Apparel exporters concerned over EDRS halt

By Azhar Razak

Sri Lanka Apparel Exporters Association (SLEA), the trade association representing apparel exporting firms in the island, says the government’s failure to fully implement the promised Export Development Rewards Scheme (EDRS) for the sector has hampered relations between policy-makers and apparel exporting stakeholders. The newly-appointed SLEA chairman, Rohan Abeykoon, however, says he is confident the upcoming budget will help apparel exporters mitigate some of the immediate challenges since a comprehensive five-year industry strategy has been handed over to the government.

Budget targets need to be more realistic and credible – former banker

By Azhar Razak
Macro economic targets set in Sri Lanka’s forthcoming Budget 2011 will need to be more realistic and credible while government and opposition members, citizens, civil society and other stakeholders should be able to review, understand, monitor and critique budget estimates and fiscal performance thoroughly, a top economist has suggested.

Senior economist Dr Anila Dias Bandaranaike says that although fiscal targets in the Budget 2011, which is expected to be presented in parliament on November 22, needs to be set high, they should also be pragmatic with recurrent expenditure rationalised and curtailed.

Mihin Lanka eyes more destinations with new plane

By Azhar Razak
Sri Lanka’s low cost carrier Mihin Lanka, which currently services five destinations, is planning to add three more destinations, following the lease of a new aircraft expected to come on-board in November 2010.

Govt should use mobile phones to tackle poverty: UNCTAD

By Azhar Razak
Governments and policymakers in developing countries should take full advantage of Information and Communication Technologies (ICTs) to combat poverty reduction, a recent research report has highlighted.

DEBENTURE ISSUE TO PARTLY FUND ‘PORT CITY’ PROJECT

By Azhar Razak

Following the example set out by the Urban Development Authority (UDA), Sri Lanka Ports Authority (SLPA) is likely to opt for a debenture issue to fund the much exaggerated ‘Port City’ project, which plans to change Sri Lanka’s map.

Industry expectations rise ahead of budget

Investors and stakeholders voice specific concerns

By Azhar Razak

The government’s 2011 budget, which kicked off last week with the appropriation bill (first reading) being presented in Parliament, is expected to be the first step of a three-year development plan for the country.
The budget will be vital for foreign and local investors as it might signal the government’s future policy direction being the first proper budget since the end of the war in May 2009.