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Tuesday February 7th, 2023

Sri Lanka State Tourism Minister backs night life with with 24*7 operation of wine stores

ECONOMYNEXT – Sri Lanka’s State Tourism Minister Diana Gamage wants the island nation’s wine stores to opened all the time if the country wants to boost tourism.

Gamage has been vocal on opening up night time life to attract more tourists and boost foreign exchange revenue for the country to move out of the crisis.

“When tourists come, if all they have to do is roam around and go to sleep at 10 pm every night in front of their hotel room TV, then we will not be able to earn dollars from them,” Gamage told the parliament during the Committee Stage debate of Tourism Ministry.

“The issue with our country is, there is no place to go after 10 pm. This is a paradise. I do not know whether anyone knows the meaning of a paradise.”

“We have to keep this place open 24/7. I have spoken it about many time. Liquor is the highest tax earner in the country. In this paradise, we are closing bars after 11pm. Foreigners in hotels can’t get any alcohol if they need. Because all the places are close. We need to keep this country open 24 hours. Like Singapore and other countries. People must have to have entertainment.”

Gamage’s proposals for night life have been frowned at by some religious leaders citing that the move is against Sri Lanka’s rich and ancient culture.

“I talk about the night life, and when I talked about that earlier many criticized it and saw it as a big sin. That is ones who are incapable of understanding it,” she said.

“What we call night life is actually is a night economy. All the countries in the world have developed because of night economy. These countries get 70 percent of their income from the nigh economy. They only get 30 percent during the day time.”

“We have to develop a night economy in this country. That will earn 70 percent of the income. Only that can develop this country.”

“We can do that. And also our museum, that closes at 5 pm. In other museums earn most during night. It must be opened 24/7.  This night economy is essential for a country’s economy. People must have places t spend their money.” (Colombo/Dec02/2022)

Comments (3)

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  1. Diogenes Fernando says:

    Rich and ancient culture? Tyrant kings and ’Sri Lanka-style’ Buddhism. And we all know what that means…

  2. Aryasinghe vijaya says:

    We are proud of tyrant Kings and Sri Lankan style Buddhism. You can see the rich and ancient culture around Anuradhapura and Pollonaruwa areas.

  3. Bibby Mark says:

    If they want to make the place more attractive to tourists they should do something about the dogs. Visiting the east coast is like spending a holiday in a dog Auschwitz, half our group were in tears every time we went out.

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Comments (3)

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Your email address will not be published. Required fields are marked *

  1. Diogenes Fernando says:

    Rich and ancient culture? Tyrant kings and ’Sri Lanka-style’ Buddhism. And we all know what that means…

  2. Aryasinghe vijaya says:

    We are proud of tyrant Kings and Sri Lankan style Buddhism. You can see the rich and ancient culture around Anuradhapura and Pollonaruwa areas.

  3. Bibby Mark says:

    If they want to make the place more attractive to tourists they should do something about the dogs. Visiting the east coast is like spending a holiday in a dog Auschwitz, half our group were in tears every time we went out.

Sri Lanka Railways to seek PPPs to boost revenue streams

CURFEW RUSH: Commuters scrambling to get home after curfew was declared in Sri Lanka on March 20, 2020.

ECONOMYNEXT – Sri Lanka Railway department hopes to expand Public Private Partnerships and earn more non-passenger revenues to offset recurring operational costs, an official said.

“For the past 10 years, except the last few years, the Railway operational income only covers around 50 percent of the operational expense of the Department,” the General Manager of the Railway, D.S. Gunasinghe told EconomyNext.

“Our plan is to increase the non-passenger revenue of the Railway department.

“And we cannot expect and do not hope for money from the government.”

Sri Lanka Railways already has agreements with Prima, a food firm, and Insee Cement, which is bringing in additional income, Gunasinghe said.

“We had agreements for material transportation such as sand in the past, however it was canceled but we hope to start it again” he said.

The department will rent out its storage facilities and circuit bungalows for the tourism sector to create additional revenue streams.

Sri Lanka Railways recorded an operating loss of 10.3 billion rupees during 2021, compared to a loss of 10.1 billion rupees in 2020, the Central Bank 2021 annual report showed.

The total revenue of the SLR stood at 2.7 billion rupees, a 41.3 percent drop from a year ago.

(Colombo/ Feb 06/2023)

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Sri Lanka’s doctors distribute anti-tax hike leaflets to train commuters

ECONOMYNEXT – Doctors representing Sri Lanka’s Government Medical Officers Association (GMOA) distributed leaflets outside the Colombo Fort railway station against a progressive tax hike, threatening to address the government in a “language it speaks”.

GMOA Secretary Haritha Aluthge told reporters outside the busy Fort railway station Monday February 06 afternoon that all professional associations have collectively agreed to oppose the personal income tax hike.

“The government is taking a lethargic approach. They cannot keep doing this. They have a responsibility towards the citizens, the country and society,” said Aluthge.

The medical officer claimed that the government was acting arbitrarily (අත්තනෝමතික).

“If it cannot understand the language they’ve been speaking, if the government’s plan is to put all professionals out on the street, if it doesn’t present a solution, all professional unions have decided unanimously to address the government in a language it speaks, ,” he said.

Aluthge and other GMOA members were seen distributing leaflets to commuters leaving the railway station. Doctors in Sri Lanka in general are likely to earn higher salaries than the average train commuter, and a vast majority of Sri Lanka’s population, most of whom take public transport, don’t fall into the government’s new tax bracket. Many doctors, though certainly not all, collect substantial sums of money at the end of every month as doctor’s fees in private consultations.

About two miles away from the doctors, the Ceylon Blank Employees’ Union, too, engaged in a similar distribution leaflet campaign on Monday at the Maradana railway station. A spokesman promised “tough trade union” action if there was no solution offered by next week.

Sri Lanka’s cash-strapped government has imposed a Pay As You Earn (PAYE) tax on all Sri Lankans who earn an income above 100,000 rupees monthly, with the tax rate progressively increasing for higher earners, from 6 percent to 36 percent.

A person who paid a tax of 9,000 rupees on a 400,000 rupee monthly income will now have to pay 70,500 rupees as income tax, the latest data showed. This has triggered a growing wave of anti-government protests mostly organised by public sector trade unions and professional associations.

Even employees of Sri Lanka’s Central Bank recently joined a week-long “black protest” campaign organised by state sector unions against the sharp hike in personal income tax, even as Central Bank Governor Nandalal Weerasinghe said painful measures were needed for the country to recover from its worst currency crisis in decades.

The government, however, defends the tax hike arguing that it is starved for cash as Sri Lanka, still far from a complete recovery, is struggling to make even the most basic payments, to say nothing of the billions needed for public sector salaries.

Economists say Sri Lanka’s bloated public service is a burden for taxpayers in the best of times, and under the present circumstances, it is getting harder and harder to pay salaries and benefits.

Sri Lanka’s new tax regime has both its defenders and detractors. Critics who are opposed to progressive taxation say it serves as a disincentive to industry and capital which can otherwise be invested in growth and employment-generating business ventures. Instead, they call for a flat rate of taxation where everyone is taxed at the same rate, irrespective of income.

Others, however, contend that the new taxes only affect some 10-12 percent of the population and, given the country’s economic situation, is necessary, if not vital, at least for a year or two.

Critics of the protesting workers argue that most of the workers earn high salaries that most ordinary people can only dream of, and, they argue, though there may be some cases where breadwinners could be taxed more equitably, overall, Sri Lanka’s tax rates remain low and are not unfair.  (Colombo/Feb06/2023)

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Sri Lanka bond Yields end steady

ECONOMYNEXT – Sri Lanka’s bond yields closed steady on Monday, dealers said while a guidance peg for interbank transactions remained unchanged.

A bond maturing on 01.07.2025 closed at 32.15/30 percent, steady from Friday’s 32.05/10 percent.

A bond maturing on 01.05.2027 closed at 28.90/29.10, steady from Friday’s 28.90/20.05 percent.

The Central Bank’s guidance peg for interbank US dollar transactions appreciated by one cent to 361.96 rupees against the US dollar.

Commercial banks offered dollars for telegraphic transfers at 370.35 rupees on Monday, data showed. (Colombo/Feb 06/2023)

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