News
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.
Latest News
President meets senior officials of the Urban Development Authority
A discussion between President Anura Kumara Dissanayake and senior officials of the Urban Development Authority (UDA) was held this afternoon (18) at the Presidential Secretariat.
The meeting focused extensively on new development projects planned by the Urban Development Authority. The President emphasised the need to ensure that the budgetary allocations made for these projects in the current year are utilised effectively within the same financial year.
Detailed discussions were also held on projects planned to be implemented jointly by multiple institutions, including the importance of holding consultations with all relevant agencies to reach final decisions and the need to clearly define responsibilities for each institution in both implementation and maintenance phases of the projects.
Attention was drawn to key initiatives such as the Kelani River flood control project, water management projects in Colombo city and the Beira Lake restoration project. The need for a dedicated programme for low-income housing in areas such as Ratmalana and Moratuwa was also highlighted. During the discussion, Minister of Transport, Highways and Urban Development Bimal Rathnayake underscored the importance of introducing a structured management framework for the effective coordination of certain projects.
Deputy Minister of Urban Development, Eranga Gunasekara, Secretary to the Ministry of Transport, Highways and Urban Development, Senior Professor Kapila C.K. Perera, Chairman of the Urban Development Authority (UDA), M.G. Hemachandra and the Heads representing the Urban Settlement Development Authority (USDA), Sri Lanka Land Development Corporation (SLLDC), National Physical Planning Department (NPPD) and the Condominium Management Authority (CMA) were also present at the meeting.
(PMD)
News
CEAT Kelani Branch Inter-Company Employees’ Union makes donation to the ‘Rebuilding Sri Lanka’ Fund
The Inter-Company Employees’ Union of the Kelaniya Branch of CEAT Sri Lanka has made a financial donation of Rs. 1,148,000.00, a day’s salary of its members to the ‘Rebuilding Sri Lanka’ Fund established to support the restoration of livelihoods and the rebuilding of areas affected by cyclone Ditwah.
Secretary of the Inter-Company Employees’ Union of the CEAT Kelani Branch, D.G.S.D. Navaratne, handed over the donation to the Chief of Staff to the President, Prabhath Chandrakeerthi at the Presidential Secretariat this morning (18).
Treasurer of the Inter-Company Employees’ Union of the CEAT Kelani Branch, Y.P.I.C. Karunathilaka, together with members of the Executive Committee, were also present on the occasion.
(PMD)
Latest News
Prime Minister off to the United Kingdom to participate in the 22nd Annual Commonwealth Education Forum
Prime Minister Dr. Harini Amarasuriya departed on an official visit to the United Kingdom to participate in the 22nd Annual Commonwealth Education Forum and the Commonwealth of Learning (COL) 2026 Board of Governors Meeting.
During the visit, the Prime Minister is scheduled to participate in several high-level academic and diplomatic engagements aimed at strengthening cooperation in the fields of education, development studies, research collaboration, and international partnerships.
As part of the visit, the Prime Minister will meet with Ms.Bridget Phillipson, Secretary of State for Education of the United Kingdom, at the UK Department for Education, to discuss areas of cooperation in education and related sectors. She is also expected to meet Ms.Yvette Cooper, Foreign Secretary of the United Kingdom, for discussions on matters of bilateral interest and cooperation between Sri Lanka and the United Kingdom.
In addition, the Prime Minister is expected to meet Ms.Shirley Ayorkor Botchwey, Secretary-General of the Commonwealth, on the sidelines of the 22nd Annual Commonwealth Education Forum and the Commonwealth of Learning (COL) 2026 Board of Governors Meeting.
During the visit, the Prime Minister will attend a public event at the Institute of Development Studies at the University of Sussex and she will also take part in the ceremony marking the 60th Anniversary of the Institute of Development Studies. The Prime Minister is also scheduled to address a session at the Oxford School of Global and Area Studies at the University of Oxford, followed by a question-and-answer session with scholars and students.
The visit is expected to strengthen Sri Lanka’s engagement with academic institutions, international development partners, and Commonwealth member states, particularly in the areas of education, research, policy dialogue, and capacity building.
[Prime Minister’s Media Division]
-
News6 days agoEx-SriLankan CEO’s death: Controversy surrounds execution of bail bond
-
Features2 days agoSri Lankan Airlines Airbus Scandal and the Death of Kapila Chandrasena and my Brother Rajeewa
-
Features7 days agoHigh Stakes in Pursuing corruption cases
-
Features7 days agoWhen University systems fail:Supreme Court’s landmark intervention in sexual harassment case
-
News3 days agoLanka’s eligibility to draw next IMF tranche of USD 700 mn hinges on ‘restoration of cost-recovery pricing for electricity and fuel’
-
Midweek Review6 days agoA victory that can never be forgotten
-
News2 days agoKapila Chandrasena case: GN phone records under court scrutiny
-
Features4 days agoMysterious Death of United Nations Secretary General Hammarskjöld
