News
President reveals talks with Country’s private creditors on outstanding debt
By Saman Indrajith
President Ranil Wickremesinghe told Parliament yesterday that negotiations were underway with Sri Lanka’s private creditors on debt restructuring with a case filed by one international sovereign bond (ISB) holder now in the process of being resolved.Responding to a query from MP Wimal Weerawansa, President Wickremesinghe said local private creditors had accepted the terms of the country’s ongoing talks with its multilateral and bilateral debt holders.
“There is one court case, which is now at a stage of being resolved. Once the bilateral debt has been discussed, we don’t think there will be a major issue with private credit,” the President said.
“The talks have now begun,” he added.
MP Weerawansa also demanded to know what would happen to Sri Lanka’s deal with the International Monetary Fund (IMF) for a USD 2.9 billion dollar extended fund facility EFF) if one of the bilateral lenders did not agree to debt restructuring.President Wickremesinghe: “We have discussed what happens if one country opposes or doesn’t agree. There are only two options: cut off debt, or extend the payback period by 10 to 20 years. One of those two options has to be discussed, and we can then arrange for one of them.”
Chief Opposition Whip Kandy District SJB MP Lakshman Kiriella asked the President if the IMF agreement would be tabled in parliament before the budget speech for 2023.
“The IMF says don’t release it till we finish this round of negotiations,” President Wickremesinghe said.
“Don’t worry. I won’t put anyone into trouble,” he added, smilingly.The President said the agreement had been signed, but the Paris Club member states and India and China had to agree.
“If there is a change, we’ll come back and tell you. But so far we don’t know what China and India have to say,” he said.
The Cabinet of Ministers has approved the proposal presented by the Minister of Transport, Highways, and Urban Development to award the contract for printing and supplying vehicle number plates for the Department of Motor Traffic for a period of five (5) years to M/s South Asian Technologies based on the recommendations of the High-Level Standing Procurement Committee and the Procurement Appeal Board.
The National Lotteries board has been established subject to the Finance Act No. 11 of 1963. Having identified the requirement of amending that act which was imposed around 62 years to cater the current requirements of the lottery market, the Cabinet of Mnisters at their meeting held on 14.02.2017 granted approval to draft a new bill for the purpose.
Accordingly, the National Lotteries Board has recognized further amendments to be performed to the fundamental draft bill prepared by the Legal Draftsmen.
Therefore, the Cabinet of Ministers granted approval for the
resolution furnished by the President in his office as the Minister of Finance, Planning and Economic Development to direct the Legal Draftsmen to finalize the formulation of the draft bill for the National Lotteries Board as soon as possible including the proposed new amendments as well.
The Werahara office of the Department of Motor Traffic performs issuance of temporary driving licenses in this country based on the driving licenses issued overseas, and measures have been initiated to render the service from a service window of the Department of Motor Traffic established at the Bandaranayake International Airport from 03.08.2025.
The fees charged for issuing temporary driving licenses have been published in Motor Vehicles (Driving License Levy) Regulations No. 3 of 2022 prepared under the provisions of the Motor Traffic (Authority 203) Act.
But, as the fee of Rupees 2,000/- charged for the service is not sufficient, the requirement of amending the regulations has been recognized.
The regulations for introducing the revised fees have been published in the government extraordinary gazette
notification No. 2463/04 dated 17.11.2025. Therefore, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Transport, Highways and Urban Development to
submit the regulations to the Parliament for its concurrence.
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M/s South Asian Technologies awarded contract to supply vehicle number plates
A new act for National Lotteries Board to be introduced
Motor Vehicles (Driving License Levy) Regulations No. 3 of 2022 to be amended
Mrs. P. K. L. S. Panduwawala appointed to the post of Surveyor General
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