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Discussion with WB representatives on future development plans of SL

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A discussion was held today (17) at the Ministry of Finance with World Bank representatives on Sri Lanka’s future development plans and policies under the patronage of Mr Sagala Ratnayake, Senior Advisor to the President on National Security and Chief of Staff to the President, State Minister of Finance Shehan Semasinghe and Minister Dilum Amunugama  with the World Bank Director for Sri Lanka Faris Hadad-Zervos.

The future development plans and policies of the country were discussed at length during the meeting.

The discussions focused on Improving fiscal oversight and debt management, Improving tax administration, Reducing sovereign financial sector nexus and systemic risks, Improving energy sector performance and reducing carbon footprint, Restructuring and divesting of SOEs, Reducing policy uncertainty and increasing competitiveness of the economy, Mobilizing private capital and competition in the broadband market and Strengthening social protection institutions, delivery systems and targeting.

Secretary to the President Saman Ekanayake, Senior Economic Adviser to the President R.H.S. Samaratunga, Finance Ministry Secretary Mahinda Siriwardena, Central Bank Governor Dr Nandalal Weerasinghe and government officials of line institutions were also present.

Following this meeting, World Bank Director for Sri Lanka Faris Hadad-Zervos and the World Bank delegation also met President Ranil Wickremesinghe and briefed him on these matters.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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