Govt. to cut capital expenditure by 15 percent

Cites financial constraints

19 June 2019 07:46 am - 7 - {{hitsCtrl.values.hits}}

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The Finance Ministry is reported to have instructed all ministries to curtail their capital expenditure announced in the budget by 15 per cent because of financial constraints faced by the government.

Informed sources said the government is cash-strapped and unable to meet its revenue targets for this year in the aftermath of the terrorist attack and facing difficulties to find money for additional expenditures triggered by the Easter Sunday attack.

A government source said extra funds were needed to grant concessions to the tourism sector badly hit by the attack while the government is yet to settle bills amounting to Rs.99 billion for the projects carried out last year. (Kelum Bandara)

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Comments - 7

ANTON Wednesday, 19 June 2019 08:45 AM

DOES THIS INCLUDE BULLET PROOF VEHICLES THAT ARE SUPPOSED TO BE DONATED TO MINISTERS AND EXPENSES ON FOREIGN TOURS ???

Dhammika Guneratne Wednesday, 19 June 2019 10:28 AM

Yes , Make the CAPITAL as much SIMPLE as possible please

KS Wednesday, 19 June 2019 02:26 PM

Stop all tamashas including Appointment letter ceremonies.

xlntgson Wednesday, 19 June 2019 03:03 PM

to purchase equipments too?

Dee Wednesday, 19 June 2019 04:31 PM

They can start by cutting foreign presidential tours of 50 strong battalions

Lalindra Perera Wednesday, 19 June 2019 05:08 PM

First cut capital expenses on cars for ministers. spending 45 Mn on a bullet proof vehicle is a crime against Sri Lankans.

Nalin Gooneratne Thursday, 20 June 2019 05:35 AM

The Finance Ministry should check the high margins for overheads and profit in the estimates and also reduce wastage in the Ministry allocations. At least 50% can be saved.

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Govt. to cut capital expenditure by 15 percent

Cites financial constraints

Comments - 7

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