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CoPF approves, subject to conditions, the bill to suspend the “parate law” until December 15

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The Committee on Public Finance (CoPF) has approved, subject to conditions, the Recovery of Loans by Banks (Special Provisions) (Amendment) Bill which was amended to facilitate legal provisions for the suspension of Parate Law until December 15 2024. Accordingly, the banks’ practice of acquiring properties of whose loans are yet to be paid off will be suspended until December 15 and the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990 will be amended to facilitate the necessary legal provisions.

The approval was given when the Committee on Public Finance met in Parliament recently (Apr. 30) under the chairmanship of Member of Parliament Dr. Harsha De Silva.

Officials representing the Ministry of Finance said that they hope to provide temporary relief to the creditors. Accordingly, the committee questioned the officials what action will be taken in this regard after December 15. Thus, the officials present failed to give a clear answer in this regard and the committee recommended to provide a road map for the actions to be taken after December 15 to those subject to Parate Law.

Also, the committee recommended that all the parties who have done business with the banks subject to Parate Law should be given a fair opportunity to negotiate with the banks.

The committee also questioned the officials about the distribution of loans under the Parate Law. The chair of the committee inquired about the manner in which the micro, small scale and medium scale enterprises in particular have received loans under this law and the criteria under which they are classified. The officials did not have the correct data about this and the chair of the committee instructed the officials to provide that data to the committee.

The committee also inquired the percentage of the sectors that were most affected. Furthermore, the committee asked the officials to provide data on the implementation of the Parate Law in other periods compared to the specific period in which there was an economic recession due to the impact of the corona virus in 2020, 2021 and 2022. The officials present mentioned that the data on this matter this will be presented to the committee in the future.

Meanwhile, the committee has also given its approval for the orders under the Foreign Exchange Act No. 12 of 2017 and the regulations under the Sri Lanka Securities and Exchange Commission Act No. 19 of 2021. Also, the committee approved the regulations under the Import and Export (Control) Act No. 1 of 1969.

State Minister. (Dr.) Suren Raghavan, Members of Parliament Hon. Premnath C. Dolawatta and Hon. Madhura Withanage participated in this committee.

Officials representing several government institutions including the Ministry of Finance, Economic Stabilization and National Policy, the Auditor General’s Department, the Central Bank of Sri Lanka, and Sri Lanka Customs were present.



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Voting closes in Iceland’s knife-edge EU referendum

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Iceland's Foreign Minister Thorgerdur Katrin Gunnarsdottir casts her ballot at a polling station in the town of Hafnarfjordur during the EU referendum on August 29, 2026 (Aljazeera)

Voting has closed in Iceland’s referendum on resuming membership negotiations with the European Union.

Voting stations closed on Saturday, but it could take several hours for a clear victory for either the “yes” or “no” camp to emerge.

The referendum does not have exit polls, and ballot counting only began once voting stations closed.

Polling suggests the vote is on a knife wdge, with different surveys putting either side narrowly ahead, but none straying more than a few points from an even 50/50 split.

The vote comes 13 years after Iceland, then led by a Eurosceptic government, paused EU accession talks.

The country is currently governed by the pro-EU Social Democratic Alliance, which called the vote and promised to honour whatever the Icelandic public decides.

If Icelanders vote “yes”, the country would likely start years of negotiations with Brussels to hammer out membership terms. It would then hold a second referendum on whether to formally become part of the EU.

Security, the relatively sluggish Icelandic economy, and the future of the Icelandic currency, the krona, have all been significant themes in the run-up to the vote

(Aljazeera)

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Sun directly overhead Mannar, Periyamadu, Puliyankulam, Welioya and Pulmoddai about 12.11 noon today (30)

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The sun is going to be directly over the latitudes of Sri Lanka from  28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (30) are Mannar, Periyamadu, Puliyankulam, Welioya and
Pulmoddai about 12.11 noon.

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Thirty-six naval personnel pass out on successful completion of Marine training

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Thirty-six (36) naval personnel completed an eight-month Basic Marine Qualification Course and received their Marine insignia at the main parade ground of SLNS Vidura in Sampur, Trincomalee today, (29 August 2026).

At the invitation of Commandant SLNS Vidura, Captain Ravindu Harischandra, the ceremony was graced by Rear Admiral Buddhika Liyanagamage, Deputy Chief of Staff of the Navy and Commander Eastern Naval Area.

The group, comprising 3 officers and 33 sailors, completed the 10th intake of the Basic Marine Qualification Course, after volunteering for the demanding training programme.

In recognition of exceptional performance during the training, trophies were presented to outstanding personnel. Lieutenant (S) VPA Sasanka was awarded trophies for Best Marine of the Course, Highest Aggregate in Overall Subjects, and Best Marksman.

Physical Training Instructor WMGDP Bandara received the trophy for Best Physical Fitness. Addressing the newly qualified personnel,

Rear Admiral Liyanagamage congratulated them on successfully completing the course. He urged them to use the skills and experience gained through their training to contribute to safeguarding the country’s sovereignty and territorial integrity.
He also called on them to apply the courage and determination developed during the course both in their professional and personal lives, and to remain prepared to meet any challenge faced by the country.

He stressed the importance of keeping their knowledge and training up to date and maintaining constant vigilance while carrying out their duties.

Rear Admiral Liyanagamage also expressed his appreciation to
the Commanding Officer of SLNS Vidura and the directing staff for their contribution to the successful completion of the course.
The insignia ceremony also included a demonstration showcasing the capabilities and skills of the Sri Lanka Navy Marine.

Rear Admiral Achala Silva, Director General Logistics; Rear Admiral Kusal Dissanayake, Commandant Naval Infantry; Commodore Sanjeewa Kodikara, Director Marine; officers
from Navy Headquarters and the Eastern Naval Area; senior officers from the Army, Air Force and Police; and parents of the newly passed out marine personnel attended the ceremony.

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