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Finance Ministry allows liquor company to operate without paying taxes: Ways and Means Committee
By Shamindra Ferdinando
Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes.
The former minister said that the country lost millions for want of political will to recover what that company owed the Treasury.
Addressing the media at the Thalakotuwa office of Eksath Janaraja Peramuna, its leader Ranawaka questioned the failure on the part of the Finance Ministry to cancel the license issued to that company. In spite of specific instructions issued in that regard, the Finance Ministry and the Excise Department were yet to take expected action. Lawmaker Ranawaka estimated the weekly loss of revenue at approximately Rs 100 mn.
Pointing out that President Ranil Wickremesinghe held the finance portfolio, MP Ranawaka said that SLPPers Shehan Semasinghe and Ranjith Siyambalapitiya functioned as State Finance Ministers. They should pay immediate attention to the issue at hand, the former JHU stalwart said.
Responding to The Island queries, MP Ranawaka said that parliamentary committees that had been tasked with streamlining the operations didn’t receive the cooperation of relevant government institutions responsible for revenue collection.
The ex-minister also found fault with two major state banks for withholding data pertaining to non-performing loans. However, the National Savings Bank (NSB) has complied with the instructions issued by Parliament, MP Ranawaka said, drawing the attention of the Finance Ministry to the developing situation.
The bone of contention is whether certain influential persons undermined their efforts to streamline revenue collection at a time the people were up in arms over increasing of the Value-Added Tax (VAT) from 15% to 18% and imposing it on nearly 100 items that had been hitherto exempted from the same.
MP Ranawaka said that the IMF has told the Wickremesinghe-Rajapaksa government to achieve revenue targets that weren’t feasible at all. In comparison with 2022, the IMF wanted the government to increase revenue to 6.5% of the Gross Domestic Product (GDP) by 2025, the MP said, declaring that no country experiencing a severe difficult economic crisis could achieve such targets. According to him, the expected revenue was approximately Rs 2,000 bn whereas the government intended to collect an additional Rs 600 bn by way of VAT.
But certain companies and individuals had been allowed to operate outside the law and their sordid operations were being facilitated, the ex-minister said, pointing out the inordinate delay in amending what he called the tax appeal process. The Parliament as the institution accountable for public finance should be held responsible for this situation, MP Ranawaka said.
For want of a clear system in place, profit-making state enterprises refrained from paying relevant taxes to the Treasury. Referring to the latest available statistics, MP Ranawaka questioned why the CPC that had earned a profit of Rs 88 bn was yet to be taxed. The ex-minister said that though 52 state enterprises obtained a profit of Rs 303 bn they weren’t taxed.
The CEB made quite significant profits in November and this month but the government seemed not interested in taxing that institution, he said. The parliamentarian said that the possibility of some 100 rural hospitals facing closure for want of proper attention at every level should be examined against the backdrop of successive governments failing to streamline revenue collection.
Commenting on the sharp increase in the number of Sri Lankans migrating to Australia and other countries, particularly for education, the MP said that it was a very heavy burden on the economy.
Alleging that the government lacked a proper strategy to meet the daunting challenges, the former minister said that if 18% VAT was slapped on fuel with effect from January 01, 2024 a liter of petrol (92 Octane) would go up by Rs 38 and diesel by Rs 34.
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US sports envoys to Lanka to champion youth development
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
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Rahuman questions sudden cancellation of leave of CEB employees
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
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CIPM successfully concludes 8th Annual Symposium
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.