COLOMBO, Sri Lanka, March 6 (NNN-SL NEWS) – Sri Lanka’s Finance Minister, Mangala Samaraweera, presented the government’s budget proposals for 2019, which aims to provide relief to the poor and invest more on the island’s social infrastructure.
Reading his budget proposal in parliament, Samaraweera said, the government aimed to create a strong nation, by extending a helping hand to all its citizens, while protecting and nurturing the poor and the weak, with a strong well- targeted social security net.
He said the government had launched the ambitious “Enterprise Sri Lanka” scheme, through which private companies and small and medium enterprises would be given the opportunity to grow, to compete in the larger market, and local well-established companies to compete in the global market.
Samaraweera said, through the budget, Sri Lanka will also aim to strengthen its import and export market, and with the successful completion of the Singapore Free Trade Agreement, the government will also review progress in on-going FTA negotiations with India, China and Thailand.
While Sri Lanka achieved its best ever foreign direct investment (FDI) in 2017 and 2018, Samaraweera said, it is essential to further expand investment into the country.
Therefore, an incentive package to attract high value investments was proposed in the budget.
The budget also provided incentives towards farmers, to strengthen the agricultural sector, flexible working hours for women, in order to boost women’s participation in the work force, and strengthen the sanitation facilities, which includes providing over 200,000 families with toilet, by the end of the year.
The budget also listed a monthly allowance of Rs. 5,000 (28 U.S. dollars) for disabled people, while more disabled people will be encouraged to enter the work force as well.– NNN-SL NEWS
