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Budget to focus on green economy, renewable energy, IT and digital governance
By Ifham Nizam
The government would give priority to establishing a green economy, renewable energy, information technology and digital governance through the upcoming Budget, President’s Secretary Dr. P.B. Jayasundera said yesterday.
Answering questions through Webnex, organised by the President’s Media Centre, Dr. Jayasundera expressed concern about electricity unit cost here, stressing that Sri Lanka’s power tariffs were only second to Singapore in the region, which he said was a stumbling block to foreign investment here.
Speaking under the theme titled `Upcoming Budget – Dozens of Plans and the Economic Colour of the Country’ he said that the government would focus on investments without going for loans.
Dr. Jayasundera said diesel plants would be systemically sidelined and also they would focus on introducing electric vehicles.
He strongly believes that Sri Lanka needs to increase the volume of production of goods and services that can earn revenue.
He also said that there was a growing concern for the development of infrastructure and especially infrastructure for the rural agrarian economy.
Plans were in the pipeline to build and strengthen infrastructure to attract local businesses, new investors and tourists, he said.
Finance Ministry Secretary S.R. Attygalle stressed that despite worldwide economic disaster due to Covid pandemic, the Lankan public sector was paid their full salaries, and added that there wouldn’t be any future salary cuts either.
Responding to queries, he said that there was a proposal from the Energy Ministry to amend the Ceylon Petroleum Corporation Act. However, he said that investment involved India.
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Free 14 day visa extension for visitors unable to depart Sri Lanka
The Department of Immigration and Emmigration has decided effective from 28th February 2026, to grant a free fourteen (14) day visa extension to all tourists who are unable to leave Sri Lanka due to flight cancellations. 
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Maldives Coast Guard Ship Huravee arrives in Colombo
The Maldives Coast Guard Ship Huravee arrived at the Port of Colombo for replenishment purposes on 02 Mar 26. The visiting ship was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.
The ship is a 48.9m long Offshore Patrol Vessel which is commanded by Lieutenant Colonel Ahmed Nafiu Mohamed.
Meanwhile, the ship’s crew is scheduled to visit several tourist attractions in the city of Colombo, during their stay in the island.
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AKD warns of far reaching economic consequences of Middle East war
President Anura Kumara Dissanayake yesterday called for an immediate and peaceful resolution of the escalating Middle East conflict, warning that the crisis could have far-reaching repercussions on the global economy, including Sri Lanka.
Addressing Parliament, the President stressed that no military conflict benefited humanity, particularly at a time when destructive military technologies were rapidly advancing.
“Any military conflict does not create a favourable situation for any group of people,” he said, urging all parties to make urgent commitments towards peace. “As Sri Lanka, our position is that all parties involved in this war must, as soon as possible, take steps toward a peaceful world.”
He cautioned that Sri Lanka could not remain insulated from the fallout from the conflict, noting that disruptions to global oil and gas supplies, threats to migrant workers in the Middle East, and potential shocks to tourism, remittances, shipping and aviation were real concerns.
A national programme was being formulated to mitigate the impact, he said, adding that its success would hinge on broader international efforts to restore stability, the President said.
Acknowledging public anxiety shaped by past economic hardships, President Dissanayake said social stability could not be ensured through rhetoric alone but required tangible guarantees that citizens would not face another crisis.
While noting that the government had successfully navigated multiple challenges since assuming office, he described the Middle East situation as distinct due to the uncertainty surrounding its duration and outcome.
The government, he said, was closely monitoring developments. The Central Bank had conducted a review with a report on the likely economic impact expected shortly. The Ministry of Finance is also preparing an assessment of the potential effects on public life, alongside measures to ensure the uninterrupted provision of essential services locally and for Sri Lankans overseas.
“The primary responsibility for finding a path out of the crisis rests with the Government,” he said, calling on Parliament and the public to collectively confront the challenge under a unified national plan.
Providing a detailed account of the country’s energy reserves, the President said storage capacity rather than supply remained the key constraint. Excluding the Indian Oil Corporation tanks in Trincomalee, total storage capacity at Kolonnawa and Muthurajawela stands at approximately 150,000 metric tons.
Diesel stocks were currently sufficient for 33 days, with refining contributing around 1,800 metric tons daily. Petrol reserves will last 27 days, with a 35,000 metric ton shipment due on March 7 or 8 expected to extend availability to around 40 days.
Aviation fuel stocks are adequate for 49 days, supported by both daily refining and imports. Scheduled shipments include vessels from RM Parks on March 14, Sinopec on March 17, IOC on March 21 and the Ceylon Petroleum Corporation on March 28.
Crude oil supplies were sufficient to operate the refinery for 26 days, with an additional shipment expected to extend operations by a further 18 days, the President said.
“Because of this, there is no crisis regarding oil,” the President assured Parliament.
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