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The second vote has reportedly come to a standstill as Alliance MPs lounge in the centres of the Chamber in protest to UNP members revealing their vote to party frontliners.Sources say, the UNP MPs action was to reassure Party leaders of their support to their candidate for Speaker.rn rnSources say at one point one Alliance […]

Voting for the speaker of Sri Lankas new parliament ended in a tie between candidates put up by the minority government and the opposition, an official said, adding that a fresh ballot would be held. rnParliament secretary general Priyani Wijesekara said after the vote that government candidate, Communist Party general secretary D.E.W. Gunasekara and opponent, […]

The vote to elect the speaker to the new Parliament closed minutes ago, with initial reports indicating the race between the two key candidates was neck and neck. Sources in parliament say the seven Saffron robed ministers abstained from the vote and only the two lquote missing monks voted with the UPFA.rn rnHectic political manoeuvring […]

Sri Lankas president was in hectic talks to resolve a dispute with her main ally a day ahead of her minority governments first test in parliament, officials said.President Chandrika Kumaratunga had expected her junior coalition partner, the Marxist JVP, or Peoples Liberation Front, to accept four portfolios in the cabinet by Monday, but they were […]

Sri Lankas president was desperately locked in moves to secure allies as her minority government risked losing the crucial Speakers post when it faces its first test in parliament, officials said.President Chandrika Kumaratunga was also battling to retain her junior coalition partner, the Marxist JVP, and ensure it accepts four portfolios allocated to it before […]

The new Govt. will try to squeeze out an extra Rs.10 bn from existing revenue collection channels to meet its increased welfare commitments.Treasury officials say this could be achieved if revenue collection was made more efficient, while staying within the current tax structure.rn rnPolitical watchers say the new Finance Minister Sarath Amunugama and his secretary […]

The chief of Sri Lankas Tamil Tigers has asked his 22 proxy legislators in the countrys new parliament to pressure the minority government to open talks based on the rebels blueprint for self-rule.Tiger leader Velupillai Prabhakaran met the MPs of the Tamil National Alliance (TNA), a proxy of his guerrillas, in the northern rebel-held region […]

Taking stock of current ground realities will indicate if the present low interest rate scenario is sustainable says new Treasury Secretary. P. B Jayasundera, who took office on Monday, says the governments policy on interest rates will be reviewed shortly after assessing current requirements to spur economic growth.rn rnOnly last week, Central Bank left its […]

After a change of government it is customary to see changes also in the top rung of State departments, corporations and missions abroad.rn rnThe process is already underway but this time under public scrutiny like never before thanks to civil society groups demanding greater accountability and transparency of any new appointments.rn rnAn anti-corruption body, Transparency […]

Former Treasury Secretary P.B. Jayasundera returned to the post today, ending speculation that Presidential Advisor Mano Tittawella was up for the post.Though familiar territory to Jayasundera, his initial tasks could include increasing the governments borrowing programme to foot the cost of the Alliances election promises.rn rnIn addition, an increased borrowing programme could also put pressure […]