Finance Ministry to set up separate department for private sector from 2016

Oct 22, 2015 (LBO) – Sri Lanka’s Finance Ministry is to set up a separate department for the private sector development at the ministry from January 01, 2016, Minister Ravi Karunanayake said.





Karunanayake said the upcoming budget will be a revolutionary one where the monopolistic approach of the government will be reduced with competitive element emerging with a level playing opportunity given to all stake holders.

“Many sectors in the economy will be opened especially the financial sector will need a radical change where we expect the banks to take the risk and get forward for the betterment of the economy,” he told a forum in Colombo. The appropriation bill for 2016 will be presented to Parliament tomorrow and the budget speech will be held on 20th November 2015.






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Meanwhile the Prime Minister is to make a special statement in the Parliament early next month setting the direction of the country’s economic future.