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New post for Chandima Weerakkody

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MP Chandima Weerakkody has been appointed as the President of the Sri Lanka-United Kingdom Parliamentary Friendship Association on Aug. 08.

The meeting to elect office bearers for the Sri Lanka – United Kingdom Parliamentary Friendship Association of the Ninth Parliament was held at the Parliament under the chairmanship of Speaker Mahinda Yapa Abeywardana.

Acting High Commissioner of United Kingdom in Sri Lanka Mrs. Lisa Whanstall was present at the meeting as the Chief Guest. The Deputy Speaker – Ajith Rajapakse, Ministers and Members of Parliament and the Secretary General of the Parliament Ms. Kushani Rohanadeera were also present.

State Minister – Diana Gamage as well as  MPs Muszhaaraff and Ashok Abeysinghe were appointed as the Vice Presidents of the Friendship Association. MP M. A. Sumanthiran and MP Harshana Rajakaruna, were appointed as Secretary and Assistant Secretary respectively, while MP Sagara Kariyawasam was appointed as Treasurer.

Speaking at this occasion, Speaker Mahinda Yapa Abeywardana said that he would like to express his gratitude for all the support given to Sri Lanka through the bilateral relations between Sri Lanka and the United Kingdom for seven decades. Furthermore, he also expressed gratitude for providing opportunities for Members of Parliament and Parliamentary staff through seminars, workshops and study tours through the Westminster Foundation for Democracy (WFD).

Addressing those present the Acting High Commissioner of the United Kingdom to Sri Lanka, Mrs. Lisa Whanstall said that the United Kingdom is happy to support Sri Lanka through multilateral organizations such as the International Monetary Fund, the World Bank and the United Nations to overcome the economic crisis.

Also, she added that she is ready to work with other lenders and the Government of Sri Lanka to restore debt sustainability.

Speaking, MP Chandima Weerakkody expressed his gratitude for appointing him as president. He also stated that through this he hopes to further strengthen and develop the relations between the United Kingdom and Sri Lanka.

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Lanka to take up bottom trawling

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When Indian Foreign Affairs Minister S. Jaishankar visits Colombo next week, the government is to take up the issue of Indian fishermen entering Sri Lanka’s northern territorial waters three days a week and engaging in illegal bottom trawling, Fisheries Minister Douglas Devananda said.

The Indian fishermen are expected to be back in Sri Lankan waters after a two-month-long annual breeding ban was lifted on Friday.

When President Ranil Wickremesinghe visited New Delhi last Sunday to attend the swearing-in ceremony of Indian Prime Minister Narendra Modi, the matter was raised at a meeting with Minister Dr. Jaishnakar.

“As a nation, we have to protect our resources, interests, and the livelihood of our fisherfolks. I hope to raise the issue in the next Cabinet meeting (June 19) as well,” Minister Devananda said.

Days before the Indian authorities lifted the annual breeding ban, a group of fishermen’s unions based in the North handed over a petition on Tuesday to officials at the Indian consulate office in Jaffna requesting India to take immediate steps to prevent Indian fishermen from coming into Sri Lankan waters at the expense of their livelihood.

The fishermen’s unions, which formed a collective called the Northern Fishermen’s Alliance, requested President Wickremesinghe

in a petition to urge Indian authorities to “expedite their maximum efforts to monitoring and preventing the daily incursion of thousands of Tamil Nadu trawlers every Monday, Wednesday, and Saturday evenings.”

The two-month-long ban, which came into effect on April 14 and was lifted on Friday, is enforced to facilitate the breeding of fish banks in the ocean and maintain the equilibrium of marine sources for sustainability.

Currently, Indian fishermen who engage in fishing in Sri Lankan territorial waters are arrested by the Navy and Coast Guard and subjected to legal action after their trawlers are seized.

Following the legal action in which the magistrate courts hand in a suspended sentence of eighteen months for engaging in fishing without a licence, fishermen are released and repatriated with the assistance of Indian diplomatic missions.

(sundaytimes.lk)

(This story, originally published by sundaytimes.lk has not been edited by SLM staff)

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Sri Lankan Youth to Be Freed from Cyber Camps in Myanmar

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State Minister of Foreign Affairs Tharaka Balasooriya said on his visit to Myanmar, he came to know that more than 100,000 youth from different countries are forcibly housed in the cyber camps in Myanmar, and 53,000 of them are Chinese nationals.

He was speaking to reporters at the Bandaranaike International Airport yesterday after completing an official visit to Myanmar and Thailand.

State Minister Balasooriya said, “We are confident that the 49 Sri Lankans who are forcibly held in cyber camps in Myanmar will be freed in the near future.” In addition to his visit to Myanmar, the State Minister also visited Thailand and discussed bilateral issues with the Deputy Prime Minister, Minister of Foreign Affairs, Minister of Justice and Home Affairs, as well as several Non-Governmental Organisations. They also discussed the forcible holding of youth from different countries in the cyber camps in Myanmar. They agreed that regional Governments should work together to secure their release.

(sundayobserver.lk)

(Except for the headline, this story, originally published by sundayobserver.lk has not been edited by SLM staff)

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IMF proposes new imputed rental income tax for Sri Lanka

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The International Monetary Fund (IMF) has proposed the introduction of an imputed rental income tax on owner-occupied and vacant residential properties in Sri Lanka, to be implemented by April 1, 2025. 

This recommendation comes as part of the IMF’s latest report on Sri Lanka, highlighting the need for sustained revenue mobilization efforts amid institutional challenges that hindered the initially planned property tax for 2025.

The IMF report emphasizes the importance of establishing a comprehensive property valuation database by August 2024, which will include assessed values, the latest assessment dates, and property types for all municipal councils. 

This database is a crucial step towards the effective implementation of the new tax.

Additionally, the report calls for the full operationalization of a nationwide digital Sales Price and Rents Register (SPRR) by the end of March 2025. 

This register will be accessible by the Inland Revenue Department (IRD), the valuation department, the land registry, and the public, serving as a key resource for assessing property values and the imputed rental income tax.

The IMF recognizes ongoing vulnerabilities and uncertainties in Sri Lanka, particularly concerning debt restructuring and the upcoming elections. 

The IMF directors have urged Sri Lankan authorities to continue strengthening macroeconomic policies to restore economic stability and debt sustainability while maintaining the momentum of reforms to promote long-term inclusive growth.

In support of Sri Lanka’s economic policies and reforms, the IMF Executive Board has completed the 2024 Article IV Consultation and Second Review under the 48-month Extended Fund Facility. 

This completion provides Sri Lanka with immediate access to SDR 254 million (approximately USD 336 million).

Moreover, the IMF has highlighted the importance of enacting the Asset Recovery Bill, following necessary public consultations, by November 2024. This bill is expected to play a significant role in enhancing fiscal responsibility and transparency within the country.

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