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Future policies on vehicle imports should be formulated in a way that allows imports only based on necessity, according to Professor in Economics at the Department of Economics, Priyanga Dunusinghe of the University of Colombo.

Prof. Dunusinghe is of the view that that importing vehicles without real demand leads to unnecessary expenditure of the country’s foreign exchange reserves.

Speaking further, Prof. Dunusinghe noted that vehicle importers have recently brought in large quantities of vehicles, resulting in unsold stock being accumulated at vehicle sales yards.

He added that due to the current surcharge structure, importers now have an opportunity to earn higher profits by selling vehicles at elevated prices.

Professor Priyanga Dunusinghe stressed that vehicle imports should be permitted only according to genuine national requirements, and not in a manner that drains scarce foreign exchange. He warned that allowing unrestricted imports results in vehicles being stockpiled in sales yards while enabling excessive profit-making at high market prices. 

A total of 5,289 Tri-Service personnel have been promoted to their respective next ranks in view of the 17th National War Heroes’ Commemoration Day, which falls tomorrow (19). 

Promotions have been granted to their next respective ranks in recognition of their dedicated service rendered to the nation, the Ministry of Defence said in a statement.

The National War Heroes’ Commemoration Day is commemorated annually on 19 May to honour and appreciate the invaluable sacrifices and exemplary service of members of the Tri Forces who contributed immensely towards restoring peace and safeguarding the sovereignty of the motherland.

Accordingly, these promotions have been awarded based on the recommendations of the respective Service Commanders and in accordance with the established administrative procedures of the Tri-Forces.

The Ministry of Transport, Highways and Urban Development has announced that 104 new metro buses are scheduled to be imported in August to improve the efficiency of the country’s public transportation system.

The Ministry confirmed that the relevant agreement was signed today (18).

Under the agreement, all 104 modern buses are expected to arrive in Sri Lanka by August 15.

Meanwhile, the construction of new metro service depots is currently underway in areas including Kadawatha and Ratmalana in the Western Province.

The Transport Ministry further stated that the introduction of these buses into service in August is expected to mark a significant qualitative improvement in Sri Lanka’s public transport system.

The Sri Lanka-India Test series will be played in the second half of August. The exact dates for the two Tests have not yet been finalised, but Sri Lanka Cricket (SLC) has identified a two-week window for the matches, which are part of the current ICC World Test Championship (WTC) cycle.

Sources within Sri Lanka Cricket (SLC) and Board of Control for Cricket in India (BCCI) have revealed to Cricbuzz that the matches will be played between August 15 and 27. There is, however, no confirmation yet on the three Twenty20 Internationals that were supposed to be added to the tour.

The two Tests follow the Lanka Premier League (LPL), which concludes on August 9 and the information about the identified window has been shared with all the stakeholders involved with the series, including the Indian team.

BCCI secretary Devajit Saikia has travelled to Sri Lanka as part of an International Cricket Council (ICC) delegation to assess the situation in Sri Lanka Cricket (SLC), which was recently dissolved by the government of President Anura Kumara Dissanayake. The government has since appointed an interim body, the Sri Lanka Cricket Transformation Committee.

There is a possibility that the Transformation Committee members may take up the proposed series with Saikia during his visit but identifying a window for the three games - originally proposed as a fundraiser for last November’s Cyclone Ditwah victims - could be a challenge because September will be a busy month for the Indian team(s).

A six-match white-ball series in Bangladesh - comprising three ODIs and three Twenty20 Internationals - has been planned for September. The proposed tour of Bangladesh, should it at all take place, could complicate matters for those involved in drawing schedules. Saikia refused to comment on whether the Bangladesh series would go ahead, suggesting during a recent media interaction that the focus should remain on the immediate fixtures.

The tour of Bangladesh is a carry-forward of last year’s postponed series, which was deferred because of tensions between the two countries. With the diplomatic frost between India and Bangladesh seemingly beginning to melt, it remains a matter of conjecture whether the series will eventually go ahead.

The Bangladesh tour, if it takes place, will be followed by a home series against the West Indies, which could in turn overlap with the September 9-October 4 Nagoya Asian Games - cricket to be played between September 25 and October 3. And amid all this, India are also scheduled to play three Twenty20 Internationals against Afghanistan in the United Arab Emirates in September itself.

India resume their international commitments on June 6 with a Test against Afghanistan in Mullanpur, followed by a three-match ODI series. The team will then tour Ireland, England and Zimbabwe before travelling to Sri Lanka.

Source: Cricbuzz
– Agencies

The selling rate of the US dollar has exceeded Rs. 334, according to the latest daily exchange rates issued by the Central Bank of Sri Lanka today (18).

The Central Bank stated that the buying rate of the US dollar was recorded at Rs. 326.74, while the selling rate stood at Rs. 334.26.

This marks the highest recorded selling rate for the US dollar since November 29, 2023, when the selling price was reported at Rs. 334.22.

Meanwhile, the buying rate recorded today is also the highest since March 20, 2023, when the buying price of a US dollar was reported at Rs. 331.71.