Finance Minister obtains proposals for budget from Ceylon Chamber

Oct 18, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake recently met with the committee members of the Ceylon Chamber of Commerce to obtain their views on the upcoming Budget presentation. The discussion was chaired by Chairman of the Chamber Samantha Ranatunga and each committee member was given an opportunity to express their views on the upcoming budget and also raise sector related issues. Committee members brought to the attention of the Minister several issues plaguing the growth of sectors such as agriculture, taxation, real estate, non-banking, transportation, apparel and confectionery among several other areas. The Minister in response said that the government will look into the issues raised by the members and resolve them, if it affects the growth of the mentioned industries. Finance Minister also urged the private sector to work closely with the government and utilize the services offered by the newly established private sector unit of the Ministry of Finance, which the Minister feels is not being done adequately. The CCC Committee, which consists of top corporate executives of the country, gathers once a month to discuss the status of the country’s economy and the Chamber’s role in shaping its direction.

First reading of Budget 2017 (budget speech) is scheduled on 10th November 2016 and the second reading debate and committee stage debate are scheduled to be held for 26 days in the months of November and December.