Tag: Finance

The Public Enterprise Reforms Commission is to be restructured this year expanding its scope to include monitoring State investments. The restructuring is expected to speedup the restructuring and privatisation of state enterprises while improving transparency in the process.rn rnPERC Chairman Chrisantha Perera told LBR that over the years, the commission has been regarded only as […]

Economists are warning that key fiscal targets could be missed as donors pledge a record amount of aid.Most of the US$ 4.5bn pledged at the Tokyo Donor Conference is debt on concessionary terms that eventually have to be repaid.rn rnAnalysts say this would automatically raise the countrys debt stock and the Debt to GDP Ratio.rn […]

The Public Enterprise Reform Commission (PERC) plans to become a monitoring agency to look after the governments residual stakes in public corporations.The Treasury is putting together a list of companies the government has shares, which also includes financial institutions, PERC Chairman, Chrisantha Perera said.rn rnldblquote Some of these residual holdings are in restructured corporations or […]

Sri Lanka has a 45 percent chance of achieving peace within a volatile political situation, which will push the Colombo bourse up by 25 percent to 30 percent.HNB Stockbrokers in their country strategy report ldblquote The Lion Emerges dblquote has come up with a risk matrix and the road map the Colombo market will take.rn […]

Far from the buzz and the luxuries of a metropolitan city lie the backwater villages of the Uva and Southern Provinces, home to some of the most impoverished people in Sri Lanka. A revolution is sweeping through endash doctored by the Ministry of Rural Economy and funded by a US$ 40 million World Bank soft […]

International donors wrapped up the two-day Tokyo parley pledging over US$ 4.5 bn in aid over the next four years to rebuild Sri Lanka.The amount includes US$ 1 bn each from Japan and the Asian Development Bank and US$ 293 mn from the European Union (EU).rn rnThe US$ 4.5 bn package spread through to 2006, […]

The trade deficit widened during the first four months of this year as the import bill galloped ahead of total exports, the Central Bank said Tuesday.The bank said the deficit from January to April rose to US$ 566 mn, from US$ 503 mn during the same quarter last year.rn rnDespite a yawning deficit, the Central […]

International donors pledged over US$ 4 bn by way of aid at the Tokyo Conference on Reconstruction and Development of Sri Lanka, which opened on Monday morning.Japan, Sri Lankas largest donor opened the floor by pledging a US$ 1 bn to rebuild the economy.rn rnAsian Development Banks President, Tadao Chino offered another US$ 1 bn […]

Donors are expected to offer substantial support at a key aid meeting in Japan despite a lukewarm response from the LTTE. The donor conference in Tokyo will look at the aid requirement for the whole country with most of the monies offered to projects and programs in South of the country.rn rnThe government is expecting […]

The Urban Development Authority (UDA) is moving into Jaffna, rolling out plans to develop urban centres in key Northern towns.ldblquote We are giving priority to urban centres in the North, especially Jaffna, Batticaloa, Kalmunai, Valachennai, Chavakachcheri and Kilinochchi as well dblquote , says Director General of the UDA, K Dharmasiri.rn rnThe UDA has already had […]

Traditionally, most of Sri Lanka quote s mega construction projects have been awarded to foreign contractors. But local construction companies say its time the scales are balanced.Mega projects are often those that are foreign funded and value wise, is huge, with an average Rs. 20 bn worth of work in this sector each year.rn rnIt […]

A top state official is calling the government to break away from being over dependant on aid agencies. BOI Chairman Arjunna Mahendran pointed out that governments are over dependant on aid and donor assistance from agencies such as the IMF and the World Bank that state agenda is rerouted to facilitate them.rn rnldblquote I feel […]