Economic

Huawei, the global leading ICT solution provider, stepped up efforts and pledged support to Sri Lanka to fight against the coronavirus epidemic through a donation of a range of cutting-edge ICT solutions.

Considering the difficulties faced by some customers of financial institutions affected by the COVID-19 pandemic to obtain certain relief measures, the Central Bank of Sri Lanka has extended the deadline (30.04.2020) for submitting requests for debt moratoriums and 4% per annum refinancing facility for two months working capital, until 15 May 2020.

The Health Ministry has issued guidelines to the Building and Construction Industry in response to the COVID-19 outbreak with strict rules to be followed at worksites, in recruitment of workers and at their places of accommodation.

The Securities and Exchange Commission (SEC) has recommended to the Colombo Stock Exchange (CSE) to explore the feasibility of conduct activities digitally as well as to enable clearing and settlement electronically.

With the introduction of a new regulatory instrument Colombo stock market will be resuming trading soon after the Covid-119 situation becomes conducive for investors to step in under better sentiment and conditions, officials said.

EDB, BOI, Sri Lanka Tourism, Airport and Aviation officials to formulate new plans for post-COVID-19 growth
Implementation after discussion with Govt.

The country’s confectionery industry including bakeries is up in arms over the recent increase in the import taxes on Palm Oil, a key ingredient for their products.

Reduces from 5.4% in March but food price inflation increases

On top of the demurrage free period, Sri Lanka Ports Authority (SLPA) has extended the occupancy charges till 7 May for all ports, as a relief measure to the import trade and shipping community.

As a further cost cutting measure, largely grounded SriLankan Airlines has sent 400 contract staff on three months no-pay leave till July.

PickMe delivery drivers who had to undergo strict once a week temperature checks during the past two weeks, will now go through this exercise daily, as the number of COVID patients island-wide, are on the rise.

The deadline for submissions by COVID-19 affected businesses and individuals to avail concessions has been extended until 15 May, the Central Bank announced yesterday.

The Maximum Retail Prices (MRP) of Mysore Dhal and canned fish have been removed by the Consumer Affairs Authority (CAA).

In response to the COVID-19 outbreak in Sri Lanka, The Coca-Cola System in Sri Lanka has committed its support by pledging a contribution of Rs. 130 million to strengthen the national response of minimising the impact and to combat the spread of the COVID-19 pandemic. This pledge will be used to effectively contribute to the ongoing national COVID-19 response by extending significant support to the Ministry of Health (MoH) and to vulnerable communities.

Over 5,700 vehicles to be cleared before 30 April deadline

LONDON (Reuters): Oil rose further above $26 a barrel on Friday as OPEC and its allies embarked on record output cuts to tackle a supply glut due to the COVID-19 crisis that has been weighing on the market.

Warns novel coronavirus pandemic could trigger collapse of collective enterprise if urgent bold measures not taken

The Government has stepped up efforts to secure global support for Sri Lanka’s medium-term external debt, servicing of which will become challenging with the serious impact of COVID-19.