Committee to examine loss making government institutions

A Committee to examine loss making government institutions and recommend improvements is to be established shortly, Media Minister Keheliya Rambukwalle said yesterday.

He told the weekly Cabinet press briefing in Colombo that the appointment of the Committee was sanctioned by the Cabinet of Ministers on Wednesday.

The committee, which will consist of representatives from the Ministries of Resources and Entrepreneur Development, Finance and Planning, Industry and Commerce and the Central Bank, has been mandated to study the causes that led to government institutions making losses and suggest measures to reverse the trend, Rambukwalle said.

The Cabinet, he said, also approved of Sri Lanka entering into agreements with SAARC member countries on Service Charge Agreements, based on a consensus reached at the recent Thimpu SAARC Summit.

Among the other proposals that were sanctioned was a Memorandum to annul a 22 per cent printing tax, levied on the import of foreign currencies. This will help importers in establishing Letters of Credit at a cheaper rate and become more competitive with black market operators, Rambukwelle said.

He said that a proposal to purchase two new transformers at a total cost of Rs.150 million, for the Pannipitiya and Sapugaskanda sub stations, also received Cabinet approval.

www island.lk

Copyright©Upali Newspapers Limited.

Hosted by


Upali Newspapers Limited, 223, Bloemendhal Road, Colombo 13, Sri Lanka, Tel +940112497500