Tag: lbo

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 […]

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, […]

The government quote s residual stakes in sugar plantations have been completed.Preparation work on disposing minority stakes in Lanka Marine Services (LMS), Shell Gas Lanka Ltd and National Insurance Corp. (NIC) are progressing as schedule. rnrnldblquote We are hopeful that we can conclude these three deals by end June or so, dblquote Chairman P B […]

But IMF quote s Deputy Managing Director Shigemitsu Sugisaki warned that promised structural reforms have to be stepped up if the country is to achieve a 6 percent growth in the medium term. rnSugisaki, who is the senior most IMF official to visit Sri Lanka so far, had a series of talks with the President, […]

Shigemitsu Sugisaki, is the most senior official dealing with Sri Lanka, will arrive on Tuesday for a two-day visit, the Central Bank said today. rnThe IMF last month resumed the stalled US$ 253 mn standby assistance programme following talks with the new government. rnTotal disbursement today stand at US$ 190 mn. Sugisaki quote s visit […]

rnMinister Bandula Goonerwardene at the Cabinet press briefing today said the government hoped to utilize the funds to boost local investments. The proposed Inland Revenue Special Provision Act, which will declare a 18 month clemency period to invest previously undeclared funds through capital investments in formal businesses.rn Prospective investors will not face penalties or taxes […]

Proceeds from the auction will be used as seed capital for the proposed Youth Corps, Minister Bandula Goonerwardene said.rn rnThe Gold collection, which includes 1521 bangles, 1192 rings and 1242 bangles, is currently placed with the Central Bank in eight separate deposits. rn rnIt is claimed that the JVP has build up this Gold reserve […]

Gunaratne is a Chartered Accountant by profession and presently is the Chairman of Sevanagala Sugar Industries. rnrnSevanagala Sugar, is in the process of being privatised with the government selling its 90 percent stake. Four parties have been shortlisted. rn

The Board has also approved Sri Lanka quote s request to extend the period of the current programme by two months to August 19 2002. rnrnThe Sri Lankan Government resorted to an US$ 253 mn stand by arrangement with the IMF early last year following a steep drop in official reserves and free float of […]

The rebel group quote s theoretician Dr.Anton Balasingham explaining his leader quote s stand said, ldblquote economic policy would be based on the open market system. [But] We can only think about the economic structure, after the conflict is resolved dblquote . rnrnThese statements are expected to somewhat mitigate the Sri Lankan business communities anxiety, […]

Cabinet spokesman Prof. G L Peiris announced that a decision to this effect was taken yesterday, allowing private operators re-enter domestic air travel. rnrnMeanwhile, in a shift of policy, the opposition members from across the floor will from now on be elected to chair the Public Enterprise Committee and the Public Accounts Committee. rnrnOpposition MP […]

An agreement for technical assistance for the SME sector was officially closed between the government and the ADB on March 27rn rnThe aid is being funded as a grant by the Japan Special Fund and is a component of the ADB-financed lquote Small and Medium Enterprise Sector Development Program quote loan of US$86 million.rn rnThe […]