Tag: Sri Lanka
Next year’s budget success hinges on ambitious revenue targets, but a drop in economic growth, acutely shows the defeatism on the part of this nation.
Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of cutting the revenue deficit to 1.3 percent of GDP from – 3.7 percent this year, and keeping the overall deficit at 7.6 percent of GDP. Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of […]
Drawing Power
Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to the government’s maiden budget.Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to […]
Making babies, the UPFA way
Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath Leelananda Bandara Amunugama Thursday presented the United Peoples Freedom Alliances maiden budget speech in Sinhalese. Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath […]
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Professional fund managers will get a chance […]
Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert
Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert. Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert. He said the […]
Railway to operate as a commercial enterprise within the department structure
The railway will operate as a commercial enterprise within the department structure, says the Finance Minister.The railway will operate as a commercial enterprise within the department structure, says the Finance Minister. Delivering the budget plans for 2005 Minister of Fianance, Sarath Amunugama said the railway authority law would be repealed but that the railway will […]
The fledgling software industry will get a leg up through concessional sops to achieve a US$ 1 bn export earnings by 2012
The fledgling software industry will get a leg up through concessional sops to achieve a US$ 1 bn export earnings by 2012.The fledgling software industry will get a leg up through concessional sops to achieve a US$ 1 bn export earnings by 2012. In order to support this industry, the public sector will be required […]
‘s cash strapped government plans to fill up the coffers with higher taxes, but has scrapped plans for privatisation, according the budget estimates for 2005
Sri Lanka’s cash strapped government plans to fill up the coffers with higher taxes, but has scrapped plans for privatisation, according the budget estimates for 2005 released on Thursday Sri Lanka’s cash strapped government plans to fill up the coffers with higher taxes, but has scrapped plans for privatisation, according the budget estimates for 2005 […]
Tigers blame Sri Lanka president for talks deadlock
Sri Lanka’s Tamil Tiger rebels accused President Chandrika Kumaratunga of “deceit” as she gave the guerrillas two weeks to decide if they wanted to revive stalled peace negotiations Sri Lanka’s Tamil Tiger rebels accused President Chandrika Kumaratunga of “deceit” as she gave the guerrillas two weeks to decide if they wanted to revive stalled peace […]
Petrol and diesel would be market priced in the future, Finance Minister says
In a hopeful sign that responsible economic management may be returning to the country, Finance Minister Sarath Amunugama said, petrol and diesel would be market priced in the future. In a hopeful sign that responsible economic management may be returning to the country, Finance Minister Sarath Amunugama said, petrol and diesel would be market priced […]
Houses for migrant workers and public servants and cess on contractors
The government plans to revive the local construction industry with housing schemes for migrant workers and public servants and a cess on contractors.The government plans to revive the local construction industry with housing schemes for migrant workers and public servants and a cess on contractors. The budget on Thursday announced that the Construction Industry Guarantee […]
The government has approached the Revenue Authority of Thailand and the ADB to move the Inland Revenue Department to a new administration structure from next year
The government has approached the Revenue Authority of Thailand and the ADB to move the Inland Revenue Department to a new administration structure from next year. This will include investment into human resources, automation, professional tax audits from next year. A new tax code is to also be rolled out shortly, Finance Minister Sarath Amunugama […]