Colombo Port City, a shiny metropolis rising out of the water along the Sri Lankan capital's seafront at Galle face with the huge expanse of sand reclaimed from the sea is being transformed into a high-tech city as an alternate to Singapore, Dubai, Monaco or Hong Kong
Sri Lanka's precious mineral exploration has become highly irregular activity from the issuance of licences for mining and till the end of exploration owing to corrupt and wasteful administrative practices of Geological Survey and Mines Bureau (GSMB).
The Government is to set up a holding company with 100 percent equity ownership vested with the Treasury Secretary and to make necessary arrangements to bring identified SOEs under this entity for restructuring.
Even amidst economic crisis, cash strapped Sri Lanka is striving to develop Colombo as a destination for aviation by completing the construction work of the Terminal 2 of Bandaranaike International Airport (BIA) this year.
Despite tightening of monetary policy and curtailing money printing, the Central Bank is to raise Rs 98 billion in the New Year through an auction on January 04 2023.