Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post
Market Place

Add an ad

View all ads

Latest topics

» CSE BULLISH MODE TO CONTINUE
by Yahapalanaya Today at 11:07 pm

» Next super star SINGER FINANCE..
by samansilva Today at 10:19 pm

» lOFC definitely will hit 6/-
by Miss-Sangeetha Today at 8:41 pm

» RCL.N0000 - Trading at a discounted prcice.
by Yahapalanaya Today at 7:47 pm

» Why AAIC Should trade above RS.50/-
by wisdom79 Today at 7:45 pm

» SFIN.N will be the next bull run
by Bakka1988 Today at 11:10 am

» LOFC -XR big transaction
by Promoney Yesterday at 10:33 pm

» LLUB Pattern reversed. Good buy @60, target +20%
by KOLAA Yesterday at 9:02 pm

» Momentum will begin after 5400
by prabath Yesterday at 8:42 pm

» WATA future looks good
by Teller Yesterday at 4:06 pm

» Look APLA its trending to 98LKR
by Teller Yesterday at 4:04 pm

» RICH is not bad @ 9/-
by Teller Yesterday at 4:03 pm

» Sri Lanka Dialog Axiata net profits up 21-pct in June quarter
by bhanu Yesterday at 1:47 am

» AEL lovers good news..Rusi again back on the track to AEL....
by Winner123 Sun Jul 14, 2019 10:02 am

» Look PAP Amazing company
by Teller Sat Jul 13, 2019 1:33 pm

» NEXT GEM.. HNB Non voting (HNB X)..
by samansilva Sat Jul 13, 2019 11:50 am

» LIOC upward curve
by samansilva Sat Jul 13, 2019 11:47 am

» TKYO.X0000 will it move furthur?
by samansilva Sat Jul 13, 2019 11:37 am

» Market will test 4700
by karuna2 Fri Jul 12, 2019 11:16 pm

» IDL IDL IDL
by samansilva Fri Jul 12, 2019 10:45 pm

» NEXT RUN People's leasing and Finance WAIT AND WATCH ENJOY RIDE..
by samansilva Fri Jul 12, 2019 2:49 am

» No Confidance motion against the Government was defeted by 119 and 92 against. 13 Absent
by Capton KIng Cool Thu Jul 11, 2019 9:58 pm

» Contact us for your bank instruments such as SBLC/BG/LC/MTN 100% Protected
by summitplc Thu Jul 11, 2019 10:34 am

» Contact us for your bank instruments such as SBLC/BG/LC/MTN 100% Protected
by summitplc Thu Jul 11, 2019 10:30 am

» PAN ASIA POWER
by Nuwan Samarawickrama Thu Jul 11, 2019 10:28 am

» Today JVP's No confidance motation in the Parliment is Very cruicial .WHY?
by Yahapalanaya Thu Jul 11, 2019 10:03 am

» Sri Lanka’s Royal Ceramics group expands contract manufacture in India
by shameen Thu Jul 11, 2019 12:23 am

» CIND , 10% guaranteed return
by Teller Wed Jul 10, 2019 3:15 pm

» BUY AEL Few crossings on the way..
by rukshan1234 Wed Jul 10, 2019 12:21 pm

» Unisyst Engineering Known as(Alufab) have annouced a right issue
by Capton KIng Cool Tue Jul 09, 2019 4:13 am

» what is the future of KHL (JOHN KEELES HOTELS)
by shameen Tue Jul 09, 2019 2:18 am

» BFN BFN BFN ගොන් කම අත ඇරල ටික කාලයක් අල්ලන් හිටියනම් ඔක්කොමලා ගොඩ BFN BFN BUY AND HOLD -
by prabath Tue Jul 09, 2019 12:49 am

» 10 Deadly Trading Mistakes!
by ipo Mon Jul 08, 2019 10:45 pm

» AIA Insurance Payment Method @ 2500/= per share
by Capton KIng Cool Mon Jul 08, 2019 9:46 pm

» KUDOS TO PRESIDENT FOR REINTRODUCING CAPITAL PUNISHMENT
by ipo Mon Jul 08, 2019 11:47 am

» AIA INSURANCE DE-LISTING (CTCE)
by ipo Mon Jul 08, 2019 11:42 am

» Regarst to 8 FINANCE Copmany's to be closed But no body knows excatly but avoid SFL,and MFL
by samaritan Mon Jul 08, 2019 8:31 am

» http://www.ft.lk/front-page/Biz-confidence-rebounds/44-681514
by nuwanmja Mon Jul 08, 2019 2:32 am

» Sri Lanka Shares Surge As Gov't Flags Projects & Rupee Steady
by samaritan Mon Jul 08, 2019 2:03 am

» Tommorow's winning encounters
by Cma Sun Jul 07, 2019 11:27 am

» Buy GHLL.N0000 Galadhari Hotels
by Teller Fri Jul 05, 2019 4:17 pm

» BALA can come down to 9/-
by Teller Fri Jul 05, 2019 4:08 pm

» 10 Golden rules os investing in stock market
by Capton KIng Cool Fri Jul 05, 2019 4:26 am


You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Govt has failed to set up Export Import(EXIM) Bank as promised in 2015 Nov Budget

Govt has failed to set up Export Import(EXIM) Bank as promised in 2015 Nov Budget

Go down  Message [Page 1 of 1]

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Another example of No Action Talk Only(NATO) or Talk Only No Results UNP leadership and govt

2015 Nov Budget Proposal to set up Export Import(EXIM) Bank by 1/4/2016 is still pending with no tangible progress made


The delay in the setting up of an Export Import Bank (EXIM Bank) in Sri Lanka and the discrepancy in the allocation of funds for this purpose by the Treasury have triggered confusion pushing the government’s ambitious plan into the doldrums, economic analysts said.
The proposal to set up the EXIM Bank, with an initial capital of Rs. 25 billion, subscribed jointly by the government and the industry was made in the 2016 budget.
It has also been proposed to allocate Rs. 50 million as seed capital being the contribution of the Government EXIM bank that will be operational from 01 April, 2016.

According to the budget proposal, it is also envisaged to list this company in the CSE.
Although this proposal was made known in the  2016 budget presented in November 2015, no action has been taken to make it operational up to now.
However the very same proposal was included in the 2017 budget presented in 2016 without mentioning that this same proposal was passed in parliament in 2016.


Finance Minister Ravi Karunanayake told parliament during his 2017 budget speech last year(2016) that a sum of Rs.10 billion would be allocated initial contribution for the establishment of the EXIM Bank.
This bank is a government or semi-government agency which commonly provides insurance cover to exporters against losses from non-payment by the importers, as a means to promote the country’s foreign trade.
Other services offered by EXIM Bank may include marine insurance, post-shipment discounting of invoices, pre-shipment advances against confirmed orders, and help in finding new markets, the Finance Minister revealed in parliament last year.
Making the matter more controversial, the government has presented a supplementary estimate in parliament recently allocating Rs.10 billion to set up the bank.
A supplementary estimate should be presented in parliament to provide funds to the Government to meet new or increased costs.
But it is unclear as to why the government has presented a supplementary estimate with a view of allocating a sum of Rs. 10 billion for the setting up of EXIM Bank when the money has been allocated for it from two previous budgets and passed in parliament, an economic analyst said.

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:Another example of No Action Talk Only(NATO) or Talk Only No Results UNP leadership and govt

2015 Nov Budget Proposal to set up Export Import(EXIM) Bank by 1/4/2016 is still pending with no tangible progress made


The delay in the setting up of an Export Import Bank (EXIM Bank) in Sri Lanka and the discrepancy in the allocation of funds for this purpose by the Treasury have triggered confusion pushing the government’s ambitious plan into the doldrums, economic analysts said.
The proposal to set up the EXIM Bank, with an initial capital of Rs. 25 billion, subscribed jointly by the government and the industry was made in the 2016 budget.
It has also been proposed to allocate Rs. 50 million as seed capital being the contribution of the Government EXIM bank that will be operational from 01 April, 2016.

According to the budget proposal, it is also envisaged to list this company in the CSE.
Although this proposal was made known in the  2016 budget presented in November 2015, no action has been taken to make it operational up to now.
However the very same proposal was included in the 2017 budget presented in 2016 without mentioning that this same proposal was passed in parliament in 2016.


Finance Minister Ravi Karunanayake told parliament during his 2017 budget speech last year(2016) that a sum of Rs.10 billion would be allocated initial contribution for the establishment of the EXIM Bank.
This bank is a government or semi-government agency which commonly provides insurance cover to exporters against losses from non-payment by the importers, as a means to promote the country’s foreign trade.
Other services offered by EXIM Bank may include marine insurance, post-shipment discounting of invoices, pre-shipment advances against confirmed orders, and help in finding new markets, the Finance Minister revealed in parliament last year.
Making the matter more controversial, the government has presented a supplementary estimate in parliament recently allocating Rs.10 billion to set up the bank.
A supplementary estimate should be presented in parliament to provide funds to the Government to meet new or increased costs.
But it is unclear as to why the government has presented a supplementary estimate with a view of allocating a sum of Rs. 10 billion for the setting up of EXIM Bank when the money has been allocated for it from two previous budgets and passed in parliament, an economic analyst said.
Govt has failed to set up Export Import(EXIM) Bank as promised in 2015 Nov Budget F5110

Back to top  Message [Page 1 of 1]

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