Economy Archives - Page 108 of 123 -

Rs. 3.2 Billion Sought for Debt Restructuring Consultants

By The Morning Telegraph December 5, 2024

The government has presented a supplementary estimate to Parliament, requesting Rs. 3.213 billion to reimburse the Central...

Tax Revenue Shortfall Creates Financial Crisis for Govt Salary Increases and Tax Relief

By The Morning Telegraph December 4, 2024

Internal sources from the Ministry of Finance have revealed that the Inland Revenue Department (IRD) is struggling...

Rice Imports Delayed: Funds Tied Up for Shipments from India

By The Morning Telegraph December 4, 2024

The Essential Food Importers Association has revealed that orders for four shipments of rice, each ranging between...

Toyota Lanka: Vehicle Prices to Change with New Tax Policies

By The Morning Telegraph December 4, 2024

Toyota Lanka has announced its expected prices for imported vehicles, anticipating the potential lifting of vehicle import...

The Next Two Weeks are Crucial. A Severe Rice Shortage is Imminent

By The Morning Telegraph December 4, 2024

The All Ceylon Small and Medium Scale Mill Owners Association has issued a stark warning of a...

Trump Warns BRICS Nations: Commit to U.S. Dollar or Face 100% Tariffs

By The Morning Telegraph December 2, 2024

Washington, D.C. – President-elect Donald Trump has issued a stark warning to the BRICS countries, a bloc...

**New Government Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth** Duminda Hulangamuwa, Senior Economic Advisor to Sri Lankan President Anura Kumara Dissanayake, emphasized that the new government is prioritizing a liberal market strategy, encouraging the private sector to lead the country's economic development. Speaking on *Ada Derana’s* *@HydePark* program, Hulangamuwa highlighted that while the government supports privatization in certain areas, it will maintain control over strategic sectors essential to public interest. ### Careful Evaluation of State-Owned Enterprises (SOEs) Addressing concerns about the restructuring of state-owned enterprises (SOEs), Hulangamuwa clarified that the government is taking a measured approach. Rather than rushing into decisions, authorities are carefully analyzing which SOEs are financially burdensome and which can continue to operate without draining the national treasury. “Restructuring does not mean selling off assets recklessly,” Hulangamuwa said, underscoring the importance of formulating a well-structured policy before making significant changes. He also noted that some SOEs are currently operating without being a financial burden, indicating that privatization may not be necessary for all state entities. ### SriLankan Airlines Under Review One of the key SOEs under consideration is SriLankan Airlines, which has long been a financial strain on the government. Hulangamuwa revealed that discussions are underway to restructure the airline’s balance sheets. He stressed the importance of maintaining a national airline but reiterated that the country's broader economic interests must take precedence. “Sri Lanka must have an airline,” he said, “but the country comes first.” This suggests that while SriLankan Airlines will likely undergo significant financial restructuring, its strategic importance to the nation will be preserved. ### Balancing Liberalization with Public Interest The government's liberal market strategy aims to create a favorable environment for private investment while ensuring that key sectors remain under public control. This approach reflects a broader effort to balance economic liberalization with safeguarding national interests, particularly in areas critical to public welfare and national security. Hulangamuwa concluded by emphasizing that the government needs time to implement its policies effectively. The focus will remain on encouraging private sector growth while carefully navigating the complexities of SOE restructuring to ensure long-term economic stability.

New Govt Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth

By The Morning Telegraph December 1, 2024

Duminda Hulangamuwa, Senior Economic Advisor to Sri Lankan President Anura Kumara Dissanayake, emphasized that the new government...

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

By The Morning Telegraph December 1, 2024

Sri Lanka has decided to defer the implementation of a controversial imputed rental tax on owner-occupied houses,...

A Port City with Modern Infrastructure for Galle Galle to Develop a Port City with Modern Infrastructure

A Port City with Modern Infrastructure for Galle

By The Morning Telegraph December 1, 2024

A 45-hectare area along Galle Bay is set to undergo a major redevelopment, transforming the region with...

CBSL to Raise Rs. 192 Billion in Treasury Bill Auction on December 4

By The Morning Telegraph November 30, 2024

The Central Bank of Sri Lanka (CBSL) is set to raise Rs. 192 billion through an auction...

Economy

Rs. 3.2 Billion Sought for Debt Restructuring Consultants

Tax Revenue Shortfall Creates Financial Crisis for Govt Salary Increases and Tax Relief

Rice Imports Delayed: Funds Tied Up for Shipments from India

Toyota Lanka: Vehicle Prices to Change with New Tax Policies

The Next Two Weeks are Crucial. A Severe Rice Shortage is Imminent

Trump Warns BRICS Nations: Commit to U.S. Dollar or Face 100% Tariffs

New Govt Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

A Port City with Modern Infrastructure for Galle

CBSL to Raise Rs. 192 Billion in Treasury Bill Auction on December 4

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