New Brooms

President Chandrika Kumaratunga promised to overhaul the countrys messy tax system, introduce laws to help sick companies and inject policies to achieve a six to eight percent growth in the medium term.rn
Over the last two-years, she said that the national debt steadily rose to 106 percent of GDP from 103 percent, though the previous government put a lid on public investment and froze recruitments to the State sector.rn

rnThe newly create SEMA or Strategic Enterprise Agency, will control the public purse through strict fiscal discipline and prudent management.rn

rnSEMA will also look after state entities such as banks, power and utilities, which will not be privatised, but run as profitable businesses by infusing modern, managerial and technical expertise.rn

rnA National Procurement Agency is being set up to minimise corruption in State enterprises and cut delays in project implementations.rn

rnldblquote Through the increase revenue, reduction of waste and corruption, we plan to contain the fis