News
SLPP concerned about revenue proposals but won’t rock the boat
Final vote on Budget 2024 today:
Namal R. to skip vote
By Shamindra Ferdinando
The ruling Sri Lanka Podujana Peramuna (SLPP) on Monday (11) decided to vote for the Third Reading of the Appropriation Bill (2024) today (13).
The decision was taken at a meeting chaired by Premier Gunawardena, who is also the leader of the MEP. Gunawardena emphasised the responsibility on the SLPP to thwart Opposition’s attempts to dislodge the government ahead of the releasing of the second tranche of the USD 2.9 bn IMF bailout.
The warning was issued at a group meeting at the Committee Room 01. SLPP leader Mahinda Rajapaksa, Chief Government Whip Prasanna Ranatunga and Leader of the House Susil Premjayantha were present at the meeting held before the commencement of the day’s proceedings. State Finance Ministers Ranjith Siyambalapitiya and Shehan Semasinghe, too, attended the meeting.
Political sources said that Premier Gunawardena had explained the need to foil Opposition plans after Rear Admiral (retd.) Sarath Weerasekera strongly criticised increase of the Value-Added Tax (VAT) from 15% to 18% and imposition of VAT on 97 out of the 138 goods that were previously exempted from the tax. The MEP group in Parliament consists of three lawmakers, including the Premier.
In response to The Island query, SLPP General Secretary Sagara Kariyawasam said that the party would vote yes at the final vote though it didn’t agree with revenue proposals 100%. Attorney-at-Law Kariyawasam said that defeating of the 2024 Budget would cause economic and political chaos.
The SLPP announced the controversial decision as the party prepared to hold its second convention on Friday, December 15, at the Sugathadasa Indoor Stadium.
During the group meeting at Committee Room 1, former Public Security Minister Weerasekera pointed out the failure on the part of successive governments to collect taxes, penalties and interest amounting to Rs 943 bn as disclosed recently by the relevant parliamentary watchdog.
Expressing serious concern over major taxpayers’ taking advantage of the legal process to hold up the entire process, lawmaker Weerasekera pointed out as much as Rs 35 bn in VAT hadn’t been paid to the government. The Colombo District MP also questioned the failure on the part of the relevant authorities to collect VAT received by traders and staggering Rs 55 billion dud cheques issued to the government.
MP Weerasekera said that instead of going flat out to collect money owed to the government, taxes had been raised, new taxes introduced and the VAT imposed on items that were previously exempted from it. The ex-Minister stressed that the government strategy was not fair to the people struggling to make ends meet as imposition of further indirect taxes could be quite devastating.
The Second Reading of the Appropriation Bill for the year 2024 was passed in the Parliament on Nov 21 by a majority of 45 votes. Altogether 122 MPs voted for the Bill and 77 voted against it.
President Ranil Wickremesinghe, in his capacity as the Finance Minister presented the budget on Nov 13.
Political sources said that the UNP and SLPP at the highest level agreed in principle that they would work together, regardless of differences. SLPP MP Namal Rajapaksa, having skipped the vote on VAT on Monday, was most likely to refrain from voting today, sources said, adding that there was consensus between the two sides that the current alliance should remain.
The SLPP elected UNP leader Ranil Wickremesinghe in July last year to complete the remainder of President Gotabaya Rajapaksa’s five-year term.
The next presidential election has to be conducted and a new president elected by Nov 2024.
Latest News
Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
The Natural Hazards Early Warning Centre has issued an Advisory for Severe Lightning for the Sabaragamuwa, Central and Uva provinces and in Hambanthota district.
The advisory issued at 02.00 p.m. today [07 April 2025] is valid for the period until 11.00 p.m. 07 April 2025
The public are warned that thundershowers accompanied by severe lightning are likely to occur at several places in for Sabaragamuwa, Central and Uva provinces and in Hambantota district. There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.
ACTION REQUIRED:
The Department of Meteorology advises that people should:
Seek shelter, preferably indoors and never under trees.
• Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
• Avoid using wired telephones and connected electric appliances during thunderstorms.
• Avoid using open vehicles, such as bicycles, tractors and boats etc.
• Beware of fallen trees and power lines.
• For emergency assistance contact the local disaster management authorities.
The report of the “Census of Population and Housing 2024,” conducted by the Department of Census and Statistics, was officially handed over to President Anura Kumara Disanayake this morning (07) at the Presidential Secretariat.
This preliminary report has been prepared based on island wide data collected between October and December 2024.
The report provides details on Sri Lanka’s population, its growth and the distribution of the population across districts.
The information gathered through the census is vital not only for the government but also for other institutions in formulating policies and development plans essential for the country’s progress. Significantly, for the first time in the history of census-collecting in Sri Lanka, data collection was carried out using tablet computers and user-friendly mobile devices.
The event was attended by Deputy Minister of Finance & Planning, Harshana Suriyapperuma, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardana, Director General of the Department of Census and Statistics D.D.G.A. Senevirathne and several other officials.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
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