GSP + gains won’t impact Sri Lanka’s growth on a major scale this year but prospects in the long term are positive, says Fitch Ratings.
“There won’t be a major pickup in growth from GSP +,” Sagarika Chandra, Associate Director in Fitch’s Sovereign Ratings Team told reporters on Wednesday in Colombo. She said that Fitch's forecasts are based on demand from the European Union (EU). "We are also not taking a strong position on the GSP+ gains as Sri Lanka also has to compete with other countries," Ms. Chandra said noting that owing to adjustments that Brexit, United Kingdom's (the largest apparel market for the country) withdrawal from the European Union has to still make, factoring GSP+ gains for Sri Lanka is too early. (DE)
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Cabinet has approved the appointment of Commodore (retired) M.B.N.A. Premaratne of the Sri Lanka Navy, as the new Commissioner General of Excise.
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