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Announce selling price of wheat flour kilo as Rs.198 – CoPF

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The Committee of Public Finance (CoPF) instructed the officials of the Ministry of Finance to announce that the selling price of a kilogram of wheat flour as Rs.198 so to avoid two major companies making additional profit and to protect the consumer.

This was discussed when the committee met on 15.08.2023 Chaired by Patali Champika Ranawaka, who was appointed as the protem Chair in the absence of the Committee Chair Dr. Harsha de Silva.

Attention was drawn to the Regulations under the Imports and Exports (Control) Act, No. 1 of 1969 published under the Gazette Extraordinary No. 2336/45 of 14.06.2023 which is to be approved by the Parliament.

The Committee Chair said that the officials of the Ministry of Finance said that the gazette published on 14.06.2023 was issued with the aim of preventing the various companies importing wheat into Sri Lanka by overstocking to make additional profit. Therefore, instructions were given to provide accurate data on existing and current stocks of bread flour to confirm how far the desired objectives have been achieved through the gazette published on 14.06.2023. Thus, the Chair of the Committee pointed out that there will be space to find out if any irregularity has occurred.

Report on Cement
Attention was also drawn to the Order under the Export Development Act Act No. 40 of 1979 published under the Gazette Extraordinary No. 2336/71. The order to increase the cess levied on the import of cement raw materials by 2 rupees per kilogram was discussed here. The Chair of the committee pointed out that the construction sector can be greatly affected by increasing the cess levy on cement raw materials. Furthermore, the Committee pointed out that there is a profit of nearly 700 rupees between the price of cement landed at the port and the selling price after deducting all taxes.

The Committee Chair ordered the officials of the Ministry of Finance and the Ministry of Urban Development and Construction to give a report on the matter as it appears that there is a huge gap between the selling price of cement and iron and all related taxes are deducted.

No proper evaluation of social impact due to tax increases
Furthermore, it was revealed that the work of many houses, including low-income houses and middle-class houses, has stopped due to the housing projects started by the Urban Development Authority, and it was informed to provide a report on the impact on the construction industry.

The officials also pointed out that the construction of a house which was built at a cost of 12 lakhs earlier will cost at least 24 lakhs. The Committee also emphasized that the lack of proper evaluation of the social impact caused by the increases made by the Ministry of Finance for the purpose of increasing the Government’s income is a big concern. Furthermore, the Committee pointed out that the relevant departments should intervene for the regulation of cement prices.

The Order under the Colombo Port City Economic Commission Act, No.11 of 2021 published in the Gazette Extraordinary No. 2343/60 and the Order under the Strategic Development Projects Act, No. 14 of 2008 published in the Gazette Extraordinary No. 2339/08 were also considered. The officials of the Port City Economic Commission and the Board of Investments explained the issues including the non-adherence of concessional measures to attract investments.

Thus, subject to the above-mentioned recommendations, these four gazettes were approved by the Committee on Public Finance.

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Members Appointed to the Port City Economic Commission

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President Anura Kumara Dissanayake has appointed members to the Colombo Port City Economic Commission.

The appointment letters were presented today (13) by the Secretary to the President, Dr. Nandika Sanath Kumanayake at the President’s Office.

Harsha Amarasekara PC has been named Chairman of the Commission.

Damian Amal Cabraal, Mohan Ray Abeywardena, Sanjay Kulatunga, and Dr. Harsha Subasinghe have also been appointed as members of the Commission.

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Parliament to meet on Tuesday, Wednesday

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Parliament will meet only on Tuesday and Wednesday (17 and 18), said Secretary General of Parliament Kushani Rohanadeera. The Parliamentary business with regard to that week was decided at the Committee on Parliamentary Business held on December 6 under the chairmanship of the Speaker.

Parliament will meet at 9.30 a.m. on Tuesday (17) and the time from 9.30 a.m. to 10.30 a.m. has been allotted for Questions for Oral Answers.

Thereafter, from 10.30 a.m. to 2.00 p.m., the supplementary estimate for providing an allowance for schoolchildren to obtain stationery and the supplementary estimate for allocating provisions for road projects for 2024 will be taken up for debate and it was decided to continue the debate on Wednesday (18).

The Adjournment Motion (Opposition) on the “Restructuring of International Sovereign Bonds” is scheduled to be debated from 2.00 p.m. to 5.30 p.m.

Parliament will meet at 9.30 a.m. on Wednesday (18) and the time from 9.30 a.m. to 10.30 a.m. has been set aside for Questions for Oral Answers.

Thereafter, from 10.30 a.m. to 5.00 p.m., along with the debate on the two supplementary estimates adjourned the previous day, the debate on Regulations under the Imports and Exports (Control) Act, Order under the Foreign Exchange Act, Regulations under the Payment and Settlement Systems Act, Regulation under the Casino Business (Regulation) Act, Order under the Ports and Airports Development Levy Act, Regulations under the Colombo Port City Economic Commission Act will be held. All of these subjects are scheduled to be presented to Parliament in the afternoon and passed.

Thereafter, time has been allotted for Questions at the Adjournment Time (two questions) from 5.00 p.m. to 5.30 p.m.

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US officials’ visit enhanced diplomatic ties between two countries

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U.S. Assistant Secretary for South and Central Asian Affairs at the Department of State Ambassador Donald Lu, along with Deputy Assistant Secretary for Asia and the Pacific at the U.S. Department of the Treasury Robert Kaproth and Deputy Assistant Administrator of the Bureau for Asia at the United States Agency for International Development (USAID) Anjali Kaur recently concluded a visit to Sri Lanka. 

They engaged in discussions with President Anura Kumara Dissanayake, Prime Minister Dr. Harini Amarasuriya and Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath. 

The visit underscored the deepening diplomatic relations between Sri Lanka and the United States, highlighting a shared commitment to regional peace, economic cooperation, and democratic development.

The delegation met President Dissanayake and discussed Sri Lanka’s economic recovery, ongoing anti-corruption initiatives, and efforts to strengthen governance and democratic institutions. The President also outlined his vision for uplifting rural living standards and enhancing the quality of the public sector.

The delegation also held a meeting with Prime Minister Dr. Amarasuriya, where they engaged in discussions on economic recovery and education reforms.

The delegation conducted discussions with Foreign Affairs, Foreign Employment, and Tourism Minister on issues related to regional security, human rights, and multilateral cooperation. 

The Minister briefed the delegation of the third review under the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme and assured Sri Lanka’s commitment to enhancing bilateral relations with all countries while maintaining a peaceful Indian Ocean region. 

He also commended the U.S. for its continued support extended to Sri Lanka. Deputy Assistant Administrator Kaur expressed the U.S.’s keen interest in tailoring future USAID projects to suit the priorities of the Sri Lankan Government.

This visit serves as a testament to the deepening relationship between Sri Lanka and the United States, with both countries committed to fostering stronger ties in the years ahead across various sectors of mutual interest.

(DailyNews)

(This story, originally published by DailyNews has not been edited by SLM staff)

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