News
ISMM elects new President
Sarath Gamage was unanimously elected as the16th President at the AGM of the Institute of Supply and Materials Management (ISMM) held at the Western Province Aesthetic Resort on March 27.
He is the youngest to be elected to head the Institute since its establishment in 1972. He is also a Vice President of the Organization of Professional Associations of Sri Lanka (OPA).
Gamage serves as the General Manager of St. Anthony’s Consolidated (Pvt) Ltd. and St. Anthony’s Hardware (Pvt) Ltd.
The ISMM is the pioneer in supply chain education in Sri Lanka and was incorporated by an Act of Parliament in 1981.
At present, it conducts 16 courses in English and Sinhala in Supply Chain related subjects for the benefit of school leavers as well as those already employed in the relevant fields.
At present, the ISMM membership stands at around 1,200 in all categories. Members qualified in the field of Supply Chain Management work for leading private and public sector organizations in Sri Lanka and overseas.
ISMM is a member of the International Federation of Purchasing and Supply Management, the international body which encompasses all supply chain Institutes worldwide. ISMM is also affiliated to the International Trade Centre in Geneva and is their franchise holder in Sri Lanka for conducting ITC’s International Diploma in Purchasing and Supply Chain Management course.
News
Showers will occur at times in the Western, Sabaragamuwa, Central, North-western and Northern provinces and in Anuradhapura, Galle and Matara districts
WEATHER FORECAST FOR 16 MAY 2026
Issued at 05.30 a.m. on 16 May 2026 by the Department of Meteorology
According to the today’s latest weather analysis, the low-pressure area located northeast of Sri Lanka, still persists. The Department of Meteorology is continuously monitoring the behavior, development and path of the system.
Due to the influence of the above system, Showers or thundershowers will occur at times and cloudy skies are expected in the Western, Sabaragamuwa, Central, North-western and Northern provinces and in Anuradhapura, Galle and Matara districts. Fairly heavy showers about 75 mm are likely at some places in these areas. Showers or thundershowers may occur at a few places in the Uva and Eastern provinces after 1.00 pm.
The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.
News
Lanka’s eligibility to draw next IMF tranche of USD 700 mn hinges on ‘restoration of cost-recovery pricing for electricity and fuel’
The International Monetary Fund (IMF) said on Thursday that the completion of Sri Lanka’s combined Fifth and Sixth Reviews, under the Extended Fund Facility (EFF), remains subject to approval by its Executive Board, which is expected to meet in the coming weeks.
Addressing a media briefing, IMF Communications Department Director, Julie Kozack, said IMF staff and Sri Lankan authorities had reached a staff-level agreement on 09 April.
She noted that several prior actions must be completed before the programme can be submitted to the Executive Board, including the restoration of cost-recovery pricing for electricity and fuel, measures to protect vulnerable groups, and the completion of financing assurances.
Upon Board approval, Sri Lanka would gain access to approximately US$700 million in financing, Kozack said.
Responding to a question on whether the government’s fuel subsidy scheme — including the Rs. 100 per litre diesel subsidy — was consistent with the IMF’s pricing framework, Kozack declined to comment directly on the measure. However, she reiterated that the programme requires both cost-recovery pricing reforms and safeguards for vulnerable communities.
Kozack also observed that Sri Lanka had recently faced “two very large shocks”, referring to Cyclone Ditwah and the wider external impact of the Middle East conflict, which, she said, had affected both the economy and the public.
Despite these challenges, she said Sri Lanka’s reform programme was yielding positive results, citing strong fiscal performance in 2025, progress in debt restructuring, 5 percent economic growth, and inflation returning to positive territory following a period of deflation.
She reaffirmed the IMF’s commitment to supporting Sri Lanka’s reform agenda, stressing that the institution continues to work closely with the authorities to sustain economic stability and recovery.
News
Sanath Nishantha’s brother sentenced to jail over assault case
Former Arachchikattuwa Pradeshiya Sabha Chairman, Jagath Samantha, was yesterday sentenced to five-and-a-half years’ rigorous imprisonment by the Chilaw High Court after being found guilty of assaulting the Arachchikattuwa Divisional Secretary.
The court also ordered Samantha to pay Rs. 1 million as compensation to the victim, failing which he will serve an additional 24 months in prison.
The case had originally been filed against former State Minister Sanath Nishantha and his brother Jagath Samantha over the assault incident.
However, following the death of Sanath Nishantha, in a road accident on the Katunayake Expressway, on 25 January, 2024, only Samantha appeared before court for the proceedings.
The verdict was delivered after the High Court considered the evidence and submissions presented during the trial.
-
News6 days agoLanka Port City officials to meet investors in Dubai
-
News3 days agoEx-SriLankan CEO’s death: Controversy surrounds execution of bail bond
-
Features4 days agoWhen University systems fail:Supreme Court’s landmark intervention in sexual harassment case
-
Features4 days agoHigh Stakes in Pursuing corruption cases
-
Midweek Review3 days agoA victory that can never be forgotten
-
Features6 days agoServing as MR’s Deputy Finance Minister and the travel the job entailed
-
Features6 days agoBengal Turns BJP, Didi Falls
-
News5 days ago150th anniversary celebrations of Ave Maria Convent, Negombo
