News

CoPF urges to ensure the entire ‘Aswesuma’ project is done electronically

Published

3 weeks ago

May 30, 2024

editor

The Committee on Public Finance has directed the officials of the Welfare Benefits Board to give priority to the criteria that can be verified and determined in order to accurately identify poverty while selecting the beneficiaries. Drawing examples, the Committee pointed out that individual poverty can be identified better based on the electricity bill amount considering the electricity units consumed in each home.

The Committee pointed out that there are major problems and lack of formality in the criteria used in the selection of relief beneficiaries, and advised them to rectify it as soon as possible. The officials of the Ministry of Finance told the Committee that they will change the method of giving points that is currently used in the selection of relief beneficiaries.

The matter was taken up for discussion when the Committee on Public Finance met in Parliament recently (May 28) under the chairmanship of Dr. Harsha de Silva.

Furthermore, the amendment to the regulations under section 27 of the Welfare Benefits Act No. 24 of 2002 published in the Extraordinary Gazette No. 2382/02 dated 29.04.2024 was considered before the Committee.

The members of the Committee pointed out the way in which huge corruption and irregularities take place through the manual recording of data by those people while selecting the beneficiaries. Accordingly, the Committee on Public Finance gave a recommendation to the Ministry of Finance officials to conduct the entire process from collecting necessary data to the selection of relief beneficiaries only via electronic means.

Furthermore, the displeasure of the Committee was expressed for not taking formal legal action for the irregularities that have arisen in relation to the selection of beneficiaries. The Committee pointed out that by not taking legal action, more and more corruption and irregularities will occur and it will create a serious obstacle for the right people to get the benefits. Accordingly, the Committee Chair instructed the officials to investigate the complaints received and take necessary legal measures for the same.

Milk powder prices
Furthermore, the order was reconsidered under Section 3 of the Port and Airport Development Tax Act No. 18 of 2011 published in the Extraordinary Gazette No. 2350-45 dated 21.9.2023. Milk powder prices and local milk powder market were discussed under this. The Chair emphasized the importance of introducing a price formula for milk powder based on a scientific method. Accordingly, the Chair also instructed the officials to introduce the HHI (Herfindahl-Hirschman index) index.

News

CBSL appoints two New Deputy Governors

Published

3 hours ago

June 23, 2024

editor

The Central Bank of Sri Lanka (CBSL) has appointed two new Deputy Governors, effective this week.

Assistant Governor and Secretary to the Governing Board A.A.M. Thassim has been appointed as Deputy Governor starting June 20, while Assistant Governor J.P.R. Karunaratne will assume his new role on June 24.

These appointments were made by the Minister of Finance, following recommendations from the CBSL Governing Board, in accordance with the Central Bank of Sri Lanka Act, No. 16 of 2023.

Mr. Thassim brings over 31 years of experience at CBSL, having worked in various areas including Banking Supervision and Regulation, International Operations, and Risk Management. He has also been part of several high-level committees on monetary policy and financial stability.

Mr. Karunaratne, with over 33 years at CBSL, has extensive experience in the supervision and regulation of financial institutions, currency management, and public debt. He has significantly contributed to strengthening the legal framework and consolidation of the Non-Bank Financial Institutions sector.

News

UK rejects TGTE appeal to lift LTTE proscription

Published

11 hours ago

June 23, 2024

editor

The UK Proscribed Organisations Appeals Commission has rejected an appeal by the Transitional Government of Tamil Eelam (TGTE) to lift the proscription on the Liberation Tigers of Tamil Eelam (LTTE) as a terrorist organisation in Britain.

Sri Lanka’s Minister of Foreign Affairs, Ali Sabry, confirmed that the UK will continue to maintain the proscription on the LTTE. Announcing this on ‘X’ (formerly Twitter), Sabry noted that the independent court, headed by a high court judge and two retired senior diplomats, ruled against de-proscribing the LTTE.

The TGTE, which supports the creation of an independent Tamil state in north-east Sri Lanka, had appealed to the UK to lift its ban on the LTTE. However, the TGTE itself is not proscribed in the UK as it seeks to achieve its political and ideological objectives through non-violent means.

Sabry further stated, “The LTTE international network’s approach and strategy is to get foreign governments to de-proscribe the LTTE so that they could revive the LTTE.”

News

Thai PM justifies frequent international trips, including a visit to Sri Lanka

Published

13 hours ago

June 23, 2024

editor

Thailand’s Prime Minister Srettha Thavisin defended his frequent globe-trotting during his first 10 months as leader of the Southeast Asian nation, in remarks aired in a television broadcast on Saturday.

A real estate tycoon and political newcomer who became prime minister in August last year, Srettha made 15 overseas visits and pledged a two-month halt in March in response to public criticism.

“Some of these visits are not avoidable,” he said, referring to those for official meetings of the Association of Southeast Asian Nations (ASEAN), as well as to China and Japan, while a third was to Sri Lanka to sign a free trade pact.

Other visits aimed to draw trade and investment, said Srettha, nicknamed Thailand’s salesman, who has often spoken of his goal of luring more foreign investment to the country.

“It’s necessary to go,” he said in the remarks recorded in advance.

Source: Reuters

–Agencies