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Ravi: Outdated regulations hindering tourism inflows, digital services, SME-led exports

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National Democratic Front MP Ravi Karunanayake yesterday (08) urged the Government to modernise Sri Lanka’s foreign exchange and payment systems, warning that outdated regulations were hindering tourism inflows, digital services and SME-led exports.

Raising the issue in a special statement in Parliament, Karunanayake said Sri Lanka was attempting to rebuild its external sector, through tourism and digital entrepreneurship, but there was a “significant mismatch” between evolving global payment practices and the country’s foreign exchange framework.

Full text of the statement:

“Sri Lanka is striving to rebuild its external sector through tourism inflows, digital services and SME-led exports.

However, there appears to be a significant mismatch between evolving global payment practices and the Country’s foreign exchange and payments framework.

Despite increasing tourist arrivals and the rapid rise of digital entrepreneurship among Sri Lankan youth, restrictions and inefficiencies in currency acceptance, payment platforms and exchange mechanisms continue to hinder inflows, distort markets and impose undue costs on citizens and businesses. In order to modernise Sri Lanka’s foreign exchange ecosystem and support emerging sectors, I ask the Minister of Finance the following:

1) What are the officially recognised and accepted “hard currencies” in Sri Lanka for transactions, settlements, and reserves and what criteria are used to determine such classification?

2) Given the significant inflow of Tourists, why has the Government not operationalised or encouraged the acceptance of currencies such as the Russian Ruble, Indian Rupee, Chinese Yuan and Japanese Yen for domestic transactions through banks, hotels and digital payment systems?

3) What are Central Bank, policy, regulatory or operational constraints that prevent the wider use of these currencies in both cash transactions and card-based payments within Sri Lanka?

4) Why is there a substantial spread between the buying and selling rates of foreign currencies offered by banks and financial institutions? What oversight mechanisms are in place to ensure that such spreads are fair and not exploitative to consumers and businesses?

5) Advice total profits earned by licensed Banks and Central Bank from foreign exchange transactions with the Government and the public during the years 2023, 2024 and 2025 to date?

6) Why are globally recognised digital payment platforms such as PayPal, Wise and Skrill not fully enabled or interoperable in Sri Lanka for receiving export proceeds, freelance income and service payments?

7) What steps has the Government taken to facilitate seamless inward remittances and digital payments for SriLankan freelancers, startups and SMEs engaged in cross-border trade in services?

8) While digital currencies are not legally recognised, it is widely reported that cryptocurrency transactions continue to take place outside the formal financial system; What measures are being taken to regulate, monitor and bring such activities within the tax net?”

The government asked for two weeks’ time to respond to MP Karunanayke’s questions.

By Saman Indrajith



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“Let’s move forward together in unity to build a country where all labour is valued, rights are protected, and equality prevails” -PM

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Prime Minister Dr Harini   Amarasuriya in her May Day message called upon the working people in Sri Lanka to move forward together in unity to build a country where all labour is valued, rights are protected, and equality prevails.

The full text of the PM’s message:

The history of the Sri Lankan labour movement is a remarkable journey, shaped over decades by the blood, sweat, and sacrifices made in the pursuit of rights, justice, and dignity.

Beginning with the printers’ strike of 1893, the working people of this country emerged as an organised force. Through the trade union movement led by A. E. Goonesinha and the emergence of the Lanka Sama Samaja Party, the voice of labour gained political strength. The Railway Workers’ Strike of 1923 and the public service strike of 1947 reaffirmed that the true ’driving force’ behind the country’s economic and social transformation was its working people. I respectfully acknowledge the invaluable contributions of workers in the plantation sector, ports, railways, and across both the public and private sectors, whose dedication laid the foundation for many of the labour rights we benefit from today.

As we commemorate International Workers’ Day with dignity once again, we pay tribute to all working people across the world, including the heroic workers who sacrificed their lives in the struggle for an eight-hour workday in Chicago in 1886. This year’s May Day holds special significance as it is being celebrated under a government built through the power of the people, in honour of the entire working community of Sri Lanka.

Granting due respect to labour and safeguarding the rights of all working people are core policy commitments of our government. Accordingly, we remain dedicated to creating a fair and safe working environment by expanding existing services and implementing new programmes aimed at improving the living standards of working people.

Ensuring fair and equal access for all citizens is a fundamental objective of the government. Following that, it is our responsibility to create an environment in which everyone can lead a dignified professional life. Establishing a national social protection system that recognises unpaid labour and guarantees social security for unpaid labours is among the foremost priorities of our government.

On this May Day, we must reaffirm the importance of moving forward together in unity to build a country where all labour is valued, rights are protected, and equality prevails. With the strength and dedication of all working people, may we soon achieve the vision we all share: “A Thriving Nation – A Beautiful Life

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Heat Index at Caution Level at some places in the Northern, North-central, Eastern, Sabaragamuwa and North-western provinces and in Monaragala district during the day time

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 30 April 2026, valid for 01 May 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, Eastern, Sabaragamuwa, and  North-western provinces and in Monaragala district during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.


Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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USD 2.5 mn fraud probe: Interdicted MoF official found dead at home

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An Assistant Director of the External Resources Department (ERD) of the Ministry of Finance, interdicted pending an investigation into the diversion of US$2.5 million in Treasury funds to a rogue account was found dead at his residence in Kuliyapitiya.

The deceased has been identified as Ranga Nishantha, 50.

Police said the officer had been found in the garden of his house and they believed that the officila had committed suicide. However, investigators have not ruled out other possibilities, and inquiries are continuing.

The official was interdicted along with three other senior Finance Ministry officials over a cyber-enabled financial fraud.

Those interdicted include a Director and an Assistant Director from the ERD, as well as a Director and an Additional Director General from the Public Debt Management Office (PDMO).

Police sources said that the CID had on two occasions asked Nishantha to make a statement in connection with the ongoing investigation, but he had failed to comply.

Police said the CID probe into the alleged cyber fraud is continuing, with investigators examining the circumstances surrounding the diversion of funds through compromised communication channels.Kuliyapitiya Police said further investigations were underway to establish the exact cause of death.

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