|
|
 |
 |
 |
| Friday, 25 June 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Highest per capita income for those in Western Province By Shirajiv Sirimane People in the Western Province enjoy the highest per capita income of around US 160 while it is less than half in other provinces. This has to change and the private sector would have to play a major role in achieving this, said Chairman of the Joint Business Forum, Mahendra Amarasriya. Speaking at the annual general meeting of the International Chamber of Commerce in Sri Lanka he said that 49 percent of Gross Domestic Product is also from the western Province and this to has to be evenly distributed. One way of increasing the income of those in rural areas is to provide better technology, and provide high yielding seed varieties. "Over 48 percent of the Sri Lankan population is below the poverty line and their average income is some times under 3 US dollars per day. He said that Sri Lanka is in debt and the government income is not adequate to subsidise for oil subsidies, fertiliser subsidies, and to provide other social benefits. He said that with the rapid economic growth, China is investing heavily on infrastructure development in preparation for the Olympics and the unsettled situation in the Gulf has increased the demand for building materials. "Steel prices have gone up by 100 percent and due to environmental lobbing in Sri Lanka Sand prices too have increased," he said. He said that at present the international economic conditions are against Sri Lanka. "Sri Lanka needs a policy statement on the economy from the government," he said. He said that some of its member bodies are inactive and identified the Ratepayers Association, Telecom Users Association and Sri Lanka Arbitration Centre. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
