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ETCA : 14th round of talks in March

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The 14th round of negotiations between Sri Lanka and India on the Economic and Technology Cooperation Agreement (ETCA) are scheduled to be held in New Delhi, in the first week of March 2024.

At its meeting on Monday (19 Dec.), the Cabinet of Ministers took into consideration the submission made by President Ranil Wickremesinghe regarding the current situation of the ECTA, and the 13th Round of discussions which took place in this regard.

Accordingly, the nine sub-committees responsible for ‘goods trade’, ‘introduction, general provisions and general exceptions’, ‘service trade’, ‘rules of the origin’, ‘customs procedure and easing the trade’, ‘measurements for sanitation and sanitation of vegetation’, ‘technical constraints for trade’, ‘trade accords’ and ‘economic and technological cooperation’ had entered into discussions.

Meanwhile, the sub-committee on conflict solving and final provisions is scheduled to conduct their discussions at the end of February 2024 in New Delhi.

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Seat belt compulsory for bus drivers from today

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The National Transport Commission (NTC) has announced that starting today (July 01), it will be mandatory for all bus drivers to wear seat belts, with strict penalties for non-compliance.

Under the MotorTraffic Act, bus drivers are legally required to wear seat belts, but a rise in accidents due to drivers ignoring this rule has prompted the authorities to re-enforce it.

Police confirmed that action will be taken against drivers who fail to comply.

Meanwhile, the Ministry of Transport has also stated that wearing seat belts will be made mandatory to all passengers of light vehicles travelling on expressways from August 01, 2025.

Meanwhile, wearing seat belts will also be mandatory to all passengers of all vehicles on expressways from September 01, 2025.

Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake also confirmed the directive while speaking to media this morning (July 01) during an inspection tour at the Colombo Central Bus Stand.

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End of parate relief for large SMEs

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The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando  has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

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Ex-SriLankan Airlines chief produced before court

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Former Chairman of SriLankan Airlines – Nishantha Wickramasinghe has been produced before the Colombo Magistrate’s Court by prison officials today (July 01).

Wickramasinghe was arrested last week by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and is currently in remand custody,

Related News :

https://srilankamirror.com/news/2-ex-heads-of-govt-institutions-arrested/

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