Category: Economy

The Fund quote s Executive Board would decided when to release the balance funds, once it evaluates the budget proposals for fiscal reforms that are mainly aimed at lowering the deficit, IMF quote Jeremy Carter said in an interview today. rnrnThe balance is likely to come in two equal tranches, one immediately after the budget […]

Trade data for the first 12 months of 2001 shows the deficit has narrowed down to US$ 1.157 bn, as against US$ 1.798 bn deficit during the same period in 2000. rnThe deficit narrows further to US$ 1.500 bn when the trade data excludes the value of three SriLankan airlines aircrafts imported during the same […]

Despite as many as 4000 consumer rights groups floating in Sri Lanka, most are inactive, hindered by a lack of sufficient funding. rnrnLobbyists have come forward with suggestions that a welfare fund be set up making it mandatory for consumers to contribute to the fund. rnrnldblquote Just like other taxes GST or NSL, we are […]

The government has also decided to shift the venue of the customarily aid group meeting from Paris to Colombo, in order to allow a greater participation of Sri Lankan officials in the discussion, Cabinet spokesman Minister G L Peiris said today. rnrnldblquote This change of venue will allow most of the officials who are in […]

Finance Minister K N Choksy said around Rs. 29.7 bn were needed for a month starting from March 19, until the budget debate is concluded. rnrnHe estimated government revenue during the one-month period to be Rs. 18.8 bn. Additional funds, he said could be met under a special Loans Act. rnrnThe annual November budget has […]

The current labour legislation, which is considered to be archaic by donor agencies and investor community, prevents flexible employment policies being adopted by investors.These laws are also identified as a major competitive disadvantage for Sri Lanka when compared with more de-regulated labour markets in South East Asia. rnrnldblquote Labour reforms are vital since the private […]

Rajapaksa was better known for his loyalty towards Sri Lanka Freedom Party, the key constituent party of PA, which his father helped to form, than his loyalty towards the President. rnrnDuring his stint as the Labour Minister in the PA government he introduced the controversial Labour Charter, which earned him the wrath of business community. […]

Amendments to the Companies quote Act would focus on enhancing minority shareholders rights and disclosing directors quote duties, he added. rnrnCommenting on the impending maiden budget of the government, Pieris said budget will be presented in third week of March, followed by a shorter than usual Parliamentary debate in order to approve the provisions by […]

The survey selected 200 medium and large-scale businesses operating in Colombo and Kurunagela to identify major regulatory impediments affecting economic development in the country. rnrnAccording to the survey, a business loan on average takes 56 days to process and nearly 2 percent of the loan value is spent fulfilling the regulatory requirements of the loan. […]

Out with the old and on with the new, Sri Lanka quote s decades old consumer price index has finally lquote hit the basket quote , giving way for revamped lquote Sri Lanka Consumer Price Index quote (SLCPI).

The Central Bank plans to adopt Inflation Targeting during this year as a policy measure to control inflation, Governor A S Jayarwadene told Lanka Business Online today.rn rnInflation Targeting is a method adopted by some Central Banks in the developed countries, to effectively control long run inflation by publicly announcing inflation targets and monetary policy […]

The agreement on Administrative Arrangements for Cooperation sets out the framework and processes that will lead to better coordination and division of labor among the institutions in providing assistance to the Asia-Pacific region, ADB said in a release today. It emphasizes closer consultation on country assistance strategies, the elimination of duplication of efforts, the harmonization […]