Although envisaged as the means of delivering an attractive and efficient mode of public transport, Sri Lanka Railways (SLR) has incurred a financial shortfall since the mid-1900s. To overcome this financial shortfall SLR, a government department needs to adopt strategies that enhance its total revenue or reduce recurrent expenditure. Passenger revenue and freight revenue are major components of the total revenue of SLR. These are determined by fares and the volume of passenger and freight transport. This study examines the impact of government controls on railway fares on the financial shortfall of SLR. To do this, it analyses the effects of the railway passenger and freight revenue components of the financial statements from 1977 to 2018. An in-depth descriptive and graphical analysis is performed using secondary data to find the impact of these variables. The study ascertains that the long-term financial shortfall of SLR is attributable to two factors: SLR charges relatively low passenger fares charged by SLR compared with public bus transport, and it does not revise its fares in line with changes in the bus. This study recommends that decisionmakers and planners formulate a railway fare policy that is revised in line with bus fares and adopt measures to enhance the quality and level of service delivered by SLR.

The developing world witnessed the exchange rate fluctuations enormously to instability and a lack of economic confidence over the years. The relationship between exchange volatility and industrial exports in Sri Lanka is a continuing matter in economic growth and development. Many developing countries are engaging in a wide range of cross-border transactions with developed and emerging economic countries. This situation has led countries to witness exchange rate fluctuations, and the unpredictability of exchange rates affects the export earnings. The relationship between exchange rate volatility and industrial exports in Sri Lanka is a continuing matter in economic growth and development. The aim of this study is to analyze the exchange rate volatility on industrial exports in Sri Lanka from 2001 to 2018. The motivation of this study is to investigate the relationship between exchange rate volatility in industrial export earnings in Sri Lanka after implementing floating exchange rate policy. The ARDL model is employed to examine this phenomenon and the study found a positive relationship between exchange rate volatility and industrial exports in Sri Lanka in the short run and long run.