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Treasury's Missing Millions & CPC's $286 Diesel Bill Rock Colombo; US-Iran Tensions Send Oil Past $110
Wednesday, April 29, 2026 · 47 stories · Updated 3h ago

Treasury's Missing Millions & CPC's $286 Diesel Bill Rock Colombo; US-Iran Tensions Send Oil Past $110

The Pulse
In 30 Seconds
  • CID probes $2.5M Treasury loss, summons Finance Secretary over alleged cyber theft.

  • CPC admits paying $286/barrel for diesel, sparking public and political outrage.

  • Global oil prices surge past $110 as US-Iran conflict closes Strait of Hormuz.

  • Airport drug bust expands; Foreign Employment Bureau employee arrested for distribution.

  • CID questions Maithree Wickremesinghe in public funds misuse investigation.

The Bigger Picture

Sri Lanka's economic vulnerabilities are starkly exposed as international crises intersect with domestic accountability issues. The escalating US-Iran conflict has sent global oil prices soaring past $110 a barrel , amplifying the controversy surrounding the Ceylon Petroleum Corporation's admission of a $286 per barrel diesel purchase . This external pressure coincides with intense internal scrutiny over state finances, highlighted by a parliamentary probe into a missing $2.5 million Treasury payment and corruption allegations from the opposition , creating a perfect storm of economic and political challenges.

Politics17 stories

Political scrutiny has intensified with the CID recording a statement from Maithree Wickremesinghe over an alleged misuse of LKR 16.6 million in public funds for a private trip

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. Separately, SLPP MP Namal Rajapaksa has alleged widespread government corruption, citing the missing US$ 2.5 million from the Treasury and the release of 323 uninspected containers

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. In a positive development, the Cabinet has approved permanent appointments for 9,800 temporary state employees

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. The government is also accelerating Cyclone Ditwah relief efforts, with Cabinet approving an interim housing project for the displaced

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. On the international front, the US-Iran conflict has dramatically escalated over seven weeks, marked by a naval blockade, military strikes, and severe threats from President Trump, who warned he could "take out Iran in one day"

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. This is compounded by a separate incident where a suspect was charged with the attempted assassination of President Trump at a correspondents' dinner

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Economy12 stories

A major financial controversy is unfolding as the CID investigates a missing USD 2.5 million payment from the Treasury, informing the court that funds were diverted via a slightly altered email domain during a loan restructuring process with Australia

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. The Committee on Public Finance has summoned the Finance Secretary and Central Bank Governor to testify on the matter

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. Compounding economic woes, the Ceylon Petroleum Corporation (CPC) admitted to purchasing diesel at a staggering $286 per barrel, clarifying it was not for crude oil but sparking widespread criticism and threats of legal action against media outlets

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. This comes as global oil prices surged above $110 a barrel due to the continued closure of the Strait of Hormuz amid the US-Iran standoff, directly impacting Sri Lanka's import bill

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. On a brighter note, tourist arrivals have surpassed 850,000 for the year as of late April

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Crime7 stories

The investigation into the major airport drug bust has expanded, with the Police Narcotics Bureau arresting a Foreign Employment Bureau employee for allegedly storing and distributing narcotics smuggled from Thailand by a group of monks

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. This has prompted the Tri-Chapter Mahanayake Theros to publicly denounce individuals posing as monks involved in drug trafficking

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. Meanwhile, the death of an inmate at Welikada Magazine Prison is under investigation, with the family alleging he was beaten to death

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. Nationwide anti-drug operations continue, with 989 suspects arrested on April 26th alone and a mother-daughter duo apprehended in Millaniya with heroin

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General3 stories

The 'Global Walk for Peace Sri Lanka', also known as the "Ehipassiko" peace walk, concluded after seven days with a state ceremony at Independence Square, Colombo, attended by President Anura Kumara Dissanayake

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. A special traffic plan was implemented for the finale, restricting movement on several key roads

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. In a maritime incident, the Sri Lanka Navy successfully conducted a rescue operation, bringing ashore a fisherman who had sustained a serious arm fracture while at sea approximately 45 nautical miles south of the island

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Environment3 stories

Sri Lanka continues to experience dynamic weather patterns, with the Department of Meteorology forecasting widespread showers and thundershowers for April 30th, particularly after 1:00 p.m., while also warning of lightning risks

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. This follows a prolonged period of a persistent heatwave, with 'Caution level' heat index advisories remaining in effect for numerous provinces and districts

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. In a move to enhance aviation safety and conservation, a new agreement will see the establishment of a dedicated wildlife office at Mattala Rajapaksa International Airport to minimize wildlife-related incidents

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Accident2 stories

In Bogawantalawa, a school bus accident attributed to brake failure resulted in 34 students being hospitalized with injuries

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. Internationally, a fatal train collision near Jakarta, Indonesia, has claimed 14 lives and injured 84 others, with a signal error suspected as the cause

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Education2 stories

The University Grants Commission (UGC) has officially opened online applications for the 2025/2026 academic year, following the release of the 2025 G.C.E. Advanced Level results

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. Over 176,000 students who qualified are eligible to apply before the May 19 deadline, with the university admission handbook now available for guidance

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Health1 story

A critical healthcare service has been disrupted as PET scan services for cancer patients are suspended in major state hospitals, including Maharagama Apeksha Hospital. The suspension, in effect since March 27, is due to a severe shortage of the essential radioactive chemical Fluorodeoxyglucose (FDG), reportedly caused by supplier registration issues with the NMRA, forcing patients to seek costly private alternatives

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