News
Nano-nitrogen deal: Opposition calls for probe
The allegations of underhand payments in importing nano-nitrogen liquid fertilizer and in government depositing USD 1.275 million to an account of a private company as payment violating the due process should be probed, says Chief Opposition Whip Kandy District MP Lakshman Kiriella.
Speaking to journalists when he made a visit on Saturday to inspect alleged damage the Kandy Children Park has suffered due to the expansion of Getambe Roundabout, the Chief Opposition Whip said there were some who engaged in farming for hobby. Those engaged in farming as a hobby is a very insignificant number compared to the number of those engaged in agriculture as their livelihood. Now, those who are engaged in farming for leisure are making various statements about fertilizer problems and those statements ridicule the farming community. Importing fertilizer has been in practice for decades. Ministers have never been to the port or the airport to receive them. When the stock of nano-nitrogen fertilizer was brought down a minister went to receive it. That action corroborates the allegation that there were secret dealings in this affair. Further to that due process has not been followed in depositing a sum of USD 1.275 to a private company set up within 24 hours.
The Treasury had requested the People’s Bank to release USD 1.275 million as payment for nitrogen fertiliser, on Oct 18. Although the due process for this type of transaction was to make payments from the accounts maintained by the Ceylon Fertiliser Company Ltd., the government had ordered the People’s Bank to open a separate private account at its Town Hall Branch under the name ‘United Farmers Trust Limited’ on 18 Oct., and funds were transferred to a private company account to the tune of USD 1.275 million or Rs. 290 million.
Parliament had not been informed of the matter, the Chief Opposition Whip said.
He said that the Kandy Children Park had been constructed on a request he made to the then President Chandrika Kumaratunga to mark the 50th anniversary of Independence. “I made inquiries from Highways Minister Johnston Fernando in this regard. The minister promised that ongoing constructions would not harm the park. I spoke to the construction company and they too told me that they would re-construct the park once their roundabout widening project is completed,” MP Kiriella said.
News
Amendment of the Inland Revenue Act No. 24 of 2017
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
News
Cabinet nod for “National Mineral Policy” – 2026
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
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