With the new tax structure raising many eyebrows amongst a section of the country’s taxpayers, the Governor of the Central Bank of Sri Lanka last week said it is interesting to learn that Sri Lankans want Scandinavian-type social welfare while paying Hong Kong rates of tax.
The ‘Enterprise Sri Lanka’ program will be successful and bring economic benefits to the country only if the import of products that puts a spoke on the initiatives of our entrepreneurs is stopped, President Maithripala Sirsena told guests at the launch of the ‘Enterprise Sri Lanka Loan Scheme’ at the BMICH on Friday.
Issuing National Consumer Price Index (NCPI), for the month of May 2018, D.G.S.G. Munasinghe, Actg. Director General of Census and Statistics said that the Year on Year inflation based on NCPI has been compiled as 2.1%. The inflation reported for the month of April 2018 was 1.6%. Inflation reported three consecutive months of decline below the 3.0% starting from March 2018. Contributions to the inflation in May 2018 from food group and non-food group are -0.02% and 2.05% respectively, whilst contributions of these two groups to the inflation in May 2017 were 4.6% and 2.5% respectively, resulting headline inflation of 7.1%.
The Ministry of Megapolis and Western Development has commissioned a feasibility study and concept design, which will be funded by the French Government through a grant to the Government . A team of local and foreign consultants in transportation operation, engineering and architecture companies – are working with the Ministry of Mega polis and the French Development agency (AFD – the French Government’s development finance institution) to ensure the success of this key project. “Colombo has long been admired as one of the most beautiful cities in South Asia, but today it needs an ambitious and audacious vision to renew itself – one built on the unique identity that our diverse city has developed over the centuries,” explained Minister Ranawaka.
Prices of several expensive drugs will be reduced from next month (July), Health Minister Dr. Rajitha Senaratne said. He had stated that the prices of some expensive drugs will be reduced in the second phase of reducing prices of drugs and private hospital charges. The prices of 48 essential drugs were reduced in the first phase offering relief for the people who use drugs regularly for various diseases such as diabetes.
The Manufacturing Sector PMI recovered in May following the seasonal contraction observed in the previous month and recorded an index value of 60.6 in May with an increase of 15.1 index points from April.
National Police Commission is taking steps to control ever increasing traffic in major cities using Google Data. Prof. Amal Kumarage from the Moratuwa University presented to the National Police Commission (NPC) and the Inspector General of Police (IGP) as to how persisting traffic issues could be resolved using Google data.
Cabinet of Ministers approved the proposal of Hon. Mangala Samaraweera, Minister of Finance and Mass Media, to obtain cabinet approval for the Gazette Notification Published under the Ports and Airports Development Levy Act No 18 of 2011 for 75% concession of Ports & Airports Development levy.
The first flag of the flags week announced to celebrate the National Housing Day which falls on 23rd of June was pinned on President Maithripala Sirisena at the President’s office Yesterday(19th). The flag was pinned on the President by Minister for Housing and Construction Sajith Premadasa.
Cabinet has decided to remove the 15% Value Added Tax (VAT) on doctors’ consultation fee, channeling fee and professional charges with effect from July 1, Finance Minister Mangala Samaraweera said. He stated that the request was made by the Minister of Health, Nutrition and Indigenous Medicine Dr. Rajitha Senaratne on the instruction of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.