Connect with us

News

Govt institutions permitted to use private banks

Published

on

Minister of State for Finance Mr. Shehan Semasinghe claims that for the first time, government institutions have been allowed to use the services of private banks.

“We authorised them because we cannot afford to allow any breakdown in the country’s financial processes,” he said. “The Government will take every precaution to ensure that trade union strikes do not disrupt the normal life of the people.”

The Government will not allow any trade union actions to disrupt the financial processes involved in obtaining essential items, including food, fuel, and coal, he said. The Minister was responding to the recent strikes by certain trade unions and how the Government will face them if they continue such trade union action.

“When the IMF negotiations were taking place last year, they blocked the gates of the Finance Ministry. They did so to prevent the Secretary to the Treasury from joining the IMF-Government discussions and to delay the progress in IMF bailout talks,” the Minister said.

“When the IMF’s Managing Director announced that they are looking at Sri Lanka positively and recognised the Government’s commitment, determination, and transparency, in the last eight days, the trade unions have come out on the streets for demonstrations.

We also asked him if these Trade union actions were causing any revenue losses. “Yes, undue trade union actions will affect the economy. These trade union actions are unfair. What the people in this country experience now differs from what they experienced eight months ago.”

He said all should be genuine enough to understand the country’s improvement. These trade union actions have nothing to do with taxes or Government reforms.

“It is evident that on the verge of receiving IMF approval, many political authorities and Opposition party leaders have become uncertain about their chances of accomplishing their political ambitions,” said Semasinghe.

He said they would only be able to promote their political ideology with much lower intensity than they had about eight months ago. However, they might spread their political ideology by ensuring the people suffer as much as possible.

News

Forests on state lands to be designated as reserves

Published

on

By

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.

Continue Reading

BIZ

No cases filed against 22 banned pyramid schemes – CBSL

Published

on

By

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).

Continue Reading

News

NPP’s Nishantha Jayaweera sworn in as MP

Published

on

By

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.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved