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5 companies fined Rs. 1,243 Mn. for illegal gold imports

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State Finance Minister Dr. Ranjith Siyambalapitiya said that five companies have been identified for illegally importing gold into Sri Lanka during the past few years, and fines of Rs.1,243 million have been imposed on those companies.

The Minister said that one of the related companies was ordered to pay Rs.179 million as fines.

Emphasising that from now on, all licensed institutions carrying out import of gold goods should avoid these illegal acts, the Minister said that the relevant institutions will also be charged fines for the gold purchased by even third parties considering the production reports.

He said the efforts to stabilise the state revenue of the country are currently being carried out by closing all the loopholes related to the loss of state revenue gradually.

Certain parties who import gold goods have turned this into a big racket and therefore there is a mafia around it.There were various challenges and threats when the government tried to curb this mafia initially.

The Minister further said that there were various levels of threats, pressure and intimidation, and the government did not waver in the face of all these challenges and moved to the second step.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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CoI on Deshabandu concludes examining evidence by both parties

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The examination of evidence by both the Respondent and the Prosecution before the Committee of Inquiry concluded.

The Committee recommends that both parties submit their written submissions to the Committee of Inquiry before 3:30 p.m. on the 8th of July.

Examining evidence before the Committee of Inquiry to inquire and report its findings on IGP T.M.W. Deshabandu Tennakoon in respect of acts of gross abuse of power, concluded yesterday (July 01), with the presentation of evidence by both the Respondent, representing Inspector General of Police Deshabandu Tennakoon and the Prosecution.

The Committee of Inquiry, chaired by Supreme Court Judge P.P. Surasena and comprising Justice W.M.N.P. Iddawala and E.W.M. Lalith Ekanayake, Chairman, National Police Commission, convened today, during which, testimonies were obtained from two additional witnesses by the Prosecution.

These two witnesses had been overseas on official duty. Thus, in accordance with the prior agreement between the two parties, reached to obtain the evidence post June 26, held before the Committee of Inquiry with the participation of Additional Solicitor General (President’s Counsel) Dileepa Peiris and 

Deputy Solicitor General Rajitha Perera, representing the Attorney General’s Department, and R.S. Weerawickrama Attorney-at-Law, appearing on behalf of the Inspector General of Police, it was decided to record the statements of these two witnesses today.Furthermore, both the Prosecution in representation of the Attorney General’s Department and the Respondent Inspector General of Police agreed to submit their respective written submissions to the Committee of Inquiry before 3:30 p.m. on July 08, 2025.

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Govt to present 2026 Appropriation Bill in October

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Cabinet approval has been granted to a proposal presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance , Planning and Economic Development to present the Appropriation Bill for the year 2026 to Parliament in October 2025.

Approval has also been granted to present the Budget speech in November 2025 and to hold the third reading and budget debate during November and December.

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This week’s Cabinet decisions

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A number of decisions have been taken at the Cabinet meeting held yesterday (July 01).

The decisions taken by the Cabinet of Ministers are as follows :

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