PM to submit supplementary estimate of Rs. 695 billion to Parliament today

By Saman Indrajith-2022/06/8

The Committee on Public Finance yesterday approved a Supplementary Estimate for Rs.695 billion under the Budget Assistance Services and Emergency Responsibilities.

This proposal was submitted by Prime Minister Ranil Wickremesinghe in his capacity as Finance, Economic Stabilisation, and National Policies Minister.

Prime Minister Wickremesinghe, in his capacity as Finance Minister, is scheduled to present the supplementary estimate to Parliament today (08).

Chairman of the Committee on Public Finance Anura Priyadarshana Yapa told the committee meeting held at the Parliamentary complex yesterday that the government had introduced an assistance package for Samurdhi beneficiaries, estate communities, pensioners and government servants, at the beginning of 2022, to reduce as much as possible the hardships faced by the public due to the adverse economic conditions.

Of the Rs 695 billion estimate, Rs 395 billion has been for recurrent expenditure while the remaining 300 billion rupees have been allocated for capital expenses.

Finance Ministry Secretary Mahinda Siriwardana explained to the public finance committee the need for the estimate and the areas where the funds to be utilized, parliamentary sources said.

The estimate, approved by the committee, is envisaged to spend Rs 87 billion to continue payment of the monthly allowance of Rs 5,000, given to government servants from January 2022, a sum of Rs 40 billion to continue the payment of Rs 5,000 to the pensioners and a sum of 15 billion to pay Rs 1,000 to the Samurdhi recipients.

In addition, Rs 140 billion was sought to pay Samurdhi benefactors, affected by the difficult economic situation, Rs 50 billion for the Ceylon Electricity Board to settle outstanding payments to the Ceylon Petroleum Corporation, Rs 12 billion for green agriculture, and Rs 50 billion for payments for fertiliser.

The estimate seeks Parliament’s approval to spend Rs 25 billion to provide food to the security forces, prisons and hospitals,due to the increase of prices, further Rs 4.5 billion for other recurrent expenditure, Rs 21 billion for loan interests. Parliament approval is also sought to spend Rs 250 billion for expenses connected with the Indian line of Credit to import essential items.