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CoPF finds fault with Finance Ministry, AG for missed deadlines

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“Proposed ‘Gambling Regulatory Authority’ law inadequate”

The Committee on Public Finance (CoPF) has said the proposed Gambling Regulatory Authority (GRA) law will not be adequate to meet the challenging task of overseeing the thriving casino industry.In spite of discussions held since Nov., 2022 when the CoPF formally called for the establishment of dedicated GRA, the relevant stakeholders hadn’t been able to reach a consensus, political sources told The Island.

When The Island sought a clarification from CoPF Chairman and SJB MP Dr. Harsha de Silva yesterday (10), he emphasised that the parliamentary committee on several occasions had urged the previous government (Wickremesinghe-Rajapaksa arrangement) and the incumbent National People’s Power (NPP) government to secure expert advice from jurisdictions that run well-regulated casinos, like Singapore, they weren’t interested.

The CoPF Chairman said that the issue at hand had attracted fresh attention in the wake of the opening of the country’s first integrated resort City of Dreams, an 800-room hotel that housed what the operators called a world class gaming area with license to operate for 20 years.

John Keells Holdings (JKH) has teamed up with Melco Resorts & Entertainment Limited (“Melco”) developer, owner and operator of integrated resort facilities in Asia and Europe. President Anura Kumara Dissanayake opened the facility on August 2 that received approval from the Finance Ministry during Ranil Wickremesinghe’s tenure as the President and Finance Minister. NPP and JVP leader Dissanayake currently holds the Finance portfolio.

The CoPF relentlessly pushed the Finance Ministry to finance the process by September 2023 and then by March 31, 2024.

The Wickremesinghe-Rajapaksa government granted approval for the JKH-Melco project though CoPF on Nov 24, 2022 declared that no new licenses would be issued until the formulation of GRA. Sources said that this announcement was made when CoPF considered two extraordinary gazette notifications on casinos but weren’t approved.

Sources alleged that the Finance Ministry pathetically failed to adhere to decisions taken by CoPF to ensure the speedy finalisation of the process to ensure the setting up of GRA in line with international standards. However, for want of the required commitment of the Finance Ministry, the CoPF couldn’t achieve what it wanted to.

CoPF has expressed serious concern over the issuance of what it called an unduly long 20-year casinos license to JKH-Melco operation.

At the moment, the lucrative casino industry here operates under an outdated and fragmented legal and

regulatory framework, primarily governed by: (i) Casino Business (Regulation) Act, No. 17 of 2010 and (ii) Betting and Gaming Levy Act, No. 40 of 1988.

Regardless of the enactment of the 2010 legislation, the corresponding regulations for licensing and designated operational areas hadn’t been issued for over a decade, those who represented CoPF have pointed out.

Bally’s, Bellagio, Casino Marina, and Stardust currently operate under provisional registrations, all of whom registered within a five-month window in 2013, sources said. According to sources regardless of promises to increase revenue by taxing casinos, Sri Lanka lacked the required tools to monitor the industry’s financial operations, including online platforms.

According to the CoPF and Finance Ministry, there had been undue delays on the part of the Attorney General in examining the GRA Bill. Sources pointed out that the AG’s Department had taken as many as 15 months to review the Bill and all stakeholders needed to discuss ways and means of avoiding such delays in finalising critically important Bills.

by Shamindra Ferdinando ✍️



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Former first lady Shiranthi Rajapaksa arrested by CIABOC

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Former first lady Shiranthi Rajapaksa, wife of former President Mahinda Rajapaksa was  produced before the Hulftsdorp court, after  being  arrested by officers of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and produce

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U.S. Navy ship USS Tulsa arrives in Colombo for replenishment visit

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The U.S. Navy ship USS Tulsa (LCS 16) arrived at the Port of Colombo this morning, 7 October 2026 for replenishment purposes.

The visiting ship was welcomed by the Sri Lanka Navy in accordance with naval traditions.

The 127.7-metre-long platform is a Littoral Combat Ship commanded by Commander BM Wanier. Commissioned on 16 February 2019, USS Tulsa has since been in service with the US Navy.

The ship previously made a port call in Sri Lanka on 27 August 2025.

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Fuel crunch looms

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Govt. tells fuel distributors to maintain stocks to ensure uninterrupted supplies

by Saman Indrajith and Norman Palihawadane

The government had instructed private fuel distributors to maintain minimum stocks and ensure uninterrupted supplies to the market, Energy Minister Anura Karunathilaka told Parliament yesterday (06).

Karunathilaka said the Ministry of Energy Secretary had notified the relevant companies of the requirement, following a reduction in supplies by some private distributors, amid higher international fuel prices.

The Minister said private companies had informed the government that they were facing losses because international prices had risen while fuel was being sold, locally, at prevailing prices. As a result, some companies had reduced the volumes released to the market.

The reduced supplies had increased the burden on the Ceylon Petroleum Corporation (CPC), whose share of the diesel market had risen from about 54% to 82%, the Minister said.

“The CPC currently holds an 82% share of the market,” he said, adding that it had increased its supplies, compared with February, to compensate for the reduction by private distributors.

Karunathilaka said the government could not, under the existing agreements with private companies, specify the quantities they should supply to individual filling stations. However, it could require them to maintain minimum stocks in the country.

The Minister said the Energy Ministry had already instructed companies that had failed to maintain the required stocks to take steps to prevent supply disruptions.

The Minister attributed the queues reported at some filling stations to reduced supplies from private distributors, as well as normal variations in fuel distribution. He also said demand for CPC fuel had increased because private companies generally did not provide fuel to dealers on credit, while the CPC offered a three-day credit facility.

“We expect that, as the Ceylon Petroleum Corporation takes on this additional burden, the problem will ease to some extent by Wednesday or Thursday,” Karunathilaka said.

He said instructions had also been issued to increase supplies to CPC filling stations. A special discussion on the issue is scheduled for today (07), with officials of the Energy Ministry and CPC expected to participate,

along with President Anura Kumara Dissanayake.

Meanwhile, Petroleum Dealers’ Association officials have called for an early solution to the supply issue. Association Chairman D.V. Shantha Silva said queues had been reported at many filling stations, mainly those operated by private distributors.

He said the situation was not due to an overall shortage of fuel, but was linked to reduced orders by Lanka IOC, Sinopec and R.M. Parks amid concerns over losses incurred on fuel sales.

The Ceylon Petroleum Private Tanker Owners Association has urged motorists to refrain from panic buying, saying there was no nationwide disruption to fuel supplies.

The government earlier increased fuel prices and introduced a per-litre diesel subsidy following concerns raised by distributors over rising international prices.

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