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Future of Sri Lanka will be determined by the economic policies implemented over the next five years: President

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President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years.

The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held Sunday (16).

The President initially attended the Mannar District “Youth Conference” at the Conference Hall in Mannar Town Hall. The conference, themed “Journey for a Bright Future,” included an award ceremony where the President presented certificates and cash prizes to students who excelled in the 2023/2024 G.C.E Advanced Level Examination.

President Wickremesinghe interacted directly with the youth, addressing their questions and providing positive responses.

He explained that over the past four years, job creation was hindered by the COVID-19 pandemic and economic crisis. However, he assured the audience that the upcoming economic programme would create new job opportunities for those previously unable to secure employment.

The President emphasized that it is up to the youth to decide whether they wish to advance their own future and contribute to the country through the government’s programme.

Additionally, President Ranil Wickremesinghe convened a meeting with the business community of Mannar district on Sunday (16) in Mannar.

The President emphasized that continuing the current government’s economic policies will attract a significant number of investors to the country in the future.

He also underscored that maintaining consistent economic policies over time will lead to success for the country.

The President highlighted that the new economic policy, introduced through the Economic Transformation Law, represents a pivotal step forward for the country. He underscored that this framework equips any government with the capability to drive the nation forward.

The President noted that despite longstanding efforts by the people of Sri Lanka to seek political solutions, there has been a noticeable absence of initiatives aimed at addressing economic challenges. He stressed that sustainable national development hinges on the implementation of robust economic policies.

Highlighting his achievement in revitalizing the country’s economy within a short span of two years, the President assured that further relief measures would be extended to all sectors as the economy continues to strengthen.

Furthermore, the President briefed the youth and business communities on the government’s initiatives aimed at fostering comprehensive development in the Mannar district.

State Minister Kader Mastan, Members of Parliament Selvam Adaikalanathan, Northern Province Governor P.S.M.Charles and other political representatives of the province were also present on this occasion.



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Amendment of the Inland Revenue Act No. 24 of 2017

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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.

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Cabinet nod for “National Mineral Policy” – 2026

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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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Twelve sentenced to death by Gampaha High Court

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The Gampaha High Court has sentenced Twelve (12) individuals to death over the 2022 murder of former Polonnaruwa District Member of Parliament Amarakeerthi Athukorala and his security officer.

 

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