News

Parate Law suspension extended

Published

5 months ago

December 11, 2024

editor

The Government has decided to extend the suspension of the Parate Law which prevents the auctioning of collateral for defaulted loans by banks until March 31, 2025.

The Committee on Public Finance (COPF), under the previous Government, conditionally approved the suspension of Sri Lanka’s Parate Execution Law until December 15, 2024.

Considering the requests made by small and medium scale (SME) entrepreneurs, the Government has decided to extend the suspension of this law.

Cabinet Spokesman Minister Dr. Nalinda Jayatissa said that the Cabinet of Ministers has also granted its consent to the proposal forwarded by President Anura Kumara Dissanayake in his capacity as the Finance Minister to continue the suspension and establish a mechanism to address the issue in collaboration with all stakeholders.

The Minister further said that the Government has identified the importance of introducing an action plan for SME entrepreneurs to pay back loans without the auctioning of their properties. This would be a more progressive solution for both parties, he said.

(dailynews.lk)

(This story, originally published by Daily Mirror has not been edited by SLM staff)

News

03 vehicles collide at railway crossing

Published

15 hours ago

May 21, 2025

editor

03 vehicles have collided at the Merawala railway crossing on the Chilaw-Colombo main road.

The accident occurred at around 6.25 a.m. this morning (May 21) when a van, which had stopped behind a fuel bowser at the Chilaw Marawala railway crossing while it was closed for train traffic, was rear-ended by a prime mover transporting cement.

The prime mover had been unable to stop due to brake failure.

The van involved in the accident sustained significant damage and Chilaw Police are currently conducting further investigations.

(Pic: Accident 1st)

News

Ramith Rambukwella arrives before CIABOC

Published

16 hours ago

May 21, 2025

editor

Ramith Rambukwella – son of former Minister Keheliya Rambukwella arrived at the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) earlier today (May 21) to record a statement.

Colombo Chief Magistrate Thanuja Lakmali yesterday (May 20) ordered the further remand of Keheliya Rambukwella until June 03, following his arrest by the CIABOC over 03 complaints related to alleged corruption.

The court also granted permission to name Ramith Rambukwella as a suspect in the case.

News

Mahindananda seeks permission for home cooked meals

Published

16 hours ago

May 21, 2025

editor

Former Minister Mahindananda Aluthgamage, who is currently in remand custody, has submitted a written request to prison authorities seeking permission to receive food from his home.

He is currently being held at the “M 2” ward of the Colombo Remand Prison along with around 10 other prisoners, according to reports.

It is also reported that former minister Keheliya Rambukwella is being detained in the same ward.