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BOC says impact of its downgrading negligible

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By Sanath Nanayakkare

The Bank of Ceylon (BOC) is set to end the year on a positive note despite the economic downturn due to the Covid-19 pandemic and the recent downgrade of the sovereign and banking institutions in Sri Lanka, BoC informed the media yesterday.

“The bank is winding up the year on a healthy note despite the stresses, posting the highest asset base of Rs. 2.9 trillion, highest deposit base of Rs. 2.3 trillion while maintaining its market leadership in Trade Finance, Treasury Operations including its more than 40% market share of Inward Remittances (US$2.5 billion). In addition to those, the Bank has maintained its market leadership in most of the spheres in the banking and finance arena”, BoC said.

“All our customers can confidently rely on the strength and stability of the BOC for all their banking needs”, it assured.

In stark contrast to several adverse news reports posted on social media over the past two days, BOC said,” The recent downgrade of the sovereign and banking institutions in Sri Lanka has had a minimal impact on the soundness of the Bank. Our international operations continue uninterrupted. Being a bank that has maintained its international presence for over eight decades, its foreign correspondent relationships have never been questioned, and the Bank has been growing from strength to strength. The Bank has earned many local and foreign accolades for its banking experience along its way and looks to Year 2021 on a positive note”.



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Advisory for Heavy Rain issued for the Central, Uva, Sabaragamuwa, Eastern and North-central provinces and in Galle and Matara districts

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Advisory for Heavy Rain Issued by the Natural Hazards Early Warning Centre  at 08.30 a.m. on 22 February 2026 valid for the period until 08.30 a.m. 23 February 2026

Due to the influence of the low level atmospheric disturbance in the vicinity of Sri Lanka, Heavy showers above 100 mm are likely at some places in Central, Uva, Sabaragamuwa, Eastern and North-central provinces and in Galle and Matara districts.

Therefore, general public is advised to take adequate precautions to minimize damages caused by heavy rain, strong winds and lightning during thundershowers

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Matara Festival for the Arts’ inaugurated by the Prime Minister

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The inaugural ceremony of the Matara Festival for the Arts, featuring a wide range of creations by local and international artists, was held on February 19 at the Old High Court premises of the  Matara Fort, under the patronage of Prime Minister Dr. Harini Amarasuriya.

The festival, centred around the Old High Court premises in Matara and the auditorium of the Matara District Secretariat, will be open to the public from 20 to 23 of February. The festival will be featured by visual art exhibitions, short film screenings, Kala Pola, and a series of workshops conducted by experts.

The inaugural event was attended by the Minister of Women and Child Affairs, Ms. Saroja Paulraj, along with artists, guests, and a large number of schoolchildren.

(Prime Minister’s Media Division)

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Only single MP refuses salary as Parliament details pays and allowances

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SJB Badulla District MP Nayana Wasalathilake is the only MP to forego salary and allowances, with all payments suspended following his written notification on August 20, 2025.

Only one Member of Parliament has chosen not to receive the salaries and allowances entitled to MPs, Prime Minister Dr. Harini Amarasuriya revealed in Parliament last Thursday, shedding light on the financial perks enjoyed by members of the Tenth Parliament.

Speaking on Thursday (Feb. 19) in response to a question from SJB Badulla District MP Chaminda Wijesiri, the Prime Minister outlined the full range of pay and allowances provided to parliamentarians.

According to Dr. Amarasuriya, MPs receive a monthly allowance of Rs. 54,285, an entertainment allowance of Rs. 1,000, and a driver’s allowance of Rs. 3,500—though MPs provided with a driver through the Ministry of Public Security and Parliamentary Affairs are not eligible for the driver’s allowance.

Additional benefits include a telephone allowance of Rs. 50,000, a transport allowance of Rs. 15,000, and an office allowance of Rs. 100,000. MPs are also paid a daily sitting allowance of Rs. 2,500 for attending parliamentary sessions, with an additional Rs. 2,500 per day for participation in parliamentary sittings and Rs. 2,500 per day as a committee allowance.

Committee meetings held on non-parliament sitting days also attract Rs. 2,500 per day.

Fuel allowances are provided based on the distance between an MP’s electoral district and Parliament. National List MPs are entitled to a monthly allocation equivalent to 419.76 litres of diesel at the market price on the first day of each month.

Despite the comprehensive benefits, only SJB Badulla District MP Nayana Wasalathilaka has opted not to draw a salary or allowances. Dr. Amarasuriya said that in accordance with a written notification submitted by MP Wasalathilaka on August 20, 2025, payments have been suspended since that date.

The Prime Minister also confirmed that she, along with the Speaker, Deputy Speaker, committee chairs, ministers, deputy ministers, the Opposition Leader, and senior opposition whips, have all informed the Secretary-General of Parliament in writing that they will not claim the fuel allowance.

Challenging the ruling party’s voluntary pledge to forgo salaries, MP Wijesiri pointed out that all MPs except Wasalathilaka continue to receive their salaries and allowances. “On one hand you speak about the people’s mandate, which is good. But the mandate also included people who said they would voluntarily serve in this Parliament without salaries. Today we have been able to prove, Hon. Speaker, that except for one SJB MP, the other 224 Members are drawing parliamentary salaries,” he said.

The Prime Minister responded by defending the political culture and practice of allocating portions of MPs’ salaries to party funds. Referring to previous practices by the JVP and NPP, she said: “It is no secret to the country that the JVP has for a long time not personally taken MPs’ salaries or any allowances. I think the entire country knows that these go to a party fund. That is not new, nor is it something special to mention. The NPP operates in the same way. That too is not new; it is the culture of our political movement.”

When MP Wijesiri posed a supplementary question asking whether diverting salaries to party funds was an indirect method of taking care of MPs, Dr. Amarasuriya said: “There is no issue there. No question was raised; the Member made a statement. What we have seen throughout this week is an inability to understand our political culture and practice, and a clash with decisions taken by political movements that misused public funds. What is coming out is a certain mindset. That is why there is such an effort to find fault with the 159. None of these facts are new to people. He did not ask a question, so I have nothing to answer.”

The disclosures come days after the Government moved to abolish the parliamentary pension, a measure that has sparked renewed debate over MP compensation and the transparency of funds allocation.

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