News
Plantations stocks hammered after wage hike gazette
Plantations stocks closed upto 2.5 percent lower Thursday after the government announced that companies would have to pay a daily wage of 1,700 per worker.
Already some workers who were paid on a model somewhat similar to that of small holder workers, were earning higher wages than those who were paid through a mandate wage.
According to the gazette notice, plantations workers will have to be paid 1350 rupees a day, there will be a ‘daily special allowance’ of 350 rupees and an over kilogram rate of 80 rupees a day.
Talawakelle Tea Estates Plc closed down at 112.75, Elpitiya Plantations Plc closed down at 120.50, Watawala Plantations Plc closed down at 90.10, Madulsima Plantations Plc closed down at 9.90, Kelani Valley Plantations Plc closed down at 74.90, Sunshine Holdings Plc closed down at 61.60, Maskeliya Plantations Plc closed down at 32.00.
Kahawatte Plantations Plc closed down at 18.00, Agalawatte Plantations Plc closed down at 34.50, Malwatte Valley Plantations Plc closed down at 61.90, Namunukula Plantations Plc closed down at 349.75, Hapugastenne Plantations Plc closed down at 32.00, Udapussellawa Plantations Plc closed down at 71.40, Bogawantalawa Tea Estates Plc closed down at 36.50, Kotmale Holdings Plc closed down at 426.75, Kegalle Plantations Plc closed down at 116.25.
Hatton Plantations Plc was up at 75.40, while Horana Plantations Plc closed up at 39.80.Kotagala Plantations Plc closed flat at 6.30.
The Cabinet of Ministers has approved the resolution furnished by the Minister of Industries and Entrepreneurship Development to recognize the “Sri Lanka National Export
Development Plan – 2026–2030” as the official strategic framework for export development and promotion of exports in Sri Lanka.
The Sri Lanka Export Development Board, in collaboration with public and private sector stakeholders connected to the export sector, has formulated the National Export Development Plan 2026–2030 by obtaining technical assistance under the Policy-Based Lending Programme of the Asian Development Bank.
The aforementioned Plan provides a comprehensive strategic framework to guide and monitor Sri Lanka’s export development process, with the target of earning US$ 36 billion in foreign exchange through the export of goods and services by the year 2030
The Cabinet of Ministers has approved the resolution furnished by the Minister of Women and Child Affairs to accept the Global Charter for Children’s Care Reform for Sri Lanka.
Approval has been granted by the Cabinet of Ministers on several earlier occasions to amend the Consumer Affairs Authority Act No. 9 of 2003.
In accordance with the approval granted at the Cabinet
meeting held on 2023-05-02, the Legal Draftsman is currently in the process of preparing the relevant amended Bill, and the Legal Draftsman has informed that it would be appropriate to obtain policy approval from the present Cabinet of Ministers for that purpose.
Accordingly, taking into consideration the necessity of restructuring the Consumer Affairs Authority too, the Cabinet of Ministers has approved the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative
Development to instruct the Legal Draftsman to expeditiously complete the preparation of the relevant Bill to enable the amendment of the Consumer Affairs Authority Act, No. 9 of 2003.
Cabinet approves recognition of ‘Sri Lanka National Export Development Plan – 2026–2030’
Cabinet nod to accept the Global Charter for Children’s Care Reform for Sri Lanka
Cabinet grants policy approval to amend the Consumer Affairs Authority Act, No. 9 of 2003
Cabinet approal for Legal Draftsman to prepare a Bill to enable the amendment of Finance Business Act, No. 42 of 2011
M.S. Mahadiulwewa appointed act in the post of Director General of Commerce
Wimal S.K. Liyanagama appointed Director General of Customs
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