COLOMBO. Nov 10: Sri Lanka aims to achieve eight |ier cent gross domestic product growth by pushing its trade and information technology' sei (01 and by more prudent fiscal management, the finance secretary said Thursday, says Reuters.

"Aiming for eight per cent gross domestic product growth needs containing inflation at least with our trade jwrtners. PB Jayasundera told a forum of business leaders.

"Our future challenges are working for more from the India trade agreements while looking 10 conclude a deal with Pakistan by early next year." he said

Srl Lanka also needs to (do more to) cope with the Informa* 1 tmi technology revolution, he said, adding the country needed lo move to a "service economy Irom a labour-intensive one

He did not provide a time frame k>r the growth target Srl Lankas CDP grew by 13 per cent in 1999. and the government has forecast a rise of about six per cent for this year

Sri Lanka earlier this year scaled a free-trade agreement with India which scrapped some import duties, halved fillers and left some un

Rising oil prices, increased military imports as well as tax and utility rate hikes to meet added defence expenses have forced the government to increase its inflation rate forecast to 7.0-7.5 per cent bv year-end. against a 1999 inflation rate of 4 7 per cent.

layasundera said the gov-<*rumcnt was confident of containing this year s budget JefH il al under 8.5 per cent of GDP (lespite a burden on financial miiihigement. external asst is and investment" due to the