News
GL explains reasons for unprecedented success of SLPP in a short space of four years
The SLPP could rightly identify itself with the conscience and aspirations of the common people of this country and that ensured its success story, Chairman of the party Prof GL Peiris said yesterday.
In a statement issued to mark the fourth anniversary of the party, Prof Peiris said that the SLPP had been able to write a new chapter in local political history within a short period of 16 months by obtaining 71 percent of votes.
“The results of the 2015 general election changed the political mindset of people. They realized that the country’s future was not certain and the government that came to power promising to fulfill the wishes of people was not capable of the task. They discerned a huge vacuum in the polity with the absence of patriotic and progressive forces.
People then started to think of an alternative under the leadership of Mahinda Rakjapaksa. Basil Rajapaksa played a pioneering role in organizing the patriotic forces to fill the aforementioned gap and his dedication materialized in the advent of a new political force under the name of SLPP in November 2016 under the Lotus Bud symbol. The local government election results of 2108 indicated that SLPP is becoming a formidable force. The results showed that the new party within a short period of 16 months has been able to muster 71 percent of votes. The winning streak continued with winning the presidential election with 6,924,255 votes setting up a record that SLPP is the party with the highest number of votes within the shortest possible time in its existence.
The SLPP clearly understood the conscience of people and identified with the aspirations of people all over the country. It could record a resounding victory with its members securing a two thirds power in parliament in the last general election turning the political history of the country upside down. I consider it a privilege for me to become the chairman of such a political party that redefined all norms and standards and by setting up new heights in the local polity, Prof Peiris said in his statement.
As per the provisions of section 51 of the Public Finance Managaement Act No. 44 of 2024, the public should be issued with a report on the final budgetary situation for each year and, the report is then published in the official website of the Ministry of Finance, Planning and Economic Development.
Thereby the report has to be submitted to the Parliament. The final budgetary situation report (Annual Report) – 2025 has been prepared by the Ministry of Finance, Planning and Economic Development and published. The report contains the Public Finance Policy, strategies and challenges, economic trends in 2025, macro – economic and socio – economic indicators covering all sectors of the economy as well as description on the global economic growth.
Furthermore, it accompanies a detailed description government revenue and expenditure, cash flow management, financing the budget deficit and the loan structure.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the Report on the Final Budgetary Condition (Annual Report) – 2025 to Parliament.
Business
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Approval of the Cabinet of Ministers was granted at their meeting held on 16.03.2026 to obtain United States Dollars 380 million from the policy – based loan facilities of the Asian Development Bank in the year 2026.
United States Dollars 100 million out of it is allocated for Trade, Investment and Industries Development Programme – Sub Programme 1. However, amidst the economic uncertainty resulting from the current Middle East crisis and the climatic tragedies, the Asian Development Bank has agreed to assist
by increasing a supplementary financing package of United States Dollars 100 million so that it will beMincreased up to United States Dollars 200 million.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to take further measures to obtain the said loan grant.
News
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Approval of the Cabinet of Ministers was given at the meeting held on 23.02.2026 to impose the custom import duty amounts under four (04) categories as 0%, 10%, 20%, and 30% which had been executed only under three (03) categories in order to increase the target export income of the country, to execute the
recommendations of the national customs duty policies committee, and to implement new national sub division customs codes for promoting the local agricultural and industrial sector.
Imposing provisions in relation to the above, the Revenue Protection Order – No. 01/2026 under the Revenue Protection Act No. 19 of 1962 has been published in the extraordinary gazette notification No. 2478/03 of 03.03.2026.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the said revenue protection order to Parliament for its concurrence.
Report on the Final Budgetary Condition (Annual Report) – 2025 submited to parliament
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Resettlement of unauthorized settlers affected by the Land Acquisition process for the implementation of Phase III of the Baseline Road Extension Project
Cabinet approves project to modernize school hostel facilities during the 2026–2028 period at an estimated cost of Rs. 1,008 million
New National Action Plan for Human-Elephant Conflict Management to be drafted
‘Dates have the highest sugar content to fight Coronavirus’
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