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CB says a big drop in inflation this month

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Headline inflation for March 2024, measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, has dropped sharply to 0.9 percent in March 2024 from 5.9 percent in February 2024, the Central Bank of Sri Lanka (CBSL) says.

This deceleration in the headline inflation was broadly in line with the projections of the CBSL, it said in a media statement.Non-Food Category recorded a deflation of 0.5 percent in March 2024 compared to the inflation of 7.0 percent observed in February 2024.

Nevertheless, food inflation accelerated to 3.8 percent in March 2024 from 3.5 percent in February 2024, the CBSL said.

Meanwhile, core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, accelerated to 3.1 percent in March 2024 from 2.8 percent in February 2024.

In spite of intermittent variations, inflation is expected to converge to the targeted level in the period ahead and remain around the target over the medium term, supported by appropriate policy measures, the CBSL said.



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Law will be enforced against all those who acquire assets illegally- State Minister Chathuranga Abeysinghe

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State Minister of Industries and Entrepreneurship, Chathuranga Abeysinghe, while addressing  a public gathering held at the Raffles Hotel in Kotte on  Tuesday [April 22] said that the law will be enforced against all those who acquire assets illegally.

He said that , if someone joins a municipal council receiving a modest salary and, within two to three years, builds a luxury house and acquires a vehicle, we will question how such wealth was amassed. If a satisfactory explanation cannot be provided, the law will be enforced and the measures will be taken to confiscate any illegally acquired assets.

The opposition frequently levels accusations against us, but we have not engaged in any wrongdoing. We have not misappropriated public funds, used undue influence to secure school admissions for our children, or interfered with law enforcement. We are dedicated to serving the people by upholding an ethical and responsible political culture.

If you wish to develop your community, I respectfully urge you to elect individuals of integrity who will not misuse public funds.

[Prime Minister’s Media Division]

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Unrest at Matara prison brought under control

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The Matara prison this. morning. (Pics by Pankaja Sankalpa)

It has been reported that prison officials and the police have brought the unrest among the 500 plus inmates of the Matara prison which commenced on Tuesday [22] under control by this morning  (23)

It has been reported that  the inmates had broken out of their wards after which the officials were compelled to fire in the air and use tear gas to bring the situation under control.

The inmates are being temporarily transferred to the Angunkolapelessa prison in groups to enable authorities to repair the the damage caused to the wards and cells within the premises.

The prison officials who were injured during the conflict are receiving treatment at the Matara hospital.

 

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Local government authorities and Municipal Councils are the nursery of corrupt politics. – Prime Minister

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The Prime Minister stated that the President has challenged all ministers to transparently and efficiently spend the funds allocated to each ministry through the national budget for the benefit of the people, and that the local governments and municipal councils have historically been the nursery grounds of corrupt politics.

The Prime Minister made these remarks while addressing a public gathering held at the Raffles Hotel in Kotte on Tuesday [April 22].

The Prime Minister further stated:

“All 159 of us in Parliament today did not enter through family or financial influence. We are ordinary citizens just like you and individuals who stand among you. Unlike in the past, our members do not behave disruptively in Parliament. When school children visit, there is no need for the Speaker to request their removal that our parliamentary members conduct themselves with dignity, adherence to the law, and political maturity.

This is the kind of Parliament we have always aspired to have. Today, it is you who has made this transformation possible. For a long time, we have not experienced the advantages of an efficient and properly functioning local government. You now have the opportunity to elect representatives who are truly committed to serving you and improving your local institutions.

The event was attended by Arosh Athapaththu, Sri Jayawardenapura Kotte Municipal Council candidate representing the National People’s Power, along with several other candidates and a large number of local residents.

[Prime Minister’s Media Division]

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