News
Corruption has cost SL second tranche of IMF loan: Sajith
By Saman Indrajith
Opposition and SJB leader Sajith Premadasa told Parliament yesterday that Sri Lanka had failed to secure the crucial second tranche of a $3 billion loan from the International Monetary Fund as the country was still being ruled by the same corrupt family regime, which had bankrupted the economy.
Premadasa said that the government was increasing taxes on professionals and jacking up the prices of fuel, water and electricity, saying that it needed to increase state revenue but had done nothing to collect 1.7 billion-rupees in taxes due from two liquor producing companies.
Premadasa said that the talks on progress review to be entitled for the second tranche of the IMF loan had failed because the government failed to complete its commitments. “The IMF has said that it did not reach a staff-level agreement with Sri Lanka in its first review. The government could neither achieve the targets set out by the IMF nor uphold democracy and prevent corruption,” Premadasa said, demanding to know when the government would be able to complete the list of obligations it has been given by the IMF.
Premadasa said that the IMF had observed that corruption was rampant.
The IMF had also observed that social welfare mechanisms had come to a halt and the government’s inability to prevent corruption had resulted in collapse of the rule of law, Premadasa said, adding that Sri Lanka would have to strengthen tax administration, remove tax exemptions and actively eliminate tax evasion to increase state revenue.
“Now, the government is increasing taxes on essential commodities and amenities but it has done nothing against tax evasion by two liquor producing companies who alone owe 1.7 billion rupees to government coffers in taxes,” Premadasa said.
The Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to instruct the Legal Draftsman to prepare a draft bill to amend the State Mortgage and Investment Bank Law No. 13 of 1975
By Cabinet decision dated 2025-12-01, policy approval was granted to amend the definition of the term “animal” in the Animals Act No. 29 of 1958 by including, pigs, goats, and sheep, in addition to cattle and buffaloes, within the interpretation section of the act.
In accordance with the said approval, the Legal Draftsman has drafted an Amended Bill in all three languages, and the clearance of the Attorney General has also been obtained.
Accordingly, the Cabinet of Ministers has approved the
resolution furnished by the Minister of Agriculture, Livestock, Land and Irrigation to publish the draft Amendment Bill in the Government Gazette and thereafter to submit the same to the Parliament for its concurrence.
News
Cabinet approves establishment of a ‘Trust’ to carry out the management of the Jaffna Thiruvalluvar Cultural Centre
The Jaffna Thiruvalluvar Cultural Centre, comprising 11 floors, has been constructed with the assistance of the Government of India with the objective of serving as a hub for cultural activities in Sri Lanka and expanding bilateral cooperation for the promotion, preservation, and fostering the cultural heritage of Jaffna.
In accordance with the approval granted at the Cabinet meeting held on 2022-02-21, a Joint Management Committee has been appointed to make decisions relating to the affairs of the said cultural centre, in terms of the Memorandum of Understanding signed for the operation of the Jaffna Thiruvalluvar Cultural Centre.
According to the provisions of the aforementioned MOU, upon completion of the construction of the project, the cultural centre should be transferred to the Jaffna Municipal Council through the Government of Sri Lanka.
Following such transfer, the relevant parties have reached an agreement to establish a ‘trust’ for carrying out the management activities of the centre. The Attorney General’s clearance has been received for the draft trust deed prepared for that purpose.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Buddhasasana, Religious and Cultural Affairs to establish the trust to continue the management activities of the Jaffna Thiruvalluvar Cultural Centre
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Eshan Malinga keeps getting them in the second half
State Mortgage and Investment Bank Law No. 13 of 1975 to be amended
Animals Act No. 29 of 1958 amended
Cabinet approves establishment of a ‘Trust’ to carry out the management of the Jaffna Thiruvalluvar Cultural Centre
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