BIZ

Dialog to shut down 3G data network

Published

3 years ago

December 24, 2022

editor

Leading connectivity provider – Dialog Axiata PLC has announced that they will shut down their 3G data network in 2023 to free up spectrum and increase the capacity of its 4G Broadband network.

“This decision comes as part of Dialog Axiata’s ongoing efforts to provide the best possible mobile experience for its customers and is part of its continued efforts to introduce best-in-class, next-gen technologies to Sri Lankan consumers.” a company statement notes.

The statement further notes :
“Usage of the 3G Network account for less than 1% of Dialog’s data traffic and re-farming/allocation the 3G spectrum to support 4G Broadband will provide a much higher bandwidth and thereby a better experience to Dialog 4G Mobile Broadband customers. This announcement follows the Company’s decision in June 2022, to suspended issuance of new 3G connections as part of the 3G network shutdown initiative.”

“Dialog requests its 3G network users to switch to the 4G network as well as enable 4G data services on existing 4G devices to access Mobile Broadband services. To support the current 3G network users with the transition to 4G, Dialog offers a wide range of best-in-value 4G Smartphones, Dialog Lesi Pay instalment plans and free-of-charge 4G SIM upgrades which can be availed through its service network. Dialog will continue to maintain its 2G GSM network that would support the growing demand for voice services in addition to Voice over LTE offered through the 4G Network.”

“We apologise for any inconvenience that may be caused due to the shutdown of our 3G network, and we thank our customers for their patience and understanding as we refarm 3G spectrum to further improve our 4G mobile broadband network.”

However, customer complaints have been rampant on the existing services of Dialog Axiata.

BIZ

End of parate relief for large SMEs

Published

23 hours ago

July 1, 2025

editor

The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

BIZ

Special FD scheme for senior citizens introduced

Published

23 hours ago

July 1, 2025

editor

The Ministry of Finance has officially launched the special fixed deposit scheme for senior citizens.

Proposed in the Budget 2025, the scheme which is open to resident Sri Lankan citizens aged 60 years and above, comes into effect from today (July 01).

Eligible fixed deposits can be opened between July 01, 2025, and December 31, 2025, and must have a 12-month tenure.

The scheme will be implemented through the 17 licensed commercial banks; five (05) government banks and twelve (12) private banks that have confirmed participation. As part of the process, customers are required to provide a declaration confirming that the funds deposited are their own, their monthly income is less than Rs. 150,000, consenting to the sharing of relevant information with the Ministry of Finance, Planning and Economic Development for verification purposes, agreeing that any false information provided will result in disqualification from receiving the interest subsidy.

The government has allocated Rs. 30 billion to cover interest subsidies under this initiative.

Key features of the scheme:
– Deposit Period: 12 months (1 year)

– Deposit Limit: Maximum of Rs. 1 million

– Interest Benefit: Depositors will receive either

An additional 3% over the Average Weighted Fixed Deposit Rate (AWFDR), or
An additional 3% over the declared fixed deposit rate—whichever yields a higher return.

Senior citizens interested in availing themselves of the benefits are encouraged to visit the nearest bank branch starting today. Applicants must provide valid documentation, including their National Identity Card (NIC) and Taxpayer Identification Number (TIN) issued by the Inland Revenue Department (IRD).

This scheme aims to support the financial security of senior citizens by offering them a safer and higher-yielding savings option.