News
Sajith questions contradictory stands taken by Treasury and CB on USD 2.5 mn theft
Opposition and SJB Leader Sajith Premadasa yesterday (09) called on the Government to immediately table in Parliament the Treasury report on the alleged USD 2.5 million financial loss.
Addressing the House, Premadasa said contradictory positions taken by the Central Bank and the Treasury had triggered what he described as a serious crisis in economic policy coherence, undermining the consistency required for effective fiscal and monetary management.
He warned that such divergences in official positions were weakening confidence at a time when both fiscal and monetary frameworks required clarity, coordination and predictability.
The Opposition Leader also urged the government to present a comprehensive policy framework on fiscal and monetary management, including the instruments in use, their respective targets, and the institutions tasked with implementation.
Premadasa further called for disclosure of the extent to which agreements with multilateral lenders and development partners, including the International Monetary Fund (IMF), World Bank and Asian Development Bank, have influenced domestic policy decisions, particularly in relation to primary balance and revenue targets.
Drawing attention to the cost-of-living burden, he questioned the Government’s claim that Rs. 17,000 was sufficient for an individual to meet monthly living expenses, asking whether such an amount could realistically cover both food and non-food requirements.
He also sought details of measures taken to alleviate economic pressure on the middle class, professionals, small and medium enterprises, farmers, fishermen and low-income groups, who, he said, continue to be affected by high taxation, expenditure constraints and elevated interest rates.
Premadasa stressed the need to strengthen parliamentary oversight and enhance public accountability in the formulation and implementation of fiscal and monetary policy.
by Saman Indrajith
News
Formulation of a Draft Economic Development Bill to expedite the process of Digital Transformation and Digital Economic Development
It is essential to establish an institutional framework with legal powers to ensure the effective implementation of national digital policy and guidelines.
Quality human capital should be attracted to this institutional framework for the compilation of policies, implementation of policies, regulation, and empowerment of operations. The continuous participation of the private sector should also be considered in establishing a strong institutional framework.
It has been further identified that attention should also be
drawn to new fields of digital innovation, including support for artificial intelligence and related activities.
Taking into consideration the aforementioned matters, a concept paper has been formulated to prepare a Draft Economic Development Bill for the establishment of a new institutional framework.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President in his capacity as the Minister of Digital Economy to instruct legal draftsman to formulate a Draft Economic Development Bill based on the aforementioned concept paper.
Latest News
Cabinet approval for Sri Lanka Community and Health Survey – 2026/2027
The Sri Lanka Community and Health Survey is the main data source for obtaining necessary information for reviewing progress toward achieving the national health development goals, as well as the expected sustainable development goals by 2030.
The last survey was conducted in the year 2016, and the Sri Lanka Community and Health Survey should be conducted to obtain updated data to enable the collection of related data and indicators concerning the health and well-being targets of the Global Sustainable Development Objectives.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning, and Economic Development to take necessary steps to conduct the aforementioned survey.
News
A National Water Tariff Policy for all Water Supply and Sanitation Services
The access to secure, reliable and affordable drinking water and adequate sanitation facilities is essential to maintain public health, promote social well-being and foster economic development.
The Sri Lankan Government recognizes water supply and sanitation services as both an economic good and a basic human need. Therefore, when pricing for water and sanitation, a balance should be maintained between the financial sustainability of the service providers and the requirement to ensure fair and affordable access for all strata in the society.
Accordingly, the Sri Lankan government has identified the necessity of a national water supply that is sensitive to gender equality and social integration applicable to all water supply and sanitation service providers. At present, there is no formal national framework for setting, reviewing, approving, and implementing tariffs for water supply systems operated by various water supply providers as well as for setting, reviewing, approving, and implementing tariffs for sanitation systems.
Therefore, the Ministry of Housing, Construction, and Water Supply has formulated a water tariff policy covering all water supply service providers under the Sri Lanka Water Supply and Sanitation Sector Reform Program, which is a policy-based loan program implemented under Asian Development Bank funds.
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