Proposed increase of VAT will not be effective for Diesel and Kerosene: Minister

24 November 2023 03:43 pm Views - 1954

BY YOHAN PERERA AND AJITH SIRIWARDANA

Parliament Nov. 24 (Daily Mirror)-The proposed 18 percent Value Added Tax (VAT) increase will not be effective for diesel and kerosene, Power and Energy Kanchana Wijesekera assured today.

“The final decision on the proposed VAT increase will be made on December 10 this year. However focus is made to exempt kerosene and diesel from the VAT,” the Minister said.   

The construction of Sri Lanka’s second oil refinery in Hambantota is to begin next month, Minister of Power and Energy Kanchana Wijesekera told Parliament today.

Minister Wijesekera said the Cabinet sub-committee has already approved the project and the Cabinet is expected to approve it next week.

“Sri Lanka will go for petro-chemicals and petroleum products export once the second refinery comes into operation,” he said.

Also, the Minister said the government will finalize six major power projects next month. This includes the construction of a 500 MW wind power plant in Mannar by the Adani group, a 700 mw solar power station in Poonaryn and a 150 MW plant in Hambantota.

Further, the Minister said solar panels will be provided to all 27,000 places of religious worship in Sri Lanka,  universities, schools, Divisional and District Secretariat offices within a year.