UNF abolishes war levy

[TamilNet, Friday, 22 March 2002, 20:23 GMT]
budget_choksy_220202.jpg
Sri Lanka's Finance Minister, Mr.K.N.Choksy opening the budget box in parliament, Friday.
The United National Front (UNF) government in its maiden budget presented in parliament Friday said the National Security Levy (NSL) and the Goods and Services Tax (GST) would be abolished from 1 June. The defence levy of 6.95 percent on all goods and services that was imposed by President Kumaratunga's government to finance the war on the Liberation Tigers has been blamed for the rapid rise of the cost of living in Sri Lanka.


"The NSL Value Added Tax (VAT) would be introduced instead of GST and NSL," Finance Minister, Mr. K. N.Choksy, said when outlining the main objective and the policies of the UNF government for the current fiscal year.

He said that this year budget has laid foundation for the budgets of the future years.

budget_choksy_1_220202.jpg
Sri Lanka's Finance Minister, Mr.K.N.Choksy outlining the main objective and the policies of the UNF government for the current fiscal year.
Mr. Choksy further stated that in the sphere of economic development, the country would be divided in to five economic zones. Each region would be entrusted to separate Economic Commission.

He said, "the policy of the government is to ensure the State media to act impartially. In this connection measures would be taken to bring down the price of newsprint."

"The aim of the government is to reduce the budget deficit to 8.5 percent of the Gross National Product (GNP). Earlier the deficit was 10.8 percent of the GNP.

The government also targets to reduce the State's debt to bring down the inflation rate to 9 percent which remains at 14.2 percent," said the Finance Minister Mr.Choksy.

Selected areas in the country would be brought under Tourist Development Centres to develop tourist industry, said Mr.Choksy.

budget_ranil_220202.jpg
Prime minister Ranil Wickremasinghe (left) and minister V.J.M.Lokubandera listening to budget speech in parliament Friday.
When the Finance Minister rose to present his maiden budget Friday afternoon, parliamentarians of the main opposition People's Alliance and the Marxist Janatha Vimukthi Peramuna staged a protest in the well of the house shouting that the government had won local elections through thuggery and intimidation. Opposition parliamentarians were seen holding placards.

 

Latest 15 Reports
23.03.21 12:41   Photo
No focus on Tamil genocide, geopolitics gets played out in Geneva in favour of QUAD formation
21.03.21 13:34   Photo
Navi Pillay explains ‘human rights’ limitations in Geneva on Tamil genocide
15.03.21 20:36   Photo
Deceived Tamil activists in UK falsely claimed ‘substantial changes’ to Zero draft
09.03.21 21:34   Photo
UK repeatedly wronged Tamils says hunger-striker, demands genocide justice
26.02.21 11:53   Photo
Tamils witness false dilemma in Geneva as geopolitical formations pit against each other
19.02.21 14:02   Photo
UK not prepared to push for ICC option in new UNHRC Resolution
07.02.21 23:16   Photo
Unprecedented P2P uprising paves the way for rights-oriented politics of Tamils and Muslims
22.01.21 08:01   Photo
Gotabaya sets up deceptive COI citing ‘sovereignty’ and ‘non-aligned’ foreign policy
18.01.21 23:44   Photo
Tamil activists resisted three sources of outside influence while drafting demands to UNHRC
16.01.21 11:03  
Tamil national parties demand UN to inquire into crime of genocide and set up IIIM
09.01.21 09:37   Photo
Demolition of Tamil genocide monument, fourth emblematic trauma since 1974: Rev Fr Sakthivel
08.01.21 23:51   Photo
Colombo destroys Mu'l'livaaykkaal memorial monument at Jaffna University
07.01.21 11:22   Photo
With emphasis on genocide, Suresh calls for ICC-referral, IIIM and referendum
07.01.21 00:04   Photo
Boyle prefers IIIM demand over ICC-referral, says specific reference to genocide essential
06.01.21 14:26  
Indian Minister of External Affairs Jaishankar trades off Tamils’ sovereign rights
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=6789