People’s Bank has joined the ‘Swashakthi’ Loan scheme initiated by the Ministry of National Policies and Economic Affairs and the Central Bank of Sri Lanka, disbursing loans via its branch network of more than 730 branches island-wide.
Ministry of Industry and Commerce has initiated a program to support local small scale industries, whose annual turnover is less than Rs. 250 million and permanent employment is less than 50 on the 1st January 2017, to obtain Good Manufacturing Practice (GMP) certificate with the intention of improving industry productivity, sustainability, food safety and hygiene.
Ministry of Finance denying the news reports of not settling the bills produced by Provincial Councils and Line Ministries in the last quarter of 2016 said that Rs.10 billion was issued by the Treasury in the first quarter of this year to settle same.
The Index of Industrial Production (IIP) is an important indicator of economic performance and its main purpose is to provide a measure of the short-term changes in the volume of industrial production over a given period of time. It can be used to identify the turning points in economic development at an early stage. Monthly IIP will be released quarterly with a time lag of 63 days. The base year for the IIP compiled by DCS is 2015. IIP value of difference base years cannot be compared.