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Parliament sessions adjourned till 9.30 am tomorrow.
A task force to review budget proposals to be established.
Safety sticker for drinking water bottles to be made mandatory
Rs. 50 million allocated for foreign job training targeting youth.
Polonnaruwa and Badulla hospitals to be designated as teaching hospitals.
Paid ward system in state hospitals to be reintroduced with national and base hospitals.
Rs. 100 million allocated to establish an excise laboratory facility to test the quality of alcohol products
Rs. 500 million allocated for climate change research and studies, establishing an international university.
Annual addition of $3 billion is expected from new exports from 2023-2032.
Expert Committee to be set up to look into the possibilty of cultivating cannabis as an export crop.
Funds allocated to promote entrepreneurship of elders and disabled. Funds also allocated to look into nutrition needs of children.
A comprehensive welfare beneficiary system to be implemented.
It is expected to achieve a high economic growth rate of 7% - 8% through the social market economy based on reforms and modernization.
A gem trade centre to be established.
A regulatory body to be established to look into micro-finance activity in Sri Lanka.
Finance Ministry established a sepcial unit to look into state sector enterprises. Sri Lanka Telecom, Sri Lankan Airlines, Hilton Colombo , Waters Edge Hotel and Sri Lanka Insurance and related companies to be reformed.
The President says the necessary legislative amendments and new bills for economic transformation will be presented to Parliament soon.
The government recognizes the difficulties endured by state sector employees and pensioners in the face of inflation. With state service reforms, the government expects to provide relief for these sectors by by the end of year 2023.
Special programme to be implemented to identify high-net worth individuals and promote tax contributions.
Special focus on a new economic program - environment-friendly green and blue economy and digital economy.
Passport and visa fees to be increased.
Insurance scheme proposed for Private sector employees. This scheme will provide an allowance for three months for private sector employees who lose their employments. Funds will be raised from EPF and the ETF Act to be amended to facilitate this.
Presidential Commission to be set up to appoint a State Revenue Authority.
Presidential Committee to be set up to explore state sector reforms
Rs. 50 million to be allocated to establish a new institute for Sri Lanka History studies.
Rs. 60 million allocated to initiate Postgraduate Medical Degrees in Peradeniya, Ruhuna and Jaffna Universities.
President said a new economic foundation should be prepared to match the new trends of the world.
Instead of a lifestyle tailored to per capita income, an economy tailored to the lifestyles of the youth.
Digital technology to play a significant role in economic recovery. A committee to appointed to look into the laws and policies. As the mandate for the ICTA is now over, a new methodology is required in place. Therefore this agency will be abolished.
Seperate Department to be established in Karandeniya to propmote Cinnamon cultivation. Rs.200 million to be allocated for this.
Underutilised lands to be provided for export crop cultivation on long term basis.
Policy decisions to be taken to increase Sri Lanka's opportunities to compete in the flobal manufacturing chains.
President assures the commencement of a new journey ensuring the lifestyles that the society is familiar with, will not fall to a lower level again.
Labour laws should be updated to benefit both employees and employers. Trade unions to be consulted in this regard.
Steps to be taken to enter into regional economic agreements such as the Singapore FTA
Alternatives to be revisted to attract foreign investors based on tax relief measures. Rs. 100 million to be allocated for this purpose.
Economic stratergies proposed through the budget will not be restricted only to IMF proposals. Economic stratergies of the IMF are only about Economic stablity.
Western Province, Trincomalee and Hambantota to be developed as new economic zones.
President said that the long-term development of the country (2023-2048) is based on correct decisions and not popular decisions.
New laws pertaining to economic transformation will be tabled in parliament soon.
President says that private entrepreneurs should be encouraged. They should be provided with all facilities.
President states the government maintains 420 state institutes and enterprises, out of which 52 state enterprises incur a loss amounting to Rs. billion 86 annually.
President states that Sri Lanka has only created a few avenues of earning foreign exchange since independence.
Inflation has been controlled to a certain extent while the rupee is being strengthened, President states.
President Ranil Wickremesinghe states economic difficulties has been somewhat eased over the past few months and expresses confidence in stabilizing the economy following talks with the International Monetary Fund.
President Ranil Wickremesinghe arrived in Parliament a short while ago where he is expected to deliver the 2023 Budget Speech.
President Ranil Wickremesinghe in his capacity as the Minister of Finance will present the 2023 budget to Parliament today.
FATHIMA ZINHA MUBARAK Monday, 14 November 2022 01:59 PM
CRISIS AND THE PRESENT SITUATION HAS TAKEN THE POOR MAN TO THE PAWN SHOP AND EVEN TO THE ROAD ASKING FOR FOOD AND HELP. WHO IS TO BE BLAMED? IS IT THE GOVERNMENT OR THE PEOPLE WHO ARE BEHIND IT.
Gamini Monday, 14 November 2022 02:11 PM
President states the government maintains 420 state institutes and enterprises, out of which 52 state enterprises incur a loss amounting to Rs. billion 86 annually. Yes,very correct. some SOEs given everything, resources,money, luxury salary, freedom etc but utterly failed in their duty for decades, such as issuing digital ID, Implementing Digital economy, digital services etc.Huge waste of public tax money nearly Rs 500 million a year for maintenance of such SOE. Liquidate these agencies immediately and functions should be taken over by the ministries.
Nadi Karunaratne Monday, 14 November 2022 03:06 PM
Clueless.
Rp Monday, 14 November 2022 03:31 PM
Solar panels should have been offered to schools hospitals and other important institutes, not to places of worship. If you go by the bank deposits of religious places and religious leaders I don't think the government should provide anything free
Tom Hanks Monday, 14 November 2022 07:47 PM
The high value individuals to be identified....don't have to go far. They are in the parliament. Tax them.
Anton Monday, 14 November 2022 09:16 PM
Sri lanka should hire western or good economist as advisor for budget and as economic advisor. Budget sounds very immature. Need highly technical budget for long term growth. Sticker on water bottle sounds very silly for annual budget announcement that too by a president.
Cassim Zarook Monday, 14 November 2022 11:09 PM
Mr. President your budget cannot take us anywhere. Mere weasel words from the Mega Talk Show. We need a system change, out with the presidential system, a new meaningful electoral system, where the loser must go home. Meritocracy, accountability, and transparency will be the order of the day. Judiciary above board.
Aquarius Monday, 14 November 2022 11:49 PM
With the country's economy in shatters and with no war or any other genuine threats to the country, the top expense in the budget will be for defence. This exorbitant amount will be to cover and protect the a*ses of the bloated cabinet ministers and to maintain their ministries and secretariats, their security details and massive deployment of official vehicles consuming fuel that is hardly available to the people. On top of this RW will be forced to appoint more pohottuwas as Ministers. What we need is a trimmed cabinet of 20-25 without any State Ministers.
Aquarius Monday, 14 November 2022 11:57 PM
The most important item that should be included in the budget is how to get back the looted millions. If they dare, this will definitely bring in millions to the empty government coffers, but will anyone have the backbone to mention or act on it?
Sambo Tuesday, 15 November 2022 08:14 AM
Most of these budget allocations are only dreams with no reality. Just to fool the public.
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