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Poor quality roads and associated high transport costs reduce the competitiveness of trade and goods in distant markets and thereby reduce the potential for economic growth.

Overloading vehicles a drain on economy

Excessive loading of vehicles with the resultant deterioration of road surface in almost every developing country is the primary reason for higher cost of transport. Since airline costs and shipping services are becoming increasingly more competitive, roads have to compete to ensure that local economies do not to lose long haulages by air or ship, said Prof. Amal S. Kumarage.

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Lanka among Big Four to export 80% of world tea in 2005

The Big Four tea exporters, Kenya, Sri Lanka, China and India accounted for 80 percent of world exports during 2005. Sri Lanka conceded its top slot as the leading exporter of tea to Kenya, for the second year in 2005, having held the top spot from year 2000.

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Fresh hope for Pramuka Bank depositors

The Bill to establish the Nava Lanka Ithurukirime Bankuwa or New Lanka Savings Bank will be presented to parliament on July 7. The funds lying to the credit of the now defunct Pramuka Bank will be transferred to this bank and its Chairman will be Prof Jagath Wickremasinghe.

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