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BUSINESS

Finance Ministry seeks proposals for Budget

The Ministry of Finance has called for proposals from all stakeholders including the general public to be included in the Budget – 2018, to be presented in Parliament by Minister of Finance and Mass Media Mangala Samaraweera on November 09.   The proposals can be submitted to the Ministry of Finance, …

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Sri Lanka maintains policy rates

Central Bank releasing the monetary policy review on Tuesday said it has decided to maintain current policy interest rates as the current monetary policy stance is appropriate. Accordingly, the Monetary Board has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the …

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President orders to impose 100% tax on big onion imports

President Maithripala Sirisena has instructed the Finance Ministry to impose 100 percent levy on imported big onions. The President gave this directive, paying attention to the problems faced by local big onion farmers when selling their crops. Accordingly the tax imposed on imported big onions will be increased to 100%, …

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Smaller cars, electric vehicles, likely to be cheaper

The government is likely to reduce the prohibitive taxes on small cars and offer greater incentives for electric vehicles in the first budget to be unveiled by minister Mangala Samaraweera in November.   Minister Samaraweera has already promised a “leaner, greener” budget ahead of possible local council elections that could …

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Wholesale prices of imported potatoes and big onions decline

The media secretary of the Essential Food Commodities Importers and Traders Association (EFCITA), Hemaka Fernando says, wholesale prices of big onions and potatoes have declined compared to the previous week. The price of a kilo of imported potatoes has been recorded as 85 rupees, while price of local potatoes was …

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Economy grew by 4 % in second quarter of 2017

Department of Census and Statistics, Ministry of National Policies and Economic Affairs issuing a communiqué releasing National Accounts Estimates for the second quarter of 2017 stated that the GDP growth rate for the second quarter of 2017 has been estimated at 4,0 percent. The Gross Domestic Product for Sri Lanka …

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