Dec 09, 2018

Finance secretary to question attorney general Featured

The finance secretary has decided to ask the attorney general as to how state expenditure could be approved in the event no budget or vote on account is passed by next month, reports say.

The AG will specifically be asked as to how funds could be obtained to pay public servants’ salaries and pensions and to meet recurrent expenditure.

The finance secretary is trying to cover these expenditures with the allocations in accordance with the of loans (special provisions) act of 1982.

Parliament has already approved payments for the bonds and treasury bills that will mature mid-January.

Losing confidence in the business environment reliability

Meanwhile, the European Chamber of Commerce of Sri Lanka, the American Chamber of Commerce and the Delegation of German Industry and Commerce in Sri Lanka say they are gravely concerned about the present political uncertainty and upheaval in the country.

In a statement, they say, “We are of the view that the current situation will result in many adverse economic and social consequences to the country, if it remains unresolved.”

“We would like to highlight that foreign investors and potential businesses are increasingly losing confidence in the reliability of the business environment of Sri Lanka and are reluctant to enter the Sri Lankan market due to the current instability.”

“Most of our members who are established in Sri Lanka and whom have been surveyed are already experiencing negative impacts on their businesses,” the statement adds.

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