News
Remittances from expat workers increase
Remittances from expatriate Sri Lankan workers increased to USD 384.4 million in November 2022, from 355.4 million dollars in October, statistics released by the Central Bank of Sri Lanka (CBSL) on Saturday reveal.
This is the highest amount of monthly remittances since August 2021 (446.6 million dollars), according to the CBSL.In November 2021, Sri Lankan workers sent only 271.4 million dollars, the Central Bank has said.
Accordingly, the total remittances in the first 11 months of the year are 3.313 billion dollars, which is still a 35.9 percent drop compared to the same period in 2021 (5.111 billion dollars).
The CBSL has said that foreign remittances have increased steadily in the past few months due to the monetary policies and growing trust in the system.The country’s assets are at 1.804 billion dollars out of which 1.732 billion dollars are foreign currency reserves.
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
‘Dates have the highest sugar content to fight Coronavirus’
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