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Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka Economy

Sri Lanka Economy

Go to page : Previous  1, 2, 3, 4, 5, 6  Next

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21Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:01 pm

EPS


Expert
Expert
How about the Motor Sector ? Will Announce any Tax reductions?
Also, any good news for Food sector companies.
Then, Think Hotels sector.
I think some Manufacturing companies also will have benefits.

22Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:04 pm

NC


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
"The government says it focused on a Medium Term Budgetary Framework 2015 - 2017 mainly to ensure development by creating more livelihood and employment opportunities, food security, energy security and environmental safety with particular emphasis on low income and poor families."

http://www.colombopage.com/archive_14B/Oct23_1414043285CH.php

23Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:05 pm

RPPA


Expert
Expert
@VALUEPICK wrote:May be support for poultry, tea, rural development, value added products, and Indigenous-Medicine.

I like your picks. Bit different to others.
Very Happy Very Happy Very Happy Very Happy Very Happy

24Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:08 pm

NC


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@EPS wrote:How about the Motor Sector ? Will Announce any Tax reductions?
Also, any good news for Food sector companies.
Then, Think Hotels sector.
I think some Manufacturing companies also will have benefits.

I don't think this budget will more care on motors except construction vehicles/machines. However, tax increase of Hybrid vehicles could be expected (rumor)....
Lets see... Very Happy

25Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:17 pm

EPS


Expert
Expert
Proposed taxes

n15 per cent salary hike as an allowance subjected to a maximum of
Rs. 2500 for public sector employees and raising subsidies for agriculture.
n10-25 per cent increase in taxes on imported liquor, tobacco, the
annual licence for motor vehicles, the Nation Building Tax and Value Added
Tax (VAT) for purchases in supermarkets, malls, hotels and restaurants.
nTo protect local manufacturers, taxes on imported leather, plastic,
metal, steel products, furniture, pharmaceuticals, biscuits, chocolates,
confectioneries, apparel and textile will be increased.
Most of these financial and budgetary proposals will be included in
annexures but not in the budget speech, a senior government official said.

http://www.sundaytimes.lk/141005/business-times/2015-sri-lankan-budget-bag-full-of-election-goodies-120454.html

26Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 3:24 pm

EPS

EPS
Expert
Expert

27Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 4:21 pm

NC

NC
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@EPS wrote:Proposed taxes

n15 per cent salary hike as an allowance subjected to a maximum of
Rs. 2500 for public sector employees and raising subsidies for agriculture.
n10-25 per cent increase in taxes on imported liquor, tobacco, the
annual licence for motor vehicles, the Nation Building Tax and Value Added
Tax (VAT) for purchases in supermarkets, malls, hotels and restaurants.
nTo protect local manufacturers, taxes on imported leather, plastic,
metal, steel products, furniture, pharmaceuticals, biscuits, chocolates,
confectioneries, apparel and textile will be increased.
Most of these financial and budgetary proposals will be included in
annexures but not in the budget speech, a senior government official said.

http://www.sundaytimes.lk/141005/business-times/2015-sri-lankan-budget-bag-full-of-election-goodies-120454.html

the following tax increases are totally unfair according to my view;
- Tobacco; Most labours highly depend on tobacco, and they cannot give up it all. How much is there daily earning...? and how much they spend on cigars...?
- Annual licence for motor vehicles; Dual purpose (DP) and heavy vehicles (HV) renwal fees're even now at a high. But, luxury and semi-luxury taxes are comparatively low. Those DP and HV either, transport cargo either passengers. So, what happens transport cost of those..? This's not the way that a Gov. should look at low income people..
- Pharmaceuticals; How much of drugs are manufactured in local, the SPC, GSK.. ? 200 products, and its over all 15% of market. 85% are imported. And, many patients are reluctant to use local products bcz of quality and all... What'll happen to patients? Many medicines're life long or long term therapy...
I wonder these, taxes are to protect the manufactures or to protect the government.... Evil or Very Mad Evil or Very Mad

28Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 4:38 pm

fff4sl

fff4sl
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@NC wrote:
@RPPA wrote:
@NC wrote:Hope subsidies will be given for;
- Manufacturing
- Hotels and travels
- Plantation
-Bank and Finance
-Construction

Little on:
- Footwear/textile and Information technology

And; Beverage, food and tobacco.. ( cannot say + /- )

Machang NC

no no no

You have given a general comment.That is easy guess.

Thats Mahinda Chinthanaya... Very Happy
This budget will be more target on Presidential election... That's the point of view we should look at... Very Happy

I agree with you...

29Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Oct 23, 2014 4:58 pm

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@EPS wrote:With the Expecting economy favorable budget, which companies will benifited ?

TKYO

30Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Fri Oct 24, 2014 5:01 am

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
Corporate taxes will be increased?government servants get salary increment .due to presidential election people will be given more consessions at the expenses of private sector.to be honest this budget will not be a good one for private sector.

Main objective of the budget to increase vote base not to improve economy.

31Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Fri Oct 24, 2014 9:03 am

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Budget will be based on bringing down the cost of living. They have to do this in either two ways. Loss of tax revenues to treasury or keep it as it is and squeeze the Companies.

32Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Fri Oct 24, 2014 9:10 am

NZ BOY

NZ BOY
Moderator
Moderator
favorable for plantation and motor

33Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Fri Oct 24, 2014 2:20 pm

Sarabulathwita

Sarabulathwita
Vice President - Equity Analytics
Vice President - Equity Analytics
power sector favorable budget !!!!!!!!

34Sri Lanka Economy - Page 2 Empty SRI LANKA'S ECONOMY on Mon Jun 18, 2018 2:56 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Capt.Ranwick from on board 'S L ECONOMY'.
Sri Lanka Economy - Page 2 Sinkingship

35Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Tue Jun 19, 2018 1:14 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka Economy - Page 2 9k=
ECONOMY UNDER 'GOO GOVERNANCE'.

36Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Tue Jun 26, 2018 4:02 am

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@samaritan wrote:Sri Lanka Economy - Page 2 9k=
ECONOMY UNDER 'GOO GOVERNANCE'.
Lol

37Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Tue Jun 26, 2018 5:06 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Central Bank Governor predicts the likelihood of a painful financial crisis similar to that of Greece if bad policies continue.
('Mirror Business' of today)

In my opinion the govt has no alternative policies and hence,a painful financial crisis may be inevitable.

38Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Wed Jun 27, 2018 8:56 am

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@samaritan wrote:Central Bank Governor predicts the likelihood of a painful financial crisis similar to that of Greece if bad policies continue.
('Mirror Business' of today)

In my opinion the govt has no alternative policies and hence,a painful financial crisis may be inevitable.
PM says that he does not know the whereabouts of Arjuna Mahendran.

39Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 6:26 am

reyaz

reyaz
Manager - Equity Analytics
Manager - Equity Analytics
WHAT ABOUT DAY TO DAY BUSINESS? GOVERNMENT BAD POLICIES? NAME ONE BAD POLICY PLEASE


DAILY PEOPLE MIND THEIR OWN BUSINESS, PEOPLE LIVE AND PEOPLE MAKE MONEY AND PEOPLE DIE OTHER PEOPLE MAKE MONEY(THROUGH INHERITANCE AND INSURANCE DEATH CLAIM) AND ALSO SALARY INCREMENTS ALSO AFFECT THE ECONOMY IN A BIG WAY. ALL THE MONEY END UP IN BANKS AND EVENTUALLY END UP IN STOCK MARKET- "BAD POLICIES" IS JUST A SCARE TACTIC BY PEOPLE WHO "THINK" THEY ARE BORN TO LICK MAHINDA RAJAPAKSE'S SHOES.


HIGH CALIBRE TRADING

40Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 9:40 am

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The concern about the current bad policies are raised by no one other than the Central Bank Governor under Goo Governance.

I feel former forum member Karuna is back after under going a minor operation.Sri Lanka Economy - Page 2 Icon_lol

41Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 6:38 pm

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
policy makers are on the correct track it seems ! cannot be certain for sure ! but sudden change would be a essence for disaster ! people will decide by 2020 what they want disaster or stability ! either way it would not be good for the people just the stability .........!!!!!!!!!!!

42Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 7:17 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@anges wrote:policy makers are on the correct track it seems ! cannot be certain for sure ! but sudden change would be a essence for disaster ! people will decide by 2020 what they want disaster or stability ! either way it would not be good for the people just the stability .........!!!!!!!!!!!
If policy makers are on the correct track, are you saying the Central Bank Governor is on the wrong track?

43Sri Lanka Economy - Page 2 Empty Turnaround time for economy: MR on Tue Nov 26, 2019 6:31 pm

fireshelter

fireshelter
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

  • Says he is aware of tough task ahead 

  • Confident of delivering policy consistency, economic growth 

  • Plans fresh legislation to protect public servants from FCID 

  • Insists he has proven track record after being Fin. Min. four times 

  • Policies to rejuvenate economy already drawn up, promises swift implementation 

  • Believes growth will be felt by everyone from farmer to big corporation 


By Uditha Jayasinghe 

Prime Minister Mahinda Rajapaksa yesterday assured policy consistency, competent leadership and economic stimulus to turnaround Sri Lanka’s economy in the shortest possible time, when assuming duties as the Finance Minister.   

Speaking at the Finance Ministry, Prime Minister Rajapaksa spoke extensively on what he termed the shortcomings of the previous administration. He insisted that due to their numerous shortcomings, the economy had been suffering for a number of years and it was now his responsibility as Finance Minister, for the fourth time, to implement solutions. 

He also made an effort to bolster the confidence of the public sector, censuring the Financial Crimes Investigations Division (FCID) for its conduct and assuring that he would bring in legislation which would protect all public employees who made decisions based on “good intentions” from any legal persecution.      

“The FCID has frightened public servants to the point they are afraid to take decisions. In the near future I hope to introduce legislation that will protect any public servant working with good intent. Fear of persecution has resulted in the public sector grounding to a virtual halt,” he told the Finance Ministry staff, well-wishers and reporters.

Rajapaksa pointed out that the policy manifesto of President Gotabaya Rajapaksa aimed to achieve a slew of goals for Sri Lanka, including increasing economic growth to 6.5%, per capita income to $ 6,500, delivering sweeping tax cuts while maintaining the Budget deficit under 5% and bringing interest rates to single digits.

“Policies to rejuvenate the economy have already been drawn up and implementing them will happen fast. Not only will we provide relief, we will also provide a boost to the economy and achieve the targets that have been set out in our manifesto. We are confident that we can achieve this but it can only be done with the dedication and hard work of everyone. We will create an economy that will provide tangible prosperity for everyone, including fishermen, farmers, small enterprises and large companies.”

Rajapaksa severely criticised the previous administration headed by former Prime Minister Ranil Wickremesinghe, whom he insisted had taken on a country that was experiencing good growth.  

“This is the fourth time I have become the Finance Minister and at each instance there have been different challenges for us to deal with. This time I have become Finance Minister at a critical point for Sri Lanka. To understand the weight of this challenge it is necessary to look back at where we were in 2014. At that point, for five years the average growth rate was 6.8%, our GDP growth had grown to $ 79 billion, inflation was at 3.3% and reserves were at a historical high of $ 8.2 billion,” he said. 

Rajapaksa added that the exchange rate was at about Rs. 130, lamenting the depreciation of the rupee that had taken place since then, and argued that the country’s debt had increased as a result. He also contended that poverty had been under control, as much as 98% of the population had uninterrupted electricity, the Budget deficit was low and taxes were at a level which people could bear. Debt as a percentage of GDP had reduced to 71% from 91%. 

“In addition, Sri Lanka had the capacity and background to face a global crisis with courage and professionalism. Even though there was a humanitarian effort underway, resources for this were found by the Finance Minister. There were single-digit loan rates with the free circulation of money. There were also many infrastructure projects being implemented across the country. Local and foreign investors had confidence in Sri Lanka. The entire country, in short, was like one large construction site. That was the situation when I handed over the Government and left. This situation has completely reversed in the past few years.  

“All sectors of the economy are stagnating today, growth is slow and loan rates have doubled along with inflation. The private sector has fallen, investors have lost their confidence in Sri Lanka, even the tourism industry, which was the only bright spot, suffered badly after the Easter Sunday attacks. Thousands of companies have closed and non-performing loans are at a point never seen before,” he stated. 

Even though efforts were made to draw attention to these issues by his party, the warnings went unheeded, Prime Minister Rajapaksa said. He praised the public for giving a resounding mandate to President Gotabaya Rajapaksa and paving the way for him to return as Finance Minister to provide solutions.     

“I’m fully aware of how challenging this task is and how important it is to turn around the economy. We have to quickly create an environment where the public sector, the private sector and other stakeholders can have confidence and policy consistency. When we are successful in doing this, the confidence in our economy will improve and investment will increase. A positive cycle that benefits the poor and middle classes will be created.

44Sri Lanka Economy - Page 2 Empty More Govt Jobs Destroy Economy on Wed Jan 22, 2020 7:44 am

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
More than debt moratorium, tax cuts (Both have a positive effect medium term) or credit rating downgrade,  More Govt Jobs will hamper the economy and will never recover from there...

Actually none of these other efforts will not be fruitful after creating Macro economic issues which destroy economy and then also keeping SOE's without privatising..

https://economynext.com/sri-lanka-tax-payer-to-bear-unemployable-graduates-burden-from-march-41133/

Another cycle same output.. If Govt want to give Jobs to unemployed and poor, they have to arrange them for Private sector and ask them to work and earn. Govt can hire them or ask Private sector to pay half while Govt give half till they get trained for few years, afterwards they have to be absorbed or find other jobs. The money given by Govt can be considered a Long term loan and asked to pay later. Then these people will become productive labour. . Now these people going to sleep and earn in the Govt sector. Simply a burden on Tax payers and private sector. Private sector and general public will be loaded with some taxes or another to cover their salaries....

Who is advising this Govt to do these crazy things ..... ??


What is your idea ??

45Sri Lanka Economy - Page 2 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 10:29 am

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
privet sector have to pay gvt pin padi jobs

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