IMFsays Sri Lanka’s SOE restructuring possible without privatization
Sri Lanka can restructure its state-owned enterprises (SOEs) without privatizing, but they should not be a burden to the island nation’s tax payers or government debts, a top International Monetary Fund official said.Restructuring Sri Lanka’s loss-making SOEs is crucial for stabilizing the country’s economy, reducing fiscal deficits, and ensuring long-term financial sustainability.
Continue Reading
Cabinet approves development of 24 oil tanks at Trincomalee upper tank farm
The Cabinet of Ministers has granted approval for the development of 24 oil tanks at the Trincomalee upper tank farm.
Continue Reading
Extremist group identified in Eastern Province: Cabinet Spokesperson
Cabinet Spokesperson, Minister Dr. Nalinda Jayatissa revealed that intelligence have been received about an extremist organization operating in the Kalmunai area of the Eastern Province.
Continue Reading
Sri Lanka to set up tax fraud investigation unit
Sri Lanka is setting up a tax crimes unit within the Department of Inland Revenue as part of efforts to reduce corruption, according to International Monetary Fund program documents.
Continue Reading
Sri Lanka studying 300MW to 400MW nuclear power plant
Sri Lanka is studying the building of a 300 to 400 Mega Watt nuclear power plant, Energy Minister Kumara Jayakody told parliament.
Continue Reading
Sri Lanka tourist arrivals up 9.5-pct in February 2025 led by India, Russia
Sri Lanka’s tourist arrivals grew 9.5 percent from a year ago to 240,217 in February 2025, with India and Russia top source markets, data from the state tourism development office showed.
Continue Reading
Government to resume maize imports
The government may have to resume maize imports in the near future despite the current suspension, Minister of Livestock, Land, and Irrigation K.D. Lalkantha stated during a recent parliamentary committee meeting.
Continue Reading
EPF suffers nearly Rs. 20 billion in direct losses from investments
The Employees’ Provident Fund (EPF) has suffered close to Rs. 20 billion in losses from bond and equity market investments, with an additional Rs. 12 billion in foregone earnings, as a result of bypassing due process and investing in unlisted equity, according to a new report by Verité Research. The report has calculated these losses and foregone earnings by analysing …
Continue Reading
Incredible India’ conceiver says SL must never be sold for less than $ 700 a night
Sri Lanka has all the elements to be a high-end global tourism destination and has a tourism potential that is significantly greater than Kerala, but is currently selling itself too cheaply, said India’s G20 Sherpa Amitabh Kant, last week in Colombo.
Continue Reading
Ceylon Chamber commends Govt. on Third IMF Review success
The Ceylon Chamber of Commerce yesterday congratulated the Government on successfully completing the Third Review under the International Monetary Fund (IMF) Extended Fund Facility (EFF) arrangement.
Continue Reading
