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Shelved Tobacco Taxation Formula must be implemented -NATA
Govt. would have received an additional 45 billion rupees in 2023 if TTF was implemented- Researcher
Text and picture by PRIYAN DE SILVA
Chairman of the National Authority on Tobacco and Alcohol, Prof. Samadhi Rajapaksa said that the Tobacco Taxation Formula (TTF) developed by NATA in collaboration with the World Health Organisation (WHO) in 2021 and was shelved by the then Minister of Finance must be implemented.
Prof. Rajapaksa said that the price of Tobacco has to be increased according to a scientifically explainable transparent formula and not determined by law makers whenever they please. He reiterated that the TTF is the single most effective measure of Tobacco control.
The NATA Chairman said that businessmen who had close contacts with top lawmakers earned profits to the tune of millions of rupees each time cigarette prices were increased. He said a politically connected businessman who had prior knowledge of a three-rupee increase in the cigarette prices had obtained Rs. 384 million from a state bank and purchased cigarettes.
The NAT Chief said that the World Health Organisation had provided the financial resources for the preparation of the TTF and it had taken one year for NATA together with experts from the University of Cape Town and WHO to do so. He added that when developing the TTF, the present price of a cigarette, the cigarette tax percentage, the proposed price for the next years, percentage of inflation and GDP had been taken into consideration.
When the TTF was presented to the Cabinet of ministers it got the nod from all except the Minister of Finance, who shelved it.A research conducted by Verite Research estimates that the government would have received an added revenue of 45 billion rupees in 2023 if the TTF had been implemented.
News
“Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” by Mahinda Siriwardana presented to the President
The book “Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” ,authored by Secretary to the Ministry of Finance, Mr. Mahinda Siriwardana, was officially launched this morning (08) at the Galle Face Hotel, Colombo, with the participation of President Anura Kumara Disanayake.
The first copy of the publication was formally presented to President Disanayake by Mr. Siriwardana during the event.
It has been reported that former State Minister Sivanesathurai Chandrakanthan alias ‘Pilleyan’ has been arrested by the Criminal Investigation Department (CID).
A meeting between President Anura Kumara Disanayake and senior officials of SriLankan Airlines was held this afternoon (April 8) at the Presidential Secretariat.
The discussions mainly focused on proposals to transform SriLankan Airlines into a more profitable state-owned enterprise. Special attention was also given to possible short-term and long-term solutions for the airline’s debt management.
The talks further explored new investment opportunities for the airline. The President instructed the officials to take all necessary steps to transform SriLankan Airlines into a profit-making entity.
Although the airline has recorded operational profits, due to past mismanagement and poor decision-making, it remains one of the leading loss-making state enterprises. The current government has decided to reverse the previous administration’s decision to privatize the airline. Instead, it plans to continue operating it as the national carrier while introducing a new management structure to ensure its profitability moving forward.
Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, President’s Senior Advisor Duminda Hulangamuwa, Chairman of SriLankan Airlines Sarath Ganegoda along with several senior officials of SriLankan Airlines, were present at the meeting.
“Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” by Mahinda Siriwardana presented to the President
Former state minister arrested by CID
President meets with senior officials of SriLankan Airlines
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