New AAT President

The Association of Accounting Technicians of Sri Lanka (AATSL) elected H. M. Hennayake Bandara as its President for 2008 and 2009 at the Council Meeting held on January 31, 2008. Bandara took over the reigns at AATSL from Lal Nanayakkara.

Bandara has served the AAT Council for the past 10 years and was elected as Secretary in 2004 and Vice President in 2006.

He is also a Council Member of the Institute of Chartered Accountants of Sri Lanka and the Sri Lanka Institute of Advanced Technological Education. He has over 25 years experience in industry and commerce and is the Deputy General Manager (Finance, Planning and Asset Management) of the National Savings Bank (NSB).

#########################

Demand for oil shoots coconut prices

In response to the statement made to Daily News of January 15 by the Chairman of the Coconut Development Authority (CDA) we are pleased to note the Coconut oil industry had got activated.

One of the main reasons for price increase of fresh nuts is the drop in coconut production.

According to the data available the crop harvest from October to December 2007 has dropped to about 7.5% to 10% in comparison to last year same period, the Coconut Growers' Association of Sri Lanka said.

"In order to keep the coconut oil industry alive, the CDA should have got activated and done the ground work in August '07 so that we could have imported copra of accepted standard in November/December '07.

It is unfortunate that CDA got into action to import copra only in October/November '07 and as such there was hardly any time to meet the objective.

The Coconut Research Institute (CRI) should be commended for maintaining the stand to import copra of good quality as it is necessary that we do not allow any pests and disease to enter our country. The coconut harvest will increase from March '08 and the situation will improve in the coming months,' the Association said.