Author: lbostgadmin
Naughty Naughty
The telecom watchdog won the first round against Mobitel on Wednesday, when the Court Appeal rejected a stay order put forward by the cellular operator.Mobitel Lanka Ltd sought legal recourse, after the Telecommunications Regulatory Commission (TRC) asked the cellular operator to withdraw its promotional GSM offer last Friday.rn rnThe cellular operator started trial runs for […]
Golden Rule — Budget Comment
Sri Lankas 2004 budget is again breaking the lquote golden rule of budgeting, but its ambitious deficit target of 6.8 percent is more in line with the countrys sustainable deficit level.rnrnrnrnrnrnNew Page 1rnrnrnrnrn Therngolden rule of budgeting is actually simple common sense.rn Itrnsays that the governments revenue (taxes and so on) should cover itsrnday-to-day expenses. […]
Bonus Stocking
All pensioners are in for a New Year bonus, with a ten percent hike in pensions from January 1 2004, the Government announced in its budget on Wednesday.rn ldblquote This is the largest increase granted to pensioners during the past ten years. This increase will cost the Government Rs.2.5 bn dblquote , Finance Minister Choksy […]
Bond Raiser
The Board of Investment will tap into the local bond market, to raise up to Rs.2 bn to fund a new Economic Trade Zone, north of Biyagama. The second Economic Trade Zone called Biyagama II is to be rolled out in Wednesdays budget, and housed on a 300-acre stretch of land. rn rnldblquote We will […]
Dicey Union
An impending marriage between the Marxist JVP and the main opposition Peoples Alliance Party re-surfaced on Tuesday resurrecting vibes that a snap poll was imminent. The news comes on the sidelines of a crucial meeting between President Chandrika Kumaratunga and Prime Minister Ranil Wickremesinghe scheduled for Tuesday to end a political deadlock.rn rnThe news also […]
Stalemate
The much-awaited second rendezvous between the Executive and the Legislature ended on a stalemate with a committee appointed to look into their grievances.The committee is expected to spell out future working arrangements lquote under which the President and the Prime Minister can work together on national issues, a joint statement said Tuesday.rn rnTuesdays meeting between […]
Its Not Done
Sri Lankas parliament Wednesday ruled as illegal the presidents suspension of the assembly two weeks ago and said it will disregard any future attempt to disrupt the legislature. rnSpeaker Joseph Michael Perera said that President Chandrika Kumaratunga had no authority to suspend the parliament without the concurrence of the parliament, which is controlled by a […]
Budget 2004
A Collection of Articles related to the 2004 Budget published on LBO rnrn rn rn rnChoksys Sweeteners rnrn rn17 November 2003 rnrn rnrnThe UNF government, which has been progressively clubbing the opposite camp with rnthe peace process, is getting ready to open a second front with the rnbudget…….. rn
Can or Cant?
Central Bank cut its 2004 GDP growth forecast to six percent from an earlier 6.5 per cent after factoring in current uncertainties in the peace process and the political front.Projections for 2004 however, still remain above the 2003 economic growth target of 5.5 per cent.rn rnThe Central Bank said if the political spat found a […]
So Far So Good
Sri Lanka enters the penultimate lap for its 2004 budget, with a great deal of apprehension as to whether Parliament will be dissolved on Tuesday midnight.Finance Minister K N Choksy by Tuesday evening was still scheduled to present the 2004 budget in parliament on Wednesday at 2.30 pm. rn rnThe air of speculation was high […]
French Toast
The government on Monday put forward alternative suggestions to solve the lquote Southern political impasse, but declined President Chandrika Kumaratungas offer to form a national government.A French system of power sharing has been mooted to bring about a lquote Southern consensus, which will set the parameters for future peace talks.rn rnKumaratunga has been proposing a […]
Choksys Sweeteners
The UNF government, which has been progressively clubbing the opposite camp with the peace process, is getting ready to open a second front with the budget.This time the targets include farmers and public servants; and high on the mind of Finance Minister K N Choksy, are the armed forces.rn rnldblquote Public officers and those who […]