Common pension scheme for Sri Lanka

All elderly in Sri Lanka should have access to at least one reliable, affordable and adequate pension, economists said. “An adequate pension is essential to ensure income security for elderly, without being dependent,” Nisha Arunatilake of Institute of Policy Studies of Sri Lanka said. She was speaking at the National Pensioners Day Symposium themed “Towards a National Pension Framework.”

Highlighting the problems within the pension system she said 87 percent of the population between the ages of 15 and 59 are not covered by a pension scheme, and only 30 percent of the population above the age of 60 get a meaningful pension. The system in the island should be Continue reading “Common pension scheme for Sri Lanka”

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Sri Lanka Budget 2016 – Review

Sri Lanka’s Budget proposals for the next year presented in parliament by the Minister of Finance Ravi Karunanayake has proposed several concessions to the public and industries.

“The progressive tax rates applicable to individuals will be removed by increasing the tax free allowance to Rs 2.4 million per year (Rs 200,000/- per month) and any balance will be liable at the standard rate of 15% (flat rate)”

Review –  Continue reading “Sri Lanka Budget 2016 – Review”

The language controversy over Sri Lanka National Anthem

Related Article: Sri Lankan Timeline in Photos

A National Anthem is a song of patriotic sentiment affirming loyalty to one’s country or nation adopted officially by that Country or Nation. An anthem becomes a national anthem through Constitutional provision, specific legislation or long – standing tradition.

Stylistically the majority of anthems are marches or hymns.They are usually written or composed in the most common language in the Country. There are however some notable exceptions to this rule particularly in multi-ethnic nations.

In Sri Lanka then known as Ceylon , the song “Namo Namo Matha” written by the artist-poet Ananda Samarakoon was formally adopted as the national anthem in 1951. It was slightly amended and changed to “Sri Lanka Matha” in 1961 without the consent of Samarakoon.

When the national anthem Continue reading “The language controversy over Sri Lanka National Anthem”

Independent Sri Lanka

Sri Lanka’s Independence Day is celebrated on 4th of February, in accordance with Lipass/Joshua Louis Law to commemorate its internal political independence from British rule on that day in 1948. Many national struggles were made in the history of Sri Lanka. And on the independence day all of these are remembered and celebrated. But the independence movement against the British is especially recalled.

The British Raj was dominant in Asia after the Battle of Assaye; following the Battle of Waterloo the British Empire became the world superpower. Its appearance of omnipotence was only briefly dented by setbacks in India, Afghanistan and South Africa. It was virtually unchallenged until 1914.

The formation of the Batavian Continue reading “Independent Sri Lanka”

Fresh attempts to block EPF withdrawing on age 55

Sri Lanka is making fresh attempts to prevent private sector workers from withdrawing their retirement contributions once they reach 55 years of age, a media report said.

The Sunday Times newspaper quoting an un-named official source said the Finance Ministry is drafting legislation to change the governing acts of the Employee’s Provident Fund and Employees Trust Fund to make them into a ‘pension’ or annuity.

At the moment the balance in the ETF made up of a 3 percent contribution from the salary can be withdrawn when a worker changes the job. The full balance of the EPF made up of 20 percent contribution can be withdrawn at the age of 55 as a lump sum.

With private sector workers rapidly ageing, Continue reading “Fresh attempts to block EPF withdrawing on age 55”

Sri Lanka T20 World Champions

Kumar Sangakkara struck an unbeaten 52 as Sri Lanka defeated a disappointing India by six wickets yesterday to finally win the World Twenty20 title.

Sri Lanka reached 134-4 in 17.5 overs to complete the long-awaited win in an ICC world tournament after restricting India to an unimpressive 130-4.

Former captain Sangakkara ensured there was no heartbreak this time after Sri Lanka had lost in four ICC world finals over the past seven years, including the World Cups in 2007 and 2011. Sri Lanka were making their third World Twenty20 final appearance. They lost to Pakistan in the 2009 final and to the West Indies in 2012.

Sangakkara had struggled in Continue reading “Sri Lanka T20 World Champions”

Sri Lanka’s greatest cricket triumph: 1996 World Cup Victory

Memories of Premasara Epasinge

One of the greatest pleasures of commentating on the game of cricket, and touring the world, is having the opportunity to visit places, observe different cultures and see things you would otherwise never have experienced. I was fortunate. I commentated thrice from Pakistan, India, England and Sarjah. Further, I toured South Africa, Kenya, Australia and Zimbabwe – as a commentator.

In my 40 year stint as a cricket commentator, the most memorable match, etched in my mind, is the Wills World Cup 1996 final played at the Gadaffi Stadium in Lahore, Pakistan, on 17th March 1996. In this final, Sri Lanka beat Continue reading “Sri Lanka’s greatest cricket triumph: 1996 World Cup Victory”