By Rathindra Kuruwita The Ceylon Electricity Board (CEB) has significantly overestimated the cost of electricity production and transmission for 2024 and this is reflected in their estimated cost of production, says MP Gamini Waleboda, head of the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis. The overestimation is around Rs 140 billion, […]

In a welcome development in relation to Sri Lanka’s regional policy, some state functionaries of the Ranil Wickremesinghe regime have gone on record as having stated that Sri Lanka would be taking notable cognizance of India’s security concerns, going forward. This is as it should be. None of India’s immediate neighbours could afford to overlook […]

Monday 26th February, 2024 Sri Lanka is a nation in the hara-kiri mode. It needs no enemies; it has become its worst enemy. It continues to maintain a bunch of failed, corrupt politicians and their bureaucratic lackeys responsible for ruining the economy and hell-bent on degrading vital national

As Pakistan grapples with the aftermath of controversial elections, political chaos is threatening to cloud its $3bn deal with the International Monetary Fund (IMF), which analysts say is key to the country’s economic stability. On Thursday, the global lender said Pakistan’s interim government had “maintained” economic stability. The IMF’s communications chief, Julie Kozack, said the […]

Profit before Tax increases by 258% amidst external challenges Pan Asia Banking Corporation PLC reflected a steady performance amidst multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance during 2023, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality in chall...

I became the first person to officially transact using UPI in Sri Lanka on February 12th 2024. In the presence of three heads of states/ governments. Leaders of India, Sri Lanka and Mauritius watched the transaction and celebrated its success with applause. So what is UPI ? How does it benefit indian consumers, merchants and […]

Sri Lanka’s inflation is anticipated to gradually stabilise around the targeted level of five per cent over the medium term, following a short-lived acceleration of inflation in the near term on account of the recent tax adjustments and supply-side disruptions, the Central Bank of Sri Lanka (CBSL) said in its monetary policy report for February. […]

The Central Bank of Sri Lanka released the Monetary Policy Report – February 2024 in keeping with the requirements of the Central Bank of Sri Lanka Act, No. 16 of 2023. The content of this Report is mainly based on information that was considered by the Monetary Policy Board of the Central Bank of Sri […]

Sri Lanka s spike in inflation is expected to be short-lived and will return to the targeted 5% in the medium term, a monetary policy report released by the central bank said on Thursday as the island nation s economy stabilises from a crippling financial crisis.

President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

Urges unity over deep political divisions for effective crisis management Says ‘intricate’ foreign debt restructuring will take up to six months Invites Opposition to confer with institutions that foster international financial stability by Sanath Nanayakkare As government revenue increases, measures will be taken to increase benefits for the people accordingly, President Ranil Wickremesinghe said...

Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building  even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]

Secretary to the Treasury and Finance Ministry Mahinda Siriwardana has said that even if Sri Lanka achieves the goal of zero corruption, tax revenue will still have to be increased to bridge the budget deficit and lessen the country’s debt burden. Referring to the Supreme Court ruling pertaining to economic management delivered on Nov 14, […]