News
COPA reveals highway robbery in the guise of issuing permits to import EVs
A probe by the parliamentary watchdog, the Committee on Public Accounts (COPA), has revealed a significant misuse in the process of issuing licenses to import fully electric vehicles by Sri Lankans working abroad, based on foreign remittances.
The investigation found malpractices, including some importers holding over 600 electric vehicle licenses, as well as licenses being issued to individuals who had not travelled abroad during the relevant period.
The COPA probe, chaired by MP Aravinda Senarath, uncovered evidence that raised suspicions of money laundering in the issuance of licenses.
The Auditor General pointed out that the government lost Rs. 2.42 billion in tax revenue due to an increase in the luxury tax exemption limit for 921 vehicles imported up to September 30, 2024.
The Committee also discussed special audit reports related to a scheme, implemented between May 1, 2022, and September 15, 2023, which granted permits for the importation of fully electric vehicles for Sri Lankans employed abroad, based on foreign remittances.
The Auditor General revealed that 1,077 vehicle permits were issued during this period, of which 77 permits were later cancelled. He also noted that two main institutions acted as importers, providing facilities for 640 permit holders. This suggested that a business had been created under the guise of permit issuance.
Furthermore, due to an increase in the luxury tax exemption threshold, from Rs. 6 million to Rs. 12 million for 921 vehicles imported until September 30, 2024, the Auditor General stated that the government lost tax revenue amounting to Rs. 2.42 billion.
It was also revealed that four individuals, who had not travelled abroad during the relevant period, had been issued electric vehicle permits. Since the circular relevant to this scheme did not specify a minimum duration of overseas employment required for eligibility, individuals, who had been abroad for as little as three days or up to three months, as well as those who travelled intermittently, were granted permits. The Ministry of Labour and Foreign Employment had acted under this scheme before it was revised.
Deputy Ministers Maj Gen (rtd.) Aruna Jayasekera, Nalin Hewage, Sugath Thilakaratne, and MPs Kabir Hashim, Dr. M.L.A.M. Hizbullah, Chandana Sooriyaarachchi, Sagarika Athauda, Oshani Umanga, Dinindu Saman Hennayake, T.K. Jayasundara, Manjula Suraweera Arachchi, Ruwanthilaka Jayakody, Lal Premanath, and several government officials attended the meeting.
by Saman Indrajith
Latest News
Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
The Natural Hazards Early Warning Centre has issued an Advisory for Severe Lightning for the Sabaragamuwa, Central and Uva provinces and in Hambanthota district.
The advisory issued at 02.00 p.m. today [07 April 2025] is valid for the period until 11.00 p.m. 07 April 2025
The public are warned that thundershowers accompanied by severe lightning are likely to occur at several places in for Sabaragamuwa, Central and Uva provinces and in Hambantota district. There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.
ACTION REQUIRED:
The Department of Meteorology advises that people should:
Seek shelter, preferably indoors and never under trees.
• Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
• Avoid using wired telephones and connected electric appliances during thunderstorms.
• Avoid using open vehicles, such as bicycles, tractors and boats etc.
• Beware of fallen trees and power lines.
• For emergency assistance contact the local disaster management authorities.
The report of the “Census of Population and Housing 2024,” conducted by the Department of Census and Statistics, was officially handed over to President Anura Kumara Disanayake this morning (07) at the Presidential Secretariat.
This preliminary report has been prepared based on island wide data collected between October and December 2024.
The report provides details on Sri Lanka’s population, its growth and the distribution of the population across districts.
The information gathered through the census is vital not only for the government but also for other institutions in formulating policies and development plans essential for the country’s progress. Significantly, for the first time in the history of census-collecting in Sri Lanka, data collection was carried out using tablet computers and user-friendly mobile devices.
The event was attended by Deputy Minister of Finance & Planning, Harshana Suriyapperuma, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardana, Director General of the Department of Census and Statistics D.D.G.A. Senevirathne and several other officials.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
Rains add to misery in quake-hit Myanmar as death toll rises to 3,471
Zimbabwe to scrap tariffs on US goods as it faces 18% Trump levy
-
Business16 hours agoColombo Coffee wins coveted management awards
-
Features2 days agoStarlink in the Global South
-
Business3 days agoDaraz Sri Lanka ushers in the New Year with 4.4 Avurudu Wasi Pro Max – Sri Lanka’s biggest online Avurudu sale
-
Business4 days agoStrengthening SDG integration into provincial planning and development process
-
Business3 days agoNew SL Sovereign Bonds win foreign investor confidence
-
Sports5 days agoTo play or not to play is Richmond’s decision
-
Features2 days agoModi’s Sri Lanka Sojourn
-
Sports4 days agoNew Zealand under 85kg rugby team set for historic tour of Sri Lanka