News
Australia-Sri Lanka Parliamentary Friendship Group reactivated
Australian Immigration, Citizenship, Migrant Services and Multicultural Affairs Minister Andrew Giles has explained the government policy with regard to expatriate communities, especially newcomers, to integrate into Australian society. In that context, the Australia-Sri Lanka Parliamentary Friendship Group could act as a catalyst to link the two countries, Minister Giles said, declaring his support to such initiatives, in his capacity as Minister for Multicultural Affairs.
Minister Giles said so at the recent reactivation of the Australia-Sri Lanka Parliamentary Friendship Group, in Canberra, at the Sri Lanka High Commission. The group that had been in existence earlier was dormant for about four years. The Sri Lanka High Commission said that it was reactivated with a Member of the Federal Parliament, Sri Lanka-born Cassandra Fernando of the Labour Party, as its Chair, and Senator James McGrath of the Liberal Party, as Vice Chair.
Sri Lankan High Commissioner Chitranganee Wagiswara told the gathering that the High Commission is keen to work closely with the Federal Members of Parliament in order to strengthen ties between Sri Lanka and Australia, including with the Sri Lanka-Australia Parliamentary Friendship Group, already set up in the Sri Lanka Parliament, and explore areas of cooperation for the benefit of the two countries.
The High Commissioner added that she is happy and proud to have two ladies, with Sri Lankan connections, for the first time in the Australia Federal Parliament – Cassandra Fernando and Dr. Michelle Ananda-Rajah of Sri Lankan decent.
In her address, Cassandra Fernando referred to her close affinity to Sri Lanka and her desire to see close cooperation between her country of birth and Australia. She spoke of the need to create a greater understanding between the two countries and to promote bilateral relations. Vice Chair, Senator McGrath of the Liberal Party, in his remarks, added that his party would also support any initiatives taken by the Friendship Group.
As per the provisions of section 51 of the Public Finance Managaement Act No. 44 of 2024, the public should be issued with a report on the final budgetary situation for each year and, the report is then published in the official website of the Ministry of Finance, Planning and Economic Development.
Thereby the report has to be submitted to the Parliament. The final budgetary situation report (Annual Report) – 2025 has been prepared by the Ministry of Finance, Planning and Economic Development and published. The report contains the Public Finance Policy, strategies and challenges, economic trends in 2025, macro – economic and socio – economic indicators covering all sectors of the economy as well as description on the global economic growth.
Furthermore, it accompanies a detailed description government revenue and expenditure, cash flow management, financing the budget deficit and the loan structure.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the Report on the Final Budgetary Condition (Annual Report) – 2025 to Parliament.
Business
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Approval of the Cabinet of Ministers was granted at their meeting held on 16.03.2026 to obtain United States Dollars 380 million from the policy – based loan facilities of the Asian Development Bank in the year 2026.
United States Dollars 100 million out of it is allocated for Trade, Investment and Industries Development Programme – Sub Programme 1. However, amidst the economic uncertainty resulting from the current Middle East crisis and the climatic tragedies, the Asian Development Bank has agreed to assist
by increasing a supplementary financing package of United States Dollars 100 million so that it will beMincreased up to United States Dollars 200 million.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to take further measures to obtain the said loan grant.
News
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Approval of the Cabinet of Ministers was given at the meeting held on 23.02.2026 to impose the custom import duty amounts under four (04) categories as 0%, 10%, 20%, and 30% which had been executed only under three (03) categories in order to increase the target export income of the country, to execute the
recommendations of the national customs duty policies committee, and to implement new national sub division customs codes for promoting the local agricultural and industrial sector.
Imposing provisions in relation to the above, the Revenue Protection Order – No. 01/2026 under the Revenue Protection Act No. 19 of 1962 has been published in the extraordinary gazette notification No. 2478/03 of 03.03.2026.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the said revenue protection order to Parliament for its concurrence.
Report on the Final Budgetary Condition (Annual Report) – 2025 submited to parliament
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Resettlement of unauthorized settlers affected by the Land Acquisition process for the implementation of Phase III of the Baseline Road Extension Project
Cabinet approves project to modernize school hostel facilities during the 2026–2028 period at an estimated cost of Rs. 1,008 million
New National Action Plan for Human-Elephant Conflict Management to be drafted
‘Dates have the highest sugar content to fight Coronavirus’
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