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CoPF approves to set up Parliamentary Budget Office

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The Committee on Public Finance (CoPF) approved the Bill for the Parliamentary Budget Office pending one amendment.

The draft bill for the Parliamentary Budget Office was taken up for consideration at the CoPF meeting headed by Chairman Dr. Harsha De Silva on June 13.

Dr. Silva said that this legislation was long overdue and would inject some much-needed independence in the analysis process.

The Committee scrutinized key areas of the Bill and paid special attention to:

● The scope of the budget office with regards to evaluations done on economic cost and revenue generation only. There is no mandate to evaluate social impact.

● The selection process is through an advisory committee consisting of the Chairs of the Public Finance and Ways & Means Committees and the Deputy Speaker of Parliament. This advisory committee will help the Secretary General of Parliament shortlist candidates for selection by the Constitutional Council for the Parliamentary Budget Office.

● The ability of the Budget Office to stay consistent with the National Physical plan and disseminate information in strict compliance with the Act that ensures that no sensitive data of compromising nature would be shared.

● More transparency in New Provision for Aspiring Candidates.

Meanwhile, a new provision grants the ability for leaders of recognized political parties to forward their own party economic manifestos to the Budget Office for independent analysis.

This enables greater transparency and accountability by aspiring candidates who will have to have scientific methodology to their manifesto provisions.

Accordingly, the Chairman stressed that the Parliamentary Budget Office is an independent entity enshrined by legislature to analyze what has been proposed using alternative methodologies to see what the financial impact on the forecasts are.

The Bill was approved pending an amendment to present the budget of the Budget Office within 60 days. 

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Heavy rains expected in some areas today

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Showers will occur at times in the Western and Sabaragamuwa provinces and in the Nuwara-Eliya, Kandy, Galle and Matara districts today (June 18), the Department of Meteorology said.

Several spells of showers will occur in the North-western province.

Showers or thundershowers can be expected at a few places in the Uva province and in the Ampara and Batticaloa districts during the afternoon or night.

Fairly strong winds of about 30-40kmph can be expected at times over the Western slopes of the central hills and in the Northern, North-central, Southern and North-western provinces and in the Trincomalee district.

The general public has been requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

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SL embassy in Tehran, relocated – Vijitha

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The Sri Lankan Embassy in Tehran, Iran has been relocated amid the prevailing situation, Sri Lanka’s Foreign Minister Vijitha Herath told the Parliament today (June 17).

Embassy officials have also been moved due to the situation. In addition to embassy staff, eight Sri Lankan students who had been at the Embassy in Tehran have also been relocated to the northern part of Iran due to security concerns. 

However, all contact numbers remain operational, the minister added.

Herath said that approximately 35 Sri Lankans remain in Iran, with those residing in Tehran currently facing heightened risks. He also pointed out that nearly 20,000 Sri Lankans are presently in Israel.

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No risk of a fuel shortage – Nalinda

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Cabinet Spokesman and Minister Dr. Nalinda Jayatissa has assured that there is no risk of an impending fuel shortage in the country due to the ongoing Iran-Israel conflict.

Speaking during the Cabinet briefing earlier today (June 17), he assured that Sri Lanka currently has adequate fuel reserves to meet national demand for at least two and a half months and and that necessary arrangements have been made to procure upcoming fuel shipments without any issues.

He urged the public not to be misled by such claims on social media.

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