News
Eran submits VAT amendment Bill to restore Parliamentary powers on Public Finance
Dayasiri backs SJB move
SJB MP Eran Wickramaratne has submitted a private members Bill to amend the Value Added Tax (VAT) Act, No 14 of 2002 to transfer the powers vested in the Minister of Finance to Parliament. The new Bill proposes that any order made by the Minister of Finance come into force only upon the approval of the Regulation by Parliament.
As of now the Finance Minister has the powers to impose, remove, increase or reduce the VAT levy at his whims, via Gazette notifications overnight. The Gazette needs the Parliamentary approval only after three months. In the past, this system had paved the way for corruptions, favouring certain individuals and companies, supportive of the ruling elites. Soon after the 2019 elections, President Gotabaya Rajapaksa reduced the VAT levy from 15 % to 8% percent causing a loss of one-third of the State revenue.
Parliamentarian Dayasiri Jayaskara seconding the proposal by Eran Wickramaratne said it was an important piece of law as previously, Presidents and Finance ministers of the country made financial decisions disregarding the Parliament which has the full control over public finance under Article 148 of the Constitution. He said that this proposal restores the powers of the Parliament over public finance ensuring the Check and Balance over the acts of Executive.
The Ceylon Petroleum Corporation (CEYPETCO) has announced a reduction in the prices of Petrol 92 and Petrol 95, effective from midnight today (30).
The price of Petrol 92 has been reduced by Rs. 15 per litre, from Rs. 414 to Rs. 399 while the price of Petrol 95 Octane has been reduced by Rs. 20 per litre, from Rs. 495 to Rs. 475
There will be no change in the prices of diesel, Super Diesel and kerosene under the latest revision.
The book “Rathuwewi Mihimadala”, written based on the life story of Vasudeva Nanayakkara, Leader of the Democratic Left Front, was launched on Friday [August 28] at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo, with the participation of Prime Minister Dr. Harini Amarasuriya.
Speaking to the media afterwards about Vasudeva Nanayakkara, Prime Minister Dr. Harini Amarasuriya stated:
“Vasudeva Nanayakkara is a prominent figure in Sri Lankan politics, particularly within the left-wing political movement. There were several influential figures within the left movement, and that left-wing influence also contributed to bringing the country to where it is today. Politically, there were areas where we agreed and areas where we did not. However, I have great respect for the contribution made by Vasudeva Nanayakkara to left-wing politics. When I entered Parliament in 2020, Vasudeva Nanayakkara was also in Parliament. We sat in the same row, and we spoke about many important as well as interesting moments in his political career. I believe some of these experiences have also been included in this book.”
The event was attended by members of the Maha Sangha, Minister of Justice Harshana Nanayakkara, former President Maithripala Sirisena, former Speakers Karu Jayasuriya and Chamal Rajapaksa, as well as party members, family members and friends.
[Prime Minister’s Media Division]
Latest News
Sun directly overhead Mannar, Periyamadu, Puliyankulam, Welioya and Pulmoddai about 12.11 noon today (30)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (30) are Mannar, Periyamadu, Puliyankulam, Welioya and
Pulmoddai about 12.11 noon.
Petrol to cost less from midnight today (30)
Head teacher evacuated 900 children minutes before school washed away by Nepal floods
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“Rathuwewi Mihimadala” Book Launched with the Participation of the Prime Minister
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