Sri Lanka’s Finance Minister introduces relief package

Finance Minister Basil Rajapaksa on Monday announced a relief package for different sectors in Sri Lanka.

Complete Cabinet Decision:

2022 Economy and Outlook

The budget for the year 2022 has been approved by the parliament and commenced to effect from 01 of January 2022 and the Minister of Finance submitted the following information on the external outlook of the Sri Lankan economy in detail which is expected to achieve through the budget for the consideration of the Cabinet of Ministers.

  • Information regarding the estimated foreign exchange that outflow from the country in 2022 including the payment of foreign debt services and expected Import expenses on goods and services.
  • Expected foreign exchange inflow in 2022 including export earnings, earnings from Tourism, Remittance from foreign employees, direct foreign investments.
  • Proposed Short and Middle term measures to recuperate the expected foreign exchange deficit .

The following concessions were proposed in order to reduce the economic difficulties the people have to face due to the increase of prices of goods and services under the prevailing economic condition.

  • Provide a monthly allowance of Rs.5000 for the public servants and pensioners.
  • Take measures to provide the said concession for the employees of the private sector by discussing with the employers of the private sector.
  • Provide an extra allowance of Rs.1000 for the Samurdi Beneficiaries who have a monthly allowance of Rs.3500.00 and provide the said allowance to the Samurdi Beneficiaries.
  • Provide a supplementary price of Rs.25 per Kilogram of paddy additionally to the certified price of Rs.50 per Kilogram of paddy which provides currently if there is any decrease in the harvest in the forthcoming season.
  • To bear the supplementary price that provides by the government as not to effect on the price of rice in the market.
  • Implementing menting a gardening programme to encourage the growing of vegetables and fruits for the own consumption and provide an encouraging allowance of Rs.10,000/= as per the extent of the land subject to a maximum of an acre which is necessary for land preparation and buying inputs such as seeds.
  • Provide 15 Kilograms of Wheat Flour at a concessionary price as Rs.80/= per kilogram for an estate labour family.
  • To release all essential foods and medicines from taxes completely in order to take measures to protect the local farmers and manufacturers where if necessary.

The Cabinet of Ministers decided to agree for implementing the programme which includes the aforesaid proposals that were submitted by the Minister of Finance.

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