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President makes special statement in Parliament

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In a special statement in parliament today (09), President Ranil Wickremesinghe said he assumed leadership of the country without any conditions, despite being a sole member of Parliament.
He cited his well-thought-out plan, extensive experience, & international relationships as reasons for his confidence in the country’s recovery from its challenges.

For the reconstruction of the fallen country, economic stabilization and recovery programs were formally implemented. As a result, the President said that the journey of economic growth has started from the middle of 2023.

The President noted that economic growth is projected to be around 3% this year, with several local and international financial institutions offering similar forecasts.

Currently, the country’s inflation has dropped to 1.5%, and the primary account balance, which had been in deficit for many years, has turned into a surplus of 0.6% of GDP in 2023.

Additionally, after many decades, there’s a surplus in the current account of the balance of payments in 2023 & interest rates have decreased to between 10% & 13% over the year.

By the first quarter of 2024, we were able to reach the US$ exchange rate below Rs. 300. Highlighting an increase in foreign exchange reserves surpassing US$ 5 billion, the President attributed this success to navigating a challenging yet correct path.

President Ranil Wickremesinghe outlined key objectives regarding debt restructuring in Sri Lanka. By 2032, the aim is to decrease the nation’s total debt to 95% of GDP, maintain the government’s gross financial requirement at 13% annually & ensure foreign debt servicing remains below 4.5% annually.

The President also emphasized the necessity of ensuring debt sustainability for long-term economic progress. To address this, an anti-corruption program based on the Governance Diagnostic Report, with support from the IMF has been initiated, he said.

President Ranil Wickremesinghe announced a substantial increase in funding for relief programs targeting impoverished communities, surpassing three times the Samurdhi subsidy. The allocation of Rs.205 billion for these programs in 2024 represents the largest amount ever dedicated to supporting the impoverished, he added.

The President noted that the strengthening of the Rupee has led to lower prices for imported goods such as gas, fuel & milk powder. Additionally, he mentioned that decreased interest rates have positively impacted the entrepreneurial sector.

The President further announced that public sector salaries may be reconsidered in 2025, citing the anticipated economic growth & increased government revenue in 2024.

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Passengers jump from plane’s wing after fire alert on Spain flight, triggers panic

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Wildfires have broken out on an island and in towns near Athens in Greece, with blazes also being sparked in Turkey and Syria.

The Hellenic Fire Service and local authorities said that two villages – Tsakeoi and Limnionas – had been evacuated on the island of Evia after the blaze started late on Friday.

One fire service official said more than 160 firefighters, 46 trucks and five aircraft were deployed in southern Evia to put out the fire.

Southern Evia, to the east of Athens, was one of several regions in Greece placed on high alert for wildfires over gale-force winds forecast for today.

Images from Koropi, a town to the southwest of Athens, also show houses burnt down and helicopters dropping water on burning forests.

It marks the latest wildfires to break out in Greece – where blazes are common during the summer – as it tackles strong winds and dry conditions amid an early summer heatwave in southern Europe.

Officials have linked the conditions to at least nine deaths across the continent.

A wildfire broke out in Achlia on the island of Crete on Wednesday, forcing thousands of residents and tourists to evacuate – with some taken to a nearby basketball arena and hotels in safer parts of the island.

The fire service official told Reuters on Friday that the fire in Crete was largely contained.

Meanwhile, blazes have also broken out on Turkey’s west coast – the latest in a series of blazes which started in late June – as well as its southerly neighbour Syria.

At least five fires have been reported in Izmir after extreme heat, strong winds and low humidity. Two people have been killed by the blazes, while tens of thousands have been evacuated.

Fires also flared on both sides of the Turkish-Syrian border on Friday, with a new blaze reported near the town of Dortyol in Turkey’s border province of Hatay.

According to Syria’s Civil Defence, wildfires have spread across large parts of mountainous areas in the Latakia province.

The government department added that conditions have hampered efforts to bring the fire under control, and noted unexploded ordnance could be in some of the areas affected.

Source: SKY NEWS

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CBSL extends Perpetual Treasuries suspension for six months

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The Central Bank of Sri Lanka (CBSL) has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a further period of six months.

The extension is with effect from 4.30 p.m. on 05th July 2025, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

The suspension has been extended by CBSL acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance.

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Kataragama Basnayake Nilame pressured over complaint against Kapuwas’ donation misuse

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It has been reported that Dishan Wickramaratne Gunasekara – the Basnayake Nilame of the historic Ruhunu Kataragama Maha Devalaya, is facing pressure including from several parties including political circles to withdraw his complaint lodged against the custodians (Kapu Mahattaya) of the devalaya.

The issue had arisen after it was discovered that some custodians were collecting money into their own tills instead of allowing them to be deposited in the official donation box.

Public discussion about the transparency of the temple’s donations intensified after the Basnayake Nilame had begun using a portion of the funds for community projects like hospital construction.

Traditionally, devotees often handed donations directly to the custodians, but the Basnayake Nilame had urged the public via media to place offerings only in the official donation box managed by the Ministry of Buddha Sasana, Religious and Cultural Affairs.

He subsequently arranged a proper audit of all such donations for the first time.

In response, some custodians had reportedly begun pressuring devotees near the official box to hand over donations to them instead.

Upon learning of this, the Basnayake Nilame had lodged a complaint with the Kataragama Police, arguing that diverting funds from the official box amounts to fraudulent misappropriation.

Acting on the complaint, police arrested 02 custodians who were collecting offerings near the official box.

However, other custodians then surrounded the police station and pressured the officers to release the arrested individuals, resulting in their release.

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