President Anura Kumara Dissanayake has instructed officials to ensure that all housing projects planned under the 2026 Budget allocations are completed within the stipulated timeframes and handed over to the public without delay. 

The President also emphasized the need to bring the monitoring and supervision of these projects under a single coordinating institution to ensure efficiency and accountability. 

The President made these remarks during a discussion held at the Presidential Secretariat today (02 Jan) with officials of the National Housing Development Authority (NHDA) to review the planning and current status of housing projects, including the national housing programme titled “A Place to Belong – A Beautiful Life,” to be implemented under the 2026 Budget.

During the meeting, the President closely reviewed the planning, current progress and target completion timelines of a Rs. 10,200 million housing project for low-income families and a Rs. 5,000 million housing project for communities displaced due to the conflict, both to be implemented under the 2026 Budget provisions. 

Attention was also drawn to housing projects initiated in previous years under the NHDA that have yet to be completed, with emphasis placed on expediting their completion. 

The discussion was attended by Minister of Housing, Construction and Water Supply, Susil Ranasinghe, Deputy Minister of Housing, Construction and Water Supply, T.B. Sarath, Senior Additional Secretary to the President, Russell Aponsu, Secretary to the Ministry of Housing, Construction and Water Supply, Engineer L. Kumudu Lal Bogahawatta, Director General of the National Budget Department of the Treasury, Jude Nilukshan, Chairman of the National Housing Development Authority, J.K. Aravinda Srinath along with senior officials from the National Housing Development Authority and the Ministry of Finance. (Newswire)

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The second reading of the Appropriation Bill for the 2026 financial year was passed in Parliament today with a majority of 118 votes. 

A total of 160 MPs voted in favour of the Budget 2026, while 42 MPs voted against it, and 08 MPs abstained from voting. 

Opposition MPs Mano Ganesan, Palani Digambaram, Jeevan Thondaman and P. Radhakrishnan voted in favour of the budget 2026. (Newswire)

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The Illankai Tamil Arasu Kadchi (ITAK) will abstain from voting on the second reading of the Budget 2026, Batticaloa District MP Shanakiyan Rasamanickam informed Parliament today.

Addressing the Parliament, MP Shanakiyan said that the ITAK had decided a week ago to vote against the Budget 2026, as the government had failed to heed issues regarding the Tamil community.

MP Shanakiyan said, however, the President had agreed to a meeting with the ITAK next week to discuss the party’s concerns.

Stating that it is only a year since the government came into power, the MP said they have a few more years to discuss and resolve the issues. 

“We still have hope in the President. We will not vote for or against the government today, only because, as a measure of goodwill, trusting the President and putting our faith in the President, that the President will resolve our issues, will listen to us, and that he will look after the Tamil peoples’ political issues. Also that the President will bring in a new constitution that will include the Tamil peoples’ aspirations. At least in the coming few months, the President will listen to the victim community on the accountability issues and will act on the land issues. This is only because we want to engage as a goodwill gesture,” he added. 

MP Shanakiyan said that the ITAK’s abstention from voting today is a serious message to the world that the party was still trying to work with the government and wants to work with them. (Newswire)

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The draft report prepared in accordance with Standing Order 121(5)(i) of Parliament regarding the Appropriation Bill for the Financial Year 2026 was taken up for consideration at a meeting of the Parliamentary Committee on Public Finance (COPF).

The report had been prepared by the technical team of the Committee on Public Finance and presented to the Committee for consideration, during a discussion that in Parliament recently (11), under the chairmanship of MP Harsha de Silva.

According to the report, the Appropriation Bill for the Financial Year 2026 has been prepared in line with the requirements stipulated under the Public Financial Management (PFM) Act, the Public Debt Management (PDM) Act, and the International Monetary Fund (IMF) program.

It further notes that revenue in 2025 exceeded expectations by Rs. 100 billion due to higher-than-expected income from vehicle import taxes, thereby providing greater ease in preparing financial plans for 2026. However, it is also expected that revenue growth in 2026 will slow down due to a decline in vehicle imports. The report is scheduled to be presented to Parliament.

Subsequently, discussions were also held with representatives of civil organizations regarding the Appropriation Bill for 2026. During these discussions, the representatives presented their views on the transparency of the budget, the allocation of funds among various sectors, the issues currently identified, and their related proposals.

COPF Chairman MP Harsha de Silva stated that these views and proposals will be referred to the Ministry of Finance for necessary action.

Deputy Ministers Chathuranga Abeysinghe and Nishantha Jayaweera, and Members of Parliament Ravi Karunanayake, Ajith Agalakada, Chitral Fernando, Wijesiri Basnayake, Sunil Rajapaksha, Thilina Samarakoon, and Lakmali Hemachandra, were present at this committee meeting. (Newswire)

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Specialist doctors from across the country have been summoned to the headquarters of the Government Medical Officers’ Association (GMOA) this week, for urgent discussions and decision-making in response to the proposed 2026 national budget, which has sparked widespread concern over injustices faced by medical professionals and the public health sector. 

Issuing a statement, the GMOA states that the budget appears to undermine Sri Lanka’s free healthcare system, pushing it from resilience to collapse. 

Doctors have already faced multiple salary cuts in both the current and previous budgets.  The GMOA warns that these short-sighted decisions risk accelerating the brain drain of skilled professionals.

Specialist doctors, who shoulder high-risk, island-wide responsibilities, continue to cover multiple hospitals without special allowances or coverage incentives, often working under severe strain to maintain uninterrupted patient care.

Unlike other public service grades, these doctors do not receive transport or fuel allowances, and many spend more than half their salary on travel to serve in remote hospitals. The removal of tax relief permits and the lack of budgetary solutions for essential service needs have created a deeply unsettled environment among specialists.

The GMOA also criticized the Health Minister’s contradictory appeal for overseas-trained specialists to return to Sri Lanka, while simultaneously cutting salaries and benefits for those already serving. One returning specialist has reportedly been denied the opportunity to enroll his children in a government school, highlighting the systemic neglect of returning professionals.

If such short-sighted policies continue, the GMOA warns that Sri Lanka’s globally respected free healthcare system will face irreversible decline.

The GMOA reaffirmed its commitment to protecting free healthcare and the rights of medical professionals, and announced that a series of trade union actions will begin next Monday if the government fails to respond meaningfully.

As a precursor, all specialist doctors nationwide have been summoned to the GMOA headquarters in Colombo on Friday (14) to discuss the challenges they face and determine the future course of action, including potential service disruptions and union mobilization. (Newswire)

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The Parliament will meet for 17 days for the committee stage debate on the government’s budget for the year 2026.

According to a Parliament statement, the Parliament will convene in November and December. 

The schedule is as follows;

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Former Minister of Foreign Affairs and Finance Ali Sabry has praised the National People’s Power (NPP) Government for staying on course with the International Monetary Fund (IMF) parameters in the Budget 2026. 

Issuing a statement, former MP Ali Sabry said President Ranil Wickremesinghe’s administration took decisions that few would dare to take in the face of public anger, decisions that cost him the presidency but saved the nation from bankruptcy.

He pointed out that yesterday’s budget presented by President Anura Kumara Dissanayake is the continuation of the same path, determined to stay on course with IMF parameters. 

“Yet, leadership is also measured in continuity, in the ability to recognize what must endure beyond political rivalry. And that is where President Anura Kumara Dissanayake deserves genuine credit. To continue these very same reforms, which his movement once fiercely opposed, is no small act of courage,” Sabry said. 

The full statement of former minister Ali Sabry;

Economic recovery does not happen by accident. It is not a gift of chance or the outcome of a single leader’s charisma; it is built through consistency, sacrifice, and courage across time.

When Sri Lanka entered the IMF program in 2022, the nation stood on the edge of collapse. 

The roadmap was demanding, even brutal:

• Reduce public debt from 119% to 95% of GDP by 2029,
• Cut Gross Financing Needs from 13.7% to 9%,
• Limit foreign debt service to 4.5% of GDP,
• Raise government revenue to 15% in the medium term, aiming for 18–20% in the long run,
• Maintain a primary surplus of 2.3% of GDP, and
• Reform loss-making State-Owned Enterprises through cost-reflective pricing.

By the end of 2023 and 2024, Sri Lanka had achieved most of these targets, not by magic, but by sheer political courage. The income tax bracket doubled from 18% to 36%, PAYE tax was reintroduced, VAT climbed from 8% to 15% and then 18%, and its threshold was halved to widen the tax net. 

It was made mandatory to have TIN number to open a bank account, buy a vehicle and purchase property, thus expanding the tax net. 

Fuel, electricity, gas, and water were priced to reflect their true cost, despite social resistance. These measures restored confidence, reopened IMF flows, and rebuilt credibility in international markets, but they came at a heavy political price.

President Ranil Wickremesinghe’s administration bore that burden. He took decisions that few would dare to take in the face of public anger, decisions that cost him the presidency but saved the nation from bankruptcy.

Yesterday’s Budget presented by President AKD is the continuation of the same path, determined to stay on course with IMF parameters. 

Yet, leadership is also measured in continuity, in the ability to recognize what must endure beyond political rivalry. And that is where President Anura Kumara Dissanayake deserves genuine credit. To continue these very same reforms, which his movement once fiercely opposed, is no small act of courage.

Payee remains, VAT 18% remains, elevated Income Tax slabs remain, and the VAT threshold is reduced further. Cost reflective pricing continues, and people still pay Rs. 100 as tax per litre of fuel to pay for the past losses. All sensible, necessary, yet unpopular decisions were made when they were taken. 

It takes immense courage and a touch of irony to desert ideology and embrace pragmatism. To move from fiery opposition to fiscal orthodoxy, from railing against taxation to defending it, is a transformation not often seen in politics. One must almost admire the conversion, for while it may lack romance, it redeems itself in responsibility. And for that, the President and his government deserve due credit.

By choosing pragmatism over populism, President Dissanayake has shown that he values the country’s future above political comfort. His government’s decision to stay the course, maintaining fiscal discipline, sustaining SOE reforms, and resisting the populist temptation to reverse hard-earned stability despite the election promises to do so is commendable.

Sri Lanka’s progress today is the outcome of continuity, not a miracle. The least we owe the truth is to tell it as it is, without rewriting history to suit the day’s applause.

The rising tax revenues, renewed investor confidence, and reopening of vehicle imports are not isolated victories of one regime or another. They are the cumulative result of continuity, of two administrations separated by politics but united by necessity.

So, by all means, let’s celebrate stability, but let’s not forget who swallowed the bitter pill so that the next could taste recovery. The numbers remember, even if politics forgets.

Sri Lanka is, once again, learning the timeless truth of nation-building: that progress has no ideology. It only rewards those willing to do the right thing, whether or not it wins them applause.

In my case and in the case of the majority of the Sri Lankans, it doesn’t matter who governs as long as it is in the interest of the nation. (Newswire)

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The government has made 09 key revenue proposals in the Appropriation Bill for the 2026 financial year.

Addressing the Parliament today, President Anura Kumara Dissanayake outlined the following revenue proposals;

• Imposition of Value Added Tax (VAT) and Social Security Contribution Levy on imported coconut oil and palm oil;

It has been proposed to remove the Special Commodity Levy on imported coconut oil and palm oil, and instead implement the general tax structure, including Value Added Tax (VAT), Effective from April 2026.

• Reduction of the registration threshold of Value Added Tax and Social Security Contribution Levy:

The government has proposed to reduce the annual turnover threshold for registration from Rs. 60 million to Rs. 36 million Value Added Tax (VAT) and Social Security Contribution Levy, effective from 01 April 2026. 

• Removal of CESS and imposition of VAT on imported fabric:

It has been proposed to remove the CESS of Rs. 100 per kg and impose VAT on imported fabric, effective from 01 April 2026.

• Imposition of Social Security Contribution Levy on vehicles:

The government has proposed charging the Social Security Contribution Levy at the time of import, manufacture, and sale of vehicles and exempting the tax at the time of after-sales, effective from April 2026. 

• Implementation of the National Tariff Policy:

It has been proposed to revise Customs Import Duty rates to 0%, 10%, 20%, and 30% under the National Tariff Policy, with a phased plan to gradually eliminate para-tariffs while minimizing revenue loss.

• Improving the Tax Audit Process

The government will introduce a modern tax audit framework effective on the returns filed from January 2026. These reforms will streamline audit procedures and reduce the illegal connections between the taxpayers and officials. 

• Amendments to the Telecommunications Tax Act

It has been proposed in the Budget 2026 to amend the Telecommunications Tax Act to reflect the changes made from time to time in relation to telecommunication taxes, such as the inclusion of bad debt incurred by a service provider. 

• Development of the National Electronic Invoicing System

Introduce the API-based integrated framework to enable seamless connectivity between the Taxpayers’ Enterprise Resource Planning (ERP) and the Revenue Administration Management System (RAMS), following a pilot project within this year. 

• Establishment of the Department of Inland Revenue in a single office premises:

It has been proposed to allocate Rs. 2000 million to establish a new office complex after selecting a suitable location and conducting a feasibility study. (Newswire)

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President Anura Kumara Dissanayake said that Rs. 11,000 million is required to settle the outstanding arrears of statutory allowances, such as the Employees’ Provident Fund (EPF), Employees’ Trust Fund (ETF), Gratuity allowances and taxes of 10 state institutions. 

The institutions are: 

1. Lanka Sugar Company (Private) Limited
2. Janatha Estates Development Board
3. Sri Lanka State Plantations Corporation
4. Sri Lanka Rupavahini Corportaion
5. Ceylon Fisheries Corporation
6. National Livestock Development Board
7. Elkaduwa Plantations Limited
8. Sri Lanka Broadcasting Corporation
9. North Sea Limited
10. Ceylon Ceramics Corporation

It has been proposed to pay these unpaid statutory payments in phases and to allocate Rs. 5000 million for the year 2026. (Newswire)

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President Anura Kumara Dissanayake says steps have been taken to recommence numerous road development projects that were suspended due to the economic crisis, resulting in various complications.

Presenting the Appropriation Bill for the 2026 financial year in Parliament today, the President said measures have been taken to resolve the issues and recommence the implementation of these projects. 

The projects to be recommenced are as follows; 

• Central Expressway Phase 1-

The government has decided to provide financial facilities for the construction of the Kadawatha- Mirigama section of the Central Expressway. Development work has already commenced, with the state having allocated Rs. 66.150 million for the year 2026.

• Central Expressway Phase 3-

The construction of the Pihtuhera- Rambukkana section of the Central Expressway Phase 3 from Pothuhera- Galagedera is slated to be completed in the first quarter of 2027. The government has allocated Rs. 10,500 million for this purpose.

It has been proposed to commence construction work on the Rambukkana- Galagedera section using domestic funding from the Road Development Authority. The government has allocated Rs. 20,000 million for this purpose. 

• Katugasthota-Galagedera road section-

The necessary feasibility studies for the widening of the Katugasthota-Galagedera road section are scheduled to commence next year. In parallel with the construction of the Kandy Multi-Modal Transport Centre, provisions have been made in this budget to widen and upgrade several access roads leading to Kandy City. 

• Kurunegala- Dambulla proposed expressway-

The government has allocated Rs. 1000 million to complete the land acquisition process for the proposed Kurunegala- Dambulla expressway, which has already commenced. 

• Ruwanpura Expressway – First section of Kahathuduwa to Ingiriya:

It has been proposed to reassess the improvement of the existing access road from Kahathuduwa to Ingiriya, based on a review of the feasibility study conducted in 2018 and further analysis of the information derived from the study. The government has allocated Rs. 1500 million for this purpose. 

• Feasibility study on the construction of the link between the Port Access Elevated Highway and the Marine Drive extension:

The government has allocated Rs. 330 million to conduct a feasibility study on constructing a link between the Port City end of the Port Access Elevated Highway and the Marine Drive. (Newswire)

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05.56 pm:

“We will build a nation that is not only economically prosperous but also morally proud, globally respected and endowed with broad humanitarian qualities,” President Anura Kumara Dissnayake said, concluding the 2026 Budget speech.

05.50 pm:

President Anura Kumara Dissanayake said the borrowing limit for 2026 has been revised down by Rs. 60 billion to Rs. 3,740 billion, reflecting updated revenue estimates from the budget proposals.

05.40 pm:

The President says, Rs. 2,000 million has been allocated to establish a new office complex for the Department of Inland Revenue, bringing all operations under one roof to improve service delivery, support digitalization, and enhance the efficiency and sustainability of tax collection.

Sri Lanka is developing a national e-invoicing system using API-based integration between taxpayers’ ERP systems and RAMIS, according to the President. 

Following a pilot phase, it will expand to export-oriented firms, then all VAT-registered taxpayers, and later to POS machines for real-time transaction tracking and improved VAT compliance.

The President says amendments will be made to the Telecommunications Tax Act to ensure bad debts and recoveries are reflected in levy payments. 

Legal provisions will also be introduced to allow tax authorities to share information with enforcement agencies under the AML/CFT framework and strengthen measures for prosecuting tax-related crimes.

05.30 pm:

President Dissanayake said a modern tax audit framework will be introduced for returns filed from January 2026, using risk-based selection to improve transparency, reduce discretion, and curb corruption.

The President said Customs Import Duty rates will be revised to 0%, 10%, 20%, and 30% under the National Tariff Policy, with a phased plan to gradually eliminate para-tariffs while minimizing revenue loss.

The Social Security Contribution Levy on vehicle sales will be collected at the point of import, manufacture, or initial sale, and exempted from after-sales. 

“There will be no change in the tax, but the manner in which the tax is collected has changed. There is no new tax, but if there was an opportunity to evade the social security tax, that would be prevented,” the President explained.

Effective April 1, 2026, CESS on imported fabric will be removed, and VAT will be imposed to align with the treatment of locally manufactured fabric, the President said.

05.23 pm:

To broaden the tax base, the government proposed to reduce the annual turnover threshold for VAT and Social Security Contribution Levy registration from Rs. 60 million to Rs. 36 million, effective April 1, 2026.

The President says it is proposed to remove the Special Commodity Levy on imported coconut oil and palm oil and apply the general tax structure, including VAT, starting April 2026.

The total number of registered taxpayers has increased by 300,000 as of September 30, 2025, compared to 2024, the President said.

The President says it is proposed to grant permanent appointments to all employees with over six months of service who meet the criteria outlined in Public Administration Circulars 25/2014 and 29/2019.

05.17 pm:

President Dissanayake said Rs. 250 million has been allocated to double the monthly allowance for 1,000 railway gatekeepers at unsafe crossings from Rs. 7,500 to Rs. 15,000 for an eight-hour shift.

To support teachers in remote areas, their allowance will be increased by Rs. 1,500 after 20 years, the President said.  

Principal allowances will also rise by Rs. 1,500 in recognition of their leadership roles, with Rs. 1,000 million allocated for this purpose.

The President says Agrahara insurance contributions for public servants will increase, with the minimum contribution rising by Rs. 75, and Rs. 300 and Rs. 600 contributions increased by Rs. 150. 

The festival advance for government employees will be raised from Rs. 10,000 to Rs. 15,000. 

The distress loan limit for public servants will increase from Rs. 250,000 to Rs. 400,000 at a 4.2% interest rate, with Rs. 10,000 million allocated. 

Additionally, Rs. 250 million is proposed to raise the minimum monthly allowance for railway gatekeepers from Rs. 7,500 to Rs. 15,000 for an eight-hour shift.

05.07 pm:

Rs. 11,000 million is required to settle unpaid EPF, ETF, gratuity, and tax arrears of 10 state-owned enterprises, the President said.

Rs. 5,000 million has been allocated for 2026 to begin phased payments, ensuring entitlements for current and retired employees.

The President said that due to the outdated and insufficient government vehicle fleet, Rs. 12,500 million has been allocated to procure essential vehicles and machinery for government institutions, including vehicles for Members of Parliament, which must be returned at the end of their term.

04.54 pm: 

As part of state sector reforms, 21 institutions will be reorganized to consolidate functions, 14 research bodies merged into a single national institution, 9 entities converted into financially independent models, and 13 institutions liquidated due to outdated purposes, according to the President. 

The President said a special housing assistance program will provide Rs. 2 million each to individuals formerly in children’s detention centres and to families of at-risk children, to purchase land, build, or renovate homes. Rs. 2,000 million has been allocated for this initiative.

04.49 pm:

Housing Development – Key Allocations

• Rs. 3,000 million allocated for the “A Place of Your Own- A Beautiful Life” housing programme to build 70,000 homes in the medium term, in addition to Rs. 7,200 million for 10,000 houses in 2026.
• Rs. 15,000 million allocated under the Urban Regeneration Project for housing in areas like Applewatta, Madampitiya, and others in Colombo and suburbs.
• Rs. 6,500 million allocated for 1,996 houses in several areas, including Moratuwa and Dematagoda, with Chinese government support. Some houses are  to be provided to journalists and artists.
• Rs. 1,180 million allocated to renovate deteriorated government-built apartment complexes.
• Rs. 840 million allocated to relocate unauthorized settlers affecting the Kelani Valley Railway development.

Rs. 4,290 million has been allocated, with support from the Government of India, to build 2,000 houses for Malayagam estate workers in several provinces, the President said.

An additional Rs. 1,305 million has been allocated to complete 943 houses under construction in the Northern and Southern Provinces.

04.44 pm:

President Anura Kumara Dissanayake said in 2026, a new housing development programme will be implemented to support all social groups facing housing challenges, with plans to complete construction of 27,000 new homes, including ongoing projects.

04.41 pm:

The President said Rs. 100 million has been allocated to launch a pilot project in Kesbewa and Piliyandala local authorities to provide services for pet burial, cremation, and the care of stray animals, addressing growing demand in urban areas for responsible and humane pet care solutions.

President Dissanayake said Rs. 8,000 million has been allocated from the remaining 2025 capital expenditure to procure 700 solid waste transport machines, such as compactors, tractors, and trailers for local governments, with procurement already underway.

Rs. 900 million has been allocated under the Ministry of Public Administration, Provincial Councils, and Local Government for solid waste management, including the provision of vehicles and equipment for proper disposal and maintenance.

04.37 pm:

Sri Lanka aims to strengthen its position as a regional leader in port logistics by expanding Colombo Port’s capacity and improving efficiency, President Dissanayake said. 

Key initiatives for next year include Phase I of the Western Container Terminal, feasibility studies for Port Logistics Centres, and the proposed Colombo North Port Development Project. 

The Kerawalapitiya Customs Verification Centres in the Bloemaendal area will also be developed.

The President said construction of the second phase of Bandaranaike International Airport will begin in early 2026 with financial support from JICA. 

The airport is being developed into a regional air cargo hub, including the expansion of cargo terminals and handling facilities. Advanced features like cold storage will be added through a Public-Private Partnership model.

04.29 pm :

An Energy Transition Act will be introduced next year to provide the required legal framework towards the modernization of electricity transmission and distribution, the President said. 

The President said the government wishes to support new economic sectors driven by electricity, such as data centres, transport electrification, green hydrogen, and green ammonia, with an Integrated Economic Development Framework established, linking energy, digital, and transport sectors.

“On 28th October 2025, we opened two tenders for two power projects in Mullikulam.  I am very proud to inform this House of the remarkable results achieved. Accordingly, bids were submitted for the Phase I, 50 MW power plant at a price of US cents 3.96 per unit and for the Phase II, 50 MW power plant at a price of US cents 3.77 per unit. In addition, the Mannar Phase I Expansion Project, a 50 MW project, was awarded at an impressive price of US cents 4.65 per unit,” the President said.

04.21 pm:

President Dissanayake said Rs. 330 million has been allocated to conduct a feasibility study for a proposed link between the Port City end of the Port Access Elevated Highway and the Marine Drive Extension. 

The project aims to ease traffic congestion near the Lotus Roundabout and improve connectivity to Colombo Port and Port City.

“The stretch between Ingurukade junction, through the port, Lotus roundabout, to Galle Face is a very congested area, especially due to tourist traffic. This is why there should be an alternate route from the Lotus Roundabout to the Marine Drive, through the sea, behind the Galle Face Hotel,” the President said.

The President says a number of stalled road infrastructure projects are now being resumed. 

For 2026, Rs. 342 billion has been allocated for overall road development.

• Rs. 66,150 million for the construction of the Kadawatha–Mirigama section (Phase I) of the Central Expressway
• Rs. 10,500 million for completion of the Pothuhera–Rambukkana section (Phase III), scheduled by early 2027
• Rs. 20,000 million for starting the Rambukkana–Galagedara section, funded through domestic sources
• Feasibility studies to begin for widening the Katugastota–Galagedara road
• Budget provisions included to upgrade access roads to Kandy, alongside the Kandy Multi-Modal Transport Centre, to ease urban traffic congestion
• Rs. 1,000 million has been allocated to complete land acquisition for the proposed Kurunegala–Dambulla Expressway.
• Rs. 1,500 million has been allocated for ongoing land acquisition for the Kahathuduwa–Ingiriya section of the Ruwanpura Expressway. The project, previously suspended, will be reassessed based on updated feasibility studies.

04.08 pm:

The 2026 budget allocates Rs. 67,200 million to improve public transportation. This includes Rs. 3,600 million for 600 new SLTB buses, Rs. 2,062 million to replace 307 worn-out engine units, and Rs. 790 million for depot upgrades.

The President said Rs. 3,300 million is set aside for five new Diesel Multiple Units (DMUs) for Sri Lanka Railways and ongoing digitalization efforts, including e-ticketing. 

Additionally, Rs. 2,000 million will support rural transport routes affected by reduced private bus services.

04.05 pm: 

Rs. 85,700 million has been allocated for drinking and community water supply projects in key districts, as access currently meets only 62% of national demand. 

Private sector collaboration is essential to support infrastructure development, the President stressed.

04.03 pm:

The President said that to mitigate flood risks in areas such as Colombo, Gampaha, Galle, Ampara, Mannar, and Puttalam, an integrated plan will be developed in collaboration with relevant agencies. 

Rs. 250 million has been allocated for a medium-term framework.

04.01 pm:

President Dissanayake said the total Allocation for Irrigation is Rs. 91,700 million to boost agriculture, regional development, and job creation by resuming suspended projects.

The President said Rs. 500 million has been allocated for improving infrastructure at wharves to reduce post-harvest losses.

Rs. 100 million allocated to develop a satellite-based system for identifying fish grounds and sharing information with fishermen and Rs. 100 million allocated for upgrading aquaculture centres to boost fish seed supply and enhance freshwater fish availability, he said. 

03.56 pm:

President Dissanayake said Rs. 2,500 million has been allocated to implement a program to increase productivity and exports in the coconut sector by supporting small-scale growers with less than five acres, who form part of the 447,000 acres under coconut cultivation.

Rs. 600 million has been allocated to expand coconut cultivation in the Northern Coconut Triangle, following recommendations from the Coconut Research Institute, the President said. 

The President said Rs. 3,000 million will be allocated to resume and complete the stalled Badalgama Dairy Factory project, including machinery repairs and factory renovations. 

The project, halted since 2022 after Rs. 18,000 million in public funds had already been spent, aims to boost local milk production and support the national economy. The Narahenpita Milk Factory is proposed to be moved to this location.

03.50 pm:

President Dissanayake said Rs. 1,000 million has been allocated for the preliminary work, including the feasibility study of this project under the “Small and Medium-sized Livestock Development Programme.

03.47 pm:

The President said Rs. 250 million will be allocated to complete construction and install a solar panel system at the non-operational Dambulla Cold Storage facility, which has a 5,000 metric ton capacity. 

The government also plans to explore improved management and operational methods for the facility. The President acknowledged that the facility is not operational in its current state.

03.46 pm:

The President said the 2026 budget proposes government support for the operational and essential capital expenses of the Sri Lanka Broadcasting Corporation, Sri Lanka Rupavahini Corporation, and Independent Television Network due to financial difficulties. 

Additionally, Rs. 100 million will be allocated for higher education scholarships and technical training to enhance journalists’ skills in line with modern media advancements, he said.

03.44 pm:

The President said Rs. 240 million has been allocated to uplift self-employment, household industries, etc., carried out by women entrepreneurs across the island at the Divisional Secretariat level.  

He further said that an additional Rs. 200 million is proposed to be allocated for programmes aimed at the welfare of women.

President Dissanayake said Rs. 50 million has been allocated to the existing allocations to promote drama, performing arts and literature as an area of cultural enrichment.

03.41 pm:

President Dissanayake said that to strengthen wildlife conservation and mitigate human-elephant conflict

• Rs. 1,000 million allocated for completing electric fence construction and related activities.
• Rs. 300 million allocated to repair, complete, or construct electric fences in essential areas.
• Approval granted to procure 294 essential vehicles and modern communication equipment for the Department of Wildlife Conservation.
• Rs. 375 million allocated for food and fuel allowances to support 5,000 Civil Security Service officers assigned to wildlife monitoring.
• Officers will receive special training and be permanently attached to monitor elephant enclosures.
• Rs. 80 million allocated for pasture and water source management to ensure adequate food and water for elephants.

03.40 pm:

The President said Rs. 4.2 billion has been allocated for the Suwa Seriya Ambulance Service. 

03.38 pm:

The President said a concessional housing loan scheme and a contributory pension scheme will be introduced for Sri Lankan migrant workers in recognition of their contribution to the country’s foreign exchange earnings. 

The programs will be implemented using funds from the Sri Lanka Bureau of Foreign Employment (SLBFE), with Rs. 2,000 million allocated for the initial phase.

03.35 pm:

The President said the daily wage for estate workers is to be increased from Rs. 1,350 to Rs. 1,750 by January 2026.

“It is our position that estate workers should be paid a fair daily wage commensurate with their service. It is proposed to increase the current minimum daily wage of Rs. 1,350 to Rs. 1,550 from January 2026. Furthermore, in addition to the salary of Rs. 1,550, it is proposed to pay Rs. 200 as a daily attendance incentive by the government. It is proposed to allocate Rs. 5,000 million for this purpose.”

“If tea estates are not properly managed, fertilized, and crops are not developed, they will be taken over by the state. Agreements will not be renewed after 2041. The industry is 150 years old. If the management can’t still pay a worker a daily wage of Rs. 1750, what is the meaning of this industry?,” the President questioned. 

03.27 pm:

President Dissanayake said Health Centres will be established across the country to serve between 5,000 and 10,000 people each.

Rs. 1,500 million to be allocated for the pilot project to introduce Primary healthcare centres, he said. 

The President said Rs. 11,000 million has been allocated for medical faculties in state universities.

Rs. 200 million has been allocated for initial work, including the feasibility study and contract preparations, for the construction of a state-of-the-art, 16-storey cardiac hospital, which is expected to be completed within three years, the President said.

03.23 pm:

The President said Rs. 50 million will be allocated to provide Rs. 5,000 in educational assistance for differently-abled children, encouraging these children to be integrated into the mainstream education.

The Mahapola and student allowance for university students will be increased by Rs. 2,500.

The monthly allowance for students of teacher training colleges will be increased by Rs. 2,500, he said.

03.19 pm:

Rs. 500 million has been allocated to strengthen day-care centers that provide care for children with autism and other special needs, the President said.

03.17 pm:

The President said the government proposes to provide an allowance of up to Rs. 15,000, covering 50% of the salary, for any differently-abled individual employed by a private company, for a period of up to two years. 

An allocation of Rs. 500 million has been set aside for this initiative, he said.

03.15 pm: 

President Dissanayake says service accessibility will be improved for the differently-abled community with an allocation of Rs. 1000 million.

Rs. 2000 million has been allocated for the ‘Ratama Ekata’ program, including urgent prison reforms, the President said.

The President says it has been proposed to establish a virtual economic zone to promote investments. He said discussions are underway with the BOI in this regard. 

03.10 pm: 

The President said Rs. 6,500 million has been allocated to the Clean Sri Lanka Initiative.

President Dissanayake said a five-year tax exemption will be granted for digital communication towers. The government has decided to construct 100 towers.

03.07 pm :

The Agni Fund will be established to accelerate the startup ecosystem, with Rs. 1,500 million allocated under the Digital Economy Ministry’s expenditure head, the President said.

03.06 pm :

The President said that a broadband voucher will be provided to children from Aswesuma beneficiary households and low-income families, with access limited to approved educational websites, the president said, to promote inclusive digital access.

President Dissanayake said all government payments will be brought under a digital payment system. 

He further said no service charges will be imposed for online payments.

03.02 pm :

The President said the first Digital National Identity Card will be issued by March 2026.

The data will be entered and managed by a Sri Lankan company, with no scope for it to be accessed by any foreign entity, the president said.

Leading Sri Lankan experts have contributed their scientific input to the process, he said.

Despite some attempts to challenge it through legal action, he expressed gratitude to the Supreme Court for dismissing the petition.

03.00 pm:

President Dissanayake said that Rs. 2,500 million has been proposed to develop Beira Lake into a tourist attraction in Colombo.

02.56 pm:

The President said Rs. 1,000 million will be allocated to develop the Hingurakgoda, Sigiriya, and Trincomalee domestic airports, and to expand operations at Jaffna Airport. The Civil Aviation Authority will be involved for this purpose.

President Dissanayake said that within the first half of next year, all halted projects at the Katunayake Airport will be restarted.

02.54 pm:

President Dissanayake said state bungalows will be turned into profitable ventures under a Public-Private Partnership. A total of 900 such buildings have been identified.

He further said Haputale will be developed as a key tourist destination.

02.50 pm :

The President said funds have been allocated to provide loans of up to Rs. 50 million at concessionary interest rates for small and medium-scale entrepreneurs.

Rs. 800 million is proposed to be allocated to establish a sustainable Agricultural Loan Fund, he said. 

The President said Rs. 5,900 million was allocated for loans to small and medium-scale entrepreneurs.

02.47 pm:

President Dissanayake said Rs. 1,000 million has been allocated for the development of services related to investment zones.

The President says Rs. 250 million will be allocated to the Export Development Board to promote and facilitate exports.

02.42 pm :

President Dissanayake said Rs. 2500 million was allocated to create the National Single-Window (NSW) framework for trade this year.

02.41 pm:

President Dissanayake says two technical institutes built in Kurunegala and Galle are now abandoned.

Their outstanding debts will be settled this year, and the institutions will be reopened for private sector investment.

The President said two IT zones are planned in Digana and Nuwara Eliya under the BOI.

Investors will be provided with residence visas based on their investments with the BOI. 

02.35 pm: 

The President said steps are being taken to bring the direct and indirect tax rates to a 60:40 ratio.

02.31 pm :

President Anura Kumara Dissanayake said the Strategic Development Projects Act and the Port City Commission Act will be amended at the beginning of 2026, through which they expect to streamline foreign investments in Sri Lanka.

02.27 pm :

The President said it is projected that State revenue will exceed 15.3% of the GDP by 2026. 

Our goal is to increase this up to 20% in the long term, he said.

02.22 pm:

The President said unemployment has reduced from 4.5% in the first quarter of 2024 to 3.8% in the first quarter of 2025.

02.19 pm :

A potential growth opportunity of USD 15 million has been identified in the digital economy, the president said.

02.18 pm :

The President said this year’s debt servicing totals USD 2,435 million, of which USD 1,948 million was repaid by September. 

The remaining USD 487 million is scheduled for repayment by December. 

This marks an increase of USD 761 million compared to last year, he said.

02.16 pm :

The President says Letters of Credit worth 1,333 million US dollars have been issued for vehicle imports by October 31, this year. We have brought vehicles for USD 1363 million. 

On debt repayments, the president said the government aims to reduce the debt-to-GDP ratio to below 90% by 2032, and expressed confidence in achieving this target.

02.08 pm : 

President Anura Kumara Dissanayake said import revenue has increased by USD 02 billion by September this year, and the government expects it to increase by the same amount this month too.

We anticipate achieving a 7% economic growth rate over the medium term, the president said.

02.07 pm: 

President Dissanayake said that a digital assets system will be introduced in 2026.

02.03 pm :

The President said an expert committee is expected to be appointed to draft a code of ethics for the judicial service.

01.59 pm :

The President said the US$ 210 million debt component of SriLankan Airlines would be restructured this year.

President Dissanayake said that the government plans to introduce an e-procurement system soon.

01.57 pm :

The president said the country’s official reserve assets are expected to approach USD 7 billion by year-end.

01.55 pm:

Foreign direct investment reached USD 823 million by September this year, reflecting renewed investor confidence, the President said.

01.45 pm:

The Aswesuma beneficiaries will be reviewed in 2026 to ensure the welfare program remains free from political influence, the President said.

President Anura Kumara Dissanayake said while previous leaders projected a return to 2019 economic levels by 2029, his government expects to restore Sri Lanka’s pre-crisis economy by the end of 2025.

President Anura Kumara Dissanayake stated in his budget speech that the government aims to keep inflation below 5%. 

He claimed foreign exchange levels are stable, and that both exports and foreign remittances remain strong.

01.35 pm:

President Anura Kumara Dissanayake has commenced presenting the Appropriation Bill for the 2026 financial year to Parliament.

The total estimated government expenditure from 01 January 2026 to 31 December 2026 has been set at Rs. 4,434 billion.

Prime Minister Harini Amarasuriya today presented in Parliament the Appropriation Bill for the 2026 financial year. 

The Appropriation Bill for the 2026 financial year outlines the government’s proposed expenditure for the year from 01 January 2026 to 31 December 2026.

01.20 pm:

President Anura Kumara Dissanayake has arrived in Parliament to present the Appropriation Bill for the 2026 financial year.

The President, in his capacity as Minister of Finance, will deliver the second reading of the Appropriation Bill for the year 2026, commonly referred to as the Budget Speech. 

The post Budget 2026 live updates appeared first on Newswire.

The Cabinet of Ministers has approved the Appropriation Bill for the 2026 financial year.

The second reading of the Budget 2026 is scheduled to be presented to Parliament this afternoon by President Anura Kumara Dissanayake, in his capacity as Minister of Finance.

The budget speech is set to be delivered in Parliament at 1:30 pm today. This marks the second budget presented under the National People’s Power (NPP) government.

The total projected government expenditure for 2026 stands at Rs. 4,434 billion.

The Maximum permitted outstanding borrowing is Rs 3,800 billion.

The amount of expenditure “charged on the Consolidated Fund” (i.e., statutory/automatic expenditures) is Rs 4,545.643 billion. (Newswire)

The post Cabinet approves Budget 2026 proposals appeared first on Newswire.

All opposition Members of Parliament have been summoned to a special briefing today (06) to discuss the second budget of the current government and the opposition’s strategic response.

According to SJB General Secretary and MP Ranjith Madduma Bandara, the session is scheduled to take place at 2:00 PM in Colombo.

The briefing will include presentations by several experts, who are expected to provide insights on the national economy, the upcoming budget, and the country’s future trajectory.

MP Madduma Bandara stated that the purpose of the session is to equip opposition MPs with key information and talking points ahead of the upcoming parliamentary budget debate.

As Opposition Leader Sajith Premadasa is currently on an official visit to India, the session is being held under his guidance, with all opposition MPs formally invited to attend.

President Anura Kumara Dissanayake is scheduled to present the 2026 Budget to Parliament tomorrow (07). (Newswire)

The post Budget 2026 : Opposition MPs to meet for special briefing appeared first on Newswire.

President Anura Kumara Dissanayake has reviewed the final draft of the 2026 Budget Proposal at the Presidential Secretariat last night (05).

According to the President’s Office, Secretary to the Ministry of Finance, Harshana Suriyapperuma, also participated in the review session.

This marks the second budget presented by the current government.

President Dissanayake, in his capacity as Minister of Finance, is scheduled to present the proposal to Parliament tomorrow (07). (Newswire)

The post Final draft of 2026 Budget Proposal reviewed by President appeared first on Newswire.

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. (Newswire)

The post President AKD to present 2026 Budget in Parliament tomorrow appeared first on Newswire.

Cabinet approval has been granted for the government’s programme of the Parliament on the submission of the Appropriation Bill for the financial year 2026.

Approval of the Cabinet of Ministers was granted at their meeting held on 08th September to publish the Appropriation Bill for the financial year 2026 in the government gazette notification and thereby submit the same to the Parliament. 

Accordingly, the Cabinet of Ministers granted their consent to the proposal submitted by the Prime Minister on the following programme of the Parliament for the submission of the 2026 Appropriation Bill. 

• First reading of the Appropriation Bill – 26.09.2025 
• Second reading of the Appropriation Bill – 07.11.2025 
• Budget debate on second reading – from 08.11.2025 to 14.11.2025 
• Third reading (Budget Committee Stage)– from 15.11.2025 to 05.12.2025 
• Voting at the third reading of the budget – 05.12.2025 (Newswire)

The post 2026 Appropriation Bill to be taken up in Parliament next week appeared first on Newswire.