News
Siyambalapitiya alleges move to trigger run on banks
By Rathindra Kuruwita
A sinister attempt is being made in some quarters to trigger a run on banks and the five-day bank holiday is aimed at countering that move, State Minister of Finance Ranjith Siyambalapitiya has said.
Siyambalapitiya, addressing the media, yesterday, assured that bank and other deposits and pension funds would not be affected by Domestic Debt Restructuring (DDR) and that there is no reason for people to panic.
Sri Lanka’s total debt amounted to USD 83.6 billion made up of foreign debt of USD 42.6 billion and domestic debt of USD 42 billion.
“Out of the domestic debt amounting to USD 25 billion are in Treasury bonds, USD 11 billion in Treasury Bills, USD 5.6 billion in development bonds and the rest has been from various institutions. When we restructure domestic debt, there will be no haircuts,” he said.
DDR will amount to extensions of payment dates, moratoriums and reducing interest rates, he said.
“If we can restructure foreign debt well, we don’t need too much from domestic debt. People should not panic and rush to the banks. Your deposits are safe. Your pension funds are safe,” the State Minister of Finance added.
The Cabinet of Ministers granted approval to the proposal furnished by the Minister of Labour to appoint Ms. H. M. D. N. K.Wataliyadde who is a special class officer in Sri Lanka Administrative Service attached to the Ministry of Public Administration, Provincial Councils and Local Governments at present to the post of Commissioner General of Labour
which is vacant by
The Cabinet of Ministers approved the proposal furnished by the Minister of Justice and National Integrity to publish the Anti Corruption (Assets and Liabilities Statements) Orders 2025 prepared as per provisions of Anti Corruption Act No. 9 of 2023 in the gazette notification and, forward those orders to the Parliament afterwards.
It was decided at the cabinet meeting held on 18-12-2024 to appoint an officers’ committee under the chairmanship of the Secretary to the Prime Minister for submission of a report after reviewing non-commercial
institutions owned by the government. The appointed committee has already reviewed 160 institutions, and it has been decided to obtain the assistance of a subcommittee comprising the members in the field for reviewing 36 higher education centers, including the universities.
The following recommendations have been submitted by classifying 124 institutions under 09 categories, except this institution.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Prime Minister to implement the aforesaid recommendations.
Ms. H. M. D. N. K.Wataliyadde appointed Commissioner General of Labour
Anti Corruption (Assets and Liabilities Statements) Orders 2025 to be Gazetted
Cabinet nod to review report on non-commercial institutions owned by the Government
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