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Alcohol production decreased by 19% in 2023 : State Minister

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Sri Lanka’s alcohol production has dropped by 19% in 2023, according to Minister of State for Finance Dr. Ranjith Siyambalapitiya.

The Minister notes that there has been a fall of approximately 15 million in the manufacturing of 180ml alcohol bottles, which have the largest sales.

The quantity of alcohol produced in 750ml bottles decreased to 39.5 million in 2023 from 57.7 million in 2022.

Approximately 36.6 million 375 ml bottles were manufactured in 2023 compared to the 375ml bottles produced in 2022.

In 2022, 105.8 million 180 ml bottles were produced; by 2023, that number had reduced to 90.5 million, according to Minister Siyambalapitiya.

The Ministry of Finance claimed that 214 new alcohol licenses have been given in 2023 alone, 147 of which are F.L. 7, 8, and F.L. 11 types that are intended for the travel and tourism sector.

Minister Siyambalapitiya added that the Excise Department had issued 5730 alcohol licenses in total.

In spite of the belief that the opening of legal alcohol establishments has led to a rise in alcohol consumption, the Minister said that illegal alcohol is still widely available in places where it is not legal.

Accordingly, Minister Siyambalapitiya said that the best course of action is to prevent them and take steps to recover the lost tax income.

The Minister also brought up the fact that alcohol licensing fees have also increased, despite the government’s stated policy of not encouraging alcohol consumption in any circumstance.

He mentioned that taxes account for 75% of the cost of an alcohol bottle, with alcohol bearing the majority of these levies.

(sundaytimes.lk)

 (This story, originally published by sundaytimes.lk has not been edited by SLM staff)

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Rajeev Amarasuriya elected President of BASL

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Attorney-at-Law Rajeev Amarasuriya has been elected as the new President of the Bar Association of Sri Lanka (BASL) for the year 2025-2026 at the election held today (Feb. 19)

He has previously served as secretary of the BASL.

Academically, he holds a Law Degree from the University of Colombo, is an Attorney-at-Law of the Supreme Court of Sri Lanka, and a Fellow Member of both the Chartered Institute of Management Accountants (UK) and the Institute of Certified Management Accountants of Sri Lanka.

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Gazette issued on term of newly elected LG members

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A Gazette notification has been issued by the Minister of Public Administration, Provincial Councils, and Local Government, Chandana Abayarathna specifying that the term of the members of 337 Local Government Authorities should commence on June 02, 2025.

Accordingly, the Minister of Public Administration, Provincial Councils and Local Government has issued the Gazette in terms of the powers vested in him by Paragraph (b) of Sub-Section (1) and Section 10 of the Municipal Councils Ordinance, Chapter 252. 

The 337 Local Government Authorities include 27 Municipal Councils, 36 Urban Councils and 274 Pradeshiya Sabhas.

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Budget 2025 lays foundation for a strong economy – President

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President Anura Kumara Disanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong and stable economy.  

The President made these remarks while participating in the Post-Budget forum 2025 organized by the University of Colombo Master of Business Administration (MBA) Alumni Association held today (19) at Cinnamon Life Hotel in Colombo.

President Anura Kumara Disanayake stated that the government aims to utilize the three-year debt moratorium granted through debt restructuring effectively and implement proper economic management to regain debt repayment capacity by 2028.  

The President further noted that while many countries in the world have taken decades to recover after facing bankruptcy, Sri Lanka is expected to recover in a significantly shorter period.  

The President also highlighted that this year’s budget proposes to increase government revenue to 15.1% of the Gross Domestic Product (GDP) and emphasized the government’s commitment to prioritizing expenditures based on identified national priorities.

The President emphasized that this year’s budget focuses on expanding the economy by driving economic activities to rural areas and integrating citizens as stakeholders in the economy. He expressed confidence that this approach would enhance the economic benefits available to the people.  

The government plans to reintegrate marginalized groups into the economy by establishing small economic units at the village level. As a result, the country aims to foster a surge in Small and Medium-scale Enterprises (SMEs), the President stated.  

Highlighting the government’s commitment to supporting industries, the President noted that reducing production costs would ultimately provide relief to consumers.  

To uplift the nation from rural poverty, the highest budget allocation this year has been directed towards education. This investment aims to restructure both human and physical resources within the school system, transitioning from a linear education model to a more diversified, multi-directional approach.  

The budget also prioritizes public expenditure management. Given the high costs associated with delivering public services, the government intends to conduct a comprehensive review of state institution expenditures.  

President Disanayake stressed the importance of maintaining a corruption-free political authority and underscored that fostering a culture where bribery is rejected is a collective responsibility of the citizens.  

To establish an export-driven economy, the government plans to sign new trade agreements and anticipates higher export earnings this year.  

Additionally, the current administration is focused on developing a port-centric economy. The budget has placed special attention on establishing an efficient transhipment hub.  

Tourism promotion initiatives will be further strengthened through City Branding programs, with plans to develop key cities such as Anuradhapura, Yapahuwa, and Jaffna as major tourist destinations.  

 The President also emphasized the need to leverage the country’s diplomatic service to expand economic opportunities for Sri Lanka.  

The event was attended by Duminda Hulangamuwa Chairman, Ceylon Chamber of Commerce & Senior Adviser to the President on Economic Affairs and Finance,President of the University of Colombo Master of MBA Alumni Association Suraj Radampola, along with several experts from academia and the business sector.

(President’s Media Division)

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