14.01 PM
The President concludes the second reading of the Interim Budget 2022 by once again inviting all political parties to work together to form an All-Party Government.
14.00 PM :
President Ranil Wickremesinghe says he is confident of achieving a primary surplus in 2024.
By the time Sri Lanka celebrates its 100th year of independence, it should be a fully developed nation, the President said.
13.59 PM :
Tax concessions are granted for locally assembled electric bicycles with at least 50% local value addition.
Private funds for upgrading train services. Tenders are to be called shortly with the Kelani Valley railway line as the pilot project.
Special train services to transport upcountry fruits and vegetables.
13.57 PM:
More regional trade agreements.
Proposes to establish a Bureau to act as a coordination center to seek the assistance of Sri Lankans living overseas. A fund will be set up for this purpose.
13. 55 PM:
Religious, and cultural events are to be held to attract tourists. High-end tourists are to be attracted with improved services. For this purpose, a 5-member committee has been appointed.
13.54 PM:
Rs.200 million is to be allocated to improve the local dairy industry.
Rs. 680 million owed by farmers towards the state banking sector to be waived off excluding interest.
A National Food Security programme is to be introduced.
Need to find a greater market share for Sri Lanka’s agricultural products overseas.
State land to be used for agriculture. The unemployed will be deployed in these lands.
13.50 PM :
The government is to amend regulations to encourage foreign universities to open branches in Sri Lanka.
13.48 PM :
A branch of General Sir John Kotelawala Defence University has been proposed to be established in Kurunegala.
13.46 PM:
Relief will be provided to the fishing and estate communities that have been affected by the Kerosene price hike.
13.44 PM:
61,000 low-income families will be given Rs. 10,000 monthly for a period of 4 months.
13. 42 PM :
The government will deploy US aid of $25 million to alleviate the gas shortage.
13.41 PM :
Proposes to issue 20% stake of State-Owned Banks (Bank of Ceylon & People’s Bank) to employees and depositors.
13.38 PM :
Expectant women to be awarded Rs.2,500 in addition to the Rs.20,000 that is currently being granted.
President Ranil Wickremesinghe proposes to increase allowances given to Samurdhi beneficiaries and elderly and disabled persons by Rs.5,000 to Rs.7,500.
13.35 PM :
Proposed to reactivate the Statement of Corporate Intent (SCI) for 50 State-Owned Enterprises to monitor SOEs. This will not include the Ceylon Electricity Board, Ceylon Petroleum Corporation, and SriLankan Airlines.
13.33 PM
Expect the price of fertilizer to be reduced by the Maha season.
13.28 PM:
Subsidies will be targeted and will be deposited to beneficiaries’ bank accounts directly.
There are 61,000 families without food security in the country.
13.27 PM :
A national debt management agency is to be set up.
A new Central Bank Act is to be implemented.
New bankrupty laws are to be introduced.
13.25 PM:
Separate Unit for the restructuring of State-Owned Enterprises. Rs. 200 million has been allocated for the project.
13.20 PM :
Only electric vehicles are to be purchased for the use of state services.
13.19 PM :
Suggest all citizens above 18 years to register in the inland revenue department in a move to strengthen the tax regime.
13.15 PM :
Education, Health, digitalization, public sector, and social security will be given priority under capital expenditure.
Rs.300 billion allocated for poverty alleviation.
13.12 PM:
The retirement age of government and semi-government sector employees is to be reduced to 60 years.
All employees who have served up to the age of 60 should retire by 31 December 2022.
5 years of no pay leave for those in the state sector who want to work overseas.
13.10 PM :
The government expects the interest rates to reduce to medium levels.
From the 1st of September 2022, Value Added Tax (VAT) will be increased to 15% from the current 12%.
the government will reduce money printing and increase revenue streams from October 1.
13.07 PM:
The President says IMF discussions are successful and have reached the final stages.
13.05 PM :
President says the country is facing an economic crisis due to the actions of certain individuals for their personal benefits.
“The main reason for the economic collapse is due to not working in unity but with the political slogan ‘their own agenda’,” he said.
13.02 PM :
The second reading of the Interim Budget (Appropriation (Amendment) Bill) 2022 was presented to Parliament today.
The Appropriation (Amendment) Bill was presented by President Ranil Wickremesinghe in his capacity as the Finance Minister of Sri Lanka.
This is the first budget to be presented by President Ranil Wickremesinghe after being elected as the Head of State.
