Central Bank’s ability to print money limited –Acting Finance Minister

Published

2 years ago

September 16, 2023

editor

The ability of the Central Bank of Sri Lanka to print money has been limited with the enforcement of the new Central Bank Act.

The Central Bank of Sri Lanka Bill was passed in Parliament with amendments in July while it came into effect as an Act from yesterday.

The Act empowers the CBSL in various ways while ensuring its independence.

Acting Minister of Finance Ranjith Siyambalapitiya noted that the Act limits the ability to print money excessively, which caused major issues in the country in recent times.

According to the Act, the Central Bank will be able to print money during special circumstances such as when dealing with a national security or health emergency.

Meanwhile, with the enforcement of the Act, the Treasury will not be able involved in the process to appoint a Governor of the Central Bank.

(news radio)

8,742 Vesak Dansals registered islandwide

Published

8 hours ago

May 12, 2025

editor

The Public Health Inspectors (PHI)’s Union states that a total of 8,742 Dansals have been registered islandwide, in line with Vesak celebrations this year.

According to the PHI’s Union chairman – Upul Rohana, the highest number of ‘Dansal’ is registered in the Western Province, particularly in the Colombo Municipal Council (CMC) area.

The union has also urged organiser to reduce the use of polythene and plastic during food distribution efforts.

Financial assistance from President’s Fund for Gerandi Ella bus accident victims

Published

8 hours ago

May 12, 2025

editor

A sum of Rs. 1 million from the President’s Fund will be granted for each individual who lost their life in the Kotmale bus accident, the President’s Media Division states.

President Anura Kumara Disanayake has directed that a sum of Rs. 1 million be granted from the President’s Fund to each individual who lost their life in the tragic bus accident that occurred early this morning (11) in the Garadiella area, Kotmale.

Accordingly, arrangements have been made to promptly disburse these funds to the next of kin of the deceased through the President’s Fund.

In addition to this assistance, compensation will also be provided to the affected families through the Sri Lanka Transport Board and relevant insurance schemes.

Meanwhile, authorities continue to investigate the cause of the accident, which has claimed 22 lives so far.

(Pic : Accident1st)

News

Maxwell gets 5-yr. ban

Published

9 hours ago

May 12, 2025

editor

Former Secretary of the National Olympic Committee of Sri Lanka (NOCSL) Maxwell de Silva was handed a five-year ban, sources revealed.

Earlier, De Silva was suspended by the International Olympic Committee (IOC) and the Ministry of Sports due to various irregularities committed by him over several years.

Accordingly, the NOCSL Executive Committee decided to hand down a five-year ban on De Silva, considering the recommendations made by the NOCSL Ethics Committee, NOCSL President Suresh Subramaniam told the Daily Mirror.

Subramaniam further stated that the penalty on De Silva has already been communicated in writing to the IOC.

Accordingly, the former secretary, who has been banned for five years, is now completely prohibited from representing the NOCSL at any foreign event or international conference.

(dailymirror.lk)

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