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Govt to streamline Samurdhi scheme amidst allegation of irregularities
Sri Lanka government has embarked on streamlining of the Samurdhi (poverty alleviation relief) payment scheme confining only to the eligible poorest of the poor people countrywide strictly identifying the needy in the wake of World Bank concerns on irregularities in the system.
COPF suggests the taxing on non – cash benefits of President, MPS, officials
Sri Lanka aims at increasing tax revenue by 69 percent to Rs3,130 billion this year from Rs.1,852 billion in 2022 while bringing down the budget deficit to 7.9 percent in 2023 from revised 9.8 percent in 2022.
WB predicts positive 1 percent economic growth for SL in 2024
Plunged into its worst-ever economic crisis, Sri Lanka’s real GDP is expected to fall further 4.2 percent in 2023 from 9.2 percent this year and gain a positive 1 percent economic growth only in 2024.
Govt to issue licenses for 900 offshore oil blocks to foreign firms
Sri Lanka, which doesn’t pump any oil at present, hopes to accelerate oil and natural gas exploration by issuing licences for around 900 offshore blocks for foreign firms with the introduction of new regulations this year, a senior government official said.
Bangladesh grants SL 6 more months to repay US $200 mn loan
The central bank made the decision at its board meeting on Thursday, in which it also in-principal approved the monetary policy for the second half of FY23