News
Explosion of credit to private sector this year at low interest to ensure economic recovery – CB
A record Rs. 850 billion worth of credit would be given to the private sector by the Banks in 2021, CBSL’s Director of Economic Research Dr. Chandranath Amarasekera told the media yesterday.
The increase in the Private sector credit growth would be due to low interest rates, introduction of loan targets for selected segments of the SME sector and the increase in demand for credit as investor confidence booms, Dr. Amarasekera said.
CBSL had already commenced a dialogue with banks to iron out issues that might arise, he said.
Dr. Amarasekera said that the Standing Deposit Facility Rate will remain at 4.5% and the Standing Lending Facility Rate will remain at 5.5%. The Monetary Board decided to keep the policy interest rates unchanged considering the global and local situation, he said.
The Board also decided to keep interest rates low until the economy showed a sustainable recovery, Dr. Amarasekera said.
News
Establishment of an Institutional Framework to Inagurate Upper Hydro Catchment Areas Management Authority
Policy approval of the Cabinet of Ministers was granted at their meeting held on 08.06.2026 to establish the Upper Hydro Catchment Areas Management Authority for identification and
execution of a formal and long – lasting remedy to secure the central hills including the upper hydro catchment areas enabling them to sustain amidst extreme weather conditions
due to natural calamities and human activities as well as to be used for the sustainable development of the country.
Accordingly, a concept paper has been prepared including
institutional structure, activities, powers, active subject area as well as administrative and coordination mechanism for the proposed authority by an expert technical committee appointed by the Secretary to the President.
Based on the said concept paper, the Cabinet of Ministers granted approval to the resolution furnished by the President to instruct the Legal Draftsman to prepare a draft bill including legal provisions required for the establishment of Upper Hydro Catchment Areas Management Authority.
News
Introduction of Flora and Fauna (Regulation of actions of the Indigenous Community within the nominated areas) Regulations
With the objective of securing the traditional livelihood and the eco system of the indigenous community, it has been recognized the necessity of introducing a formal regulation methodology to secure their engagement in livelihood activities by being more sensitive to the existing laws.
Thereby, the Fauna and Flora (regularizing) regulations under the Fauna and Flora Protection Ordinance (Authority 469) have been prepared so that nominated activities within the prescribed area to a member of the indigenous community
who has been registered for securing the rights acquired from law or custom or usage or traditional stance to execute an act within a certain state land that is fundamental to the survival of the indigenous community permission can be granted
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Environment to publish the said regulations in the government gazette notification and thereby submit to the Parliament for its concurrence.
Latest News
M. M. D. J. Senarathne, appointed Director General of the Department of National Botanical Gardens
The Cabinet of Ministers approved the resolution furnished by the Minister of Environment to appoint M. M. D. J. Senarathne, who is the senior most officer in Grade I of Sri Lanka Scientific Service se
Establishment of an Institutional Framework to Inagurate Upper Hydro Catchment Areas Management Authority
Introduction of Flora and Fauna (Regulation of actions of the Indigenous Community within the nominated areas) Regulations
M. M. D. J. Senarathne, appointed Director General of the Department of National Botanical Gardens
Harmanpreet Kaur steps down as India captain
Turkiye, Pakistan agree Saudi Arabia military deployment under Mecca pact
Rumesh Tharanga among nominees announced for World Athlete of the Year 2026
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