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RW slashes military spending from Budget!

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President Ranil Wickremesinghe is to present the Budget for next year (2023) to Parliament as the Finance Minister at 1.30 p.m. today (14).
According to the Appropriation Bill recently submitted to Parliament by the President, the highest amount has been allocated to the Ministry of Public Administration, Provincial Councils and Local Government which is Rs.856 billion.
The Ministry of Defence has been allocated Rs.410 billion while the Finance Ministry has been allocated Rs.613 billion.
Speaker Mahinda Yapa Abeywardena informed Parliament on November 10 that special security measures will be implemented in Parliament today.

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Govt. to set up mechanism to prevent & control forest fires

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Taking into consideration the number of forest fires reported in the recent past, the Cabinet has approved a proposal to implement a programme to prevent the occurrence of forest fires and extinguish forest fires.  

Government said that there is a rapidly increasing risk of forest fire caused by man-made fires around forests, especially during dry weather conditions. 

“This situation is common in Badulla, Kandy, Nuwara Eliya, Matale, Monaragala, Polonnaruwa, Kurunegala, Puttalam and Rathnapura Districts. The number of forest fires reported so far this year is about 150. As a result, around 2,600 hectares of forests have been destroyed,” it said. 

Accordingly, the Cabinet approved a proposal presented by the Forest and Wildlife Conservation Minister to implement a programme with the support of the government and other relevant parties from the national-level to the rural-level to prevent the occurrence of forest fires and extinguish forest fires.

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Cabinet approves proposal to obtain USD 200mn from ADB

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The Cabinet has approved a proposal to obtain an amount of USD 200 million from the Asian Development Bank (ADB) subject to an annual interest rate of 2%.

Initial discussions between the ADB and the Sri Lankan Government were held to obtain two loan facilities worth USD 200 million each based on policies to implement two sub-programmes under the economic stabilization and reformation programme. 

It has been proposed to implement accelerated reformations to enhance the conflict management framework and the stabilization in the finance sector under the first sub-programme while it has been proposed to develop an all-inclusive resistant finance system under the second sub-programme. 

Accordingly, the proposal submitted by the President as the Minister of Finance, to enter into a loan agreement with the ADB to obtain USD 200 million with a repaying period of 25 years inclusive of a grace period of 05 years in relation to the first sub-programme, was approved by the Cabinet.

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This week’s Cabinet decisions

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A number of decisions have been taken at the Cabinet meeting held yesterday (September 25).

The decisions taken by the Cabinet of Ministers are as follows :


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