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CBSL revokes margin requirements against imports

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The Central Bank of Sri Lanka (CBSL) says the Banking Act directions made by its Monetary Board on cash margin deposit requirements against imports have been revoked.

Thereby, the revocation, made pursuant to Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1998, is effective immediately.

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Parliament SOC recommends not to privatise SLT

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The Sectoral Oversight Committee (SOC) on National Security has said that it does not recommend the privatisation of Sri Lanka Telecom (SLT).

This was stated in a report issued by the SOC on National Security headed by MP Sarath Weerasekera.

The report said that matters sensitive to national security can be exposed through the privatisation of SLT.

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Sathosa slashes prices of 10 essential items

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The prices of 10 essential items will be reduced with effect from today (9), Lanka Sathosa announced.

The revised prices are as follows:

Red Kekulu Rice – Rs.139 per 1kg (reduced by Rs.6)
Mung Beans – Rs.1,225 per 1kg (reduced by Rs.325)
Dried Chili – Rs.1,290 per 1kg (reduced by Rs.60)
Thai Sprats – Rs.1,140 per 1kg (reduced by Rs.10)
Dhal – Rs.229 per 1kg (reduced by Rs.15)
Red Nadu Rice – Rs.200 per 1kg (reduced by Rs.15)
Imported Wheat Flour – Rs.200 per 1kg (reduced by Rs.10)
Soya Meat (Bulk) – Rs.650 per 1kg (reduced by Rs.10)
Chickpea – Rs.540 per 1kg (reduced by Rs.5)
White Sugar – Rs.225 per 1kg (reduced by Rs.4)

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Region named for mandarin cultivation

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The Ministry of Agriculture has decided to establish a mandarin orange cultivation zone in the districts of Kandy, Nuwara Eliya and Badulla.

Although oranges are already cultivated in these areas, there is a high demand among locals for imported mandarins which leads to the loss of significantly high cost.

With tests proving to be successful, it has now been decided to take measures to provide funding to locally cultivate mandarins.

Minister of Agriculture – Mahinda Amaraweera has instructed ministry officials to take measures to establish mandarin cultivations within this year itself.

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