Category: Economy and Markets
Sri Lanka revives automatic fuel price revision formula
The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy.The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy. “Recurrent expenditure […]
Sri Lanka promises Vehicle permits and higher pay for public servants
Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. The minimum salary […]
Sri Lanka offers tax-free ICC cricket
The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions.The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions. Finance Minister Sarath Amunugama said the concession would […]
Wobbly start for Sri Lanka’s 2006 budget presentation
Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]
How Amunugama nearly missed the bus
Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start.Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start. Official invitations sent out by the […]
Download the 2006 budget speech here
The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls.To read Finance Minister Dr. Sarath Amunugama’s speech, please click on the links below.The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls. To read Finance […]
Not Our Budget
Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]
Sugar Coating
Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. The […]
Budget – losing its significance?
While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance.While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. Successive governments, despite going through the pomp and pageantry of […]
Sri Lanka picks Citigroup to raise dollar loan
Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Funds from the […]
Sri Lanka’s private sector cold shoulders next week’s budget
Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]
Sri Lanka PM vows no more war on campaign trail with troops in Jaffna
Sri Lanka’s prime minister and presidential hopeful met Friday with troops in the Tamil heartland and vowed there would be no more war with Tiger rebels. Sri Lanka’s prime minister and presidential hopeful met Friday with troops in the Tamil heartland and vowed there would be no more war with Tiger rebels. Premier Mahinda Rajapakse […]