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Obstacles on production of Toddy, Kithul, Palm & Coconut related products, to be scrapped

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Mahindananda Aluthgamage, Committee Chair of the Sectoral Oversight Committee on National Economic and Physical Plans instructed the relevant officials to take immediate steps to remove the obstacles in the local production and export of Toddy, Kithul, Palm and Coconut related products

The Ministry of Agriculture and Plantation Industries also pointed out during the previous Committee meeting held that there have been issues in the local production, distribution and export of Toddy, Kithul, Palm and Coconut related products and that the government is capable of generating significant income by solving the existing concerns.

Accordingly, relevant government institutions including the Excise Department and the Customs Department were called before the Committee to discuss and resolve the issues in this regard. After discussing with these departments, it was agreed to remove the obstacles in this regard.

This was taken up for discussion when the Sectoral Oversight Committee on National Economic and Physical Plans met in the Parliament recently (June 04) under the Chairmanship of Mahindananda Aluthgamage, Member of Parliament.

It was also agreed to remove the barriers to the wholesale distribution of toddy palm produced in the Northern Province locally and abroad. Moreover, the Committee instructed the exporters to prepare a necessary system to easily and systematically export Toddy, Kithul, Palm and Coconut related products.

The Committee pointed out that there is a large market abroad for Toddy, Kithul, Palm and Coconut related products. As a result, the Committee pointed out that the government will be able to generate a significant revenue in the future through the removal of these obstacles. Furthermore, the relevant officials were instructed to submit a proposal to the Committee that includes all the proposals regarding toddy, kithul, palm and coconut related products.

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IMF Executive Board approves Sri Lanka’s fourth review

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The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.

This brings the total IMF financial support disbursed so far to about US$1.74 billion.

“The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.”

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Cabinet approval for online traffic fine payment system – Bimal

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Minister of Transport and Highways Bimal Rathnayake has said that Cabinet approval has been granted to implement an islandwide online traffic fine payment system.

He made this statement during a media briefing near the Kottawa Expressway entrance, following a public awareness programme on mandatory seat belt use for vehicles travelling on expressways.

“The Cabinet approved the proposal today. At present, the online fine payment system is available only between Kurunegala and Anuradhapura. Now, we’re providing all police units with mobile devices, so that from this year, traffic fines can be paid from anywhere via mobile phones… Rather than paying fines, we urge everyone to drive carefully, wear seat belts, and avoid violations. Our core message is simple, travel safely,” the minister has said.

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Indian entrepreneur delegation meets President AKD (Pics)

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Indian entrepreneurs state that they are currently directing their attention towards new investment prospects in Sri Lanka, particularly in sectors like energy, infrastructure, the digital economy, tourism and agriculture, as well as on enhancing entrepreneurial capacity.  

A delegation of around 20 Indian entrepreneurs, comprising heads of several prominent Indian companies, is currently engaged in an active programme in Sri Lanka, coordinated by the Confederation of Indian Industry (CII), with the aim of further developing existing investment opportunities and exploring new prospects. These comments were expressed during the delegation’s meeting with President Anura Kumara Disanayake this afternoon (01) at the Presidential Secretariat.

The delegation is visiting Sri Lanka following an invitation extended by President Anura Kumara Disanayake during his recent official visit to India. The Indian delegation held discussions with several Sri Lankan Ministers and with officials from key government institutions, including the Board of Investment of Sri Lanka.

President Disanayake emphasized that the country has now established a more favourable environment for investors, owing to the current economic stability.

The President briefed the Indian business representatives on the constructive measures implemented by the government to create a supportive economic climate and conditions conducive to investment. He further noted that the government has strengthened the legal framework and institutional system necessary to attract and sustain large-scale investments. He assured that under the present administration efforts have been made to eliminate the losses and corruption previously associated with investments. 

The President also emphasised that special attention has been given to attracting regional investors and providing them with the necessary facilities. He pointed out that numerous new business opportunities have opened up between India and Sri Lanka across various sectors.

The Indian entrepreneurs stated that Sri Lanka’s strategic location is of great appeal to investors. They appreciated the President’s explanation regarding the current situation of the country, noting that it had inspired confidence and renewed hope in them.

Minister of Labour and Deputy Minister of Economic Development Professor Anil Jayantha Fernando, Senior Additional Secretary to the President, Roshan Gamage, and Indian High Commissioner to Sri Lanka Santosh Jha, along with officials from the Indian High Commission, were present at the occasion. Also in attendance were former Chairman of CII and Chairman and Managing Director of ITC Limited, Sanjiv Puri, and heads of several other major Indian companies.

(President’s Media Division)

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