Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka to launch rapid village development program with the money saved from removal of fuel subsidy
Thu, May 10, 2018, 09:14 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 10, Colombo: Sri Lanka's Finance Minister Mangala Samaraweera says a 'GAMPERALIYA' a rapid village development program will be launched with the money saved from the removal of the fuel subsidy.

During the press conference held today at the Treasury to explain the fuel pricing formula, Finance Minister said under the new fuel price formula, fuel prices will adjust every two months. It can increase or decrease depending on the world crude oil prices.

Sri Lanka's Cabinet of Ministers yesterday approved the price formula prepared by the Finance Ministry to raise fuel prices.

However, the Ministry has taken a decision to provide kerosene to the poor people at the old price regardless of the world market price considering their needs.

The Finance Ministry, the Ministry of Fisheries and the Samurdhi Authority will implement a special program to provide kerosene oil at the old price to the small boat owners of the fisher community and poor Samurdhi beneficiaries. The relief program will be implemented from midnight today (10), the Minister said.

Under the program, the subsidy for kerosene will be directly deposited in the bank accounts of the small boat owners and Samurdhi beneficiaries from 1st June.

The Minister further said the measures will be taken to remove the 2.5 percent tax on interests earned from children's' savings accounts up to the age of 18.

Meanwhile, the government has also decided to exempt tax on book advances given to authors by the publishers up to a Rs. 500,000 per year from Rs. 50,000.


ColomboPage - Recent 10 Stories ::
Local politico, four others arrested for stealing water pumps
-- [4 hours ago]
Sri Lanka Cricket to support ICC match fixing probe
-- [4 hours ago]
Operations of two generators of Sri Lanka's coal power plant halted for maintenance
-- [5 hours ago]
Sports Minister appoints a committee to look into amending the Sports Act
-- [7 hours ago]
President tours flood-hit Chilaw area to observe relief operations
-- [7 hours ago]
Death toll from adverse weather in Sri Lanka rises to 20, over 150,000 affected
-- [9 hours ago]
Retired SC judge to conduct an independent inquiry into match fixing allegations
John Keells PBT increases by 21 percent to Rs. 27.63 billion for FY 2017/18
Government allocates Rs. 69 million to provide relief to people affected by adverse weather
India invites applications for Self-Financing Professional Course

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.