Ranil Wickremesinghe Singapore Sri Lanka city Singapore president economy Government Dreams Ranil Wickremesinghe Singapore Sri Lanka city Singapore

Funds lost as Public Sector went in to business – President

Reading now: 253
www.newsfirst.lk

Sri Lankan President Ranil Wickremesinghe said that due to the public sector engaging in business activities, the money that was available for the construction of 100 projects similar to the Mahaweli during the past decades, was destroyed.He noted that in the future, the public sector will stop engaging in business and open it to the private sector to create a free and productive economy.President Wickremesinghe mentioned this at the 71st commemoration ceremony of the late Prime Minister D.S.

Senanayake at Independence Square on Wednesday (22).Recalling that D.S. Senanayake’s vision was to create a free economy, the President said that business should be done by the private sector and that the country could be developed with the tax revenue obtained from them.However, due to the nationalization in 1956, the Government started engaging in business and that is why the tax revenue was inadequate for the development of the country, the President pointed out.He stated that the country has distanced itself from Mr.

D.S. Senanayake’s vision, but following his vision, Singapore has become a developed country today and said that despite our politicians dreaming of making Sri Lanka a Singapore, the destruction caused to Sri Lanka in the last 75 years due to the decisions of certain political movements is immense.Therefore, the President further mentioned that Senanayake’s legacy should be carried forward to build a strong and powerful Sri Lanka.President Wickremesinghe also laid floral tributes at the statue of the late D.

Read more on newsfirst.lk
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

South Philadelphia - Scott Small - Ford Suv - Shooting at FDR Park leads to wrong-way chase, crash on I-76 West in South Philadelphia, police say - fox29.com - county Park
fox29.com
81%
519
Shooting at FDR Park leads to wrong-way chase, crash on I-76 West in South Philadelphia, police say
PHILADELPHIA - The Philadelphia Police Department is investigating an incident that began at FDR Park and ended with lane closures on I-76 West. Authorities say police responded to a report of a shooting on Pattison Avenue in the area of FDR Park in the South Philadelphia section of the city just before 3 a.m. Officers who responded to the scene did not find anything initially, according to Philadelphia Police Chief Inspector Scott Small. Small told reporters officers found a scene on the westbound lanes of I-76, where a Ford SUV and Infiniti Sedan were involved in a crash. According to authorities, the Ford had eight bullet holes and a 27-year-old victim in the back seat with a gunshot wound to the neck. Small says the shooting victim, who was unable to move due to the gunshot injury, was transported to Presbyterian Hospital, where he is in critical condition. Police say a 32-year-old woman was the driver of the Ford SUV. MORE LOCAL HEADLINESA 22-year-old man was driving the Infiniti and a gun was found on the vehicle's floorboard, authorities say. Investigators say a preliminary investigation revealed the drivers of both vehicles got into an altercation on the 1900 block of Pattison Avenue. According to Small, that's where crime scene technicians found 19 spent shell casings from the shooting. Officials say a PennDOT driver witnessed the incident and told authorities the two cars then drove at a high rate of speed the wrong way on I-76 West. The two vehicles eventually crashed on I-76 as police responded to the scene, police say. The 22-year-old driver of the Infiniti was taken into custody, according to Small. Lanes on I-76 West were closed for several hours but have since reopened. Police respond to lanes on I-76
Ranil Wickremesinghe - Sri Lankan President presents IMF-program based revenue generation plan - newsfirst.lk - Sri Lanka
newsfirst.lk
53%
903
Sri Lankan President presents IMF-program based revenue generation plan
COLOMBO (News 1st); Sri Lanka's President Ranil Wickremesinghe told Parliament that the government will be introducing a serious of reforms after the IMF Executive Board granted approval for a bailout package of the country.Increasing Public Revenue:– Reduce the primary deficit to 2.3% of the GDP by 2025.– Increase the government’s revenue up to 15% of the GDP by 2026 through our measures.– Raised the standard corporate income tax rate to 30% without sectoral tax holidays.– PAYE tax rate was increased from 8% to 15%.– The measures required to reduce the existing tax exemptions on Value Added Tax (VAT) will come into effect by 2025. Further, necessary measures will be taken to remove the simplified VAT system and expedite its reimbursement.–  Steps have also been taken to introduce tax on awards / substitutes and to introduce Estate Duty as a property tax by 2025, while providing an appropriate tax exemption allowance at a minimum.–  Revamping the property tax system and introducing a wealth transfer tax – Introduce a gift and inheritance taxManaging Expenditure:– Increase the allocations provided to cover the expenses through proper management of expenditure.– Adjustments in certain salary scales and pension schemes as part of the impact of inflation within the primary deficit targets.State Enterprises and Energy Cost: – Fuel prices will be determined based on the 2018 Price Formula.
DMCA