News
Central Bank urges Govt. to increase fuel prices and electricity tariffs
The Central Bank of Sri Lanka, on Friday (04), in its latest Monetary policy Review, advised the government to consider increasing fuel prices and electricity tariffs immediately to reflect the cost to overcome the present economic challenges
The Central Bank also urged the government to introduce measures to discourage non-essential and non-urgent imports based on the previous recommendation made by the Central Bank; incestivise foreign remittances and investments further, implement energy conservation measures, while accelerating the move towards renewable energy; increase government revenue through suitable tax increases on a sustained basis; mobilise foreign financing and non-debt forex inflows on an urgent basis; monetise non-strategic and underutilised assets and postpone non-essential and non-urgent capital projects.
The Central Bank said that the above measures would lay the foundations for a coordinated approach to overcome the challenging economic circumstances faced by the country and to prudently exit the COVID-related policy accommodations taken by the government in the last two years.
The Central Bank added that it would continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and would stand ready to take further measures as appropriate. The aim of the Bank is to stabilise inflation, the external sector and the financial sector.
The Central Bank added that the recovery in the global economic activity is expected to weaken due to the spread of the Omicron COVID-19 variant, supply chain disruptions and geopolitical tensions in Eastern Europe. The bank added that Global inflation is expected to remain high and persistent due to elevated energy prices and continuing supply chain disruptions, prompting stronger monetary policy responses by central banks globally.
Latest News
Let us all build a society valued with peace and harmony, guided by unity and solidarity beyond all differences – PM
Prime Minister Dr Harini Amarasuriya issuing a message on the occasion of the Hajj festival called upon all Sri Lankans to build a society valued with peace and harmony, guided by unity and solidarity beyond all differences
The Prime Minister’s message:
“On the occasion of “Eid-ul-Adha” or the Hajji Festival, celebrated with great reverence by Muslims across the world upholding the values of selflessness, unity, and compassion, I extend my felicitations to the Muslim community in Sri Lanka and around the world.
On this special Day, the festival of Hajji commemorates the boundless devotion to God and the noble spirit of generosity demonstrated by Prophet Ibrahim. This festival reflects the willingness of humanity to dedicate even its most precious possessions for the greater good of humankind and the devotion towards the God.
On this day, the most important lesson we must all understand is the value of rising above our differences and standing together in unity and solidarity. The message of Eid-ul-Adha, founded upon sharing and compassion, serves as a great example in our journey towards building a strong, peaceful, and prosperous Sri Lanka.
Therefore, setting aside narrow divisions, we must all resolve to act with respect and kindness towards one another and work together to create a society valued with peace and solidarity.
May this Hajji Festival bring happiness, peace, prosperity, and blessings to you all”.
News
Rajitha calls for combined lists, denounces those unwilling to join as traitors
Ranil-led group asks govt. to hold PC polls
Former Cabinet Minister Dr. Rajitha Senaratne yesterday (27) claimed that there was no consensus between the JVP and the NPP regarding the long delayed Provincial Council (PC) polls.
Dr. Senaratne said that though JVP General Secretary Tilvin Silva had declared in Jaffna, over the last weekend, that it wouldn’t be possible to conduct PC polls this year, due to financial constraints and legal impediments, the position of NPP General Secretary Dr. Nihal Abeysinghe was different.
Addressing the media at Hotel Nippon, on behalf of the People’s United Opposition grouping, operating out of Ranil Wickremesinghe’s Flower Road Office, Dr. Senaratne, who represents the UNP, claimed that the JVP/NPP was all out to postpone the long delayed PC polls. The New Democratic Front (NDF) parliamentary group, elected to the current Parliament, received the backing of Wickremesinghe.
The ex-Minister explained how the NPP, with a 159-member parliamentary group, could comfortably secure the approval of the Parliament to conduct the PC polls under Proportional Representation system.
Declaring that they would submit combined candidate lists at the PC polls, Dr. Senaratne declared that those who declined to join them would be considered traitors.
Dr. Senaratne emphasised that there was no need for alliances and their objectives could be achieved through fielding combined candidate lists.
The Illankai Thamil Arasu Kadchi (ITAK) was represented by former lawmaker and acting Secretaray General of ITAK but the Sri Lanka Podujana Peramuna (SLPP) and the main Opposition Samagi Jana Balawegaya (SJB) weren’t represented.
Convenor of the People’s United Opposition Prof. G. L Peiris, at the beginning of the briefing, explained how the people were deprived of their democratic rights by the NPP, through the postponement of PC polls.
On Tuesday (26) MPs Shanakiyan Rasamanikkam, Mano Ganesan, and Nizam Kariapper attended a joint Opposition discussion with SJB and others, organised by PAFFREL. MP Rasamanikkam has criticised the delay in holding PC elections.
The Batticaloa District MP highlighted that he had already presented a private member’s bill to facilitate the conduct of elections, under the earlier system.
Rasamanikkam said:”The four Opposition members representing the Parliamentary Select Committee affirmed their stance to hold the Provincial Council elections under the preferential voting system.
“We noted, however, that the establishment of this committee appears to be a measure to further delay the process.
“Concurrently, an Additional Solicitor General of the Attorney General’s Department presented two proposals for conducting the elections.
“One of these recommendations involves introducing minor amendments concerning women and youth representation to the private member’s motion I tabled in Parliament, which seeks to hold the Provincial Council elections under the previous system.”
Meanwhile, PAFFREL said that altogether 42 political parties and civil society organisations were involved in that discussion.
PAFFREL said that of the 42 political parties and monitoring organisations that participated in the discussion, all but one political party consented to endorse the following joint statement. And it was decided to forward the joint statement to the Parliamentary Select Committee and the government.
“We, the secretaries of political parties and representatives of the other organisations, who attended the meeting organised by PAFFREL at the Hector Kobbekaduwa Agricultural Training and Research Institute, on 26 May, 2026, agreed to the proposal adopted to hold the Provincial Council elections as per the electoral system prevailed prior to the enactment of Act No. 17 of 2017, pending the final outcome of the Parliamentary Select Committee. We also agreed to ensure 25% representation of women and youth on a voluntary basis.”
News
20 lawmakers, four officials visiting China
A Parliamentary delegation, comprising 20 Members of Parliament, and four officials, of the Parliament of Sri Lanka, led by Dr. Kaushalya Ariyarathna, Deputy Minister of Mass Media, is in China to participate in a workshop for Members of Parliament of Sri Lanka being held in Beijing and Guangdong.
The programme has been organised by the International Cooperation Centre of the National Development and Reform Commission (NDRC) of China, from 26th May to 5th June, 2026.
The delegation arrived in Beijing, on 25 May, and commenced official engagements on 26th May, with the Opening Ceremony of the Workshop held at the Fenghui Centre in Beijing, Parliament said.
-
Business6 days agoHistoric launch of CCWE Fashion Week & International Summit 2026
-
News4 days agoAll-New GRAVITE launches at LKR 6.99 Mn
-
Features4 days agoThe NPP’s pivot to the past
-
News3 days agoPolice probe underway to ascertain links between criminals deported from UAE and local politicians
-
News2 days agoEaster Sunday carnage: Court told Maulana’s statement cannot be accepted without cross-examination
-
Opinion6 days agoThe need to reform Buddhist ecclesiastical order
-
Features4 days agoEnd of Peacekeeping
-
Opinion2 days agoUndermining the democratic political framework
