New Licence

Signalling an economic revival, the Registrar of Companies reports a 35 percent growth in new companies registrations from Jan-June 2003.
Of the 1778 new registrations, 1632 are private firms, 41 public, 30 guarantee, 53 associations and 8 peoples companies.rn

rnThere were also 12 new foreign companies and one offshore company that sought registrations during the period, Commerce Minister, Ravi Karunanayake told a news conference on Friday.rn

rnCommenting on upcoming changes in the Registrar of Companies, he said the department is in the process of being commercialised and will be fully automated by next January. rn

rnldblquote We are looking at bringing in private management, and outsourcing some of the staff. Of the 70 odd people on the payroll now, 54 people turn up to work with only five to six people actually working,
dblquote he said. rn

rnA US$ 1.6 mn World Bank project has got underway to spruce up the Registrar of Companies and bring it up to similar lines of its Malaysian counterpart