SRI LANKA NEWS (MARCH  2024) Compiled by Victor Melder The Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 5.9% in February from 6.4% in January 2024. The Central Bank said the increase in the headline inflation is mostly in line with its projections.  It said the Food inflation (YoY) increased to 3.5% in February from 3.3% in January 2024, while the Non-Food inflation (YoY) decelerated to 7% in February from 7.9% in January 2024.  CBSL also said the monthly change of CCPI recorded -0.05% in February due to the combined effect of price decreases of 0.67% observed in the items of Food category and price increases of 0.62% observed in the items of Non-Food category. The core inflation (YoY), which reflects the underlying inflation in the economy, increased to 2.8% in February from 2.2% in January 2024.  The Central Bank ...

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COPA questions lion’s share of fines going to Customs-By Shamindra Ferdinando Irregularities, lapses, corruption erode public finance Source:Island The Committee on Public Accounts (COPA) has summoned the Inland Revenue Department tomorrow (23) for an inquiry regarding the inordinate delay in collecting taxes amounting to billions of rupees and extraordinary payments made to the officers of the Customs Department out of fines imposed on both public and private sector enterprises. Besides, a COPA sub-committee is inquiring into revenue losses suffered over the years as a result of releasing vehicles imported for special purposes as dual-purpose vehicles.  ...

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Human – elephant conflict Source:Island Electric fencing, white elephant The Committee on Public Accounts (COPA) revealed that although Rs. 490 million had been spent on building electric fences between 2019 and 2020, there had been no decrease in the incidents of the human-elephant conflict. The cost of constructing the electric fences in 2019 to prevent human-elephant conflict was Rs. 275,447,639 and the amount spent for this purpose in the year 2020 was Rs. 221,505,818. The total length of the electric fences was 4,756 km. ...

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Special co-operative Ayurvedic hospital system to be established Source:Ceylontoday Preliminary discussions are being held on establishing a special co-operative Ayurvedic hospital system for traditional and ayurvedic medicine. It was reported that discussions were held recently with the participation of State Minister of Indigenous Medicine Promotion, Rural and Ayurvedic Hospital Development and Community Health, Sisira Jayakody, and State Minister of Cooperative Services, Marketing Development and Consumer Protection, Lasantha Alagiyawanna. ...

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