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Last updateTue, 17 Dec 2019 9am

Business News

Transport authorities round up 235 private buses that did not issue tickets.

235 passenger buses in Colombo district which have not issued tickets to the commuters have been rounded up.  Mr. Jagath Perera the general manager of the western province  transport authority said that his officials conducted the rounding up operation yesterday.  


The government provides concessionary loans to electricity consumers to install solar panels.

The government has decided to provide loans with low interest rates to families to install solar power panels in their houses.  Loans from 150 thousand to 350 thousand rupees will be given by state and private  banks  in this connection.


The National Consumer Price Index rises by 8.2 percent.

Sri Lanka's country-wide price rises measured by the National Consumer Price Index rose 8.2 percent in the 12 months to 7 February 2017, accelerating from 6.5 percent in January, the statistics office said. The index rose 0.5 percent in February to 119.9 points. In January, prices rose 1.1 percent. Food prices rose 10.2 percent in the 12 months and non-foods rose 6.8 percent, the statistics office said.


Legal action for thirty motor vehicle spare part outlets in Panchikawatta.

A large amount of Chinese motor spare parts which were marked as made in Germany and Japan were seized from Panchikawatta in Maradana, yesterday. They were taken into custody during a raid conducted by Consumer Affairs Authority. The Authority has sealed the arrested items.


The Sri Lanka Ports Authority made profits of 11 billion rupees in 2016

The Sri Lanka Ports Authority made profits of 11 billion rupees in 2016 while recording a revenue of 44 billion rupees, the Ports Ministry said.
Ports Minister Arjuna Ranatunga, in a statement, said that SLPA had cut operational spending to 20.2 billion rupees, down from 22.6 billion rupees in 2015.
SLPA paid 16.7 billion rupees as capital and interest payments on loans in 2016.

Sri Lanka is to invest in Nepal


Sri Lankan and Indian investors have pledged to invest 500 million  US dollars and 317 million US dollars respectively in Nepal at Nepal Investment Summit, which concluded in the capital today. The summit has garnered nearly 13.51 billion US dollars in foreign investment commitment. The Ministry of Industry, during the two-day event, signed Letters of Intent with foreign investors for investment to this effect, which is more than half of the country’s GDP structure of 22.49 billion US dollars.

The health authorities will monitor the concessions given to eye lenses .


The prices of 38 varieties of eye lenses have been regulated and as a result the prices have been reduced in large scales, offering a huge relief to the people. The price of the entire package of eye lens has been reduced. Accordingly, it is expected that the prices of eye surgeries too will go down. The sleuths of the national drug regulatory authority will monitor the new price level.
The full price reduction list is available in a Gazette Notification and would be published through media for the benefit of the public. The prices were regulated with the participation of all stake holders.
According to Minister Dr. Rajitha Senaratne, arrangements would be made to regulate the prices of the rest of the drugs, medical devices, private hospitals, all laboratory tests in the private sector, etc for the benefit of the people. Health is not only a profit making business, it is a service. Various problems had occurred when the decades long procedure changed. It is unavoidable. But the people were benefited. Minister Dr. Senaratne pointed out that various internal and external pressures were put on him when he reduced the prices of 48 drugs and it was same when the prices of eye lenses were reduced.

1.3 million metric tons of paddy harvest is expected in the Maha season.

The Department of Agriculture announces that only 491,000 hectares of land has been ploughed during the Maha season. The authorities aim to harvest around 800,000 hectares in the season.


The government has no intention to privatize the Railway Department or making it an authority.


Minister Nimal Siripala de Silva says the government has no intention to privatize the Railway Department or making it an authority. He added that the government’s only vision to provide a high quality service to the general public. The Ministry of Transport has taken measures to increase the number of railway passengers. Currently 8 percent of the total passengers use the railway service.
Steps have been taken to import train compartments and engines. Minister Nimal Siripala de Silva was speaking at the opening of the renovation process of the Kalutara-South to Payagala railway line. The government expects to spend 762 million rupees for the project.

Sri Lanka – China free trade agreement will be signed within this year.


Sri Lankan ambassador to China Karunasena Kodithuwakku says Sri Lanka – China free trade agreement will be signed within this year. Addressing the Independence Day celebrations in Beijing he said this agreement will further strengthen the long relationship between the two states. Prime Minister Ranil Wickremasinghe is also scheduled to visit China in May.

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