News
Premature speculations could undermine market confidence – Semasinghe
By Rathindra Kuruwita
State Minister of Finance Shehan Semasinghe has cautioned against premature speculation regarding domestic debt optimisation, which, he says, has not been finalized.Speaking to journalists, on Sunday, Semasinghe stressed the government’s commitment to ensuring the stability of the banking and financial sector. He urged responsible and diligent discussions on the matter, as premature speculations could potentially undermine market confidence.
“The process of domestic debt optimisation is not finalised yet. The government is fully committed to ensure the stability of the banking and financial sector. Recognising the sensitivity, premature speculations without a conclusion could potentially undermine market confidence,” Semasinghe said.
Semasinghe highlighted the progress made in engaging with bilateral creditors for debt restructuring efforts. He expressed optimism that these engagements would lead to favourable agreements that contribute to overall stability.
Central Bank Governor Nandalal Weerasinghe also reassured the public about the safeguarding of public bank deposits and the stability of the banking system in any reorganization of domestic debt. Addressing a public forum, Weerasinghe emphasized that financial sector stability is a key objective of the central bank, and measures will be taken to ensure the protection of public deposits and the overall stability of the banking system.
Latest News
Festival advance for government officers to be increased
In terms of the provisions of the Establishments Code on payment of festival advance to government officers, there’s a possibility of obtaining rupees 10,000/- as an advance for celebrating festivals of Theipongal, Ramazan, Sinhala and Hindu New Year, Wesak, Deepavali, and Christmas as well as for pilgrimages (Sri Paada pilgrimage and Hajj pilgrimage).
Provisions have been given to recover the said advance in 08 installments or if required earlier without interest. It has been proposed by the Budget 2026 to increase the said festival advance up to rupees 15,000/-.
Accordingly, the Cabinet of Ministers granted approval to the proposal submitted by the Minister of Public Administration, Provincial Councils and Local governments to revise the relevant provisions so that the festival advance can be increased up to rupees 15,000/- .
News
Providing underutilized lands/properties to suitable investors for optimal utilization.
As per the approval given by the cabinet meeting held on 02-06-2025, action is being taken at present to offer the underutilized lands/properties of the Sri Lanka State Plantation Corporation, the Janatha Etate Development Board, and the Elkaduwa Plantation Company which are under the Ministry of Plantation and Community Infrastructure which have been identified under stage one to suitable investors.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Plantations and Community Infrastructure to provide following lands/properties on a lease basis to the suitable investors for optimal utilization following the prescribed procurement procedure.
• underutilized lands/properties identified under stage two owned by the Sri Lanka State Plantation Corporation, the Janatha Estate Development Board, and the Elkaduwa Plantation
Company,
• The Mawarala watte land and the Tea factory 40.48 hectares in extent, located in Matara District belonging to the Tea Shakthi Fund.
• The underutilized land of 1,541 hectares in extent of Kondachchi Estate is enjoyed by the Sri Lanka Cashew Corporation.
Latest News
Implementation of the National Fisheries and Aquaculture Policy
The drafting of the National Fisheries and Aquaculture Policy has commenced with the objective of equitable distribution of the benefits of the fisheries industry and the sustainable management of fisheries and aquaculture. This policy has been updated from time to time according to current requirements. However, steps have not been taken to obtain the approval of the Cabinet of Ministers for that purpose.
According to the policy declaration of the present government, ‘Vistas of Prosperity and Splendor’ the National Fisheries and Aquaculture Policy has been redrafted, updating the aforementioned policy in line with the economic and development objectives of the government.
The recommendations of the Department of National Planning have been received for the drafted policy.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Fisheries, Aquaculture, and Marine
Resources to implement the National Fisheries and Aquaculture Policy, integrating it with other relevant policies.
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