In a strategic move to revitalise Sri Lanka’s domestic economy, the Government said yesterday it is placing a strong emphasis on two key components: expanding supply capacity and broadening market access.

While saying that Sri Lanka faces limitations in the available land for industrial purposes, hindering the growth of the industrial sector, Minister of Industry and Health, Dr. Ramesh Pathirana stated that measures are being taken to expand industrial land allocation, with a target of dedicating 1% of the nation's total land area for industrial purposes.

If the government does not reconsider the electricity tariff increase, it will affect the bakery industry and result in a price increase of bakery products in the future, All Ceylon Bakery Owners' Association (ACBOA) Chairman N.K. Jayawardana said.

The United States has underscored that equal and equitable treatment for all creditors of Sri Lanka is essential in the debt restructuring process.

Expressions of Interest (EOIs) are due to be called for projects pertaining to the construction of a floating solar photovoltaic power plant on the Samanalawewa Reservoir, Minister of Power and Energy Kanchana Wijesekera stated.

The Japanese Government has agreed to provide a grant of JPY 200 million, under their economic and social development programme, towards the development of Sri Lanka’s fisheries industry.

The Asian Development Bank (ADB) has agreed to provide USD 100 million for a new project set to be launched by the Sri Lankan government, titled the ‘Small and Medium Enterprise Development Finance Project’.

Sri Lanka’s merchandise exports decreased by 11.88% to USD 951.5 million in September 2023 in comparison to the corresponding month last year, the Export Development Board (EDB) revealed

The Inland Revenue Department (IRD) has announced a significant financial relief initiative for senior citizens aged 60 and above with refund of Advance Income Tax (AIT) deducted on interest.