'Vehicle import duty reduction will boost growth'
The sale of vehicles of all categories has
dropped by around 40 percent this year due to the staggering import
duty, said Ceylon Motor Traders Association, Chairman, Tilak
Gunasekera. He said that vehicle sales would slump by over 50
percent by the end of this year due to the high import duty. Vehicle
registration last year fell by around 40 percent to 360,000 units.
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UN embargo fuelled CPC financial crisis
The UN embargo on Iran, fuelled the financial
crisis of the Ceylon Petroleum Corporation according to Petroleum
Minister, Anura Yapa.The Minister said that production at the
Sapugaskanda refinery which provided 20 percent of the local
petroleum demand was interrupted due to a shortage of crude oil.
Denying allegations of the Opposition,
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Scope for 'Incentive Travel'
The 11th IMEX, the largest MICE travel fair in
the world for (Meetings, Incentive Travel, Conferences, Exhibitions
and Events) concluded on Thursday with a large number of inquiries
being made with regard to developing MICE tourism in Sri Lanka, a
Sri Lanka Convention Bureau official said.
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Pakistan-Sri Lanka bilateral trade under-used
Sri Lanka and Pakistan under-use the South Asian
Free Trade Agreement and bilateral trade agreement between the two
countries, said Chairman of RCC IMPEX, Mohsin Ali. Under these trade
agreements both countries have duty free market access for 70
percent of the goods exported but only a few items are traded today,
he said.
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