Rural development
Due to the shortcomings such as coordinating weaknesses and inclusion of tasks in a certain project in the scope of another project have occurred in implementation of rural infrastructure projects by various ministries, the cabinet of Ministers last week approved a proposal made by Prime Minister Ranil Wickremesinghe to establish a steering committee to implement an integrated rural development mechanism. The new steering committee is comprised Secretaries or their representatives of Ministries of National Policies and Economic Affairs, Finance, Home Affairs, Rural Economics and Provincial Councils and Local Government.

Export proceeds
The government last week relaxed by 30 days a newly imposed exchange control that forced exporters to remit payments received for exports within 90 days from the exportation according to the provisions of the Exchange Control Act. Accordingly, Finance Minister Ravi Karunanayake’s proposal to extend the relevant period as 120 days with effect from 01 August 2016 and to provide a relief period of 30 days before taking legal action after the expiration of 120 days was approved by the Cabinet of Ministers.

Best corporate citizen
The Ceylon Chamber of Commerce is calling applications from corporate firms to compete in the “Best Corporate Citizen Sustainability Award 2016”, an annual competition which recognises the corporate sustainability champions in Sri Lanka.

The competition, which commenced 12 years ago, is aimed at encouraging the corporate sector to adopt best sustainability practices. The Chamber has lined up a galaxy of awards to recognize the best performers in corporate sustainability initiatives in Sri Lanka, ranging from the Best Corporate Citizen Sustainability Award 2016, Top ten corporates, Category awards, sector awards to top performers for key sectors of the economy and The Best Presented Application.

Socio-economic data
The “Economic and Social Statistics of Sri Lanka – 2016” an annual publication of the Central Bank of Sri Lanka, is now available for public access. The publication contains economic and social indicators of Sri Lanka in the areas of Gross Domestic Product (GDP), agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, labour force, transportation, education, health, telecommunication services, population, climate and selected information on economic and social indicators of other countries.

This publication can be purchased in three languages (English, Sinhala and Tamil) from the Sales and Distribution Counters of the Central Bank and can also be downloaded from the Central Bank official website