Category: Economy and Markets
Vote For Funds
The move comes after the government quote s maiden budget presentation was pushed back to late March, to accommodate the local government elections, Cabinet spokesman Prof. G L Peiris said today. rnrnLast October, President Chandrika Kumaratunga used her constitutional powers to approve state funds for a three-month period up to March 31, 2002. rnrnldblquote There […]
Make My Day
As expected by political analysts, Weerawansa confirmed his party would take a hardline stand against the privatisation programme. rnrnldblquote It quote s going to be a horror budget. That quote s why government is trying to postpone the budget till local government elections are over dblquote , he told Lanka Business Online in an interview. […]
Fresh Notes
Though the euro was introduced two years ago, real notes and coins were only issued on January 1, 2002.rn rnThe old national currencies cease to be legal tender from July 1, 2002.
Shifting Gear
Public Enterprise Reforms Commission (PERC) is expecting cabinet approval this week to expedite its privatisation program, chairman Dr. P.B. Jayasundara told LBO. “We are developing the privatisation strategies for different sectors and have been assured of top level commitment. PERC is holding extensive discussions with authorities concerned, since many proposed privatisations are not mere overnight […]
Clearance Sale
Government is planning to restructure its loss making food retailer endash Cooperative Wholesale Establish endash to return it to profitability in the next two years, for an eventual public listing. CWE has accumulated Rs. 8.2 bn in losses during the past few years, arising from politically motivated pricing policies and low management efficiency. Consumer Affairs […]
New Year Resolutions
The government is currently developing an economic policy metrics and plans to present it to donor agencies, to start the Rs. 500 bn Poverty Reduction Growth Facility Programme (PRGF) by June this year, Economic Reforms, Science & Technology Minister Milinda Moragoda said.rnrnPRGF is a reform oriented country assistance program, which is jointly funded by both […]
Monopoly Money
Over 6 billion notes and nearly 40 billion coins have been distributed to banks, retail shops, and cash machines, which begin dispensing the new currency at 1100GMT.Early indications are that the huge logistical task of distributing the new currency has gone relatively smoothly, with little evidence of either counterfeiting or price rises. The Euro is […]