Development and Economic News
Govt. reveals stance on allowing vehicle imports
Minister Vijitha Herath states that the import of vehicles will only be carried out under a proper procedure and in a manner that will not exhaust the foreign reserves in the country thereby causing a dollar crisis again.
Sri Lanka new administration to reassess the Adani Wind Power Project
The Attorney General informed the Supreme Court today that the new Cabinet has decided to reassess the Adani Wind Power Project in Mannar.
WFP assures continuous support to Sri Lanka
World Food Programme (WFP) representatives agreed to continue their on-going programmes in Sri Lanka through the World Food Programme, ensuring no disruptions, the President’s Media Division (PMD) said.
A memorandum of understanding is reached between the Sri Lanka branch of the International Chamber of Commerce and the Association of Chartered Certified Accountants.
The International Chamber of Commerce Sri Lanka (ICC Sri Lanka) and the Association of Chartered Certified Accountants (ACCA) have signed a memorandum of understanding (MoU) to form a strategic partnership aimed at enhancing the accountancy and finance sectors in Sri Lanka.
Taxing the Wealthy: IMF’s suggestion to boost revenues for the poor
The New Administration is taking a significant step toward reforming its tax system by focusing on taxing wealth and property, aiming to benefit lower-income groups.
Sri Lanka Explores Adoption of India's PM GatiShakti for Infrastructure Development
Sri Lanka is in discussions with New Delhi to adopt India's PM GatiShakti National Master Plan, an integrated project planning tool that has successfully cleared infrastructure projects worth over INR 15 trillion since its launch three years ago.
Wealthiest 20% enjoy half of SL’s pension benefits: IPS
A recent study conducted by the Institute of Policy Studies (IPS) highlighted a significant disparity in Sri Lanka’s Public Service Pension distribution scheme, revealing that around 50 percent of the pension benefits were enjoyed by the wealthiest 20 percent of the population.
Price Identification Mechanism for Imported Goods
The Ministry of Trade has announced plans to introduce a system that will allow consumers to identify the appropriate price ranges for imported food and commercial goods.This initiative aims to prevent unnecessary price hikes imposed by importers or intermediaries.
Special Committee for Digital Terrestrial Television Broadcasting Project
A Special Committee chaired by the Mass Media Secretary, including representatives from relevant institutions is to be appointed, to assess the requirements and technology necessary for implementing the Digital Terrestrial Television Broadcasting Project.
IRD launches ambitious tax recovery programme
Sri Lanka’s Inland Revenue Department (IRD) has launched a special initiative to recover Rs. 570 billion in outstanding taxes from certain taxpayers under the self-assessment payment system, with a deadline of November 30.