Business

Sri Lanka’s State Sugar Firms Struggle with Surplus Ethanol Amid Falling Legal Alcohol Demand

  • August 22, 2024

Sri Lanka’s state-owned sugar companies are facing a significant challenge with unsold ethanol, as demand for legal alcohol has plummeted following the country’s economic crisis and recent tax increases, according to State Minister for Investment Promotion Dilum Amunugama. State-run Lanka Sugar, which operates the Sevenagala and Pelwatte companies, is now burdened with 1.3 million litres

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Economics

Sri Lanka’s Government Revenue Soars by 41% in First Half of 2024

  • August 8, 2024

Sri Lanka has seen a substantial increase in government revenue, with a 41% rise year-on-year (y-o-y) in the first six months of 2024, totaling Rs. 1,860 billion. This achievement marks the collection of 52% of the estimated revenue for the year, according to Finance State Minister Ranjith Siyambalapitiya. Speaking in Parliament on August 7, Siyambalapitiya

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