PM says opposition playing double games

by Norman Palihawadane Prime Minister Mahinda Rajapaksa, yesterday, said that the Rs. 5,000 allowance, given to the people who had lost their daily income due to COVID-19 pandemic, would not be stopped though there had been a decision made not to pay it for the month of June, owing to opposition by some political parties. The PM said that the government had been asked to suspend the payment owing to petitions by Opposition political parties to the Elections Commission, against paying Rs 5,000 to people who had lost their livelihoods.…

Sri Lanka extends trade controls, license regime in import substitution drive

Sri Lanka has extended import bans for three months on a wide variety of goods and started a license regime on other goods in an import substitution drive after money printing brought currency pressure on top a Coronavirus crisis. Sri Lanka is relying on a law widely in the 1970s to control imports and cripple economic activities in th 1970s as the central bank was unable to deal with the collapse of the Bretton Woods system which also sent oil prices up. But the controls are now coming despite oil…