News
President vows to make country first in world to end use of chemical fertilizers
President Gotabaya Rajapaksa, at a discussion held at the Presidential Secretariat Thursday morning (29) said that Sri Lanka would be the first in the world to eliminate the use of chemical fertilizers.
President Rajapaksa said they would not change the decision later and the farmers needed to be educated on the need to move away from toxic fertilisers and the potential of sustainable methods of agriculture.
The President said: “We need to raise public awareness of the ban on import of chemical fertilizers, pesticides and herbicides and their use. The people have a right to consume safe food. The National Policy Framework “Vistas of Prosperity and Splendour” also promised to accelerate the production of organic fertilizers in the next decade so that only organic fertilizer will be used in the agricultural field of Sri Lanka.”
Sri Lanka had spent USD 221 million in 2019 on chemical fertilizer imports, and with the rise in prices of oil, that cost would have increased to USD 300-400 million this year, the President said, pointing out that despite huge expenditure on chemical fertilizers, herbicides and pesticides, there had been no qualitative improvement in agricultural production.
“We see increasingly reduced yields as soil becomes increasingly infertile due to chemical fertilizer and the destruction of biodiversity. The use of chemical fertilizers and pesticides pollutes rivers and streams and poses a serious challenge to quality drinking water. The government expenditure on non-communicable diseases including kidney disease and cancer, is rising every year. The loss of livelihoods of the people living in rural areas, deteriorating health conditions and the declining of people’s productivity have become challenges the country is facing today.”
News
Amendment of the Inland Revenue Act No. 24 of 2017
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
News
Cabinet nod for “National Mineral Policy” – 2026
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
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