The Government has reduced the income tax rates
on employment income of SriLankan pilots with immediate effect.
Pilots will not be subject to pay a maximum of 20 per cent in the
future for their employment income.
A Construction Authority Act will be passed in
Parliament within three months for the benefit of the construction
industry. In addition to helping the on going projects the new act
would also help to facilitate the ongoing private public
Past President Sri Lanka Food Processing
Association (SLFPA) and National Agribusiness Council Mario De Alwis
emphasized the importance of a national strategy for agriculture to
address the potential food crisis medium to short term basis.
Mahmoud Ahmadinejad with Presient Mahinda Rajapaksa at
the launch of the project in Sapugaskanda yesterday.
The growth in
reserve money was contained well within the targets and
restricted to 10.2 per cent, the lowest growth in the
last five years. This helped to neutralise almost fully,
the impact of excessive reserve money expansion
experienced in 2006. The reserve money expansion was
highly restrictive compared with the nominal GDP growth
of 21.8 per cent. As a result, broad money growth also
decelerated, though it remained above the level
envisaged in the monetary programme. Both the net
foreign assets (NFA) and net domestic assets (NDA)
increased, contributing to the broad money expansion in
2007. (Central Bank Annual Report 2008)