SL on threshold of achieving high economic growth - CB Governor

H.D.H Senewiratne

"Sri Lanka is now on the threshold of achieving a high economic growth. Therefore uplifting of financial reporting in business would help enhance the business confidence and transparency to attract investors into the country, Central Bank Governor Ajith Nivard Cabraal said.

He said that Sri Lanka's per capita income had presently reached US $ 2,836. To double the amount, it needs to be increased with sound economic activities. The stage has now been is set to expedite it.

Therefore, having a good fiancial reporting system had paved the way to acheive this objective," Cabraal said at the 48th Annual Report Awards which was held at the Waters Edge.

At the event, John Keells Holdings became the overall winners for their excellence in Annual Financial Reporting. The event was organised by the the Institue of Chartered Accountants of Sri Lanka.

Cabraal said that to take Sri Lanka's per capita income up to US$ 4000 and a US $ one billion economy in the next couple of years, we have to promote good governance, transpercy and accountability in business, which could be considered as a top priority.

CA President Sujeewa Rajapaksa, said that transparency and accountability of companies would help to move business into positive directions.