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Top News In நிதி அமைச்சர் மஹிந்தா ராஜபக்ஷ Today - Breaking & Trending Today

Treasury Secretary speaks out on Budget 2021, growth drivers and debt challenge

It is comprehensively “growth” oriented.

What were the factors that resulted in the 2021 Budget?
The country has been experiencing slow and low growth since 2015, which by 2019 was only 2.3% vis-à-vis 5% in 2014. Contractors and suppliers who had supplied a good or a service to the Government had not been paid their dues, which by the end of 2019 was almost Rs. 250 billion. NPL in the banks had increased to almost 5% from the lows of 1-2 % with almost 25% of those in the NPL constituted by SMEs. The electricity sector that requires at least 200 MW to be added annually did not see a single MW added to the electricity generation capacity. ....

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Confusion over retirement age

Confusion over retirement age View(s):
The National Labour Advisory Council (NLAC), a tripartite body, is meeting next week to discuss with stakeholders a host of matters including the recent budget proposal to alter the age of retirement, a proposal that has caused a lot of confusion and anxiety and raised questions as to whether the government wants to dip into the Employees Provident Fund (EPF) for state spending.
Labour Ministry Secretary M.P.D.U.K. Mapa Pathirana said several matters would be taken up at the NLAC’s monthly meeting. “We will be discussing many issues including the budget proposal on the retirement age. We want the views of all stakeholders on this proposal,” he told the Business Times. The NLAC represents the workers (through trade unions), the employers (via the Employers Federation of Ceylon-EFC) and the government (Ministry of Labour). ....

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Daily Mirror - DOSU requests duty-free motorbikes to all field officers

The Development Officers Service Union (DOSU) yesterday requested the Government to take steps to provide them with duty-free motorcycles.
While sending a letter to Finance Minister Mahinda Rajapaksa, DOSU secretary Chandana Sooriyaarachchi said they have already launched a programme to gather information about the officers who could be included to avail this facility.
He said following the discussions held with former Economic Development Ministry Secretary P.B. Jayasundara in 2013, all field officers, including the development officers received duty-free motorcycles.
We were grateful to those officers for providing the motorcycles, but the opportunity was granted only for the development officers, he said. ....

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UPDATE 1-Fitch downgrades Sri Lanka as default fears loom

UPDATE 1-Fitch downgrades Sri Lanka as default fears loom
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Government unveils Budget loan bonanza

Latest news, analysis and opinions from the Daily FT, Sri Lanka s only national business newspaper. .. ....

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