News
High-powered Chinese delegation whisked away on arrival at BIA
The 26-member higher-powered Chinese delegation, which arrived in Colombo on Thursday night, was whisked away under a tight security escort.
Our Airport Correspondent says the VVIP Lounge was declared out of bounds to journalists and no photographs of the visiting delegation were allowed.
The delegation, which arrived aboard a special flight BJN099 from Beijing at 7.40 pm, was welcomed by State Minister Tharaka Balasuriya, Foreign Secretary Jayanath Colombage and senior Chinese Embassy officials in Colombo.
However, as soon as the members of the delegation emerged from the VVIP Lounge, they were ushered into a convoy of waiting vehicles and driven away under security escort, our BIA correspondent said.
Under normal circumstances all visitors to Sri Lanka must quarantine for 14 days. However, members of the visiting Chinese delegation were not placed under quarantine as they had undergone a PCR test prior to arriving in Sri Lanka, Health Minister, Pavithra Wanniarachchi said.
The delegation, led by former Chinese Foreign Minister and incumbent Communist Party Political Bureau Member, Yang Jiechi, met with President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa on Friday before leaving for Beijing later in the evening.
Being the first ever Chinese visit in the South Asian region, since the global Corona epidemic, the visit is expected to strengthen cooperation between Sri Lanka and China, in the areas of combating the global pandemic and revival of economic relations, the Foreign Relations Ministry said.
The travel bubble set up for the purpose of this important visit will confine the delegation to Colombo and restrict their engagements to just two meetings with the Head of State and the Prime Minister, under the strict health protocol prescribed by the Ministry of Health, it added.
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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