Sri Lanka needs to move forward – Cabraal

A top Central Banker has urged the ‘captains of industry’ to move forward as a cohesive unit in a bid to step up the country's economic wheels.

“Our per capita income has risen by 60 percent as at 2007 end. Therefore we are a middle income country and we have sufficient momentum to move forward,” Ajith Cabraal, Governor Central Bank said addressing a gathering at the induction of the 19th President of the Institute of Chartered Accountants of Sri Lanka (ICASL).

He noted that the country needs to double its per capita income within the next seven to eight years. He called the ICASL to set out in the East to attract more young people from that area into the accounting profession.

Nishan Fernando was inducted as the 19th ICASL President. Fernando, who served in the ICASL Council from 2000, was elected Vice President in December 2005 and subsequently President in December 2007.

Currently the Group Chief Financial Officer of ODEL (Pvt) Ltd, he holds Fellowships of both the Institute of Chartered Accountants Sri Lanka and the Chartered Institute of Management Accountants ( UK ), in addition to an MBA from the Post Graduate Institute of Management (PIM) of the University of Sri Jayawardenapura . He is an old boy of Prince of Wales College and had articled at BR de Silva & Co.