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Budget Report
Budget Speach – Part Irn rnBudget Speach – Part II
Reform tracking endash Budget Report
A new Economic Management Law will be brought to parliament, which will compel each ministry to report to parliament the progress made on reforms every six months.rn rnldblquote Under that law, the budgets for the respective ministries will be directly linked with the progress made in implementing reforms, dblquote Finance Minister Chocksy told Parliament on […]
Broad Base endash Budget Report
VAT will be slapped on wholesale and retail trade from July 01 next year.This will apply to businesses with a turnover of more than Rs 1.8 mn a year.
Credit Call endash Budget Report
The first in line includes all licensed commercial bank and specialised banking instructions, needing to have credit rating by January 2004.rn rnRegisterd finance companies and leasing companies that raise funds by issuing debt to the public will need a credit rating by 2005.rn rnMeanwhile, all other private companies that raise funds by issuing debt instruments […]
Capping Imports endash Budget Update
The government Wednesday proposed that all imported commodities excluding essential items such as wheat and crude oil to be subjected to import duties ranging from 2 per cent to 10 per cent.
Making IT Happen
Foreseeing the opportunities Sri Lanka would miss with every postponed day, policy makers are pitting the final touches to rollout the national Information Communication and Technology (ICT) Policy before end November. Previously scheduled to follow the National Communication Policy, industry officials say delays in getting the piece of legislation off the ground prompted them to […]
Public Service
Though many government servants are looking to the budget for a salary increase analysts say any increase will be tied to a voluntary retirement scheme.rn rnThe government has already gone public with voluntary retirement packages to state enterprises such as the Ports Authority, Ceylon Petroleum and Salu Sala.rn rnMeanwhile the Treasury has already frozen employment […]
Country Road
Top Central Bank and Treasury officials will hit the road next week to raise dollar funds for the government.The US$ 100 mn fund raising exercise will see a Lankan team touching Singapore, Dubai, Bahrain, London and Abu Dhabi.rn rnCentral Banks Deputy Governor, W A Wijewardene will lead the local delegation from November 11-14.rn rnLast month, […]
Czechs are here
The first European airline to come into the country since the peace process, started operations this week. The Czech Republic national carrier, Czech Airlines will use Sri Lanka as the airlines east Asian hub after having pulled out from Thailand recently.The other long haul flights available are to New York and Montreal.rn rnCzech airline will […]
Hunting Black Money
Government announced a sweeping amnesty for undeclared foreign assets and black money on Friday.rn rnIn one of the most comprehensive attempts at drawing out black money the treasury has extended the amnesty to cover all taxes.rn rnPrevious government amnesties have only covered the income tax liability.rn rnThe treasury said similar comprehensive immunity will not be […]