Litro Gas Lanka’s efficient cost leadership ensures price increase covers costs

The energy industry globally operates with fluctuating prices that determine the final price of LPG across markets. Globally, the LPG prices have been shifting with the demand and currency discrepancies, causing costs to soar and markets to tumble, as one of the world’s most efficient and low-cost energy sources goes through turbulent times.

Amidst pandemic-induced volatility GSP+ to EU is critical for Sri Lanka

The recent European Union (EU) monitoring mission visit to Sri Lanka on the Generalised Scheme of Preferences (GSP) Plus trade concessions scheme, has ignited much speculation locally, on the potential costs of losing GSP+ to the EU.

‘Made in Sri Lanka’ project proposed to generate jobs by promoting MSMEs

The CMA Sri Lanka COVID-19 SME Development Committee has formulated the ‘Made in Sri Lanka’ project to obtain the government support in budget 2022.

A brief overview of the new Securities and Exchange Commission Act

The new Securities and Exchange Commission Act No. 19 of 2021 (‘the Act’) has been certified by the Speaker on 21st September 2021 and has thus become law. It repeals and replaces the Securities and Exchange Commission Act No. 36 of 1987.

How do we market Sri Lanka globally as a unique country with green socio-economic system

One consignment of potassium chloride fertiliser arrived on September 14, presumably to be applied for the paddy sector. The potassium chloride is not an organic material. However, the input materials approved for organic farming need not only be organic.

Fertiliser fiasco: Discretion is better part of valour

In his novel published in 1891, tiled ‘The Light that Failed’, Rudyard Kipling wrote the phrase ‘biting the bullet’ to express the thought that fortitude can be gained by ‘biting a bullet’! As things are, should the President and government continue ‘biting the bullet’ or compromise in sincerity as discretion is the better part of valour.

COVID-19 and Sri Lankan economy: Policy choices and trade-offs

Sri Lanka’s macro-economic outlook amidst the COVID-19 pandemic came under the spotlight at a webinar panel discussion held on October 11, to mark the release of the IPS’ flagship report ‘Sri Lanka: State of the Economy 2021’.

Eravur Fabric Park could transform sustainable textile manufacture in Sri Lanka

Since the first announcement in June 2020, expectations have been high on the potential of the Eravur Fabric Processing Park to catalyse a new era for Sri Lankan textile and apparel manufacture.

Local pharmaceutical manufacturing: Potential to be next thrust sector in Sri Lanka

Pharmaceuticals have been manufactured by the private sector in Sri Lanka for well over half a century, with pioneers such as Dumex (now Astron Limited), GSK, Gamma and J.L. Morison Son & Jones, now known as Morison Ltd. Since then, the industry has taken a winding path, facing challenges and chalking up victories.

Rising price of rice in Sri Lanka: Roots and remedies

Rice is the dietary staple and the major domestic crop cultivated in Sri Lanka since ancient times. Therefore, the production and availability of rice are closely tied to food security as well as political stability in the country.

Fertiliser unavailability, food insecurity and irrational policymaking

The answer to our current fertiliser and pesticide predicament is in a remarkable statement made five centuries ago by the father of the science of pharmacology,

Balanced plant nutrition critical for sustainable tea cultivation

Sri Lanka is a humid tropical country with two main monsoon seasons endowed with well-distributed year-round rainfall. Tea is the only major perennial commercial economic crop grown widely in all three elevations and rainfall zones and in 14 districts under varying temperature, rainfall, elevation, topography and terrain.

DIMO Plantseeds introduces Veera to further uplift dairy industry in Sri Lanka

DIMO has introduced Veera, a hybrid silage maize seed variety, to the Sri Lankan market through its subsidiary Plantseeds, with an aim to uplift the local dairy industry.

Healing the Ozone Layer: Need for National Cooling Policy for Sri Lanka

The ozone layer is located in the lower stratosphereat a height of 15 to 30 kilometres above the earth, protecting it against the sun’sharmful ultraviolet (UV-B) radiation.

Industrialist wants BOI rules relaxed to save foreign exchange outflows

Venora Group of Companies Chairman Sagara Gunawardena has called for the relaxation of Board of Investment (BOI) regulations that limit the companies operating in Export Processing Zones from selling in the local market.

Sri Lanka pavilion opens at Expo 2020 Dubai; to showcase country’s many facets

The official opening of the Sri Lanka Pavilion was inaugurated at Expo 2020 Dubai on October 1st.

Sri Lanka tourism loss due to COVID-19 more than 5% of GDP

The COVID-19 pandemic has no doubt had enormous economic impact on the tourism and hospitality industry the world over, including Sri Lanka. For close upon two years international travel has been just reduced to a trickle, with hardly any tourist arrivals. Consequently, there has not been any healthy revenue streams to the industry, with little or no occupancy over the past 20 months.

Manike Mage Hithe: Sri Lankan music industry and creative economy

First time in Sri Lanka we can see that a Sri Lankan singer performing in India and as we know the Indian music industry is one of the largest in the world, Youhani has created history in Sri Lanka. This is important as these days we do not have many celebrations as a nation.

Carefully considered tax actions will ensure viable revenues

Raising revenue is a vital function of tax to combat fiscal constraints. In addition to financing activities of the state, it is also an important element for maintenance of law and order. Ideally, taxes should minimise discrimination in favour of or against business and consumer choice and reduce costs of compliance on organisations and government.

Sri Lanka must increase its efforts to protect and promote human capital of elderly

In Sri Lanka, 12.3 percent of the population is aged 60 or older, making it the country with the highest proportion of older adults in South Asia. The Western province has the highest percentage of the country’s elderly at 31.7 percent, while the Northern province has the least at 4.8 percent.

New SEC Act: boon or bane?

A new Securities and Exchange Commission (SEC) Act was recently passed in Parliament and it was made law last week by the Speaker.

GSP+ withdrawal: How would it impact Sri Lanka’s economy?

Sri Lanka’s preferential access to the vital European Union (EU) market faces fresh challenges after the European Parliament’s special resolution adopted in June 2021.

Sri Lanka awaits recovery plan amidst currency crisis

Sri Lanka’s economy is reeling under a foreign currency crisis during pandemic economic turbulence. An old addiction to imports has finally caught up to drain foreign exchange reserves, already straining under large debt repayments in the absence of US$ 5 billion in tourism and sovereign bond inflows.

SriLankan Airlines commences trial of IATA Travel Pass on selected sectors

SriLankan Airlines is among the airlines leading the way in the South Asian region by trialling the International Air Transport Association (IATA) Travel Pass, commencing October 1, 2021, with selected sectors.

World Tourism Day – Tourism for inclusive growth

The World Tourism Day is celebrated internationally on September 27, 2021. Sri Lanka, formerly Ceylon, was under the British rule from 1815 to 1948. Sri Lanka is a mesmerising island nation, surrounded by the Indian Ocean.

The EU’s warning on WTO rules: Another perspective

I was surprised when I read in your newspaper about the call on Sri Lanka by the EU Ambassador Denis Chaibi to respect international trade rules (“EU asks SL to respect WTO rules; urges not to put country’s exports at risk”, Daily Mirror,10 September 2021).

Reform or Perish . It’s not too late

The Sri Lankan economy faces a historical crisis. The root causes are the twin deficits.

S.P. Tao: A visionary entrepreneur and discerning investor

It is with great sadness that Overseas Realty (Ceylon) PLC announced the passing of S.P. Tao, Founder, Chairman and Director of the company, on August 24, 2021.

Import cuts lead to surge in trafficking – Revenue impacted

Recent economic pressures centred around the foreign exchange crisis prompted the government to impose strict import controls. The unpopular yet obligatory measures helped ease burgeoning pressure on the rupee but inadvertently led to the serious issue of a rise in illegal trafficking.

Apparel sector prioritises worker safety while ensuring industry’s sustenance

Leaders of Sri Lanka’s apparel sector highlighted the industry’s prioritisation of employee safety through the adoption of and adherence to comprehensive health measures, while ensuring business continuity and thereby the industry’s sustenance.