Large stocks of scrap metal are piling up in junk yards across the country as a result of the scrap metal export ban, a group of steel sector exporters said, adding that the prices of scrap metal has collapsed due to drop in demand.
British Minister for International Trade Ranil Jayawardena says he will be working closely with the Government of Sri Lanka on tearing down trade barriers, simplifying the trading relationship, and creating new, exciting openings for hardworking businesses.
Urban low and middle income families as well as rural poor households across the country have been struggling with severe economic hardships with most of them having to survive only through borrowed money after exhausting all their savings.
The Sri Lankan government has nicely balanced the Colombo port container terminal deals, satisfying the needs of regional powers India and China by allowing two companies of both those countries to expand their operations, several current foreign affairs analysts said.
In view of the high demand for premium property developments in prime locations with commercial value in Colombo and its suburbs, the Urban Development Authority (UDA) will be taking over lands in selected areas, a UDA official said.