The government of Sri Lanka and the Hungarian Export Credit Insurance Plc. have signed a bilateral agreement in relation to the External Debt Restructuring Process.

In a statement, the Ministry of Finance, Planning and Economic Development said the signing of the agreement is a significant milestone of the External Debt Restructuring Process and testament to the government’s commitment to conclude the restructuring process as soon as possible to restore debt sustainability and thereby revamp Sri Lanka’s economy.
Following bilateral discussions after the conclusion of the Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC), the Hungarian Export Credit Insurance Plc. has agreed to provide a debt relief measure by rescheduling the outstanding debts, the Ministry noted.

The estimated rescheduled debt under this agreement amounts to Euro 30 million.

The signing of the agreement will pave the way to developing further the deep and long standing bilateral relationships between Hungary and the Government of Sri Lanka, the Ministry added.

The bilateral agreement was signed by Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning, and Economic Development, on behalf of the government and Györgyi Rehoregh, Director, Foreign Corporate Risk Management & Claims and Recoveries Directorate, and Dr. Adrienn Hegyi Szénásiné, Head of Claims and Recoveries, Foreign Corporate Risk Management and Claims and Recoveries Directorate, on behalf of the Hungarian Export Credit Insurance Plc.

A committee has been appointed to investigate and submit a report on plastic-based products in the market that pose a threat to the health of children, the Ministry of Trade, Commerce, Food Security, and Cooperative Development has announced.

Speaking at a media briefing today (03), Subject Minister Wasantha Samarasinghe stated that the government will take the strongest possible measures within the next two months to prevent such harmful products from entering the market, based on the committee’s recommendations.

He warned that some plastic bottles used to fill hot water are unsafe and noted that tests have revealed serious risks due to the use of such material.

“We will summon importers and manufacturers and present the facts to them. A committee of experts will be appointed, and all relevant parties will have the opportunity to share their concerns with the committee. Based on its report, we will take the strongest possible decisions to ensure the safety of children,” the Minister added.

Sri Lanka Customs has refuted social media claims alleging the imposition of a new tax on small parcel imports.

Addressing the media, Customs Media Spokesman and Additional Director Seevali Arukgoda emphasized that no new taxes have been introduced, nor are there any disruptions to the clearance of imported goods.

“We are not increasing tax rates… we are simply ensuring duties are calculated correctly,” he said. “The previous system allowed for significant undervaluation and misuse. Now, we are enforcing the existing laws more transparently.”

He explained that duties are now calculated using the globally accepted Harmonized System (HS) Code, which categorizes goods by type and value, replacing the older method of relying on parcel weight or flat rates that were often exploited.

Arukgoda further assured that no parcels are being withheld and reiterated that rates remain consistent with those approved by Parliament. The changes, he said, were implemented after adequate notice was given to courier services and importers — including a 1.5-month notice period and a 2-week transition phase.

He also noted that there is no requirement for recipients of online orders to visit Customs in person. Courier companies continue to handle delivery and clearance, he added.