Economic growth on fast lane - Ravi K

Sri Lanka’s economic growth is on the fast lane and the stable Government expected to be formed after the General Election, will take the country to the next level of development, Finance Minister Ravi Karunanayake told the 75th anniversary celebrations of The Finance Company Ltd, the pioneer of the finance industry in Sri Lanka, last week.

With growing international confidence, the country will attract more investments and accelerate socio-economic development.

There were many setbacks to achieving a high level of economic growth due to policies and decisions taken by the previous Government.

However, with the change of rulers, the country is heading towards greater growth, he said.

The Finance was launched at a time, when economic or financial freedom was not adequately accessible to many Sri Lankans.

The company entered the landscape in 1940 and revolutionised the financial industry by bringing ‘financial freedom’ to the common masses and thus strengthening and improving their lifestyles.

“The 75th anniversary is an important occasion for everyone at The Finance, even customers,” said Managing Director of the company, Aruna Lekamge.

“Within an year of taking over the company we have reduced revenue losses by half while the financial indicators are improving steadily.

As such, we are now on the way to reach the break-even point in terms of revenue and in another year or two we hope to make a profit, with a positive impact on our balance sheets,” he said.

“We are not just profit motivated, but we also look into the needs of the public and how we can help our nation. We have a social responsibility and are responsible to stakeholders, including internal and external customers and shareholders.

The Finance is a national asset. We hope to regain the number one position in the finance industry by implementing the ‘Regaining The Finance’ program,” he said.

- SJ