The Public Enterprises Reform Commission (PERC) was ordered to close after ‘top officials’ were angered by a sensitive PERC document on the SLT-Maxis deal leaking to newspapers, The Sunday Times FT reliably learns.

Sri Lanka Telecom (SLT) is yet to sign a Board of Investment (BOI) agreement to import duty free telephone handsets while waiting for the particular regulation to be gazetted, according to BOI sources.

Merbok Hilier Berhad, the BOI approved Malaysian company involved in the production of Medium Density Fiber wood(MDF), is continuing with business as usual despite being embroiled in legal battles and arbitration with the BOI which is disputing certain terms and conditions of its agreement.

Sri Lanka’s garment industry is trying to use newly proposed legalisation in the US to get duty cuts to export to the US. Previously, to hold US market share and protect thousands of garment factory jobs, Sri Lanka considered a free trade agreement (FTA) with the US. However, this time the garment industry is trying a different tack. Instead of asking for a FTA the industry is looking to capitalise on proposed new laws in the US itself, supported by ethical manufacturing practices in Sri Lanka. In June, industry representatives visited Washington to discuss these possibilities with US business and political representatives.