Presidential pardon for 622 prisoners today

Published

2 months ago

2023/02/4

Priyan

(pic courtsey Divaina)

Six Hundred and Twenty Two (622) prisoners were released this morning (4th) on receiving a Presidential pardon in lieu of Sri Lanka’s 75th Independence day.

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Property tax to be replaced with Wealth Tax, Gift Tax and Estate Tax – President

Published

4 days ago

2023/03/22

Priyan

President Ranil Wickremasinghe while tabling the IMF agreement in Parliament today (22) in his capacity as the Minister of Finance said that he would introduce Wealth Tax, Gift Tax and Estate Tax in lieu of the existing Property tax.

Breaking News

Two dead after quake rattles Pakistan, Afghanistan, India

Published

5 days ago

2023/03/22

Priyan

Aljazeera reported that a magnitude 6.5 earthquake has rattled Afghanistan and northern Pakistan, and tremors were felt as far away as India.

The quake epicentre is 40km (25 miles) south-southeast of the Afghan town of Jurm, near the borders with Pakistan and Tajikistan, according to the United States Geological Survey.

Rezcue officials have confirmed that two persons had died in Pakistan’s Khyber Pakhtunkhwa province.

Breaking News

SRI LANKA RECEIVES IMF EXECUTIVE BOARD APPROVAL FOR THE EXTENDED FUND FACILITY (EFF) ARRANGEMENT

Published

6 days ago

2023/03/21

Priyan

The International Monetary Fund (IMF) has announced that the IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF). The program will allow Sri Lanka to access financing of up to US$ 7 billion from the IMF, International Financial Institutions (IFIs) and multilateral organizations.

This is a historic milestone for the country as the Government seeks to restore macroeconomic stability and achieve debt sustainability. Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan. The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.