AKD to deliver growth oriented Budget today

President and Finance Minister Anura Kumara Disanayake will today afternoon unveil his Government’s first fully fledged Budget amidst pressure to reignite economic growth and incomes via higher investments and exports which will also generate new jobs.

Analysts opined that the phase of natural growth after two years of contraction and stability was over and the country needs a fresh round of stimulus.

Despite having the best-ever macroeconomic indicators post-Independence and political stability with a Government intent on good and clean governance, foreign investors haven’t queued up to tap prospects in Sri Lanka internally, as well as regionally—especially the Indian market and elsewhere.

However, proving the ground situation is different, the Board of Investment (BOI) last month revealed that up to September, the realised Foreign Direct Investment (FDI) was up 138% year-on-year (YoY) to $ 827 million. However, it was inclusive of equity capital of $ 133 million, reinvested retained earnings of $ 132 million, intra-company foreign borrowings of $ 231 million, and long-term commercial loans of $ 331 million.

Some critics said that Sri Lanka needs fresh green field FDIs and pointed to Disanayake appointing proven business leader Hanif Yusoof as special Presidential envoy for that task as proof of the bigger challenge.

In that context, the 2026 Budget is expected to announce new incentives to boost investments despite strictures from the International Monetary Fund (IMF) to desist. The Government is speculated to offer relief on the tax burden on the middle-income segments as well, though rates won’t be altered.

In September, a World Bank report slammed Sri Lanka’s Value Added Tax (VAT) hike as among reasons for a dramatic rise in poverty.

Previously, the IMF had maintained that the Government can be flexible as long as it meets Extended Fund Facility (EFF) program targets. The confidence within the Government to be flexible also stems from the robust Government revenue so far in 2025. The Inland Revenue Department (IRD) has exceeded its tax revenue target for the first nine months of 2025, collecting 102% of the estimate. It collected Rs. 1.64 trillion by the end of September, against an expected Rs. 1.61 trillion, reaching 75% of its full-year goal of Rs. 2.19 trillion. Customs too has marked its highest collection of Rs. 2 trillion by end-October and is poised to surpass the 2025 target of Rs. 2.115 trillion.

Other analysts emphasised that the Government needs to step up ease of doing business, liberalisation, and reforms, which are more credible measures to boost investments than mere incentives.

Given the poor performance of public investments and capital expenditure in 2025, they also stressed that President Disanayake must come up with firm measures to speed up decision-making and implementation of proposals by bureaucracy.

The disbursement of the sixth tranche worth $ 347 million under the IMF is pending approval from the IMF Executive Board and will depend on the 2026 Budget successfully passing in Parliament and meeting required criteria, with a potential release scheduled for December 2025.

Expectations from equity investors appear to be positive. The Colombo stock market yesterday surged past the 23,100-points mark and gained by 159 points ahead of the Budget 2026 presentation.

MRIA’s operations cost 14 times higher than income in 2024

The Mattala Rajapaksa International Airport (MRIA) has recorded an operating cost of Rs. 3,600.8 million, nearly 14 times higher than its operating income of Rs. 242 million, the 2024 audit of Airport and Aviation Services (Sri Lanka) (Private) Limited (AASL) revealed.

This resulted in an operating loss of Rs. 3,358.6 million, although a net profit of Rs. 879.7 million was reported due to foreign exchange gains. Cumulative net losses from 2018 to 2024, however, amounted to Rs. 39,369 million.

Despite an expected annual passenger capacity of one million, only 321,577 passengers used the airport over six years, with a total of 3,596 flight movements.

The audit noted that Rs. 36,564 million (USD 247.7 million) spent on construction—including price escalations and variations—had not been effectively utilized.

In addition, Rs. 2,053 million was paid as annual loan interest for the USD 190 million foreign debt obtained for construction.

The audit recommended that AASL take steps to operate and upgrade MRIA efficiently and profitably.

In response, the management stated that with a proposed cancellation of the Cabinet decision on handing over operations, they plan to call for fresh investments through expressions of interest or RFPs for aviation-related business across nine specified areas.

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President AKD to present 2026 Budget in Parliament tomorrow

The second reading of the Appropriation Bill for the year 2026, commonly referred to as the Budget Speech, is scheduled to take place tomorrow (07).

President Anura Kumara Dissanayake, in his capacity as Minister of Finance, is expected to deliver the second reading of the bill in Parliament tomorrow afternoon.

Following this, the budget debate will be held over six days, starting from November 8, with the vote on the second reading scheduled for Friday, November 14, at 6:00 pm.

The Committee Stage Debate is set to begin on November 15 and continue for 17 days, with the vote on the third reading scheduled for December 5 at 6:00 pm.

Chemmani mass grave investigation finds shoe dates back to pre-1995 period

An ongoing investigation into the Chemmani mass grave in Jaffna has confirmed that a shoe recovered from the site dates back to before 1995.

Attorney Niranjan confirmed the finding following an on-site inspection of the Chemmani site on Monday.

According to his statement, a shoe bearing a price tag of 39 rupees and 90 cents was unearthed during excavations.

Subsequent inquiries with the manufacturer revealed that this model had only been sold between 1985 and 1995, confirming that the item predates 1995.

Meanwhile, the Judicial Medical Officer (JMO) has completed a cost-assessment report for the examination of 239 skeletal remains recovered from the site during two phases of excavation.

The examinations are expected to commence once the report is submitted to court, approved, and funds are released.

A panel of seven forensic experts has been proposed to lead the analysis, including Dr Sellaiya Pranavan, who served as JMO during the excavations, and Dr Mayutharan of Jaffna Teaching Hospital.

Specialists who previously worked on mass grave investigations, such as those at Kokkuthoduvai, have also been recommended for the panel.

The Chemmani mass graves were first uncovered in 1998, when a Sri Lankan soldier on trial for the rape and murder of a Tamil schoolgirl testified that hundreds of Tamils who had disappeared following the army’s capture of Jaffna in 1996 had been buried there.

Excavations have since unearthed several remains, but calls for a full, transparent investigation have been repeatedly obstructed by the state.

Families of the disappeared and human rights organisations continue to demand accountability, insisting that justice for the Chemmani victims is inseparable from the broader struggle to uncover the truth about the tens of thousands of enforced disappearances across the Tamil homeland.

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Sajith backs India’s bid for permanent UN Security Council seat

Leader of the Opposition Sajith Premadasa has backed India’s long-pending bid for a permanent seat at the United Nations Security Council (UNSC), calling it a recognition of “global power realities” and that he will continue to support that effort.

In an interview with ANI during his ongoing visit to India, Sajith Premadasa said India’s inclusion in the UNSC “would be a recognition of the practical realities of international politics.”

“Years before, it was I who spoke openly about India being given a permanent seat in the UN Security Council. So it’s an old topic for me,” he said. “I will continue to support that effort, and I think that is a practical exposition of global power realities. You cannot discard India. You cannot marginalise India. India’s representation at the UNSC would be a recognition of the practical realities of international politics.”

Opposition Leader Premadasa’s comments come at a time when India continues to push for reforms in the UNSC to make it more representative of emerging powers and developing nations.

When asked about Sri Lanka’s stance amid the complex India-China dynamic, Premadasa emphasised that Colombo values its “special strategic relationship” with New Delhi while maintaining ties with all nations.

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Sri Lanka risks losing USD 70 million debt relief– Verité Research

Sri Lanka may lose out on USD 70 million in potential debt relief under its Governance-Linked Bond (GLB) due to a fiscal planning oversight, according to Verité Research.

The interdisciplinary think tank noted that while the Government’s revenue targets for 2026 and 2027 align with the latest IMF projections, they fall just short of the thresholds required to trigger the GLB-linked debt relief.

For 2026 and 2027, the Government has projected revenue levels of 15.2% and 15.3% of GDP, respectively—slightly below the GLB targets of 15.3% and 15.4%.

Verité Research warned that this marginal shortfall could cost the country the USD 70 million relief, underscoring the need for greater precision and ambition in fiscal planning to maximize available debt benefits.

PMK founder Ramadoss demands voting rights for Sri Lankan Tamils

PMK founder S Ramadoss has urged the Central and State Governments to take immediate steps to grant voting rights to Sri Lankan Tamils residing in Tamil Nadu.

In his statement, the senior leader said that over one lakh Sri Lankan Tamils fled to Tamil Nadu since 1983, when the civil war in Sri Lanka forced them to abandon their homes and livelihoods. Today, they continue to live in 116 refugee camps across the State, yet remain deprived of basic rights and freedom.

He noted that a generation born and educated in India still cannot apply for government jobs due to legal restrictions and continue to survive on meagre government aid and daily wages. Despite India allowing citizens of countries like Nepal and Bhutan to apply for jobs, Tamils with ancestral ties are denied similar rights, he said.

Ramadoss pointed out that the refugees wish to live permanently in India, as their lives and livelihoods in Sri Lanka have been destroyed. He urged that during the ongoing voter roll revision in Tamil Nadu, eligible Sri Lankan Tamils should be granted voting rights to ensure political representation and a dignified life.

In another statement, Ramadoss has urged all party functionaries to actively cooperate in the ongoing voter list revision (SIR) across Tamil Nadu, ensuring eligible voters are included and ineligible names removed, while strictly following Election Commission guidelines and assisting officials peacefully and responsibly.

Source: DT Next

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Several Former MPs to Be Indicted over GotaGoGama Attack

The Attorney General’s Department informed the Supreme Court today that 31 suspects, including several former Members of Parliament, have been identified in connection with the violent attack on the GotaGoGama protest site at Galle Face on 9 May 2022.

Senior State Counsel Sajith Bandara, representing the Attorney General, made the disclosure during the hearing of five Fundamental Rights petitions filed by protestors over the incident.

Bandara told the court that the Attorney General expects to file indictments shortly against all 31 suspects under the Criminal Procedure Code. The attack, which targeted peaceful demonstrators, was among the most violent episodes during the 2022 protest movement.

The petitions allege that the police failed to prevent or control the attack, thereby violating the fundamental rights of those gathered at the site. Counsel for the petitioners argued that the incident was aggravated by the inaction of police officers on the ground, despite their significant presence and the availability of water cannons.

Responding to these submissions, Senior State Counsel Bandara acknowledged that although a large contingent of police officers had been deployed, they were not effectively utilised at the time. He confirmed that legal action is being taken against then Senior Deputy Inspector General of Police (SDIG) Deshabandu Tennakoon, who was the most senior officer present, for dereliction of duty.

The petitions were heard before a three-judge bench of the Supreme Court comprising Chief Justice Preethi Padman Surasena, Justice Shirani Gunaratne, and Justice Achala Wengappuli.

The Attorney General’s Department assured the court that investigations have progressed and that indictments will be filed in due course.

Jaishankar meets Sri Lankan Opposition Leader Sajith Premadasa, discusses ties and regional cooperation

Indian External Affairs Minister S. Jaishankar on Tuesday met Sri Lankan Opposition Leader Sajith Premadasa in New Delhi and reaffirmed India’s commitment to supporting Sri Lanka’s progress and development under its “Neighbourhood First” policy.

“Pleased to meet Leader of Opposition @sajithpremadasa of Sri Lanka. Discussed India-Sri Lanka relations and our Neighbourhood First policy. India will always be supportive of progress and development in Sri Lanka,” Jaishankar said in a post on X after the meeting.

Earlier in the day, Premadasa attended a talk at Sapru House, organised by the Indian Council of World Affairs (ICWA), where he addressed key aspects of India-Sri Lanka bilateral relations, including the long-standing fishermen issue.

Calling the fishermen issue between India and Sri Lanka a “very important” and long-standing one, Sri Lankan Opposition Leader Sajith Premadasa has said that both countries must cooperate to establish a proper, workable framework guided by international law to address the matter.

“The fishing issue is very important. The two countries must cooperate and establish a proper, workable framework — one that is based on fact and substance,” Premadasa said in a reply to a question by ANI at an event titled ‘India-Sri Lanka Bilateral Relations’ here.

“There are international laws and regulations under the UN Convention on the Law of the Sea (UNCLOS) concerning the continental shelf and high seas, which must be respected. It is important to ensure that illegal, unregulated, and unreported fishing is addressed in line with these legal prescriptions,” he added.

Acknowledging the livelihood concerns of fishermen, Premadasa said both governments must ensure that income-generation activities withstand the test of law.

“We understand that this involves the livelihood of households, but it is equally important to ensure that all such income-generation methods are lawful. Rather than operating without a clear and permanent framework, both sides should work together toward a lasting solution,” he said.

His remarks come amid continued tensions between the two nations over fishermen from Tamil Nadu entering Sri Lankan waters near Katchatheevu, often resulting in arrests and maritime boundary disputes.

Earlier, Sri Lankan Prime Minister Harini Amarasuriya, after meeting with Prime Minister Narendra Modi last month, described the issue as a “sensitive one” and said both countries would continue discussions to find a practical solution.

“We need to protect the livelihoods of our fishermen as well, but we understand that it’s a sensitive issue, and we will continue to talk about it,” Amarasuriya said.

The fishermen issue remains one of the most contentious aspects of India-Sri Lanka relations, with Sri Lankan Navy personnel in the past accused of firing at Indian fishermen and seizing their boats over alleged illegal entry into the island nation’s territorial waters.

The Palk Strait, a narrow strip of water separating Tamil Nadu from Sri Lanka, is a rich fishing ground for fishermen from both countries.

Source: ANI

Retired HC judge says he was denied promotion

Retired High Court judge Manikavasagar Illancheliyan recently said that he had been deprived of an opportunity to serve for four more years for no fault of his.

Illancheliyan presided over many high profile criminal cases including the rape and murder of Sivaloganathan Vithya. He was the target of a failed assassination attempt in July 2017 near the Nallur Kovil in Jaffna where the police officer escorting him was killed.

Addressing a gathering in London, Illancheliyan said that he had been the President of High Court Judges’ Association and topped the Association’s seniority list of 90 high court judges.

Illancheliyan recalled that Anura Kumara Dissanayake was elected the President on 21 September 2025. He as the President of High Court Judges’ Association, wrote to the President asking for an opportunity to meet him. He was kind enough to give us an opportunity and we, ten high court judges, met him at the Presidential Secretariat on 28 November 2024. My colleagues reminded the President that my retirement date was 20 January 2025 and stressed the need to expedite the promotion of High Court Judges as three vacations – court vacation, Christmas vacation and News Year vacation were to fall before my retirement. The President was joyful and he also posed for a photograph with me. On 12 January 2024, four Appeal Court judges were promoted as Supreme Court judges and there were four vacancies for Appeal Court judges and I had only eight days left for my retirement. On 13 January 2025, the President, comrade Anura Dissanayake left the country for China. It was my misfortune. He returned to the country on 18 January 2025. The following day was Sunday and I retired the next day, Monday. If I had been promoted I would have stayed in service for four more years. I wrote four letters to the President telling him I did not willingly go on retirement but I was forced to retire. I did not get any reply from him. The President is a good person. Something went wrong. I’m a retired judge. I do not blame anybody. The injustice can still be rectified but no interest was shown, said retired High Court judge Manikavasagar Illancheliyan speaking before the Tamil Community in London. He nearly moved to tears.

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