News

Ravi: Outdated regulations hindering tourism inflows, digital services, SME-led exports

Published

7 days ago

2026/04/9

National Democratic Front MP Ravi Karunanayake yesterday (08) urged the Government to modernise Sri Lanka’s foreign exchange and payment systems, warning that outdated regulations were hindering tourism inflows, digital services and SME-led exports.

Raising the issue in a special statement in Parliament, Karunanayake said Sri Lanka was attempting to rebuild its external sector, through tourism and digital entrepreneurship, but there was a “significant mismatch” between evolving global payment practices and the country’s foreign exchange framework.

Full text of the statement:

“Sri Lanka is striving to rebuild its external sector through tourism inflows, digital services and SME-led exports.

However, there appears to be a significant mismatch between evolving global payment practices and the Country’s foreign exchange and payments framework.

Despite increasing tourist arrivals and the rapid rise of digital entrepreneurship among Sri Lankan youth, restrictions and inefficiencies in currency acceptance, payment platforms and exchange mechanisms continue to hinder inflows, distort markets and impose undue costs on citizens and businesses. In order to modernise Sri Lanka’s foreign exchange ecosystem and support emerging sectors, I ask the Minister of Finance the following:

1) What are the officially recognised and accepted “hard currencies” in Sri Lanka for transactions, settlements, and reserves and what criteria are used to determine such classification?

2) Given the significant inflow of Tourists, why has the Government not operationalised or encouraged the acceptance of currencies such as the Russian Ruble, Indian Rupee, Chinese Yuan and Japanese Yen for domestic transactions through banks, hotels and digital payment systems?

3) What are Central Bank, policy, regulatory or operational constraints that prevent the wider use of these currencies in both cash transactions and card-based payments within Sri Lanka?

4) Why is there a substantial spread between the buying and selling rates of foreign currencies offered by banks and financial institutions? What oversight mechanisms are in place to ensure that such spreads are fair and not exploitative to consumers and businesses?

5) Advice total profits earned by licensed Banks and Central Bank from foreign exchange transactions with the Government and the public during the years 2023, 2024 and 2025 to date?

6) Why are globally recognised digital payment platforms such as PayPal, Wise and Skrill not fully enabled or interoperable in Sri Lanka for receiving export proceeds, freelance income and service payments?

7) What steps has the Government taken to facilitate seamless inward remittances and digital payments for SriLankan freelancers, startups and SMEs engaged in cross-border trade in services?

8) While digital currencies are not legally recognised, it is widely reported that cryptocurrency transactions continue to take place outside the formal financial system; What measures are being taken to regulate, monitor and bring such activities within the tax net?”

The government asked for two weeks’ time to respond to MP Karunanayke’s questions.

By Saman Indrajith

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Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern and Southern provinces and in Monaragala district

Published

5 hours ago

2026/04/16

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 15 April 2026, valid for 16 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491

Latest News

Indonesian Navy Sailing Ship KRI BIMA SUCI – 945 makes port call in Colombo

Published

9 hours ago

2026/04/15

Priyan

The Indonesian Navy Sailing Ship KRI BIMA SUCI – 945 arrived at the Port of Colombo on a goodwill visit on 15 Apr 2026 and was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.

The vessel’s arrival is a key highlight of the ASEAN Plus Cadet Sail (APCS) – 2026 programme , accompanying a diverse contingent of Navy cadets from 26 different nations alongside their Indonesian counterparts.

The ship is commanded by Commander SUGENG HARIYANTO. Meanwhile, Officer Under-trainees of the Sri Lanka Navy are expected to participate in various programmes aboard the
ship and naval personnel observe its operational functions during its stay in the island.

Furthermore, the ship’s crew is scheduled to take part in programmes organized by the Sri Lanka Navy to enhance camaraderie between the two navies, as well as visit several tourist attractions in the country.

News

PM initiates children into learning at the auspicious time while observing New Year traditional customs and rituals

Published

10 hours ago

2026/04/15

Priyan

The Sinhala and Tamil New Year cultural festival, organized by the Ministry of Buddha Sasana, Religious and Cultural Affairs, was held on Tuesday (14) in Gampaha under the patronage of Prime Minister Dr. Harini Amarasuriya, with the performance of traditional auspicious customs and rituals.

In accordance with tradition, during the Punya Kalaya (inauspicious time), the Prime Minister visited the Medagama Sri Sunandarama Viharaya in Gampaha and participated in religious observances and received blessings from Venerable Thunmodara Samitha Thero, a member of the Karaka Sangha Sabha of the Sri Lanka Ramanna Maha Nikaya and the Chief Incumbent of the Medagama Sri Sunandarama Dharmaduta Piriven Viharaya.

The traditional observances of the Sinhala and Tamil New Year cultural festival were held at the residence of Darshana Weerasinghe in Gampaha. Marking the auspicious time for commencing work, and upon the invitation of the host family, the Prime Minister planted a sapling within the premises. Concurrently, Minister of Buddha Sasana, Religious and Cultural Affairs, Dr. Hiniduma Sunil Senevi, and Minister of Foreign Affairs and Tourism, Vijitha Herath, joined the PM.

Subsequently, the Prime Minister joined children in engaging in traditional folk games.

At the auspicious time for engaging work and educational activities, the PM participated with children in reading and writing, guiding them and symbolically marking the commitment to advancing the educational development of the nation’s children.

Thereafter, the Prime Minister and other distinguished guests observed the traditional customs of exchanging greetings, transactions and gifts with the host family, and joined them to partake in the customary New Year meal.

Extending New Year greetings to all citizens, the Prime Minister expressed her gratitude to all Sri Lankans, both at home and abroad, for their contributions in overcoming and effectively managing the various challenges faced by the country.

Speaking at the occasion, Minister Dr. Hiniduma Sunil Senevi stated that the Sinhala and Tamil New Year festival symbolizes renewal and purity, and reflects the energy of the sun. He also conveyed his wishes for a peaceful and prosperous New Year for all.

The occasion was attended by the Deputy Minister of Finance and Planning and Minister of Labour, Dr. Anil Jayantha; Deputy Minister of Labour, Mahinda Jayasinghe; Member of Parliament for the Gampaha District, Ruwan Mapalagama; along with the Gampaha District Secretary, Mayor, Divisional Secretaries, and a large number of government officials.

(Prime Minister’s Media Division)