News
Cabinet approves establishment of National Regulatory Reform Council for strengthening regulatory governance in SMEs
The regulatory environment in Sri Lanka plays a decisive role in shaping the growth of the private sector, influencing investment decisions, and improving overall business competitiveness.
Although the fundamental elements of the country’s economy remain strong, it has been observed that the existing regulatory constraints disproportionately affect small and medium-sized enterprises and also adversely impact the attractiveness of Sri Lanka as an investment destination.
Taking those matters into consideration, the Ministry of Industry and Entrepreneurship Development, with the assistance of the Asian Development Bank, has carried out a comprehensive assessment of the regulatory framework in
Sri Lanka, and following extensive discussions held with the relevant stakeholders, the National Regulatory Reform Action Plan and its operational mechanism have been formulated.
The aforementioned Action Plan has presented a number of practical and actionable recommendations, and such recommendations have been prioritized and sequenced across short-term, medium-term, and long-term timeframes. Further, it has been proposed to establish a National Regulatory Reform Council as the central institutional mechanism for the implementation, direction, and supervision of the aforementioned Action Plan.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Industry and Entrepreneurship Development to establish the aforementioned Council under the chairmanship of the President and to designate his Ministry as its Secretariat of that council.
The Indian Naval Ship (INS) Sunayna, under the name of IOS Sagar, which arrived in the island embodying the Indian Navy’s endeavour to build ‘Bridges of Friendship’, departed the island on 18 May 26.
The ship was accorded a formal farewell by the Sri Lanka Navy in accordance with naval traditions, upon her departure.
During the ship’s stay, the Chief of Staff of the Navy attended a programme and interacted with the crew. Additionally, the Commanding Officer of INS Sunayna engaged in formal discussions with the Commander Western Naval Area and the Flag Officer Commanding Naval Fleet as well.
Meanwhile, Sri Lanka Navy personnel had the opportunity to visit the Indian vessel, while a friendly volleyball encounter was played with the crew members which represented personnel
from 17 countries.
Additionally, the ship’s crew took time to explore several culturally significant landmarks across the island.
Marking the culmination of the visit, INS Sunayna participated in a Passage Exercise (PASSEX) with the Sri Lanka Navy, facilitating the exchange of seamless communication, navigation and operational interoperability between the naval forces.
News
M G Lalith Ananda appointed to the post of District Secretary/Government Agent of the Ratnapura Administrative District
The Cabinet of Ministers approved the resolution furnished
by the Minister of Public Administration, Provincial Councils and Local Government to appoint M.G. Lalith Ananda, an officer in the Special Grade of the Sri Lanka Administrative Service, to the post of District Secretary/Government Agent of Ratnapura with immediate effect.
Latest News
Payment of compensation for crop damage caused to Paddy Cultivation in the area due to the construction of a Salinity Barrier across the Nilwala River in Matara
Approval had been granted at the Cabinet meeting held 2025-07-07 to allocate provisions through the Budget and pay compensation for the crop damage caused to paddy cultivation in the Matara District during seven consecutive cultivation seasons (from the 2019 Yala season up to the 2022 Yala season), due to flood conditions caused by the obstruction of the Nilwala River during the period of the construction of the salinity barrier across the river, following a proper assessment of the relevant damages.
Accordingly, compensation amounts have been calculated in accordance with the compensation payment methodologies of the Agricultural and Agrarian Insurance Board, taking into consideration costs and paddy prices, and an allocation of Rs. 1,200 million has been made through the 2026 Budget for the
payment of the relevant compensation.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Agriculture, Livestock, and Land and Irrigation to pay compensation to the farmers who are eligible for compensation as follows.
Season Proposed amount of compensation per one acre (Rupees)
INS Sunayna departs island
M G Lalith Ananda appointed to the post of District Secretary/Government Agent of the Ratnapura Administrative District
Payment of compensation for crop damage caused to Paddy Cultivation in the area due to the construction of a Salinity Barrier across the Nilwala River in Matara
No change in Water Tariffs for the first half of 2026
A ‘National Space Policy’ to be drafted
A comprehensive National Intellectual Property Policy for Sri Lanka to be formulated
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