News

Inflation to come down further in the coming months- CBSL

Published

7 months ago

November 24, 2022

editor

The Central Bank of Sri Lanka says it expects headline inflation to decelerate further in the coming months.

The Central Bank announcing its Monetary Policy Review for the month of November said supported by favourable supply side developments and tight monetary policy measures, headline inflation pivoted towards the envisaged disinflation path in October 2022, after passing the peak in September 2022.

Accordingly, headline inflation, based on both the Colombo Consumer Price Index (CCPI) and the National Consumer Price Index (NCPI), decelerated, while a deceleration was also observed in core inflation.

The Central Bank noted the deceleration in inflation is expected to continue in the ensuing period, supported by subdued aggregate demand pressures, expected improvements in domestic supply conditions, normalisation in global commodity prices, and the timely passthrough of such reductions to domestic prices, along with the favourable statistical base effect.

The CBSL added that global as well as domestic risks to the inflation outlook in the near term are tilted to the downside, thereby supporting the disinflation path and stabilising inflation at the desired levels towards the end of 2023.

(newsradio.lk)

News

CMC’s receivable income exceeds Rs.6,200mn in 2022!

Published

23 mins ago

June 9, 2023

editor

The receivable income of the Colombo Municipal Council (CMC) for the year 2022 was Rs.6,280.50 million, it was revealed during the Committee on Public Accounts (COPA) meeting.

This was revealed when the COPA met in Parliament on June 06 under the chairmanship of State Minister Lasantha Alagiyawanna to examine the Auditor General’s reports and current performance of the Colombo Municipal Council for the years 2020/2021.

The CMC’s total receivable income of the year 2021 is Rs.5,835.6 million, Rs.5,386.4 million in 2022 and Rs.4,481.5 million in 2019. It was found that these arrears are in the form of assessment tax, rent and other taxes.

Accordingly, the officials who were present pointed out that they are making arrangements to acquire the properties where the taxes are in arrears.

They said that there are issues related to the identification of the owners of certain properties, and that there is also a shortage of CMC officials available to look into these matters.

The COPA member MPs pointed out that assessment numbers have been given for unauthorized constructions as well.

Accordingly, the committee recommended that a programme should be prepared with specific dates to recover the arrears and a full report should be submitted to the COPA by July 06, 2023.

It was also revealed that the private companies contracted to collect parking fees have continued to default on the monthly rent due to the CMC and the amount of arrears to be collected from 38 companies as at December 31, 2021, was Rs. 265 million.

BIZ

Parliament SOC recommends not to privatise SLT

Published

33 mins ago

June 9, 2023

editor

The Sectoral Oversight Committee (SOC) on National Security has said that it does not recommend the privatisation of Sri Lanka Telecom (SLT).

This was stated in a report issued by the SOC on National Security headed by MP Sarath Weerasekera.

The report said that matters sensitive to national security can be exposed through the privatisation of SLT.

News

Fonseka resigns from SOC on National Security

Published

35 mins ago

June 9, 2023

editor

Field Marshal Sarath Fonseka has resigned from the Sectoral Oversight Committee (SOC) on National Security, Deputy Speaker Ajith Rajapakshe announced in Parliament today (09).

He said MP Rauff Hakeem has been appointed to the vacant position instead.