Tag: lbo
How the budget will affect Sri Lanka’s corporate sector and the stockmarket – C T Smith Stockbrokers
Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed.Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed. A number of significant proposals impacting specific companies or sectors in the Colombo Stock Exchange have been put together by C T Smith Stockbrokers. Proposals that […]
Sri Lanka army prepares for war and hopes for peace
Sri Lanka’s combat aircraft and ground troops are ready to be deployed at short notice in the aftermath of a wave of violence that killed 31 people, the military top brass announced Friday.Sri Lanka’s combat aircraft and ground troops are ready to be deployed at short notice in the aftermath of a wave of violence […]
Farmers get bumper harvest from budget
Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs.17.50. Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs. 17.50. The Budget proposal said that all […]
Discounted Power
President says coal power and upper Kotmale hydro power project are top priority in infrastructure development.President says coal power and upper Kotmale hydro power project are top priority in infrastructure development. Delivering the budget speech, President Mahinda Rajapaksa said “the coal power plant and Upper Kotmale hydro power project will be given highest priority in […]
Budget 2006 – Fabric First
The government will allocate Rs.350 million to write off unpaid loans accumulated by the fabric processing industry in 2006.The government will allocate Rs. 350 million to write off unpaid loans accumulated by the fabric processing industry in 2006. The move will help the government restart fabric manufacturing in Thulhiriya and in Horara. The state is […]
Sri Lanka asks Norway to save peace bid, as ambassador visits the north
Sri Lanka has asked Norway to keep trying to broker peace with Tamil Tiger rebels amid a recent spate of violence which has killed 29 and raised fears that the country could slip back into war.Sri Lanka has asked Norway to keep trying to broker peace with Tamil Tiger rebels amid a recent spate of […]
Tax breaks to push investments outside Colombo
Sri Lanka’s 2006 budget starts off on its new tax regime with a tax exemption for the island’s favourite pastime, cricket.Sri Lanka’s 2006 budget starts off on its new tax regime with a tax exemption for the island’s favourite pastime, cricket. The Mahinda Chintana Budget gives a tax exemption for the 16 country under 19 […]
Budget 2006 – Rebuild the agro sector to support the rural economy
Presenting his maiden budget, President Mahinda Rajapaksa said his government would rebuild the agro sector to support the rural economy.Presenting his maiden budget, President Mahinda Rajapaksa said his government would rebuild the agro sector to support the rural economy. Key inputs to develop the rural agro economy will include special loan shchemes, subsidized fertilizer and […]
New power projects needed to be implemented as a priority.
The President in his maiden budget speech said new power projects needed to be implemented as a priority.The President in his maiden budget speech said new power projects needed to be implemented as a priority. However, to compensate residents for any inconvenience from the power plants, the president has proposed to offer concessionary rates to […]
The local film industry will get a series of concessions
The local film industry will get a series of concessions, including a rs.50 mn allocation in 2006 to set up infrastructure for acting development.The local film industry will get a series of concessions, including a rs. 50 mn allocation in 2006 to set up infrastructure for acting development. Meanwhile, foreign films will be slapped with […]
Agro sector gets priority
Fertiliser subsidy 8.5 bn. Sector to be freed from all taxs.Concessionary capital to vegetable and fruit farmers. Rs. 10 bn revolving fund for plantation sector and special concessions for replanting Rs. 300 mn for seed farm development ESC on plantation factories down to 0.5 percent from 1 percent Fertiliser subsidy 8.5 bn. Sector to be […]
Some of the key highlights of the revised 2006 budget
Some of the key highlights of the revised budget for 2006: Some of the key highlights of the revised budget for 2006: • The budget deficit for 2006 was estimated at Rs.197 billion, up from Rs. 168 billion this year. • The deficit was equivalent to 7.1 percent of GDP (minus tsunami related costs) both […]