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Possible to maintain inflation below 4-5% by the end of 2023 – CBSL Governor

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The Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe stated in Parliament that customers who have been inconvenienced due to the increase in the interest rates charged for the loans obtained under variable interest rates in the past is able to get relief by negotiating with the bank.

The Governor stated this when Parliamentarians inquired regarding the aforesaid at the Ministerial Consultative Committee on Finance, Economic Stabilization and National Policies held yesterday (16) in Parliament chaired by the State Ministers of Finance Hon. Ranjith Siyambalapitiya and Hon. Shehan Semasinghe.

The Members of Parliament pointed out that due to the increase in interest rates, the entire income of some creditors has to be paid for loan installments.  The CBSL Governor said that customers can pay only the relevant interest for a grace period in consultation with the bank. He further added that instructions have been given to the banks in this regard.

Also, the CBSL Governor said that the average inflation which was at a value of 70% two months ago has now decreased to 66% and the food inflation which was at 95% has decreased to 85%. He further stated that with the existing fiscal policies, this figure is expected to reach 4-5% by the end of next year. Furthermore, according to the conditions of the International Monetary Fund, a new act has been drafted to make the Central Bank an independent institution and the necessary work is being done, the CBSL Governor added.

Furthermore, the committee drew attention to the difficulty in exchanging dollars to rupees by banks. State Ministers of Finance – Ranjith Siyambalapitiya asked the CBSL Governor regarding the stated issue to which the Governor responded saying that the Central Bank has not given any advice that would cause such delays.

State Minister – Shehan Semasinghe also said that according to a report of the Department of Public Enterprises, 22 out of 126 institutions have not submitted their annual reports for more than 5 years and some institutions have delayed the submission of annual reports for about 7 years. Accordingly, the State Minister said that since he will be working with the International Monetary Fund in the future, he instructed the heads of the institutions to submit the annual reports within the stipulated time.

Leader of the Opposition – Sajith Premadasa, Members of the Committee – Jagath Kumara Sumithraarachchi, Sahan Pradeep Withana and Parliamentarians Secretary to the Treasury/Ministry of Finance, Economic Stabilization and National Policies, Mr. K M Mahinda Siriwardana, officials representing the Ministry and institutions affiliated to it were present at the Committee meeting held.

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Grenade found from garden of Kabaddi Federation President

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A live grenade manufactured abroad has been found in front of the house of Sri Lanka Kabaddi Federation President – Mr. Anura Dharmaratne, which is located in the Dolahamuna area in Hettipola.

Mr. Dharmaratne had lodged a complaint yesterday (26) with the Hettipola police, saying that there’s a grenade in front of his car which was parked on his land.

He had claimed someone had planted the grenade thus after someone who had been offended after it was announced that he was going to contest for the Kabbaddi presidency again.

Subsequently, police had visited the premises and seized the grenade.
So far, no arrests have been made in connection with the incident.

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Army Sanath arrested

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Notorious criminal and drug trafficker – ‘Army Sanath’ has been arrested in the Ahangama area during an operation carried out by the Police Special Task Force in Ahangama area.

He had also been in possession of 15 grams of heroin at the time of arrest.

According to the Police STF, ‘Army Sanath’ has operated the crime and drug ring of another notorious criminal – ‘Harak Kata’.

Authorities also say that it has been revealed that ‘Army Sanath’ had been in charge of transporting weapons for a spate of recent shootings as well as cleaning these weapons following the shootings and handing them over to various persons on the instructions of ‘Harak Kata’.

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2 CMC workers working in sewage gully, die 

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Two labourers engaged in maintenance work of a sewage gully network in Hettiyawatta, Kotahena had died today afternoon, Police said.
They were attached to the Colombo Municipal Council.

The workers had been unconscious when hospitalized and had later died.

Police say that they suspect the workers had inhaled a poisonous gas in the sewer.

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