Tag: economy

Mopping up past mistakes and infusing fresh discipline in the 225 state owned enterprises, a mandatory Code of Best Practices in Corporate Governance has received the cabinet green light.rn rnSeven of the largest public enterprises and four state banks are to be re-hauled when the code comes into force by January 1 next year, before […]

Surveys have indicated that unofficial operators are offering attractive rates and better service to expatriate workers. rnThe foreign exchange is kept out of the banking system and the national economy. rnMinister Samarasinghe was speaking at the launch of a new award scheme for foreign employment agencies launched by the Bureau of Foreign employment.rn

Sri Lanka is pushing for trade in services including tourism, shipping, software, agriculture and port development to be included under the FTA. rnSri Lanka also looking to push agro exports in cloves and spices where locals have a competitive edge in terms of lower prices and quality goods. rnIndian help is also being sought for […]

Despite a dismal 0.1 percent growth in the first quarter, Central Bank quote s Deputy Governor P M Nagahawatte says the economy is on target to achieve a 3.7 percent growth this year. rnThe bank quote s Statistics Director, Dr. Anila Dias Bandaranaike said improved rains, recovery in imports, the recent rally in the stock […]

An ADB release said ldblquote The funds, from the existing Second Power System Expansion project, will rehabilitate low voltage transmission and distribution systems and will complement the recently-awarded private sector contract for 20 megawatts of emergency power for Jaffna.dblquotern rnThe Ceylon Electricity Board has been entrusted with the rehabilitation project. rn rnIn an earlier resolution […]

The suggestion that a post-implementation review (PIR) mechanism be put in place was mooted at the recent development forum held in Colombo. rnrnServing a kind of watchdog function, a team of multi-disciplinary professionals conducts the audit at the completion of selected projects or any significant capital expenditure commitments. rnrnProgress reviews of this kind are usually […]

Legislation to divide the country into five industrial zones under the Board of Investment (BOI) has gone a step ahead, with the draft Act being finalised, Enterprise Development Minister, G.L. Peiris said today.

ldblquote It is vital that fiscal programme remains on track to ensure that the overall budget target of 8.5 percent of GDP is not exceeded, while protecting pro-poor spending, dblquote IMF quote s Deputy Division Chief (Asian & Pacific Dept.) Jeremy Carter said addressing delegates at the Sri Lanka Development Forum today. rnrnCarter urged the […]

rnSri Lanka quote s top trade chamber, the Ceylon Chamber of Commerce, has identified three priority areas for development by the private sector, on a commercial scale. rn rnThese include low cost housing, repair and rehabilitation of road networks as well as construction and operation of up to three star level hotels and tourist facilities.rn […]

The bank said the deficit for the first quarter shrank 18.5 percent to US$ 277 mn from US$ 340 mn recorded in the same period 2001. rnrnExport earnings for the quarter slipped 15.2 percent to US$ 1,080 mn compared with US$ 1,274 mn in 2001. rnrnImport expenditure dropped by 15.9 percent to US$ 1,358 mn […]

Increasing food prices pushed the Colombo District Consumer Price Index up by 6.5 per cent (point to point) to 137.9 from 137.1 in April.

Held for the first time in Sri Lanka, the forum brings together donor countries and lending agencies. rnrnUnlike the earlier Paris Aid group meetings, the parley is not a pledging conference. rnrnThe government will present the second draft of its Poverty Reduction Strategy Paper (PRSP), which will highlight possible areas for donor funding. Another document, […]