The once brisk construction sector fell to new lows in the final three months of last year, extending the contraction in the sector to its sixth straight quarter reflecting the extent of its struggle.

Sri Lankans could receive a welcoming surprise at the pump in a matter of days or weeks as the global oil hit a 15-month low last week on concerns about a banking sector crisis in the United States that may spill over into other parts of the world.

Former Finance Minister Ravi Kar-unanayake yesterday said Sri Lanka’s deal with the Inter-national Monetary Fund to unlock the $ 2.9 billion Extended Fund Facility (EFF) will be mainly building international reserves to meet external payments and support of macroeconomic adjustment and structural reform programs amidst economic and political crises. Karunanayake, who in 2019 effectively handled $ 1.5 billion IMF bailout deal to boost foreign exchange reserves and avert a balance of payments problem, noted that it will be a catalyst to generate additional international financial assistance in three ways

State Minister of Indigenous Medicines Sisira Jayakody said that the Local Government Election will not be held on April 25 and a presidential election will be held in November.