The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Things we are not aware of-Sri Lanka politics.
Yesterday at 7:55 pm by Ethical Trader

» Plantations - Analysis by Saliya
Yesterday at 11:31 am by lanka

» ඇලබාමා මැතිවරණයෙන් ඩොනල්ඩ් ට්‍රම්ප්ට පරාජයක්
Wed Dec 13, 2017 5:17 pm by Ethical Trader

» දිවියෙන් සමුගැනීම සමරන්න සාදයක්!
Wed Dec 13, 2017 5:12 pm by Ethical Trader

» පැසිෆික් 'ළදරු දූපත' අඟහරු හඳුනාගැනීමට මගක්
Tue Dec 12, 2017 8:12 pm by CK

» Best combination in Sinhala music: Prem+Victor
Tue Dec 12, 2017 3:49 pm by CK

» JKH trades in a tight channal
Tue Dec 12, 2017 12:09 pm by lanka

» Sri Lanka to push ahead with shipping liberalization
Tue Dec 12, 2017 10:13 am by Ethical Trader

» Investment in listed companies.
Tue Dec 12, 2017 8:45 am by Ethical Trader

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Sun Dec 10, 2017 6:59 pm by කිත්සිරි ද සිල්වා

» Trading
Sat Dec 09, 2017 7:42 pm by The Alchemist

» In the Meantime, Within Our Shores !
Sat Dec 09, 2017 5:39 pm by Ethical Trader

» ඩොලර් මිලියන 251.4 ක IMF තෙවන ණය වාරිකය අනුමතයි
Fri Dec 08, 2017 5:13 pm by Ethical Trader

» IMF approves US$ 251.4 mn to Lanka
Fri Dec 08, 2017 5:11 pm by Ethical Trader

» Strong uptick in exports, FDI
Fri Dec 08, 2017 12:09 pm by Ethical Trader

» Sri Lanka needs more taxes to cover SOE losses,
Fri Dec 08, 2017 12:04 pm by Ethical Trader

» ජෙරුසලමේ තත්ත්වය : ට්‍රම්ප් පියවරට එරෙහිව පලස්තීනුවෝ වීථි බසිති
Fri Dec 08, 2017 11:56 am by Ethical Trader

» Far reaching new Securities Exchange Bill gazetted
Thu Dec 07, 2017 5:39 pm by Ethical Trader

» Is he an Aladdin with a magic lamp
Thu Dec 07, 2017 5:37 pm by Ethical Trader

» CMEC to build 400 MW natural gas power plant in Sri Lanka
Thu Dec 07, 2017 5:35 pm by Ethical Trader

» Cabinet approves signing of share ownership agreement on Hambantota Port
Thu Dec 07, 2017 5:35 pm by Ethical Trader

» ශ‍්‍රී ලංකාව ලෝකයේ දූෂිතම රටවල් හතර තුලට වැටේ..
Thu Dec 07, 2017 5:31 pm by Ethical Trader

» හම්බන්තොට වරාය චීනයට බාර දීම 09 වෙනිදා
Thu Dec 07, 2017 12:50 pm by Ethical Trader

» Dividend Announcement
Tue Dec 05, 2017 5:06 pm by Ethical Trader

» පළාත් පාලන ඡන්දයේ ඇස්තමේන්තු ගත වියදම බිලියන 3 ඉක්මවයි
Tue Dec 05, 2017 2:31 pm by guruji

» ඉන්දියා යාමට ගිය ක්‍රීඩකයන් ගුවන්තොටේදී යළි කැඳවේ
Tue Dec 05, 2017 2:21 pm by Ethical Trader

» උතුරු කොරියානු මිසයිලය : ගුවනේදී "කැතේ පැසිෆික් කාර්ය මණ්ඩලය දුටුවා""
Tue Dec 05, 2017 2:17 pm by Ethical Trader

» මෙක්සිකෝවේ "කොලපැහැ රත්‍රන්" රකින "අලිගැටපේර පොලිසිය"
Tue Dec 05, 2017 2:06 pm by Ethical Trader

» ජෙට්වින්ග් කොටස් වෙළෙඳපොළ සම්ප්‍රාප්තියට දින නියම වෙයි
Mon Dec 04, 2017 1:14 pm by nihal123

» Flying is the Safest mode of Transport
Sun Dec 03, 2017 9:08 am by කිත්සිරි ද සිල්වා

» කෙලවලු පැටවුන් අල්ලන්න එපා: ධීවරයන්ට අවවාදයක්
Fri Dec 01, 2017 7:40 pm by කිත්සිරි ද සිල්වා

» එජාප මන්ත්‍රීවරුන්ට ජනාධිපති විවේචනය කිරීම තහනම්
Fri Dec 01, 2017 11:58 am by Ethical Trader

» හිමගිර පාමුළ විමුක්තිය සොයන බෞද්ධ භික්ෂුණින් වහන්සේ
Fri Dec 01, 2017 11:47 am by Ethical Trader

» දකුණු කොරියාව: ජනපති මෛත්‍රීට අනපේක්ෂිත අමුත්තෙක් මුණගැසෙයි
Fri Dec 01, 2017 11:36 am by Ethical Trader

» Laughter the Best Medicine
Thu Nov 30, 2017 6:08 pm by කිත්සිරි ද සිල්වා

» ඒකාබද්ධ විපක්ෂය සමග සාකච්ඡා අසාර්ථකයි: ශ්‍රීලනිපයට "ජයග්‍රහණය විශ්වාසයි"
Thu Nov 30, 2017 4:12 pm by Ethical Trader

» සීමා නීර්ණ ගැසට් පත්‍රය අවලංගු කළ පෙත්සම ඉවතට
Thu Nov 30, 2017 4:08 pm by Ethical Trader

» අයහපත් කාලගුණය: මරණ සංඛ්‍යාව ඉහළට
Thu Nov 30, 2017 3:57 pm by Ethical Trader

» "උතුරු කොරියාව නව බැලිස්ටික් මිසයිලයක් විදලා" - දකුණු කොරියාව
Wed Nov 29, 2017 1:01 pm by Ethical Trader

» Govt. to release 50 acres of capital land for investments
Tue Nov 28, 2017 11:32 am by කිත්සිරි ද සිල්වා

» Higher oil bill overshadows strong growth in exports
Tue Nov 28, 2017 11:12 am by Backstage

» නැනෝ ඉලෙක්ට්‍රික් හෙට සිට වෙළෙඳපොළේ – එක් ආරෝපණයකින් කිලෝමීටර 200 ක ධාවනයක්
Mon Nov 27, 2017 5:43 pm by Ethical Trader

» Deadly earthquakes could hit a billion people next year
Mon Nov 27, 2017 10:40 am by Backstage

» Only Sri Lanka’s top five stockbrokers profitable
Mon Nov 27, 2017 10:22 am by Backstage

» Brush manufacturer BPPL faced tough six months
Mon Nov 27, 2017 10:17 am by Backstage

» Sri Lanka's got Talent
Sun Nov 26, 2017 11:33 pm by sashimaal

» CUBA FOUND A CANCER VACCINE! MORE THAN 4 THOUSAND PEOPLE HAVE ALREADY BEEN CURED BY IT!
Sat Nov 25, 2017 11:38 am by Ethical Trader

» හදාගත් දරුවෝ: DNA බැංකුවට ශ්‍රී ලංකාවේ හා නෙදර්ලන්තයේ සහාය
Fri Nov 24, 2017 5:33 pm by Ethical Trader

» ෆයිසර් මුස්තාපාට එරෙහිව විශ්වාස භංගයක්?
Fri Nov 24, 2017 2:52 pm by Yin-Yang

» 'සිම්හල ද්වීපයේ පද්මාවතිය' හා අර්බුදයට මැදිවූ පද්මාවතී එක් තැනැත්තියක් ද ?
Fri Nov 24, 2017 1:22 pm by Ethical Trader

December 2017
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
24252627282930
31      

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

H’tota port PPP signing next week

View previous topic View next topic Go down

H’tota port PPP signing next week

Post by Backstage on Fri Oct 21, 2016 8:20 am

H’tota port PPP signing next week

Friday, 21 October 2016 00:01



Giving the strongest indication yet that Sri Lanka might be seeing light at the end of the debt tunnel, Finance Minister Ravi Karunanayake yesterday confirmed a viable Chinese partner had been found to forge a private-public partnership for the Hambantota port that would include transfer of debt and an agreement would be inked next week as well as the short-listing of four potential investors for SriLankan Airlines.

“We have found a viable partner to revive the Hambantota Port. A Chinese company has come forward to take 80% of the stake, while the balance will be with the Sri Lanka Ports Authority (SLPA),” Finance Minister Ravi Karunanayake told reporters at a special press briefing held at UNP headquarters ‘Sirikotha’.

He pointed out that this was a result of the efforts made by Prime Minister Ranil Wickremesinghe, adding that the Government is upbeat about the opportunities to resolve and turn around all outstanding ‘white elephant projects’ by the previous Government into economically viable ventures.

Building on the Prime Minister’s statements last week where he said a partner had been found for a debt-equity swap for the Mattala Airport, the Finance Minister said the inflow of funds from the Hambantota port would boost foreign reserves significantly,.

Karunanayake promised that the partnership would result in an inflow of $ 1,100 million worth of investment.

In addition, the Minister also revealed that the Government had shortlisted four major airline companies to revive debt-ridden national carrier SriLankan Airlines. “We received a total of 10 expression of interest (EOIs) where seven companies were selected and now we have shortlisted four. We will announce it in another two weeks’ time,” an upbeat minister said.

Private equity firm TPG and fund company BlackRock Inc were among half a dozen firms which have shown preliminary interest in a 49% stake in loss-making SriLankan Airlines, Reuters reported earlier this month.

Noting that Mihin Lanka employees had recently expressed distress over losing employment through the decision made to merge the two firms, Karunanayake explained that the decision was taken on the basis of pinning down the losses of the airlines.

“As a Government we want to create employment and not curtail it,” he added.

The Minister assured that the Appropriation Bill for 2017 was presented in “the true spirit of collaboration” after several rounds of meetings between President Maithripala Sirisena, Premier Ranil Wickremesinghe and himself. Karunanayake also assured that “there will be no amendments this time.”
Appropriation Bill presented in P’ment

Defense, healthcare, education, provincial councils and local govt. see reduction in allocations
President and PM funds increased significantly

Allocations for a number of key ministries, including those governing defence, healthcare, provincial councils and local government bodies, were reduced in the Appropriation Bill 2017 presented to Parliament yesterday, with education seeing a 58% reduction from Rs. 185.97 billion in the 2016 version to a proposed Rs. 76.94 billion this year.

Most notably, allocation for the Defence Ministry too recorded a marginal decrease for the first time since the war ended over seven years ago. Moving the motion, Finance Minister Ravi Karunanayake sought approval to raise and spend Rs. 1.819 trillion next year to meet the capital and recurrent expenses of the Government.

Among the key areas that saw an upsurge of funds were the allocations planned for the President and Prime Minister compared to considerable reductions in the allocations for defence, healthcare, education, provincial councils and local government bodies.

The allocation for the President doubled this year to Rs. 6.4 billion from Rs. 2.39 billion in 2016. However, this amount is still lower than the Rs. 8.7 billion allocated in the last Appropriation Bill presented by the administration of former President Mahinda Rajapaksa.

The allocation of funds for the Prime Minister also increased to Rs. 1.2 billion from Rs. 486.1 million this year. Apart from increased budgetary allocations for the President and Prime Minister, Appropriation Bill 2017 proposed increasing the allocations of the Ministry of Telecommunication and Digital Infrastructure to Rs. 2.4 billion compared to Rs. 423.8 million.

The defence budget has been brought down to Rs. 284.04 billion from Rs. 306 .6 billion, healthcare to Rs. 160.97 billion from Rs. 174.077 billion, and education to Rs. 76.94 billion from Rs. 185.97 billion.

Two weeks are given for any party to seek court intervention on the Appropriation Bill after which time the Finance Minister will present the Budget on 10 November. The Budget will then be debated in Parliament with a final vote expected on 10 December. (AH)


avatar
Backstage
Top contributor
Top contributor

Posts : 3223
Join date : 2014-02-24

Back to top Go down

Re: H’tota port PPP signing next week

Post by sashimaal on Fri Oct 21, 2016 9:02 am

Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
sashimaal
Top contributor
Top contributor

Posts : 5548
Join date : 2014-02-28

Back to top Go down

Re: H’tota port PPP signing next week

Post by කිත්සිරි ද සිල්වා on Fri Oct 21, 2016 9:09 am

නැත්නම් හිගන්නාගේ තුවාලේ වගේ !
(ඉස්සර යුද්දේ, දැන් හම්බ-තොට)  Very Happy
sashimaal wrote:Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
කිත්සිරි ද සිල්වා
Top contributor
Top contributor

Posts : 6935
Join date : 2014-02-23
Age : 59
Location : රජ්ගම

Back to top Go down

Re: H’tota port PPP signing next week

Post by sashimaal on Fri Oct 21, 2016 9:25 am

Razz

කිත්සිරි ද සිල්වා wrote:නැත්නම් හිගන්නාගේ තුවාලේ වගේ !
(ඉස්සර යුද්දේ, දැන් හම්බ-තොට)  Very Happy
sashimaal wrote:Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
sashimaal
Top contributor
Top contributor

Posts : 5548
Join date : 2014-02-28

Back to top Go down

Re: H’tota port PPP signing next week

Post by 007 on Fri Oct 21, 2016 10:30 am

Backstage wrote:H’tota port PPP signing next week

Friday, 21 October 2016 00:01



Giving the strongest indication yet that Sri Lanka might be seeing light at the end of the debt tunnel, Finance Minister Ravi Karunanayake yesterday confirmed a viable Chinese partner had been found to forge a private-public partnership for the Hambantota port that would include transfer of debt and an agreement would be inked next week as well as the short-listing of four potential investors for SriLankan Airlines.  

“We have found a viable partner to revive the Hambantota Port. A Chinese company has come forward to take 80% of the stake, while the balance will be with the Sri Lanka Ports Authority (SLPA),” Finance Minister Ravi Karunanayake told reporters at a special press briefing held at UNP headquarters ‘Sirikotha’.

He pointed out that this was a result of the efforts made by Prime Minister Ranil Wickremesinghe, adding that the Government is upbeat about the opportunities to resolve and turn around all outstanding ‘white elephant projects’ by the previous Government into economically viable ventures.  

Building on the Prime Minister’s statements last week where he said a partner had been found for a debt-equity swap for the Mattala Airport, the Finance Minister said the inflow of funds from the Hambantota port would boost foreign reserves significantly,.

Karunanayake promised that the partnership would result in an inflow of $ 1,100 million worth of investment.

In addition, the Minister also revealed that the Government had shortlisted four major airline companies to revive debt-ridden national carrier SriLankan Airlines. “We received a total of 10 expression of interest (EOIs) where seven companies were selected and now we have shortlisted four. We will announce it in another two weeks’ time,” an upbeat minister said.

Private equity firm TPG and fund company BlackRock Inc were among half a dozen firms which have shown preliminary interest in a 49% stake in loss-making SriLankan Airlines, Reuters reported earlier this month.

Noting that Mihin Lanka employees had recently expressed distress over losing employment through the decision made to merge the two firms, Karunanayake explained that the decision was taken on the basis of pinning down the losses of the airlines.

“As a Government we want to create employment and not curtail it,” he added.

The Minister assured that the Appropriation Bill for 2017 was presented in “the true spirit of collaboration” after several rounds of meetings between President Maithripala Sirisena, Premier Ranil Wickremesinghe and himself. Karunanayake also assured that “there will be no amendments this time.”
Appropriation Bill presented in P’ment

   Defense, healthcare, education, provincial councils and local govt. see reduction in allocations
   President and PM funds increased significantly  

Allocations for a number of key ministries, including those governing defence, healthcare, provincial councils and local government bodies, were reduced in the Appropriation Bill 2017 presented to Parliament yesterday, with education seeing a 58% reduction from Rs. 185.97 billion in the 2016 version to a proposed Rs. 76.94 billion this year.

Most notably, allocation for the Defence Ministry too recorded a marginal decrease for the first time since the war ended over seven years ago. Moving the motion, Finance Minister Ravi Karunanayake sought approval to raise and spend Rs. 1.819 trillion next year to meet the capital and recurrent expenses of the Government.

Among the key areas that saw an upsurge of funds were the allocations planned for the President and Prime Minister compared to considerable reductions in the allocations for defence, healthcare, education, provincial councils and local government bodies.

The allocation for the President doubled this year to Rs. 6.4 billion from Rs. 2.39 billion in 2016. However, this amount is still lower than the Rs. 8.7 billion allocated in the last Appropriation Bill presented by the administration of former President Mahinda Rajapaksa.  

The allocation of funds for the Prime Minister also increased to Rs. 1.2 billion from Rs. 486.1 million this year. Apart from increased budgetary allocations for the President and Prime Minister, Appropriation Bill 2017 proposed increasing the allocations of the Ministry of Telecommunication and Digital Infrastructure to Rs. 2.4 billion compared to Rs. 423.8 million.

The defence budget has been brought down to Rs. 284.04 billion from Rs. 306 .6 billion, healthcare to Rs. 160.97 billion from Rs. 174.077 billion, and education to Rs. 76.94 billion from Rs. 185.97 billion.

Two weeks are given for any party to seek court intervention on the Appropriation Bill after which time the Finance Minister will present the Budget on 10 November. The Budget will then be debated in Parliament with a final vote expected on 10 December. (AH)



This news can be a game changer for the time being but still a lot of uncertainty needs to be addressed
avatar
007

Posts : 159
Join date : 2014-11-29

Back to top Go down

View previous topic View next topic Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum