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COPF takes up 2 reports to be submitted to Parliament

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The Committee on Public Finance took into discussion the two reports to be submitted to Parliament by the Committee post presenting the Appropriation Bill to Parliament in accordance with the Standing Orders of Parliament.

This was discussed at the Committee on Public Finance which met in the Parliament recently (15) under the chairmanship of (Dr.) Harsha de Silva, Member of Parliament.

According to Standing Order 121, a report on estimates including whether the allocation of government funds is consistent with the policies of the government after the presentation of the Appropriation Bill every year and a report on the taxation, fiscal and economic assumptions used as a basis for arriving at the total expenditure and revenue, prior to the commencement of the Committee Stage of the budget should be presented to Parliament.

Accordingly, it was discussed about preparing these two reports and presenting them to the Parliament and the opinions of Dr. Dushni Weerakoon, Dr. Nisha Arunatilake and Yuthika Indraratna who are working on the preparation of the two reports were also taken at the Committee meeting held.

The Chairman of the Committee (Dr.) Harsha de Silva further mentioned that after preparing the drafts of these two reports, he hopes to submit these two reports to the Parliament in the future post including the comments of the members of the Committee.

Furthermore, for the first time, the Committee on Public Finance is at present working with a group of economic experts and Dr. Dushni Weerakoon and Dr. Nisha Arunatilake, who are members of the Institute of Policy Studies of Sri Lanka, are also working in support to the group.

The annual program prepared by the National Audit Office for the year 2023 was also considered here. Furthermore, several matters presented by Hon. Anupa Pasqual, Member of Parliament to the Committee were considered and matters regarding the Parliamentary Budget Office was also discussed at the committee meeting.

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03 Lankans featured in 2025 Forbes’ 30 Under 30 Asia list

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03 young Sri Lankans have been featured in the Forbes’ 30 Under 30 Asia list for 2025.

They are :
Nikin Matharaarachchi, in 2021, founded Sri Lanka-based Synapse AI Labs is the company behind Kommon Poll, an AI-powered social listening tool. Kommon Poll provides businesses marketing insights by analyzing keyword performance across multiple online platforms, including news sites, blogs and social media.

Charith N Silva, known for videos showing him preparing dishes in outdoor settings, launched the YouTube channel ‘Wild Cookbook’ in 2020 during the pandemic. With over 600 videos, ‘Wild Cookbook’ is now Sri Lanka’s largest YouTube channel with over 10 million subscribers, and Silva has over 2.3 million Instagram followers. In November 2024, he opened a restaurant in Colombo called Wildish.

Yanika Amarasekera-Siyaguna, a UC Berkeley and Imperial College London alumna, founded Silver Aisle, Sri Lanka’s first online wedding registry, in 2019. The e-commerce platform has since expanded beyond wedding gifts to include presents for all occasions as well as dining ,vacation packages and lessons in horse riding, golf and pottery, among others. In 2023, Amarasekera-Siyaguna was appointed an independent director of LB Finance, one of Sri Lanka’s largest finance firms.

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SL & India sign USD 930.8 Mn. debt restructuring deal

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Sri Lanka and India have signed a USD 930.8 million debt restructuring deal recently on Sri Lanka’s present External Debt Restructuring Process. 

The signing of Bilateral Amendatory Agreements between the Government of Sri Lanka and the Export-Import Bank (EXIM) of India took place on March 25, 2025 and April 03, 2025, respectively. 

The deal concerns 07 Line of Credit and 04 Buyer’s Credit Facility agreements with the Government of India.

Secretary of the Ministry of Finance, Planning, and Economic Development, Mr. K.M. Mahinda Siriwardana, signed the agreements on behalf of the Sri Lankan Government.

General Manager of the EXIM Bank of India, Mr.Nirmit Ved, signed the Line of Credits, and Deputy General Manager of the EXIM Bank of India, Mr. Amith Kumar, signed the Buyer’s Credit Agreements.

Issuing a statement, the Ministry of Finance, Planning and Economic Development stated that the signing of these bilateral amendatory agreements marks a significant milestone in Sri Lanka’s ongoing External Debt Restructuring Process.

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965 lives lost in road accidents during last 05 months

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A total of 965 people have died between January 01 – May 13 due to various road accidents across Sri Lanka.

During this period,1,842 accidents including 902 fatal accidents were recorded, according to police reports.

The main causes cited for these accidents include negligence, reckless driving and improper vehicle maintenance.

To address the rising number of accidents, police have planned a special island-wide program focused on reducing traffic incidents, including driver awareness initiatives.

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