Finance Ministry to establish think tank process

5 October 2015 03:55 am Views - 1103

The Finance Ministry will be establishing a think tank this week to provide the ministry with comprehensive insights into the economy.

“We will be establishing a think tank process in the Finance Ministry with well-known names who will volunteer. We will be doing this without spending any money,” Finance Minister Ravi Karunanayake said. He said that the names of the experts would be announced this week.

“We want to be educated and gain more knowledge from this process,” he said. 

Meanwhile Karunanayake also called on wider public and professional consultation in setting up policies and next year’s budgetary measures.“We don’t want the only public interaction on the budget to be what they see on the newspapers after the budget is read. Please send us your suggestions. If any professionals are willing to help us, please do,” he requested.

He said that the Ministry has received over 300 letters, and the good suggestions have been inculcated into the 2016 budget, which is to be read in parliament on November 20.

Professionals, businessmen and civil circles have criticized the country’s budget process in the past for not having wider participation.

The global budget survey had placed Sri Lanka as one of the worst in terms of public participation, transparency, and post-budget reporting on targets achieved. (CW)