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Katugastota Bridge Construction Behind Schedule
Katugastota Bridge Construction Behind Schedule >>

Katugastota Bridge Construction Behind Schedule


Addressing the Kandy District Development Coordinating Committee the District Secretary Mr. Ghotabhaya Jayarathne stated that the Presidential Secretariat had instructed that the construction of the Katugastota bride should be expedited. Construction commenced in June 2005 and should have been completed in three years in June 2008.
Read More>>

New Forum to Help Kandy Private Sector

A new body called the Central Province Government Business Development Forum (BDF) was inaugurated recently under the Leadership of the Chief Minister of the Central Province Sarath Ekanayake to help resolve issues that affect private business in Kandy and the Central Province. The BDF has been established under the Economic Governance Program of The Asia Foundation.

This is a unique body that includes the senior elected officials of the Provincial Council, KMC and other major local government institutions, senior members of the bureaucracy as well as representatives of trade chambers including the Central Province Chamber of Commerce and Industry, Women's Chamber, Sinhala Welenda Mandalaya ,Tamil Traders Association and the Muslim Traders Association.Read More>>


Kandy District Leads in Land Encroachment


The Presidential Secretariat and the Defense Ministry have ordered the Kandy District Administration to take immediate action to stop encroachment on state land and illegal construction on such land said the Kandy District Secretary Ghotabhaya Jayaratne addressing a meeting of the Kandy District Coordinating Committee held recently in the Kandy District Secretariat. The Presidential Secretariat, is of the view that illegal encroachment is far more widespread than elsewhere in the island. The Defense Ministry is concerned that illegal construction on road reservations forms a potential security threat.

Mr. Jayaratne also stated that government department and agencies that had custody of such land simply failed to enforce the law and prevent encroachment and illegal construction. He cited the Road Development Authority as one prime example. Encroachment of road reservations is a common practice in every part of the country. Peradeniya University has also lost a considerable amount of land to encroachers and the university has done practically nothing to reclaim the land he noted. Read More>>

 
Lion Chithra Weerarathna is First Lady President of Kandy Lions
Editorial

Responding to the Fuel Crisis

Rising oil prices are hurting the Sri Lankan economy. The current 30% annual rate of inflation is the highest rate recorded since 1980, and well over three times the Indian rate of 8.75%. Apart from elevated oil (and food) prices the large budget deficit of the government adds to that inflation. If the government and private sector accede to a large increases in wages unmatched by productivity gains inflation will further accelerate..
The central bank's attempt to curb bank credit by raising interest will discourage private investment and reduce growth and jobs.

Partly driven by high oil and food prices and partly by military equipment imports, the trade deficit has risen sharply. In January-March 2007 the trade deficit was $669 million. This year for the same period it was double that amount, $1,386 million. The government is scrambling to raise more foreign loans to pay for imports. The latest is a $150 million loan at commercial interest rates. Read More>>

 
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