Category:
Going Private
People’s Bank has engaged an international consultant B D O Binder to draft the terms of reference to get its privatisation on the road.rn rnBinder has already submitted a first draft of the terms of reference or TOR, which will be used to engage a consultant to draft an information memorandum.rn rnThe memorandum will be […]
Taxing Taxes
The government firmed up plans announced in its 2002 budget through its latest fiscal forecast on Wednesday.rn rnThe retail and wholesale trade will be slapped with Value Added Tax while the scope of the Withholding Tax was expanded.rn rnHowever, landing VAT on financial services and the continuation of the port and airport development levy came […]
Best Brands
SLIM Brand Awards organizers say the event has helped re-enforce the value of brands in the minds of local corporate leaders.Traditional accounting procedures do not really capture the value of intangibles, though such assets may be more important for modern companies than more easily measured ones.rn rnldblquote The vision behind Brand Excellence is to motivate […]
The Grand Vision
The grand vision usually decorate the first part of the budget, and is usually not implemented was not much in evidence in this year quote s budget. rn rnIn fact most of the initiatives listed were already quietly underway.rn rnThe budget instead focused on what budgets are generally supposed to do, that is, laying the […]
Affordable Houses
Employees Provident Fund monies will be lent for lower middle class housing loans with a treasury subsidy.rn rnOf the Rs. 3 bn in loans the government plans to provide up to Rs. 1 bn through the Housing Development Finance Corporation or HDFC.rn rnOne and a half billion rupees are expected to be channeled through the […]
AID Flow
The concessionary loans, a total of US$ 50 million, topped off with US$ 10 million from the government will go towards poverty elevation and development of infrastructure and natural resources.rn rnFor the plantations sector the ADB facility, unlike previous assistance projects, will form a plantation fund to invest in equity and quasi-equity in the plantations […]
SLT Mobile
Investing US$ 70 million over the next two years to put in place a 2.5 G GSM core network, Mobitel intends to expand its coverage into the all major cities including the north and east.rn rnGoing according to schedule, a fully functional 2.5G GSM network is expected by mid 2003.rn rnOfficials say the selected 2.5G […]
Call Complete
The long overdue national communications policy got cabinet approval earlier in the week, with plans now afoot to hasten its rollout.Secretary to the Ministry of Mass Communication, Kumar Abeyasinghe told Lanka Business Online that the policy was approved by cabinet and was now looking at implementing it as soon as possible.rn rnMeanwhile, stringent laws strengthened […]
Travel travails — Budget Report
Meanwhile tourist board approved hotels will also face a 1 per cent charge from April 01, which will be used for tourist development.rn rnThe duty free allowance of Sri Lankans working abroad for more than one year will be raised from US $ 1500 to US $ 1750.rn rnThe port and airport levy imposed on […]
Road Rules – Budget Report
The government hopes to set up a road fund, monies of which will go towards maintaining and developing Sri Lanka quote s road network.rn rnContributions to the road fund will come from an additional charge to be imposed on licence renewals.rn rnThe government estimates to generate up to 500 million in 2003, and will directed […]
Mutual Benefit – Budget Report
Unit trust and mutual funds will be taxed once, and income will be tax free in the hands of the unit holders according to the latest budget proposal.rn rnMutual funds that invest in specified areas will be taxed at only 10 per cent on interest and dividend income while others will be taxed at a […]
Steering Off endash Budget Report
The government is expecting to end the year with a budget deficit of 8.9 per cent of GDP, which is just 0.4 per cent off target.rn rnThis is the best any government has done in recent years, with deficit target of 1.5 per cent to 2.5 percentage points being an accepted norm.rn rnThe overall deficit […]