News
SJB demands forensic audit on loss incurred from reduction of duty on imported sugar
The Samagi Jana Balavegaya (SJB) has requested the Ministry of Finance to conduct a forensic audit on the loss incurred by the state due to reducing the import duty on sugar to Rs. 0.25 per kilo.
SJB MP Dr. Harsha de Silva urged a forensic audit to calculate the real loss since it was estimated that the state incurred a loss of Rs. 15.9 billion by what he called the strange exercise.
“The Ministry of Finance told the Parliamentary Committee on Public Accounts (COPA) this week that Rs. 15.9 billion in tax revenue has been lost”, he said.
Dr. De Silva said that the SJB had asked for a debate in Parliament on the matter.
Earlier this year, Chairman of the Committee on Public Finance Anura Priyadarshana Yapa instructed the Ministry of Finance officials to submit a report on the sugar tax revision.
In October 2020, the government reduced the import duty on a kilo of sugar from Rs. 50 to 25 cents stating that it wanted to reduce the retail price of sugar in the market.
However, sugar importers had stocked about 90,000 metric tons of sugar they had imported after paying Rs. 50 per kilo by way of import duty.
The government on 27 October increased the tax imposed on a kilo of sugar to Rs. 40. However, according to the Special commodity levy act, a levy increase come into force a month later.
Thus, the amended duty increase was not enforced between October 13 and November 13. During this period, one sugar importer was able to import 100,000 MT of sugar by paying only 25 cents as duty per kilo. Sathosa had also purchased sugar from the importer at over Rs. 125 a kilo. The Opposition alleges the importer made a significant profit at the expense of the state. (RK.)
Secretary to the President, Dr. Nandika Sanath Kumanayake, met with a delegation from the World Food Programme (WFP) at the Presidential Secretariat this morning (11).
During the meeting, the WFP representatives agreed to continue their on-going programs in Sri Lanka without disruptions.
Although the food crisis in Sri Lanka has eased to some extent, the WFP officials expressed their willingness to extend further support through new programme whenever additional needs arise.
The WFP delegation included WFP Country Director Abdur Rahim Siddiqui, the Government Partnerships Officer Musthafa Nihmath and the Gerard Rebello , WFP Sri Lanka ‘s Deputy Country Director. Additional Secretary to the President, Roshan Gamage, also attended the meeting.
News
President directs officials to provide a monthly allowance of Rs. 3,000 to Pensioners from Next Week
President Anura Kumara Dissanayake has instructed officials of the Ministry of Finance to take necessary action to provide a monthly interim allowance of Rs. 3000 to all pensioners, from next week.
After reviewing the delay in adding the Rs. 3000 allowance to the October pension, the President directed that this amount be credited to the pensioners’ accounts within the next week.
These instructions were given during a meeting held on Thursday (10) afternoon at the Presidential Secretariat with senior officials of the Ministry of Finance, chaired by President Anura Kumara Dissanayake.
Despite the circular No. 02/2024 dated 2024/08/24 issued by the Public Administration Department to grant a monthly interim allowance of Rs. 3000 to all pensioners, funds were not allocated for this purpose.
Upon reviewing the matter, President Anura Kumara Dissanayake informed the officials of the Ministry of Finance to ensure that the required funds are provided.
Considering the hardships faced by pensioners due to the non-payment of the Rs. 3000 allowance with the October pension, and their subsequent requests, the President decided to proceed with the payment from this month, despite the prevailing financial difficulties of the government.
Since the October pension has already been credited to the pensioners’ accounts, the President instructed officials to ensure that the Rs. 3000 allowance is credited to their accounts within the next week, and from next month, this allowance will be added to the monthly pension.
Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardena and several senior officials from the Ministry of Finance were present at this meeting
[PMD]
The Chinese People’s Liberation Army Navy Sail Training Warship ‘PO LANG’ which arrived in Sri Lanka on 08th October 2024, departed the island today (11th October), on successful completion of its formal visit. The Sri Lanka Navy bade customary farewell to the departing ship at the Colombo port, following naval traditions.
While the ship was in Colombo, the crew took the opportunity to explore some of the country’s tourist attractions. They also participated in various programmes designed to foster camaraderie between the two navies. Moreover, Sri Lanka Navy personnel attended briefings on the operational functions of the visiting ship.
WFP Assures Continuous Support to Sri Lanka
President directs officials to provide a monthly allowance of Rs. 3,000 to Pensioners from Next Week
Chinese People’s Liberation Army Navy Sail Training Warship ‘PO LANG’ departs Island
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