News

New State Financial Management Act to be implemented

Published

12 months ago

May 9, 2023

editor

The Cabinet of Ministers approved, the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization & National Policies to take the necessary steps to introduce a new State Financial Management Act to be implemented with the 2025 budget, and simultaneously to repeal the Financial Management (Responsibility) Act No. 3 of 2003.

State financial operations are governed by the Financial Management (Responsibility) Act No. 3 of 2003 and subsequent amendments to that Act. The Act provides for non-compliance with the State’s financial rules only with the approval of Parliament in extraordinary cases. However, the Act does not include provisions for deviating from those terms.

The Act does not specify the measures to be taken in the event that the set goals cannot be met in accordance with the provisions of the Act. Taking those facts into account, the government has agreed to enact a new Public Finance Management Act under the International Monetary Fund’s Extended Credit Facility programme.

News

Prof. Nalin de Silva no more

Published

4 hours ago

May 2, 2024

editor

Philosopher, intellectual and academician Professor Nalin de Silva has passed away at the age of 79. Prof. de Silva initially served as a professor in the Department of Mathematics and later as the Dean of the Faculty of Science at the University of Kelaniya.

He was also a former member of the University Grants Commission (UGC).

In addition to his academic pursuits, de Silva also worked as a former Sri Lankan Ambassador to Myanmar.

News

‘Company issuing visa at BIA not Indian or Indian based’

Published

8 hours ago

May 2, 2024

editor

The Indian High Commission in Colombo has issued a statement over reports of Indian companies taking over visa issuance at Bandaranaike International Airport (BIA) in Katunayake.

The statement notes “companies referred to in these reports are not India based or Indian and are headquartered elsewhere. Any reference to India in this context is unwarranted.”

News

Chaos at BIA raises questions (Video)

Published

10 hours ago

May 2, 2024

nipuni

Questions have been raised after chaos at the Bandaranaike International Airport (BIA) in Katunayake last night (May 01) has sparked widespread outrage.

This is with regard to a controversial takeover of the on-arrival visa issuance process at BIA by an Indian company – VFS Global since yesterday evening.

It is learnt that the company has levied an extra $25 alongside the standard $75 fee.

Long lines of frustrated travellers were also seen at the airport for several hours, which is a stark difference to the procedure smoothly managed in a matter of mere minutes by the Immigration and Emigration Department in the past.

Footage of a Sri Lankan citizen expressing outrage over Indian nationals deciding visa matters for fellow Sri Lankans, has also been making rounds on social media.

Although 10 Sri Lankan and Indian officers had commenced work from 5.00pm yesterday, the lines remained well over 9.00pm. Amid tensions, higher officials of the BIA and security forces had also arrived at the premises.

At 11.30pm the company officials temporarily suspended issuing visas and left the BIA with the money collected, reports say.

Upon the directive of the Controller General of Immigration and Emigration – Harsha Ilukpitiya, Immigration officers have commenced their usual duties with no issues since then, enabling the previous process to continue smoothly.

Concerns have been raised over the lack of transparency in this arrangement.