The Committee on Public Finance (COPF) has expressed displeasure over the failure of the Ministry of Finance to initiate action to recover the loss incurred by the Sugar Tax Scam in Sri Lanka.
According to a statement from the Parliament, the Finance Ministry was questioned over the matter by the COPF during a meeting held under the Chairmanship of the protem Chair MP Patali Champika Ranawaka last week (Aug.08).
The Committee questioned why the Inland Revenue Department in consultation with the Attorney General has not yet taken action in this regard.
Accordingly, the officials present in representation of the Ministry of Finance stated that they have been updating the Committee on Public Accounts regarding the progress and that the Attorney General’s Department has advised that as there was a case pending in this regard, proceeding forth would follow post the determination.
The Committee inquired whether action could be instituted if the relevant parties withdraw the pending case in court. Accordingly, the Committee requested the Attorney General’s Department to have the Committee informed regarding the stated concern with immediate effect.
The Committee also raised concerns over the failure of the Ministry of Finance to have the Committee informed regarding the issues raised previously pertaining to the Regulations published in the Gazette issued under the Regulations under the Imports and Exports Controls Act on wheat flour.
The Regulations under the Imports and Exports Control Act, No. 1 of 1969, published in the Gazette Extraordinary No. 2336/45 which was presented to Parliament on July 18, taken up at the Committee on Public Finance dated 21.07.2023, was also taken up for discussion. MP Patali Champika Ranawaka stated that unless the order process of wheat flour has begun, the license for the importation of wheat flour is restricted and the present context has created a flour duopoly. The Committee inquired about the action and progress in this regard.
Moreover, the Committee took into Consideration the Appropriation (Amendment) Bill 2023 which was approved by the Committee. The borrowing limit of Rs.4,979 billion has been increased to Rs. 13,979 billion under the Appropriation Act No. 43 of 2022. Accordingly, 9,000 billion rupees for re-issuance of debt ceiling needs have been revised. As a provision to the Department of Treasury Operations for repayment of loans Rs. 4,222.23 billion to Rs. 13,222.23 billion expenditure limits will be increased by amending subsection 2 (4) of the Act and the Second Schedule.
State Minister (Dr.) Suren Raghavan, MPs (Dr.) Major Pradeep Undugoda, M. A. Sumanthiran, Isuru Dodangoda, (Dr.) Kavinda Jayawardhana, Duminda Dissanayake, Rauff Hakeem, Premnath C. Dolawatte, Harshana Rajakaruna, Madhura Withanage, Chandima Weerakkody, and Mayantha Dissanayake were present at the Committee meeting. (NewsWire)