News
Loss due to travel restrictions surpasses projected cost of Ruwanpura Expressway phase 1
by Sanath Nanayakkare
State Minister Ajith Nivard Cabraal yesterday said travel restrictions from May 14 to 17 had cost the country as much as Rs. 60 billion.
This amount is higher than the Ruwanpura Expressway’s 24.3 km Phase-1 segment from Kahathuduwa to Ingiriya being constructed by Maga Engineering. The cost of this phase is Rs. 54.7 billion, according to the Prime Minister’s Office.
Minister Cabraal said the daily loss to the country’s Gross Domestic Product (GDP) due to the travel restrictions was over Rs. 15 billion.
“If the country is closed for 10 days, the loss to GDP will be Rs.150 billion, and it is 1% of the GDP. The total value of the country’s GDP is Rs. 1.5 trillion.
However, since certain sectors of the economy were active at the time despite the travel restrictions, the daily loss was around Rs. 15 billion,” Minister Cabraal said.
Meanwhile, the state minister said in parliament on Tuesday that Sri Lanka had spent Rs. 138 billion on combating the COVID-19 pandemic and for relief measures for the public as well as affected state owned enterprises since March 2020.
The Cabinet of Ministers approved the proposal presented by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to instruct the legal draftsman to prepare a bill to amend the Employees’ Trust Provident Fund Act No. 46 of 1980 enabling to provide health insurance similar to Agrahara health insurance to private sector employees.
News
Cabinet nod for MOU between the Democratic Socialist Republic of Sri Lanka and the Republic of Maldives on Cultural Cooperation
The Cabinet of Ministers approved the proposal presented by the Minister of Buddha Sasana, Religious and Cultural affairs to sign a cultural cooperation agreement between the Democratic Socialist Republic of Sri Lanka and the Maldives. (The draft agreement has received the clearance of the Attorney General and the approval of the Ministry of Foreign Affairs).
Mrs. Eleonora Dimitrova, Bulgaria’s Ambassador to Sri Lanka, met President Ranil Wickremesinghe at the Presidential Secretariat on Monday (06), before departing for her home country upon completing her tenure in Sri Lanka.
BP sees biggest profit in 114-year history after oil and gas prices soar
Employees’ Trust Fund Act No. 46 of 1980 to be amended
Cabinet nod for MOU between the Democratic Socialist Republic of Sri Lanka and the Republic of Maldives on Cultural Cooperation
-
News6 days agoNPP for implementation of 13A, says Harini
-
News7 days ago
Ex-diplomat alleges Australian aid project sabotaged, points finger at Medical Supplies Division
-
Midweek Review7 days ago
GR’s exit and developing crisis: Different interpretations
-
Breaking News5 days ago
President Ranil Wickremasinghe calls upon chief prelates of Asgiriya and Malwatta chapters
-
News6 days ago
Nuland accuses China of failing to help SL with ‘credible and specific assurances’ acceptable to IMF
-
News7 days ago
Full implementation of 13A: NFF vows to torpedo Ranil’s move, asks Dinesh, Mahinda to disclose their stance
-
Business5 days ago
Dialog Enterprise partners with Fortinet to launch Next-Generation Firewall as a Service in Sri Lanka
-
Editorial6 days ago
When ambition overtakes reality
