President’s proposal to extend the term of office of Attorney General Sanjay Rajaratnam, PC.
Reportedly, the President had suggested a six-month extension for the Attorney General.
According to the Lankadeepa, this proposal was rejected during a meeting of the Constitutional Council chaired by Speaker Mahinda Yapa Abeywardena in Parliament today (18).
There had been recent objections to the President’s proposal to extend the Attorney General’s term.
June 18, Colombo (LNW): Sri Lanka is in talks with investors to set up a cannabis growing and export processing zone, Investment Promotion Minister Dilum Amunugama said.
A committee has been appointed to look in to growing cannabis for export, and a report has been completed. Authorities have tapped international experts to help devise a set of rules to govern cannabis growing and processing.
Canabis has multiple uses, including medical applications linked to the active ingredient cannabidiol.
The Government has called for project proposals from local and foreign investors interested in the cultivation and manufacturing of medicinal products from cannabis (Triloka Vijayapathra) for export purposes.
The initiative aims to tap into the global demand for medicinal and allied products derived from cannabis.
The move comes into light after the Cabinet Co-Spokesman and Minister Bandula Gunawardena on 6 February 2024 dismissing claims that a proposal had been presented to the Cabinet of Ministers on cultivating cannabis for export purposes.
The projects will fall under the joint oversight of the Board of Investment of Sri Lanka (BOI) and the Department of Ayurveda (DOA). The BOI will facilitate and implement the projects within a dedicated BOI zone, while the DOA will manage the cultivation, production, regulation and licensing processes.
As per the BOI, the project proposals will be evaluated according to the Ayurveda Act No. 31 of 1961, the Board of Investment of Sri Lanka Law No. 04 of 1978 and other applicable laws.
“Qualified applicants must make a minimum investment of $ 500,000. Upon meeting the required criteria and receiving a recommendation from the BOI, the DOA will issue the necessary licenses for the projects,” the BOI advertisement noted.
An initial license fee of $ 100,000 is required, with an annual renewal fee of $ 200 thereafter.Additionally, qualified applicants must place a security deposit of $ 2 million with the BOI prior to signing the agreement and it will be held for the duration of the license’s validity.
Prospective applicants must also pay a non-refundable application fee of $ 400 to the BOI and a project evaluation fee of $ 1,250 to the DOA. Applications must be submitted to the BOI before 20 June 2024.
Following the denial of Cabinet Co-Spokesman and Minister Gunawardena, on 7 February 2024, former State Minister of Tourism Diana Gamage confirmed that the Cabinet had already approved the export of cannabis in 2023.
President Ranil Wickremesinghe assures the proposed Imputed Rental Income Tax should not cause concern, noting that it would impact only 10% of homeowners and property owners: acknowledges the importance of broadening the tax base and enhancing tax administration efficiency: affirms the government’s commitment to these objectives, signalling openness to discussions on expanding the tax net and improving tax administration practices.
Opposition Leader Sajith Premadasa says President Ranil Wickremesinghe asserted the process of new tax regime aiming the quantitative rise of the state revenue in the shortfall of state revenue and targets: urges the government to implement a transparent taxing system: proposes a more efficient and transparent taxing system by digitising it, thereby paving the way for tax evaders to be tracked and included upon.
Former Senior DIG Ravi Seneviratne says the Easter attack could have been ‘easily avoided’ if accurate intelligence had been shared with the CID: blames the State Intelligence Services and Directorate of Military Intelligence for misleading investigations: also criticises the transfer of key officers after Gotabaya Rajapaksa became president, which he believes hampered the investigation and protected high-profile individuals: Seneviratne recently pledged his political allegiance to NPP openly.
The Ministry of Justice, Prison Affairs, and Constitutional Reforms has spearheaded significant legal reforms since 2022, passing 59 reforms with 7 draft laws and 44 amendments pending: highlights include expanding Supreme Court judges, establishing Commercial High Courts, and enhancing judicial digitisation: aims to boost economic growth through improved legal frameworks and governance.
Speaker Mahinda Yapa Abeywardena discloses the Supreme Court’s verdict on the proposed ‘Sri Lanka Telecommunications (Amendment) Bill,’ asserting that the Supreme Court has found several clauses of the Bill to be unconstitutional: Consequently, these clauses will necessitate a special majority in Parliament for approval: However, the Court indicated that if the contentious clauses are amended, they could pass with a simple majority.
The IMF has highlights the necessity of upcoming tax adjustments in Sri Lanka to bolster national reserves: These reforms, aiming for 15% of GDP by 2025, follow significant strides in tax policy during 2023-2024: IMF’s Peter Breuer notes Sri Lanka’s unique fiscal challenges, contrasting them with global economic strategies: stresses the need for effective debt restructuring and broad creditor participation to ensure sustainability.
Election Commission Chairman Rathnayake cautioned against premature election date announcements by political parties, asserting sole authority under the Constitution: NPP’s Anura Kumara Dissanayake and Tourism Minister Harin Fernando proposed September 28 or October 5 for polling, prompting Rathnayake to clarify Commission’s post-July 17 decision-making period within September 17 to October 17 for elections.
Special transport services are aiding pilgrims visiting Mihintale Temple for Poson Poya: Sri Lanka Railways launches a free train from Anuradhapura supervised by Minister Bandula Gunawardena: Bus services are also available due to rail maintenance, with 400 extra buses between Mahawa and Anuradhapura: The Ministry of Buddhasasana has organised Poson Poya events till June 24.
Police throw water cannons to disperse a protest by unemployed graduates near Diyatha Uyana, Parliament Junction, today (18): Simultaneously, a protest march by university non-academic staff on Lotus Road, Colombo Fort, caused road closure and severe traffic congestion: The University Trade Union Joint Committee (UTUJC) organised the latter demonstration.
Sri Lanka finishes their 2024 T20 World Cup campaign with an emphatic 83-run victory over Netherlands at Daren Sammy National Cricket Stadium, St. Lucia: This win, led by Charith Asalanka’s explosive 46, marked their first victory after defeats and a rain-abandoned match: Asalanka praised the team’s effort in achieving a challenging total.
June 18, Colombo (LNW): Police threw water cannons to disperse a protest organised by unemployed graduates near the Diyatha Uyana at the Parliament Junction this afternoon (18).
Meanwhile, the Lotus Road in Colombo Fort has been blocked due to a protest march organised by university non-academic staff, compelling the authorities to close the road temporarily for vehicular movement.
The event resulted in severe traffic congestion in the area.
The protest march was organised by the University Trade Union Joint Committee (UTUJC).
June 18, Colombo (LNW): Special public transport services have been implemented to facilitate pilgrims visiting Mihintale Temple ahead of Poson Poya, observed on Friday (June 21).
Sri Lanka Railways yesterday (17) inaugurated a complimentary train service from Anuradhapura to Mihintale, launched under the supervision of Minister of Transport Bandula Gunawardena.
This service will remain free of charge for the public during this period.
Due to ongoing maintenance work on the railway track between Mahawa and Anuradhapura, special bus services have been introduced for pilgrims travelling from Colombo to Mihintale.
The Ministry of Transport has deployed an additional 400 buses to operate between Mahawa Railway Station and Anuradhapura to accommodate the increased demand.
The National Poson Week begins tomorrow (June 18) and extends until the following Monday (24).
The Ministry of Buddhasasana, Religious and Cultural Affairs has arranged various activities for Poson Poya celebrations centred around Anuradhapura, Mihintale, and Thanthrimale.
June 18, Colombo (LNW): The Sri Lankan Rupee (LKR) indicates further depreciation against the US Dollar today (18) in comparison to last week, as per leading commercial banks in the country.
At Peoples Bank, the buying price of the US Dollar has increased to Rs. 298.56 from Rs. 298.36, and the selling price to Rs. 308.67 from Rs. 308.47.
At Commercial Bank, the buying price of the US Dollar has increased to Rs. 297.82 from Rs. 297.58, and the selling price to Rs. 308 from Rs. 307.47.
At Sampath Bank, the buying price of the US Dollar has increased to Rs. 299.50 from Rs. 299, and the selling price to Rs. 308.50 from Rs. 308.
June 18, Colombo (LNW): President Ranil Wickremesinghe assured Parliament today that the proposed Imputed Rental Income Tax should not cause concern, noting that it would impact only 10 per cent of homeowners and property owners.
Responding to queries raised by Opposition Leader Sajith Premadasa during today’s session, who voiced objections to the new tax, Wickremesinghe acknowledged the importance of broadening the tax base and enhancing tax administration efficiency.
The President affirmed the government’s commitment to these objectives, signalling openness to discussions on expanding the tax net and improving tax administration practices.
June 18, Colombo (LNW): In the wake of the upcoming tax adjustments that may amplify financial burdens for businesses and individuals in Sri Lanka, the International Monetary Fund (IMF) has underscored their necessity to bolster the country’s reserves.
Acknowledging these developments, the IMF Senior Mission Chief for Sri Lanka, Peter Breuer, highlighted the significant strides made in tax policy reforms throughout 2023 and 2024.
These reforms aim to boost government revenues towards achieving approximately 15 per cent of GDP by 2025.
Breuer described the policy adjustments as a modest recalibration. He contrasted Sri Lanka’s economic approach with that of other nations, noting that while some countries stimulate their economies during downturns, Sri Lanka’s crisis stems from a severe decline in fiscal revenue, leading to unsustainable debt levels and eventual default.
Addressing the press in an online briefing following the IMF’s approval of the second review, Breuer emphasised that from 2019 to 2022, Sri Lanka’s average general government revenues stood at approximately 9.3 per cent of GDP, significantly lower than the average of 26 percent observed in comparable economies.
He underscored the IMF’s stance on debt treatment comparability among Official Creditors, stating that while this is crucial for debt sustainability, the IMF’s primary concern remains whether the restructuring targets are being effectively met by all creditors.
Breuer concluded by affirming the importance of broad creditor participation in debt restructuring efforts to restore Sri Lanka’s debt sustainability, underlining the IMF’s indirect stake in ensuring these targets are achieved.
June 18, Colombo (LNW): The Justice, Prison Affairs and Constitutional Reforms Ministry has achieved substantial advancements in legal reforms, marking a period of prolific legislative activity over the past two years.
Secretary to the Ministry M.N. Ranasinghe highlighted the enactment of 59 legal reforms since 2022, with an additional 7 draft laws and 44 legal amendments pending approval in Parliament.
Speaking at the Presidential Media Centre on Monday (June 17), Ranasinghe underscored the ministry’s pivotal role in drafting laws across various sectors.
In detail, Parliament passed 29 reforms in 2022, followed by 17 in 2023 and 13 so far in 2024.
The Department of Legal Draftsman played a crucial role by preparing 273 draft laws in 2022 and 299 in 2023, encompassing all three official languages for other ministries.
Efforts towards modernising the judicial system were also highlighted, with significant strides made in digitisation to address delays in legal proceedings.
Notably, the number of Supreme Court judges was increased by 14 after 42 years, accompanied by recruitment of 76 judicial officers and promotion of 34 individuals to High Court Judges.
This expansion facilitated the establishment of new courts and increased capacity in existing ones, including the introduction of digitisation in the Supreme Court to enhance accessibility for citizens and legal professionals.
Furthermore, initiatives aimed at improving the Ease of Doing Business Index included the establishment of four Commercial High Courts in the Western Province to handle commercial disputes, with plans for additional courts underway.
The ministry is also advancing legal reforms to support the Port City project, including the creation of an investment court to expedite resolution of investor disputes.
Moreover, the introduction of Small Claims Courts in 2022 for speedy resolution of financial disputes up to Rs. 2 million has proven effective, with courts operational in Colombo, Kandy, and Matale, and plans for expansion to other regions underway.
In response to recommendations from the Judicial Zoning Committee, new courts have been established in various locations, including a tourism court in Morawewa, with further expansions planned.
Additionally, measures to strengthen alternative dispute resolution mechanisms have bolstered Sri Lanka’s dispute settlement rate, which stands at nearly 70%, earning international acclaim.
Legislatively, the introduction of Bills such as the Anti-Corruption Bill and amendments to drug possession penalties reflect ongoing efforts to enhance legal frameworks and governance.
The Ministry remains committed to advancing these reforms to foster a more efficient and accessible justice system, vital for supporting economic growth and investment in Sri Lanka.
June 18, Colombo (LNW): Election Commission Chairman R.L.A.M. Rathnayake warned all political parties not to produce premature announcements on the holding of the elections, asserting that the decision rests solely with his office under constitutional authority.
Recently, NPP Leader Anura Kumara Dissanayake suggested potential polling dates of either September 28 or October 5, urging overseas Sri Lankans to consider travel arrangements for voting.
Additionally, Tourism Minister Harin Fernando indicated October 5 as a likely polling day.
Responding to such claims, Rathnayake clarified that the Commission is empowered by the Constitution to determine the election date, with action slated to commence after July 17.
The polling period is set between September 17 and October 17, inclusive of weekdays and weekends, affording flexibility for the Commission’s decision-making, he noted.
Previously, Rathnayake confirmed that the Commission will adhere strictly to constitutional and statutory provisions when calling for nominations for the presidential election.
Political parties are actively preparing for the election, with alliances anticipated to bolster candidate support.
To date, Anura Kumara Dissanayake and Opposition Leader Sajith Premadasa have declared their candidacy for the upcoming elections.
