News

Higher excise revenue in 2022 amidst challenges!

Published

1 year ago

November 18, 2022

editor

The Excise Department’s 2022 revenue received so far is equal to the excise revenue received in 2021 despite many challenges such as rising raw material prices, fuel shortages and lockdowns.

In 2021, the revenue of the Excise Department was Rs.139 billion.

Excise Commissioner General M.J. Gunasiri said that it is a pleasure to be able to meet the expected revenue target within the first 11 months of this year.

Accordingly, he said the target of excise revenue of Rs.165 billion will be achieved by the end of 2022.

The Commissioner General said that the prevention of revenue leakage through the programme commenced on January 3 this year to affix stickers on bottles of local and foreign liquor was a key reason to raise the revenue quickly.

He also said that a few officers in the department made many attempts to disrupt this programme, but due to the commendable work of the majority of officers who work with great dedication and responsibility, they were able to increase the income.

Main factors that have contributed to the decrease in the demand of liquor since the beginning of 2022 include higher price of raw materials required for alcohol production including ethanol, shortage of fuel, the lockdowns, the widening of the gap between the income and expenditure of the people, inflation, the imposition of VAT, the imposition of social security taxes and constant alcohol price hikes.

Accordingly, there is a 40% decrease in demand compared to the previous year.

News

China Pledges Full Support for Sri Lanka’s Debt Restructuring

Published

21 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