A ‘fair’ number of owners of land acquired by the government for road development are now being paid compensation with Treasury bills instead of cash on a directive by the President, Wasantha Karannagoda, Secretary to the Ministry of Highways and Road Development, said.
Mihin Air, Sri Lanka’s only budget airline, says it has reduced its substantial debt by 60% with income matching operational costs now and operates without new debt.
Since resuming operations 19 months ago (January 2009), the debt-ridden airline has seen turnovers rise to $2.2 million this month (so far) from $500,000 earlier, according to its CEO Kapila Chandrasena.
