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House to debate draft Central Bank law on May 11

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Parliament is scheduled to take up for debate a bill for a new central bank law on May 11 and a welfare benefit bill on May 12, a statement from the parliament said.The controversial new central bank is expected to legalize output gap targeting (printing money for growth) as a sub objective.

The banks will also get a legal mandate to simultaneously operate money and exchange polices, (so-called dual anchor or impossible trinity regime), in the course of operating flexible inflation targeting regime.

Provisional advances – another form of delivering liquidity shocks – will be done for interest instead of free as of now.

Sri Lanka has had monetary instability from shortly after the central bank was created in 1950 with simultaneous money and exchange policies but the country had managed to avoid external sovereign default until 2022.

Flexible inflation targeting with output gap targeting with aggressive open market operations started around seven years ago after the IMF gave technical assistance to calculate a so-called potential output.



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Experts: NPP education reforms unsuitable for SL

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Proposed education reforms have drawn sharp criticism from education professionals, teacher unions and student organisations, who warned on Thursday that the changes risk undermining child safety, widening inequality and imposing unaffordable costs on parents.

Addressing a press conference in Colombo, Dr Ayomi Irugalbandara of the Faculty of Education at the Open University of Sri Lanka said the proposed reforms appeared to be largely modelled on foreign education systems without adequate consideration of local realities.

She took particular issue with proposals to integrate social media use into the school curriculum, noting that several developed countries have moved in the opposite direction by preventing children under the age of 15 from accessing social media platforms.

“Most of these modules are not appropriate for this country,” Dr Irugalbandara said. “We warn parents that these reforms place children at risk.”

Concerns were also raised over digital content linked to the revised curriculum. Inter-University Students’ Federation Convener Madushan Chandrajith said the Grade Six Information and Communication Technology (ICT) module included QR codes that directed students to a controversial YouTube channel.

“Who will take responsibility for children accessing such content?” he asked, calling for clear accountability mechanisms for material linked through digital platforms used in schools.

Secretary of the Workers’ Struggle Centre, Duminda Nagamuwa, criticised the government’s approach to the reform process, comparing it to the fertiliser policy introduced under former President Gotabaya Rajapaksa. He alleged that the authorities were pushing ahead with education reforms despite opposition from academics, teachers and other stakeholders.

Nagamuwa also highlighted the economic burden on families, noting that Sri Lanka’s poverty rate had increased from 12.5 percent to 25 percent. He questioned how parents were expected to afford smartphones or tablet computers required for students to access QR code-linked educational content.

“The government is asking parents to bear costs they simply cannot afford,” he said.

Ceylon Teachers’ Union General Secretary Joseph Stalin said schools had already begun collecting money from parents in anticipation of the reforms, including funds to purchase smart boards.

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Sajith: Ashoka Chakra replaces Dharmachakra in Buddhism textbook

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Premadasa speaking in parliament

Opposition and SJB Leader Sajith Premadasa on Friday told Parliament that the Buddhism textbook contained a “serious error,” citing the use of the Ashoka Chakra instead of the Dharmachakra.

He said the Dharmachakra depicted in the book differs from the one featured in the state symbol and called on the Education Minister to correct the mistake.

Responding, Education Minister and Prime Minister Harini Amarasuriya said the Dharmachakra used in the textbook had been approved by the Ministry of Buddhist Affairs. She added that the advisory board on Buddhism had also endorsed it.

The Premier further noted that during her recent visit, Mahanayake Theras confirmed that the Dharmachakra in the textbook was the officially approved version.

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Kelaniya Duruthu Perahera dazzles crowds with tradition and splendour

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The Annual Kelaniya Duruthu Perahera at the historic Kelaniya Raja Maha Viharaya lit up the streets once again, concluding on Saturday night after three days of colourful pageantry.

First held in 1927 thanks to the vision of philanthropist Don Walter Wijewardene, son of Helena Wijewardene Lamathani of Sedawatte, the Kelaniya Duruthu Maha Perahera has grown into one of Sri Lanka’s most elaborate and grand low-country Buddhist pageants.

The Perahera commemorates the sacred visit of the Buddha to Kelaniya, the most revered temple in Sri Lanka’s Western Province. Celebrated annually during Duruthu Poya in January, the event showcases a fusion of historic, cultural, and religious traditions.

This year, under the guidance of Chief incumbent Venerable Professor Mahinda Sangarakkitta Nayaka Thera and Dayaka Sabha President Dr. Saman Weerasinghe, the festivities began with the ceremonial handover of the Sacred Relic Casket by Chancellor of Kelaniya University, Agra Maha Panditha Ven. Professor Kollupitiya Mahinda Sangharakkita Nayake Thera, to Chief Basnayake Nilame Dhammika Attygalle.

The sacred relic procession was followed by three Devale Peraheras dedicated to God Vibishana, God Kataragama, and God Vishnu, captivating devotees and tourists alike with traditional drumming, vibrant costumes, and ceremonial elephants.

The Perahera festivities also featured Pahalamaluwe Perahera on 8th January, Sacred City Perahera on 9th January, and the Grand Duruthu Maha Perahera on 10th January, with all events commencing at 8:00 pm. Special enclosures were arranged to accommodate foreign tourists, providing an immersive view of Sri Lanka’s rich cultural heritage.

As lanterns faded into the night sky and devotees paid homage, the Kelaniya Duruthu Perahera once again reaffirmed its place as a cornerstone of Sri Lanka’s cultural and religious calendar.

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