Tag: lbo

The Government is giving Parliament more power to crack the whip on errant public institutions and corporations by strengthening the Parliamentary Public Accounts Committee.The committee will be given more ammunition to fire at State officials who delay accounts of Government institutions, Ministries and Corporations.rn rnThe Government has already put the committee under opposition leadership. rn […]

As some of the Tokyo aid dollars begin to roll in, a top level government committee is looking at fast tracking some of the key infrastructure projects.Top among the list is a series of road networks that is aimed at spurring economic growth and creating new jobs.rn rnCabinet Spokesperson, Prof. G L Peiris says a […]

Sri Lankas cash float just got heavier, with the World Bank upping its aid from US$ 800 mn to US$ 1 bn over the next four years. rnldblquote For the next two years we are allowed to increase our commitment from US$ 200 mn a year to US$ 300 mn, taking the four year total […]

Potential Euro-Sri Lankan business partners in the plastics and rubber sector will be linked up via a joint trade database floated today.rn Launched by the European Chamber, this will serve as a data source on rubber and plastic companies, product profiles, areas for joint ventures and technical assistance.rn rnThe database (www.eccsl.com) would be the starting […]

Government plans to set up 14 Oversight Committees to look over key state functions is on track, with proposals going to parliament in a few weeks. ldblquote The proposals for the oversight committees are now ready and will be presented in parliament in the coming weeks dblquote , Enterprise Development Minister G.L Peiris said Thursday.rn […]

The Finance Minister said last week that fiscal targets were on track in his first Fiscal Position Report. The Government said that privatisation proceeds were expected to be higher than the estimated Rs.13.5 bn. rn rnAn upbeat finance minister told the media a few days ago that the governments fiscal program was on track despite […]

Sri Lankas top trade chamber has commended the government on pushing ahead with a series of legislative reforms, but said more work needs to be done to implement policy reforms.In its annual balance scorecard on the governments 2003 budget, the Ceylon Chamber of Commerce (CCC) says the government has made some effort to reform sectors […]

ADB on Wednesday approved a technical assistance (TA) grant of US$800,000 to pilot test two community information networks that will bring vital information to the poor and disabled in two districts of Sri Lanka. The grant, from ADBs Poverty Reduction Cooperation Fund, will establish the networks to link district offices, schools, training institutes, job placement […]

Limited energy supply could hinder a so far promising economic recovery over the next few years, Central Bank officials warned today.rn rnldblquote If the economy continues to grow at a healthy pace, we are concerned as to where the power will come from to sustain it, with emergency power also coming to an end by […]

The Value Added Tax continues to disappoint with revenues again falling short of expectations, with rising refunds eating away at collection.ldblquote Refunds under the of input credit under GST/VAT has increased from 12 per cent in 2002 to 14 per cent in 2003, dblquote Finance Minister K N Choksy said making his comments on the […]

The Sri Lankan economy grew by 5.5 percent in the first quarter of 2003, up sharply from growth of 0.1 percent in the same period last year, Finance Minister K N Choksy said Monday. “All the main sectors of the economy showed resilience and greater output,” Choksy said making his comments when releasing the governments […]