News

CoPF questions action taken to recover losses incurred by the Sugar Tax Scam

Published

9 months ago

August 14, 2023

editor

The Committee on Public Finance questioned the officials representing the Ministry of Finance regarding the action taken to recover the loss incurred by the Sugar Tax Scam in Sri Lanka.

The Committee expressed its displeasure as the Ministry of Finance has failed to take action in this regard as yet.

The matter arose at the Committee on Public Finance held recently (08) in Parliament under the Chairmanship of the protem Chair Patali Champika Ranawaka, in the absence of its Chair Dr. Harsha de Silva.

The Committee questioned as to why the Inland Revenue Department in consultation with the Attorney General has not yet taken action on this regard. Accordingly, officials representing the Ministry of Finance stated that they have been updating the Committee on Public Accounts (COPA) regarding the progress and that the Attorney General’s Department has advised that as there was a case pending on this regard, proceeding forth would follow post the determination.

The Committee then inquired whether action could be instituted if the relevant parties withdrew the pending case in court. Accordingly, the Committee requested the Attorney General’s Department to have the Committee informed regarding the stated concern with immediate effect.

The Committee also raised concerns over the failure of the Ministry of Finance to have the Committee informed regarding the issues raised previously pertaining to the Regulations published in the Gazette issued under the Regulations under the Imports and Exports Controls Act on wheat flour.

Furthermore, the Regulations under the Imports and Exports Control Act, No. 1 of 1969, published in the Gazette Extraordinary No. 2336/45 which was presented to Parliament on 18.07.2023 taken up at the Committee on Public Finance dated 21.07.2023, was also taken up for discussion. The protem Chair Hon. Patali Champika Ranawaka stated that unless the order process of wheat flour has begun, license for the importation of wheat flour is restricted and the present context has created a flour duopoly. The Committee inquired the action and progress on this regard.

Moreover, the Committee took into Consideration the Appropriation (Amendment) Bill 2023 and was approved by the Committee. The borrowing limit of Rs.4,979 billion has been increased to Rs. 13,979 billion under the Appropriation Act No. 43 of 2022. Accordingly, 9,000 billion rupees for re-issuance of debt ceiling needs has been revised. As a provision to the Department of Treasury Operations for repayment of loans Rs. 4,222.23 billion to Rs. 13,222.23 billion expenditure limits will be increased by amending sub-section 2 (4) of the Act and the Second Schedule.

News

China Pledges Full Support for Sri Lanka’s Debt Restructuring

Published

17 hours ago

May 4, 2024

editor

State Minister of Finance Shehan Semasinghe has met with the Chinese Vice Minister of Finance Liao Min.

This meeting was held on the sidelines of the ADB annual meeting in Georgia.

Minister Semasinghe said on X ”at this discussion China assured its fullest support and cooperation to conclude the debt restructuring process in Sri Lanka.”

Furthermore, he said that China reaffirmed steadfast support to Sri Lanka on all fronts.(news first.lk)

News

Sri Lanka slips down Press Freedom Index

Published

2 days ago

May 3, 2024

editor

Reporters Without Borders released the 2024 World Press Freedom Index on Friday (03).

According to RFS, Sri Lanka has slipped to the 150th position in the index, from 135th position last year.

Click here to read the RSF Sri Lanka Fact File

News

Companies should be ashamed of not giving workers a raise – Vadivel Suresh

Published

2 days ago

May 3, 2024

editor

Mr. Vadivel Suresh, General Secretary of the Lanka Jathika Estate Workers’ Union, emphasized that both the Government and the Plantation Employers’ Association bear the responsibility of providing wage increases to plantation workers. These workers, who play a pivotal role in sustaining the esteemed reputation of ‘Ceylon Tea’, contribute significantly to the national economy of Sri Lanka.

MP Vadivel Suresh, made this statement during his participation in today’s (03) news conference at the Presidential Media Centre (PMC), under the theme ‘Collective path to a Stable Country’.

The Member of Parliament noted that plantation companies, benefiting significantly from the fluctuating dollar value, ought to feel ashamed for not providing their workers with a salary raise. He emphasized that the salary increase outlined in the gazette notice issued by the Labour Commissioner General for plantation workers should be implemented.

MP Vadivel Suresh further commented:

“We express gratitude to the President and the government for raising the salary of plantation workers to LKR. 1700. However, the Plantation Employers’ Association is contesting this decision.

The estate companies that profited greatly from the dollar’s value should be ashamed of themselves for not giving their workers a raise. Expressing opposition to the decision to increase wages for their workers, who contribute significantly to strengthening the national economy by upholding the reputation of Ceylon Tea, is regrettable. The decision to raise estate workers’ wages was not made hastily; rather, it followed extensive negotiations over the course of a year involving the Department of Labour, trade unions, and relevant stakeholders.

Employers’ unions persistently refrained from engaging in wage-fixing negotiations. Similarly, they remained silent when a salary increase of LKR 1000 was requested. However, the Labour Commissioner General, utilizing his authority, lawfully issued a gazette notice for a salary hike of LKR 1700. It is unjust for estate companies to procrastinate without providing relief to the workforce amidst fluctuations in the dollar’s value.

Both the government and the plantation Employers’ Association bear responsibility in this matter. Consequently, companies cannot contravene government decisions. Estate companies claim they are in dialogue with the high-level committee for the ultimate verdict. However, all 22 estate companies are owned by five individuals. These owners are involved not only in tea plantations but also in sectors such as tourism, small-scale manufacturing, agriculture, and gems. Additionally, plantation workers and trade unions must unite in support of this wage increase.

(President’s Media Division)

Gazette issued to up estate workers’ daily wage

Unable to increase daily wage – Plantation owners