Treasury Secretary Dr. P.B. Jayasundera has observed that the government was able to have two fundamental achievements in the 2011 budget -registering an 8% GDP and 6% inflation. “Our Governor (of the Central Bank) is now in a position to question the Governor of England on why his country’s inflation is too high,” he said while delivering the keynote speech at the Institute of Chartered Accountants of Sri Lanka (ICASL) Annual Reports awards 2011 at the Waters Edge last week.
He noted that Sri Lanka is capable of achieving an 8 or 8% plus growth in 2012 and gaining over US$4000 per capita income by 2015/16. “The Annual Report reviews and looks beyond what has happened around you and position you felt in troubled times and good times,” Dr. Jayasundera said.
He pointed out that from this year Sri Lanka will be approaching towards becoming a US$1 billion economy.
The Treasury Secretary speaking of the import and export figures asked the business community to “seriously look at opening new opportunities” namely sports, IT, etc, as there is a need to now look at the external sector more carefully.
In a bid to become a Middle Income Country, Dr. Jayasundera noted they needed to have more risk financial products while also asking the Bank of Ceylon and People’s Bank branches to convert one of their branches in each district to a development branch with dedicated staff.
During the Annual Reports Awards 2011 Commercial Bank bagged the Gold award, the Silver was won by Union Assurance and the bronze award went to Hatton National Bank PLC.
Annual Reports Awards Committee 2011 Chairman Lasantha Wickramesinghe speaking on the occasion said this was an opportunity to recognize the best presented reports in the last financial year.
An event that has been carried out since 1964, it was pointed out that the evaluation is done following a rigorous process with the panel of judges comprising eminent personnel.
ICASL President Sujeewa Mudalige pointed out that nearly 60% of the top 50 companies listed in the Stock Exchange had at least one chartered accountant.
With the war against terror behind us, he noted that the business community was looking forward to the future with improved expectations with the North and East of the country opening up to the availability of a number of resources.
Mr. Mudalige observed that they would be capable of conducting a similar event for Annual Reports of the public sector as well in a few months next year. |
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