News
Deep concerns arise as UNDP report reveals 55.7% of Lankans vulnerable to economic risk
Chairman of Parliament’s Ways and Means Committee, MP Patali Champika Ranawaka, has voiced profound apprehension about the current state of affairs and the looming prospect of heightened risk in the coming year. Alarming estimates from the United Nations Development Programme (UNDP) suggest that up to 8 out of 10 individuals in the country could fall into the risk zone.
This disquieting revelation arises from the UNDP’s latest report titled ‘Navigating Vulnerability: Insights from Sri Lanka’s Multidimensional Vulnerability Index’ for 2022-23, which has exposed startling statistics. The report indicates that a staggering 55.7% of Sri Lanka’s population, equating to over half of the nation’s inhabitants, grapples with multidimensional vulnerability.
Addressing a committee meeting held at the parliamentary complex, MP Ranawaka has underscored the immediate necessity to establish a structured and robust social safety net to safeguard the interests of the vulnerable segments of society, according to parliamentary sources.
The UNDP report elucidates various contributing factors to vulnerability, including a notable percentage of households lacking individuals who have attained Ordinary Levels (OL) in education. Furthermore, it reveals that 35.6% of the population lacks access to piped water in their residences, underscoring the critical need for equitable and widespread provision of safe water.
Ranawaka’s deep concerns extend not only to the present circumstances but also to the anticipated escalation of risks in the forthcoming year. His emphasis on the urgency of a formal and sturdy social safety net aligns with the report’s findings.
The comprehensive assessment within the report encompasses twelve crucial factors, encompassing aspects such as school attendance, health, access to sustenance and clean water, disaster preparedness, adaptability, quality of life, property ownership, employment status, and indebtedness.
Officials from various governmental bodies, including the Department of Social Services, Social Security Board, Welfare Benefits Board, and the Ministry of Finance, attended the meeting and engaged in discussions pertaining to the government’s social welfare programs and the social security network.
The Chairman of the Ways and Means Committee also pinpointed certain shortcomings in the beneficiary selection process for the ‘Awaswasuma’ benefit programme. Issues flagged include the inclusion of inappropriate criteria, improper data collection practices, and procedural intricacies within the appeals process. In response, he proposed the involvement of experienced officers, such as Grama Niladhari Officers, development officers, and agrarian research officers, to enhance the process’s efficiency and effectiveness.
This alarming revelation has stirred a renewed focus on addressing vulnerabilities within Sri Lanka and fortifying mechanisms for economic resilience among its citizens.
News
Amendment of the Inland Revenue Act No. 24 of 2017
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
News
Cabinet nod for “National Mineral Policy” – 2026
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
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