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Part 5: Errors of Judgement, IMF, and Potential Solutions to Avoid Bankruptcy -A candid study and an action plan Economic and social development for Sri Lanka – By Professor Sunil J. Wimalawansa Consequences of IMF loans: Under IMF-imposed policies, Sri Lanka has witnessed the dramatic deterioration of many local industries.  Sri Lanka had sold off its profitable public sector enterprises such as the Tire Corporation, Sugar Corporation, Milk-food Corporation, Air Lanka (which used to be Sri Lanka’s national airline), Ceylon Transport Board, and textile factories at Tulhiriya and Veyangoda.  Due to multiple reasons, the partnership of Air Lanka, Sri Lanka’s national airline with Emirates, miserably failed.  It did not economically affect Emirates, but Sri Lankan airline went down the drain—our assets. It has been reported that these state-owned enterprises were sold to the local and foreign private sectors for a fraction of their value based on commissions earned.  Subsequently, in ...

May 28, 2023 Posted by In Articles Tagged , , , , , , , ,
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RIP CORNEL PERERA Photo Source:scontent.net The dynamic founder of the first ever Chain of Supermarkets in Sri Lanka, Cornel’s Supermarkets and the entrepreneur who initiated and built The Hilton Colombo and a great personality is no more. His funeral takes place tomorrow Monday the 25th of April 2022 as per the information I have leaving Raymond’s during the late morning or the early afternoon. Please pass on the information to whoever may have known him personally and who would have benefitted from his business endeavours and benovalence. Milinda Moragoda, Minister of Tourism, has appointed Cornel Perera as Chairman of the Sri Lanka Institute of Tourism & Hotel Management (SLITHM), to succeed Bernard Goonathilake. His achievements include being Founder-Chairman of the Hilton Colombo; bailing-out the Grand Hotel – Nuwara Eliya, at President Jayawardene’s request; arranging Air Lanka flights to Saudi Arabia; and successfully implementing the World Bank-assisted conversion of the National ...

Apr 25, 2022 Posted by In Articles Tagged , , ,
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Air Ceylon our foundation in the sky   Aviation in Sri Lanka began in the year 1911, Bleriot Monoplane was the first Aircraft to arrive in Srilanka. The first flight in the skies of Srilanka was in the early morning of 7th Dec 1912, when two Frenchmen took off in a Bleriot aircraft, fly and land safely at the Race course grounds. The first International flight to Srilanka, a De Havilland Puss moth arrived from Bombay on 7th May 1931. Ratmalana Airport was built in 1935, formal opening was in 1938. .Modern   International Airport at Katunayake was build in the  year 1967 and opened for International operation in the year 1968, which is now  known as B.I.A(Bandaranayke International Airport) Air Ceylon was established in the year 1947 as State owned flag carrier, the inaugural flight of Air Ceylon took place on 10th Dec 1947 from Ratmalana to Kankasanturai with 16 ...

Jun 5, 2021 Posted by In Articles Tagged , , , ,
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