News

Court order preventing Excise Dept. from issuing liquor licenses

Published

10 months ago

April 2, 2024

editor

The Supreme Court today (02) has issued an interim injunction preventing the Excise Department from issuing liquor licenses in violation of the provisions of the Excise Act of Sri Lanka.

The court order will be in effect until May 10, 2024.

A three-member bench comprising Justices Yasantha Kodagoda, Janak de Silva and Arjuna Obeysekera delivered the interim injunction after taking into consideration 03 fundamental rights (FR) petitions filed by the Sri Lanka Liquor Licensees’ Association and several other parties.

Appearing on behalf of the petitioners, President’s Counsel Sanjeewa Jayawardena and several other legal counsels told the court that the Excise Department has been issuing liquor licenses in an irregular manner.

As such, the petitioning party requested the judge bench to deliver an injunction preventing the Excise Department from overriding the provisions of the Excise Act and regulations when issuing liquor licenses.

News

PNB seize over Rs. 280 mn. in biggest drug money bust

Published

8 hours ago

January 17, 2025

editor

The Police Narcotics Bureau (PNB) has seized a stash of currency notes amounting Rs. 283 million.

It is said that this is the largest amount of cash ever confiscated from a drug trafficker in Sri Lanka.

The banknotes were recovered from a residence in Kurunegala during a search operation. 18 grams of ‘Ice’ (Crystal Methamphetamine), a double-cab, and a van were also seized during the raid.
According to police, the money allegedly belongs to a suspect who is currently in prison.

The suspect was presented before the Kurunegala Magistrate’s Court and the Magistrate has granted permission for authorities to detain and further interrogate him.

News

Energy Ministry differs on electricity tariffs (Update)

Published

9 hours ago

January 17, 2025

editor

Hours after the Public Utilities Commission of Sri Lanka (PUCSL) announced a 20% average reduction in electricity tariffs effective from midnight today (Jan. 17), the Energy Ministry has stated that the tariff revision would be implemented only upon receiving approval from the Finance Ministry.

In a media release, the Ministry has said that the proposals should be first officially received and thereafter they would need Finance Ministry advice.

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(Previous News : January 17, 2025 3.05pm)

Electricity tariffs slashed by 20%

The Public Utilities Commission of Sri Lanka (PUCSL) has decided to slash electricity tariffs by an overall average of 20 percent.

The tariff reduction will affect all consumer categories and will come into effect from midnight today (Jan. 17).

The PUCSL’s proposed reductions are as follows;

Domestic tariff – reduced by 20%
Places of worship – reduce by 21%
Hotels – reduced by 31%
Industries – reduced by 30%
Government Institutions – reduced by 11%

Electricity tariffs reduction (Domestic)

0-30 units reduced by 29%
31-60 by 28%
61-90 by 19%
91-180 by 18%
More than 180 by 19%

BIZ

SL – China currency swap agreement, renewed

Published

9 hours ago

January 17, 2025

editor

The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement.

The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects the financial cooperation between China and Sri Lanka.

Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, signed the agreement on behalf of the Central Bank of Sri Lanka, while Mr. Pan Gongsheng, Governor of the People’s Bank of China, signed on behalf of the People’s Bank of China.

(CBSL)