Fuel ethanol will save Rs. 20 billion annually - NCED
World crude oil prices have increased from US $
40 to US $ 72 per barrel. The increasing trend will continue and
have an adverse effect on the economy of third world countries. As a
result, Sri Lanka's fuel bill for 2006 will be around Rs. 150
billion or more, a member of the plantation cluster of the National
Council for Economic Development Dr. C.S. Weeraratne said.
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IRD targets 500,000 taxpayers by 2008
Tax experts have warned that the new system
introduced by the Inland Revenue Department giving all
responsibilities of income tax, VAT, tax assessment and tax
collection to one officer would breed corruption and malpractices in
the system.
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Coconut glut to peak in mid-June
The increasing glut of coconuts entering the
market is expected to peak in mid-June and plummet the farmgate
price below the critical COP of Rs. 8.50 per nut. Intermediate
market forces are exploiting this rain-fuelled oversupply situation
with hard-buy tactics on growers, beggaring them, while denying the
consumer the benefit of the prevailing low prices.
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