News
Lanka will slash defence expenditure, President says
There will be cuts in the defence expenditure in the coming interim budget, President Ranil Wickremesinghe has told Reuters in an interview on Thursday.Wicrkemesinghe said that overall state expenses would be slashed by a few hundred billion rupees, and these would be redirected to welfare and debt repayment.Sri Lanka would seek Japanese help on bilateral debt restructuring with the country’s main creditor nations, including China and India, he said.
“Someone needs to call in, invite the main creditor nations. We will ask Japan to do it,” President Ranil Wickremesinghe told Reuters.
The President added that he would travel to Japan next month to meet Japanese Prime Minister Fumio Kishida.Wickremesinghe said that Sri Lanka expectedan IMF facility between 2 billion and 3 billion US dollars.
An IMF delegation was expected to visit Sri Lanka by the end of August to reach a staff-level agreement. After Sri Lanka reached a staff-level agreement with the IMF, it had to start engaging with its creditors on debt restructuring, he said.The President also said that an interim budget will be presented in September. The budget will focus on fiscal consolidation measures agreed with the IMF, he added. A full budget will be presented in November and he will outline broader recovery plans, Wickremesinghe said.
“So, both those budgets will put out government policy. The first one on stabilization and the second one will look at recovery,” he told Reuters.
Wickremesinghe said he believes that the economy will see some recovery, in the second half of 2023. There will be a three percent revenue surplus by 2025, he said.
“I think we are restructuring to make Sri Lanka a very competitive, export-oriented economy,” he told Reuters.
Wickremesinghe has also said that he is not aware of any plans by former President Gotabaya Rajapaksa to return to the country in late August, as reported by some media.
A significant rainfall of nearly 300 mm has been recorded in the upper catchment areas of the Kelani River Basin.
Based on this weather condition and the analysis of water level data from the hydrological gauging stations maintained by the Irrigation Department within the Kelani River Basin, a warning is hereby issued that a Minor Flood Situation is likely to occur within the next 24 hours in the low-lying areas of the Kelani River valley belonging to the Divisional Secretariat Divisions of Ruwanwella,Seethawaka, Dompe, Dehiovita, Eheliyagoda, Yatiyantota, and Bulathkohupitiya.
The public residing in these areas, as well as motorists traveling through these regions, are requested to exercise extreme caution regarding this situation.
Furthermore, if heavy rains persist, this flood situation could extend to the low-lying areas of the Kelani River valley downstream of Hanwella.
Disaster Management authorities are requested to take necessary actions in this regard.
The National Building Research Organisation (NBRO) has issued landslide early warnings to the districts of Gampaha, Kalutara and Ratnapura valid untill 0300 hrs on 23rd May 2026.
Accordingly,
Level II landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Attanagalla in the Gampaha district and Ratnapura and Kuruvita in the Ratnapura district.
Level I landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Bulathsinghala in the Kalutara district and Eheliyagoda in the Ratnapura district.
The President’s Fund has expressed its attention towards providing a monthly scholarship allowance for school-going children of low-income lottery sellers, as a means of supporting their educational needs.
This was revealed during a discussion held om Wednesday (20) at the Presidential Secretariat between the Secretary to the President’s Fund and Senior Additional Secretary to the President, Roshan Gamage and officials of the National Lotteries Board and the Development Lotteries Board.
The President’s Fund currently provides financial assistance across a wide range of sectors to support low-income groups, while also implementing various scholarship schemes for schoolchildren. As an additional step, approval has reportedly been granted by the governing board of the President’s Fund to extend scholarships to children of low-income lottery sellers.
It was noted that the National Lotteries Board and Development Lotteries Board make a significant contribution to the President’s Fund. However, discussions also highlighted the fact that the living conditions of lottery sellers, who play a key role in generating revenue for these institutions, have remained largely unchanged. Accordingly, attention has been directed towards recognising their contribution and providing relief to ease their financial burden.
The proposal to introduce scholarships for school-going children of low-income lottery sellers through the President’s Fund was discussed in detail. Officials of both the National Lotteries Board and the Development Lotteries Board expressed their willingness to support the initiative. It was also decided that the programme would be implemented expeditiously through Divisional Secretariats.
Among those present were Chairman of the National Lotteries Board M. D. C. Anton Perera, General Manager of the National Lotteries Board A. M. Arif, and General Manager of the Development Lotteries Board W. K. A. A. Jayarathne, along with other officials.
(PMD)
Flood warning issued to low lying areas of the Kelani River valley
Landslide early warnings issued to the Districts of Gampaha, Kalutara and Ratnapura
President’s Fund to consider scholarships for children of low-income lottery sellers
Showers above 200 mm are likely at some places in the Western, Sabaragamuwa and North-western provinces and showers above 100 mm are likely at some places in Galle, Matara, Kandy and Nuwara-Eliya districts.
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