Radi

Sri Lanka’s arduous road ahead for external debt restructuring saw some progress last week with the International Monetary Fund (IMF), requesting China to play its part and the biggest bilateral lender indicating willingness.

Main Opposition MP Dr. Harsha de Silva is calling on the Government to further revise the Inland Revenue bill on behalf of all professionals and to resolve the intensified brain-drain of late.

Sri Lanka’s Foreign Direct Investment (FDI ) has been falling down under the present economic set back, policy uncertainty and political instability along with the removal of tax concessions including tax holidays, ministerial consultative committee report revealed.

Dollar strapped Sri Lanka is now trying persuade India Japan, Singapore or some other donor agency to obtain a bridge finance loan amounting to US$ 850 million to survive until the receiving of executive board approval for $2.9 billion IMF bailout before beginning to rebuild usable foreign reserves next year, finance ministry sources disclosed.

India and Sri Lanka have taken giant step towards the restoration of a significant connectivity with the resumption of direct flights between Chennai and Jaffna on Monday 12 offering many concession.