The Supreme Court (SC) has determined that some sections of the new Inland Revenue Act are not in accordance with the Constitutio, Speaker Karu Jayasuriya informed Parliament today.
Accordingly, the SC has pointed out that the Act, if it were to be approved in its present form, would require a special Parliamentary majority and a referendum.
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The Ceylon Petroleum Corporation (CPC) will reduce fuel prices with effect from midnight today.
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, has cautioned that reversing the current economic programme could lead to a resurgence of the severe economic and social crisis Sri Lanka endured nearly two years ago.
The Constitutional Council has approved four nominees, proposed by the President, to fill vacancies in the Court of Appeal.
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