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Sunday, 20 November 2011

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A model displays a creation at the Island Craft Fashion Show which showcased the country’s best craft couture at the opening of the Sri Lanka Design Festival. Sri Lanka’s apparel position in the world market rose from 79 in 2009 to 52 this year. Pic: Kavindra Perera

Budget 2012 tomorrow :

Govt aims at containing budget deficit at 6.2 percent of GDP

The 2012 Budget will ensure stable economic growth while maintaining low inflation, Finance Ministry sources said. He said the government had succeeded in maintaining economic growth of eight percent this year and reducing inflation from 11 percent to 5.7 percent and was a major achievement.

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More trains and improved rail tracks:

Increased budgetary allocation for public transport

The Government has increased the budgetary allocation to improve the public transport sector in the upcoming budget and the transport ministry will invest more money next year to import new trains, locomotives and powersets as well as to improve the rail tracks said Minister of Transport Kumara Welgama.

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Visa on arrival soon

The ‘Visa on Arrival policy’ would be implemented from January 1, 2012. R.M.S. Sarath Kumara, Controller Visa, Emigration and Immigration Department said that visitors could either register online before visiting Sri Lanka or obtain the visa from designated entry points in Sri Lanka.

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Southern Highway – a big boost all round

The business community commended the commissioning of the Southern Expressway hailing it as a move that will boost regional economic growth with an efficient transportation system that is vital to develop businesses and attract investments. Ceylon Motor Traders Association Chairman Tilak Gunatilleke said that the construction of a highway that would connect major commercial cities and enhance regional development was a long felt need.

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Yal Devi to ply in two years

The resumption of the Yal Devi train to the North does not mean restoration of mere connectivity, it is the restoration of normalcy and economic development in the North, after three decades of terrorism, said Indian High Commissioner in Sri Lanka Ashok K Kantha.

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Expropriation Act will revive underperforming enterprises- Central Bank

The Central Bank of Sri Lanka in a press release said that the main purpose of the Revival of Underperforming Enterprises and Underutilized Assets Act is to revive thirty seven (37) identified underperforming enterprises or underutilized assets where the land belongs to the Government or a Government Agency.

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