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COPF approves resolution for revising limits on Advance Accounts of ministries and depts.

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COPF Chairman MP Dr Harsha de Silva at the meeting

The Parliamentary Committee on Public Finance (COPF) has approved the resolution for the revision of the limits of several Advance Accounts of ministries and departments, including the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and Sri Lanka Customs.

The Parliament Media Division has said that the COPF approved the resolutions under Section 8 of the Appropriation Act No. 34 of 2023 to revise the limits of several ministries and departments for the year 2024.

Approval was granted at a recent meeting of the COPF held in Parliament this week (20 May), chaired by Opposition MP Harsha de Silva.

The revision of the limits of advance accounts of several Ministries and Departments for the year 2024 has already been set, and under the provisions of the Appropriation Act, the Minister of Finance is empowered to revise these limits of advance accounts by way of a Resolution based on emerging needs of the relevant year. Officials, in providing clarification on the proposed revisions, further stated that these revised limits must be presented to Parliament for approval.

Accordingly, advancing monies to be used in bribery detection as bribes –  Commission to Investigate Allegations of Bribery or Corruption, printing and publicly and sales of publications advance account – department of educational publications, stores advance account (explosive items) – Sri Lanka navy, prisons industrial and agricultural undertakings – departments of prisons, seized and forfeited goods advance account – Sri Lanka customs, miscellaneous advances – department of state accounts, railway stores advance account department of Sri Lanka railways,  stores advance account – government factory, government factory work done advance account – government factory, advances to public officers received the approval of the COPF.

Commenting on the advancing monies to be used in bribery detection as bribes, the CIABOC head stated that the COPF would extend full cooperation for any task undertaken to curb corruption.

Furthermore, during the Committee’s discussion on the advance account of Sri Lanka Customs, the officials were questioned on the importation of motor vehicles. The Chair inquired into the tax imposed on both registered and unregistered vehicles and whether the revenue from VAT on used and short-distance driven vehicles was being properly collected and whether such tax collection was equitable.

Officials informed the committee that there was a variation in taxes imposed on used, unregistered vehicles and those with zero mileage. The Chair pointed out that as the government expects substantial tax revenue from vehicle imports, the country was losing a significant amount of revenue under the present circumstances. Accordingly, the Chair instructed officials from the Sri Lanka Customs Department to submit a report to the Committee on the taxes collected from a sample of imported used vehicles.



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CEB engineers raise alarm over power sector stability

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A senior electrical engineers attached to the Ceylon Electricity Board (CEB) have warned that unresolved structural and policy issues within the power sector could threaten the long-term stability of the national grid, urging authorities to act swiftly to address mounting technical and administrative concerns.

Speaking on condition of anonymity, they said the electricity network was operating under increasing strain due to delayed infrastructure upgrades, financial constraints, and growing demand.

“The national grid is not something that can be managed casually. It requires systematic planning, preventive maintenance, and timely investment. If these are compromised, the risk to system stability increases,” the engineers said.

They noted that several transmission and substation modernisation projects were behind schedule, while ageing thermal plants continued to shoulder a significant portion of the country’s base load demand.

“Engineers are committed to ensuring an uninterrupted supply. But professional expertise must be respected in decision-making. Technical matters cannot be subjected to short-term political considerations,” the engineers added.

Meanwhile, the powerful Ceylon Electricity Board Engineers’ Union (CEBEU) echoed similar concerns, warning that failure to address long standing professional and structural issues could have serious consequences for the power sector.

In a statement, the CEBEU has said that engineers have repeatedly called for reforms that safeguard the integrity of the utility and ensure that operational decisions remain grounded in technical evaluation.

“The electricity sector is a critical national asset. Any attempt to weaken institutional safeguards or bypass professional consultation will directly impact service reliability and long-term sustainability,” the union said.

The CEBEU has stressed the importance of transparent engagement between policymakers and technical personnel, noting that morale among engineers could be affected if their concerns continue to go unheard.

Industry analysts point out that the power sector plays a central role in Sri Lanka’s economic recovery efforts, particularly as the country seeks to expand industrial activity and attract investment. Stability in electricity supply remains a key determinant of business confidence.

The senior engineer stressed d that the objective of raising concerns is not confrontation but preservation of the grid’s integrity.

“Our responsibility is to the public. Electricity powers hospitals, industries, and homes. Safeguarding the system is a national duty,” he said.

With tensions simmering within the sector, stakeholders say meaningful dialogue between authorities, engineers, and trade unions will be crucial in ensuring that Sri Lanka’s power infrastructure remains resilient in the face of growing challenges.

By Ifham Nizam

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CB identifies 24 pyramid scams in Sri Lanka

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The Central Bank (CBSL) yesterday announced that investigations had identified 24 companies and applications operating prohibited pyramid schemes.

In a public notice issued under Section 83C of the Banking Act, No. 30 of 1988 (as amended), the CBSL said the following entities had been “ascertained and determined as prohibited schemes”: Tiens Lanka Health Care (Pvt) Ltd, Best Life International (Pvt) Ltd, Mark–Wo International (Pvt) Ltd, V M L International (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd, Fast3Cycle International (Pvt) Ltd, Sport Chain App / Sport Chain ZS Society Sri Lanka, OnmaxDT, MTFE App / MTFE SL Group / MTFE Success Lanka / MTFE DSCC Group, Fastwin (Pvt) Ltd, Fruugo Online App / Fruugo Online (Pvt) Ltd, Ride to Three Freedom (Pvt) Ltd, Qnet / Questnet, Era Miracle (Pvt) Ltd and Genesis Business School, Ledger Block, Isimaga International (Pvt) Ltd, Beecoin App and Sunbird Foundation, Windex Trading, The Enrich Life (Pvt) Ltd, Smart Win Entrepreneur (Pvt) Ltd, Net Fore International (Pvt) Ltd / Netrrix, Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd, SGO / sgomine.com and I.C.A.N Advertising (Pvt) Ltd and its affiliates icanonlineadvertising.com, bannercuts.com, bannercuts.lk, bannercuts.net and bannercuts.org

The CBSL said pyramid schemes, also referred to as multi-level marketing or direct selling schemes in certain instances, operate as recruitment-based programmes in which members enlist others into an expanding “downline” structure resembling a chain letter.

Under such arrangements, a portion of the fees paid by new recruits is channelled upwards to earlier participants, known as the “upline”, who are fewer in number.

The Central Bank warned that such schemes are inherently unsustainable, with the vast majority of participants at the lower tiers eventually losing their investments, while only a small number of early entrants are able to recover or profit from the funds contributed by subsequent recruits. It noted that when a pyramid scheme collapses, up to 99 per cent of those in the lower levels risk losing their money.

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Church urges patience, warns against interference with Easter attacks probe

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Director of Communications for the Archdiocese of Colombo, Rev. Fr. Cyril Gamini Fernando, yesterday expressed confidence that ongoing investigations into the 2019 Easter Sunday terror attacks would yield meaningful results and urged the public and all stakeholders to exercise patience and allow the probe to proceed independently.

Addressing a media briefing in Colombo yesterday, Fr. Fernando called on all parties to refrain from interfering with the investigations, warning that any attempt to obstruct the process would amount to a grave injustice to the victims.

He said he believed there was credible evidence to warrant the arrest of military intelligence veteran Maj. Gen. (Retd.) Suresh Sallay.

Referring to the coordinated bombings on April 21, 2019, which targeted churches and hotels and claimed nearly 300 lives, Fr. Fernando described the attacks as a “barbaric” act and a “massacre” that killed worshippers attending Easter services as well as individuals from different religious and ethnic communities.

By Norman Palihawadane

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