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VAt a time of unprecedented economic stress, the Government is losing billions of rupees in revenue with the increase in tax evasion, the Parliamentary Committee on Public Accounts (COPA) has found.

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Around 270,000 metric tons of vegetables and fruits are wasted annually, causing a loss to the Sri Lankan economy of approximately Rs. 20 billion,

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The People’s Bank is currently in negotiation with the China-led Asian Infrastructure and Investment Bank (AIIB) for a US$75 million-US$100 million loan to be lent to COVID-19-hit local SMEs, the bank said this week.

Sunday, 11 April 2021 09:59

Sri Lankan Business confidence rebounds

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Sri Lankan Business confidence is now being gradually restored after the resorting hybrid model of working from home (WFH) and office, a recent research revealed.

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The Sri Lankan economy has contracted at 3.6 per cent in 2020 lower than initial projections, the Department of Census and Statistics (DCS) announced.

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Sri Lanka explores the possibility of gaining some funding from the Middle East following discussions with relevant authorities in a latest mission to the Gulf region, Central Bank Governor Professor W D Lakshman divulged.

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Sri Lanka has dropped plans for a fresh bailout facility from the International Monetary Fund (IMF) but the discussions are underway with the donor agency on technical assistance on public financial management

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Sri Lanka Small and Medium Scale Enterprises (SME) will be getting seed capital from an equity fund which was set up recently.

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Special Deposit Accounts (SDA) introduced by the Government last year have swelled  $ 360.3 million, which has ptompted the Cabinet to approve extending their validity period further, Cabinet Spokesman Minister Keheliya Rambukwella said.

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The Urban Development Authority (UDA) is issuing debentures worth Rs.25 billion to raise funds through state banks to finance a large- scale middle income housing scheme, a senior official said

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