Tag: lankabusinessonline

rnWith investor interest in the area perking up, development projects are beginning to get underway with road rehabilitation and water/sanitation projects, among those high on the agenda.rn rnIn addition to four large-scale industries in the area, there are a total of 3548 industrial units in the area employing some 15,000 people.rn rnMost of these are […]

The accord sets out specific time bound targets including detailed mechanism to monitor progress and also represents ADB quote s long-term commitment to Sri Lanka quote s future economic development, ADB President, Tadao Chino told a news conference. rnrnFinance Minister K N Choksy said the bank quote s assistance would go a long way to […]

ldblquote 2001 was one of the worst years in terms of economic performance.Poor monetary and fiscal management was compounded by a series of external and internal shocks, dblquote he said addressing a Norwegian Aid delegation on Sri Lanka quote s economic revival plan. rnrnHefty military spending, a stalled privatization programme and mounting losses at key […]

Finance Minister K N Choksy told a Norwegian Aid delegation headed by Olav Kjorven, Deputy Minister of Development Cooperation that a systematic framework was necessary after the government signed an indefinite truce agreement with the LTTE recently. rnHe said the Relief, Rehabilitation and Reconciliation framework, also known as the lquote Triple R document quote will […]

A Norwegian team of consultants are due this week to negotiate funding for coastal economy development, Finance Minister, K N Choksy told Lanka Business Online. rnrnldblquote The project will not be limited only to North and East. The Norwegian team will evaluate the entire coastal belt of Sri Lanka for potential development projects dblquote , […]

The Manila based bank, which funded economic development and poverty alleviation projects worth US$ 2.7 bn during its 34 years stint in Sri Lanka, has already launched a North East Community Restoration and Development Project. rnrnNew projects for community development and water supply in the East are also in the pipeline, said ADB President Tadao […]

Speaking at the Cabinet press briefing this morning, Prof. G. L. Peiris said that move was necessitated by the rising cost of living.rn rnHe added that Indian wheat would be available in the local market early next week at Rs. 15.00 a kilo, following successful negotiations by Premier Ranil Wickremesinghe during his recent trip to […]

ldblquote The budget will unveil many concessions for housing projects and other construction activities. This sector has been on a downward spiral for many years dblquote , Minister Bandula Gunawardene said. rnrnldblquote Investment in the construction industry has a multiplier effect on investment in the economy as a whole. It creates employment for all sectors […]

The government plans to set up a Revenue Authority to streamline the collection of taxes, customs and excise duties.

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 […]