Govt. will take Lanka out of COVID, other shocks
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Sri Lanka, Sept. 17 -- Sri Lanka has over Rs. 10 triton of deposits idling with banks and finance companies said State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal at Softlogic Stockbrokers organised "Twenty 21 and Beyond" event.
He said if 10 % of this which is 100 billion can be ploughed back to the market it would be very productive to the economy he said. "Out of this Rs. 90 trillion is with the banking sector. He recalled that State funds such as the EPF had earlier invested only Rs. 70 billion.
The previous Yahapalana government burdened businesses by stamping huge taxes but still could not meet their tax revenue targets. He said that this government believes that taxing is not the way for...
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