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| Sunday, 11 July 2004 |
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Hambantota harbour feasibility initiated The Sri Lanka Ports Authority (SLPA) will open a feasibility study on the proposed Hambantota port soon. Although there were reports about previous feasibility studies and construction plans during the previous government, SLPA sources said that no feasibility study has been done before. Fruits and vegetable exports to be increased The Sri Lanka Fruits and Vegetable Producers, Processors and Exporters Association seeks government support to increase fruit and vegetable exports. The association believes it can double the export revenue earnings to more than Rs.6000 million in the coming year with government assistance. The association says that there is a high demand for quality Sri Lankan fruits and vegetables from the Gulf region, Europe and the Maldives. Our exporters have established the market by working hard and competing with India, South Africa and Australia which are highly subsidised by their respective governments, the Association says. Sri Lankan exporters face the burden of highest airfares in the region and there are no subsidies. The Association believes that the new governments decision to give high priority to agriculture would help to develop the sector. It says that with the help of EDB, the National Agri Business Council, Sri Lanka Export Credit Insurance Corporation and line ministries it can do much more than what is being done now. Thulhiriya Textile Mill resurrection The Govenment is planning to re-open the Thulhiriya Textile Mill immediately. The concept proposal prepaired by the finance ministry has been handed over to the President and the Minister of Industries by Deputy Finance Minister Ranjith Siyambalapitiya. Thulhiriya Textile Mills Ltd. the cornerstone of the national textile manufacturing sector was the largest spinning, weaving and processing plant in the country. The mill was fully privatised in 1990 for a realised value of Rs 200 million. Thereafter it was owned and operated by the Kabool Lanka Private Ltd, a Korean company. The company was closed down on September 9, 2003 leaving 3200 of its workers unemployed. Dollar passes Rs.103 Despite the Central Bank's optimisam about the stability of exchange rates, Rupee depreciation continued and the Dollar passed Rs.103 on Thursday (8). On Friday the buying rate and selling rate of an US Dollar was 102.28 and 103.18 respectively. SLI to be listed Sri Lanka Insurance (SLI) is likely to be listed in the Colombo Stock Exchange (CSE) in the future, market sources said. At present majority of SLI stakes are owned by Ceylon Distilleries Ltd (CDL). The value of CDL shares are likely to go up in price once SLI is listed in the CSE, analysts said. At present, CDL is trading at around Rs 27 for a share. |
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