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Last updateMon, 23 Oct 2017 8am

Business News

It is stressed that the budget proposals are targeted on improving the country's production and enhance economy.

Minister S.B Dissanayake says the budget proposals are targeted on improving the country's production and enhance economy.

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IMF releases another $162m to SL

The Executive Board of the International Monetary Fund has completed the first review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility arrangement.

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Stern action will be taken against the pharmacies that do not comply with the reduced drug prices.

Minister Dr.Rajtiha Senarathne says  measures will be taken to seal the pharmacies that do not comply with the reduce prices. He added that prices of 48 drug varieties have been slashed. The minister noted that  prices of more drugs will be reduced in the future.

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India and Sri Lanka have agreed to set up a joint working group on Fishing activities.

India and Sri Lanka have agreed to set up a joint working group on fishing activities. Accordingly, a hot line between the coast guards of both countries have been set up to address the long standing issue of the illegal fishing in the respective sea areas.

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The government says no permission to increase the price of milk powder.

Minister Ravi Karunanayake says the government has not given permission to increase the price of  milk powder. Even though the imported milk powder is coming under VAT, there is a   price control for milk powder.

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Turkish government supports for the upliftment of the fishing sector in Sri Lanka.

Turkish government has extended its support to develop Sri Lanka's fishing industry. Turkey ambassador in Sri Lanka Tanka made this pledge when he met state minister of fisheries Dilip Wedaarachchi today at the ministry office.

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Loans at lower interest rates will be given to purchase solar power panels.

Lanka Electricity Private Company has introduced a special low interest loan scheme for the consumers who come forward to purchase solar power panels. National Savings Bank will provide the financial assistance. Accordingly, a half of the cost can be obtained as a loan at 8 percent interest rates. A maximum one million rupees will be given to the relevant consumers.

Chairman of the Lanka Electricity Private company Lal Gunasekera says the loan scheme will be implemented from next month.


Meanwhile, a mobile service for the electricity consumers in the Ampara district will be held at the Ampara technical college tomorrow. Minister Ranjith Siyambalapitiya and top officials of the electricity board and the ministry of power and energy will take part in this service.

Drug Traders support new drug prices.

The All Island Private Pharmacy Owners Association and Sri Lanka Drug Traders' Association have extended their fullest support to reducing prices of 48 drug varieties. They expressed their views at a meeting which was held under the patronage of Chairman of the National Drug Regulatory Authority Prof.Asitha de Silva and Chief Executive Officer Dr.Kamal Jayasinghe following the issuance of gazette notification regarding the reducing drug prices.

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The gazette notification pertaining to controlling drug prices will be issued at Friday midnight.

Minister Dr. Rajitha Senarathne says the gazette notification pertaining to controlling drug prices will be issued at Friday midnight. He added that prices of 48 varieties will be slashed under the new policy. The minister was speaking at a media briefing held in Colombo today

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CBSL says performance of the External Sector has developed

The Central Bank says the external sector performance improved in July this year with a reduction of the trade deficit, increased tourist earnings and higher inflows to the financial account. The inflows to the financial account strengthened with the proceeds of 1500 million dollars from the issuance of the 10th International Sovereign Bond, 300 million dollars from the Syndicated Loan facility and net inflows recorded in the government securities market and the Colombo Stock Exchange easing the pressure on the balance of payments.

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