Sri Lanka’s total public debt stood at US$97.952 billion (Rs. 32.977 trillion) as of June 30, according to the latest report issued by the Public Debt Management Office (PDMO) of the Ministry of Finance.

The report, issued by the Public Debt Management Office states that as of June 30, the government’s debt alone amounted to Rs. 31.999 trillion, or US$95.047 billion.

In addition, the report records US$20 million in debt owed by provincial councils and provincial institutions, while US$2.885 billion represents debt of state-owned enterprises backed by government guarantees.

A sum of 80 billion rupees has been allocated for the project to introduce electric trains in Sri Lanka next year.

According to Railway General Manager Ravindra Padmapriya , speaking to News First’s “Dawase Vimasuma”, Sri Lanka is launching a major initiative to develop electric railways as a modern suburban transport system, with infrastructure plans finalized and construction targeted to begin next year.

The initial development focuses on major commuter lines connecting Colombo (Maradana) to key suburbs such as Ragama, Panadura, and Malawatta, alongside other regional extensions.

An estimated budget of 80 billion rupees has been allocated for this expansive infrastructure development. Ultimately, the shift toward electric trains aims to provide an efficient, fast, and eco-friendly transportation network for daily commuters.

Sri Lanka is targeting a further US$4.1 billion in investments to the Port City Colombo over the next five years, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe said.

In a social media statement, Abeysinghe said investments worth US$2.1 billion have already been confirmed for the Port City, as the government seeks to position the special economic zone as a major regional investment destination.

He said the Port City was presented as a key investment opportunity at an Australian investment summit held last week.

Among the international companies identified by the Deputy Minister as having investments or operations linked to the Port City are Horizon Group USA for a global shared services centre, Ansell for global operations, IGT1 for BPO and BPM services, KPMG for offshore professional services and GAC Services for logistics back-office services.

Abeysinghe said the government had also revised what he described as excessive tax concessions previously offered to Port City investors, seeking to bring the incentive framework closer to international standards without reducing its competitiveness.

Under the revised framework, primary Businesses of Strategic Importance can qualify for corporate income tax holidays based on investment criteria, while secondary businesses are eligible for a concessionary corporate income tax rate of 7.5% for four years. The revised framework introduced in 2025 provides primary businesses with tax holidays of up to 15 years.