The first program to inform the executive officials at the provincial level regarding the cooperation expected to be obtained under the International Monetary Fund's extended funding facility, its progress and its positive aspects, was held today (31) at the Kegalle Post Auditorium covering Sabaragamu Province headed by the Minister of State for Finance Mr. Ranjith Siyambalapitiya.

State Minister of Finance Mr. Ranjith Siambalapitiya said that due to the budget deficit created in the country for many years, the economic crisis gradually developed in the country due to the weak exchange generation and difficult but effective decisions have to be made in order to revive the collapsed economy. 

Sabaragamuwa Provincial Council Chief Secretary Mahinda Weerasuriya said that the country is able to gradually return to stability through the extensive funding facilities of the International Monetary Fund in the face of the economic contraction in the agricultural, industrial and service sectors, which are under severe challenges due to the Covid epidemic and the economic crisis. 

Accordingly, in this awareness program under the extended fund facilities of the International Monetary Fund, the public income and expenditure gap and their reduction, financial capital management, profit and loss of the main government-owned enterprises, inflation, foreign remittances, tourism earnings as well as the economic reform programs proposed by the International Monetary Fund. Dr. Kapila Senanayake, Director General of the Department of Fiscal Policy, briefed the officials about the components, the upcoming proposed programs and the previous measures already met by the Government of Sri Lanka, the tax reforms to be implemented.

And the awareness about taxes imposed on personal income was done by Ms. Tanuja Ayanthi, tax consultant.

The importance of the financial control process including reforms related to public enterprises, strengthening of the social security network, economic growth reforms, export market and foreign trade agreement incentives was explained here and the officials present were given the opportunity to present their problems and suggestions.

On this occasion, the Additional Secretary of the Ministry of Monetary, Economic Stabilization and National Policy, Mr. H.G. Sumanasinghe, District Governors of Kegalle and Ratnapura and additional district secretaries and staff officers and divisional secretaries of those districts, Sabaragamuwa provincial ministry secretaries and heads of institutions and staff officers of state institutions in Sabaragamuwa province, a group of executive officers and others were present.