People’s Bank recently unveiled an ATM at Ella Railway Station. The ATM provides the convenience of withdrawing cash 24 hours a day, 365 days a year. The ATM was installed under a drive implemented by the People’s Bank in collaboration with the Ministry of Transport, in a bid to install 100 CDM and ATM machines within railway stations premises across the island.
The report detailing the cause of the week-long fuel shortage, prepared by the Cabinet Sub-committee appointed on the request of Petroleum Resources Development Minister Arjuna Ranatunga, will be submitted to President Maithripala Sirisena on Tuesday (14th Nov.).
In celebration of the 40th anniversary of diplomatic ties between Korea and Sri Lanka, the Embassy of the Republic of Korea in Sri Lanka is organizing a variety of programs for ‘Korea Week’ from 13th to 20th November 2017.
“Despite all economic challenges, Sri Lanka witnessing some early harvests of our prudent economic management policies. As a new Government, we have been able to make a decisive turnaround in the public finance management within a relatively short-period. We introduced reforms to domestic revenue mobilization and engaged productively with international development partners to regain lost confidence in Sri Lanka. Such measures helped reverse the decades-long downward spiral of Government revenue which increased up to 14.2% of GDP in 2016 from 11.5% of GDP in 2014, marking a growth of 41% in absolute terms. In 2017, Government revenue, I am certain, will come closer to 15% of GDP, ensuring a revenue growth of 13% in 2017 over 2016. Further, we are in the process of effecting revenue reforms in all areas including Inland Revenue, Customs, Excise and others in a manner to raise the Government revenue closer to 20% of GDP over the medium-term. As revenue increases, and expenditure remains well targeted and rationalized, overall budget deficit is expected to reduce up to 3.5% of GDP by 2020”, so said Minister Mangala Samaraweera presenting his first budget speech titled ‘Enterprise Sri Lanka’ to the parliament this evening (9th Nov.).
The railway strike decided to launch at midnight today (8th Nov.) demanding the rectification of salary and anomalies has been called off by the Trade Unions after discussions with the authorities at the Prime Minister’s office.
As prices of coconuts soared due to drought fuelled supply shortage, Sri Lanka announced that it is sourcing a huge volume of coconuts not from international sellers but from domestic suppliers, to be sold to local consumer at a very low price tag.