News

CBSL Bill presented to parliament

Published

7 months ago

March 7, 2023

editor

The Central Bank of Sri Lanka Bill was presented to the Parliament today (07) by the Leader of the House and Minister – Susil Premajayantha for its first reading.

This Bill was presented for ancillary matters including the establishment of the Central Bank of Sri Lanka in order to provide financial and administrative independence, and the removal of the Monetary Law Act currently established by the Central Bank.

According to the new Bill, the autonomy of the Central Bank shall be respected at all times and no person or entity shall cause any influence on the Governor of the Central Bank or other members of the Governing Board and Monetary Policy Board or employees of the Central Bank in the exercise, performance and discharge of their powers, duties and functions under this Act or interfere with the activities of the Central Bank.

Moreover, the Bill entails that the primary object of the Central Bank shall be to achieve and maintain domestic price stability.

In addition, a ‘Board of Governors’ will be established to supervise the administration and management of the affairs of the Central Bank and to decide the general policies of the Central Bank other than monetary policy. Its chairman shall be the Governor of the Central Bank and six members with expertise will be appointed to it.

News

Lenses available only for one week

Published

60 mins ago

September 22, 2023

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The Health Ministry is trying to go ahead with a questionable deal to purchase lenses, trade unions alleged.

Ravi Kumudesh, President of the Health Professionals Association, said that the Health Minister should pay attention to this matter immediately.

Meanwhile, the Health Ministry said that the number of lenses available in the warehouses of the Medical Supplies Division is sufficient for another week only.

Its Additional Secretary Dr. Saman Rathnayake said that the tender to purchase lenses will be allowed following the input of the Cabinet sub-committee appointed to look into the issue.

News

President meets UN Secretary General

Published

1 hour ago

September 22, 2023

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The official meeting between UN Secretary General António Guterres and President Ranil Wickremesinghe has taken place at the UN headquarters in New York.

President calls on US President

Meanwhile, US President Joe Biden and President Ranil Wickremesinghe engaged in a cordial meeting on Wednesday (20) in New York.

This high-profile meeting took place amidst a dinner hosted by President Biden, gathering all the Heads of State who had participated in the 78th session of the United Nations General Assembly.

The encounter began with a warm welcome from President Biden, who extended his hospitality to President Wickremesinghe.

The leaders engaged in a cordial and insightful conversation, touching upon various topics of global importance.

Following their discussions, they joined their fellow Heads of State for a group photograph, symbolising the spirit of international cooperation.

President Wickremesinghe, Professor Maithri Wickramasinghe and Mr. and Mrs. Biden posed for a photograph.

News

Inflation in SL decreased by 62.1% – Siyambalapitiya

Published

11 hours ago

September 21, 2023

editor

Acting Finance Minister Ranjith Siyambalapitiya announced that over the past year, inflation in Sri Lanka has significantly decreased by 62.1%, thanks to President Ranil Wickremesinghe’s robust economic reform agenda.

Mr. Siyambalapitiya also highlighted that inflation, which stood at 66.7% during the first and second quarters of 2022, has now plummeted to just 4.6% for the same period in 2023.

He made this announcement during a press conference held today (21) at the Presidential Media Center, focusing on the theme of ‘Collective Path to a Stable Country.