In its over-enthusiasm to attract more Indian tourists and build the Sri Lankan image as a major tourist destination following the end of the conflict, Sri Lanka spent a total of Rs 1.1 billion Sri Lanka rupees to host last week’s International Indian Film Academy (IIFA) awards in Colombo, of which over Rs 850 million has been provided by the Treasury while the balance came from sponsors, according to figures compiled by the Business Times (BT).
The Board of Investments (BOI) is reviewing its investment agreements which it inked during the last few years and is also planning to transfer some Rs 2 billion of its reserves to the Treasury, informed sources said.
