Tag: Sri

SOEs reform in Sri Lanka: An enhancement proposal | Times Online

By Prasanna Athukorala

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The performance and future of Sri Lanka’s state owned enterprises (SOEs) continues to be a subject of public conversation. The ‘State Enterprises Management Policy’ described in the SLPP Manifesto (Chapter 2, page 08) for instance, pledges to “…develop State Enterprises and to make them profitable” and further to “…ensure that all State Enterprises are free from political interference”. Both the acknowledgement of the shortcomings and the intention to effect reforms are welcome.

Mr. Prasanna Athukorala

However, the burning question is, will the reforms be meaningful enough? This article will attempt to explore ways to ensure the required reforms are effective, permanent and become a landmark turning point in the management of public finances. The proposals outlined below build on the State Enterprises Management Policy of the SLPP Manifesto and seek to enhance them further. The writer proposes that a new legal entity, encompassing global

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Mastercard (MA) to Spur Digital Transactions in Sri Lanka

Mastercard Incorporated MA recently extended its alliance with Central Bank of Sri Lanka (CBSL) in a bid to accelerate digital transactions across Sri Lanka. A case in point is Mastercard’s extension of support to the ‘Cash Wade’ campaign rolled out by CBSL in March. Notably, shares of Mastercard gained 1.1% in the last day’s trading as of Sep 24.

In addition to supporting the campaign that demonstrates the advantages of digital transactions over physical handling of cash, Mastercard has commenced another initiative for backing consumers and businesses across Sri Lanka in adopting digital transactions.

It has rolled out a cashback rewards promotion, which can be availed at the time of utility bill payments. Payments of INR 1,000 and above to selected utility service providers made by cardholders will be entitled to a cashback benefit of INR 250. To name a few, Ceylon Electricity Board (CEB) and Sri Lanka Telecom are

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