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Relief for personal income tax expected soon – President

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In a landmark keynote address at the University Lecturers’ Conference held at the Water’s Edge Hotel yesterday evening (Aug. 13), President Ranil Wickremesinghe revealed plans to provide relief for personal income tax in the near future.

The President mentioned that two proposals, currently under review by the Treasury and the counter proposal by the International Monetary Fund (IMF) are being considered to achieve the goal of providing some benefit to the middle segments like the academia.

In his speech, delivered under the theme “Transforming Sri Lanka’s Higher Education towards a Developed Nation,” President Wickremesinghe also announced a comprehensive reform plan aimed at transforming Sri Lanka’s higher education system as a key strategy to stimulate economic recovery.

President Wickremesinghe emphasized the critical role of higher education in driving the country towards development and highlighted the need for state universities to operate with greater independence to enhance the quality of education.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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