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Committee on Ways and Means reveals traders’ profits range from Rs. 100 to Rs. 1000 per kilo from imported essential food items
A last week probe by the Committee on Ways and Means of Parliament on factors regarding the profit margins amassed by traders on imported essential food items found that there are glaring disparities between market prices and import costs while traders raking in profits ranging from Rs. 100 to Rs. 1,000 per kilo.
The committee chaired by MP Patali Champika Ranawaka has stated that consumers have been compelled to borne the brunt of inflated prices while traders have reaped substantial profits from the sale of these essential food items.
Officials from key institutions including the Central Bank of Sri Lanka, Department of Trade and Investment Policies, Sri Lanka Customs, Import and Export Control Department, Department of Census and Statistics, and the Hector Kobbekaduwa Agra-rian Research and Training Institute were questioned at this meeting, a parliament sources said.
Ranawaka instructed Sri Lanka Customs officials to furnish weekly reports pertaining to the importation of essential food items. It was disclosed that since 2018, there has been a consistent decline in tax revenues generated from imported goods, attributed to a mismatch in the Special Commodity Levy in accordance with the fluctuating value of the US dollar.
Ranawaka pointed out the necessity for formal registration of importers under category 2,525 to facilitate the collection of value-added tax (VAT) and streamline the import process under category 7,000.
Measures to recoup taxes on undue profits earned by importers from 2018 to 2023 were also mandated, with progress reports expected by month-end.
The Committee also tackled the issue of tax arrears, issuing directives to the Inland Revenue Department for swift action, including asset acquisition and legal recourse to recover Rs. 188 billion in unpaid taxes.
Additionally, measures were outlined to combat tax evasion, including the establishment of a digital platform for individuals earning over Rs. 100,000 per month.
In addition, the meeting addressed concerns regarding irregularities in granting licenses for importing electric vehicles to Sri Lankans working abroad. Pending completion of a forensic audit by the Auditor General, the committee directed the suspension of gazettes extending such licenses.
State Ministers and Members of Parliament, including Lasantha Alagiyawanna, Sisira Jayakodi, Anuradha Jayaratne, and others, were present at the committee meeting.
Indian Prime Minister Shri Narendra Modi departed today (06) from Air Force Base Anuradhapura concluding his State visit to Sri Lanka. The Indian Premier embarked on a tour to Sri Lanka at the invitation from President Anura Kumara Disanayake.
This visit underscores the enduring relationship encapsulated by the theme “Friendship of Centuries, Commitment to a Prosperous Future,” further solidifying the bonds between India and Sri Lanka.
This marks Prime Minister Modi’s fourth visit to Sri Lanka, which has further enhanced the economic, cultural, and historical relations between the two nations, while also reinforcing their multifaceted partnership. This visit by the Indian Prime Minister reinforces Sri Lanka’s important role in India’s “Neighbourhood First Policy” and ‘MAHASAGAR’ vision concerning diplomatic relations.
This state visit is anticipated to yield significant results on various collaborative initiatives, fostering a path towards mutual growth and development. The citizens of Sri Lanka will soon be able to witness the fruitful outcomes of these partnerships, and Indian Prime Minister Shri Narendra Modi’s visit will mark a significant milestone in the government’s pursuit of sustainable development focused on the needs of the people.
Accompanying Indian Prime Minister Modi were Indian External Affairs Minister Dr. S. Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and a delegation of senior officials from the Indian government.
[PMD]
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President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
The upgraded Maho–Omanthai railway line and the newly installed Maho–Anuradhapura railway signalling system were officially commissioned by Indian Prime Minister Shri Narendra Modi and President Anura Kumara Disanayake today (06)
The Prime Minister of India is currently visiting Sri Lanka at the invitation of President Anura Kumara Disanayake, reinforcing the longstanding bond encapsulated in the theme “Friendship of Centuries Commitment to a Prosperous Future” between the two nations.
Highlighting one of the key aspects of this visit, the two leaders participated in these inaugural ceremonies. The President and the Prime Minister of India jointly unveiled the commemorative plaque and commissioned the railway line and signalling system.
The upgraded Maho-Omanthai Railway Line project was carried out with funding through the Indian Credit Line, totalling an investment of US$ 91.27 million. The Maho–Anuradhapura railway signalling system, established as a result of President Disanayake’s recent visit to India, was funded by the Indian Government at a cost of USD 14.89 million.
[PMD]
Latest News
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
Indian Prime Minister Shri Narendra Modi, currently on a State visit to Sri Lanka, along with President Anura Kumara Disanayake paid homage to the sacred Jaya Sri Maha Bodhi in Anuradhapura this morning (06) and received blessings.
Following his visit to the sacred site, Prime Minister Modi proceeded to the Udamaluwa, where he met with the Chief Incumbent of the Atamasthanadhipathi and Chief Sanghanayake of Nuwarakalaviya, Most Venerable Dr. Pallegama Hemarathana Nayaka Thera, for a cordial discussion.
During the meeting, the Prime Minister shared that relics of the Buddha were discovered in excavations conducted in his home state of Gujarat during the 1960s. He further stated that he would discuss with the President of Sri Lanka the possibility of exhibiting these sacred relics in Sri Lanka.
Responding to a request made by the Atamasthanadhipathi to develop Bodh Gaya as a spiritual city, Prime Minister Modi assured that he would take the necessary steps after discussions with President Disanayake and work towards making it a reality.
The Maha Sangha, led by the Atamasthanadhipathi, chanted Seth Pirith and invoked blessings on the Indian Prime Minister.
The Indian Prime Minister also left a commemorative note in the special guest book at the site. In addition, he formally declared open the newly constructed ‘Makara Thorana’ within the Jaya Sri Maha Bodhi premises.
The occasion was also attended by Chief Incumbent of the Ruwanweli Maha Seya Temple Ven. Ethalawetunawewe Gnanathilaka Thera and other Atamasthana Viharadhipathi Theras, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath, Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, Minister of Health and Mass Media Dr. Nalinda Jayatissa, North Central Province Governor Wasantha Jinadasa, Indian High Commissioner Santosh Jha and others.
[PMD]
Indian Prime Minister Shri Narendra Modi concludes State Visit to Sri Lanka
President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
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