Numbers.lk 🇱🇰

Sri Lanka 🇱🇰 to Introduce New Companies Act Amendment to Compel Companies to Disclose Beneficial Ownership ⭕ A draft amendment to the Companies Act which will for the first time compel businesses to disclose their beneficial owners has been placed on the order paper of Parliament. ⭕ The proposed amendment to the Companies Act will compel businesses to disclose their beneficial owners, meeting an International Monetary Fund (IMF) structural benchmark. ⭕ The law aims to make the beneficial ownership framework consistent with Financial Action Task Force (FATF) standards, a set of international guidelines for combating money laundering, terrorist financing, and proliferation financing. ⭕ Beneficial ownership refers to people who control or benefit from a company, with the proposed amendment allowing the public to inspect details of beneficial owners upon request, including full names and nature and extent of ownership. ⭕ Companies will be required to disclose information about beneficial owners, including dates and places of birth, nationalities, and addresses, with a register to be maintained at the registered office for at least 10 years. ⭕ Failure to disclose or providing false information is a criminal offence punishable by fines or imprisonment, with the Registrar of Companies mandated to maintain a register and make details available to authorities upon request.

💡Electricity Tariff Increase Sri Lanka 🇱🇰 ⭕️The Public Utilities Commission of Sri Lanka (PUCSL) has approved a 15% increase in electricity tariffs as the second revision of the year. ⭕️Check new rates with our electricity bill calculator: 👉 tools.numbers.lk/eleccal ⭕️The new electricity tariffs will be effective from June 12th, 2025. - According to the PUCSL. ⭕ On January 2025, PUCSL implemented a 20% reduction in electricity tariffs under the first revision of the year. ⭕ Therefore even after the 15% hike, the net tariff level will remain about 8% below the rates in force at the start of 2024. #SriLanka #ElectricityBill

The Central Bank of Sri Lanka further 𝐫𝐞𝐝𝐮𝐜𝐞𝐬 the Overnight Policy Rate (OPR) by 25 bps to 7.75%.

Rs. 4.1 Million Bribery Scandal Uncovered at Sri Lanka’s DMT 🇱🇰 The Bribery Commission has uncovered a systematic bribery ring inside state departments, backed by internal staff coordination. ⭕ A raid at the Department of Motor Traffic HQ uncovered Rs. 4.1M in unexplained cash inside the Deputy Commissioner’s office. ⭕ The money was reportedly collected as bribes and set for distribution among staff involved. ⭕ Tip-offs claim bribery is widespread within the DMT, with most staff participating or supporting it. ⭕ 3 officials, including the Deputy Commissioner, were arrested and remanded until June 3, 2025. ⭕ Bribery Commission warns that both soliciting and paying bribes are criminal offences under Sri Lankan law. ⭕ CIABOC says this is part of a broader pattern—multiple state bodies are under similar investigation. #SriLanka 🇱🇰 Follow us on: ❤️ Instagram: https://www.instagram.com/numbers.lk 💙 Facebook: https://www.facebook.com/numbers.lk 💚 WhatsApp group: https://go.numbers.lk/whatsApp 💚 WhatsApp channel: https://go.numbers.lk/wa-channel 🖤 X: https://x.com/numberslka 🌐 W: https://numbers.lk #SriLanka

🇱🇰 CEB's Q1 Loss: The Expected Result of Tariff Correction After Rs 51B Surplus ⭕ Ceylon Electricity Board recorded a Rs 17B loss in Jan-Mar 2025 following PUCSL's 20.08% tariff reduction implemented from January to June. This reduction was based on a projected Rs 44B surplus for CEB in H1 ( Jun-June) 2025. ⭕ Had the previous tariff continued, PUCSL estimates CEB would have recorded a staggering Rs 90B profit - making the case for consumer relief through lower rates. #SriLanka #Energy #Economy readmore: https://www.facebook.com/share/p/1HcwWf3geY/

Sri Lanka 🇱🇰 loses 4,642 health workers to brain drain (2022–2025) ⭕ All were trained with state funds and are now serving abroad. The Minister called for international accountability. ⭕ But the real fix isn’t blaming others—it’s about paying well, valuing talent, and incentivizing professionals to stay. Exorbitant personal taxes and cuts to existing benefits like vehicle permits push them away. These professionals need to feel valued and supported.

Malini Fonseka – the Queen of Sri Lankan 🇱🇰 Cinema – passed away this morning in Colombo at the age of 78. Her legendary career spanned seven decades and over 150 films. She was one of the first Sri Lankan actresses to gain international recognition and elevate the country’s cinema to global heights. Her legacy will live on forever.

Sri Lanka’s 🇱🇰 Digital Dream Stuck at the @PayPal/@stripe Gate The single biggest leap Sri Lanka’s 🇱🇰 digital economy can make isn’t rolling out 5G or chasing AI, it’s giving Sri Lankan people the power to monetize digital products by easily receiving payments via PayPal, Stripe, and other global platforms. More: https://www.facebook.com/100063596229442/posts/pfbid04dnrdCL7AG85YBpS7JqSQX7zn3WZbL2jZFoxCoHbd2sKD5jomoPz92jx7QHgbTwil/

In early this year, the Government set the minimum paddy purchasing price of Rs.120–132/kg for Maha season 2024–25. This converts to ~ Rs.250/kg rice price post-milling. Despite this above market rate, farmers did not sell to the Paddy Marketing Board (PMB). ⭕️ By late April 2025, with 90% of harvesting completed, the government has procured only 56,000 kg (56MT) - (~ 3 containers (TEUs)). ⭕️ For comparison, during the 2024 shortage (Dec–Jan), when the government allowed rice imports, 167,000 MT were imported (~8,000+ containers). https://www.facebook.com/share/p/1AYdJkw3rD/

Salt Shortage in Sri Lanka 🇱🇰: Culprit – the Rainfall ⭕️ Sri Lanka requires 180,000 metric tons (MT) of salt annually, with ~60% of that demand met by three major salterns in the Hambantota District. ⭕️ Lanka Salt produced only 40,669 MT of salt in 2024—a sharp decline from 94,000 MT in 2023. Stocks from 2023 prevented a shortage in 2024, but 2025 began with only 10,000 MT in reserve. ⭕️ As of May 19, 2025, no salt production has commenced for the year. The halt is due to uninterrupted rainfall since January, which has disrupted the evaporation cycle necessary for salt harvesting. readmore: https://www.facebook.com/share/p/16H6ZezG3h/