GREG plans 32-storey complex in Bambalapitiya

Group suffers Rs.225.3m loss in FY 2013

ERI Chairman Lalith Heengama

Chairman of Environmental Resources Investment Plc (GREG) Lalith Heengama has recently said that a blue
print for the construction of 32-storey complex at Colombo City Holdings Plc (formerly known as Colombo Pharmacy Company Plc), remains under consideration with analysis continuing on the best uses for the Bambalapitiya IC Drugs premises.

Addressing shareholders at the release of the GREG Annual Report 2012/13, Heengama noted that Colombo Pharmacy Company had underwent an extensive refurbishment program and was able to achieve its objective of obtaining a higher total income from the renting of space at the Union Place.

Harry J laments liquor tax policy

Don Harold Stassen Jayawardena

Despite the many social and economic evils of the illegal alcohol industry, the country’s taxation policy has encouraged its growth, while causing the legal, regulated and responsible sector to shrink, a top industry player has charged. According to business tycoon and Chairman/Managing Director of Distilleries Company of Sri Lanka (DIST) D. H. S. Jayawardena, the sharp rise in tax on alcoholic beverages is disproportionate to the increase in income level of daily wage earners, fishermen and plantation workers, thereby compelling them to shift their demand towards illicit liquor.