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Beer demand drops; stocks to expire soon?

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The Excise Department said that beer products produced by some liquor companies are piling up in warehouses without being able to be sold due to the decrease in alcohol sales by about 30%.

As a result, some companies involved in liquor production have been closed for two or three weeks.

Meanwhile, Excise Commissioner General Saman Jayasinghe has told the media that the Excise Department is focusing on increasing the export of locally produced liquor products as local sales have fallen.

The Commissioner also said that the annual export income of Rs.22 billion is expected to be increased to Rs.30-35 billion.

It was said that although the price of ethanol has increased rapidly in the past, the price of ethanol has come down now and that there is a surplus of ethanol in Sri Lanka.

However, the Excise Department said that due to the current economic crisis, there is less motivation to buy alcohol in a background where the prices of all goods in Sri Lanka have increased.

Therefore, the Excise Department has planned several strategies to achieve this year’s revenue target of Rs.214 billion.

Also, they pointed out that there are about 350 vacancies at the department and this lack of staff has hindered the achievement of the target revenue.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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