… USD 5 mn paid to Iran a month By Shamindra Ferdinando Power and Energy Minister Kanchana Wijesekera has confirmed that consumers of petrol and diesel have been made to pay Rs. 50 to Rs. 55 per litre since the middle of last year to settle what the Ceylon Petroleum Corporation (CPC) owed its creditors. […]

… admits CEB-owned hydropower plant benefited from Samanalawewa leak By Shamindra Ferdinando Power and Energy Minister Kanchana Wijesekera has disclosed that cash-strapped Ceylon Electricity Board (CEB) arranged for bank loans to its employees at government’s expense. The SLPPer said that of the 15%-16% interest, the CEB paid 2/3 whereas the workers paid the balance. Minister […]

ECONOMYNEXT –Central Bank Governor Nandalal Weerasinghe urged the public to become informants to broaden the tax net and thus reduce both overall direct and indirect taxes. The government has raised Value Added Tax (VAT), an indirect tax to 18 percent from 15 percent with effect from January 1. The move also will see some VAT […]