News

CoPF displeased over no show of Finance Ministry officials

Published

2 years ago

July 26, 2023

editor

The Committee on Public Finance (CoPF) chaired by Dr. Harsha de Silva expressed displeasure over the absence of the officials responsible who had been summoned before the Committee.

The Committee was of the view that where matters pertaining to the Ministry is taken up for discussions, heads of the Ministry who are responsible and answerable to Parliament should be present before the Committee in order to proceed forth.

This was stated when the Mid-Year Fiscal Position Report 2023 issued under Section 10 of the Fiscal Management (Responsibility) Act, No. 3 of 2003, by the Minister of Finance, Economic Stabilization and National Policies was taken up for consideration at the Committee meeting held yesterday (25) in Parliament.

MoF presented the fiscal status as of the end of June 2023. According to this report, the primary balance of the budget had a surplus of 0.1%. Revenue collection has increased by 41.9% YoY to 1,317 Bn, mainly as a result of the substantial increase in VAT on goods and services. Expenditure for the first half was 2,560 Bn, which witnessed an increase of 40.5% YoY. The biggest increase was in domestic interest expense, which rose by 51.6% to 1,273 Bn in the first half of this year.

The Committee members raised various questions regarding the fiscal position, Economic performance, expenditure and the performance of the state-owned enterprises based on the statistics presented by the officials present. Key concerns raised by the member of CoPF were regarding the 11.5 percent contraction in the first quarter of 2023. The Committee questioned the root causes of such contraction and the specific measures taken to address such root causes preventing further economic downturns

The Committee further questioned the sustainable plan of the Ministry to achieve growth in line with the President’s vision 2048. Though there was a substantial discussion on the plan for growth to reach a developed country, it was disclosed that there was no coherent strategy.

The Committee was of the notion that the response to the Committee queries by the officials who were present, were ineffective and in lacks clarity. The Committee also queried the increase of taxes due naturally to inflation vs policy changes in taxes.

Whilst expressing the importance of being prepared with adequate data and statistics when presenting before the Committee, the CoPF also emphasized that the officials to the Ministry of Finance should be more responsible and have a proper vision along with a focused team to achieve the goal of a sustainable economy.

State Ministers Dr. Suren Raghavan, Patali Champika Ranawaka, Madhura Withanage, Harshana Rajakaruna, Dr. Nalaka Godahewa, Mayantha Dissanayake were present at the Committee meeting held.

News

Major reforms planned for bus transport

Published

8 hours ago

April 28, 2025

editor

Minister of Transport, Highways, Ports, and Aviation, Bimal Rathnayake, recently held a special discussion with officials from the National Transport Commission (NTC), the Sri Lanka Transport Board (SLTB), and the Provincial Road Passenger Transport Authorities across nine provinces. The meeting led to several key decisions aimed at modernizing and improving the country’s road passenger transport sector.

Among the major initiatives discussed were:

Immediate implementation of an integrated bus timetable for the Puttalam route.
Launch of a pilot project on Route 138, where all buses operate under a single association with profit-sharing arrangements.
Installation of GPS and CCTV systems in buses for improved monitoring and safety.
Development of an online ticket booking system in collaboration with the Ministry of Digital Technology.
Introduction of random drug and alcohol testing for bus drivers.
Mandatory issuance of bus tickets through electronic ticketing machines (implementation phase in progress).
Formulation of specifications for buses used in passenger transport.
Mandatory seatbelt usage for bus drivers.
Identification of new roads/routes for the addition of new bus services.
Provision of WhatsApp numbers for passengers to report complaints about buses, with numbers prominently displayed inside buses.
Minister Rathnayake emphasized the need for swift action to implement these measures and instructed officials to continuously monitor and report on the progress of each initiative.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

News

Chongqing gears up for 25th Lijia International Intelligent Equipment expo

Published

9 hours ago

April 28, 2025

editor

The international internet celebrity city of Chongqing in China will host a grand equipment manufacturing industry event – the 25th Lijia International Intelligent Equipment Exhibition 2025 next month.

The Expo will be held at the Chongqing International Expo Center from May 13th to 16th, 2025, attracting exhibitors and professional visitors from all over the world to discuss and showcase the latest technologies and products in the equipment manufacturing industry.

This exhibition, spanning across 100,000 sq. meters will bring together 1,400 globally renowned enterprises which will showcase their intelligent manufacturing equipment and technology, particularly the latest achievements, cutting-edge technologies, and high-end products in the fields of machine tools, industrial automation and robots, tool holders and measuring tools, sheet metal, die-casting casting, molds, rubber and plastic.

The 2025 Lijia Exhibition will also create multiple themed exhibition islands showcasing manufacturing powerhouses of China, which will comprehensively showcase solutions to industry pain points through on-site demonstrations, technical explanations, and physical displays.

In addition, the exhibition will also hold over 100 industry conferences and events. The main forum, “FIM-Future Intelligent Manufacturing Conference,” focuses on future factories, with the theme of AI+manufacturing. Industry experts are expected to provide suggestions and recommendations for manufacturing transformation.

Organizers point out that for global manufacturing enterprises, the expo is not only an excellent opportunity to learn about the latest technologies and products in China’s equipment manufacturing industry, but also also an important platform for gaining a deeper understanding of the Chinese market and expanding international cooperation. It will also open up opportunities to engage in in-depth exchanges and cooperation with Chinese counterparts, and to jointly promote the development and prosperity of the global equipment manufacturing industry.

News

RW issues special statement after exiting CIABOC (Video)

Published

10 hours ago

April 28, 2025

editor

Former President Ranil Wickremesinghe has left the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) after providing a statement today (April 28).

Soon afterwards, he had also made a special statement in this regard.

(Video : VoiceTube)

(Previous news 2025 April 28 – 9.20.a.m.)

Ex-President Ranil to appear before CIABOC today

Former President Ranil Wickremesinghe is scheduled to appear before the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) today (April 28) at 9.30 a.m.

He has been summoned to record a statement over the statement he had made on MP Chamara Sampath Dassanayake.

Former President Wickremesinghe, who was initially summoned to the CIABOC on April 17 but requested a postponement. He had requested a date after April 27th to appear before CIABOC, citing that his lawyer Ronald Perera is currently abroad.

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