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SLCS celebrates 45 years

The Sri Lanka Chamber of Small Industry celebrates its 45th anniversary at the Waters Edge, Battaramulla on November 24 under the patronage of the President of the Chamber, Aloy Jayawardane. The chief guest will be Prime Minister Ratnasiri Wickramanayake.

On April 6 1963, few reputed business people in Sri Lanka got-to-gather and formed a Business Association known as the All Ceylon Small Industries Association. The first meeting of the Association was held at the Dawasa Newspaper Office under the patronage of D.B. Dhanapala, Chief Editor of Dawasa paper. This association which was the foundation to the Sri Lanka Chamber of Small Industries started only with 27 members.

A reputed businessman in Sri Lanka, Albert Edirisinghe was the first elected President of All Ceylon Small Industries Association.

After smooth development of this association in mid 1974 the Chamber, re-named this Association as Sri Lanka Chamber of Small Industry. In 1981, the Chamber was incorporated by an Act of Parliament and it was initiated early as 1976 but was realised after 6 years.

The operation of Chamber started in a very small way with various difficulties.

The first council meeting was held at a very small place i.e. on the first floor of Porolis Fernando Building in Pettah and subsequently moved into Bank of Ceylon Building in Fort and later to occupy part of the Maradana showrooms of Albert Edirisinghe. However, later the Office moved to Y.M.B.A. Building Colombo to locate its present office.

The objective of the establishment of the Sri Lanka Chamber of Small Industries is to develop and promote local industrialists into local and international market by developing their entrepreneurships. While developing the business community, Chamber always gave high priority to contribute more professional to develop Sri Lankan economy.

Panel discussion on global economic crisis

The Management Club (TMC) is organising another in their series of evening meetings for members and guests at Galle Face Hotel on Thursday, November 27, in association with the Forum of Chartered Institutes on the Impact of the global economic crisis on Sri Lanka.

Titled ‘Staying afloat in a turbulent global economy’ - this event will take the form of a panel discussion where leading business personalities, CEO/Director Union Assurance PLC, Marina Tharmaratnam, Lead Economist, Lirne Asia, Dr Harsha de Silva, and Chairman Development Finance Corporation and DFCC Vardhana Bank Rajan Brito, will address this issue with International Management Consultant Ranel T. Wijesinha playing the important role of the moderator for the evening.

TMC hopes that a majority of their members as well as those affiliated to FCI will make the best use of this opportunity to reflect upon the global crisis that looms ahead of us and to have a fruitful discussion with the eminent panellists on the way forward for success amidst any setbacks.

The event as usual will also provide the opportunity for participants to interact with many others in different business spheres to share and gain from their experiences.

Tax exemption on providing services lauded

Lumbini Edirisinghe

Sri Lankan professionals who provide services and partnerships out side Sri Lanka will enjoy a 20 per cent tax exemption and it is a commendable endeavour, Commissioner Inland Revenue (Tax Policy and Ratings). P.B.A. Seneviratne said.

“The maximum income tax rate applicable to employment income of any employee providing professional services to any person or partnership rendering professional services to a person or partnership outside Sri Lanka is applicable,” Seneviratne said at a post budget seminar, organised by the Federation of Chamber of Commerce and Industries on Monday.

“Therefore any payment in foreign currency for such professional services and partnerships will enjoy the 20 per cent exemption for them. This would help to promote Sri Lankan professionals to work overseas, Seneviratne said.

He said the primary task of the budget is to secure revenue for the Government. Therefore, a quality tax structure is simple, flexible, stable and efficient. “There are five ways of taxation. Those are income tax, taxes on property, taxes on domestic goods and services, taxes on international trade and other including Economic Services Charge (ESC), share transaction levy, betting and gaming levy, tourism and development levy.

Cess has been imposed or increased on an advalorem basis or percentage of value basis on sixteen items.

Wheat flour, produce similar to local agricultural products such as black gram, karukkan etc., fruits and vegetables, salt, paper, polythene and plastic, tea, rubber latex, maize and animal feed, furniture, footwear, hand bags and other leather goods.

Exemptions have been granted for tea bags and tea packets (packaging material). “Debits tax has no change and every manufacturer will be entitled to credit for the levy paid on materials,” Senevirathne added.

Changes in the rates of Excise Duty payable under the excise took effect from November 7, 2008 by Gazette Notification.

ETI expands to Tissamaharama

Edirisinghe Trust Investments Ltd (ETI) widened its network of Pawning and Gold Sales Centres with the opening of its 33rd Pawning Centre at Tissamaharama recently. This is also the 18th Gold Sales Centre of ETI, offering its products and services at more locations for the convenience of its customers. These new centres are linked to the Head Office, all Pawning and Gold Sales Centres and branches across the country and facilitate on line real time transactions.

The Chairperson of EAP Consolidated Soma Edirisinghe, Executive Director ETI Nalaka Edirisinghe and the Chief Executive Officer ETI Mahendra de Silva at the opening of the new Pawning and Gold Sales Centre.

Sandun Kumarasiri, Assistant General Manager Pawning and Gold Sales and several senior officials of Edirisinghe Trust Investments Ltd were present at this occasion.

SLT goes green with Api Wawamu - Rata Nagamu

The country’s communication giant, Sri Lanka Telecom is spearheading an agricultural initiative to support the Government’s Api Wawamu Rata Nagamu (Let us grow more food to develop the nation) programme.

This programme is organised by the Facility Management Division of SLT with volunteer support from the staff at SLT Workshop. The official ceremony was held at the SLT premises at Welikada, where the crops will be grown and harvested.

Chief Administration Officer, Priyantha Perera, Chief Business Development Officer Laxman Joseph, and General Manager/Facility Management Mangala Wijeratne, were among the distinguished guests at the event representing the organising committee.

Speaking at the official ceremony, Chief Guest Chairperson of SLT, Leisha de Silva Chandrasena, said, “This kind of programme is designed to send a strong signal to the public and private sector organisations, on how companies could incorporate social responsibility programmes of this nature into their corporate structure and support the country to move forward to progress.

Our aim is to expand the ‘Api Wawamu Rata Nagamu’ programme to our regional offices, creating an eco-friendly initiative which is part of our CSR strategy, in addition to benefiting the society as a whole.”

As socially responsible company, SLT has taken the appropriate steps to carry out the onus of contributing to the Api Wawamu Rata Nagamu drive, through a simple yet revolutionary initiative launched by the members of the SLT staff.

This will help to develop the local agriculture sector by encouraging companies to initiate in-house, programmes that will go a long way to benefit both the farmer and the consumer. The Government is launching this initiative with the long term vision of eventually helping to stop the import of food items that can be grown locally.

The country expends revenue from its valuable hard earned foreign exchange to import rice, potatoes, onions, fruits and vegetables that can be locally sourced.

Thus, this initiative would save valuable foreign exchange and give fresh impetus to the local agriculture sector.