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IMF review must precede re-look at taxes: Shehan
ECONOMYNEXT –Sri Lanka will have to wait till the International Monetary Fund (IMF) has completed its first review of the ongoing IMF programme for the government to review its own fiscal policy, an official said, noting however that it will not step out of the programme’s framework regardless.
State Minister of Finance Shehan Semasinghe told reporters on Sept. 14 that state revenue had not increased to desired levels. He was responding to questions about ongoing protests by university lecturers against an IMF-prescribed tax hike and whether professionals can expect some relief at the end of this quarter.
“Let’s wait and see until the review is over. State revenue is not where it was expected to be. There are several reasons for that. Until the end of the review, we cannot make a clear statement on how we can bring state revenue to adequate levels,” said Semasinghe.
The state minister said the IMF review, which began on September 14, will continue for two week.
“Let’s see what we’re told after that. Regardless, the government is not prepared to work outside the framework of the IMF programme,” he added.
Semasinghe said the government wants the IMF’s 2.9 billion dollar extended fund facility (EFF) to be the last such facility from the international lender.
“The government has already formulated a strong legal framework, instilled fiscal discipline and transparency and accountability that’s needed for that,” he said.
The state minister is also optimistic that there will be no trouble receiving the second tranche of the EFF saying Sri Lanka has fulfilled its obligations and there will be no problem on that score.
At talks on Friday morning, an IMF delegation currently in Sri Lanka have discussed with Finance Ministry and Central Bank officials the challenges ahead both domestically and externally with regard to macroeconomic policy, he said.
“We expect that after this review is over, we can get the second tranche. The second tranche will signal to the world that they can be confident about Sri Lanka’s reforms and reliability.”
The Indian Naval Ship (INS) Sahyadri which arrived at the Port of Colombo on a formal visit on 04 Apr 25, departed the island today (07 Apr). The Sri Lanka Navy bade customary farewell to the departing ship at the Port of Colombo, following naval traditions.
During the ship’s stay in Colombo, crew members of INS Sahyadri took part in several programmes organized by the Sri Lanka Navy, aimed at enhancing mutual cooperation. In addition, they also explored some tourist attractions in the country. Further, personnel of Sri Lanka Navy had the opportunity to visit INS Sahyadri, gaining insights into her operational capabilities.
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Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
The Natural Hazards Early Warning Centre has issued an Advisory for Severe Lightning for the Sabaragamuwa, Central and Uva provinces and in Hambanthota district.
The advisory issued at 02.00 p.m. today [07 April 2025] is valid for the period until 11.00 p.m. 07 April 2025
The public are warned that thundershowers accompanied by severe lightning are likely to occur at several places in for Sabaragamuwa, Central and Uva provinces and in Hambantota district. There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.
ACTION REQUIRED:
The Department of Meteorology advises that people should:
Seek shelter, preferably indoors and never under trees.
• Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
• Avoid using wired telephones and connected electric appliances during thunderstorms.
• Avoid using open vehicles, such as bicycles, tractors and boats etc.
• Beware of fallen trees and power lines.
• For emergency assistance contact the local disaster management authorities.
The report of the “Census of Population and Housing 2024,” conducted by the Department of Census and Statistics, was officially handed over to President Anura Kumara Disanayake this morning (07) at the Presidential Secretariat.
This preliminary report has been prepared based on island wide data collected between October and December 2024.
The report provides details on Sri Lanka’s population, its growth and the distribution of the population across districts.
The information gathered through the census is vital not only for the government but also for other institutions in formulating policies and development plans essential for the country’s progress. Significantly, for the first time in the history of census-collecting in Sri Lanka, data collection was carried out using tablet computers and user-friendly mobile devices.
The event was attended by Deputy Minister of Finance & Planning, Harshana Suriyapperuma, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardana, Director General of the Department of Census and Statistics D.D.G.A. Senevirathne and several other officials.
INS Sahyadri sets sail from Colombo
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Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
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