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Use of INR in Tourism and Trade aids Sri Lanka’s Economic Recovery and Growth

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The High Commission of India, on 02 March, organized a discussion on the use of the Indian Rupee (INR) for economic transactions between India and Sri Lanka. Representatives from the Bank of Ceylon, State Bank of India, and the Indian Bank, shared their experiences and informed the audience that they had started carrying out INR-denominated trade transactions, through respective Vostro/Nostro accounts, after the creation of enabling framework by the Reserve Bank of India (RBI) and the Central Bank of Sri Lanka (CBSL) in 2022.

The participating banks also outlined the benefits of settlements denominated in INR, which includes shorter timelines, lower exchange costs, and easier availability of trade credits, etc. The beneficial impact of this initiative, on the tourism and hospitality industry, was also highlighted, including its role in helping increase collections which could be utilized by other sectors.

A team from RBI joined the discussion in the online format and indicated the possibility of settlement of current account transactions in goods, as well as services, in INR, apart from the option of undertaking permitted capital account transactions. The RBI team referred to the close cooperation with CBSL and RBI’s commitment to further facilitate this process.

State Minister of Finance, Shehan Semasinghe appreciated the close economic relationship between the two countries and the financial and humanitarian support extended by India over the past year, including the strong financing assurances provided by India, in context of the IMF support programme for Sri Lanka. Governor of the CBSL, Dr. P. Nandalal Weerasinghe, mentioned the strong desire among Indian and Sri Lankan business communities for enabling trade settlements in INR. He called for expanding this facility, over a period of time, to utilize it for the full range of capital and current account transactions. Governor of the CBSL also appreciated the wide-ranging participation from stakeholders in Sri Lanka and India which included more than 300 attendees in the physical format, apart from those that joined online.

High Commissioner of India to Sri Lanka, Gopal Baglay, highlighted the positive impact that the initiative will have in the joint efforts for building a stronger and closer economic partnership between the two countries, through trade and investment led measures. He also mentioned the ongoing cooperation between India and Sri Lanka in the area of digital payments and the potential it possesses for enhancing the economic relationship between the two countries.

Participants from Sri Lanka included officials from the CBSL, Government of Sri Lanka, representatives from business and industry, including the tourism sector, media personnel, bank representatives, economists and journalists. Participants from India that connected in the online format, included representatives from RBI, Government of India, trade and industry associations and export promotion councils.



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Teacher recruitment examinations will be conducted in accordance with the relevant court decisions – PM

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Prime Minister Dr. Harini Amarasuriya stated that the forthcoming two teacher recruitment examinations will be conducted in accordance with the relevant court decisions pertaining to the ongoing legal proceedings and further noted that, taking into consideration the requests received, steps have been taken to make a request to Court’s approval to revise the conditions of the effective date of degree completion.

The Prime Minister made these remarks while addressing a meeting held at Monaragala Royal College to brief education authorities of the Monaragala District on the new education reforms.

Under the new education reforms, Smart Boards will be provided to 132 schools in the Monaragala District as part of the program to equip secondary schools with modern technology. As a symbolic step under this initiative, Smart Boards were presented to 10 secondary schools under the Prime Minister’s patronage. This program is being implemented with the intervention of the Digital Task Force operating under the Prime Minister’s Office. It was also emphasized that a new digital policy, formulated with special attention to child protection, will be introduced in April.

As part of her visit to the Monaragala District on the 13 th of February, the Prime Minister observed the implementation of the new learning methodologies introduced for Grade One under the new education reforms. She visited Kumbukkana Sri Shanmugam Tamil Maha Vidyalaya and Maduruketiya Maha Vidyalaya in Monaragala to observe the educational activities of Grade One students.

Considering the increase of student numbers and the development of infrastructure facilities, the Prime Minister also approved a proposal submitted by the School Development Society to rename Maduruketiya Maha Vidyalaya as Monaragala Dharmaraja Maha Vidyalaya.

Teachers briefed the Prime Minister that the new education system, supported by revised workbooks and activity-based learning methods, has proven to be effective, with students participating enthusiastically.

Addressing education officials further at the meeting held at Monaragala Royal College, the Prime Minister stated:

“Although this will not provide a complete solution to the existing teacher vacancies, these examinations can offer considerable relief. According to the Court’s previous determination, the effective date of degree completion had been set as 30.06.2025. However, considering numerous requests and following the cabinet approval we have sought Court’s consent to revise this date. We will act in accordance with the decision granted.

Funds allocated for school infrastructure must be utilized transparently and in line with proper planning, and progress must be reported accordingly. We cannot move forward by dividing ourselves along national, provincial, rural, or urban lines. As education authorities, you must make swift and accurate decisions based on correct data.

Further, discussions are already underway within the Piriven Committee of the Ministry of Education to develop Piriven education and to address the issues faced by Piriven teachers.”

The event was attended by the members of the Maha Sangha, Uva Province Governor Attorney-at-Law Kapila Jayasekara, Deputy Minister of Trade and Commerce R.M. Jayawardhana, Member of Parliament Ajith Agalakada, Uva Provincial Education Secretary Nihal Gunarathne, and several officials from the education sector.

[Prime Minister’s Media Division]

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Low-pressure area is likely to form over the southeastern Bay of Bengal around 15th February

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Special Weather Bulletin issued by the Natural Hazards Early Warning Centre of the Department of Meteorology
Issued at 10.30 a.m. on 13 February 2026

A low-pressure area is likely to form over the southeastern Bay of Bengal around 15th February.

The general public are requested to be attentive to the future forecasts and bulletins issued by the Department of Meteorology in this regard

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Sajith points to irregularities in coal procurement deals

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Sajith

Opposition and Samagi Jana Balawegaya (SJB) Leader Sajith Premadasa has claimed that all five coal shipments, imported recently for the Lakvijaya Coal Power Plant, in Norochcholai, were of substandard quality.

The remarks were made on Thursday during a meeting of the Sectoral Oversight Committee on Infrastructure and Strategic Development at the Parliament complex, which summoned senior officials from the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL), and the Lanka Coal Company to discuss the controversial coal imports.

Premadasa raised concerns over the tender process, highlighting a lack of transparency and deviations from the original procurement plan for the country’s key 900-megawatt power plant. He noted that although the order for 2,500 tonnes of coal was issued in April, deliveries were delayed due to the May monsoon season.

The Opposition Leader criticised the shortened tender timeline, which was reduced from the standard 42 days to just 21, and demanded that reports approving the tender, technical instructions, and conditions for both previous and current coal tenders be submitted to Parliament.

Premadasa also questioned the qualifications and experience of the suppliers selected by the government, asking whether responsibility for the nation’s primary electricity production had been entrusted to an unsuitable company.

He also emphasised the coal specifications, stating that the net NCP value should be 5,900 and requested reports if the supplied coal failed to meet that standard. Premadasa asked whether coal had been added to boilers before test results were received, whether samples had been sent to India for testing, and requested the corresponding reports.

In addition, he sought clarity on potential financial losses exceeding one million rupees, reductions in the annual coal requirement due to extra coal burning, and any boiler damage caused by substandard coal.

The Opposition Leader called for a full investigation into the tender process, including a forensic audit, noting that prior questioning through the Sectoral Oversight Committee had already highlighted deficiencies in procurement procedures.

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