New SLTC Chairman implores govt, stakeholders:
‘Formulate 10-year tea industry plan’
Sri Lanka Tea Council’s (SLTC) new Chairman
Merrill J Fernando yesterday implored the government and all
industry stakeholders to formulate a 10- year sustainable plan to
take the world famous Ceylon Tea to its pristine glory. Sri Lanka’s
tea industry has been a sleeping giant over the years and it is high
time that all the stakeholders-planters, growers, exporters and
brokers united to take the Ceylon Tea brand to its pristine glory,
Fernando told Daily News Business.
Banking Sector robust with capital
Bigger scope for lending:
The country’s banking sector is keeping up with
its growth momentum and record impressive performance which it was
able to pick up in 2010. The annual lending growth has accelerated
from zero to 22 percent in the backdrop of a low interest regime.
Reductions in interest rates and improving economic conditions have
created an environment conducive to borrowing and investment,
“three”, the Heraymila Securities Limited quarterly issue said.
More foreign projects coming in:
IT/BPO highest growth sector of Sri Lanka’s economy
Information Technology and Business Process
Outsourcing (IT/BPO) industries are expected to be among the highest
growth sector of the country’s economy with the 20 percent annual
growth rate, in terms of revenue. Even though Sri Lanka is the new
toddler on the block in the IT and BPO area, it has the ability to
compete with high profile counterparts.