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Committee on Ways and Means reveals traders’ profits range from Rs. 100 to Rs. 1000 per kilo from imported essential food items

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Chairman of the Committee on Ways and Means MP Patali Champika Ranawaka speaking at the committee meeting held last week at the parliamentary complex. Buddhika Abeysinghe, Secretary of the Committee looks on.

A last week probe by the Committee on Ways and Means of Parliament on factors regarding the profit margins amassed by traders on imported essential food items found that there are glaring disparities between market prices and import costs while traders raking in profits ranging from Rs. 100 to Rs. 1,000 per kilo.

The committee chaired by MP Patali Champika Ranawaka has stated that consumers have been compelled to borne the brunt of inflated prices while traders have reaped substantial profits from the sale of these essential food items.

Officials from key institutions including the Central Bank of Sri Lanka, Department of Trade and Investment Policies, Sri Lanka Customs, Import and Export Control Department, Department of Census and Statistics, and the Hector Kobbekaduwa Agra-rian Research and Training Institute were questioned at this meeting, a parliament sources said.

Ranawaka instructed Sri Lanka Customs officials to furnish weekly reports pertaining to the importation of essential food items. It was disclosed that since 2018, there has been a consistent decline in tax revenues generated from imported goods, attributed to a mismatch in the Special Commodity Levy in accordance with the fluctuating value of the US dollar.

Ranawaka pointed out the necessity for formal registration of importers under category 2,525 to facilitate the collection of value-added tax (VAT) and streamline the import process under category 7,000.

Measures to recoup taxes on undue profits earned by importers from 2018 to 2023 were also mandated, with progress reports expected by month-end.

The Committee also tackled the issue of tax arrears, issuing directives to the Inland Revenue Department for swift action, including asset acquisition and legal recourse to recover Rs. 188 billion in unpaid taxes.

Additionally, measures were outlined to combat tax evasion, including the establishment of a digital platform for individuals earning over Rs. 100,000 per month.

In addition, the meeting addressed concerns regarding irregularities in granting licenses for importing electric vehicles to Sri Lankans working abroad. Pending completion of a forensic audit by the Auditor General, the committee directed the suspension of gazettes extending such licenses.

State Ministers and Members of Parliament, including Lasantha Alagiyawanna, Sisira Jayakodi, Anuradha Jayaratne, and others, were present at the committee meeting.



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Death toll rises to 607, missing persons reduce to 214 at 1800hrs today (5)

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The situation report issued by the Disaster Management Centre at 1800hrs today (5th December) confirms that 607 persons have died due to the adverse weather conditions while the number of missing persons has reduced to 214.

The number of persons affected topped the 2 million mark (2,082,195).

 

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Sri Lanka Navy takes delivery of Ex-USCGC DECISIVE

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The Sri Lanka Navy (SLN) formally took delivery of the EX- United States Coast Guard Cutter, USCGC DECISIVE, provided by the United States to SLN, at a ceremony held at the United
States Coast Guard Yard in Baltimore on 02 Dec 25. The event was also attended by the Commander of the Navy, Vice Admiral Kanchana Banagoda.

The ship formally joined the SLN fleet on 02 December under the pennant number P 628 and the main mast of the ship will fly the National Flag effective from that date.

Aiming to strengthen and develop partnerships to overcome common challenges in the maritime domain, the U.S. Coast Guard has previously provided 03 ships to SLN and they are currently patrolling island waters under the names of ‘Samudura’ (P 621), ‘Gajabahu’(P 626), and ‘Vijayabahu’ (P 627).

As an extension of partnership ties that bring value to each other’s services, Ex-USCGC DECISIVE was transferred as the fourth ship to be handed to SLN.

Ex-USCGC DECISIVE, a ‘B-Type Reliance Class 210-foot Cutter’, measures 64m in length, and having endurance of 6000 NM at cruising speed. Further, she has been designed for a
crew of 100 and is equipped with weapons and machinery.

The ship which was used by the U.S. Coast Guard has rendered exceptional service during her tenure by curbing illegal activities, including smuggling of narcotics in U.S. waters.

Sri Lanka inherits an Exclusive Economic Zone (EEZ) that is seven times larger than the landmass. In such a backdrop, the Navy is determined to deploy this vessel in wide-ranging
operations that include the conservation of marine resources in the region and the search and rescue of naval and fishing communities in distress. Thereby, the Navy will be able to utilize
this vessel efficiently in the future to achieve the national aspiration, while ensuring safe and secure seas for all economic affairs.

The formal handing over – taking over ceremony was also distinguished by the presence of the Deputy Chief Acquisition Officer and Director of Domain & Integration Services U.S. Coast
Guard,  James L. Knight, Deputy Assistant Secretary of War for South and Southeast Asia, Dr. Andrew Byers, the Ambassador of Sri Lanka to the United States, Mahinda Samarasinghe, Commanding Officer designate of P 628, Captain Gayan Wickramasuriya as well as a group of officials from the Embassy of Sri Lanka in United States and the State Department
of the United State

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486 dead, 341 missing, 171,778 displaced as at 0600hrs today [05]

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The situation report issued by the Disaster Management Center at 0600hrs today [5th December] confirms that 486 persons have died and another 341 persons are missing after the devastating weather conditions in the past week.

171,778 persons have been displaced and have taken refuge at 1,231 safety centers established by the government.

 

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