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Sri Lanka signs for 25-yr. US$100mn budget support loan

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Sri Lanka has signed an agreement with the Asian Development Bank (ADB) to borrow a 100 million US dollar budget support loan, linked to power sector policy reforms, the Finance Ministry said.

The loan has an interest rate of 2.0 percent and will be repaid over 25 years including a 5 year grace period.

Treasury Secretary Mahinda Siriwardana and ADB Sri Lanka Country Director Takafumi Kadono signed the agreement.

The loan is Subprogram 01 of a 300 million dollar policy based loan program linked to power sector reforms.

The reforms support independent and financially sustainable electricity utilities, and “streamlined and accelerated development” of renewable energy.

(economynext.com)

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Bill to scrap MPs’ pensions, to be tabled in Parliament in July

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The government has decided to present a bill to abolish pensions for Members of Parliament at the upcoming Cabinet meeting.

Minister of Public Security and Parliamentary Affairs, Ananda Wijepala, stated that the bill has been finalized by the Legal Draftsman and is scheduled to be tabled in Parliament next month.

In addition, the Minister announced that the issuance of vehicle licenses to MPs has also been suspended, as part of broader efforts to reduce public expenditure and restore trust in political accountability.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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Halloluwa further remanded

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Former Executive Director of the National Lotteries Board – Thusitha Halloluwa, was further remanded until June 13 by the Fort Chief Magistrate’s Court today (June 06).

Halloluwa remains in custody in connection with an ongoing case involving the alleged criminal misappropriation of government assets belonging to the National Lotteries Board.

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03 others granted bail over passport forgery linked to Kehelbaddara Padme

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Colombo Chief Magistrate Tanuja Lakmali today (06) ordered the release on bail of the Immigration and Emigration Controller and two photographers accused of assisting in the illegal preparation of a foreign passport for Kehel Baddara Padme, a notorious drug trafficker and underworld gang member currently based in Dubai.

Court granted bail to each suspect under two surety bonds of Rs. 1 million and imposed a travel ban, preventing them from leaving the country.

In addition, the Chief Magistrate ordered the two photographers to appear before the Criminal Investigation Department (CID) on June 13 to provide statements regarding the incident.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

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