News

Data Protection Authority comes into operation

Published

1 year ago

July 25, 2023

editor

Sri Lanka’s new Data Protection Authority has come into operation following a gazette issued by President Ranil Wickremesinghe in his capacity as Minister of Technology.

A gazette notification dated July 19 said that provisions of part V of the Personal data Protection act, No. 9 of 2022 comes into operation from July 17 onwards.

“By virtue of the powers vested in me by Subsection (5) of Section 1 of the Personal data Protection act, No. 9 of 2022, read with paragraph (3) of article 44 of the Constitution of the democratic Socialist republic of Sri lanka, I, Minister of Technology, Ranil Wickremesinghe, do by this Order, appoint July 17, 2023 as the date on which the provisions of Part V of the aforesaid act shall come into operation,” the gazette signed by President Wickremesinghe said.

Part V of the act deals with the establishment of a Data Protection Authority, first proposed in November 2022.

Section (1) of Part V reads: “There shall be established an authority which shall be called the Data Protection Authority of Sri Lanka for the purposes of this Act.

Section (2) reads: “The Authority shall, by the name assigned to it by subsection (1), be a body corporate and shall have perpetual succession and a common seal and may sue and be sued in such name.”

Wickremesinghe told parliament in November that the government would take steps to set up the Data Protection Authority in 2023 and the body would be independent and engaged with the Central Bank of Sri Lanka, Securities and Exchange Commission, Telecommunications Regulatory Commission (TRCSL) and all relevant sectoral regulators to ensure a proper governance of personal data.

Sri Lanka parliament enacted the Data Protection Act aiming to promote a digital economy amid concerns raised over the privacy of individuals and adverse impact on media reporting on March 10, 2022

The bill was passed without a vote after a raft of amendments was made to the original version.

(economynext.com)

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

News

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

Published

9 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

10 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)