8 June 2022 11:22 am Views - 385
Prime Minister Ranil Wickremesinghe asserted the need for Sri Lanka to return to the tax system of 2019 so that the ongoing strain on the economy eases.
The premier, in a tweet earlier today, implied that the government cannot continue to absorb the shocks arising from poor performing SOEs, therefore requires a steady flow of government revenue.
“Many government agencies lack financial management and have not adhered to treasury guidelines. The government is unable to cover the losses of State-Owned Enterprises and the debt burden cannot be borne by State Banks. We need to return to the 2019 tax system to recover,” tweeted the Prime Minister.