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» ජීවිතය පටන් ගන්නේ 60න්
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» මිලියන 4,000 ක අකිලගේ ටැබ් කොන්ත්‍රාත්තුව අබාන්ස්ට
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» Dhananath Fernando wins $ 10,000 for Sri Lanka in Think Tank Shark Tank in Asia
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» උදයංග වීරතුංග රැගෙන ඒමට පොලිස් නිලධාරීහු ඩුබායි වෙත
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» ධම්මික පෙරේරා කෝටි 16 ක කාරයක් ගෙනෙයි
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» SAMP.N0000 (SAMPATH BANK PLC)
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» APLA.N0000 (ACL PLASTICS PLC)
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» විගණකාධිපතිගේ 2016 වාර්තාව මෙන්න
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» Boost for foreign investment in Govt. securities
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» CCS.N0000 ( Ceylon Cold Stores)
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» ලෝක ආර්ථිකය කඩා වැටෙද්දී එහි බලපෑම කොළඹට දැනුන හැටි
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» තෙල් මිලේ වැඩිවීමෙන් ගුවන් ටිකට් මිල නගී
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» ජනාධිපති පරීක්ෂණ කොමිෂන් සභාවෙන් ලද, සිංහල භාෂාමය වාර්තා තිස් හතර (34)
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» විල්පත්තු "වන විනාශය": පෙත්සම සලකා බැලීමට අධිකරණයේ අවසර
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» බැඳුම්කරය: ඇලෝසියස් සහ පළිසේන අත්අඩංගුවට
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» TPL.N0000 (TALAWAKALE PLANTATIONS )
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» ජනශක්ති ගනුදෙනුව තීන්දුයි. වටිනාකම රුපියල් බිලියන 16 යි
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» BBC කණ්ඩායමක් තාලිබාන් පාලන කලාපයකට ඇතුල් වෙති
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» වර්ෂ 152 කට පසු දර්ශනය වන 'සුපිරි නීල රුහිරු සඳ'
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» ලංකා බැංකුවට අයත් ජනශක්ති හිමිකම විකුණයි
Thu Feb 01, 2018 4:54 pm by Ethical Trader

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Thu Feb 01, 2018 4:52 pm by Ethical Trader

» ජනපති හා ADB අධ්‍යක්ෂ මණ්ඩල සාමාජිකයින් අතර හමුවක්
Thu Feb 01, 2018 4:51 pm by Ethical Trader

» තවත් කොටස් තැරැව්කාර සමාගමක් වසා දමයි
Thu Feb 01, 2018 4:50 pm by Ethical Trader

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Wed Jan 31, 2018 6:59 pm by soileconomy

» Bank of Ceylon divests stake in Janashakthi Insurance
Tue Jan 30, 2018 3:58 pm by TraderCSE

» වෛද්‍ය වර්ජනය: රජයේ වෛද්‍ය නිලධාරීන්ගේ සංගමයේ ඉල්ලීම් මොනවාද?
Mon Jan 29, 2018 6:36 pm by Ethical Trader

» නිවුන් අලි උපත්: මේ කරුණු දැන සිටියාද?
Mon Jan 29, 2018 12:14 pm by Ethical Trader

» Perpetual Treasuries
Mon Jan 29, 2018 7:43 am by Danidu

» කලා කෘතියක් ඉල්ලූ ජනාධිපති ට්‍රම්ප් වෙත 'රන් වැසිකිලියක්' - වාර්තා
Sat Jan 27, 2018 6:37 pm by Ethical Trader

» TJL.N0000 (Textured Jersey Lanka PLC.)
Fri Jan 26, 2018 6:32 pm by Ethical Trader

» සේවා ස්ථානයේ අරියාදු සහ අඩන්තේට්ටම් : 'බුලි' වුණොත් මොකද කරන්නේ?
Thu Jan 25, 2018 5:02 pm by Ethical Trader

» RULES ON ALL OR NONE (AON) BLOCKS
Thu Jan 25, 2018 4:55 pm by Ethical Trader

» Time is of essence in dealing with dengue:Expert, Recent deaths could be due to patients "coming in late" for treatment
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» නියම බුදු දහම
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» "දූෂණය" ගැන මහින්ද රාජපක්ෂට නඩු පවරන්න - ජනාධිපති කොමිසම
Wed Jan 24, 2018 7:04 pm by Ethical Trader

» හිඟයක් වැළැක්වීමට ලේ දන් දෙන්න: ජනතාව වෙත ඉල්ලීමක්
Tue Jan 23, 2018 7:12 pm by Ethical Trader

» බලාගෙනයි, 'ගුවනින් අසූචි'!
Tue Jan 23, 2018 7:10 pm by Ethical Trader

» සිව් හෙලයේ ඉතිහාසය නිවැරදි කිරීම
Tue Jan 23, 2018 11:51 am by Ethical Trader

» ප්‍රගීත් එක්නැලිගොඩ: "ෆයිල් අතුරුදහන්වීම" ගැන සන්ධ්‍යා හමුදාපතිට කිවූ දේ
Thu Jan 18, 2018 12:13 pm by Ethical Trader

» China offers best chance for SL development: CB
Thu Jan 18, 2018 9:27 am by කිත්සිරි ද සිල්වා

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Private sector views Mangala’s appointment in positive light

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Private sector views Mangala’s appointment in positive light

Post by Backstage on Tue May 23, 2017 1:56 pm

Private sector views Mangala’s appointment in positive light
2017-05-23 00:00:00


By Chandeepa Wettasinghe
The appointment of Mangala Samaraweera as the country’s Finance Minister yesterday drew positive responses from the private sector, which insisted that he should continue the reform process that has already been set in motion.
“At a time when we were starving for positive news, we view his appointment positively and we wish him very well. Our key expectations are for policy continuity as well as vigour in implementing policies,” Ceylon Chamber of Commerce Chairman Samantha Ranatunga said.
Samaraweera in his Twitter accounts said he was deeply humbled by the trust place on him by President Sirisena and Prime Minister Wickremesinghe in creating “a robust flourishing and modern economy”.
Most investors have been complaining about Sri Lanka’s policy consistency, which has become a victim of party politics in the unity government—a scenario that contributed to foreign direct investments in 2016 slumping by 34.4 percent year-on-year to US $ 445 million.
Meanwhile, Colombo Stockbrokers’ Association President Ravi Abeysuriya too shared sentiments similar to that of Ranatunga.

“We are very hopeful and positive that things will be better. We are looking forward to a consistent policy framework and implementing the policy reforms that have already been announced,” he said.
Abeysuriya noted that some desirable reforms have been communicated by former Finance Minister Ravi Karunanayake recently, including through the 2017 budget. The government is attempting to broad base the income taxation and liberalize the foreign exchange regime—two key reforms Karunanayake was attempting to push through—although his approach to foreign exchange reforms without widespread stakeholder engagement drew criticism last month.
Karunanayake saw some success in improving the government’s revenue to gross domestic product (GDP) ratio up to 14.9 percent from the 11.5 percent level that prevailed when former President Mahinda Rajapaksa was the Finance Minister.
But improved government finances came at a considerable political cost, as the higher indirect taxes slapped on people through the increase of value-added tax drew massive public discontent.
Meanwhile, several political observers noted that the future policy direction from the Finance Ministry would depend on who Samaraweera selects as his deputy, since the minister is believed to have limited experience on the subject.
Ranatunga noted that Samaraweera has able department heads and ministry advisors at his service as well. It is not yet clear which government departments, agencies and enterprises will fall under Samaraweera, who enjoys relatively an untainted reputation. Speculation is rife that several gazette notifications are due over the responsibilities of some of the reshuffled ministers.
Samaraweera was an effective Foreign Minister, who attempted to reconcile the nation and gave Sri Lanka breathing space at the United Nations Human Rights Commission. He was also instrumental in Sri Lanka regaining the GSP Plus trade concession from the European Union. Karunanayake, who held the Finance portfolio till yesterday, brought the country’s budget deficit down to 4.4 percent of GDP in 2016 from 7.4 percent in the previous year though higher taxes, better tax collection and expenditure cuts.
He was recognized as the Best Finance Minister of the Asia Pacific for the year 2016 by the UK-based The Banker magazine.
One of the major criticisms of Karunanayake’s time in the Finance Ministry was his repeated attempts to invade into the spheres of operation and the independence of the Central Bank.



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Re: Private sector views Mangala’s appointment in positive light

Post by Ethical Trader on Tue May 23, 2017 2:26 pm

Thanks Back.

Politician's role is to set policies @ right perspective & facilitate it with required laws, rules & regulations, and not to interfere with day today administrative issues. They should be good listeners/learners to/from administrators/experts and not just meddlers with their work. Hope Mangala would understand the fine difference between policy making and policy implementation. Then he would make a good minister.
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Re: Private sector views Mangala’s appointment in positive light

Post by Backstage on Thu May 25, 2017 11:59 am

Mangala is one of the more competent and less corrupt. Mahinda Samarasinghe too
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Re: Private sector views Mangala’s appointment in positive light

Post by yellow knife on Thu May 25, 2017 1:47 pm

But we are losing the Best Fin of Asia to a fashion designer... Shocked

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