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Aim to end bulk rubber exports by creating value addition industries locally
The contribution of the rubber industry to the national economy would be enhanced by establishing rubber-related industries throughout the country, Company Estate Reforms, Tea and Rubber Estates Related Crops Cultivation and Factories Modernization and Tea and Rubber Export Promotion State Minister Kanaka Herath said recently.
The Minister was addressing the inaugural ceremony of the National Entrepreneurship Programme for the Establishment of New Rubber Related Industries. The National Programme commenced from the Kegalle District and it is planned to establish 100 new Rubber-Related Industries in the Kegalle District alone.
This programme is jointly implemented by the Industrial Development Board (IDB) in collaboration with the Rubber Development Department and the Rubber Secretariat under the supervision of the State Ministry of Plantations. It is proposed to implement such programmes especially in the rubber growing districts, which will provide the entrepreneurs aspiring to enter the rubber-related manufacturing sector with the knowledge, attitude, technical aspects, know-how and all aspects, including financing as well.
Besides, those budding entrepreneurs will be assisted to overcome the burning issue of fulfilling the initial capital jointly by the State Ministry and banks.
Under this move the State Ministry provides those new entrepreneurs with a non-refundable financial assistance to meet the start-up costs of the business. In addition, the IDB provides them with the necessary technical knowledge.
Although our country is a high quality rubber producer in the world, the output is often exported as a raw material without adding value. However, the State Minister pointed out that more foreign exchange could be earned by setting up local rubber-related industries so as to add value to the local rubber production and turning it into a finished product instead of exporting it as a raw material.
The Minister said that on an average, about 600 rubber parts were used in a car and the primary goal was to manufacture at least a few of them in the country as a starting point. Apart from the automotive industry, there was already a very good market for rubber-related products in many fields including sports, medical, naval, defence, transportation and many more. He noted that local manufacturers could have vast opportunity to reap greater benefits from entering the export market.
Parallel to the programme, a study would be carried out on rubber products imported into the country and some of them will be manufactured locally. Plans were afoot to manufacture other rubber products in the country by gradually uplifting the rubber related industries and in the final stage of this process it is planned to manufacture all the imported rubber related products locally, State Minister Herath said.
“We look forward to enlisting of small and medium scale local industrialists in the process,” he said.
State Minister Herath emphasised a country had to have a production economy to achieve economic prosperity. He noted that greater economic benefits could be achieved through the addition of value to local raw materials.
Tilakaratne Banda, Secretary to the State Ministry said that the main objective of the programme was to implement a significant number of new entrepreneurs in the rubber-related industry especially through the eight rubber growing districts.
Only an average of 50 per cent of the rubber based products used in our country were produced locally and accordingly there was a huge trade gap for rubber production in the local market as well. Therefore, it would not be a challenging task for a local manufacturer to enter the rubber based manufacturing sector and win the market, the Minister said.
News
Elders’ home devastated by fire was a ‘house of horror’: Witnesses
Death toll rises to 12: Director remanded
Some residents were allegedly chained
Police have come under public pressure to investigate allegations of inhumane treatmenf the residents at an elders’ home in Batagoda, which was also reportedly used as a care centre for persons with special needs, following a devastating fire that has so far claimed 12 lives.
Eyewitnesses who were among the first responders told the media that several residents had been chained inside rooms at the Senehase Kedella Elders’ Home when the fire broke out on Wednesday. They claimed that rescue efforts were hindered as iron chains could not be removed, and that some residents died while being restrained.
Authorities have not yet verified these claims, and Police said investigations are continuing.
Police spokesman ASP F.U. Wootler, contacted for comment, said there were rumours to that effect, but the Police were not in a position to verify the claims until a report from the Government Analyst was received. He said eight survivors with burn injuries were being treated in hospital.
Meanwhile, the Director of the facility had been arrested and was due to be produced before the Horana Magistrate’s Court, Police said adding that he was remanded till June 11.
The death toll from the fire has risen to 12 as of Thursday morning following the recovery of additional charred remains during ongoing forensic examinations at the site. Six others sustained serious injuries and are being treated at the Horana Base Hospital.
Police said 72 residents were inside the facility at the time of the blaze. Of them, 10 died inside the building, seven were injured and hospitalised, while 51 were rescued and relocated.
Survivors were initially housed at Batagoda Junior School before being transferred with Army assistance to another branch of the same care network in Galpatha.
A magisterial inquiry was conducted on Thursday morning. Horana Magistrate Lakmini Vidanagamage visited the scene. The burnt remains were examined and removed under judicial supervision.
Separately, allegations have emerged that residents were required to pay an admission fee of Rs. 75,000, along with a monthly charge of Rs. 35,000 to the centre. Police have not commented on these claims.
The director was taken to the scene as part of ongoing investigations, while forensic experts continue examinations to determine the cause of the fire, which remains undetermined.Anguruwatota Police are conducting investigations.
By Norman Palihawadane and Nishan S Priyantha
News
CERT : AI-generated videos depicting Prez, PM lure public into financial scams
Sri Lanka CERT has issued a public warning over the circulation of artificial intelligence (AI)-generated videos falsely depicting President Anura Kumara Dissanayake, Prime Minister Harini Amarasuriya and several other prominent personalities to promote fraudulent investment schemes online.
According to complaints received by the national cyber security agency, the videos have been created using deepfake technology and are being used as part of attempts to defraud members of the public through financial scams.
The images of famous sports personalities and other public figures have also been misused in the deceptive content.
The agency has warned that similar AI-generated material has been used to spread false information relating to investment opportunities, employment offers, as well as matters concerning the country’s economy and tax policies.
According to Sri Lanka CERT, the videos are being widely shared across online platforms and frequently contain links urging viewers to make investments in return for purported profits.The agency has cautioned that these links may redirect users to fraudulent websites designed to steal personal information, financial data and money from unsuspecting victims.
Sri Lanka CERT has urged the public to exercise extreme caution when encountering such content online and advised against clicking on suspicious links or sharing personal information through unverified websites.
“The public should remain vigilant and avoid becoming victims of false information and online fraud schemes,” the agency said.
Sri Lanka CERT has also encouraged internet users to verify information through official sources before acting on any investment, employment or financial offers circulated via social media or other online platforms.
News
New tax law comes into force
Speaker Dr Jagath Wickramaratne on Wednesday endorsed the certificate on the Inland Revenue (Amendment) Bill, bringing the legislation into force as the Inland Revenue (Amendment) Act, No. 11 of 2026, Parliament sources said.
The Bill, which amends the Inland Revenue Act, No. 24 of 2017, was passed by Parliament on May 19.
The new law introduces a series of reforms aimed at modernising tax administration procedures, improving compliance and enforcement mechanisms, enhancing the accuracy of tax calculations and deductions, and strengthening transparency within the tax system.
The amendments also support broader economic policy objectives and include measures designed to reinforce anti-money laundering safeguards.Among the key provisions of the Act is the mandatory use of Taxpayer Identification Number (TIN) certificates for specified high-value financial transactions.
The legislation also introduces revisions to the calculation of taxable income, clarifies tax exemptions applicable to certain projects and business entities, and expands the scope for information disclosure to relevant authorities.
The amendments are expected to improve the efficiency of tax administration while facilitating greater accountability and regulatory oversight.With the Speaker’s endorsement of the certificate, the Inland Revenue (Amendment) Bill has now become law as the Inland Revenue (Amendment) Act, No. 11 of 2026.
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