News
Raising Shakti 2023 dealer confab sets stage for agricultural innovation
In an ambitious move aimed at revolutionizing Sri Lanka’s agricultural sector, the Raising Shakti 2023 Dealer Conference was recently hosted by Indian agricultural machinery manufacturer Shaktiman at the picturesque Waters’ Edge in Battaramulla. The event gathered key partners, including industry giants Hayleys Agriculture, Overseas Automotive Private Limited, DSL Holdings, and AMW, for a comprehensive agenda designed to reshape the agricultural landscape of the nation.
With a focus on technological advancement and prosperity, the conference spotlighted the progressive vision of Tirth Agro Technology Private Limited, the driving force behind Shaktiman. With an impressive legacy spanning over two decades, Tirth Agro Technology has been a trailblazer in mechanizing Indian agriculture. Their extensive network, comprising 850 dealers, 64 distributors, and 105 spare parts distributors across India, underscores Shaktiman’s standing as an agricultural powerhouse.
Shaktiman’s impact has not been confined to Indian shores alone. Over the past decade, the company has made substantial contributions to the mechanization of Sri Lanka’s agriculture, maintaining a consistent leadership position for over five years. The conference highlighted Shaktiman’s unwavering commitment to innovation, exemplified by their groundbreaking products. Among these innovations, the Sugar Cane Harvester 3737-Tejas stands out as a game-changer, along with the ingenious Paddy Transplanter.
The event was characterized by insightful presentations from Shaktiman’s management team, showcasing a range of innovative products that promise to reshape traditional agricultural practices. The conference also served as a platform for networking and collaboration among esteemed partners, fostering an environment of knowledge exchange and shared vision.
In a press release issued by the conference organizers, the aspirations of Shaktiman and Tirth Agro Technology were succinctly summarized: to lead Sri Lanka towards a future where agriculture thrives on the foundation of cutting-edge technology, and prosperity flourishes through sustainable practices. The Raising Shakti 2023 Dealer Conference, with its focus on innovation, collaboration, and progress, has undoubtedly set the stage for a new era of agricultural advancement in Sri Lanka.
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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