News

Announce selling price of wheat flour kilo as Rs.198 – CoPF

Published

2 years ago

August 17, 2023

editor

The Committee of Public Finance (CoPF) instructed the officials of the Ministry of Finance to announce that the selling price of a kilogram of wheat flour as Rs.198 so to avoid two major companies making additional profit and to protect the consumer.

This was discussed when the committee met on 15.08.2023 Chaired by Patali Champika Ranawaka, who was appointed as the protem Chair in the absence of the Committee Chair Dr. Harsha de Silva.

Attention was drawn to the Regulations under the Imports and Exports (Control) Act, No. 1 of 1969 published under the Gazette Extraordinary No. 2336/45 of 14.06.2023 which is to be approved by the Parliament.

The Committee Chair said that the officials of the Ministry of Finance said that the gazette published on 14.06.2023 was issued with the aim of preventing the various companies importing wheat into Sri Lanka by overstocking to make additional profit. Therefore, instructions were given to provide accurate data on existing and current stocks of bread flour to confirm how far the desired objectives have been achieved through the gazette published on 14.06.2023. Thus, the Chair of the Committee pointed out that there will be space to find out if any irregularity has occurred.

Report on Cement
Attention was also drawn to the Order under the Export Development Act Act No. 40 of 1979 published under the Gazette Extraordinary No. 2336/71. The order to increase the cess levied on the import of cement raw materials by 2 rupees per kilogram was discussed here. The Chair of the committee pointed out that the construction sector can be greatly affected by increasing the cess levy on cement raw materials. Furthermore, the Committee pointed out that there is a profit of nearly 700 rupees between the price of cement landed at the port and the selling price after deducting all taxes.

The Committee Chair ordered the officials of the Ministry of Finance and the Ministry of Urban Development and Construction to give a report on the matter as it appears that there is a huge gap between the selling price of cement and iron and all related taxes are deducted.

No proper evaluation of social impact due to tax increases
Furthermore, it was revealed that the work of many houses, including low-income houses and middle-class houses, has stopped due to the housing projects started by the Urban Development Authority, and it was informed to provide a report on the impact on the construction industry.

The officials also pointed out that the construction of a house which was built at a cost of 12 lakhs earlier will cost at least 24 lakhs. The Committee also emphasized that the lack of proper evaluation of the social impact caused by the increases made by the Ministry of Finance for the purpose of increasing the Government’s income is a big concern. Furthermore, the Committee pointed out that the relevant departments should intervene for the regulation of cement prices.

The Order under the Colombo Port City Economic Commission Act, No.11 of 2021 published in the Gazette Extraordinary No. 2343/60 and the Order under the Strategic Development Projects Act, No. 14 of 2008 published in the Gazette Extraordinary No. 2339/08 were also considered. The officials of the Port City Economic Commission and the Board of Investments explained the issues including the non-adherence of concessional measures to attract investments.

Thus, subject to the above-mentioned recommendations, these four gazettes were approved by the Committee on Public Finance.

News

Solar power tariffs revised

Published

5 hours ago

June 22, 2025

editor

The Cabinet has approved a revision of tariffs for newly contracted solar energy systems in Sri Lanka, effective from June 16, 2025.

According to a letter issued by the Ministry of Energy dated June 20, the updated rates are as follows:

Rs. 20.90 per unit for systems up to 5 kilowatts (kW)
Rs. 19.61 per unit for systems between 5 kW and 20 kW
Rs. 17.46 per unit for systems between 20 kW and 100 kW

These revised rates will apply to all applicants who pay the system clearance fees on or after June 16, 2025. The new tariffs will also be valid for extension requests submitted on or after that date.

(dailynews.lk)

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

News

Army denies social media claims fraudulent officer removals

Published

5 hours ago

June 22, 2025

editor

The Sri Lanka Army has dismissed recent social media claims suggesting a group of officers is being fraudulently removed using forged documents.

In a statement, the Army said the allegations are completely false stating that such assertions stem from a fundamental lack of understanding regarding military administrative protocols.

The allegations are aimed at damaging the institution’s reputation in the eyes of the public.

While confirming that no removals have taken place without proper procedures or the approval of the President, the statement asserts that the Army is committed to transparency while safeguarding national security.

Army_PR Download

News

A/L top achievers in North, felicitated (Pics)

Published

5 hours ago

June 22, 2025

editor

Three hundred students from the Northern Province who excelled in all subject streams of the 2023 G.C.E. Advanced Level (A/L) Examination will each receive a grant of Rs. 100,000 from the President’s Fund.

As part of a newly launched initiative to honour high-performing students at the district level for the 2023/2024 G.C.E. A/L Examination, the President’s Fund hosted an award ceremony this morning (22) at the Iranamadu Nelum Piyasa Auditorium in the Northern Province.

During the event, 300 students from the districts of Jaffna, Kilinochchi, Mullaitivu, Mannar and Vavuniya, specifically 60 students per district, with the top 10 students from each subject stream, were recognised and presented with financial awards for their outstanding academic performance. The President’s Fund has allocated a total of Rs. 30 million for this initiative, which is expected to be extended to all districts in the future.

Dr. Nandika Sanath Kumanayake, Secretary to the President, addressed the gathering and noted that following the formation of the new government, the President’s Fund has been restructured and expanded under the leadership of President Anura Kumara Disanayaka. He emphasised that the Fund now operates with increased transparency, correcting past irregularities to ensure benefits are directed to the truly deserving. Dr. Kumanayake also mentioned ongoing efforts to digitise the Fund and decentralise its services to improve accessibility and efficiency.

He further highlighted that education is the key to a successful life and urged the students to take full advantage of the support provided, pursue academic excellence, become responsible citizens and contribute positively to the country’s development.
Also addressing the event were Speaker (Dr.) Jagath Wickramaratne and Minister of Fisheries, Aquatic and Ocean Resources, Ramalingam Chandrasekar.

A vote of thanks was delivered by Abhishek, a student from Jaffna Hindu College, who expressed heartfelt appreciation to the President and the President’s Fund. He described the programme as a valuable opportunity for students from economically disadvantaged backgrounds to pursue higher education and achieve their goals.

In attendance at the ceremony were Northern Province Governor Nagalingam Vethanayahan, Deputy Minister of Cooperative Development Upali Samarasinghe, Members of Parliament K. Ilankumaran, Rajeevan Jeyachandramoorthy and M. Jagadeeswaran, along with other public representatives. Also present were Mr. Roshan Gamage, Senior Additional Secretary to the President and Secretary of the President’s Fund, senior officials from the Fund, government officers, heads of security forces, parents and students.

(President’s Media Division)