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Another economic crisis by September?

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The country could face another economic crisis in September due to the delay in implementing the conditions of the International Monetary Fund (IMF), Professor Aminda Methsila Perera of the Financial Management and Accountancy Department at the Wayamba University said.

He expressed these views while attending a news briefing held by the People’s Collective for Economic Justice in Colombo.

He said that although 39 per cent of the IMF conditions should be fulfilled by May, the government has fulfilled only 10 per cent.

Meanwhile, Acting Investment Promotion Minister Dilum Amunugama said the Board of Investment has received USD 211 million in investments in the first quarter of this year.

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Concealed foreign liquor found during police raid at spare parts company

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Officers of the Walana Anti-Corruption Unit have discovered a stash of foreign liquor stashed at a well known spare parts company located in Delkanda, Nugegoda.

Upon receiving a tipoff, police discovered a large quantity of foreign liquor concealed at the company premises named ‘Lakpahana Auto’.

A 59-year-old man who works as the manager of the premises, has been arrested.

It is said that the street value of the liquor is nearly Rs. 10 million.

Police investigations further revealed that the businessman owning the spare parts company also owns two night clubs in Kottawa and Kollupitiya and the stashed liquor had been delivered to these two nightclubs.

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Bread flour prices slashed

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Leading flour manufacturers in Sri Lanka – Serendib Flour Mills and Prima, have decided to reduce bread flour prices by Rs. 10 per kilogram effective from tomorrow (Feb.18).
“During 2024, we implemented an initial reduction of Rs. 10 per kilogram in bread flour prices. While the earlier reduction did not translate to lower bread prices, both institutions have now stepped forward with an additional Rs. 10 per kilogram reduction, bringing the total reduction to Rs. 20 per kilogram,” said Mr. Kalinga Wijesekera, Director Brand and Corporate Communications, Serendib Flour Mills.

“We have informed the Minister of Trade of the latest reduction, and sincerely believe the Bakery Association will pass on the benefit of this price reduction to end consumers through reduced prices of bread and other bakery items,” he added.

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Justice Laffar’s term extended  

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The term of Acting President of the Court of Appeal – Justice Mohammed Thahir Laffar has been extended.

Accordingly, Justice Mohammed Thahir Laffar took his oath before President Anura Kumara Disanayake at the Presidential Secretariat today (Feb. 17).

Secretary to the President Dr. Nandika Sanath Kumanayake was also present on this occasion.

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