News
Mangala launches new initiative to rally masses against SLPP
…..Radical Centre claims to follow centrist path
By Shamindra Ferdinando
Former Finance Minister Mangala Samaraweera, who quit the 2020 parliamentary election in the second week of June, will launch a programme today (6) to protect, what a close associate of his called democratic gains made during the yahapalana administration.
Samaraweera will launch social media-based campaigns, in stages, beginning 10 am. The former minister’s aide told The Island that the carefully arranged project aimed to sustain post-war reconciliation efforts launched in the wake of the change of government in January 2015.
In spite of quitting the contest, Samaraweera yesterday exercised his franchise in Matara.
Samaraweera led the Matara District Samagi Jana Balavegaya (SJB) nominations list. There had never been a previous instance of a senior politician quitting the contest having accepted nominations.
Samaraweera served as foreign and finance ministers alternatively during the previous administration.
Responding to another query, the aide said that the launch of the project coincided with the commencement of the counting of the ballot papers. “The former minister will issue a statement around noon, about two hours after the issuance of new movement’s first statement,” the aide said.
As part of the overall measures in place to neutralize continuing threat posed by the coronavirus, the Election Commission did away with overnight counting. Counting of ballot papers will commence today (Thursday) at 7 am.
Asked whether Samaraweera’s project was aimed at challenging the new government of President Gotabaya Rajapaksa, the aide emphasized it certainly was not the intention.
The former minister, in spite of giving up parliamentary politics was however determined to pursue his political objectives, the aide said, adding that he would closely work with those elected to the new parliament.
The new civil society initiative undertaken by some of those who backed the yahapalana administration was unveiled at an event held at the New Town Hall on July 8. Samaraweera participated in the event though he did not address the gathering.
The grouping styled itself as ‘Freedom: People’s Collective’ vowed to do whatever it took to thwart the Sri Lanka Podujana Peramuna (SLPP) plan to do away with the 19th Amendment to the Constitution. Jaffna District candidate M.A. Sumanthiran PC represented the Tamil National Alliance (TNA).
Minister Samaraweerra, in a statement under the theme ‘an agenda for true patriots’ issued via a new set up called ‘The Radical Centre’ stated: ‘The ‘Radical Centre’ entails the creation of a centrist middle way where dissenting voices and opinions from every part of the political spectrum would have a place within a democratic framework of decentralized governance. It is a system where diversity in all its manifestations is celebrated; the years of deep mistrust between the different communities must lose its sting within a non-violent, democratic framework where pluralism and secularism flourish. The radical centre should show the intolerant that those they hate are in fact, quite similar to them and have the same dreams and aspirations as well as the same fears and concerns as human beings. The radical centre should be the point where all Sri Lankans can discover their common humanity going beyond the boundaries of race, creed and caste.”
Declaring that democracy, in spite of all its shortcomings remains the best system of governance as we move towards the second quarter of the 21st century, Samaraweera emphasized that an urgent re-commitment to democracy has become the need of the hour as Sri Lanka hurls towards an autocracy with the rapid convergence of the executive, the military and the clergy; the legislature and the judiciary are being turned into mere rubber seals of the executive President.
Commenting on the growing threat posed by narcotics, the former minister said that stringent new laws were required to curb the menace. Samaraweera said: “Many of the big time drug barons have the highest political patronage and drug money is being laundered into the mainstream, formal economy through casinos, stock market, media institutions et al. In the fight against drug abuse, only addicts and low level dealers are brought to book. Stringent new legislation is needed urgently to curb this menace. A three pronged war against extremism and drug abuse is the need of the hour while special rehabilitation programmes must be introduced to treat the addicted youth.”
News
Report on the Final Budgetary Condition (Annual Report) – 2025 submited to parliament
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.
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