Sri Lankan Entrepreneurs must come forward to guide the Government before detrimental, irrevocable economic agreements are signed 15 years of Indo-Lanka FTA Sri Lanka signed a Free Trade Agreement (FTA) with India in 1998 that came into operation from January, 2000. This agreement which was signed in a rush has not been able to bring…
The committee appointed by Prime Minister Ranil Wickremesinghe to inquire into the recent Central Bank Treasury Bond issue has stated that Governor Arjuna Mahendran had no direct role in deciding to accept bids over and above the Rs 01 billion stipulated in the 30-year bond tender and accepting up to Rs. 10 billion. However, the…
The latest interim report of the Committee on Public Enterprises, better known as COPE, has revealed that Rs. 2.5 billion obtained from the state-owned Bank of Ceylon by around ten high profile clients remain as non performing loans. The COPE interim report for the period between October 2014 and March 2015 naming several institutions and…
Since the beginning of the recent Presidential election campaign, development projects initiated or implemented by the Rajapaksa administration have come under severe criticism by the opposition, mainly on the grounds of corruption or wasteful expenditure. Although the allegations are still being made and are yet to be substantiated in a court of law it is…
UPDATED: The proposal by the government to issue an additional Rs. 400 billion worth of Treasury Bills in a bid to increase its local borrowings has been defeated in Parliament a short while ago. Thirty one members voted in favour of the proposal while 52 voted against. The government was keen on issuing Treasury Bills…
Authored by Dr. SirimalAbeyratne, Prof of Economics, University of Colombo for The pathfinder Foundation When we look at the developments in the economic policy arena after the Presidential elections, we hardlysee any way forward for Sri Lanka. Apart for revisiting governance issues, what we findispolicy actions that were “defensive” and “corrective” in form but is…
In response to reports that the contract to extend the runway at the Katunayake International Airport awarded to Access Engineering PLC has been cancelled by the government due to it not possessing the experience to undertake the contract, Access Engineering has issued the following statement:
The Sri Lankan government has amended the tax regulations to enable the ‘Mansion Tax’ introduced by the interim budget to be paid in four installments. According to the amendments, the government has stated that an annual ‘Mansion Tax’ would be imposed on houses valued at more than Rs. 150 million or of floor area of…
With the new government through its interim budget proposing to impose a monthly tax of Rs. 200 million on each local distillery, they would be forced to close down, says the Medium Scale Distillery Employees’ Union. According to them, paying this tax would not be an issue for four large companies active in Sri Lanka’s…
Construction work on Colombo Port City Project stopped, despite loss of over USD 380,000 per day China Construction Communication Company Pvt. Ltd (CCCC) categorically states that all construction work on the Colombo Port City has stopped following the Sri Lankan Government’s official communication on 6th of March 2015 issued by the Secretary to the Ministry of…
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