President Ranil Wickremesinghe has announced the exemption of items such as books, school supplies, medicines, & health equipment from the VAT list.
He said this while addressing Parliament today (March 06).
The President also declared that the nation’s economy commenced its revival in the third quarter of 2023. He further highlighted that international financial institutions have forecasted a potential economic growth ranging from 2% to 3% for the year 2024.
He also announced that state revenue saw a significant increase of over 50% in 2023 compared to 2022. Consequently, all outstanding payments owed to contractors who had rendered services to the government for three to four years were settled.
President Wickremesinghe also announced that the usable foreign exchange reserves, which stood at less than USD 20 million in mid-April 2022, have surged to over USD 3 billion. He also stated that import restrictions, except for private motor vehicles, have also been lifted.
The President also noted that in 2023, for the first time since 1977, both the balance of payments & current account will show a surplus. Additionally, he highlighted that the US dollar, which stood at Rs. 363 rupees this time last year, has depreciated to approximately Rs. 308 as of yesterday, resulting in a strengthening of the rupee.
President Ranil Wickremesinghe expressed his aspiration to secure temporary relief from debt payments spanning from 2023 to 2027. He emphasized his commitment to diligently repaying the debt within the timeframe of 2027 to 2042.
The successful outcome of the debt restructuring negotiations will diminish the annual external debt payment from 9.5% to 4.0% of the GDP, he added. Additionally, if the economic growth experienced in 2022 & 2023 persists, the government revenue can be maintained at a substantial level. The President emphasized that under these circumstances, servicing the debt will not impose a burden on the country.
The President also announced that under the initiative to expand the tax network, the total number of tax files has surpassed 1 million in the year 2023. He further stated that the printing of money has been completely halted.
The President also highlighted ongoing efforts to bolster & modernize the legal framework, systems, & processes aimed at enhancing public financial & economic management. Additionally, he noted the publication of the Governance Diagnostic Report, a first in South Asia, underscoring steps taken to enhance governance & mitigate corruption risks.
The President also announced that 2 million families will attain ownership of freehold land deeds through the Urumaya program. Additionally, he emphasized that 2.4M low-income families will receive relief, with tripled social security benefits, aimed at safeguarding the poor & vulnerable from the impacts of the economic crisis.
The President also mentioned that approximately 4.5M school children will reap the benefits of the ‘Suraksha’ health insurance system. Furthermore, he announced that scholarships would be granted to 100,000 school children through the Presidential Fund. Also, the financial assistance provided to patients from the President’s Fund has been doubled, he added.
The President further noted that development initiatives have commenced in thousands of villages across 89 Divisional Secretariat Divisions as part of the ‘Kandukara Dashakaya’ program. Additionally, he stated that each Divisional Secretariat has been allocated Rs. 100 million for this purpose.
The President also emphasized that the advantages of the growing economy will be extended to all segments of society, ensuring equitable distribution throughout. He pledged to undertake initiatives aimed at uplifting the entirety of society.
President Anura Kumara Disanayake stated that the life of His Eminence Malcolm Cardinal Ranjith serves as an exemplary model in an era when the moral and spiritual values of society are in decline.
The President made these remarks yesterday (July 07), delivering a speech at the felicitation ceremony organized by the Archdiocese of Colombo to mark the 50th Ordination Anniversary of His Eminence Malcolm Cardinal Ranjith’s sacred priesthood. The event was held at the Archbishop’s House in Colombo.
The President stated that His Eminence is deeply engaged in a tireless mission to uphold social harmony and spiritual upliftment. He is a statesman who has rendered a significant service to the country, a theological scholar capable of articulating the teachings of the Bible with clarity, a powerful orator with the ability to awaken society and above all, a true humanitarian whose influence extends beyond these roles.
The President further affirmed that every possible step will be taken to ensure justice for the victims of the Easter Sunday attacks, without allowing the passage of time to obscure the truth. He emphasized that this is a challenge the government must confront, even within its own institutions and no matter how difficult it may be, justice must be served.
Addressing the gathering, His Eminence Malcolm Cardinal Ranjith reflected on his 50 years of priestly service and commended President Anura Kumara Disanayake for his success in ending a 75-year era of autocratic rule. He also expressed appreciation for the President’s efforts to dismantle a political culture rooted in spreading division among ethnic communities and emphasized the need for a new approach as the country moves towards becoming a prosperous nation.
On this occasion, to mark the 50th Ordination Anniversary of His Eminence Malcolm Cardinal Ranjith’s priesthood, a commemorative stamp and first-day cover were officially presented to the President.
His Eminence Malcolm Cardinal Ranjith was born in 1947 in the Polgahawela area of Kurunegala. He was ordained as a priest on June 29, 1975, at St. Peter’s Basilica in the Vatican, by Pope Paul VI. Thereafter, he served in various roles including Assistant Parish Priest, Acting Parish Priest, Lecturer in theology and professor at the seminary. He is proficient in multiple languages including Sinhala, Tamil, English, German, French, Spanish and Indonesian.
In 1991, under the leadership of then-Archbishop His Eminence Nicholas Marcus Fernando, he was appointed as Auxiliary Bishop of the Archdiocese of Colombo, with his episcopal ordination taking place at the Basilica of Our Lady of Lanka in Tewatte.
Subsequently, on June 16, 2009, Malcolm Ranjith was appointed as the Archbishop of the Archdiocese of Colombo. A year later, on November 20, 2010, he was elevated to the rank of Cardinal at the Basilica of Saint Lawrence in Italy. With this appointment, His Eminence Malcolm Cardinal Ranjith became the second Sri Lankan to receive the blessing of holding the title of Cardinal. He has held numerous positions both nationally and internationally, including serving as chair of several international assemblies.
His Eminence has been the recipient of numerous international accolades, including the Thomas Aquinas Medal for Religious Studies awarded by the Thomas Aquinas College in the United States and the 7th Giuseppe Sciacca International Award for Cultural Achievement, conferred in 2008 by the President of the Italian Republic. A respected writer as well, he has contributed a multitude of articles to journals and newspapers.
Ven. Anunayaka of the Malwathu Chapter, Most Venerable Niyangoda Vijithasiri Thero and Ven. Dr. Omalpe Sobhitha Nayaka Thero extended their wishes during the occasion.
The event was also graced by the Maha Sangha of the three Nikayas, religious leaders from all faiths, President of the Catholic Bishops’ Conference of Sri Lanka, Bishop Harold Anthony Perera, the Charge de Affairs of the Apostolic Nunciature Msgr. Roberto Lucchini, Auxiliary Bishops of Colombo Most Rev. Maxwell Silva and Most Rev. Anthony Jayakody, other Catholic clergy, Prime Minister Dr. Harini Amarasuriya, Opposition Leader Sajith Premadasa, several Ministers and Members of Parliament, Commanders of the Tri-Forces, the Acting Inspector General of Police, Ambassadors and many other distinguished invitees.
Mohamed Sheriff Abdul Wazeeth was sworn in as a Sri Lanka Muslim Congress (SLMC) National List MP before Speaker – Dr. Jagath Wickramaratne today (July 08).
He took over the Parliamentary seat that became vacant following the resignation of M.S. Naleem.
It has been reported that opposition ranks are planning to table a No-Confidence Motion against the Speaker – Dr. Jagath Wickramaratne.
According to political sources, many opposition parties have already agreed to support the move, with a final decision expected to be reached today (July 08).
The NCM is said to be based on several allegations of the Speaker obtaining additional benefits, misusing powers of his office and acting in a biased manner, favouring the ruling party.
Meanwhile, during a Samagi Jana Balawegaya (SJB) group meeting yesterday, criticisms have been raised on certain facilities and privileges the Speaker is said to have obtained.
In recent weeks, several opposition MPs, including Dayasiri Jayasekara, have publicly criticised the Speaker’s conduct in Parliament.