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CB Governor sees light at the end of the tunnel

The Central Bank would do everything possible to ensure that all stakeholders in the economy benefited, its Governor Dr. Nandalal Weerasinghe said, yesterday, addressing an event held by the ILO and Employers’ Federation in Colombo. He said that the Central Bank’s main objectives were managing inflation and maintaining a healthy balance of payments.
“Among the biggest issues we face are the heightened inflation and the shortage of hard currency. We had to take painful decisions to control inflation,” he said.
Dr. Weerasinghe said that the inflation had risen to 70 percent last year but had come down to 30 percent.
“By the last quarter of this year, inflation will drop to a single digit. The decisions we took are correct but painful. High interest rates are tough on businesses. However, we need to take such decisions to ensure that there is no hyperinflation. We are reaching stability and this is needed to ensure that there is recovery,” he said.
News
Presidential secretariat launches initiative to install sanitation facilities at fuel stations under “Clean Sri Lanka”

In a landmark move to promote public hygiene and accessibility, the Government on Wednesday (14) launched a national-level initiative to install modern sanitation facilities at fuel stations across the country under the “Clean Sri Lanka” programme.
The official launch was held at the Presidential Secretariat, with the participation of top government officials and key industry stakeholders.
The initiative aims to transform fuel stations into clean, safe and inclusive spaces by providing essential sanitation infrastructure accessible to all segments of the public, particularly women, children, the elderly and people with disabilities.
An MoU was signed between the Presidential Task Force on Clean Sri Lanka, the Ministry of Energy and the island’s four major fuel providers: Ceylon Petroleum Corporation (CPC), Lanka IOC PLC (LIOC), Sinopec Energy Lanka (Pvt) Ltd and RM Parks (Pvt) Ltd.
Under the three-year programme, 540 modern public sanitation facilities will be established at selected fuel stations islandwide. The timeline for rollout is as follows:
Company | 2025 | 2026 | 2027 |
---|---|---|---|
CPC | 25 | 50 | 50 |
LIOC | 25 | 50 | 40 |
Sinopec | 25 | 50 | 75 |
RM Parks | 25 | 50 | 75 |
Total | 100 | 200 | 240 |
By the end of 2025, at least 100 of these facilities are expected to be operational, providing clean and user-friendly amenities to travellers across the country.
Speaking at the event, Secretary to the President Dr Nandika Sanath Kumanayake stated, “This is not just a policy commitment but a promise to build a healthier, cleaner and more dignified Sri Lanka. The Clean Sri Lanka initiative seeks to deliver long-term public services that meet modern hygiene standards.” He also highlighted that this partnership between the public and private sectors sets an example for delivering effective and sustainable services. Plans are in place to encourage further participation from large-scale private sector entities, such as retail chains, to extend the reach and impact of the programme.
The event was attended by Secretary to the Ministry of Energy, Prof. Udayanga Hemapala; Senior Additional Secretary to the President, Russell Aponsu; senior executives from the four fuel providers; and officials from the Clean Sri Lanka Presidential Task Force.
News
Financial assistance from the President’s Fund for next of kin of victims of the Kotmale bus accident disbursed through Divisional Secretariats

On the instructions of President Anura Kumara Disanayake, the funds allocated from the President’s Fund for those who lost their lives in the recent bus accident in the Garandiella area, Kotmale have now been forwarded to the relevant Divisional Secretariats.
Accordingly, a sum of Rs. 1 million will be provided to the next of kin of each individual whose life was lost in the accident, and the funds will be handed over to their respective family members.
These funds have been released to the Divisional Secretariats of the following areas—Tissamaharama, Lunugamvehera, Welimada, Haldummulla, Ella, Kundasale, Bamunakotuwa, Paduwasnuwara West, Polpithigama, Wanathawilluwa, Chilaw, Buttala, Thanamalwila, Wellawaya, Kanthale and Rambewa where the 22 individuals who lost their lives in the accident were residents.
News
USD 6.9 mn loss due to fertiliser imports: Mahindananda seeks anticipatory bail

Shasheendra, too, is to be questioned soon
Former Agriculture Minister Mahindananda Aluthgamage has filed an anticipatory bail application in the Fort Magistrate’s court in a bid to prevent the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) from taking him into custody in connection with the ongoing investigation into the importation of a stock of allegedly substandard organic fertiliser from China during Gotabaya Rajapaksa’s presidency.
Colombo Chief Magistrate Thanuja Lakmali has asked the CIABOCt to present its position regarding the issue at hand to the court on May 19.
The CIABOC has asserted that the transaction caused Sri Lanka a loss of USD 6.9 mn.
The CIABOC arrested former Additional Secretary (Development) to the State Ministry of Agriculture, Mahesh Gammanpila on April 28, 2025, over his role in the deal with China’s Qingdao Seawin Biotech in 2021.
At the time Mahesh Gammanpila served as the Secretary to the State Ministry of Agriculture, Shasheendra Rajapaksa had been its Minister. Gammanpila is the current Chief Secretary of the Uva Provincial Council.
Aluthgamage had been the Cabinet Minister at the time the government finalised the questionable deal with the Chinese company.
CIABOC, on May 5, told court that the investigations were continuing and the ministers who decided on the importation of fertiliser from China, too, would be arrested and produced in court.
According to the CIABOC website, Mahesh Gammanpila has caused approximately USD 6.9 million loss to the government by issuing orders to open the suspended Letters of Credit to import the substandard organic fertiliser consignment from Qingdao Seawin Biotech, China, in 2021.
Although Fort Magistrate granted bail to Gammanpila on May 5, he continued to be in remand as he couldn’t meet the bail conditions. The court has also imposed a travel ban on him. (SF)
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