CBSL Bill presented to parliament
The Central Bank of Sri Lanka Bill was presented to the Parliament today (07) by the Leader of the House and Minister – Susil Premajayantha for its first reading.
This Bill was presented for ancillary matters including the establishment of the Central Bank of Sri Lanka in order to provide financial and administrative independence, and the removal of the Monetary Law Act currently established by the Central Bank.
According to the new Bill, the autonomy of the Central Bank shall be respected at all times and no person or entity shall cause any influence on the Governor of the Central Bank or other members of the Governing Board and Monetary Policy Board or employees of the Central Bank in the exercise, performance and discharge of their powers, duties and functions under this Act or interfere with the activities of the Central Bank.
Moreover, the Bill entails that the primary object of the Central Bank shall be to achieve and maintain domestic price stability.
In addition, a ‘Board of Governors’ will be established to supervise the administration and management of the affairs of the Central Bank and to decide the general policies of the Central Bank other than monetary policy. Its chairman shall be the Governor of the Central Bank and six members with expertise will be appointed to it.
YOU MAY LIKE
-
3 injured during IUSF protest, hospitalised
-
Dates tax relief ahead of Ramadan
-
Weeraketiya clash : 7 remanded
-
8 SOCs to meet for the first time on March 08 – 09
-
China officially hands over financial assurance letter
-
SL Rupee appreciates further
Three persons including a police officer had been hospitalized after being injured during today’s (07) protest organized by the Inter-University Students Federation (IUSF).
According to a hospital spokesperson, the police officer, an university student and a journalist are being treated at Ward No. 72 after being injured.
Tear gas and water cannons were fired at the protest held in front of Colombo University.
(Pic: Thilina Kaluthotage)
On behalf of the upcoming Ramadan festival, President Ranil Wickremesinghe has issued an order to reduce the Special Commodity Levy imposed on Dates from Rs.200 to Rs.1 per kg.
The waiver only applies to Dates received as a gift or donation, without any foreign exchange involved, from foreign governments, organizations, business entities, volunteer associations, well-wishers, the President’s Media Division notes.
The seven civilians who were arrested over the clash in Weeraketiya have been remanded until March 21.
The clash had broken out when residents at Attanayala in Weeraketiya had allegedly obstructed police from carrying out their duties.
The situation arose when a group of police officers had visited the area last evening (March 06), and had proceeded to search a group of people who were waiting by the road, due to suspicion.
However, the said group of individuals had objected to the attempt to search them, which later led to an argument with the police officers before the incident had escalated into a brawl.
Eight police officers and two civilians were injured in the incident.
