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Aswesuma Welfare Program to Expand to 400,000 New Beneficiaries President Anura Kumara Dissanayake
President Anura Kumara Dissanayake announced a major expansion of the Aswesuma welfare scheme, pledging to include an additional 400,000 individuals under the program. The move is part of the government’s broader effort to strengthen the country’s social safety nets and extend support to low-income and vulnerable groups. The announcement follows a Cabinet decision on March…
Rice, Egg, Fish, Meat Prices Down, Coconut and Coconut Oil Prices Up Compared to Last Year World Food Programme’s March 2025 Market Monitor
Sri Lanka’s economy expanded by 5.0% in 2024, marking a strong recovery from the 2.3% contraction in 2023, according to the World Food Programme’s March 2025 Market Monitor. The growth was largely driven by the industrial sector, which surged to 11% growth, while services saw modest expansion. However, agriculture lagged, posting a 0.2% annual decline…
The Importance of an Energy Hub in Sri Lanka UAE–India–Sri Lanka Cooperation in Trincomalee
Ajith Perakum Jayasinghe What is an energy hub? An energy hub is a strategically located site for storing, refining, and distributing energy resources such as petroleum, natural gas, and electricity. According to the International Energy Agency (IEA), energy hubs are “key nodes that enable flexible energy flows, ensuring balance and stability across interconnected systems.” Globally,…
Will Tuition Classes Be Taxed Soon? Rs. 210 Billion Annual Tuition Economy Under Scrutiny
According to a report published by the state-owned Silumina newspaper on April 6, the Sri Lankan government is considering the possibility of imposing taxes on tuition classes. The government, which recently increased salaries for public sector employees, is now focusing heavily on boosting tax revenue. Prof. Wasantha Athukorala, Director of the Postgraduate Institute of Humanities…
Bank of Ceylon to Issue Rs. 15 Billion in Debentures Soon Initial issue valued at Rs. 10 billion, with option to extend amid high demand
The Bank of Ceylon (BoC) has announced plans to issue 100 million debentures valued at Rs. 100 each, totaling Rs. 10 billion. The bank also intends to issue an additional 50 million debentures worth Rs. 5 billion if there is high investor demand, bringing the potential total to Rs. 15 billion. Fitch Ratings has assigned…
Electricity Tariffs Set to Increase by 10% Due to CEB Losses Emergency tariff hike proposed ahead of July revision under 2024 regulatory guidelines
In a letter dated March 24, the Chairman of the Ceylon Electricity Board (CEB), Dr. Tilak Siyambalapitiya, informed Deputy Minister of Economic Development Prof. Anil Jayantha Fernando of an urgent electricity tariff hike in accordance with the guidelines issued by the Public Utilities Commission of Sri Lanka (PUCSL) in 2024, Anidda newspaper reported. Copies of…