Presidential Advisor Lalith Weeratunga says ensuring consistent vaccine flow key challenge to immunisation campaign Says focus on vaccinating economically important population segments Even though 26 m doses needed, Govt. has received only 1.2 m Wants 13 m people above 30 years vaccinated quickly Observes no issues with vaccine drive, public support Govt. willing to … [Read more...] about Regular vaccine supply biggest constraint: Govt.
Economy
CB focused on driving Rs. 170 b credit to MSMEs
CB Governor Prof. W.D. Lakshman – Pic by Lasantha Kumara Keeps policy rates steady but wants stronger credit flows to MSMEs Targets 20% of Rs. 850 b private sector credit growth for MSME sector Says lending targets will be issued to banks in coming weeks Pledges to keep interest rates static to support economic revival, 1Q growth target 3-3.5% Pre-auction … [Read more...] about CB focused on driving Rs. 170 b credit to MSMEs
Multipronged impact on SL from high commodity prices: Report
Rising global fuel prices expected to drive up Sri Lanka’s import bill leading to currency pressures Commodity price hikes to cause currency pressure, stress utility companies and push inflation Multiple sectors including agri, construction and lubricants to be affected Cost increases likely across the board, industrial metals to rise 14%-16% Rise in oil prices to … [Read more...] about Multipronged impact on SL from high commodity prices: Report
Govt. should focus on reserve quality: Former CB Chief
Former Central Bank Governor Dr. Indrajit Coomaraswamy Warns overreliance on swaps and inter-governmental financing could create more problems down the road Acknowledges current challenges but says strategy needed to deal with debt for next five years Concerned low-quality reserves impedes autonomous monetary policy Calls on policymakers to focus on structural … [Read more...] about Govt. should focus on reserve quality: Former CB Chief
WindForce invites investors to share in exponential growth in SL and overseas
The demand for renewable energy is steadily rising in the world to mitigate negative repercussions of using decades of non-renewable resources and fossil fuels. The topic of energy security is taking centre-stage in the island of Sri Lanka. In this exclusive interview, WindForce Ltd. (WIND) Managing Director Manjula Perera ex-plains why the company is leveraging on the rising … [Read more...] about WindForce invites investors to share in exponential growth in SL and overseas
Cabinet green light for WCT India-SL-Japan JV
Adani and JKH get approval to develop terminal with Japan 35-year BOT proposal already sent to both embassies India responds; Japan reply awaited Keheliya backs India and Japan support, says foreign investment essential Insists trade unions and others will not protest move SL-foreign consortia to have larger 85% stake in WCT than 49% in scrapped ECT MoU By … [Read more...] about Cabinet green light for WCT India-SL-Japan JV
Import policy sparks local investment bounty
Industries Ministry Secretary Anusha Pelpita Industries Ministry evaluating 140 proposals worth an estimated Rs. 48 b Much focus by local biz on import substitution and exports New ventures to require 395 acres of land and create over 11,600 jobs Ministry to roll out new zone, expand existing to accommodate proposals Secy. says working to encourage investment … [Read more...] about Import policy sparks local investment bounty
Higher compensation for worker termination is now law
New Gazette stipulates Rs. 2.5 m as maximum compensation up from Rs. 1.25 m previously; new legislation effective from 19 February Labour Minister says change made after 15 years focused on worker welfare The Labour Ministry in its latest Gazette has doubled the upper limit of compensation under the Termination of Employment of Workman Act (TEWA) from Rs. 1.25 million … [Read more...] about Higher compensation for worker termination is now law
New taxes to be legislated by April: Treasury Secy.
Treasury Secretary S.R. Attygalle gestures during the media briefing at the Fin. Ministry yesterday. CB Governor Prof. W.D. Lakshman and State Minister of Money, Capital Markets and Public Enterprises Reform Nivard Cabraal look on – Pic by Lasantha Kumara Fin. Ministry working to implement tax changes announced in December 2019 and 2021 Budget Attygalle says goal is to … [Read more...] about New taxes to be legislated by April: Treasury Secy.
Trade best catalyst for peace in South Asia: Khan
Pakistan Prime Minister Imran Khan addressing the business and investment forum yesterdayPakistan PM says stronger trade relations can provide solutions to political and security tensions Invites SL private sector to link with CPEC, insists Pakistan will welcome investors Backs wealth creation as best antidote to inequality Wants Pakistan to learn from SL ‘advanced’ … [Read more...] about Trade best catalyst for peace in South Asia: Khan
